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Accounting Information Systems of Sibl

In: Business and Management

Submitted By ShehabSultana
Words 14908
Pages 60
1.1 Introduction

An early market economy and an early form of mercantilism, sometimes called "Islamic capitalism", were developed between the eighth and twelfth centuries. The monetary economy of the period was based on the widely circulated currency the gold dinar, and it tied together regions that were previously economically independent.

A number of economic concepts and techniques were applied in early Islamic banking, including billsofexchange, partnership (mufawada,including limitedpartnerships,or mudaraba), and forms of capital (al-mal), capital accumulation (name al-mal),cheques, promissory notes,trusts (see Waqf),transactionalaccounts, loaning, ledgers and assignments.Organizational enterprises independent from the state also existed in the medieval Islamic world, while the agency institution was also introduced during that time. Many of these early capitalist concepts were adopted and further advanced in medieval Europe from the 13th century onwards.

Bangladesh is one of the largest Muslim countries in the world. The people of the Muslim community wishes to design their economic activities in accordance with the percepts of Islam so the establishment of some numbers of Islami Bank in Bangladesh is the true reflection of long day’s deep cry in their heart.

The Objective of Social Islami Banking is not only to earn profit, but also to do good and welfare to the people. Islam upholds that, money, income and property belong to Allah and this wealth is to be used for the good of the society. Social Islami Banks operate their banking activates based on the Islamic principles of profit and loss sharing and strictly avoiding interest.

1.2 Background and Purpose of the Internship Program

The internship program is an integral part of the BBA program that all the students have to undergo of International Business Administration and Information…...

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