ISLAMIC FI A CE WITHI TRADI G FRAMEWORK: THE WAY TO LEGITIMATE PROFIT Mirza Vejzagic∗ ABSTRACT In an Islamic financial system‚ leading regulations are derived from the Quran and Sunnah. The Shariah embraces the Quranic philosophy in three magnitudes‚ explicitly Aqidah (faith and believe)‚ Akhlak (ethics and morality) and Muamalat (transactions). The latest one‚ Islamic law of transactions (fiqh muamalat) has become inevitable in contemporary Islamic finance. The main rationale could be
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bank is based on the Islamic faith and must stay within the limits of Islamic Law or the Shariah in all of its actions and deeds. The original meaning of the Arabic word Shariah is ’the way to the source of life’ and is now used to refer to legal system in keeping with the code of behaviour called for by the Holly Qur’an (Koran). Amongst the governing principles of an Islamic bank are : * The absence of interest-based (riba) transactions; * The avoidance of economic activities involving oppression
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the economy both at the macro level and micro level. At the macro level‚ alarming degrees of NPAs have a detrimental effect on the macro economy. A high level of NPAs or loss could cause significant banking crisis or banking distress. This causes a serious liquidity and credit risk on the banking system‚ which unless managed effectively would jeopardize the same. Loan Defaults Loan default occurs when a debtor has not made a scheduled payment‚ or has violated a loan condition of the debt contract
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Individuals to Adopt Mobile Banking FACTORS AFFECTING INDIVIDUALS TO ADOPT MOBILE BANKING: EMPIRICAL EVIDENCE FROM THE UTAUT MODEL Chian-Son Yu Department of Information Technology and Management Shih Chien University # 70‚ DaZhi Street‚ Taipei‚ Taiwan csyu@mail.usc.edu.tw ABSTRACT Fast advances in the wireless technology and the intensive penetration of cell phones have motivated banks to spend large budget on building mobile banking systems‚ but the adoption rate of mobile banking is still underused than
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Green Banking Strategy: An Innovative Model for Sustainable Financial Inclusion in Emerging Markets Dr. Broto R. Bhardwaj‚ Dean‚ Research and Ms. Aarushi Malhotra‚ PH.D Scholar‚ Bharati Vidyapeeth University‚ Institute of Management and Research‚ New Delhi Abstract "Green Banking"‚ an effort by the banks to make the industries grow green and in the process restores the natural environment. This concept of "Green Banking" will be mutually beneficial to the banks‚ industries and the economy by enhancing
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INTRODUCTION Central Banking is one of the most useful institutions which human ingenuity has developed to help the society in managing its collective financial affairs. Every country‚ these days has a Central Bank which controls its entire banking system. Few countries had a Central Bank in the 19th century‚ but the popularity of the Central Bank has greatly increased in the 20th century. Today‚ there is hardly any country in the world which does not have a Central Bank of its own. After the
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CATHOLIC INSTITUTE OF BUSINESS AND TECHNOLOGY A RESEARCH PROPOSAL TOPIC: THE ANALYSIS OF OFFSHORE BANKING AND ITS EFFECT ON TAXATION NAME: INDEX NO#: CIBT/BAMS/09/ DATE: 2ND NOVEMBER 2012 INTRODUCTION Offshore banks are banks wherein a majority of their depositors are located in a jurisdiction outside their own country. Unlike is the modern perception these banks are not only located in the smaller tax havens‚ but some of the bigger countries like the United States and Hong Kong also
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CORE Banking CORE or CORE Banking is a very important terminology used in Indian banking industry. The term CORE is used in two perspectives in Indian banking industry. 1) First Perspective of Core Banking In the first perspective CORE stands for Centralized Online Real-time Environment (CORE). It is a system of centralized banking under which all banks use a centralized data-centre for all their banking transactions. It can be said that all banks under this system share all information
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[pic] Faculty of Business & Law International Banking Module Code：UGB 322 |Module Leader: Tim Zhou |Student Name: Sun Yufei | |Workshop Tutor: Charlton‚ Helen |Student Number: 119026298 | |Data: 3rd May 2012 | | 1. Introduction
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BRANCHLESS BANKING IN PAKISTAN Submitted To Sir Fida Hussain Bukhari Submitted By Syed Qasim Raza Roll No Mi08Bbba011 Hailey College of Banking & Finance Punjab University ACKNOWLEDGEMENT Words will never be able to express enough my fervent gratitude to almighty Allah‚ the most compassionate and merciful‚ for giving me the courage and fortitude to accomplish this gargantuan task. We are the Holy Prophet’s (PBUH) Ummah and we acknowledge that the Holy Prophet’s (PBUH) moral and
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