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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Towards Developing A Successful Islamic Financial System: A Lesson from Malaysia ABSTRACT The Islamic financial system in Malaysia has achieved phenomenal growth since its humble beginning in 1963 with the establishment of Pilgrimage Fund or ‘Tabung Haji’. Central Bank of Malaysia reported an average annual growth rate of 18% in the last two decades. Malaysia has been regarded as the role model amongst Organization of Islamic Countries (OIC)‚ in implementing Islamic financial system and has a strong
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George Benson performed at the Java Jazz Festival with his orchestra behind him supporting his every note. This performance was in tribute to Nat King Cole. George Benson showed out while performing on the stage in front of hundreds of people with both upbeat songs and calming songs. The overall performance was highly interesting with the combination of different jazz songs and the different rhythms and meanings. Their stage presence was very professional‚ but they also had fun with their performance
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Islamic Contract Law TYPES OF COMMITMENTS 1. Wa‘d – • • • – وunilateral promise One party binds itself to perform a function for another Does not normally create legal obligation Legal obligation is created: • • Genuine need of the masses – (ر Contingent promise ا س )رد ا ز ن ز ا إذ ا 2. Muwaa‘ada – ا ة • • • • – bilateral promise Two parties performing two unilateral promises on the same subject Use of two unilateral promises can lead to a forward contract
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Islamic views on evolution are diverse‚ ranging from theistic evolution to creationism. Muslims believe in a God as the Creator‚ as explained in the Qur’an. Throughout history some Muslim thinkers have proposed and accepted elements of the theory of evolution‚ while believing in the supremacy of God in the process. In modern times‚ some Muslims have rejected evolution‚ and teaching it is banned in some countries. The main problem with evolution for this particular group is that the Adamic descent of
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Islamic Teachings on Euthanasia; According to Islamic teachings‚ indirect and passive euthanasia are not considered ‘mercy killing’ and are therefore permitted. Indirect euthanasia is the heightened administration of a strong medication to relieve severe pain‚ despite it being known that the medication may end the patient’s life or shorten it. Indirect euthanasia is permissible under Islamic teachings as the intention of the medication was to reduce or stop pain with a known risk of hurried death
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Apa itu Ekonomi Islam? Professor Muhammad Anas Al -Zarqa 6 Ramadhan 1428 18 September 2007 Q.1. Apa itu Ekonomi? Ans.1. It is the social science that studies the production‚ distribution and consumption of goods and services. Ans.1. Ini adalah ilmu sosial yang mempelajari produksi‚ distribusi dan konsumsi barang dan jasa. Q.2 What is an Economic System? Q.2 Apakah yang dimaksud dengan Sistem Ekonomi? Ans.2. It is the set of goals rules and institutions that society prefers
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DERIVATIVES IN ISLAMIC FINANCE ANDREAS A. JOBST (forthcoming in Islamic Economic Studies‚ Vol. 15‚ No. 1) Paper presented at the International Conference on Islamic Capital Markets held in Jakarta‚ Indonesia during August 27-29‚ 2007 jointly organized by Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB)‚ Jeddah‚ Saudi Arabia‚ and Muamalat Institute‚ Jakarta‚ Indonesia. DERIVATIVES IN ISLAMIC FINANCE ANDREAS A. JOBST# ABSTRACT Despite their importance for financial
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of financial services‚ the fastest growing segment is Islamic Banking - particularly because it seeks to address needs of an underserved affinity group. Individuals and business in +40 countries with Muslim-majority population and another + 15 countries with Muslim-minority communities share a common value system. IslamiQ.com reports that as of June 2001‚ the global Islamic Banking sector manages USD$200 Billion in ways that conform to Islamic principles (called the Shariah) with a growth rate of
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LIBERTY UNIVERSITY ISLAMIC WORLDVIEW ANALYSIS A PAPER SUBMITTED TO JEFFREY ROBINSON IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE COURSE APOL 500 LIBERTY THEOLOGICAL SEMINARY BY JUSTIN HARTPENCE LYNCHBURG‚ VIRGINIA FRIDAY‚ FEBRUARY 24‚ 2012 Table of Contents Introduction .............................................................................................................................. 3 Islamic Worldview ..................................
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