PFS 2253 ISLAMIC FINANCE Prohibition of Riba Prepared by: Nuradli Ridzuan Shah & Abdullaah Jalil Stages of Revelation • First stage: al-Rum‚ 39 • Second stage: al-Nisa’‚ 161 • Third stage: Ali cImran‚ 130 • Fourth stage: al-Baqarah‚ 275-281 Al-Riba: Its Definition • Riba: – Deferment in the time of exchange (riba al-nasiah) – Quantity of one of the counter values (riba al-fadhl) al-Riba Time Factor Ribawi items Quantity Factor Al-Riba: Its Definition • Nabil Salih’s: “An
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Prohibition of Riba’ Generally Riba’ means that prohibition on any interest. In Islamic Finance system‚ investors and lenders are strictly disallowed to charge or receive interest. In the Shari’ah‚ “riba” technically refers to the premium that must be paid by the borrower to the lender along with the principal amount as a condition for the loan or for an extension in its maturity. According to Chapra (2006)‚ term of riba is used in the Shari‘ah in two senses. The first is riba al-nasi’ah and
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Riba’ The word "Riba" means excess‚ increase or addition‚ which correctly interpreted according to Shariah terminology‚ implies any excess compensation without due consideration (consideration does not include time value of money). Types of Riba: 1. Riba’ AnNisi’ah: This is the stipulated interest which the lender takes from the borrower in consideration of the time given to the borrower to pay back the capital. It is HARAM based on the Quran and the Sunnah and the consensus of Muslim scholars
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Table of Contents INTRODUCTION TO THE RIBA PLAN OF WORK 1 CASE STUDY 2 INCEPTION 3 Brief 3 FEASIBILITY STUDY 3 OUTLINE PROPOSALS 4 SCHEME DESIGN 5 DETAIL DESIGN 6 BILL OF QUANTITIES 6 TENDER ACTION 7 Open tendering 7 Selected tendering 7 Serial tendering 7 Nominated tendering 7 PROJECT PLANNING 8 OPERATIONS ON SITE 9 COMPLETION 9 FEEDBACK 9 CONCLUSION 10 REFERENCE 11 Table of Figures Figure 1: Substructure and Superstructure 4 Figure 3 : DEtailed Cost
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Concept Design is the second stage of the RIBA plan. The core objectives task requires arranging the concept design involving defining proposals for structural design‚ building services systems‚ outlining specifications and preliminary cost information along with the correct project strategies following the design programme. Match the changes to the brief and supply the final project brief. A design concept is the idea behind a design and how you can plan on solving a design problem. Cost information
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Architects (RIBA) Plan of Work Stages The RIBA Plan of Work describes the activities from appraising the client’s requirements through to post construction. The stages are also used in the appointment of architects and help to identify consultant services and indicate the resource and fee total by Work Stage. The information below is in accordance with CABE principles (Creating Excellent Buildings: A guide for clients‚ 2003‚ CABE and Being involved in School Design‚ 2004‚ CABE)) and the RIBA Plan
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television commercial‚ radio advertisement‚ outdoor advertising or direct mail; or new media such as websites and text messagesModern advertising developed with the rise of mass production in the late 19th and early 20th centuries. Type Demerits1 Demerits of Advertising (Objections) Various objections against it may be listed as follows: 1. Economic Objections a) Advertising is not productive. It is true that it does not produce any tangible goods. It is said to involve wasteful expenditure
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Demerits of Democracy More emphasis on quantity than on quality: Majority party holds the reins of government. Inefficient & corrupt‚ who have neither intelligence nor vision‚ get themselves elected. Rule of the incompetent Democracies are run amateurs. In it‚ every citizen is allowed to take part‚ whereas everybody is not fit for it. Locke calls it the act of running administration by the ignorant. He says that history records the fact that a few are intelligent. Universal adult
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Characteristics that describe who a Public Officer is. Public administration is the study of government policies. Public administration seeks the public good. It does that by ensuring a well-run‚ fair‚ and effective public service Public administration is carried out by public servants who work in public departments and agencies‚ at all levels of government‚ and perform a wide range of tasks Public administrators serve in many roles: ranging from "front-line" positions serving the public e.g
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Demerit point system Demerit points are added to your driver’s licence‚ if you are convicted of breaking certain driving laws. The rules are different depending on if you are a new driver or have a full licence. You don’t lose demerit points on your driving record. You start with zero points and gain points for being convicted of breaking certain traffic laws. They stay on your driving record for 2 years from the date you received the offence. For G1 and G2 level drivers‚ the licence is suspended
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