1.0 Evolution of Accounting Reporting in Malaysia In 1958‚ MICPA formed under the Companies Ordinances 1940-1946 as a professional body. In 1965 there was established the Company Act. So in 1967‚ Accountants Act‚ an Act to provide for the registration of accountants and matters connected to it. “Malaysian Institute of Accountants” established. Early 1970’s‚ International Accounting Standard establish for Bursa Malaysia and Companies Registrar. In 1990’s Securities Commission (SC) did the framework
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After reading and thoroughly analyzing both sides of the Taking Sides Issue‚ “Does the Modern University have Islamic Roots in the Islamic World?” I agree with the professor of history and philosophy of education Medhi Nakosteen; he touches the roots of the modern university to the Golden Age of Islamic Culture (750-1150 C.E). Medhi also states that Muslim scholars adapted the best of traditional scholarship and established both the experimental method and the university system‚ which they handed
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Despite of most of the Islamic jurists agreed upon the permissibility of Musharakah Mutanaqisah‚ there are some scholars who hold different opinions. The majority of scholars believes that it is permissible and shariah compliant. As stated in the Qur‟an: “If the man or woman whose inheritance is in question‚ has left neither ascendants nor descendants‚ but has left a brother or a sister‚ Each one of the two gets a sixth; but if more than two‚ they share in a third; after payment of legacies and debts;
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Shingo Yamane Religion and Terrorists I didn ’t know the word “terrorist” until September 11th in 2001. That day is the day when people all over the world couldn ’t believe their eyes. Who had ever seen the moment when two airplanes crashed into the towers? It was the very shocking moment. I just came home from school and turned on TV‚ and then all the channels were filled up with the emergency news of that unexpected incident. Even though I was only nine years old on that time‚ I was old enough
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the Sukuk Market Expected Growth of the Sukuk Market Introduction 1974 beginning of the first Islamic Financial Institution by the creation of the inter-governmental Islamic Development Bank (IDB) 2001 first GCC Sukuk issuance • Bahrain Monetary Agency USD100 Million 2002 World’s first Islamic global bond issue • Federation of Malaysia USD600 Million What is a Sukuk? A Sukuk is an Islamic Bond compliant with Shariah law‚ which pays a return based on tangible assets in lieu of an interest
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The holy month of Safar Safar Month of the year: Safar is the second month of the Islamic calendar. Literal meaning: Empty. During this month the houses used to be empty and deserted because the ban on going to war in the month of Muharram came to an end and everyone proceeded towards the battlefield. Safar also means to be yellow. When the names of the months were being given it was the season of autumn and the leaves of the trees were yellow. This time of the year was considered to be cursed
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Al-Qaeda The Base"‚ "The Foundation" or "The Fundament". Is a global militant Islamist organization founded by Osama bin Laden‚ Abdullah Azzam and several other militants at some point between August 1988 and late 1989‚ with origins traceable to the Soviet war in Afghanistan. It operates as a network comprising both a multinational‚ stateless army and an Islamist‚ extremist‚ wahhabi‚ jihadist group. It has been designated as a terrorist organization by the United Nations Security Council‚ the North
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disclosed it in the notes to the account‚ it still not permissible in Islam. What both banks should do is that is to get rid any business or transaction that yield prohibited earning. This is because as a Shariah compliance bank and the followers of Islamic teaching we need to show to other people especially the non-Muslim that prohibited earning is illegal in Islam. Besides that it will make the customer feel secure in putting their money in the bank. Even there are prohibited earnings‚ the banks should
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Question no. 1 Cause-related marketing: To build some positive images and to show social responsibility‚ many companies linked themselves to these causes to increase in the growth of company. In these days‚ every product seems to be tied with some cause‚ like buy a baby dipper and help orphans. Many NGO’s are also related to these causes and giving funds to raise the cause of companies. Cause-related marketing are now become priority for companies to access the buyers of the product. “Do well
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makes laws. Laws regulate the conduct of the people. Pakistan is an Islamic Republic and will of the people is expressed through their elected representatives who perform the function of law making. Main thing is the welfare of the people and development in all spheres of life in ademocratic manner where rule of law is observed. legislature in pakistan. In Pakistan we have our own Constitution called the Constitution of the Islamic Republic of Pakistan. Principles under consideration while formulating
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