...In the name of Allah, the Most- Merciful, the Very-Merciful Looking for New Steps in Islamic Finance jìÑíá=jìÜ~ãã~Ç=q~èá=rëã~åá Islamic banking industry has grown rapidly during the past three decades spreading its operations in many parts of the globe. Making its first debut in the small Savings Association of Mitghamr (Egypt) in 1963, its strength has now reached over 250 financial institutions operating in more than 40 countries with assets valuing USD 750 billions, and an annual growth rate of 15 per cent. Almost all the giant conventional banks are in queue to establish their Islamic units to capture the new emerging market. This rapid growth of Islamic financial industry is, no doubt, encouraging for those who wished to relieve themselves from the prohibition of interest on the one hand and to remain a part of the modern market economy on the other. Now that a substantial period of more than three decades has passed on the experience of Islamic Banks and Financial Institutions, it is imperative to review what they have achieved so far and what they have missed. It is, no doubt, a great achievement of these institutions that they relieved the Muslims from clear prohibition of riba, and came up with some alternatives that might be adopted in financial market without indulging in interest. In an atmosphere entirely dominated by interest-based transactions, it was really a formidable task. I do not agree with those who criticize them on the basis of utopian idealism, and...
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...Administration & Economics (NCBA&E) Business Strategy Assignment: Detailed Analysis of Islamic Banking in Pakistan. Submitted By: Saad Alam 2151407 Submitted To: Sir Qayyum Qureshi | | | | | Type | Public Limited | Traded as | KSE: MEBL | Industry | Islamic Banking, Commercial Banking | Founded | 1997 | Headquarters | Karachi, Pakistan | Products | Murabaha, Ijarah, Diminishing Musharakah, VISA Debit Card, Saving Accounts, Consumer Banking etc. | Number of employees | 7,000 - 2014 | Slogan | The Premier Islamic Bank | Website | www.meezanbank.com | | PROFILE:Meezan Bank (Urdu میزان بینک) is the first and largest Islamic commercial Bank of Pakistan. The Bank is headquartered in Meezan House - Karachi, Pakistan. It has a network of over 490 branches in more than 100 cities of Pakistan. It commenced operations in 2002 when State Bank of Pakistan issued first-ever license for Islamic commercial banking. The Bank has a market share of 35% in Islamic banking industry of the country.JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, has rated the Bank’s short term rating at A1+ (A-One Plus), the highest standard in short term rating, and the long-term entity rating at AA (Double A) with “Stable” outlook, making it the only Islamic bank with AA credit rating in the Islamic banking industry of Pakistan. | | HISTORY:The founder of Pakistan, Quaid-e-Azam Mohammed...
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...when a regional economic integration agreement is implemented 5. Conflicting national regulations affecting goods and services and hindering trade and the competition of the common market 6. Participating members lose control over their own domestic money supplies and economic...
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...an Introduction to Islamic Finance = = = jìÑíá=jìÜ~ãã~Ç=q~èá=rëã~åá `çåíÉåíë= Foreword Some Preliminary Points _ÉäáÉÑ=áå=aáîáåÉ=dìáÇ~åÅÉ= qÜÉ=_~ëáÅ=aáÑÑÉêÉåÅÉ=ÄÉíïÉÉå=`~éáí~äáëí=~åÇ=fëä~ãáÅ= bÅçåçãó= ^ëëÉíJÄ~ÅâÉÇ=cáå~åÅáåÖ= `~éáí~ä=~åÇ=båíêÉéêÉåÉìê= mêÉëÉåí=mê~ÅíáÅÉë=çÑ=fëä~ãáÅ=_~åâë= 6 9 V NM NO NQ NR Musharakah qÜÉ=`çåÅÉéí=çÑ=jìëÜ~ê~â~Ü= qÜÉ=_~ëáÅ=oìäÉë=çÑ=jìëÜ~ê~â~Ü= Distribution of Profit Ratio of Profit Sharing of Loss 17 NV OP 23 24 24 qÜÉ=k~íìêÉ=çÑ=íÜÉ=`~éáí~ä= j~å~ÖÉãÉåí=çÑ=jìëÜ~ê~â~Ü= qÉêãáå~íáçå=çÑ=jìëÜ~ê~â~Ü= Termination of Musharakah without Closing the Business OR OU OU 29 Mudarabah _ìëáåÉëë=çÑ=íÜÉ=jìÇ~ê~Ä~Ü= aáëíêáÄìíáçå=çÑ=íÜÉ=mêçÑáí= qÉêãáå~íáçå=çÑ=jìÇ~ê~Ä~Ü= `çãÄáå~íáçå=çÑ=jìëÜ~ê~â~Ü=~åÇ=jìÇ~ê~Ä~Ü= 31 PO PP PQ PR ÅçåíÉåíë= Musharakah & Mudarabah as Modes of Financing mêçàÉÅí=cáå~åÅáåÖ= Securitization of Musharakah Financing of a Single Transaction Financing of the Working Capital 37 PU 39 42 43 pçãÉ=lÄàÉÅíáçåë=çå=jìëÜ~ê~â~Ü=cáå~åÅáåÖ= Risk of Loss Dishonesty Secrecy of the Business Clients’ Unwillingness to Share Profits House Financing on the Basis of Diminishing Musharakah Diminishing Musharakah for Carrying Business of Services Diminishing Musharakah in Trade RO aáãáåáëÜáåÖ=jìëÜ~ê~â~Ü= 52 54 55 56 RT 59 63 63 Murabahah fåíêçÇìÅíáçå= Some Basic Rules of Sale Bai’ Mu’ajjal (Sale on Deferred Payment Basis) 65 SR 66 70 jìê~Ä~Ü~Ü= pçãÉ=fëëìÉë=fåîçäîÉÇ=áå=jìê~Ä~Ü~Ü= Murabahah...
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...Acknowledgement We are really thankful to our honorable faculty, QUAZI SAGOTA SAMINA, Senior Lecturer, Department of Business Administration, East West University. With her valuable advice, continuous inspiration and constructive criticism she helped us to carry out this report successfully. We would also like to thank the data manager of Bangladesh bank, officers of state bank of India for their cooperation , our gratitude to the Commercial Banks for whom we were assigned and Dhaka Stock Exchange library that helped us to gather all the necessary information. Finally, we would like to thank to all the group members that directly or indirectly helped us to provide and accumulate all the necessary information for the accomplishment of this assignment. Introduction Abstract The report started to take place in a Management of Commercial Bank (FIN 380) class when our course instructor said that submitting a report is mandatory or else the course will remain incomplete this report is to find out the Effect of capital, Liquidity & Credit Risk on Profitability. So to find out the correlation we used statistical formula based on which we compel to get the correlation. The foundation or cause of making this report is to identify the changes may happen in a banks’ profitability in case of making any change in the equity capital, liquidity or credit risk. So at the end of this report we will be able to conclude that is there...
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...1. Introduction: The recruitment and selection processes of an organization are two of its most important HR planning activities. The basic purpose of recruiting is to ensure a sufficient pool of applicants from which the most qualified individuals may be selected. Effective recruiting is important because sufficient number of qualified applicants is needed to ensure that selection can be successfully accomplished. 1.1 Origin of the Report: This report is a requirement of the internship program which is an important part of the MBA degree requirement. As the supervisor has advised me to develop a thorough understanding of the recruitment and selection processes of Prime Bank Limited (PBL), this report will be prepared on those aspects of the HR practices of PBL. 1.2 Objectives of the Study: The objectives of this study will be: * To evaluate the current recruitment and selection policy and process of Prime Bank Limited. * To find out the weaknesses of the current policy. * To suggest improvements to the policy. 1.3 Methodology: In the preparation of this report, data has been collected from both primary and secondary sources. In-depth interviews of some of the employees of the HR Division of Prime Bank Limited have been conducted to gather necessary information. Also, the Recruitment and Selection Policy of PBL has been consulted in preparing this report. Moreover, text books, the internet, the annual report of Prime Bank Limited etc. have been used to collect...
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...Appendix * Exchange overview……………………………page 4. * Regulator……………………………………...page 4-5. * Listing and Trading Rules….............................page 6-8. * Improvements………………………………...page 8-9. * Listings…………………….............................page 10-11. * Performance………………………………….page 12-13. * Sectorial Analysis……………………………page 13-14. * Valuation…………………………………….page 14. * Bonds………………………………………..page 14-16. * Sukuk………………………………………..page 16-17. * Mutual funds………………………………...page 17-19. * Initial Public Offerings……………………...page 19-20. * SWOT Analysis……………………………..page 20-21. * Future Prospects……………….....................page 21-22. * Conclusion………………………………….page 23. * References………………………………….page 24. I. Exchange Overview: In mid 1990s, stocks were traded through some unlicensed and unspecialized offices acting as intermediaries. This resulted in lack of transparency, and unfairness of stock pricing. The pressing need for a regulated and organized stock market that guarantee the protection of investors' interests by adopting modern mechanism for settling stocks' prices according to demand and supply led to the issue of the Emiri Decree No. 14 of 1995, founding the Doha Securities Market (DSM). Two years after the Emiri Decree Issuance, Doha Securities Market commenced its operations in May 26, 1997 with 17 companies and approximately 6 billion QR in market capitalization. Today, the Doha Securities Market (DSM) is known...
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...to complete this Internship report within due course of time. Words are very few to express enormous humble obligations to my affectionate “Family Members” for their prayers and strong determination to enable me to achieve this job. I am heartily thankful to my “University” and specially to my Internship Incharge “Mr. Nisar Ahmad”, whose encouragement, guidance and support from the initial to the final level enabled me to develop an understanding of the subject. I also appreciate the cordial co-operation from all my concern Managers and Staff members in the different departments of Askari bank. * Ms. Rafia Alam Khan (Branch Manager/AVP) * Mr. Amir Akram Warraich (Manager Operations) * Mr. Junaid-uz-Zaman Siddiquqe (Incharge Trade And Foreign Currency Department ) * Mr. Hassan Zia (Incharge Account Opening Department) * Ms. Kiran Hussain (Incharge Account Opening Department) * Mr. Khalid Saleem (Incharge Accounts Department) * Mr. Naveed Ishaq (Incharge Cash Department, Assistant Manager Grade) * Mr. Taimoor Akbar (Cashier) * Mr. Taimoor Afzal (Cashier) *...
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...Foreign Exchange Performance Analysis of Islamic Bank Bangladesh Ltd. A Report On Foreign Exchange Performance Analysis of Islamic Bank Bangladesh Ltd. Prepared For: The Chairman Fourth Year Examination Committee 2013 Prepared By Md. Wasiul Islam Exam ID: 100214 BBA Program, Session: 2009-10 Dept. of Finance & Banking Jahangirnagar University Savar, Dhaka – 1342 October 10, 2013 October 10, 2013 The Chairman Exam Committee Fourth Year Exam Committee 2013 Department of Finance & Banking Jahangirnagar University Savar, Dhaka-1342 Through: Mr. MD. Tarikul Islam, Thesis Supervisor Subject: Submission of the internship report/bachelor thesis Dear Sir: It is my pleasure to submit the Internship Report on “Analysis on Foreign Exchange Operation of Islamic Bank Bangladesh Ltd.” as approved by my internal supervisor, Mr. Md. Tarikul Islam and my external supervisor, Md. Hedayet Ullah, Course coordinator of Internship Program of IBBL. I expect your kind acceptance of the report my report. Thank you for giving me the opportunity to do such type of work. I tried my best to make it understandable, relevant and reliable. I also expect your cordial suggestions that will be a positive feedback for me to make better in future. Sincerely yours, MD. Wasiul Islam Exam ID: 100214 BBA Program, Session: 2009-10 Acknowledgement First of all I would like to thank the Almighty who gave me patience. In preparing this internship report...
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...MANAGING FINANCIAL RISKS OF SUKUK STRUCTURES Ali Arsalan Tariq M.Sc. International Banking Copyright AA Tariq, September 2004 A dissertation submitted in partial fulfilment of the requirements for the degree of Masters of Science at Loughborough University, UK. Acknowledgements First and foremost, I would like to thank my family – mother, father and my siblings – for their undying love. I would never have come so far without them. I would also like to take this opportunity to thank my supervisor, Dr. Humayon Dar, for his insightful guidance and for always being welcoming and patient with my unannounced visits throughout the year. This dissertation would never have been produced otherwise. Last but not least, I would like to thank my friends at Loughborough University that have made my summer of 2004 all the more memorable. For everything that is right, credit goes to all of the above. For anything that is wrong, I am culpable. Ali Arsalan Tariq September 2004 2 TABLE OF CONTENTS I. Introduction II. Islamic Financial Assets: Overview of Theoretical Aspects 2.1 Prohibitions 2.1.1. Prohibition of Riba (Interest) ` 2.1.2. Prohibitions of Gharar (Excessive Uncertainty) 2.1.3. Avoidance of Unethical Investments and Services 2.2 Alternative Basis of Financial Instruments 2.2.1 Partnership Contracts 2.2.2. Exchange Contracts 2.2.3. Financial Assets III. Evolution and Profile of Sukuk Structures and Markets 3.1 Types of Sukuk 3.1.1 Pure Ijarah Sukuk 3.1.2. Hybrid/Pooled Sukuk 3...
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...International Islamic University Islamabad Subject: Commercial Bank management An Over View Of Bank Al-Islami Submitted to: Sir. Ismat Ullah Butt Submitted by: Muhammad Mahmood Khan (group leader) 103-se/bsef(4)/F08 Email address: mmkaries2@hotmail.com Other members: Malik hammad anwar 121-se/bsef(4)/f08 Umair Hassan khawaja 122-se/bsef(4)/f08 Jehanzeb saeed khan 130-se/bsef(4)/f08 Stephen kingori Introduction: Bank-Al Islami The Idea: The epochal idea of Bank Al-Islami was conceptualized by Jahangir Siddiqui & Company Limited and DCD Group in late 2003. Mr. Hasan A. Bilgrami was appointed as Adviser to the sponsors on March 16, 2004 to formalize the idea. He presented the concept paper of Bank Al-Islami to sponsors on March 24, 2004. A detailed business plan was then prepared and a formal application was submitted to the State Bank of Pakistan on May 26, 2004. On September 26, 2005, Dubai Bank joined the Sponsors and became one of the founding shareholders of Bank Al-Islami by investing 18.75% in the total Capital. Accreditation by State Bank of Pakistan: The State Bank of Pakistan issued a No Objection Certificate in no time on August 19, 2004 and Bank Al-Islami Pakistan Limited, the second full-fledge Islamic Commercial Bank in Pakistan, was incorporated on October 18, 2004 in Pakistan. Bank Al-Islami Pakistan Limited was the first Bank to receive the Islamic Banking license under the Islamic Banking policy...
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...ACKNOWLEGMENT Starting with name of Allah and its beloved Prophet Hazart Muhammad (P.B.U.H), due to whose mercy and graciousness, I was able to accomplish the internship report as requirements of my BBA (hons) degree. And special thanks to my project Advisor Mam Shafaq Naeem and all facility members of LBS. I am also happy to pay my regards to their Sir Khurram (Branch Manager) who had instead and help me in my report. Lastly I would love to thanks my family members all the support and prayers in every steps. Summary: This internship report grasps the achievement of my particular understanding of banking Environment along with achievement of banking rules. I had begun this internship of mine. From soneri bank private limited Okara Branch. The duration of my internship was six weeks. I was introduced to the basic working of banking along with real life Practice. Soneri bank is the one of the Pakistani private and supportive commercial bank having 234 branches in larger cities of Pakistan. It’s main head office in Karachi on chundrigar Road. Its head Quarters in Lahore. The bank starts its developments in year 1992. Soneri bank limited came in to being on September 28, 1991; the first branch of bank opened in Lahore on April 16, 1992 and also has branch in Karachi on May 09, 1992 & listed on all the stock exchange of Pakistan. To open a customer account like Individual, joint partnerships, private limited are the minor types of accounts. Different certification is...
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...Pakistan Telecommunication Company Limited 2 Annual Report 2012 Contents Company Review 4-5 Corporate Vision, Mission & Core Values 6-7 Board of Directors 8 Corporate Information 9 Awards and Achievements 10-11 The Management 12-15 Operating Highlights - Graphs 16-17 Group CEO's Message 18-35 Directors' Report 36 Composition of Board's Sub-Committees 36 Attendance of PTCL Board Members 38 Statement of Compliance with CCG 39 Auditors' Review Report to the Members Financial Statements 43 Auditors' Report to the Members 44-45 Statement of Financial Position 46 Statement of Comprehensive Income 47 Statement of Cash Flows 48 Statement of Changes in Equity 49-90 Notes to and Forming Part of the Financial Statements Consolidated Financial Statements 93 Auditors' Report to the Members 94-95 Consolidated Statement of Financial Position 96 Consolidated Statement of Comprehensive Income 97 Consolidated Statement of Cash Flows 98 Consolidated Statement of Changes in Equity 99-153 Notes to and Forming Part of the Consolidated Financial Statements Annexes 156-164 Pattern of Shareholding 165 Notice of 17th Annual General Meeting 167 Form of Proxy 3 Pakistan Telecommunication Company Limited Vision & Mission Corporate Vision To be the leading ICT service provider in the region by achieving customers’ satisfaction and maximizing shareholders’ value. Mission To achieve our vision by having: • An organizational environment that fosters professionalism, motivation...
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...An Internship Report Name of Organization: Submitted By: Javed Hussain MC062000032 S u b m i t t e d To : Instructor PRO619 Virtual University of Pakistan Dedication I dedicated this Internship Report to My family members and Virtual University of Pakistan 2 Acknowledgement All praise to Allah, the most merciful, kind and beneficent, and the source of all knowledge, wisdom within and beyond my comprehension. He is the only God, who can help us in every field of life. All respect and possible tributes goes to my Holy Prophet Mohammad (SAW), who is forever guidance and knowledge for all human beings on this earth. Heart full thanks for Mr. Muhammad Imran Wahid Principal IPS- Intellectual Prestige Computer Science College Mailsi (PMLS01), for special arrangement of equipments in computer lab and providing informative books in library. Without his co-operation it was not possible for us to complete my MBA Program. I am very grateful to my Project supervisor at Virtual University of Pakistan. He guided and helped me through timely suggestions, valuable advices and specially the sympathetic attitude, which always inspired me for hard work. I am proud to say that I am very grateful to my family whose kind prayers and cooperation helped us at every step of my work. Special thanks go to my parents for their cooperation for the sake of my knowledge. I am really very thankful to Ch. Ikram Ullah Operational Manager National Bank Main Branch Mailsi for her...
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...| Islamic philosophyOLIVER LEAMAN | | | | Islamic philosophyIslamic philosophy may be defined in a number of different ways, but the perspective taken here is that it represents the style of philosophy produced within the framework of Islamic culture. This description does not suggest that it is necessarily concerned with religious issues, nor even that it is exclusively produced by Muslims (see Islam, concept of philosophy in).1 The early years of Islamic philosophyIslamic philosophy is intimately connected with Greek philosophy, although this is a relationship which can be exaggerated. Theoretical questions were raised right from the beginning of Islam, questions which could to a certain extent be answered by reference to Islamic texts such as the Qur’an, the practices of the community and the traditional sayings of the Prophet and his Companions. On this initial basis a whole range of what came to be known as the Islamic sciences came to be produced, and these consisted largely of religious law, the Arabic language and forms of theology which represented differing understandings of Islam.The early conquests of the Muslims brought them into close contact with centres of civilization heavily influenced by Christianity and Judaism, and also by Greek culture. Many rulers wished to understand and use the Greek forms of knowledge, some practical and some theoretical, and a large translation project started which saw official support for the assimilation of Greek culture (see Greek...
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