“Interest Free Banking” is a fundamental concept derived from the Islamic form of banking. It operates with the primitive professional and ethical standards that exclude the “Muslims” from paying or receiving any kind of interest. This certainly does not mean that the revenue generating activities or money raving businesses are not encouraged. All of these business forms are greatly appreciated as far as they do not involve interest in any kind. There are a lot of financial tools introduced by the
Premium Bank Debt Islam
I. Introduction Homo economicus‚ the Economic Man‚ represents a rational human being formalized in certain social science models‚ especially in economics‚ who acts in self-interest to achieve in a goal-oriented manner. As John Kay puts it‚ "He is self interested‚ materialistic‚ and obsessed with calculating his worth." In the world of economics textbooks‚ "... he is the mainstay of economic life." The edifice of modern economics is built on the foundation of Homo economicus‚ where the behavior
Premium Sharia Economics Islam
Interest Free Banking - Its advantages and disadvantages; and recommendations. Interest free banking is something outrageous‚ if viewed at first instance. Why? Because the very term of interest free banking signifies its true nature and function – banking that dispenses with any usury or interest‚ leaving the debtor at ease and the creditor with no flow of wealth. Zero. None. Free. Nil. No interest whatsoever. The normal workingmen may see this as promising. However‚ is it an absolute white area
Premium Debt Bank Finance
Subject: Chief employee bonus: Conflict Interest. To: Ethics for Accountant From: Kyungwon Kwak Date: 03/07/2011 1. Ethics Case-Chief employee bonus The WGN Company has a bonus arrangement‚ which grants the financial vice president and other executives a $15‚000 bonus if the net income exceeds the previous year’s by $1‚000‚000. Noting that the current financial statements report an increase of $950‚000 in the net income‚ Vice President Jack Brickhouse asks Louise Boudreau‚ the controller
Premium Ethics Business ethics Shareholder
Role of Interest Groups One of the most important ways people in the United States make their views‚ ideas‚ and demands known to elected officials is through interest groups. No matter how specialized some interest groups can be‚ people can almost always find an interest group that fits them in how they want to influence public policy. In contrast to other systems‚ elections of the U.S. president and Congress are politically separate events‚ even when held at the same time. Each legislator has to
Premium United States President of the United States
Modern Interests in Schools Modern technology has become a wide topic of debate among many people including‚ college professors and teachers‚ concerned parents‚ and old-fashioned elders. Over the past 30 years‚ technology has progressed into a part of a person’s every day social and business life. With a sky-rocketing progression in new technology‚ come many concerns about the effects technology has on current society. Authors Amy Goldwasser‚ a freelance editor for famous magazines Vogue‚ Seventeen
Premium High school Anti-intellectualism Education
Understanding Interest Rates 4.1 Measuring Interest Rates 1) The concept of ________ is based on the common-sense notion that a dollar paid to you in the future is less valuable to you than a dollar today. A) present value B) future value C) interest D) deflation Answer: A 2) The present value of an expected future payment ________ as the interest rate increases. A) falls B) rises C) is constant D) is unaffected Answer: A 3) An increase in the time to the promised future
Premium Bond
healthy working relationship they used to have. Next‚ she attempted to appeal based on her rights: by using discrimination or the fact that other employees were not punished in the same way that she was for what she perceived to be similar behavior‚ she threatened to bring forth a suit for discrimination. Finally‚ she looked to make it about her interests‚ as she stated she was having family problems and started crying. When demands and threats were not met‚ she tried to use her emotions to win Joe
Premium Emotion Rational emotive behavior therapy Psychology
money‚ it is very common to hear words such as interest‚ usury‚ risks‚ etc. We mention these words very often and many times we do not even know what they mean. But this is not it; it gets more interesting when we start linking all this stuff with other topics such as religion‚ ethics and moral values. Going back to the beginning‚ when we start talking about banks and money‚ it is known by everybody that banks’ main business are the loans and the interests they ask for them‚ which many people do not
Premium Loan Debt Interest
What is an “interest group”? Interest Group is any organized groups of individuals sharing common objectives who actively attempt to influence policy makers any way possible to enact legislation that is favorable for the group. Interest groups first started because no one has time for everything‚ and for more complex issues wants‚ people formed interest groups to see that the issues are solved. The two different types of interest group that was created are: institutional and membership. Institutional
Premium