1. What is Al-Awfar Savings and Investment Account-i? Al-Awfar is a unique savings and investment account based on the Mudharabah‚ a contract of profit-sharing. 2. What is the meaning of Al-Awfar? Al-Awfar means “prosperous investment”. 3. What is the difference between Al-Awfar Savings Account and Investment Account-i and the normal Bank Islam Savings Account-i and General Investment Account-i (GIA)? Al-Awfar Savings and Investment Account-i is a rewarding account that offers a host
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will pray 5 times daily in a ritualistic fashion facing Mecca and saying certain prayers while they bow and are on their knees. This prayer is very important as it is a reminder to Islamic people that God is in every part of life. The third pillar‚ zakat‚ is about charity and giving to those in need. This is really about keeping ones soul pure by helping those around them who are less fortunate. Muslims will donate certain amounts of their wealth to Muslims less fortunate as it will decrease inequality
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reach their destination then they would preach to the traders about Islam and the way of life because Islam is not just a religion but it is in fact a way of life. So the traders would tell them the Islamic way of living and the five pillars giving Zakat and the Hajj and everything. Some of the traders like the sound of the one god an their way of life so they convert to Islam and then they do the same to people who come to trade with Mecca. Whenever the Muslims
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----------------------- A PRIMA - FACIE CASE FOR ISLAMIC ACCOUNTING • Purpose Accounting : To permit informed decision which will enable scare resources to be allocated efficient to achieved ‘social welfare’. |Islamic |Conversational | |To achieve socio – |To meet needs of | |economic & religions|‘capitalist’ | |objective of Islamic|economy. | |Institution & | | |Muslims Users. | | |Provide holistic
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Political Policies: Zulfiqar Ali Bhutto: Constitution: Bhutto is considered the main architect of 1973 constitution as part of his vision to put Pakistan to road to parliamentary democracy. One of the major achievement in Bhutto ’s life was drafting of Pakistan ’s first ever consensus constitution to the country.] Bhutto supervised the promulgation of 1973 constitution that triggered an unstoppable constitutional revolution through his politics wedded to the emancipation of the downtrodden masses
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The Al-Buraimi is an Oasis town that borders the United Arab Emirates and is adjacent to the city of Al Ain which belongs to the Emirate of Abu Dhabi. The Geographical Landscape of this Oasis town is extremely different from its neighbor the city of Al Ain because its mostly gravel and rocks. Also‚ the city of Al-Buraimi is smaller in size than Al Ain which results in it being less prosperous than its neighbor. For decades‚ the cities of Al-Buraimi and Al Ain have had an open border between them
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The three oldest religions are Judaism‚ Christianity and Islam. Judaism is a one of the oldest religions known to people. Judaism is a monotheistic religion‚ which means that Jewish people pray to only one g-d. There weren’t too many religions like this when it originated which made Judaism very unique at the time. Moses was one of the most famous Jewish prophets. He led the Jewish people out of slavery‚ led them to Mount Sinai and received the Ten Commandments‚ a set of rules that people even
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or oneself‚ 4) God will judge all people in the end‚ and 5) if a person fulfilled the divine command‚ they will go to heaven (Clark 10). These beliefs contain the five pillars of worship within the foundation of Islam‚ 1) the Shahada‚ 2) Salat‚ 3) Zakat‚ 4) Saum‚ and 5) Hajj (Clark 139-160). The first pillar Shahada means testifying before God. This is like preaching in public (Clark 140)‚ for Christian’s this is known as evangelism. The second pillar Salat is ritual prayer at set times and body position
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Illustrate the fundamentals of Islamic banking by comparing and evaluating an Islamic bank with a western one. Introduction: This report seeks to give an analysis of Islamic Banking and an organisational comparison to a corporate Global banking system/western one whilst identifying key issues and challenges that may arise for the use of such Islamic banking in the United Kingdom. “Islamic banking is a growing sector with its diversity in different segments and spectrum. It Caters to religious
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believing and professing the unity of God and the messenger-ship of Muhammad. Muslims say it when they wake up or before the sleep. b) Salaht: Muslim must pray 5 times a day and each prayer has specific time and starts at the age of 10. c) Zakat: what Muslims donate to charity or almsgiving and it must be donate at least two and
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