Difference between Islamic economics and conventional economics? In Islam there is no conflict between matter and soul‚ as there is no separation between economy and religion. Although Islamic economics is young in comparison with conventional economics‚ its characteristics‚ value and essence are appreciated by Muslims and the non-Muslims. The over-arching values of Islamic economics lie in the principle that it is an economic strategy that can achieve unity and harmony between the material and
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THE DIFFERENCES BETWEEN CONVENTIONAL AND ISLAMIC ACCOUNTING ABSTRACT The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of many people as synonymous. There is danger for such kind of perception because the basic building blocks for respective accounting are worlds apart. As for professional accountants who have been taught on the idea for accounting
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Differences between Islamic and Conventional Financial Planning Financial planning is the process of creating strategies in managing financial affairs to meet life goals and the role of the professional financial planner is to analyse the financial circumstances of the client and to provide a plan to meet the client’s financial needs and goals. In carrying out his mission‚ the financial planner shall provide impartial assistance and act in the best interest of the client. For the Islamic financial
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THE DIFFERENCES BETWEEN CONVENTIONAL AND ISLAMIC ACCOUNTING ABSTRACT The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of many people as synonymous. There is danger for such kind of perception because the basic building blocks for respective accounting are worlds apart. As for professional accountants who have been taught on the idea for accounting
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Ecn 401 (MICRO ECONOMICS). THE NATURE OF ECONOMICS 10/66md016 INTRODUCTION. Economic s is the study of human allocates his limited resources among other alternatives used in other to satisfy his wants or desires. Economics is a social science that studies individual economic behaviour‚economic phenomena as well as how individual agents such as consumer firm and government agencies make trade off choice that allocate limited resources
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Difference between Islamic Banks and Conventional Banks The conventional financial system focuses primarily on the economic and financial aspects of transactions‚ the Islamic system places equal emphasis on the ethical‚ moral‚ social‚ and religious dimensions‚ to enhance equality and fairness for the good of society as a whole. The system can be fully appreciated only in the context of Islam’s teachings on the work ethic‚ wealth distribution‚ social and economic justice‚ and the role
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Content Introduction 1 How Islamic banking system is different from conventional one? 1 Maintenance of CRR/SLR: 4 Project appraisal and evaluation: 4 Basis for collection of deposit 5 Moral Dimension 5 Emphasis on Productivity as compared to credit worthiness 5 Scope of the activities: 6 Guarantee for deposit: 6 Distributive justice and economic stability: 7 Allocate Efficiency: 7 Stability of banking system: 8 Growth of the banking
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Islamic Economic System implies a mood of satisfying the economics needs of the members of organized society in accordance with is injection of Quran and Sunnah. It’s derived from the teachings of the Holy Qur’an and explained in his Ahadith by the Holy Prophet (SWT). This system continued in this original form till the death of the Second Caliph Hazrat Umar (RA). The system believes in the private ownership of the means of production‚ distribution and exchange which are managed and controlled by
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Aside from our water and food resources needs‚ energy can be considered as one of the world’s most important recourses. Our world has been supplied with two types of energy‚ the Renewable energy and Conventional energy. From the past decades‚ energy has been a huge help on the economic growth. Through the distribution of energy to the world it has been providing much efficient growth on discovering new technologies and giving job opportunities that drastically helped our local and global economy
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Difference between islamic banking and conventional/ commercial banking BUSHRA TABASSUM IQRA ARSHAD SIDRA MEHAK MEHAK KHAN EMAD KHAN ISLAMIC BANKING: Islamic banking refers to a system of banking activity that is consistent with Islamic law (sharia’h) principles and guided by Islamic economics SHARI’AH – INTRODUCTION • What do we mean when we say ISLAMIC? We certainly mean an • Act‚ action‚ activity or thing that is in conformity with islamic • Teachings; • And when we say shari’ah what do we
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