Chapter-01 Introduction 1.1 Background of the study The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called rib in Islamic discourse. In addition, Islamic law prohibits investing in businesses that are considered unlawful, or haram (such as businesses that sell alcohol or pork, or
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Chapter-01 Introduction 1.1 Background of the study The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called rib in Islamic discourse. In addition, Islamic law prohibits investing in businesses that are considered unlawful, or haram (such as businesses that sell alcohol or pork, or
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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:
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through the Istisna’ is only RM960 million from a total of RM314,190.2 million. So, in this case, it shows that the level of utilization of Istisna’ in construction is still low in Malaysia. It could be that construction players are not aware of the Islamic project finance model offered or how it could be used to improve value for money and affordability (Amila, Mahadi, Abdullahi and Faris,
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In an Islamic capital market (ICM) market transactions are carried out in ways that do not conflict with the conscience of Muslims and the religion of Islam. Here, there is assertion of religious law so that the market is free from activities prohibited by Islam such as usury (riba), gambling (maisir) and ambiguity (gharar). The ICM is a component of the overall capital market in Malaysia. It plays an important role in generating economic growth for the country. The ICM functions as a parallel market
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Islamic Financial Planning: More than just managing wealth By Sani Hamid When it comes to Islamic banking and finance, many are familiar with terms such as riba, sukuk and takaful. Somewhat more obscure is the concept of Islamic financial planning which has not had much publicity. Even for those who may have heard of it, Islamic financial planning serves merely as a mirror image of the conventional model of financial planning albeit using syariah-compliant instruments. In reality, the concept
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Limited (SJIBL) commenced its commercial operation in accordance with principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991. During last eleven years SJIBL has diversified its service coverage by opening new branches at different strategically important locations across the country offering various service products both investment & deposit. Islamic Banking, in essence, is not only INTEREST-FREE banking business, it carries deal wise business product thereby generating
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Islamic Financing for Large Infrastructure Projects Jasper Camacho International Financial Mgmt, Section 1 Fall 2005 Summary This paper examines the growing Islamic finance market and how it is becoming an important source of capital to fund infrastructure projects in the Muslim world. The paper starts by introducing basic tenants of Islamic finance and the problems as it relates to large capital projects. Innovations in Islamic project financing are then introduced along with the complexity
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“Islamic Accounting : Their Position in International Standard Harmonization” Rendy Anggita Putra “Islamic Accounting : Their Position in International Standard Harmonization” 1. Abstract According to (Susela, 1999) said the development of accounting theories is are affected by several factors including political and economic interests of certain people or group in community. Therefore, it can be also called if the accounting is a significant tool to illustrate the interests and perspectives
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Islamic Banking Financial screening of Islamic equity funds Submitted to: Mr Arsalan Ahmed Submitted By: Muhammad Waqas l10-4747 Haris Naeem l10-4657 Dated: April 9, 2013 Background: While elimination of "Riba" or interest in all its forms is an important feature of the Islamic financial system, Islamic banking is much more. At the heart of Islam is a sense of cooperation, to help one another according to principles of goodness and piety (but not to cooperate in evil or malice). In essence, it
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