God.[10] The Islamic Golden Age‚ which is traditionally dated as being the 8th–13th centuries‚ was marked by the ascension of the Abbasid Caliphate. The Abbasids were influenced by the Quran’s injunction that “the ink of the scholar is more holy than the blood of the martyr.” During this time‚ the Arab world became an intellectual center for science‚ astronomy‚ chemistry‚ physics‚ mathematics‚ philosophy‚ medicine‚ and education.[2] Islam is the fastest-growing religion in the world today There
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An Islamic Approach to Business Ethics | Dr Sabahuddin Azmi[1] What is Ethics? * Ethics may be defined as the set of moral principles that distinguish what is right from what is wrong. * Ethics has a twofold objective: it evaluates human practices by calling upon moral standards; also it may give advice on how to act morally in a given situation. * Ethics‚ aims to study both moral and immoral behaviour in order to make well-founded judgments and to arrive at adequate recommendations
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Bismillahir Rahmanir Rahim An Empirical Study of Performance of Islamic Banks in Bangladesh with special reference to Islami Bank Bangladesh Ltd By Shah Abdul Hannan‚ Former Secretary‚ Ministry of Finance‚ Government of Bangladesh and M. Fariduddin Ahmad Deputy Executive President Islami Bank Bangladesh Limited ________________________________________________ SECTION – I Banking Scenario in Bangladesh When Bangladesh came into existence on the 16th December‚ 1971‚ the banking sector of Bangladesh
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Journal of Business and Social Science Vol. 2 No. 5; [Special Issue -March 2011] Illusive and Regressive Globalization: Issues and Challenges for Pakistan’s Economy Muhammad Iqbal Anjum Assistant Professor International Institute of Islamic Economics‚ International Islamic University Islamabad‚ Pakistan E-mail: miqbalanjum@iiu.edu.pk Abstract In a mesmerizing scenario of the aura of glamorous globalization‚ Pakistan has entered the 21st century with ambivalent presentiment of hope and gloom in the context
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some harmful effects. Interest free Islamic banking; on the other hand‚ work on the principles of equality and justice. For example in interest free Islamic banking‚ interest is considered to be most exploitative‚ particularly for the poor‚ therefore prohibited. Similarly the speculation‚ alcohol and other anti-social business like casino is not permitted to be financed by these banks. This paper is an attempt to present the role of interest free Islamic banking in reducing the gap between the
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Advocacy Letter dear: Mauril Belanger‚ I’m contacting you about an issue that is of deep concern to the resident’s and myself. The Ahlul-Bayt Islamic School/Community Centre/Scouts in the Vanier area. Their in the need of a proper play ground for the children to play.The play area for the children is all pavement and fencing‚ they also have no where for the kinder gardeners to play‚ the structure is old and rusted and its all fenced in. There also ain’t no ramp for any child with a weel chair
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of Islamic Banking system is increasing since the financial crisis in 2008. Islamic financial market activity as well as in some developed countries such as Australia‚ Bahamas‚ Canada‚ Cayman Islands‚ Danish‚ Guernsey‚ jersey‚ Ireland‚ Luxembourgh‚ Switzerland‚ United Kingdom‚ United States‚ and Virgin Islands also grow (Latifa and Mervyn 2001‚ p.9). Base on Bank Indonesia report at the third quarter 2009‚ The Banker’s survey in 2009 showed that the asset managed by the 500 largest Islamic financial
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International Journal of Islamic Financial Services‚ Vol. 5‚ No. 3 AN EXPLORATORY STUDY OF IJARAH ACCOUNTING PRACTICES IN MALAYSIAN FINANCIAL INSTITUTIONS Ros Aniza Mohd. Shariff Abdul Rahim Abdul Rahman Prior studies on Ijarah were mainly focusing on the economics‚ legal and financial aspects‚ there was‚ however‚ so far no in-depth study on accounting for Ijarah. The main objective of this study is to explore the nature of accounting for Ijarah financial instruments as practiced by Malaysian
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Paper presented at the 5th International Islamic Finance Conference 2007‚ organized by Monash University‚ Kuala Lumpur‚ 3rd – 4th September 2007. Commodity Murabahah Programme (CMP): An Innovative Approach to Liquidity Management By: Dr. Asyraf Wajdi Dusuki * Department of Economics Kulliyyah of Economics and Management Sciences International Islamic University Malaysia P.O. Box‚ 50728 Kuala Lumpur Malaysia Tel: +00 603 6196 4664 Fax: +00 603 6196 4850 Email: asyraf.w@iiu.edu.my Abstract Liquidity
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The Case of Affin Islamic Bank Berhad Aisyah Abdul Rahman‚ PhD. eychah@ukm.my Rahazilah Binti Rahman School of Business‚ Faculty of Economy and Management‚ Universiti Kebangsaan Malaysia‚ 43600 UKM Bangi‚ Selangor‚ Malaysia. Abstract Al-Ijarah Thumma Al-Bay‟ (AITAB) is the contemporary innovative product that specifically designed for Islamic hire-purchase facility with compliance of Shariah principle. Even though AITAB facility was established more than ten years ago in Islamic banking‚ there is
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