...Taliban movement (Scanlon, 2015). While historically there were a few religious minorities living in the country, most have left and the majority of the inhabitants are Muslims. There are two main Islamic denominations in the country are, the Sunnis and the Shiites. The Taliban government has not only forced religious minorities into exile but also intellectuals (Scanlon, 2015). Classes and castes are relatively common in Afghanistan and there are certain differences in wealth and social status. Religion and ethnicity also play a role in the hierarchy. For instance, most civil servants tend to be Persian-speaking urban population and was even more so the case in the past. Most administrative posts in provinces are held by Pashtuns, who typically do not have a connection to the local population. Social stratification is often express through marriage, as it is common for lower social groups to offer their daughters in marriage to groups higher in status (Scanlon, 2015). Perhaps not surprising, marriage in an important part of the Afghan society, Divorce is very rare and not socially acceptable. Polygamy is less common than it may be assumed by some people in the West and it usually occurs when a man marries the widow of his dead brother due to perceived obligation. The marriage is typically negotiated between the families, and the financial aspects play an important role in it (Scanlon, 2015). Due to its poor economy, Afghanistan is unable to offer formal education too much...
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...COMMITMENT TO THE EMPLOYEE 8 2.2.1 Training and development 8 2.2.2 Performance evaluation 10 2.2.3 Employee motivation 11 2.3 COMMITMENT OF EMPLOYEE TO BANK ISLAM 12 2.3.1 Know the organization’s goals. 13 2.3.2 Practicing Islamic Work Ethics towards organization. 13 2.3.3 Flexible Working Practices 13 2.3.4 Build employee-organizational relationship 14 2.3.5 Involve in decision making. 14 2.3.6 Seek growth and development. 14 2.3.7 Continuously support program organized by Bank Islam 15 2.3.8 Be professional in work 15 2.4 COMMITMENT OF EMPLOYEE TO EMPLOYEE 15 2.4.1. Affective Commitment. 16 2.4.2 Continuance Commitment 17 2.4.3 Normative Commitment 18 3.0 WAYS TO IMPROVE COMMITMENT 20 4.0 CONCLUSION 25 4.0 REFERENCES 27 1.0 INTRODUCTION 1.1 BIMB Background of Company Bank Islam Malaysia Berhad is an Islamic bank based in Malaysia that has been in operation since July 1983. Bank Islam was established primarily to assist the financial needs of the country's Muslim population, and extended its services to the broader population. The bank currently provides Shariah-compliant card services and mobile banking, in addition to traditional banking. Since its inception, it has emerged as the symbol of Islamic banking in Malaysia. Bank Islam has been growing from strength to strength as evidenced by its financial performance and paid-up capital, which, in turn, was instrumental in making the growth of its assets. Throughout the year the Bank...
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...RISK MANAGEMENT IN ISLAMIC BANKING AND FINANCE: THE ARAB FINANCE HOUSE EXAMPLE Bilal A. Fleifel A Thesis Submitted to the University of North Carolina Wilmington in Partial Fulfillment of the Requirements for the Degree of Master of Business Administration Cameron School of Business University of North Carolina Wilmington 2009 Approved By Advisory Committee Howard Rasheed Cetin Ciner William H. Sackley Chair Accepted By DN: cn=Robert D. Roer, o=UNCW, ou=Dean of the Graduate School & Research, email=roer@uncw. edu, c=US Date: 2010.01.21 15:02:51 -05'00' ________________________ Dean, Graduate School TABLE OF CONTENTS TABLE OF CONTENTS ..................................................................................................... ii ABSTRACT........................................................................................................................ vi ACKNOWLEDGMENTS .................................................................................................. vii DEDICATION .................................................................................................................. viii LIST OF TABLES .............................................................................................................. ix LIST OF FIGURES...............................................................................................................x GLOSSARY .............................
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...Welfare Services of Islamic Banks Introduction Welfare is a condition of having good health, comfortable living and pleasant working conditions (Hornby). Hence, it can be said that welfare services are those which ensure conditions of having good health, comfortable living and working conditions, which are generally one's basic needs. Islam views work as the primary means of earning and acquiring income and wealth. As such, a well-known example may be cited here, Recall a beggar who approached the Prophet Muhammad (Pbuh) for alms, he (the beggar) was asked to bring what he had in his house. Accordingly, the man brought a blanket. The Prophet (Pbuh) asked him to sell it out and buy an ax, which could then be used to cut wood from the jungle to sell at the market for income. Thus, instead of begging, he could be self-reliant which is more dignified life than begging. Therefore, in the Islamic way of life, productive and remunerative work (employment and self-employment) and consequently real income becomes the primary source for buying necessities such as food, clothing, shelter, household goods, transportation, fuel and medicines. But if real income is not sufficient to purchase necessities of life, then welfare services become essential in a society to maintain the minimum standard of living of the people. In fact, in every society, there are many people who lack the necessary income and, consequently, face inadequate lifestyles due to unemployment and under-employment. Their...
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...[pic] [pic] Bangladesh is one of the largest Muslim countries of the world. The people of this country are deeply committed to Islamic way of Life as it is mentioned in Quran and Sunnah. But it is not possible for the people to establish and design their economic lives in accordance with Shariah. The very objective of Shariah is to promote the welfare of the people that lies in safeguarding their faith, their life, their posterity and their wealth. In this regard to establish a banking world that run according to Shariah, the concept of Islamic Banking Arise. Its establishment in Bangladesh on 13th March 1983, named Islami Bank Bangladesh Limited (IBBL). The definition of Islamic Bank, as approved by the General Secretariat of the OIC- “An Islamic Bank is a Financial Institution whose statutes, rules and procedures expressly state its commitment to the principles of Islamic Shariah and to the banning of the receipt and payment of interest on any of its operation.” This paper is an attempt to evaluate the Different Modes Investment of Islamic Bank Bangladesh Ltd. (IBBL) in terms of productivity and effectiveness. [pic] There are mainly two objectives behind the preparation of this report such as primary objectives and secondary objectives. These are discussed as under: The initial Objective: The initial objective of preparing this report is to fulfill the partial requirements of the BBA program and to represent the ‘General Banking System’, ‘Investment mechanism’...
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...of the attempts. I am a student of Leading University, Sylhet. In BBA, my major subject is Accounting and Finance. For that consequence, I am performing my internship in banking sector and the organization is the SJIB in this regard. I selected the research topic as “ Overview of Banking Operations in Shahjalal Islamic Bank”. 1.1 Objective of the study: • The difference between Islamic and Conventional banking system • Overview and analysis of SJIBL • Overview of the Islamic Banking industry in Bangladesh • Concept of Islamic Banking 1.2 Source of Information: • Primary source : The primary source of information was gathered from the practical working experience during the internship period. • Secondary information : The secondary information was gathered from Bank’s Annual Reports, Manuals, Guidelines and Internet etc. 1.3 Scope of the study: This project has stipulated its analysis to the Islamic Banking system in Bangladesh only. Mainly SJIBL has been discussed here to understand the Islamic banking system. The study also covered the overall scenario of the Islamic Banking industry in Bangladesh and has also covered the differences between Islamic and Conventional banking system. 1.4 Limitations of the study There are some limitations in my study. I faced some problems during the study which is mentioned below. • Lack of time: The time period of this study is very short. I had only 5 weeks in my...
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...978-1-922069-19-1 Prospects of Islamic Banking in Bangladesh Md. Maruf Ullah and Md. Shahnur Azad Chowdhury In a developing country like Bangladesh, the Islamic banking system as a whole has a vital role play in the process of economic development. The study has been concentrated on “Prospect of Islamic Banking in Bangladesh”. The paper mainly emphasizes on analyzing the performance of Islamic banks and it has also identified some problems & opportunities and provided some suggestions. It has been tried to provide some information about future performance. The study also noted that there is a high demand for interest-free banking services from a segment of people in Bangladesh who have a strong desire to abide by the rules and principals set by Shariah. Along with religious requirement, economic exigencies provide a new outlook to the role of banking in promoting investment productive activities, influencing distribution of income and adding stability to the economy. Moreover, conventional banks offering Islamic banking as a parallel service are to add to their profitability, by attracting people who value the Shariah based system by enjoying the advantages of the special treatments from the Central bank. According to the survey, suitable and supportive legal framework would facilitate better growth of this sector. For a continued expansion of the Islamic Banking system, however, a number of issues that pose serious problems for Islamic banks will need to be carefully addressed...
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...GUIDELINES FOR CONDUCTING ISLAMIC BANKING Section I Introduction to Islamic Banking Islamic Banking has experienced a phenomenal growth and expansion in Bangladesh in the backdrop of strong public demand and support for the system along with its gradually increasing popularity across the world. As a result, a number of full-fledged Islamic Banks has been established, while a good number of conventional banks have come forward to offer services compliant with Islamic Shariah through opening of Islamic branches along with conventional ones. There is also a trend of conversion of conventional banks into Islamic bank. It has, therefore, become necessary to ensure that activities of the fast growing Islamic Banks are carried out properly and uniformly according to the principles of Islamic Shariah. With this end in view, Bangladesh Bank constituted a Focus group comprising representatives of the central Bank, a number of Islamic Banks and the Central Shariah Board for Islamic Banks of Bangladesh to formulate an integrated guideline for conducting banking business of the Islamic Bank/Islamic bank branches of conventional banks. Based on the recommendations of the Focus group this guideline embodying different terminologies used in Islamic Banking operations, definitions of the terminologies, the principles and modes of deposits and investments has been prepared. It also dwelt upon the issues of liquidity, maintenance of books of accounts and preparation of financial statements...
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...an Introduction to Islamic Finance = = = jìÑíá=jìÜ~ãã~Ç=q~èá=rëã~åá `çåíÉåíë= Foreword Some Preliminary Points _ÉäáÉÑ=áå=aáîáåÉ=dìáÇ~åÅÉ= qÜÉ=_~ëáÅ=aáÑÑÉêÉåÅÉ=ÄÉíïÉÉå=`~éáí~äáëí=~åÇ=fëä~ãáÅ= bÅçåçãó= ^ëëÉíJÄ~ÅâÉÇ=cáå~åÅáåÖ= `~éáí~ä=~åÇ=båíêÉéêÉåÉìê= mêÉëÉåí=mê~ÅíáÅÉë=çÑ=fëä~ãáÅ=_~åâë= 6 9 V NM NO NQ NR Musharakah qÜÉ=`çåÅÉéí=çÑ=jìëÜ~ê~â~Ü= qÜÉ=_~ëáÅ=oìäÉë=çÑ=jìëÜ~ê~â~Ü= Distribution of Profit Ratio of Profit Sharing of Loss 17 NV OP 23 24 24 qÜÉ=k~íìêÉ=çÑ=íÜÉ=`~éáí~ä= j~å~ÖÉãÉåí=çÑ=jìëÜ~ê~â~Ü= qÉêãáå~íáçå=çÑ=jìëÜ~ê~â~Ü= Termination of Musharakah without Closing the Business OR OU OU 29 Mudarabah _ìëáåÉëë=çÑ=íÜÉ=jìÇ~ê~Ä~Ü= aáëíêáÄìíáçå=çÑ=íÜÉ=mêçÑáí= qÉêãáå~íáçå=çÑ=jìÇ~ê~Ä~Ü= `çãÄáå~íáçå=çÑ=jìëÜ~ê~â~Ü=~åÇ=jìÇ~ê~Ä~Ü= 31 PO PP PQ PR ÅçåíÉåíë= Musharakah & Mudarabah as Modes of Financing mêçàÉÅí=cáå~åÅáåÖ= Securitization of Musharakah Financing of a Single Transaction Financing of the Working Capital 37 PU 39 42 43 pçãÉ=lÄàÉÅíáçåë=çå=jìëÜ~ê~â~Ü=cáå~åÅáåÖ= Risk of Loss Dishonesty Secrecy of the Business Clients’ Unwillingness to Share Profits House Financing on the Basis of Diminishing Musharakah Diminishing Musharakah for Carrying Business of Services Diminishing Musharakah in Trade RO aáãáåáëÜáåÖ=jìëÜ~ê~â~Ü= 52 54 55 56 RT 59 63 63 Murabahah fåíêçÇìÅíáçå= Some Basic Rules of Sale Bai’ Mu’ajjal (Sale on Deferred Payment Basis) 65 SR 66 70 jìê~Ä~Ü~Ü= pçãÉ=fëëìÉë=fåîçäîÉÇ=áå=jìê~Ä~Ü~Ü= Murabahah...
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...Chapter 1 1.1- Objective of the Term paper The main purpose of report is to focus on the recruitment and selection process that will enhance our skill and broaden our area of knowledge about the interesting world of human resource and management. Recruitment and selection process is such type of task that is based more on projections and creativity and it involves lot of effort to be successful. By making this report we will be able to reach to the in-depth of recruitment that will help to identify our lacking of job analysis and this will be helpful for our future career. This term paper being made as the requirement of the course human resource Management objectives. 1.2- Limitations We are really grateful to our course instructor Ethica Tanjeen as for her that we have got the opportunity to do such analytical task. Through making this term paper; we will be able to gain the practical knowledge. It will help us to improve our communication and analytical skill that will benefit us in future. As we are just studying in BBA so we have some lack of knowledge to do such task efficiently and effectively and there must be some mistakes in this report. But through doing such analytical job we can overcome our lacking. Chapter 2 Theoretical Frame Work 2.1- Recruitment and Selection Recruitment and selection are two of the most important functions of personnel management. Recruitment precedes selection and helps in selecting a right candidate. Recruitment...
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...Al-Qaeda From Wikipedia, the free encyclopedia Jump to: navigation, search al-Qaeda القاعدة Participant in the Persian Gulf War, the Global War on Terrorism, the War in Afghanistan, the Iraq War, and the Syrian Civil War Active 1988-present Ideology Sunni Islamism[1][2] Islamic fundamentalism[3] Takfirism[4] Pan-Islamism Worldwide Caliphate[5][6][7][8][9] Qutbism Wahhabism[10] Salafist Jihadism[11][12] Leaders Abdullah Yusuf Azzam (1988-1989) Osama bin Laden (1989-2011) Ayman al-Zawahiri (2011-present) Area of operations Worldwide (predominantly in the Middle East) Strength In Afghanistan – 50–100[13] In Egypt –Unknown In Iraq – 2,500[14] In the Maghreb – 300–800 In Nigeria –Unknown In Pakistan – 300[15] In Philippines – Unknown In Saudi Arabia – Unknown In Somalia – Unknown In Syria Unknown In Thailand -Unknown In Yemen –500–600[16] Allies Taliban Islamic Movement of Uzbekistan East Turkestan Islamic Movement Al-Shabaab Islamic Courts Union (dis) Jundallah Lashkar-e-Taiba Jaish-e-Mohammed Jemaah Islamiyah Boko Haram Abu Sayyaf Iraqi insurgents Caucasus Emirate FARC[17][18] Syria (alleged)[19][20] Qatar (alleged)[21] Opponents United States of America Israel International Security Assistance Force Syria Iran Afghanistan Pakistan Turkey Yemen Egypt Algeria Colombia Al-Qaeda...
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...Meezan Bank’s Guide to Islamic Banking Meezan Bank’s Guide to Islamic Banking 1 Meezan Bank’s Guide to Islamic Banking Meezan Bank’s Guide to Islamic Banking Written by Dr. Muhammad Imran Ashraf Usmani Ph. D. Islamic Finance Assistance in translation, editing and compilation by Zeenat Zubairi DARUL-ISHAAT Urdu Bazar Karachi Ph: 021-2631861 2 Meezan Bank’s Guide to Islamic Banking Copyright Regd. No. Publications Rights Reserved with DARUL - ISHAAT KARACHI FIRST EDITION 2002 PRINTED AT ILMI GRAPHICS PUBLISHER DARUL - ISHAAT URDU BAZAR KARACHI-1 PAKISTAN. E-mail : ishaat@digicom.net.pk Ph: 021-2631861 AVAILABLE AT IDARATUL MA’ARIF, DARUL ULOOM, KORANGI, KARACHI DISTRIBUTOR IN U.K. AZHAR ACADEMY LTD., at continenta (London) Ltd.. Cooks Road, London E-15 2pw This copy cannot be sold in the U.K., unless sold by or authorised by the 3 Meezan Bank’s Guide to Islamic Banking TABLE OF CONTENTS Preface 7 SECTION I INTRODUCTION TO ISLAMIC ECONOMIC SYSTEM 1 2 3 Chapter 1: Chapter 2: Chapter 3: The Islamic Economic System Factors of production in Islam The objectives of the distribution of wealth in Islam 11 19 29 SECTION II RIBA, ITS PROHIBITION & CLASSIFICATIONS 4 5 6 7 8 Chapter 4: Chapter 5: Chapter 6: Chapter 7: Chapter 8: Riba in the Qur'an Riba in Hadith Riba and its types Commercial interest and usury Simple and compound interest 34 36 42 53 62 SECTION III ISLAMIC CONTRACT 9 10 11 12 Chapter 9: Chapter 10: Chapter...
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... Acknowledgements First and foremost, I would like to thank my family – mother, father and my siblings – for their undying love. I would never have come so far without them. I would also like to take this opportunity to thank my supervisor, Dr. Humayon Dar, for his insightful guidance and for always being welcoming and patient with my unannounced visits throughout the year. This dissertation would never have been produced otherwise. Last but not least, I would like to thank my friends at Loughborough University that have made my summer of 2004 all the more memorable. For everything that is right, credit goes to all of the above. For anything that is wrong, I am culpable. Ali Arsalan Tariq September 2004 2 TABLE OF CONTENTS I. Introduction II. Islamic Financial Assets: Overview of Theoretical Aspects 2.1 Prohibitions 2.1.1. Prohibition of Riba (Interest) ` 2.1.2. Prohibitions of Gharar (Excessive Uncertainty) 2.1.3. Avoidance of Unethical Investments and Services 2.2 Alternative Basis of Financial Instruments 2.2.1 Partnership Contracts 2.2.2. Exchange Contracts 2.2.3. Financial Assets III. Evolution and Profile of Sukuk Structures and Markets 3.1 Types of Sukuk 3.1.1 Pure Ijarah Sukuk 3.1.2. Hybrid/Pooled Sukuk 3.1.3. Variable Rate Redeemable Sukuk 3.1.4. Zero-coupon non-tradable Sukuk 3.1.5. Embedded Sukuk 3.1.6. Expanded List of Sukuk 3.2 Recent Developments in Sukuk Markets 3.3 Cases: Ijarah: Sovereign Sukuks 3.3.1 Qatar 3.3.2 Malaysia 3.3.3 Ijarah Corporate Sukuks: Gutherie 3.3.4...
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...Islamic & Hindu Weddings The Islamic and Hindu religions have an array of similarities and differences regarding their customs and laws in relation to the ‘wedding ceremony’. Within Islam, the wedding ceremony is believed to be both a religious and social obligation to get married. As a result, there is a great weight placed on religious, social and cultural dimensions of the ceremony which tends to be simple in nature, paralleling Islamic beliefs. Hindus also place a lot of importance on marriage ceremonies which signify customs, rituals and elaborate celebrations. However, a key difference lies in the fact that Islamic marriages are seen as contractual agreements, whereas Hindu marriages are perceived to be sacrilegious. This essay compares and contrasts the various aspects of both Islamic and Hindu wedding ceremonies. For each aspect, the essay examines the Islamic tradition and in turn the corresponding Hindu wedding ritual. Islamic wedding ceremonies or Nikah can be performed in a variety of ways depending on the culture in which they are arranged. For example, Islamic marriages can slightly vary depending on whether they are part of the Asian or Arab world. Typically, Islamic marriages are arranged by the parents of the bride and groom, with the bride and groom having a final say in who they will ultimately marry. The marriage proposal in effect comes from the woman, who contacts the man through a common liaison who tends to be a male relative. The stringent...
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...Paper Islamic Women in Society “Common Perceptions of Muslim Women” Islam is one of the three most popular monotheistic religions in the world. It has both its positive and negative images in the media. Commonly, in society Islam is looked upon as an extreme and radical religion. This paper will take a close look into the reactions to the "Muslim Women" in both American and Muslim American societies in the U.S. Whether it’s the clothing, occupations, marriages, or inequality, the women in this religion seem to be under a magnify glass in society. Islam is the second largest religion and the world and is still increasing in number. Statistics show that estimates of the total number of Muslims range from 0.7 to 1.8 billion worldwide and 1.1 to 7 million in the U.S alone (B.A Robinson). These numbers show that not only is Islam present is everyday society but it is here to stay. The history of Islam started way before America, in the Arabian Peninsula. Before Islam, or Al-Jahiliyah the people of the Arabian plate lived in tribes and the customs were much different to those in present day. Some of the customs that were present before Islam was arranged marriages, the killing of infant girls, and very few rights for women and slaves. All of these pre- Islamic customs were abolished when Islam was brought forth to the people of Arabia. Islam is a religion that not only respects its women but in fact cherishes their very existence. In the Pre- Islamic Arabia...
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