Islamic financial institutions are: 1. Contract of Rahn (Pledge) 2. Contract of Kafalah or Dhaman (Guarantee) 3. Contract of Wakalah (Agency) 4. Contract of Wadiah (Safe Custody) 5. Contract of Ibraa (Rebate) Contract Of Rahn (Pledge) The conditions to each essential elements of Rahn are as follows: a. Pledgor (customer) b. Pledgee (eg: Islamic Bank) 3 necessary conditions of ‘Pledgor and Pledgee’ as follows: i. They must be capable of taking responsibility ii.
Premium Debt Debtor Money
Though we would wish it different‚ there are too many people who still demonstrate that ugly side of human nature. More recently in Western “civilisations”‚ bullying has lead to violence against innocent people‚ particularly those who are considered “odd’ when compared to the majority of the population‚ whether based on ethnicity‚ sexual preference‚ physical attributes etc. (in truth‚ there is no real justification for bullying‚ since people get picked on for something as simple as having a different
Premium Chief executive officer Executive officer Child
COM/155 Final Assignment Paragraph five explained in detail about how hard it is to avoid and manage debt. The author gave superior examples about paying bills‚ going to the grocery store‚ and unexpected bills like car tags. He or she also included that we are told to use cash instead of credit cards to stay out of debt. What if the use of a credit card keeps us ahead according to the other bills and unexpected visits to the doctor? There are many stressors that can arise in daily life
Premium Debt Money Credit cards
comparison of EQUITY AND DEBT MARKET. This project also helps to understand which market is best the equity or the debt market by correlating the debt and equity. EQUITY MARKET The market in which shares are issued and traded‚ either through exchanges or over-the-counter markets. Also known as the stock market‚ it is one of the most vital areas of a market economy because it gives companies access to capital and investors a slice of ownership in a company with the potential to realize gains based
Premium Stock exchange Stock market Stock
October‚ 2013 This note relates to the derivation of the “quick and dirty” formula for estimating the bias generated by using the YTM as an approximation of the expected return on debt. The assumptions: 1. Debt is perpetual 2. probability of default is δ in each period. The probability is the same in every period 3. If default occurs‚ bondholders receive ρ fraction of the face (principal) value of the bond plus accrued interest. 4. Bond is sold at par‚ i.e.‚ the bonds initial price equals its
Premium Probability theory Loan Money
their dream job. Many good paying jobs usually require a degree of some sort and people attend school with the help of borrowing money which puts them in debt. School debt piles up after each year of school a person has attended. The problem of college debt has several solutions‚ and one is superior over the others. Applying for college is a long process and is very expensive. It requires a lot of time and planning. Over the past 15 years‚ the average tuition for college has doubled. College tuition
Premium University Higher education College
College debt is a nation-wide phenomenon that many Americans face. Unfortunately‚ this country is facing over 1 trillion in student loans from dropout students or graduated students who owe money from their years of education. The financial crisis has caught many Americans by surprise and this problem will only get worse if this trend continues. Despite the fact that college debt is increasing‚ fortunately there are several solution to this problem. As proven above‚ college debt is an issue that
Premium Debt University Education
Are You Proud of Your Country? I wonder if I could walk up to a person and ask‚ “Are you Proud of Your Country?” and see what they would say. What some people don’t realize is that they are really lucky to live in a country as great as ours. The United States is a free country that is protected by laws and amendments. The laws are to ensure our safety as people‚ and the amendments are to ensure that we are treated as we should be‚ and to provide something that hasn’t been declared in the Constitution
Premium United States Constitution First Amendment to the United States Constitution Fourteenth Amendment to the United States Constitution
considerable student loan debt. While everyone knows how important it is to save for retirement‚ many wonder whether they should attempt to pay off their student loans before they start investing. Legacy Financial Group‚ a financial planning firm serving clients throughout the Granbury area‚ understands that this is a difficult decision‚ and is here to offer some insight. On the one hand‚ paying off any type of debt can be considered a type of investment‚ saving you the interest you might otherwise pay
Premium Debt University Higher education
World War II (1939 – 1945) was an international disaster created by a series of long term and short term effects. The creation of the Treaty of Versailles was the most important long term effect on WWII and created an environment that made the war inevitable. The precursor to the creation of the Treaty of Versailles (1919) was the end of World War I (1914 – 1918) on the 11th of November‚ 1918 when Germany signed an armistice with the Allied powers. Three months after the end of WWI‚ the Paris Peace
Premium World War II Adolf Hitler