Journal of Economic Behavior & Organization journal homepage: www.elsevier.com/locate/jebo How ‘Islamic’ is Islamic Banking? Feisal Khan ∗ Dept. of Economics‚ Hobart and William Smith Colleges‚ 300 Pulteney Street‚ Geneva‚ NY 14456‚ United States a r t i c l e i n f o a b s t r a c t Islamic Banks hold well over US $700 billion in assets and are growing at over 15% p.a. Islamic Banking and Finance (IBF) involves wider ethical and moral issues than simply ‘interest-free’ transactions
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Intercultural differences Saudi Arabia Value system: Society as a whole valued behavior displaying generosity‚ selflessness‚ and hospitality; deference to those above in the hierarchy of the family; freedom from dependence on others and mastery over one’s emotions; and willingness to support other family members and assume responsibility for their errors. Chastity and sexual modesty were also very highly valued. Applied primarily to women‚ these values were not only tied to family honor
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Introduction Islamic finance has come a far since its active re-introduction about 25 years ago. Presently‚ it is estimated that Islamic banks and financial institutions manage some US$200 billion of funds all over the world. Although small in terms of the total global assets managed by financial intermediaries‚ the growth rate is impressive by any standards. Based on the article review which is “Globalization of Islamic Finance: Myth or Reality?’” it had discussed on the question of whether the
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Chapter 1 Introduction 1.1 Background Islamic legal principles regulate the conduct and content of commercial transactions in Islamic Banking. The most important of these principles is the prohibition of riba‚ any predetermined or fixed return in financial transactions. As stated in Quran: “Allah forbids riba and permits trade.” While there is much debate about the exact nature of this prohibition on riba‚ there exists a widespread perception that the ban on riba implies ban on interest
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Spies in Arabia Priya Satia‚ writes Spies in Arabia: The Great War and the Cultural Foundations of Britain’s Covert Empire in the Middle East to examine the establishment of the pre-war intelligence community in the Middle East and the eventual establishment of Britain’s covert empire following World War I. Of particular focus is the cultural characteristics of Edwardian intelligence agents and Britain’s use of air control in Arabia. Satia greatly contributes to the scholarship of British occupation
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Key Negotiation Issues | Bottomline | Objective | Initial Requirement | Technical Issues: | | | | List of furniture | All furniture features shall be detailed in the list. Drawings‚ instructions‚ characteristics‚ prices… | All furniture features shall be detailed in the list. Drawings‚ instructions‚ characteristics‚ prices… | All furniture features shall be detailed in the list. Drawings‚ instructions‚ characteristics‚ prices… | Furniture certification (Certificate of Origin) | One of
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Islamic Fundamentalism: Myth and Reality Confronted? Dr Zaniah Marshallsay School of International Studies University of South Australia Refereed paper presented to the Australasian Political Studies Association Conference University of Adelaide 29 September – 1 October 2004 Zaniah Marshallsay: Islamic Fundamentalism Introduction Language is power‚ and terms consistently used take on a reality that truth belies. Thus with the term Islamic fundamentalism‚ which has been bandied about
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democratic and non democratic societies. (Edwards M B‚ 2006) More Specifically‚ Islamic fundamentalism involves having diverse political as well as social movements in various Muslim countries that have the shared goal of creating more Islamic oriented states and societies‚ which are based on the fundamental principles and values of Islam. The Islamic fundamentalists have the aim of implementing the Sharia (Islamic Law) to public lives. Sharia could be to reffered to as in the court of law‚ palaces
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[pic] ISLAMIC BANKING: IS IT REALLY “ISLAMIC”? By: Omar Mustafa Ansari & Faizan Ahmed Memon Is it really Islamic? …. In this era of development and growth in Islamic finance and banking‚ this is a question being raised at every forum by various quarters. All those who raise this question‚ are undoubtedly well-wishers of Islam‚ Islamic economic system and Muslim Ummah. Accordingly‚ while we celebrate the achievements of Islamic banking on one hand‚ we should not
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Women’s Rights in Saudi Arabia Being born and raised in America‚ I and many other Americans have been taught that we live in a country of freedom. Women and men are treated equally; every human being has rights‚ and you have the freedom to move at will and without restrictions. Women have come a long way in our country‚ gaining rights ever since the dawn of patriarchy and proving that they are just as good as men with the ability to think‚ speak‚ and act for themselves. However‚ discrimination
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