ultra-conservative expression of numerous faiths‚ namely Islam. It should be noted that Islamic fundamentalism is highly religious in nature‚ and a religion based on the salvation of all men. Islamic fundamentalism is for the most part a modern phenomenon‚ it is impossible to grasp without first understanding at least the roots of Islam . Fundamentalist Islam is based primarily on two pillars‚ the first being that Islamic law(shuria or Sharia‚ also known as the Law of Allah) is the only valid system
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Research Report of Money and Banking Issues and Problems in Islamic Banking Abstract:- Three decades have passed since the first Islamic bank began its operations in MitGhamr‚ Egypt‚ and more than a decade has passed since the Islamic Republics ofIran and Pakistan adopted a non-interest-based financial system. Profit Loss Sharing (PLS) dominates the theoretical literature on Islamic finance. Broadly‚ PLS is a contractual arrangement between two or more transacting parties‚ which allows
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ABDULAZIZ UNIVERSITY Islamic Economics Research Centre ISLAMIC FINANCIAL INSTITUTIONS OF INDIA PROGRESS‚ PROBLEMS AND PROSPECTS Mohammad Ghous Ikhtiyaruddin Bagsiraj Scientific Publishing Centre King Abdulaziz University Jeddah‚ Saudi Arabia ISLAMIC FINANCIAL INSTITUTIONS OF INDIA PROGRESS‚ PROBLEMS AND PROSPECTS Mohammad Ghous Ikhtiyaruddin Bagsiraj Scientific Publishing Centre King Abdulaziz University P.O. Box 1540‚ Jeddah 21441 Saudi Arabia FOREWORD The Islamic financial services
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Chapter 1 Introduction 1.1 Background Islamic legal principles regulate the conduct and content of commercial transactions in Islamic Banking. The most important of these principles is the prohibition of riba‚ any predetermined or fixed return in financial transactions. As stated in Quran: “Allah forbids riba and permits trade.” While there is much debate about the exact nature of this prohibition on riba‚ there exists a widespread perception that the ban on riba implies ban on interest
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Farooq Associate Professor of Economics and Finance Upper 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
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Islamic Economics Economics studies are devoted with the economical behavior of individuals and societies‚ for instance production‚ consumption‚ saving‚ good exchange and so on. Every nation is supposed to regulate the production of goods and services as demanded by the people‚ consumers‚ thus any economic system needs to answer four main questions: 1- What to produce of goods and services? 2- How to produce these goods and services? 3- Who to produce to these goods and services
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still many groups of people that perform traditions or ceremonies that their ancestors did. Many of these groups either follow the exact same traditions‚ to an extent of what it was‚ or have come up with a new version of their own‚ but still have the concepts of the original tradition or ceremony. The story‚ The Lottery‚ is an example of people following an old tradition to an extent of what it was when it was first created. It implies many examples of traditions and ceremonies‚ religious beliefs‚ and
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to express our deepest appreciation to Mr Zainal Azhar Bin Zainal Azim who is our lecturer for Islamic Finance on giving us the opportunity to work on the assignment and providing us with lots of support and guidance which has helped us to complete the assignment on time. This assignment has brought us in making lots of research and we came across to acquire new things about Islamic Finance and Islamic banking specifically. Nevertheless‚ we would also like to thank our fellow classmates who
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Islamic Branding – Brands‚ Islam and the New Muslim Consumer inShare WEBWIRE – Monday‚ July 12‚ 2010 Built on a bank of rigorous bespoke research conducted in key Muslim markets by TNS Built on a bank of rigorous bespoke research conducted in key Muslim markets by TNS‚ this study offers detailed branding recommendations on how to forge stronger bonds with the new generation of Muslim consumers‚ through every aspect of branding‚ from business practice and philosophy to visual identity and customer
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Islamic Culture Overcoming Religious illiteracy This Article is one that shares on the topic of how many people are uneducated in Religion weather it be theirs or someone else’s. Moore says “Religious literacy entails the ability to discern and analyze the fundamental intersections of religion and social/political/cultural life through multiple lenses” therefor I agree with her statement there is a lot more to other Religions than meets the eye‚ which many people are not willing to learn which
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