Islamic Banking Deposit Products Islamic Banking Deposit Products: Islamic banks receive deposits under two principles: i) Al-Wadeeah principle. ii) Mudaraba principle. Al-Wadeeah: The fund which is deposited with Banks by the depositors with clear permission to utilize/invest the same is called Al-Wadeeah. Islamic banks receive deposits in Current Accounts on […]
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Discussion about Ijarah (Leasing) Ijarah (Leasing) Ijarah is a term of Islamic fiqh. Lexically, it means “to give something on rent”. In the Islamic jurisprudence, the term “Ijarah” is used for two different situations. 1) In the first place, it means “to employ the services of a person on […]
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Shariah Compliance: Irregularities Detected While Inspecting Branch and Remedial Measure ِكُلٍّ جَعَلْنَا مِنكُمْ شِرْعَةً وَمِنْهَاجًا To each of you We prescribed a law and a method. [5. Sura Mayeedah : 48] SHARIAH & IT`S OBJECTIVES شريعة is an Arabic word : It means The way, Road Path, Destination […]
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Zakat- meaning, principles,basis, categories,inflation,advantages and influence (a) Its Meaning for Modern Man The word “Zakät” means “that which purifies” and “that which fosters”. All original sources of wealth—the sun, the moon, the stars, the earth, the clouds that bring rain, the winds that drive the clouds and carry the pollen, […]
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The Hidden Agenda of ‘Interest’ Versus ‘Profit’ Importance of Bank The Hidden Agenda Of ‘Interest’ Versus ‘Profit’ Banks are an essential component of the present day world-individuals as well as public and private institutions can hardly operate without the institution of banking. Commercial banking as we find it today had […]
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Islamic Economics- A Comparative Review Islamic Economics- A Comparative Review Meaning, Nature and Scope of Islamic Economics The Origin of Islamic Economics ” And when the Prayer Is finished, then may ye Disperse through the land, And seek of the Bounty of Allah. Al-Qur’än, Sürah LXII. 10 “No one eats […]
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What is Islamic Bond Sukuk? What is Islamic Bond Sukuk? SUKUK (Islamic Bond) may be the alternative channeling of funds for industrialization of Bangladesh Contributor: Dr. Mohammed Shahid Ullah There is a growing demand for shariah compliant instruments in the Islamic countries as well as the rest of the world as […]
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Baimuazzal (Export)-Export Financing by Islami Bank Baimuazzal (Export)-Export Financing by Islami Bank: It is a contract in which a client wishing to purchase raw materials, finished goods, commodities, spares, machinery, equipments or any other goods for request of the bank to procure the items and sell them to him […]
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Foreign Exchange Operation Export Financing by Islami Bank Exporter means any person lawfully exporting goods from Bangladesh to any other country. After shipment, the exporter has to tender the document to the bank within the stipulated period for the negotiation of the documents are drawn under a Letter of Credit. […]
Read moreModes Of Investment Under Islamic Banking Investment Instrument of an Islami Bank: Islami Bank invests its money in various sector of the economy through different modes permitted by shariah and approved by Bangladesh Bank. The modes of investment are as follows: 1. Mudaraba. 2. Musharaka 3. Murabaha [ Commercial, Post […]
Read moreSalient features of Islamic banking Concepts of Islamic Banking, Historical and Its Objective In the late seventies and early eighties, Muslim countries were awoken by the emergence of Islami Bank which provided interest-free banking facilities. There are currently more than 300 interest-free institutions all over the world. Islam Bank nowadays […]
Read moreRiba- Its Economic Rationale and Implications By Dr. Abdel-Rahman Yousri Ahmad Director General Institute of Islamic University Pakistan Introduction The word “Riba”, in Arabic language, literally means an “increment’ or addition”. In Islamic Fiqh the term riba has a special meaning. Riba is an unjustified increment in borrowing or lending […]
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Islamic Banking Problems and Prospects of Bangladesh To know Islamic Banking Problems and Prospects of Bangladesh at first we should have to know what is Islamic Banking. What is Islamic Banking A banking is a systematic process of financial activities of an organization. Islamic banking is a process where as […]
Read moreBai Murabaha The term ‘Bai-Murabaha’ has been derived from Arabic words ﻊﻴﺒ and ﺢﺑﺭ (Bai’un and Ribhun). The word ﻊﻴﺒ means purchase and sale and the word ﺢﺑﺭ means an agreed upon profit. ﺍﻠﻤﺮﺍﺒﺢ ﻊﻴﺒ ‘Bai-Murabaha’ means sale on agreed upon profit. Bai-Murabaha may be defined as a contract between […]
Read moreIslamic Banking- Bai Mechanism Bai Mechanism Bai means purchase and sale of goods in cash or on credit or in advance at an agreed upon profit, which may or may not be disclosed to the client. Majority of investments of Islamic banks are extended through this mechanism. A good number […]
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