1. What is Al-Awfar Savings and Investment Account-i? Al-Awfar is a unique savings and investment account based on the Mudharabah‚ a contract of profit-sharing. 2. What is the meaning of Al-Awfar? Al-Awfar means “prosperous investment”. 3. What is the difference between Al-Awfar Savings Account and Investment Account-i and the normal Bank Islam Savings Account-i and General Investment Account-i (GIA)? Al-Awfar Savings and Investment Account-i is a rewarding account that offers a host
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Capital Markets and Investment Banking Process FIN 402 Capital Markets and Investment Banking Process To be aware of fiscal scale as well as assess welfare of any sort of company the Investment Banking is an important factor Germaine to the predicament of the fiscal welfare of a person or a company of any scale. For the efficient manufacturing and sizes there is not any ideal strategy which has been forecasted these days. To match the aim‚ vision and objectives described through the fiscal
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Bank is a financial institution whose main aim is to earn profit through exchange of money and credit instruments. A banking company must perform both of the essential function accepting of deposits and lending or investing the same. If the purpose of acceptance of deposits is not to lend or invest‚ the business will not be called banking business. It may be said that banking in its most simple form‚ is as old as authentic history. As early as 2000 B.C. Bany Lonians has developed a system of banks
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Despite of most of the Islamic jurists agreed upon the permissibility of Musharakah Mutanaqisah‚ there are some scholars who hold different opinions. The majority of scholars believes that it is permissible and shariah compliant. As stated in the Qur‟an: “If the man or woman whose inheritance is in question‚ has left neither ascendants nor descendants‚ but has left a brother or a sister‚ Each one of the two gets a sixth; but if more than two‚ they share in a third; after payment of legacies and debts;
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Abstract Family Takaful was one of the financial instrument that benefit people. However‚ the participant of the Family Takaful was still little. Family Takaful was one of alternative for a Muslim in getting Shariah complaint as compared to the conventional life insurance. The Muslim needs to follow the Shariah stated by Allah where all the transactions or business must be halal and clean from prohibited element. The life insurance was containing the prohibited element such as gharar (uncertainty)
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upon profit. ﺢﺑﺍﺭﻣﺍ ﺢﻳﺑ " Bai-Murabaha" means sale on agreed upon profit. 1.02 Definition Bai-Murabaha may be defined as a contract between a Buyer and a Seller under which the Seller sells certain specific goods permissible under Islamic Shariah and the Law of the land to the Buyer at a cost plus agreed profit payable in cash or on any fixed future date in lump sum or by instalments. The profit marked-up may be fixed in lump sum or in percentage of the cost price of the goods.
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Pak Islamic Bank enters into Modaraba transaction with four Modarib on the below given terms . Workout the transactions on prescribe format: * Ali Associates Rs.300‚000 MF@10%‚ Profit 40:60 proceeds Rs.410‚000 * Scan Group Rs.500‚000 MF@7% Profit 35:65 Expected Proceeds 612‚000 * Karachi Electric Rs.800‚000 MF @9% profit 50:50 Proceeds Rs.978‚000 * Sailor Services Rs.300‚000 @5% Profit 60:40 Proceed 255‚000. | ------------------------------------------------- Scan Pakistan issued LPO of
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Introduction E lectronic banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution. The following terms all refer to one form or another of electronic banking: personal computer (PC) banking‚ Internet banking‚ virtual banking‚ online banking‚ home banking‚ remote electronic banking‚ and phone banking. PC banking and Internet or online banking are the most frequently used designations. It should
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branch network thorough‚ which they provide a comprehensive banking service to their customers‚ which includes wealthy individuals‚ corporate clients and financial institutions. Customer’s satisfaction is the top priority of the bank. Bank in its goal has mentioned that customer’s expectations will be meeting through innovative financial products and services. As an intern of Janata Bank Limited I was provided with the topic “general banking functions and Customer Satisfaction- an Observation from
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8th International Conference on Islamic Economics and Finance Islamic Corporate Social Responsibility in Islamic Banking; Towards Poverty Alleviation Muhammad Yasir Yusuf 1 Zakaria bin Bahari 2 One of the goals of Islamic banking operations is to increase the economic growth towards a better and just society. This study aims to examine the criteria and Islamic instrument of corporate social responsibility towards the creation of a sustainable economic development. Specifically‚ the study analyses
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