Shariah Audit Programmes Product : Saving Account-I based on Al-Wadiah Yad Dhamanah Product specification : 1) Savings Account-i is based on the "Wadiah Yad Dhamanah" principle, which refers to a contract between the owner of funds (account holder) and the Bank for safe keeping purposes. 2) The account holder as a depositor places his deposits on a trust basis. Maybank Islamic, as a trustee, guarantees the repayment of the whole amount of deposits or any part thereof upon request. Shariah
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Case 4 - Exercise 4-2 (a) INTERNAL CONTROL - PRELIMINARY ANALYSIS CLIENT: Lakeside SYSTEM: DATE: 10/11/12 PREPARED BY: List each document found in this system, the number of copies, and whether it is prepared internally or externally.
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The financial service terms form is part of your Financial Service Agreement with The Toronto-Dominion Bank and its affiliates. The financial service terms document helps explain what the services are provided by the bank with detailing the use and important information about their accounts. When a person signs the financial service agreement any existing agreement between the bank and the person who signs the agreement, for any particular product or service is replaced by this new agreement. There
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concept of credit creation is used. Similarly deposit creation is an important function of commercial banks. Without deposit they cannot lend at all. When the banks receive cash from customers, deposit are created . These deposits may be current, saving or fixed. Depositors choose the types on the basis of their needs and requirements like; safety, convenience or earning. People deposit their income in commercial banks because bank vault are safer that home coffers. The bank attracts deposits from
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Introduction Bank introductions EXIM Bank (Export Import Bank of Bangladesh Limited) was incorporated on June2, 1999 as a private sector banking company under the company’s act 1994 and started its operations on August3, 1999. The bank has authorized capital of BDT 3.5 billion and a paid up capital of BDT 2.68. The bank is listed in both DSE and CSE. Company Details Business Operations -Sariah based Islami banking service Chairpersons-Md. Nazrul Islam Majumdar Directors-Md. Faiz Ullah
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rate of Interest is paid by banks on savings bank accounts? With effect from October 25, 2011, saving bank deposit interest rate stands deregulated. Accordingly, banks are free to determine their savings bank deposit interest rate, subject to the following two conditions: (a) First, each bank will have to offer a uniform interest rate on savings bank deposits up to Rs.1 lakh, irrespective of the amount in the account within this limit. (b) Second, for savings bank deposits over Rs.1 lakh, a bank
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Substantive Audit Program- Cash Balances Assertions: 1. The amount of cash is not materially more than the amount shown on the balance sheet. (checked with procedure 3, 5 and 7) 2. All cash has been recorded. (Checked with procedures 3, 5 and 7) 3. Cash is correctly shown as a current asset. (Checked with procedure 12) 4. Cash is not restricted to noncurrent use. (Checked with procedure 12) 5. All deposits and disbursements of cash reflect transactions before the end of the year
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when it comes to the incredible variety of vegetables available, backyard seed-savers also deserve due recognition. Saving the seed from any heirloom vegetable is easy. If you have a favorite variety, or even just want to try seed saving for the fun of it, take a few minutes to learn about the process and give it a go. Many of us learn about the basic principles of seed saving in grade school. Kids are usually taught how to collect seed by drying and picking apart enormous sunflowers, or by threshing
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Cash Control Wilmington University June 28, 2015 This paper was prepared for Leadership Development and Change Management MGT 6503 Week 7 Final Project: Cash Control Cash Control In an organization as large as the healthcare system I work for, each clinical department has their own financial group consisting of a Chief Financial Officer and a Director who is supported by two to three accountants. To name a few, some of these many clinical
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Assignment #2 Cash The information that follows is grouped into two categories: 1) Internal Control and 2) Substantive Audit Procedures. This information is to be used to complete the exercises for this assignment. Relevant Information Internal Control Peach Blossom Cologne Company’s general disbursement checking account (account number 101) is with the Big City National Bank, Main at Michigan Avenue, Chicago, Illinois. It is used for all cash receipts and disbursements transactions
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