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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My opinion about Islamic finance is when all the transaction not only in banking but in business too‚ that occur must be in accordance with the law of Al-Quran‚ Hadith and Al-Sunnah. It also related with halal and non-halal transaction. In general‚ Islamic finance is defined as a banking system which uses the Syariah as a rule. This means that all operations of the Islamic bank transaction involving either deposit or financing‚ must be based on Syariah principle. These laws forbid to giving and receiving
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Number 1 The Evolution Of Islamic Finance In Southeast Asia: The Case Of Malaysia (1) Rika Nakagawa‚ Institute of Developing Economies‚ Japan ABSTRACT The purpose of this paper is threefold: to explain why the Islamic financial system was introduced in Malaysia; to outline how the Malaysian government has promoted this system; and to analyze the development of the Islamic financial system with a specific focus on the banking sector. In Malaysia‚ the first Islamic bank‚ Bank Islam Malaysia
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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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ISLAMIC FINANCE MID-TERM Usama Bin Asif ISLAMIC FINANCE MID-TERM By Jebran khan 1. Economical system 2. 4 Problems of economical system 3. Principles of Socialism a. Errors in Socialism 4. Principles of Capitalism a. Errors in Capitalism 5. Islamic instructions regarding economics 6. Initiative person and secondary person 7. Profit motive a. Restrictions from Gods side b. Governmental restrictions b.i. Condition of governmental
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International Research Journal of Finance and Economics ISSN 1450-2887 Issue 28 (2009) © EuroJournals Publishing‚ Inc. 2009 http://www.eurojournals.com/finance.htm Financial Management of Construction Contracts (Constructability and its Relation with TQM‚ Cost Shifting Risk and Cost/Benefit) Tauqir Haider Tauqir Haider is a qualified Professional Accountant‚ Visiting Faculty member in leading Universities of Pakistan for Finance subjects and having a wide experience on construction contracts
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THE DIFFERENCES BETWEEN CONVENTIONAL AND ISLAMIC ACCOUNTING ABSTRACT The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of many people as synonymous. There is danger for such kind of perception because the basic building blocks for respective accounting are worlds apart. As for professional accountants who have been taught on the idea for accounting
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1 Muslim Bank enters into Modaraba transaction with five Modarib‚ workout the transactions on prescribe format on the following terms: ➢ Ali Associates Rs.800‚000 cost@10%‚ Profit 40:60 proceeds Rs.810‚000 ➢ Scan Group Rs.700‚000 cost@7% Profit 35:65 Expected Proceeds 812‚000 ➢ Golden Spot Rs.600‚000 cost @8% profit 55:45 Proceeds Rs.770‚000 ➢ Karachi Electric Rs.400‚000 cost @9% profit 50:50 Proceeds Rs.578‚000 ➢ Sailor Services Rs.100‚000 @5% Profit 60:40 Proceed 55‚000. 2 Muslim
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Differences between Islamic and Conventional Financial Planning Financial planning is the process of creating strategies in managing financial affairs to meet life goals and the role of the professional financial planner is to analyse the financial circumstances of the client and to provide a plan to meet the client’s financial needs and goals. In carrying out his mission‚ the financial planner shall provide impartial assistance and act in the best interest of the client. For the Islamic financial
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THE DIFFERENCES BETWEEN CONVENTIONAL AND ISLAMIC ACCOUNTING ABSTRACT The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of many people as synonymous. There is danger for such kind of perception because the basic building blocks for respective accounting are worlds apart. As for professional accountants who have been taught on the idea for accounting
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