TAKAFUL Takaful is a co-operative system of reimbursement in case of loss‚ paid to people and companies concerned about hazards‚ compensated out of a fund to which they agree to donate small regular contributions managed on behalf by a Takaful Operator. It is defined as an Islamic insurance concept which is grounded in Islamic muamalat (Islamic banking)‚ observing the rules and regulations of Islamic law. This concept has been practised in various forms since 622 CE. Muslim jurists acknowledge
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profit‚ rather than by the state.) Encouraged joint-stock venture Banking system formed Nations adopt philosophy of mercantilism (belief in the benefits of profitable trading) Banking families in Europe: Theologians began to distinguish between usury (immoral interest rates) and legitimate Amsterdam became center of banking‚ Bank of Amsterdam Sight Drafts are issued: A draft or bill payable on demand Price Revolution: Inflation (steady rise in prices)‚ 2% per year Increase in pop.=increase
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[pic] The Farewell Pilgrimage (Hujjat al-wada’) was the last and only Hajj pilgrimage in which Holy Prophet (Peace Be Upon Him) participated in. When peace and order had been restored throughout the Muslim realm and the period of warfare was over and the people joined Islam in multitude‚ till in the course of some two years‚ there was one and but one religion - Islam - throughout the vast Arabian peninsula with a few Jewish and Christian exceptions here and there. The cry of Allah-u-Akbar
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Ascent of Money; The Financial History of the World Samuel Dada Survey of Fiscal Management Cameron University‚ Summer 2013 Abstract The author‚ Niall Ferguson offers a comprehensive collection of anecdotes and observations about the development of finance. He begins with a brief discussion of pre-money societies. Then‚ he carries you through the birth of banking in Renaissance Italy‚ the 18th-century Mississippi and South Sea bubbles‚ the role of
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Islamic Contract Law TYPES OF COMMITMENTS 1. Wa‘d – • • • – وunilateral promise One party binds itself to perform a function for another Does not normally create legal obligation Legal obligation is created: • • Genuine need of the masses – (ر Contingent promise ا س )رد ا ز ن ز ا إذ ا 2. Muwaa‘ada – ا ة • • • • – bilateral promise Two parties performing two unilateral promises on the same subject Use of two unilateral promises can lead to a forward contract
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L I T CHA R T S TM GET LIT TM The Merchant of Venice Author Bio Historical and Literary Context When Written: 1596–8 Where Written: England When Published: 1623 Literary Period: The Renaissance Related Literary Works: Though some describe The Merchant of Venice as a comedy because it ends with the marriage of its heroes Portia and Bassanio‚ it can also be described as a kind of “revenge tragedy.” Typically‚ a revenge tragedy revolves around the quest of its central character to avenge a wrong
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A STUDY ON THE DETERMINANT FOR FAMILY TAKAFUL CONSUMPTION ABDIQANI JAMA ABDULLAHI S815496 MASTER OF ISLAMIC FINANCE AND BANKING FACULTY OF BUSINESS MANAGEMENT UNIVERSITY UTARA MALAYSIA KEDAH‚ SINTOK Full the Project DECLARATION OF ORIGINAL WORK MASTER OF ISLAMIC FINANCE AND BANKING FACULTY OF BUSINESS MANAGEMENT UNIVERSITIY UTARA MALAYSIA CAMPUS SINTOK I am Abdiqani Jama Abdullahi My number: 0147435711 Hereby declares that: This work has not previously been accepted in substance
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anything they promise? 3. Racist Many Filipinos complain of being racially profiled (Filipinas in Middle East are easy to get or gullible) but some of us look down on other people such as Indians as fellows with strange body odor who live off through usury. Or on Chinese neighbors who own bigger stores in the market as penny-pinchers. But we can’t look at ourselves and fix our flaws. Worse‚ see #6. 4. Too self-conscious Wants to know who are his or her stalkers at social media. Installs ‘who are my
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1. How does Antonio feel as the scene opens? What explanations to Salerio and Solanio offer to account for his mood? How does Antonio respond? Antonio feels very depress in the opening scene. The explanation that Salerio and Solanio offer for Antonio’s mood is that he is only worried about his ship returning safety to the port. Antonio responds to them by denying that he is worried about his ships‚ they then accuse him of being in love which Antonio denies their accusations. 2. What insight
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Islamic Finance is a financial system that doesn’t work like other conventional banking systems. It follows the Islamic law‚ Shariah‚ which doesn’t allow certain aspects of a normal banking system such as usury and speculation. There are some main principles to be followed in Islamic banking. First of all‚ it prohibits interest‚ or Riba. Riba is forbidden in Islam‚ and therefore Islamic banking system adopts the principle of profit and loss sharing. It also prohibits uncertainty‚ gambling‚ and prohibits
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