RIGHTS OF NON-MUSLIMS IN ISLAMIC STATE Non-Muslim citizens of the Islamic state whose protection is guaranteed by the state as well as individual Muslims are called dhimmis.The term dhimmi or ahl al-dhimma means those Chris-tians‚ Jews and others who agree to live in Dar al-Islam under the protection of Muslim umma subject to rendering military service or in lieu thereof a nominal obligation‚ i.e. payment of Jizya. Under the Islamic law‚ non-Muslim minorities received rights and privileges that
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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 planner
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Culture of Time and Culture By: Stephen Kern As a better understanding of Mass Communication and Society we were encouraged to read the book The Culture of Time and Space by Stephen Kern and analyze the information given from the book and express our ideals and outcomes from it. I believe that the ideas given to the readers from the book were very appealing and interesting‚ especially when combining the ideas of technology and culture. We are usually accustomed to not relate culture with technology;
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Why Are Islamic Banks Becoming Popular? Prince Mohammad Bin Fahd University Writing & Research‚ COMM 1312‚ Section 102 25 January 2010 Abstract The Islamic banking system is currently spreading fast through many Arab and Muslim countries. The question here Why Islamic banks are getting popular? Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shariah and the religious teaching underpinning Islamic
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Introduction Islamic Banking in Bangladesh There are currently seven commercial banks operating under Islamic principles. They are: 1. Islami Bank Bangladesh Limited‚ 2. Al-Arafah Bank Ltd. 3. Social Investment Bank Ltd‚ 4. Exim Bank Ltd‚ 5. Shahjalal Islami Bank Ltd. 6. Icb Islamic Bank Ltd 7. First security Islami Bank Ltd. HISTORICAL BACKGROUND First Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on 29 August 1999as a banking company
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ISLAMIC BUSINESS ETHICS Jamal A. Badawi‚ Ph.D. Saint Mary’s University‚ Halifax‚ N.S.‚ Canada I. INTRODUCTION There are nearly 1.3 Billion Muslims worldwide; about one fifth of the total world population. As is the case with any universal religion‚ a great cultural diversity does exist among them. Similarly‚ the extent of religious commitment and practice varies considerably between individuals and cultures. This poses a major challenge in attempting to deal with business ethics from
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Islamic Banking vs. Conventional Banking In most Islamic countries‚ they tend to practice two types of financing in banking industry which are conventional and Islamic banking. The country like in Malaysia has successfully developed an Islamic banking system that operates in parallel with the conventional banking system. There is similarity between conventional banking and Islamic banking which helps to promote economic growth provided financing services such as credit facilities for business activity
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RETHIKING TRADITION IN MODERN ISLAMIC THOUGT A Book Review RETHIKING TRADITION IN MODERN ISLAMIC THOUGT I. Introduction Since the middle of the nineteenth century‚ Muslim thinkers have faced numerous and repeated challenges to classical Islamic ideas about religious authority. Upheavals in the Muslim world have stimulated widespread reexamination of the classical sources of Islamic law as Muslims have struggled to preserve‚ adapt‚ or redefine their social and legal norms in the face of
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billion Islamic-compliant real estate fund. The fund has been established to develop and own an international chain of hotels‚ and other real estate assets encompassing residential‚ commercial and retail components‚ that abide by Islamic principles. It also spread investment across various complementary commercial real estate assets worldwide. The business model addresses the issue of loss revenue from alcohol and replacing it with alternative revenue generating streams. Adhering to Islamic principles
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Interest Rate Risk in Islamic Banking Introduction Many countries‚ especially those with a substantial number of Muslim citizens operate a dual banking system. This system has both the Islamic and conventional banking systems which cater for the needs of both the Muslim bankers and the non-Muslim bankers. In a conventional and theoretical banking system‚ it would be expected that a change in the banking interest rates would yield a responsorial change for customers in the event that the customers
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