In a global environment‚ religious practice frequently affects business practices within organizations. Religion impacts business and social interactions from meetings to greetings‚ holidays and community events and is an inherent factor of cultural values. A culture’s belief systems are invaluable tools for encoding and reinforcing key value orientations within a given group or community‚ thereby lending it cohesiveness in outlook and perspective to the everyday challenges of life. Awareness of
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Capitalization 3 Factors helping Zia to prolong his Regime 3 Macroeconomic Performance under Zia Era 4 Investment and savings 4 Agriculture sector Policies 5 Industrial Sector 5 Price trends 6 Soviet Union Invasion Helps Pakistan 6 Riba Elimination 7 REREGULATION AND LIBERALIZATION 7 Devaluation to support Export 8 Foreign Remittances 8 Balance of Payment 9 CRITICISIMS 12 Appendix 13 ------------------------------------------------- -------------------------------------------------
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Introduction Islamic banking is banking based on Islamic law (Shariah). It follows the Shariah‚ called fiqh muamalat (Islamic rules on transactions). The rules and practices of fiqh muamalat came from the Quran and the Sunnah‚ and other secondary sources of Islamic law such as opinions collectively agreed among Shariah scholars (ijma’)‚ analogy (qiyas) and personal reasoning (ijtihad). The credibility of the Islamic banking activities is highly dependent on the credibility of the Shariah advisers
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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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Contribution of Muslim Scholars to the Development Of Economics as a Science By Talha Waqar Generally‚ Western historians of ideas trace the beginnings of intellectual history from the Greco-Roman period‚ which ended around 300 BC‚ and then focus on the Renaissance (13th-16th century AD). The history of scientific‚ social and cultural thought during the period 300 BC to 12th century AD is either glossed over or ignored altogether. This presumed gap in the history of ideas is called "History’s Black
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cover as in the conventional system. Different views have been expressed about the status of conventional insurance from the point of view of Islam. An overwhelming majority of the Shariah scholars believe that it is unlawful due to involvement of Riba (interest)‚ Maisir (gambling) and Gharar (uncertainty).@ Takaful‚ the Islamic alternative to insurance‚ is based on the concept of social solidarity‚ cooperation and mutual indemnification of losses of members. It is a pact among a group of persons
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Efficiency of Islamic Banks in Malaysia Mariani Abdul Majid* NOR GHANI MD. NOR** FATHIN FAIZAH SAID ABSTRACT IN RECENT YEARS‚ MALAYSIAN ISLAMIC BANKS HAVE TO OPERATE IN AN INCREASINGLY COMPETITIVE ENVIRONMENT. THIS TREND IS EXPECTED TO CONTINUE AS THE COMPETITION FROM CONVENTIONAL BANKS PICKS UP‚ PARTLY IN RESPONSE TO THE ASEAN FREE TRADE AGREEMENT (AFTA)‚ BUT ALSO IN RESPONSE TO THE GENERAL GLOBALIZATION OF MARKETS. HOW ISLAMIC BANKS WILL BE AFFECTED BY THE INCREASED COMPETITIVE PRESSURES
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1.1 ------------------------------------------------- INTRODUCTION 1.2.1 Islamic Finance In this day and age‚ crisis and challenges had continuously interrupted the worldwide financial environment. However‚ Islamic finance remains as a tough and viable financial intermediation. Moreover‚ it has become more important in the international financial system. As a result of developing a comprehensive Islamic financial system‚ Malaysia has gain experiences which brought it ahead toward development
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Elsevier B.V. All rights reserved. Article history: Received 3 June 2008 Received in revised form 20 September 2010 Accepted 20 September 2010 Available online 29 September 2010 JEL classification: P48 E44 G21 N25 Keywords: Islamic Banking Murabaha ¯ Riba Interest-free finance 1. Introduction 1.1. Size and extent of Islamic Banking Worldwide Commonly synonymous with ‘interest-free’ banking‚ Islamic Banking has become a growing force in global financial circles over the past three decades‚ with Islamic
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Understanding The Digital Divide Christopher Bishop Computer Literacy: Inf. 103 Jaclyn Minor Date of submission: 03-11-13 Digital Divide is a term that was incorporated‚ by former President of the United States Bill Clinton‚ in his 2000 State of the
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