ISB 547 (Islamic Banking & Financial Services) Islamic Acceptance Bills Introduction Islamic Acceptance Bill is one of the Islamic financial instruments that are traded in Islamic Inter-bank Money Market. Islamic Acceptance Bills are traded based on Murabahah and Bay’ al Dayn concept similar to the other financial instruments such as Islamic mortgage bond and Islamic private debt securities. The Inter-bank Money Market‚ in turn‚ is the place where a set of activities
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Floating Exchange Rate Era)………………………….4 VI – Current Financial Crisis…………………………………………………………………………….6 VII – IMF Response to Current Financial Crisis…………………………………………………..11 VIII – Conclusion: Role of IMF in Future…………………………………………………………….13 IX – References……………………………………………………………………………………………….15 I – INTRODUCTION 2 This essay will critically describe and discuss the role of International Monetary Fund in the current financial crisis and also the role it will play in shaping the Global Political
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understand that it affects you in your daily life; you have to live with it. This is what happens to people of Islamic heritage and belief. The western media in specific has made most Americans think of all Muslims being satanic‚ hellish and insidious people – this is not true. In this paper‚ it will discuss what the western media says about Muslims‚ what it is actually like in areas of heavy Islamic belief/heritage and then analyze this information. The western media says many horrific things about Muslims
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Muslims believe the Qur’an to be the direct words of Allah‚ as revealed to and transmitted by the prophet (S.A.W). All sources of Islamic law must be essential agreement with the Quran‚ the most fundamental source of Islamic knowledge. When the Qur’an itself does not speak directly or in detail about certain subject‚ Muslims only then turn to alternative sources of Islamic law like ; the Sunnah‚ Ijma and Qiyas used by Muslims legal experts. Purpose of the Qur’an: "Had we sent down this Qur’an on a
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I ISLAMIC STUDIES ASSGIGNMENT Submitted BY:- Hassan Munir 110468 M.Suleman Hamza Anwar M.Hamza Mughal TOPIC:- Marriage in the light of QURAN and SUNAH Table of Content:- * Spouses * Whom to Marry * Mahr * Nikkah * Walima SPOUSES:- In Islam it is clear that marriage is the optimum lifestyle. “And among His signs is this‚ that He created for you wives from among yourselves‚ that you may find repose in them‚ and He has put between you affection and mercy. Verily
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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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----------------------- A PRIMA - FACIE CASE FOR ISLAMIC ACCOUNTING • Purpose Accounting : To permit informed decision which will enable scare resources to be allocated efficient to achieved ‘social welfare’. |Islamic |Conversational | |To achieve socio – |To meet needs of | |economic & religions|‘capitalist’ | |objective of Islamic|economy. | |Institution & | | |Muslims Users. | | |Provide holistic
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Defining Islamic Law Islamic law is the collection of rulings and legally binding rules related to the regulation of individual behavior in society. It is a legal system with a broad range of directives‚ covering the specifics of various affairs‚ yet broad enough to be flexible and non–rigid due to its capacity for renewability and adaptability. The History of Islamic Law Role #1: This was the role of education and dealing with legal life issues in Arab society during the mission of the Prophet;
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been a part of business. The article of Islamic Business Ethics & Finance: An Exploratory Study of Islamic Banks in Malaysia written by Muhammad Adli Musa studied about how Islamic finance which claims to offer global financial stability and high ethical standards should reflect Islamic values in all facets of behaviour to bring about collective morality and spirituality‚ which when integrated with the production of goods and services advance the Islamic way of life. This paper also attempts to
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Art‚ in its simplest definition‚ is the creation of images or objects. Islamic art has throughout history been mainly abstract and floral‚ portraying geometric shapes or Arabesque and calligraphic designs because of the strict injunctions against the depiction of living things. Islamic Art as a whole is comprised of visual arts produced 7th century onwards. This term not only describes art made in the service of Islam or by Muslim artists‚ but also secular art originating from those lands which
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