The Formation of Islamic Law In pre-Islamic time law lacked a formal structure as there was no set of laws that united the Arabic world. Towns‚ cities and rural areas all held different laws that were based on tribal tradition. With the revelations of the Prophet‚ a new religion was born: Islam. The Prophet began to introduce the word of Allah to the people and with that came basic laws that provided an introduction to law. The formation of Islamic law was based on three things‚ the Qur’an‚ the
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A Comparative Study of Islamic Banking in Pakistan: Proposing and Testing a Model BY Ashfaq Ahmad PhD Scholar 117/FUIMCS/Ph.D(MS)-2006 FACULTY OF MANAGEMENT SCIENCES 2009 A Comparative Study of Islamic Banking in Pakistan: Proposing and Testing a Model A thesis submitted to the FUIEMS Foundation University‚ Islamabad In partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY In MANAGEMENT SCIENCES BY Ashfaq Ahmad PhD Scholar FACULTY OF MANAGEMENT SCIENCES 2009 APPROVAL
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Islamic Extremists Nearly everyone has heard about Islam and the Arab world. In addition‚ many countries have already faced issues with the Muslim believers. Islam has caused problems‚ terrorist attacks‚ anti-democracy all over the world. They were also very successful in sending a message of who they truly are. People who are literally obedient to the Islamic faith are called Islamic Extremists. People‚ who are of the Islamic faith however desire to survive in peace without tribulations are not
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INTRODUCTION TO ISLAMIC BANKING The term Islamic banking refers to a banking activity or a system of banking that is in consonance with the basic principles of Islamic Shariah (rules and values set by Islam). Islamic banking is also known as interest free banking system as the Shariah disallows the acceptance of “Riba” or interest rate for the accepting and lending of money. In Islamic banking system‚ a business that offers good interest rates or services is strictly prohibited and it
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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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[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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Traveling broadens the mind "Traveling broadens the mind more than reading." says a very popular Turkish proverb. It is true as long as one embraces experiences with an open mind. Traveling is seeing new countries‚ meeting new people‚ experiencing new things‚ learning a different side of life and more. It is in short the adventurous outdoor class trip to different cultures‚ different languages‚ different political climates and different histories. As the saying goes‚ “The wise man’s home is
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and Transoxania is a case in point. It was a very tedious Islamic takeover that gradually won over the acceptance of the inhabitants in Persia at the time. However‚ this process of assimilation was not new in the area as many Iranians had previous traditions to which they had adapted during pre-Islamic times of the Achaemenids‚ Parthians and Sassanians. These two customs‚ then‚ were merged together to form what we now call the Iranian Islamic identity. This merger transformed much of the cultural
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3. Define the term civilization. Discuss and evaluate the different approaches of your textbook and the lectures to this issue. Support your discussion with specific examples from the early histories of Mesopotamia‚ Egypt‚ and China. • Civilization: Civilization is the state of condition of persons living and functioning
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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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