Research Report of Money and Banking Issues and Problems in Islamic Banking Abstract:- Three decades have passed since the first Islamic bank began its operations in MitGhamr‚ Egypt‚ and more than a decade has passed since the Islamic Republics ofIran and Pakistan adopted a non-interest-based financial system. Profit Loss Sharing (PLS) dominates the theoretical literature on Islamic finance. Broadly‚ PLS is a contractual arrangement between two or more transacting parties‚ which allows
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Business and Social Science Vol. 3 No. 11; June 2012 Perception of Non-Muslims Customers towards Islamic Banks in Malaysia Abdul Aziz Abdullah Universiti Sultan Zainal Abidin Kuala Terengganu‚ Terengganu Malaysia Rokiah Sidek International Islamic University Malaysia Gombak‚ Kuala Lumpur Malaysia Ahmad Azrin Adnan Universiti Sultan Zainal Abidin Kuala Terengganu‚ Terengganu Malaysia Abstract Islamic banking products and services are gaining popularity among non-Muslims across the globe due to its
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My opinion about Islamic finance is when all the transaction not only in banking but in business too‚ that occur must be in accordance with the law of Al-Quran‚ Hadith and Al-Sunnah. It also related with halal and non-halal transaction. In general‚ Islamic finance is defined as a banking system which uses the Syariah as a rule. This means that all operations of the Islamic bank transaction involving either deposit or financing‚ must be based on Syariah principle. These laws forbid to giving and receiving
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There are four connections that explain the theological interpretive circle. The first connection‚ spirituality to religion‚ ties the self and the neighbor together. We as individuals differ in our levels of spirituality and our decision making process‚ however‚ we choose our religion based on our beliefs‚ yet we find ourselves entangled with our neighbors who also follow our religions. What separates us is the level of spirituality we contain‚ but we conjoin with our neighbors regardless. This emphasizes
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The Differences and Similarities Between Christianity and Islam Have you ever wondered about the differences and similarities between Christianity and Islam? Both Christianity and Islam are monotheistic‚ meaning they both believe in one God. In both religions God is the creator of everything and is loving and forgiving. He also has a special relationship with humans‚ and has made covenants with them. However‚ there is one major difference between the beliefs of Christians and Muslims regarding
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Therefore it is natural for one to see similarities and differences within the process of attaining knowledge in different areas of knowledge. When the method forming scientific and historical models for human understanding of the world are examined‚ many similarities can be seen. These differences and similarities can also be seen when products of explanations are assessed. When scientific and historical explanations are compared one can see many similarities. Empirical evidence are used in both
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Islamic architecture encompasses a wide range of both secular and religious styles from the foundation of Islam to the present day‚ influencing the design and construction of buildings and structures in Islamic culture. The principal Islamic architectural types are: the Mosque‚ the Tomb‚ the Palace and the Fort. From these four types‚ the vocabulary of Islamic architecture is derived and used for buildings of lesser importance such as public baths‚ fountains and domestic architecture. * 3.1 Persian
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ABDULAZIZ UNIVERSITY Islamic Economics Research Centre ISLAMIC FINANCIAL INSTITUTIONS OF INDIA PROGRESS‚ PROBLEMS AND PROSPECTS Mohammad Ghous Ikhtiyaruddin Bagsiraj Scientific Publishing Centre King Abdulaziz University Jeddah‚ Saudi Arabia ISLAMIC FINANCIAL INSTITUTIONS OF INDIA PROGRESS‚ PROBLEMS AND PROSPECTS Mohammad Ghous Ikhtiyaruddin Bagsiraj Scientific Publishing Centre King Abdulaziz University P.O. Box 1540‚ Jeddah 21441 Saudi Arabia FOREWORD The Islamic financial services
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Contemporary Struggles within Christianity All three of the western religions mentioned have unique struggles that divide the religions and cause some level of conflict. The inward problem within Christianity can be split between two major concerns. The lack of biblical knowledge and the lack of fellowship fellowship are the concern. Aside from culturally based divisions‚ Judaism’s conflicts seem to stem from the pressures of modern society. Some Christians do not have the knowledge of the Bible
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Islamic Banking is a banking system that is based on the principles of Islamic law (also known Shariah) and guided by Islamic economics. The Islamic banking today has become most popular and reliable financial system in the world. The history and evolution of Islamic Banking dates back over 14 centuries ago to the origins of Islam when the Holy Quran was first revealed to Prophet Mohammed (PBUH)‚ hence encompassing a complete set of rules and regulations for all aspects of life put forth in
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