evil’ to be one of the basic principles of IFI Shariah Audit is due to ensures acceptance, validity and enforceability of contracts from Shariah point of view. Stating by Islamic Financial Services Board (IFSB), Shariah compliance actually is a central in assuring the integrity and credibility of the Institutions offering auditing. They state that Shariah non-compliance risk is the risk that arises from auditing failure to comply with the Shariah rules and principles determined by the relevant body
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the world economy. Banking sector of the world is contributed in the present global economy. To establish a strong banking sector it is required to have good study in banking operations. Today’s Economic policy is concerned to obtain the optimum economic success in a country’s economy. Banking sector and banking activities are playing a vital and important role to achieve that optimum goal of the economy. The successful running of banking business depends upon effective banking operation. As a new
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largest television manufacturer. Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the Amiri Decree No.9 of 1997. The Bank commenced commercial operations on 11 November 1998, and was formally inaugurated by Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18 April 1999. All contracts, operations and transactions are carried out in accordance with Islamic Shari’a principles. ADIB commenced its operations with a paid-up capital
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questions relating to Lloyd banking group, an internationally accredited bank that offers several services. Several issues are addressed in the report. The first issue being addressed is the merit and demerits of globalization in the global financial industry. Additionally, the threats and opportunities facing Lloyd Bank are looked at. The second issue being addressed focuses on the role of strategic alliances of mergers and acquisitions in the implementation of the e-banking system. Lastly, the role
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tenPOTENTIAL ISLAMIC CERTIFICATES FOR RESOURCE MOBILIZATION MOHAMED EL-HENNAWI* 1. INTRODUCTION The development of financial instruments has become an essential ingredient for the economic development of Islamic countries, most of which are underdeveloped. The absence of these instruments, together with the problem of limited resources and skills which are necessary to cope with the growing investment needs, tends to hinder the development process of these countries. Islamic countries need
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MP A R Munich Personal RePEc Archive The Islamic Inter bank Money Market and a Dual Banking System : The Malaysian Experience Bacha, Obiyathulla I. INCEIF the Global University in Islamic Finance 2008 Online at http://mpra.ub.uni-muenchen.de/12699/ MPRA Paper No. 12699, posted 13. January 2009 / 09:41 The Islamic Inter bank Money Market and a Dual Banking System: The Malaysian Experience. (1st Draft : June 2007) (1st Revision : September,2007) (This revision: March, 2008) Obiyathulla
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MODULE 1 ; ISLAMIC ECONOMIC SYSTEM LESSON 4 ; THE BASIC PROHIBITIONS EXPLAIN WHY RIBA AND GHARAR IS PROHIBITED IN ISLAMIC ECONOMIC SYSTEM , GIVING AND EXAMPLE . Technically RIBA includes all forms of income which is not earned by an individual { un earned income } it is not restricted to usury . Islam has categorically prohibited unearned income , for the sake of convenience we can only site the source of prohibition {QURAN 2:278-279}
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SCENARIO Among the current scenarios that exist and practiced in our country these days are: * There are many financial institutions which had offered services by practicing conventional financial transaction which are totally contradict with Islamic thought and teaching. * There are fairly substantial numbers of illegal services in finance field and unregistered with authority, in which some people do not recognize or
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civilization the banking sector dominate the economic development of a country by mobilizing the saving from the general people and channelling those saving for investment and thus economic development and growth. The importance of commercial banks after the ravage of the liberation war to develop a better economy was severally needed and it is needed now and will be required in future also. In time to time Government of Bangladesh agreed to permit the private commercial banking in the country.
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credit risks, and inadequacy of capital. These interrelated banking risks are faced by all commercial banks, agricultural banks and governmental banks. They may be created as a result of inadequate fund allocation, weak labour regulations, mismanagement, an unsuitable operating environment, weak training programmes, bad credit transactions and price fluctuations. Two problems must be mentioned in this regard: difficulty in measuring banking risks, and the lack of specialized management of most agricultural
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