dictionary defines that takaful is a Islamic insurance in which all participants are members and contribute to a pool of funds that provide assistance in the event of loss on the part of any of the participants. It is an Islamic insurance arrangement avoids the prohibitions against gambling and interest in Islamic Law. Takaful, it originates from the Arabic word Kafalah, which means "guaranteeing each other" or "joint guarantee". It is based on the principles of ta’awan (mutual cooperation) and Tabarru’
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Job Application , Notifications, Circulars, Written (Recruitment) test & Viva Result,Exam Syllabus,Previous Papers for the Exam as well as all other related Banking information are available in the Al-Arafah Islami Bank website. | AIBL | Islam delivers us a complete way of life. Main goal regarding Islamic approach to life is always to achieve success just about every in this mortal in addition to immortal existence. Subsequently within about every facets of your daily life we must follow
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solutions to enhance quality of life everywhere. Al Rajhi Bank “The #1 Bank in KSA” Al Rajhi Bank, one of the biggest Islamic banks in the world, began its activities in 1957. It enjoys 50 years of experience in both the banking industry and trade activities. The Bank relies on Islamic Sharia principles as a base for all its activities and due to its forward thinking vision in banking, it strives to hire fresh graduates and job seekers who enjoy a high level of professional ambition as a sign of encouragement
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nationalized to dismay and became state owned. It has largest network within Iranian banking system with 2700 local branches, 21 overseas branches. 2. Islamic Contracts: these are contracts under which banks are authorized to grant facilities to the customer and participate indirectly in the investments: Quardh Al Hassaneh, Direct Investment, Guarantees etc., Electronic Banking: Mobile banking, Internet Banking, Bill, Gold deposits, Investment deposit for Children’s Future prosperity, marriage portion
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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
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(AIBL) at Mirpur-1 Branch. Modern Bank plays an important role in the economic development of a country. In Bangladesh there are different types of banking system have been existing. One of the major banking systems is Islamic Banking. Bangladesh is one of the largest Muslim countries in the world. The people of our country are deeply committed to Islamic way of life as the basis of Holy Quran and Sunnah. Naturally, it remains a deep cry in their hearts to fashion and design their economic lives in
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------------------------------------------------- A Report On Comparative Performance Study of Conventional and Islamic Banking in Bangladesh Course Title: THEORY AND PRACTICES OF BANKING IN BANGLADESH Course Code: FBK 312 Submitted To: Md. Nur Nabi Assistant Professor Department of Finance and Banking Faculty of Business Administration and Management Patuakhali Science and Technology University Dumki, Patuakhali- 8602 Submitted by: Group: C (Level: 3, Semester: I) Session:
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whole banking system is based on the Interest system. But according to the Islamic rules interest is not legal. So many people, who could be the potential customers of Bank, feel not to engage themselves in the banking system. To facilitate them in addition of the Conventional banking System there is another System we can see a banking world that run according to Shariah. This system established in Bangladesh on 13th March 1983, named Islamic Bank Bangladesh Limited. The definition of Islamic Bank
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|Background | BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited) registered under the Companies Act 1913 on the 2nd of August, 1988, started its operations from the 21st of January ,1989. It is governed by the Banking Companies Act 1991. The Bank was established as the policy makers of the country felt the urgency for a bank in the private sector for financing small scale Industries (SSIs). At the outset, the Bank started as a joint venture enterprise of the BCC
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Shariah principles are the foundation for the practice of Islamic finance through the observance of the tenets, conditions and principles espoused by Shariah. Comprehensive compliance with Shariah principles would bring confidence to the general public and the financial markets on the credibility of Islamic finance operations. Bank Negara Malaysia (the Bank) places great importance in ensuring that the overall Islamic financial system operates in accordance with Shariah principles. This is to
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