LAW 450Money, Banking Law, and Islamic Finance

The course examines the following topics: • Explanation of banking regulations: Regulations of the Central Bank, commercial banks, and the financial and depositary institutions; • Explanation bank transactions and money market operations; • Description of the different payment systems; • Explanation of the securities regulation: - To reduce the level of risk to which bank creditors are exposed (i.e. to protect depositors); - To reduce the risk of disruption, resulting from adverse trading conditions for banks causing multiple or major bank failures; and - To reduce the risk of banks being used for criminal purposes, e.g. laundering the proceeds of crime and especially laundering money. • Explanation of the bank regulators supervision, examination, and enforcement tools; • An Explanation of the banking secrecy laws in Lebanon and abroad; and •E  xplanation of the Islamic banking system (or Shari’a compliant finance): in terms of principles, advisory councils and consultants, financial accounting standard, and Islamic financial transactions. Language of Instruction: English (legal terms, however, are also given in Arabic and French).