BWFS3023 Islamic Accounting 2nd Semester 2012/2013 Short Essay Assignment Instruction Please answer all the questions below. The assignment should not less than 3 pages and not exceed 10 pages including references. Question 1 The differences between Islamic accounting and conventional can be seen in the context of the basis differentiation which is: (1) objective of providing information‚ (2) the type of the information that is identified‚ how it is measured‚ recorded and communicated
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Islamic Extremists Nearly everyone has heard about Islam and the Arab world. In addition‚ many countries have already faced issues with the Muslim believers. Islam has caused problems‚ terrorist attacks‚ anti-democracy all over the world. They were also very successful in sending a message of who they truly are. People who are literally obedient to the Islamic faith are called Islamic Extremists. People‚ who are of the Islamic faith however desire to survive in peace without tribulations are not
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In the early 1920s‚ as World War I ended‚ nations looked for peace as an outlet and hope for the future. As time passed‚ most countries were happy that the Great War had ended‚ however they were upset with the outcome. Since there were many costly expenses from the war‚ it caused many of the hostile nations to look for strong rulers for change. This allowed many harsh dictators to rise to power. These dictators were aggressive rulers and took forceful actions. In order to combat these aggressive
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Introduction Islamic banking is banking based on Islamic law (Shariah). It follows the Shariah‚ called fiqh muamalat (Islamic rules on transactions). The rules and practices of fiqh muamalat came from the Quran and the Sunnah‚ and other secondary sources of Islamic law such as opinions collectively agreed among Shariah scholars (ijma’)‚ analogy (qiyas) and personal reasoning (ijtihad). The credibility of the Islamic banking activities is highly dependent on the credibility of the Shariah advisers
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congress officially declared it. President Wilson‚ along with many Americans‚ justified their involvement as "an act of high principle and idealism...[and]...as a crusade to make the world safe for democracy." (2) While these are some of the main events‚ there are many other theories regarding why the US entered into World War I. Some propose that
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433–447 Contents lists available at SciVerse ScienceDirect Journal of Banking & Finance journal homepage: www.elsevier.com/locate/jbf Islamic vs. conventional banking: Business model‚ efficiency and stability Thorsten Beck a‚⇑‚ Asli Demirgüç-Kunt b‚ Ouarda Merrouche c a CentER‚ Department of Economics‚ Tilburg University and CEPR‚ The Netherlands World Bank‚ Development Research Group‚ United States c European Securities and Markets Authority‚ Economic Research and Financial Stability Unit
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After World War I‚ European countries were devastated. Europeans were disappointed in their old governments; they felt that they had failed them by causing the war and catapulting them into a depression. Destroyed‚ they turned away from democratic governments and supported communism and fascism simply to avoid democracy. Others were intellectually lost and desperate for leadership. The government encouraged the people’s support by instilling irrational fears amongst their citizens and promising to
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ASSIGNMENT OF ISLAMIC ECONOMICS TOPIC ECONOMIC IMPLEMENTATION OF REDISTRIBUTIVE MEASURES OF ISLAMIC SOCIETY WITH REFERENCE TO PAKISTAN REDISTRIBUTION OF WEALTH Redistribution of wealth is
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INTRODUCTION TO ISLAMIC BANKING The term Islamic banking refers to a banking activity or a system of banking that is in consonance with the basic principles of Islamic Shariah (rules and values set by Islam). Islamic banking is also known as interest free banking system as the Shariah disallows the acceptance of “Riba” or interest rate for the accepting and lending of money. In Islamic banking system‚ a business that offers good interest rates or services is strictly prohibited and it
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birth in Italy in the 14th century and the most famous conventional bank was Medici Bank. The bank system spread to Europe‚ in Amsterdam in the 16th century where much innovation took place‚ in London in the 17th century and finally to the rest of the world. Today‚ major changes and development have occurred and banks are leaders in any country’s financial system. PROPERTIES OF CONVENTIONAL BANKING Conventional banking‚ also known as commercial banking‚ has its own unique properties. 1. Interest
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