...Thank you for your consideration. Sincerely Yours, Maruf Haider ZR -33 , BBA 10th IBA Univ. of Dahaka Table of Contents Section 1 –Organization report 1.1 Background of ULC 1.2 Corporate Objective 1.3 Capital, Sponsors and Share Structure 1.4 Board of Directors 1.4.1 Executive Committee 1.5 Organizational Structure 1.5.1 Management 2.1 Lease Portfolio and Sector wise Exposure 2.2 Performance of ULC at a Glance 2.3 SWOT Analyses of ULC 3.0 Credit offers by ULC 4.1 Credit Approval Process of ULC 5.1 Conclusion Section 2 - Internship Project 1.0 Introduction 2.0 Executive summery 3.1 Scope & objectives of study: 3.1 Products/schemes: 3.2 Variables & PARAMETERS: 3.3 Methodology & ANALYSIS: 3.4 Limitations: 4.0 Product definitions 4.1 The...
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...Introduction Unlike conventional economics which focuses on profit maximization, the Islamic economic system aims at the “study of human falah achieved by organising the resources of earth on the basis of cooperation and participation (Akram Khan, p.55).” In other words, the Islamic economic system aims at attaining Allah s.w.t’s pleasure, while pursuing economic activities within the boundaries of the Islamic shariah. The Islamic shariah puts a heavy importance on the well being of the community and social justice. Thus, this also means the prohibition of interest. The prohibition of interest is one of the main factors that put Islamic economics in distance with the conventional economics. Because of this difference in nature, Islamic Financial Institutions (IFIs) have different types of contracts as practiced by conventional financial institutions. One of the types of contracts entered by IFIs is the Ijarah contract. Ijarah contracts are also known as Islamic leasing. Basically, this study is done in order to understand more the nature of leasing according to Islamic principles, and at the same time, the differences of ijarah with conventional leasing. In addition, this study also aims to identify the types of ijarah practiced by IFIs in Malaysia and also to see how Malaysian IFIs disclosed their ijarah financing in comparison to their counterparts in Bahrain IFIs. This is because as one ummah, it is important to have a standardized standard that is Shariah compliant...
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...Aklima Khatun ( ). Dept. of Accounting & Information Systems. Islamic University, Kushtia MODE OF INVESTMENT OF ISLAMI BANK BANGLADESH LIMITED. This Report is Submitted to the Department of Accounting & Information Systems, Islamic University, Kushtia in partial fulfillment of the requirement for the degree of Bachelor of Business Administration (B.B.A) in Accounting & Information Systems. Supervised By: Submitted By: Mr. Md. Ruhul Amin Assistant Professor Dept. of Accounting & Information Systems Islamic University, Kushtia Aklima Khatun B.B.A (Hon’s) Roll No: 0704058 Session: 2007-2008 Dept. of Accounting & Information Systems Islamic University, Kushtia To Dedicated My Respectable Parents, & Honorable Supervisor Declaration I hereby declare that the internship report entitled “Mode of Investment of Islami Bank Bangladesh Limited.” is my original research work and pursued under the special supervision of Mr. Md. Ruhul Amin, Assistant Professor, Department of Accounting & Information Systems, Islamic University, Kushtia. I further affirm that work reported in this term paper is original and no part or whole of the term paper has been submitted to, in any form, any other university or institution for any degree or any other purpose. ………………………………………… Aklima Khatun Roll No: 0704058 Session: 2007-2008 Dept. of Accounting & Information Systems Islamic University. Kushtia Letter of Submission Date: 20th November...
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...Different Modes of Investment of Islami Bank Bangladesh Limited [pic] Islami Bank Bangladesh Limited Date of submission: 19th May, 2011 Different Modes of Investment of Islami Bank Bangladesh Limited Kawran Bazar Branch and Its Performance Prepared By www.AssignmentPoint.com Student Declaration I hereby declare that report entitled Different Modes of Investment of Islami Bank Bangladesh Limited Kawran Bazar Branch and Its Investment Submitted in partial fulfillment of the requirement for the degree of Bachelors of Business Administration (BBA) Is my original work and not submitted for the award of any other Degree, Diploma Fellowship or other similar title or prizes ________________________________ www.AssignmentPoint.com Certification This is to certify that the internship Report titled Different Modes of Investment of Islami Bank Bangladesh Limited Kawran Bazar Branch and Its Investment Submitted in partial fulfillment of the requirement for the degree of Bachelor of Business Administration (BBA) is approved and accepted in form and quality. ________________ ____________________ Supervisor ...
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...invitation to treat D. a special offer 3. When the seller is in breach of the Contract of Sale, a number of remedies are available to the buyer. The following are the remedies EXCEPTA Damages for non-delivery of goods B Specific performance C Breach of warranty D Arrest warrant 4. The law on negotiable instruments in Malaysia is covered by the A. Hire Purchase Act 1967 B. Civil Law Act 1956 C. Employment Act 1955 D. Bills of Exchange Act 1949 1 CONFIDENTIAL ALD 2013 / JULY-NOVEMBER 2010 5. Bob sold his diamond ring worth RM10, 000.00 to Ali for RM100.00. There is a contract between them. This is an issue under: A. certainty of terms B. inadequacy of consideration C. capacity of contract D. intention to create legal relations 6. The purpose of crossing a cheque is A. to give a cheque more value B. to signify to the bank that it is a special cheque C. to prevent fraud D. to make a cheque valid 7. A cheque that has been in circulation for 11 months is deemed to be A. A stale cheque B. A dead cheque C. A bearer cheque D. An old cheque 8. Under the Hire Purchase Act 1967, the owner can repossess the goods if the hirer A. default in two successive payments B. default in three successive payments C. default in five successive payments D. default in ten...
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...whereby he will hire the goods with a view to ultimately purchasing them. Such an agreement is legally known as a Hire-Purchase agreement. In Kenya Hire Purchase agreements are governed by the Hire Purchase Act, Cap 507, (the Act), which is mainly based on English Hire Purchase Acts A Hire Purchase agreement may be defined as an agreement whereby the owner of the goods hires them out to the hirer and gives him the option to purchase the goods. This option may or may not be exercised and there is no contract unless the option is exercised. Hire Purchase agreements in Kenya are governed either by the common law or the Hire Purchase Act. Although not all Hire Purchase Agreements are covered by the Act, they nevertheless share many characteristics. That is why it is important to study the basic principles of the Act. NATURE OF THE HIRE-PURCHASE AGREEMENT The main aspect of a hire purchase agreement is that the goods are on hire only. Property in the goods does not pass to the customer (hirer) until the final instalment has been paid, all conditions have been complied with and the option to purchase has been exercised. That is, in order to effect the transfer of ownership to the hirer, the owner has to sell the goods to him. He does this by making an offer to sell at a nominal consideration of 20/-. Thus, the Hire Purchase Agreement has two elements: a) The goods are on hire; b) The hirer has the option to return the goods at any time or to purchase the goods. ...
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...Australia Abstract This article surveys the growth of consumer credit in Australia during the 20th century, particularly after World War II. Until the 1970s, the regulation of Australia’s financial market caused formal consumer credit to be provided mainly by finance companies under hire-purchase contracts, largely for the purchase of cars and household durables. Deregulation of the financial market since the 1960s allowed banks to gain a dominant share in the market for personal loans. Quantification of long-term trends is difficult, but broad estimates suggest sustained growth in per capita indebtedness during 19452007. JEL classifications: D14, E21, E51, G23, N27 Key words: consumer credit, finance, household expenditure, history, Australia Introduction Living standards improved considerably in Australia during the 20th century. Households were increasingly able to overcome liquidity constraints and purchase an ever greater number and range of consumer durables, including furniture, refrigerators, washing machines, radios, televisions and cars. These were often items for which they lacked finance in terms of current income and/or accumulated savings. Still, households were able to purchase them, due to the...
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...INTERNAL CONTROL (Case Study 2) 1. Introduction As President of LJB Company is looking to go public by bringing internal controls system which is as one of the most challenging corporate governance issues because internal control involves everything that controls risks to an organization. Our accounting department has been chosen to evaluate the internal controls of LJB Company. LJB Company is planning to be a publicly traded company in the near future. Our firm needs to evaluate the internal controls To determine where we are on the continuum of internal control compliance, where they need to be and how to close the gaps. One means of assessing readiness is to conduct a “dry run” to detect early warning signs of control deficiencies. A dry run will assess identified financial reporting risks, processes and controls, as well as control designs, against leading practices. We have gathered and provided information of internal control, also arranging the necessary the data into 3 aims of this case study: 2.Background Study LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The president wants to be aware of any new regulations required of his company if they go public, so he met with a colleague of yours at a local restaurant. The president of the company explained the current system of internal controls to your colleague. Your colleague has...
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...leasing 15.5.5 Direct leasing 15.6 Advantages of leasing 15.7 Leasing in India 15.8 Concept & Meaning of Hire purchase 15.9 Difference between Lease Financing and Hire Purchase 15.10 NSIC & Hire Purchase 15.11 Factoring 15.11.1 Factoring procedure 15.11.2 Merits 15.12 Summary 15.13 Glossary 15.14 Self Assessment Questions 15.15 Further Readings 15.0 INTRODUCTION In order to start and sustain a business one needs finance. In the unit one on feasibility study, you have already seen the process of estimating financial requirements. The process involved (a) making a list of all the assets (b) identifying the sources of supply (c) estimating the cost of acquisition when the assets are to be acquired on outright basis. Then investment requirements as well as entrepreneur’s fear will increase. To scare away the entrepreneur’s fear, the emphasis should be given to resources and not to the ownership. In this unit we intend to familiarize you with some important financial innovations i.e., leasing, hire purchase and factoring. 228 15.1 OBJECTIVES After going through this unit you should be able to • Describe the meaning of leasing • Explain the role and importance of lease financing in economic development of a country • Distinguish between the various types of leases • Describe the meaning of hire purchase • Distinguish between leasing and hire purchase • Describe the meaning of factoring 15.2 CONCEPT 0F LEASE FINANCING Lease financing denotes procurement...
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...Managing Financial Resources and Decision Assignment One As the CFO of 'New Dream' I need to study about our sources of finance including internal and external sources in fifferent stage for the development in new dream. I will give my professional advises onto three task-it is true that profit is source of funding to run New dream?And i also need to find the sources of funding availble for a business project,and no matter it is in private sector,public listing sector or in public sector,on task two,i need to explain and assess the implications of the different sources or funding,on the last task,i need to find out the life-span situation of New Dream and evaluate appropriate source of finanace for starting-up the 'New Dream' and in different stage of New Dream's situations. First,i would like to talk about source of funding of New Dream.New dream is a Educational institutions,it provided english courses for chinese students who want to study TOEFL.In other words,New dream mainly provided knowledge to students,we can see that New Dream make profit by providing english courses to students,about sources of funding,there are three way of company to do funding,such as make profit by selling a product for more than it costs to produce,companies can borrow money. This can be done privately through bank loans, or it can be done publicly through a debt issue. The drawback of borrowing money is the interest that must be paid to the lender,and company can generate money by selling...
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...Ocean Carriers: Case Study MBA 540 Fall 204 Janelle Roche King Quaidoo Suzanne Ekstrom Net Present Value: 15 Year Evaluation if the United States with a 35% Taxation Net present value is used in order to determine the present value of an investment by the discounted sum of all cash flows received from a project. In this case this would be the calculation of the single project capital budgeting for Ocean Carriers Inc. and a purchase of 15 year operation vessel. This 15 year time span would begin in 2000 and continue until 2017. Ocean Carries Inc. in this scenario would be subject to the United States 35% taxation. In order to calculate the net present value the free cash flow had to be calculated. Using the formula; EBIAT + depreciation – capital expenditure - change in net revenue + after tax proceeds from the sale of a ship (Year 17: $645,899 + $1,630,000 - 0 - ($756,295) + $8,710,000 = $11,742,193.61) the free cash flow was calculated. Using that calculation the present value of the free cash flow was calculated using the formula; Free cash flow / (1 + 9%) ^ Event year. After summing the total of the present value free cash flow the conclusion was the net present value. After fully comprising the single project capital budget it can be concluded that the Net Present Value would equal -$7,805,694. The net present value rule states that an investment should be accepted if its net present value is greater than zero and should be rejected if it is less than zero. Following...
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...A STUDY ON INVESTMENT MANAGEMENT ACTIVITIES OF ISLAMI BANK BANGLADESH LIMITED PREFACE Bank is a part and parcel of the modern economy of any country. Like any other countries in the world banks play the most crucial role not in the economic but also the social, political environment in Bangladesh. Even it is wise to say that the financial sector of Bangladesh is solely dominated by the banking sector, because the non bank financial sector of Bangladesh is yet to develop to desired level, although it is growing very rapidly. The invention of banking based on Islamic shariah is a relatively new concept in the global banking arena. Now a day the Islamic Shariah based banks are not operating only in the Muslim countries but also in non Muslim countries with the same level of faith and efficiencies parallel to the conventional interest based banks. Even in some cases some of the Islamic Shariah based banks has exceeded their competing traditional banks in terms of service quality and some other key financial indicators. In Bangladesh Muslim constitutes more than 80% of her total population. These people possess strong faith on Allah and they want to lead their lives as per the instructions given in the holy Quran and Sunnah; the way shown by the prophet Hazrat Muhammad (Sm). But no Islamic banking system was developed here up to 1983. The Traditional banking sector was fully based on interest. This is why most of our religious...
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...Ocean Carrier Case Study Summary In order to accept the recently submitted leasing contract proposal, Ocean Carriers would have to purchase a new ship. The purchasing of a new ship is a considerable investment. We have analyzed whether or not Ocean Carriers should make this investment using Free Cash Flow and Net Present Value (NPV) analysis. Given the details of the contract, the forecasted daily time charter rates, and the costs data; we have concluded that Ocean Carriers should not accept the proposal and purchase a new ship if the company’s plan is to scrap the ship in 15 years. The NPV of this option is negative, roughly -$43,705, which means that Ocean Carriers would lose money over the life of this project. However, further analysis has concluded that operating the ship for its entire useful life, 30 years, can produce a positive NPV, roughly $2,107,016. So Ocean Carriers’ should consider taking on this proposal only if they can continue operating the ship for 30 years. *Please see assumptions and capital budget details. Answers to Case Questions 1) Spot hire rates will likely decrease in the near term, 2001 and 2002. Imports for ore look to be flat and won’t likely increase for the next two years. With 63 new capsizes scheduled for completion in 2001 there will likely be an overage of supply in the near term. Daily rates are driven by supply and demand as well as the trade patterns. With additional cargo carriers entering the fleet and depressed demand...
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...an insight of Singer Bangladesh Ltd. We have tried heart and soul to make the report effective and useful. We are grateful to you for providing us this opportunity of gaining such practical experiences. If you need any assistance for further interpretation, please call us up. Sincerely Yours, (Quazi Asaduzzaman) ID#14, 44th(E) batch (Quazi Asaduzzaman) ID#14, 44th(E) batch (B M Hasan Mahmud) ID#36, 44th(E) batch (B M Hasan Mahmud) ID#36, 44th(E) batch ACKNOWLEDGEMENT It gives us immense pleasure to thank few individuals for their cordial cooperation and encouragement, who have contributed directly or indirectly in preparing this report. Firstly, we express our gratefulness to Almighty who has enabled us to pursue our study. We are deeply grateful to Mr. A.K.M. Saiful Majid, Professor, Institute of Business Administration of University of Dhaka. We would like to thank him from the core of our heart for his proper instructions, suggestions and evaluations, which helped us to generate the report...
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...Running head: CONTRADICTION CONCEPTS IN AAIOFI WITH ISLAMIC BANKING Contradiction concepts in Islamic Banking in Malaysia Nor Alina bt Abdul Latip International Islamic University Malaysia Abstract This study investigates the concepts use in Islamic Banking in Malaysia and compares it with guidelines provide by Islamic teachings. It finds that most Islamic banks in Malaysia offer BBA in home financing and Ijarah in car financing as their products. The findings show that concepts of BBA and Ijarah practise in Islamic Institutions in Malaysia are differ from the actual Islamic teachings. The study also reveals that Islamic banks are restricted to the Malaysian requirements in providing their products. Page no Abstract 2 Introduction 4 Literature review 5 Methodology 7 Findings 7 Conclusion 13 1.0 INTRODUCTION Financial Accounting Organization for Islamic Banks and Financial Institutions is known as Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). It was established in 1991 (AAOIFI, 2007, p.8). AAOIFI standards are drawn from Islamic teaching. The standards free from three important concepts that are used in conventional institutions which are interest...
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