...Resume Of AKM Shakhawat Hossain Contract Address: Haws:93-94 Road: 7 Monchurabad Adabor,Dhaka 1207 Mobile: 01798294050 Job Experience: a. I am working as an Assisted sales manager with Maladesh International Pvt.Ltd. December 2012 to till date. b. I served as an Assisted sales manager with RAK Mosfly (BD) Pvt.Ltd.to December 2011 to November 2012 at Khulna & Barisal Division. c. I served as an ASE with ACME pesticides Ltd. From March 2009 to November 2011 at Khulna area. d. I served as an Area Sales Executive with Kazi Enterprises Ltd. From March 2007 to February 2009 at Khulna aria. e. I served as a Branch manager Chandrodip development Society (Bakergonj Branch) From April 2004 to February 2007 At Barisal. f. I served as a Supervisor with Chandrodip development Society (Kitchen Improvement Project) From April 2002 to March 2004 at Barisal. Training: . Training Of Trainers (WATSAN PROGRAM). . Kitchen Improvement Training. . Popular Theater for Effective Communication (WATSAN PROGRAM). . Training on Community Managed (WATSAN PROGRAM). . TOT on improved Cook Stove Technology. Page:1 Career Objective: To build up a sales career through honesty, sincerity and hard work and...
Words: 375 - Pages: 2
...SHEIKH ZAYED ISLAMIC CENTRE University of Karachi “ISLAM & SCIENCE ASSIGNMENT” Submitted to: Dr. Umar Hayat Asim Submitted by: Ariba Inayet Roll# 05 Date: September 10, 2015 Islam: Islam is one of the largest religions in the world with over 1 billion followers. It is a monotheistic faith based on revelations received by the Prophet Muhammad in 7th-century Saudi Arabia. The Arabic word Islam means “submission” reflecting the faith's central tenet of submitting to the will of God. Followers of Islam are called Muslims. The sacred text of Islam, the Qur'an, was written in Arabic within 30 years of Muhammad's death. Muslims believe it contains the literal word of God. Also important is the tradition of the sayings and actions of Muhammad and his companions, collected in the Hadith. Islamic practices center on the Five Pillars of Islam—faith; prayer; fasting; pilgrimage to Mecca; and alms Science: Science is the system of acquiring knowledge through use of the scientific method — that is, generating hypotheses and theories through observation and testing. Science is intimately linked with technology; technology is developed using scientific discoveries and science is reliant on technology to further its ideas. The goals of science are to learn more about the world and use this knowledge for the betterment of humankind, or for the destruction of mankind, whichever comes first. The term "science" originally referred to knowledge in general. However, it has been...
Words: 6250 - Pages: 25
...March 10, 2015. C.V. of Ayan Tirtha Paik Islampur Dolkhola Road, Khulna Sadar, Khulna. Email : ayantirtha@gmail.com Contact Number : 01712-107527 CAREER OBJECTS : Seeking for a job with good and competitive environment in which I can unleash my potential and develop professional career. EXPERIENCE : 1. Lecturer, Department of Business Administration,Green University, Dhaka. January 01, 2012 to January 15, 2013. 2. Lecturer, Bashabo Collage, Bashabo, Dhaka. January 20, 2013 to January to till now. EDUCATIONAL QUALIFICATION |Name of Exam |Institute |Passing Year |CGPA | |MBA |North South University, Dhaka. |2011 |3.50 (out of 4.00) | |BBA |North South University, Dhaka. |2010 |3.75 (out of 4.00) | |HSC |Kachua Degree College |2006 |5.00 (out of 5.00) | |SSC |C S Pilot High School |2004 |4.94 (out of 5.00) | PERSONAL INFORMATION Name : Ayan Tirtha Paik. Father’s Name : Timir Baran Paik. Mother’s Name : Jharna Rani Mondal. Permanent Address : Village- Gopalpur, Post- Gopalpur, Thana- Kachua, Dist- Bagerhat. Present Address : Islampur Dolkhola...
Words: 261 - Pages: 2
...Fatima Javaid Regulating Officer Fatima.Javaid@sbp.org.pk TABLE OF CONTENTS S.No 1 2 3 4 5 6 Background Introduction Prudential regulations for SME Financing Importance in light of Strategic Plan for Islamic Banking Industry Scope of Islamic Banking over Conventional Banking in current Financial crises Proposed Products for Islamic SME Financing Need for Risk Management 7 Murabaha Financing Transaction Structure Accounting Treatment Risk Management 12 12 15 15 18 20 18 21 24 25 26 27 29 30 31 31 33 34 35 35 38 39 40 PARTICULARS Page No. 1 2 4 9 11 8 Ijarah Based Financing Basic Rules Accounting Treatment Risk Management 9 Salam Based Financing Basic Rules Accounting Treatment Risk Management 10 Diminishing Musharaka Basic Transaction Structure Accounting Treatment Risk Management 11 Istisna Financing Flow of Transaction Accounting Treatment Risk Management 12 Project Financing Handbook On Islamic SME Financing BACKGROUND One of the important characteristics of a flourishing and growing economy is a blooming SMEs sector. Small and medium enterprises play an important role in the development of a country. SMEs contribute to economic growth in various ways like as by creating employment for rural and urban growing labor force, providing desirable sustainability and innovation in the economy as a whole. Further, a large number of people rely on this sector directly or indirectly. Most of the current larger enterprises have their...
Words: 11186 - Pages: 45
...TR i-4 LEMBAGA PIAWAIAN PERAKAUNAN MALAYSIA MALAYSIAN ACCOUNTING STANDARDS BOARD Technical Release i-4 Shariah Compliant Sale Contracts © Malaysian Accounting Standards Board 2010 1 TR i-4 This Technical Release (TR) contains material in which the International Accounting Standards Committee Foundation (IASCF) holds copyright and which has been reproduced in this Statement with the permission of IASCF. Copyright in the International Financial Reporting Standards (including Interpretations), International Accounting Standards Board (IASB) Exposure Drafts, and other IASB publications belong to IASCF. All rights are reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing to MASB or as may be expressly permitted by law or under terms agreed with the appropriate reprographics rights organisation. No part of the materials incorporated in this publication, the copyright of which is held by IASCF, may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing to IASCF or as may be expressly permitted by law or under terms agreed with the appropriate reprographics rights organisation. TR i-4 Shariah Compliant Sale Contracts is issued by the MASB in respect of its application in Malaysia. 2 TR i-4 CONTENTS paragraphs INTRODUCTION IN1–IN6 MASB TECHNICAL RELEASE i-4 SHARIAH COMPLIANT...
Words: 5505 - Pages: 23
...GUIDELINES FOR CONDUCTING ISLAMIC BANKING Section I Introduction to Islamic Banking Islamic Banking has experienced a phenomenal growth and expansion in Bangladesh in the backdrop of strong public demand and support for the system along with its gradually increasing popularity across the world. As a result, a number of full-fledged Islamic Banks has been established, while a good number of conventional banks have come forward to offer services compliant with Islamic Shariah through opening of Islamic branches along with conventional ones. There is also a trend of conversion of conventional banks into Islamic bank. It has, therefore, become necessary to ensure that activities of the fast growing Islamic Banks are carried out properly and uniformly according to the principles of Islamic Shariah. With this end in view, Bangladesh Bank constituted a Focus group comprising representatives of the central Bank, a number of Islamic Banks and the Central Shariah Board for Islamic Banks of Bangladesh to formulate an integrated guideline for conducting banking business of the Islamic Bank/Islamic bank branches of conventional banks. Based on the recommendations of the Focus group this guideline embodying different terminologies used in Islamic Banking operations, definitions of the terminologies, the principles and modes of deposits and investments has been prepared. It also dwelt upon the issues of liquidity, maintenance of books of accounts and preparation of financial statements...
Words: 8568 - Pages: 35
...FREQUENTLY ASKED QUESTIONS (FAQs) ON ISLAMIC BANKING Prepared by Mr. Imran Ahmad Mr. Ghulam Shabbir Islamic Banking Department State Bank of Pakistan Karachi. PART 1: RIBA AND INTEREST......................................................................................... 4 Question No. 1). What is Islamic Banking? ................................................................................................ 4 Question No. 2). What is the philosophy of Islamic banking?.................................................................... 4 Question No.3) What is Meant By Riba? .................................................................................................... 5 Question No.4) What is interest? Is there any difference between interest and Riba? ............................ 5 Question No. 5) What are the different kinds of Riba?.............................................................................. 6 Question No. 6). What are the revelations/verses in Holy Quran regarding prohibition of Riba/interest? ........................................................................................................................................................................ 7 Question No. 7) What are the sayings/Ahadith about Riba/Interest? .................................................... 10 Question No.8) Are there any injunctions against Riba/usury in religious texts other than Holy Quran? .......................................
Words: 17157 - Pages: 69
...Farhan Ilyas Islamic banking is banking or banking activity that is consistent with the principles of sharia and its practical application through the development of Islamic economics. The Basic Difference between Capitalist and Islamic Economy Islam does not deny the market forces and market economy. Even the profit motive is acceptable to a reasonable extent. Private ownership is not totally negated. Yet, the basic difference between capitalist and Islamic economy is that in secular capitalism, the profit motive or private ownership are given unbridled power to make economic decisions. Their liberty is not controlled by any divine injunctions. History of Islamic Banking: Since the beginning of the 18th century, banking has been conducted on an interest-based system of lending money to those in need. With no other alternative available, people had no choice but to borrow money at often high interest rates. This lead to the formation of an unfair system that brought unnecessary hardship on people It was this need for a fair financial system that brought about the birth of Islamic banking in the mid-1970s. Its objective was to provide a financial alternative that was fair, transparent and above all, a source of economic upliftment for all those in need Islamic banking, enlightened with the guidance of Islamic Shari‘ah principles, emerged as an alternative financial system that neither gave nor took interest, thereby introducing a fair system of social justice and equality...
Words: 2716 - Pages: 11
...Islamic Banking Operations and Regulatory Framework Workshop Organized by Centre for Banking Studies, Central Bank of Sri Lanka 24 – 26 January 2012 Colombo – Sri Lanka Sukuk: Shariah Guidelines for Islamic Bonds Presented By: MOHD NAZRI BIN CHIK Member, Shariah Supervisory Council of Amana Bank Head of Shariah Division, Bank Islam Malaysia Berhad AGENDA o Overview on Sukuk o Fundamental Shariah Requirements o Sukuk Structure o Example of Sukuk Structuring and Shariah Issues o Sukuk Trading o Bank Islam and Amana Bank Involvements in Sukuk Structuring Capital Market: The Heart of A Nation’s Financial System Overall economy are divided into: Real sector – produces the nation’s output of goods and services Financial sector – providing financing needed to fund the real sector REAL SECTOR Surplus Units Households Corporate Government Foreign Investor FINANCIAL SECTOR REAL SECTOR Deficit Units Indirect Funding Banking System & Financial Intermediaries Capital Market Direct Funding Source: Adopted from Professor Dr Obiyathulla Ismath Bacha (2010) Households Corporate Government Foreign Investor Introduction to Sukuk (Islamic securities) and Sukuk Market Sukuk market is one of the fastest growing segments of the Islamic capital market (“direct funding market”). Usually translated as Islamic bond is the most active...
Words: 3463 - Pages: 14
...Islamic Modes of Finance Theory and Key Shariah Principles Modes Of Finance • Two are ideal modes which provide an alternative to interest banking and if implemented on a national level will result in much fairer distribution of wealth in society 1. Mushaarakah – رآ (equity finance) 2. Mudhaarabah - ر (equity finance - sleeping partner) • Two are not ideal as they replicate the effects of conventional banking but nevertheless are tolerated in Shariah 3. Ijaarah - ( إ رةleasing) 4. Muraabahah - ( اcost plus pricing) We will also briefly analyse Salam - , Istisnaa‘ – ع Tawarruq – رق اand 1 Mushaarakah • “Mushaarakah” literally means sharing • “Mushaarakah” is derived from “shirkah” which means “being a partner”. • Mushaarakah is “a joint enterprises formed for conducting business in which all partners share the profit according to an agreed ratio while the loss is shared according to the ratio of investment” • It is an ideal alternative for interest based financing with far reaching effects on the economy. Types of Shirkah SHIRKAH SHIRKAT-UL-MILK joint ownership SHIRKAT-UL-‘AQD joint enterprise OPTIONAL via joint purchase NON OPTIONAL inheritance SHIRKATUL-AMWAAL SHIRKATUL-‘AMAL SHIRKATUL-WUJOOH mushaarakah Mushaarakah • The term Mushaarakah has been introduced recently by those who have written on the subject of Islamic modes of financing • It is normally restricted to a particular type of “Shirkah”, i.e. Shirkat-ul-amwaal...
Words: 2768 - Pages: 12
...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...
Words: 21693 - Pages: 87
...Introduction Recent global financial crisis has highlighted the problems in the current financial system. Some of the analysts have even termed it as the downfall of the capitalism and interest based economy driven by ‘greed’ and has acknowledged the need of a new financial system. One interesting development in this whole scenario was the relative stability of Islamic Financial Institutions (IFIs). In the last decade, IFIs have witnessed an impressive growth and have begun to make an impact on the current financial setup. This paper aims to highlight the basic foundation of Islamic financial system and the development of different markets and institutions. It will then point out certain issues and challenges facing the Islamic Financial Institutions. HISTORY Early History: The history of Islamic Financial system goes back to 1,000 – 1,500 AD, during which the Middle Eastern tradesmen would engage in transactions based on Shariah. During that time, the Ottoman Empire Arabs had good trade relationships with the Spanish, and they established their financial systems without interest, based on profit and loss sharing basis. As time went by, Middle Eastern and Asian regions became important trading partners for European companies such as the Dutch East India Company, as a result of which European banks started to spread their branches in these countries, which typically were interest-based. Thus the conventional financial institutions became more dominant as Western countries started...
Words: 6394 - Pages: 26
...Principles and Practices of Investment Modes of Islamic Banking | | Abstract: The objective of the study is to gather practical knowledge regarding general banking system, investment and foreign exchange system and its operation. By pictorial description it is tried to find out the variation from various departments, particularly investment. Other objectives of the report are to identify the various types of existing services rendered by the SIBL. understand the prevailing mechanism of modes of finance of SIBL. Study the performance of modes of finance of SIBL. Highlight the major characteristics of modes of finance of SIBL. Understand the basic difference in relation to conventional bank. 1.1 Introduction: Today’s world is changing very rapidly as new business are emerging by placing the old ones. Towards the end of century, let alone a millennium, people feel a growing uneasiness about the future. Many countries suffer from chronic high employment, a persistent deficit and deteriorating purchasing power. Like the other business, banking practices are also changing at an incredible pace. Every decade calls upon company management to think freshly about its objectives, strategies and tactics. In the banking industry, community branch banks have long been the marketing channels through which customers deposit money and make payments. Banking plays an important role in the economy of any country. In Bangladesh Muslim consist more than 80% of its population. These people...
Words: 25568 - Pages: 103
...durable assets and currencies Sharikah al Mufawadah Investment Auctioning Output sharing DP with Management DP without Management Profit sharing Musharakah-based DP Mudharabah-based DP Sharikah al Amwal Sharikah al Abdan Sharikah al Wujuh Profit Sharing Revenue sharing Durable Assets Participation Musaqa Muzara‘a Output (Revenue) Sharing Involuntary: e.g., due to inheritance Voluntary: e.g., jointly purchasing a building for renting Sharikah al milk (Partnership based on joint Ownership) Temporary or Ongoing Musharakah Temporary or Ongoing Mudharabah Sharing Principle Fees deferred Ijara: Rents deferred Financial Murabahah Installment sale Object deferred Sale (ODS) Pre-paid istisna‘ Fees paid in advance Rents paid in advance Pure Salam SHARIKAT: PARTNERSHIPS Qard/Service Charge Heeba (Donations) 'Ariyah (qard of assets) Qard: Interest Free Loans TABARU‘AT: GRANTS Hemish Jedheya-Sale:...
Words: 345 - Pages: 2
...1.0 Definition of Sukuk in general The word ‘sukuk’ is taken from the Arabic name to represent the financial certificate or an Islamic bond. It comes in Arabic form which is “sak” in singular and “sukuk” in plural. Sukuk is the Islamic bond or security that provides return to investor without breaking the Islamic law, which prevent in charging or paying interest. Sukuk in Islamic finance provides an opportunity to obtain the expected return with the lowest risk as the majority of investment opportunities is based on the stock market. Income is fixed when applying sukuk resulted in no interest is charged on the bonds. Bonds are securities based on debt while sukuk are securities based on asset. Sukuk is an important mechanism that will enhance the financial international capital markets through Islam. Sukuk are primarily composed of investment certificates of ownership claim in a pool of assets. In conclusion, sukuk refers to Islamic bonds that give an advantage to the investor to own a piece of property, along with a commensurate cash flow and risk. Sukuk is in compliance with Islamic law and also refers to the Islamic principles which do not charge interest. 2.0 Background of Sukuk in general Sukuk is an Islamic capital market instruments. Sukuk refers to Islamic securities with rather distinctive features in the modern day of Islamic finance. The first Sukuk transactions occurred in Damascus, Syria, located in the Grand Mosque of Damascus in the 7th century AD...
Words: 3837 - Pages: 16
