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Amana Mutual Funds Trust
Amana Mutual Funds Trust (Ticker symbols: AMANX, AMAGX, and AMDWX), headquartered in Bellingham, Washington, is a mutual fund company offering investment products consistent with Islamic banking principles.Kathman, David. “Heavenly Returns.” Morningstar Advisor February/March 2009: 48-50.http://www.amanafunds.com. http://www.amanafunds.com/adviser/portfolio/manager.shtml. September 19, 2012. Founding principles The Amana Income Fund, founded by Unified Management Corporation, Indianapolis, IN, in 1986, was the Trust's first fund. The Amana Growth Fund was created in 1994. The Amana Developing World Fund was created in 2009. All three funds are managed according to Islamic principles. Traditional mutual funds are off-limits to Muslims, because they typically contain securities that are forbidden by sharia law. Accordingly, the Amana Funds are managed under strict guidelines to comply with Islamic principles. Examples of forbidden (haram) investments are companies that: :*Prod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bellingham, Washington
Bellingham ( ) is the most populous city in, and county seat of Whatcom County in the U.S. state of Washington. It lies south of the U.S.–Canada border in between two major cities of the Pacific Northwest: Vancouver, British Columbia (located to the northwest) and Seattle ( to the south). The city had a population of 92,314 as of 2019. The city of Bellingham, incorporated in 1903, consolidated four settlements: Bellingham, Whatcom, Fairhaven, and Sehome. It takes its name from Bellingham Bay, named by George Vancouver in 1792, for Sir William Bellingham, the Controller of Storekeeper Accounts of the Royal Navy during the Vancouver Expedition. Today, Bellingham is the northernmost city with a population of more than 90,000 people in the contiguous United States. It is a popular tourist destination known for its easy access to outdoor recreation in the San Juan Islands and North Cascades. More than of former industrial land on the Bellingham waterfront is undergoing re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as of the close ... [...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] |
Sharia
Sharia (; ar, شريعة, sharīʿa ) is a body of religious law that forms a part of the Islamic tradition. It is derived from the religious precepts of Islam and is based on the sacred scriptures of Islam, particularly the Quran and the Hadith. In Arabic, the term ''sharīʿah'' refers to God's immutable divine law and is contrasted with ''fiqh'', which refers to its human scholarly interpretations. In the historical course, fiqh sects have emerged that reflect the preferences of certain societies and state administrations on behalf of people who are interested in the theoretical (method) and practical application (Ahkam / fatwa) studies of laws and rules, but sharia has never been a valid legal system on its own. It has been used together with " customary (Urf) law" since Omar or the Umayyads. It may also be wrong to think that the Sharia, as a religious argument or belief, is entirely within or related to Allah's commands and prohibitions. Several non-graded crimes are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Haraam
''Haram'' (; ar, حَرَام, , ) is an Arabic term meaning 'Forbidden'. This may refer to either something sacred to which access is not allowed to the people who are not in a state of purity or who are not initiated into the sacred knowledge; or, in direct contrast, to an evil and thus "sinful action that is forbidden to be done". The term also denotes something "set aside", thus being the Arabic equivalent of the Hebrew concept he, , ḥērem, label=none and the concept of (cf. sacred) in Roman law and religion. In Islamic jurisprudence, ''haram'' is used to refer to any act that is forbidden by God and is one of the five Islamic commandments ( ar, الأحكام الخمسة, al-ʾAḥkām al-Ḵamsa) that define the morality of human action. Acts that are haram are typically prohibited in the religious texts of the Quran, and the category of haram is the highest status of prohibition. If something is considered haram, it remains prohibited no matter how good the in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Riba
The Royal Institute of British Architects (RIBA) is a professional body for architects primarily in the United Kingdom, but also internationally, founded for the advancement of architecture under its royal charter granted in 1837, three supplemental charters and a new charter granted in 1971. Founded as the Institute of British Architects in London in 1834, the RIBA retains a central London headquarters at 66 Portland Place as well as a network of regional offices. Its members played a leading part in promotion of architectural education in the United Kingdom; the RIBA Library, also established in 1834, is one of the three largest architectural libraries in the world and the largest in Europe. The RIBA also played a prominent role in the development of UK architects' registration bodies. The institute administers some of the oldest architectural awards in the world, including RIBA President's Medals Students Award, the Royal Gold Medal, and the Stirling Prize. It also manages ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Investing
Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. The various forms of value investing derive from the investment philosophy first taught by Benjamin Graham and David Dodd at Columbia Business School in 1928, and subsequently developed in their 1934 text ''Security Analysis''. The early value opportunities identified by Graham and Dodd included stock in public companies trading at discounts to book value or tangible book value, those with high dividend yields, and those having low price-to-earning multiples, or low price-to-book ratios. High-profile proponents of value investing, including Berkshire Hathaway chairman Warren Buffett, have argued that the essence of value investing is buying stocks at less than their intrinsic value. The discount of the market price to the intrinsic value is what Benjamin Graham called the " margin of safety". For the last 25 years, under the influence of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hajj
The Hajj (; ar, حَجّ '; sometimes also spelled Hadj, Hadji or Haj in English) is an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims. Hajj is a mandatory religious duty for Muslims that must be carried out at least once in their lifetime by all adult Muslims who are physically and financially capable of undertaking the journey, and of supporting their family during their absence from home. In Islamic terminology, Hajj is a pilgrimage made to the Kaaba, the "House of God", in the sacred city of Mecca in Saudi Arabia. It is one of the Five Pillars of Islam, alongside Shahadah (oath to God), Salat (prayer), Zakat (almsgiving) and Sawm (fasting of Ramadan). The Hajj is a demonstration of the solidarity of the Muslim people, and their submission to God ( Allah). The word Hajj means "to attend a journey", which connotes both the outward act of a journey and the inward act of intentions. The rites of pilgrimage are performed over five to six ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allah
Allah (; ar, الله, translit=Allāh, ) is the common Arabic word for God. In the English language, the word generally refers to God in Islam. The word is thought to be derived by contraction from '' al- ilāh'', which means "the god", and is linguistically related to the Aramaic words Elah and Syriac (ʼAlāhā) and the Hebrew word '' El'' ('' Elohim'') for God. The feminine form of Allah is thought to be the word Allat. The word ''Allah'' has been used by Arabic people of different religions since pre-Islamic times. The pre-Islamic Arabs worshipped a supreme deity whom they called Allah, alongside other lesser deities. Muhammad used the word ''Allah'' to indicate the Islamic conception of God. ''Allah'' has been used as a term for God by Muslims (both Arab and non-Arab) and even Arab Christians after the term " al- ilāh" and "Allah" were used interchangeably in Classical Arabic by the majority of Arabs who had become Muslims. It is also often, albeit not exclusiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yaqub Mirza
M. Yaqub Mirza (born 1946 in Karachi, Pakistan) is a Herndon, Virginia-based businessman and Islamic activist. Background Muhammad Yaqub Mirza holds a MSc from the University of Karachi (1969), and a PhD in Physics (1974) and M.A. in Teaching Science (1975) from the University of Texas at Dallas. His doctoral thesis was entitled ''Multiphoton Ionization of Cesium Through Resonant Dissociative States of Cs2'' and his thesis advisor was Carl B. Collins. Mirza was a co-founder of the International Institute of Islamic Thought. Mirza was a co-founder and trustee (1984–2003) of Amana Mutual Funds Trust, a Bellingham, Washington-based mutual fund that operates in accordance with Sharia financial principles. Since 1998, he has been President and CEO of Sterling Management Group, Inc (SMG). Lecturing career Mirza lectures on Islamic finance and Entrepreneurship and has spoken at several institutions. Legal issues and political activity In 2002, Mirza's offices were raided by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zakat
Zakat ( ar, زكاة; , "that which purifies", also Zakat al-mal , "zakat on wealth", or Zakah) is a form of almsgiving, often collected by the Muslim Ummah. It is considered in Islam as a religious obligation, and by Quranic ranking, is next after prayer ('' salat'') in importance. As one of the Five Pillars of Islam, zakat is a religious duty for all Muslims who meet the necessary criteria of wealth to help the needy. It is a mandatory charitable contribution, often considered to be a tax.Muḥammad ibn al-Ḥasan Ṭūsī (2010), ''Concise Description of Islamic Law and Legal Opinions'', , pp. 131–135. The payment and disputes on zakat have played a major role in the history of Islam, notably during the Ridda wars. Zakat on wealth is based on the value of all of one's possessions. It is customarily 2.5% (or ) of a Muslim's total savings and wealth above a minimum amount known as ''nisab'' each lunar year, but Islamic scholars differ on how much ''nisab'' is and other a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jamal Al Barzinji
Jamal al Barzinji ( ar, جمال برزنجي) (December 15, 1939 – September 26, 2015) was an Kurdish-American businessman, associated with the International Institute of Islamic Thought, the World Assembly of Muslim Youth, and the SAAR Foundation. He was a founder and served on the board of the Islamic Society of North America and is a past president of the Muslim Students' Association. Background Barzinji was listed as the successor registrant of Grover Norquist's defunct lobbying firm Janus-Merritt Strategies, after the departure of David Safavian. On September 25, 2011 Barzinji was awarded a lifetime achievement award by the Arab community of northern Virginia at an event attended by Virginia governor Tim Kaine Timothy Michael Kaine (; born February 26, 1958) is an American lawyer and politician serving as the junior United States senator from Virginia since 2013. A member of the Democratic Party, he served as the 38th lieutenant governor of Virgini .... Barzinj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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