LAW 240 ISLAMIC BANKING PRODUCT 05/29/13 ISLAMIC BANKING PRODUCT 1 05/29/13 ISLAMIC BANKING PRODUCT 2 05/29/13 ISLAMIC BANKING PRODUCT 3 AL-WADIAH (CURRENT A/C) • Based on the Islamic principle of Al-Wadi’ah Yad-Dhamanah (Guaranteed Safe Custody) • Can withdraw all or part of money whenever want. • Free from Riba (Usury) and is the clear and pure way to bank. • Can be opened by an individual aged 18 years and above with the capacity to contract‚ or a company‚ organisation
Premium Islamic banking Profit Contract
“There is a gap between all the money coming in to Islamic banks and the deployment of that money into real economic assets‚” says Sayd Farook‚ the global head of Islamic finance at Thomson Reuters. “A crazy amount of money has gone into their coffers and they need somewhere to invest it.” There was a need for a bank that followed the rules and bans of certain investments and money handling‚ and this began the establishment of Islamic Banks in the 1970’s. The establishment of these banks opened a
Premium Islamic banking Bank Investment
It wasn ’t until 622 AD that the Islamic religion took its lead. It started with the creator‚ Prophet Muhammad and his followers fleeing to the town of Yathrib and starting the first Hijra movement. This movement began the popularity of the Islamic faith (Patel). Today the Islamic faith is one of the most practiced religions in the world. The Islamic faith goes back to the town of Mecca‚ which is considered for them the holiest place in the world. The Kaaba‚ which is located in Mecca‚ holds many
Premium Islam Muhammad Sharia
Chinese Civilization It was known to be the oldest civilization‚ which formed dynasties all through. This irreplaceable nation had the most important source‚ silk‚ that we still use in everyday life. One of the smartest‚ and detailed regions‚ known of today. To modern day period‚ one of Americas biggest commerce‚ and trade countries of all tools. Though devastated through the industrial revolution‚ a period of time between the 18th and 19th century. Which made changes in their old way of
Free Qin Shi Huang China Han Dynasty
1 The Birth of Civilization Mohenjo-Daro Figure. Scholars believe this limestone statue from about 2500 B.C.E. depicts a king or a priest from Mohenjo-Daro in the Indus valley in present-day Pakistan. Does this figure seem to emphasize the features of a particular person or the attributes of a particular role? Hear the Audio for Chapter 1 at www.myhistorylab.com CRAIMC01_xxxii-031hr2.qxp 2/17/11 3:22 PM Page xxxii EARLY HUMANS AND THEIR CULTURE page 1 WHY IS “culture” considered a defining
Premium Ancient Egypt Mesopotamia Neolithic
MANAGEMENT FROM ISLAMIC PERSPECTIVE DEFINITION ♛ Management from Islamic perspective defined as‚ the ability to utilize resources both material and human‚ optimally in order to achieve goals‚ be it short term or long-term goals. ♛ It has been practiced since the era of our prophet‚ Muhammad s.a.w. It based on the teachings generated from the holy Al’-Quran and the As’-Sunnah. It sources that provided guidance in making decisions. ♛ The leadership under our prophet Muhammad s.a.w through the Islamic way of
Premium Muhammad Management Muslim
Early civilizations formed years and years back. Two of these civilizations include ancient Egypt and ancient Mesopotamia. The mentioned societies had such advancements that people in their time did not really have. Since the regions were near each other‚ they obtained many ideas from one another. Though they had similar ideas‚ there were also differences. These similarities and differences included topics in culture‚ economy‚ and government and politics. One of the major similarities both Egypt
Premium Ancient Egypt Ancient Near East Mesopotamia
Islamic banking and finance An alternative form of banking which challenges the western norms and addresses it limits. But it shouldn’t really be considered a norm just because it is developed in the West‚ based on capitalist ideas. Other forms of banking such as IBF have been around for many years’ especially Islamic countries but just ignored by economic geographers as they were in the global South. It is not an ‘emerging’ method; it has been successful in many Middle Eastern and Asian countries
Premium Islamic banking Sharia Debt
pay Zakah and undertake Hajj‚ so it teaches us how to run a state‚ from a government‚ elect councilors and members of parliament‚ make treaties and conduct business and commerce. Bear in mind that Islamic ruling system is not the same as the ruling system we have in the non-islamic countries. The Islamic Political System is based on the following main principles: Sovereignty of Allah‚ Khilafah of Mankind‚ Legislation by Shura‚ Accountibility of government‚ Independence of judiciary‚ and Equality before
Premium Islam Muhammad Qur'an
illnesses spread and How can we protect ourselves from these illnesses Have you ever got coughed on and then the next day you are at home in your bed resting because you got sick. Well‚ everyone probably knows what I am talking about and got sick this way at least once in their life time. Today I am here to talk about many different ways a viral illness can spread and how you can protect from it. The most common illness you hear about the most is the common cold. The cold can spread in many ways
Premium Influenza Common cold Virus