FOUNDATION OF ISLAMIC FINANCE ISF 1101 SEMESTER 2 2013/2014 DEVELOPMENT OF ISLAMIC BANKING AND FINANCE IN SINGAPORE INTRODUCTION Singapore or officially known as the Republic of Singapore is an island city-state which situated in the Southeast Asia specifically lies off the southern tip of Malaysia peninsular. The total area of Singapore is 716.1 square kilometres or 270 square miles and it accommodates approximately 5‚599‚200 citizens and 823‚082 of them are consists of Muslims
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Contents Introduction Islamic finance – financial institutions and products designed to comply with the central tenets of Sharia (or Islamic law) – is one of the most rapidly growing segments of the global finance industry. Starting with the Dubai Islamic Bank in 1975 (and operations in the United Arab Emirates‚ Egypt‚ the Cayman Islands‚ Sudan‚ Lebanon‚ the Bahamas‚ Bosnia‚ Bahrain and Pakistan)‚ the number of Islamic financial institutions worldwide now exceeds over
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LAWS OF MALAYSIA Act 276 Islamic Banking Act 1983 Date of Royal Assent Date of publication in the Gazette 9-Mar-1983 10-Mar-1983 An Act to provide for the licensing and regulation of Islamic banking business. PU(B) 182/1983 [7th April 1983] ARRANGEMENT OF SECTIONS PART I PRELIMINARY 1. Short title‚ commencement and application. 2. Interpretation. PART II LICENSING OF ISLAMIC BANKS 3. Islamic banking business to be transacted only by a licensed Islamic bank. 4. Minister may vary or
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SWOT Analysis of Bank Al-Falah Here we have applied this very useful technique to identifythe strengths‚ weaknesses‚ opportunities and threats ofBank Al-Falah. Strengths Strengths Strong Financial Position Strong Financial Position As we can see in the financial statements of the bank‚ the financial position of the organization is very sound and its profitability is in increasing. The Earning per sharehas been increased on a rate of about 50%‚ which is a verypositive sign. Highly Qualified
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from of the Hadith of Prophet Muhammad S.A.W. Narrated by Anas Ibn Malik‚ “The people said: Apostle of Allah‚ prices has shot up‚ so fix prices for us. Thereupon the Apostle of Allah (PBUH) said: “Verily‚ Allah S.W.T. determines the climate of economic affluence and gloom. I do not want to take any action to fix the prices because I do not want‚ later in hereafter‚ any among you to demand for the return of your property and blood from me because of my tyranny (in fixing the prices).” In the above
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They are born with masks and unveiling these “sacred amulets” is considered a sacrilege to their faith‚ rendering their lives in darkness‚ however. But despite all of this‚ Islamic women are found to be surprisingly enlighteners with an increasing number working as scientists‚ researchers and culturists. Such telling bodies of evidence hold the answer itself: when it comes to true power‚ women cannot be ignored. If given more
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International Journal of Economics and Financial Issues Vol. 3‚ No. 3‚ 2013‚ pp.743-751 ISSN: 2146-4138 www.econjournals.com Foreign Aid and Economic Growth in Egypt: A Cointegration Analysis Hoda Abd El Hamid Ali Department of Economics and Foreign Trade‚ Faculty of Commerce and Business Administration‚ Helwan University‚ Cairo‚ Egypt. Tel: 00201003452575. Email: hoda_hawary@yahoo.com ABSTRACT: There is a current and growing debate on the effectiveness of foreign aid‚ especially in
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Based Banking on SocioEconomic Environment and Its Solution through Islamic Finance Concepts Mohd Saleem*‚ Matloob Ullah Khan**‚ Dr. Sadaf Siraj** *VAG Management Services‚ DDE Sikkim Manipal University‚ New Delhi‚ India **Department of Management‚ Jamia Hamdard‚ New Delhi‚ India Abstract- The main objectives of this paper are to trace the emergence and importance of interest based banking and it impact on socio-economic environment. The impact of interest based banking system was focused
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Islamic Golden Age The Islamic Golden Age or the Islamic Renaissance‚ is traditionally dated from the 8th to 13th centuries A.D.‚ but has been extended by one scholar to at least the 15th century by recent scholarship. During this period‚ artists‚ engineers‚ scholars‚ poets‚ philosophers‚ geographers and traders in the Islamic world contributed to agriculture‚ the arts‚ economics‚ industry‚ law‚ literature‚ navigation‚ philosophy‚ sciences‚ sociology‚ and technology‚ both by preserving earlier traditions
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SINS AND REWARDS: ISLAMIC PERSPECTIVE وَلَقَدْ خَلَقْنَا الْإِنسَانَ مِن سُلَالَةٍ مّنِ طِينٍ(12) ثُمَّ جَعَلْنَاهُ نُطْفَةً فِي قَرَارٍ مَّكِين (13) ثُمَّ خَلَقْنَا النُّطْفَةَ عَلَقَةً فَخَلَقْنَا الْعَلَقَةَ مُضْغَةً فَخَلَقْنَا الْمُضْغَةَ عِظَامًا فَكَسَوْنَا الْعِظَامَ لَحْمًا ثُمَّ أَنشَأْنَاهُ خَلْقًا آخَرَ فَتَبَارَكَ اللَّهُ أَحْسَنُ الْخَالِقِينَ(14) Meaning: Man We did create from a quintessence (of clay) (12) Then We placed him as (a drop of) sperm in a place of rest‚ firmly fixed
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