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Al Baraka Bank
Al Baraka (Pakistan) Limited (ABPL) () came into being as a result of the first merger in the Islamic Banking sector of Pakistan. The merger took place between the branch operations of Al Baraka Islamic Bank (AIB) Bahrain, Al Baraka Islamic Bank Pakistan (AIBP) and Emirates Global Islamic Bank (Pakistan), and thus from 1st November 2010, the operations of the merged entity began. The second merger took place in 2016 with Burj Bank Ltd. As of September 2016, the Bank has a national presence in Pakistan with a network of 191 branches in more than 97 cities across the country. History Al Baraka Islamic Bank is attributed to be the pioneer of Islamic Banking in Pakistan. It has been operating in the country since 1991 as branch operations of ''Al Baraka Islamic Bank Bahrain.'' During this period of over two decades in the country, the bank effectively developed and sustained its identity as one of the pioneers in providing Shariah compliant banking products and services. It has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or Over-the-counter (finance), over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their public company, publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking And Finance
Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include ''Mudarabah'' (profit-sharing and loss-bearing), ''Wadiah'' (safekeeping), ''Musharaka'' (joint venture), ''Murabahah'' (cost-plus), and ''Ijara'' ( leasing). Sharia prohibits ''riba'', or usury, defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to ''riba''). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also ''haram'' ("sinful and prohibited"). These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent un-Islamic practices. In the late 20th century, as part of the revi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Al Baraka Banking Group
Al Baraka Group B.S.C. ("ABG" / the “Group”) is licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain and is listed on Bahrain Bourse. It is a leading international Islamic financial group providing financial services through its banking subsidiaries in 15 countries offering retail, corporate, treasury and investment banking services, strictly in accordance with the principles of Islamic Shari'a. The Group has a wide geographical presence with operations in Jordan, Egypt, Tunisia, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, Syria, Morocco and Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ..., in addition to two branches in Iraq and a representative office in Libya and provides its services in m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dawn Newspaper
''Dawn'' is a Pakistani English-language newspaper that was launched in British India in 1941. It is the largest English newspaper in Pakistan, and also serves as the country's newspaper of record. ''Dawn'' is the flagship publication of the Dawn Media Group, which also owns local radio station ''CityFM89'' as well as the marketing and media magazine ''Aurora''. Muhammad Ali Jinnah, Pakistan's founding father, launched the newspaper in Delhi on 26 October 1941, with the goal of establishing it as a mouthpiece for the All-India Muslim League. The first issue was printed at Latifi Press on 12 October 1942. Based in Karachi, it also maintains offices in Lahore and the capital city of Islamabad, in addition to having correspondents abroad. , it has a weekday circulation of over 109,000. The newspaper's current chief editor is Zaffar Abbas. History ''Dawn'' began as a weekly publication, based in New Delhi. Under the instruction of Jinnah, it became the official organ of the All In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan
Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 243 million people, and has the world's Islam by country#Countries, second-largest Muslim population just behind Indonesia. Pakistan is the List of countries and dependencies by area, 33rd-largest country in the world by area and 2nd largest in South Asia, spanning . It has a coastline along the Arabian Sea and Gulf of Oman in the south, and is bordered by India to India–Pakistan border, the east, Afghanistan to Durand Line, the west, Iran to Iran–Pakistan border, the southwest, and China to China–Pakistan border, the northeast. It is separated narrowly from Tajikistan by Afghanistan's Wakhan Corridor in the north, and also shares a maritime border with Oman. Islamabad is the nation's capital, while Karachi is its largest city and fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Burj Bank
Burj Bank Limited, formerly known as Dawood Islamic Bank Limited (DIBL), now merged into Al Baraka Bank, was Pakistan's sixth full-fledged Islamic commercial bank. The bank received its license from the State Bank of Pakistan in May 2006, and officially commenced its operations on Friday, April 27, 2007. The bank was the result of an initiative of the First Dawood Group, with the Islamic Corporation for the Development of the Private Sector (ICD) in Jeddah, Unicorn Investment Bank in Bahrain, Al Safat Investment Company in Kuwait, Gargash Enterprises (LLC) in Dubai, the Singapore-based entrepreneur Azam Essof Kolia and Shaikh Abdullah Mohammad Al-Romaizan, an entrepreneur from the Kingdom of Saudi Arabia. In July 2011, the bank was renamed Burj Bank. Mufti Muneeb-ur-Rehman Muḥammad Muneeb-ur-Rehman ( Munīb-ur-Rehmān; born ) is a Pakistani Mufti and former chairman of Ruet-e-Hilal Committee. He is a professor at Jinnah University for Women, Member of National Academic Cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Express Tribune
''The Express Tribune'' is a daily English-language newspaper based in Pakistan. It is the flagship publication of the '' Daily Express'' media group. It is Pakistan's only internationally affiliated newspaper in a partnership with the ''International New York Times'', the global edition of ''The New York Times''. Headquartered in Karachi, it also prints copy from offices in Lahore, Islamabad, and Peshawar. It was launched on 12 April 1999, in broadsheet format, with a news design distinctive from traditional Pakistani newspapers. Its editorial stance identifies with social liberalism, and its readership is generally on the mainstream left of Pakistani political and social opinion. Topics the newspaper covers include politics, international affairs, economics, investment, sports, and culture. It runs a glossy called ''Express Tribune Magazine'' on Sunday, which includes social commentary, interviews, and a four-page supplement with recipes, reviews, travel advice, blogs, and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking
Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include ''Mudarabah'' (profit-sharing and loss-bearing), ''Wadiah'' (safekeeping), ''Musharaka'' (joint venture), ''Murabahah'' (cost-plus), and ''Ijara'' ( leasing). Sharia prohibits ''riba'', or usury, defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to ''riba''). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also ''haram'' ("sinful and prohibited"). These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent un-Islamic practices. In the late 20th century, as part of the revi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Persian Gulf
The Persian Gulf ( fa, خلیج فارس, translit=xalij-e fârs, lit=Gulf of Persis, Fars, ), sometimes called the ( ar, اَلْخَلِيْجُ ٱلْعَرَبِيُّ, Al-Khalīj al-ˁArabī), is a Mediterranean sea (oceanography), mediterranean sea in Western Asia. The body of water is an extension of the Indian Ocean located between Iran and the Arabian Peninsula.United Nations Group of Experts on Geographical NameWorking Paper No. 61, 23rd Session, Vienna, 28 March – 4 April 2006. accessed October 9, 2010 It is connected to the Gulf of Oman in the east by the Strait of Hormuz. The Shatt al-Arab river delta forms the northwest shoreline. The Persian Gulf has many fishing grounds, extensive reefs (mostly rocky, but also Coral reef, coral), and abundant pearl oysters, however its ecology has been damaged by industrialization and oil spills. The Persian Gulf is in the Persian Gulf Basin, which is of Cenozoic origin and related to the subduction of the Arabian Plate u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MENA
MENA, an acronym in the English language, refers to a grouping of countries situated in and around the Middle East and North Africa. It is also known as WANA, SWANA, or NAWA, which alternatively refers to the Middle East as Western Asia (or as "Southwestern Asia" in the case of "SWANA") and is a way to refer to the geography instead of the political term. As a regional identifier, ''MENA'' is often used in education in the Middle East and North Africa, academia, military planning, disaster relief, media planning (as a broadcast region), and business writing. Moreover, the region shares a number of cultural, economic, and environmental similarities across its comprising countries; for example, Climate change in the Middle East and North Africa, some of the most extreme impacts of climate change will be felt in MENA. Some terms have a wider definition than MENA, such as MENASA, MENAP or Greater Middle East, which extends to South Asia to include the countries of Afghanistan an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Murabaha
''Murabaḥah'', ''murabaḥa'', or ''murâbaḥah'' ( ar, مرابحة, derived from ''ribh'' ar, ربح, meaning profit) was originally a term of ''fiqh'' (Islamic jurisprudence) for a sales contract where the buyer and seller agree on the markup (profit) or "cost-plus" price for the item(s) being sold. In recent decades it has become a term for a very common form of Islamic (i.e., "shariah compliant") financing, where the price is marked up in exchange for allowing the buyer to pay over time—for example with monthly payments (a contract with deferred payment being known as ''bai-muajjal''). ''Murabaha'' financing is similar to a rent-to-own arrangement in the non-Muslim world, with the intermediary (e.g., the lending bank) retaining ownership of the item being sold until the loan is paid in full. There are also Islamic investment funds and ''sukuk'' (Islamic bonds) that use ''murabahah'' contracts. Jamaldeen, ''Islamic Finance For Dummies'', 2012:188-9, 220-1 The purpose o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ijarah
''Ijarah'', ( ar, الإجارة , al-Ijārah, "to give something on rent" or "providing services and goods temporarily for a wage" Jamaldeen, ''Islamic Finance For Dummies'', 2012:157 (a noun, not a verb)), is a term of ''fiqh'' (Islamic jurisprudence) Usmani, ''Introduction to Islamic Finance'', 1998: p.109 and product in Islamic banking and finance. In traditional ''fiqh'', it means a contract for the hiring of persons or renting/leasing of the services or the “usufruct” of a property, generally for a fixed period and price. In hiring, the employer is called ''musta’jir'', while the employee is called ''ajir''. ''Ijarah'' need not lead to purchase. In conventional leasing an "operating lease" does not end in a change of ownership, nor does the type of ''ijarah'' known as ''al-ijarah (tashghiliyah)''. In Islamic finance, ''al Ijarah'' does lead to purchase (''Ijara wa Iqtina'', or "rent and acquisition") and usually refers to a leasing contract of property (such as land, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
