Iowa University June 2006 [Draft; Feedback welcome] [pic]The Readers are highly encouraged to read another of my essays "Islamic Law and the Use and Abuse of Hadith" before this one to better follow and appreciate this essay. NOTE for fellow Muslims: Because this topic involves what is haram (prohibited) and halal (permissible) in Islam‚ every Muslim MUST do his/her own due diligence and conscientiously reach own position/decision in regard
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PROSPECTS OF ISLAMIC BANKING: Legal and other Challenges and Issues Faisal Nasim LLM (Commercial Law) Table of Contents Acknowledgment…………………………………………………………….... 1 Preface ………………………………………………………………………..... 2 Glossary of Arabic Terms …………………………………………………......4 Chapter 1: ……………………………………………………………………....5 Introduction and the Basis of Islamic Banking Chapter 2: ………………………………………………………………..……..9 Islamic Modes of Financing Chapter 3: ………………………………………………………….………….21 Practical Application of the Islamic Modes
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several sub-sects each • • • • Islamic Populations • With 1.6 Billion people‚ Islam is the worlds 2nd largest religion • Sizeable minorities in almost every country around the world History of Islam • Islam founded by Prophet Muhammad in 610 C.E. • Rapid growth through the Umayyad Caliphate 750 C.E. Islamic Schism With Muhammad’s death in 632 C.E. a dispute between his followers occurred. Most followed his Father in Law (Abu Bakr) and became what is now known as Sunni. The remainder
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Islamic Fashion Objective Objective Islamic Fashion is actually covers wider scope. Each continent have different perspective on Islamic Fashion - culture influence Fashion always reflects women Muslimah Fashion Introduction v It is important to distinguish between what Muslims wear and what has come to be defined in the literature and the market place as "Islamic fashion." v What counts as Islamic or not is a matter of considerable debate amongst Muslims. v Whilst many consider
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BASIS OF INCOME RECOGNITION FROM ISLAMIC PERSPECTIVE Yosita Nur Wirdayanti ABSTRACT This paper addresses the issue of basis of income recognition from Islamic perspective. In Islamic banks‚ income recognition is very important since it will determine amount of profit that will be distributed to depositors. Begin with accounting principles from Islamic perspective‚ this paper discusses the concept of accrual and cash basis and scholar opinion about this basis of accounting. Both accrual and cash
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Definition of neighbor from the Islamic perspective Neighbor is translated as “al Jar” in Arabic terminology. It is derived from the word “jawara” which is a verb. Literally‚ “al-jar” has been defined as “al-musakanah” which means living‚ residing‚ lodging‚ dwelling or inhabiting side by side. Indirectly‚ it also refers to believers and unbelievers‚ religious and irreligious‚ friends and enemies‚ foreigners and fellow countrymen‚ those who treat you well and those who would do you harm relatives
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Over the course of history‚ there have been many religious conflicts and wars‚ specifically the era of Islamic Spain (711-1492). Islamic Spain was a multi-cultural mix between the three great religions at that time‚ which consisted of Muslims‚ Christians‚ and Jews. For over 700 years‚ the era in which Islamic rulers governed was broken into five different successions which consisted of the Dependant Emirate (711-756)‚ the Independent Emirate (756-929)‚ the Caliphate (929-1031)‚ the Almoravid Era
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While some historians argue than Islamic science is simply an extension of Greco-Roman science‚ the scientific advancements made by medieval Arabs were unique compared to their Greco-Roman ancestors and quite substantial compared to their European counterparts. The idea that Islamic science is simply a continuation of Greco-Roman science may come from the extensive translation efforts made from Islamic ruler Abbasid caliph al-Mamum in the ninth century. It is important to note that while a greater
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for a Jewish synagogue‚ Christian church‚ and Islamic mosque‚ is that they are all places of worship for a monotheistic religion. When delving into the deeper meaning‚ some people consider Christianity and Islam to not be true monotheistic religions‚ in essence the three places of worship all share extremely important key aspects in common. Synagogues‚ churches and mosques all have different variations. There are many braches and traditions of Islamic mosques‚ Christian churches‚ and Jewish synagogues
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decision. The second reason for the importance of education is that only through the attainment of education‚ man is enabled to receive information from the external world. It is well said that "Without education‚ man is as though in a closed room and with education he finds himself in a room with all its windows open towards outside world." The reflective book of Holy Quran is so rich in content and meaning that if the history of human thought continues forever‚ this book is not likely to be read
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