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Bai Salam
''Bai Salam'' (Arabic بيع سلم, more accurately transliterated as ''Bai us Salami'') is an Islamic contract in which full payment is made in advance for specific goods (often agricultural products) to be delivered at a future date. It is necessary that the quality of the commodity intended to be purchased is fully specified leaving no ambiguity leading to dispute. Bai salam covers almost every thing which is capable of being definitely described as to quality, quantity and workmanship. For Islamic banks this product is an ideal for Agriculture financing but can also be used to finance the working capital needs to the business customer. It is one of the most popular Islamic Modes of finance used by banks in Islamic countries to promote riba-free transactions. Early and contemporary jurists agree on the legitimacy of Salam. In general under Shariah law, no sale is lawful unless the goods being sold are in existence at the time of the agreement. Salam sale is an exception f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islam
Islam (; ar, ۘالِإسلَام, , ) is an Abrahamic religions, Abrahamic Monotheism#Islam, monotheistic religion centred primarily around the Quran, a religious text considered by Muslims to be the direct word of God in Islam, God (or ''Allah'') as it was revealed to Muhammad, the Muhammad in Islam, main and final Islamic prophet.Peters, F. E. 2009. "Allāh." In , edited by J. L. Esposito. Oxford: Oxford University Press. . (See alsoquick reference) "[T]he Muslims' understanding of Allāh is based...on the Qurʿān's public witness. Allāh is Unique, the Creator, Sovereign, and Judge of mankind. It is Allāh who directs the universe through his direct action on nature and who has guided human history through his prophets, Abraham, with whom he made his covenant, Moses/Moosa, Jesus/Eesa, and Muḥammad, through all of whom he founded his chosen communities, the 'Peoples of the Book.'" It is the Major religious groups, world's second-largest religion behind Christianity, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agriculture
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. After gathering wild grains beginning at least 105,000 years ago, nascent farmers began to plant them around 11,500 years ago. Sheep, goats, pigs and cattle were domesticated over 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. Industrial agriculture based on large-scale monoculture in the twentieth century came to dominate agricultural output, though about 2 billion people still depended on subsistence agriculture. The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials (such as rubber). Food classes include cereals (grains), vegetables, fruits, cooking oils, meat, milk, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic
Islam (; ar, ۘالِإسلَام, , ) is an Abrahamic monotheistic religion centred primarily around the Quran, a religious text considered by Muslims to be the direct word of God (or '' Allah'') as it was revealed to Muhammad, the main and final Islamic prophet.Peters, F. E. 2009. "Allāh." In , edited by J. L. Esposito. Oxford: Oxford University Press. . (See alsoquick reference) " e Muslims' understanding of Allāh is based...on the Qurʿān's public witness. Allāh is Unique, the Creator, Sovereign, and Judge of mankind. It is Allāh who directs the universe through his direct action on nature and who has guided human history through his prophets, Abraham, with whom he made his covenant, Moses/Moosa, Jesus/Eesa, and Muḥammad, through all of whom he founded his chosen communities, the 'Peoples of the Book.'" It is the world's second-largest religion behind Christianity, with its followers ranging between 1-1.8 billion globally, or around a quarter of the world's po ... [...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] |
Asiatic Society Of Bangladesh
The Asiatic Society of Bangladesh is a non political and non profit research organisation registered under both Society Act of 1864 and NGO Bureau, Government of Bangladesh. The Asiatic Society of Bangladesh was established as the Asiatic Society of East Pakistan in Dhaka in 1952 by a number of Muslim leaders, and renamed in 1972. Ahmed Hasan Dani, a noted Muslim historian and archaeologist of Pakistan played an important role in founding this society. He was assisted by Muhammad Shahidullah, a Bengali linguist. The society is housed in Nimtali, walking distance from the Curzon Hall of Dhaka University, locality of Old Dhaka. Publications The society's publications include: * ''Banglapedia, the National Encyclopedia of Bangladesh'' (edition 2, 2012) * ''Encyclopedia of Flora and Fauna of Bangladesh'' (2010, 28 volumes) * ''Cultural Survey of Bangladesh, a documentation of the country's cultural history, tradition and heritage'' (2008, 12 volumes) * ''Children’s Banglapedia'', a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hadith
Ḥadīth ( or ; ar, حديث, , , , , , , literally "talk" or "discourse") or Athar ( ar, أثر, , literally "remnant"/"effect") refers to what the majority of Muslims believe to be a record of the words, actions, and the silent approval of the Islamic prophet Muhammad as transmitted through chains of narrators. In other words, the ḥadīth are transmitted reports attributed to what Muhammad said and did. Hadith have been called by some as "the backbone" of Islamic civilization, J.A.C. Brown, ''Misquoting Muhammad'', 2014: p.6 and for many the authority of hadith as a source for religious law and moral guidance ranks second only to that of the Quran (which Muslims hold to be the word of God revealed to Muhammad). Most Muslims believe that scriptural authority for hadith comes from the Quran, which enjoins Muslims to emulate Muhammad and obey his judgements (in verses such as , ). While the number of verses pertaining to law in the Quran is relatively few, hadith are co ... [...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] |
FINCA Afghanistan
FINCA Afghanistan is a nonprofit microfinance organization and an affiliate of FINCA International. Its headquarters is in Kabul, Afghanistan. Background and history FINCA Afghanistan was founded on August 1, 2003 through grants and loans supplied by several donors and funding agencies. Her Majesty Queen Rania of Jordan announced the launching of the program in 2002. FINCA Afghanistan began lending operations in the city of Herat on February 24, 2004. By the end of its first year in operation, the organization had reached over 4,500 clients, an outstanding loan portfolio of almost $700,000, and a repayment rate of 100%. FINCA expanded its operations to Kabul and Nangarhar in 2005, followed by Balkh, Laghman, Kunar and Parwan in 2006, and Kunduz in 2007. In each of these provinces, FINCA established branch and market offices in the provincial capital, as well as outlying cities and districts. FINCA Afghanistan's Islamic banking products Since its inception, FINCA Afghanistan h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the delive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shariah Investments
Banking or banking activity that complies with Sharia (Islamic law)—known as Islamic banking and finance, or Sharia-compliant finance—has its own products, services and contracts that differ from conventional banking. Some of these include ''Mudharabah'' ( profit sharing), ''Wadiah'' (safekeeping), ''Musharakah'' (joint venture), ''Murabahah'' (cost plus finance), ''Ijar'' ( leasing), ''Hawala'' (an international fund transfer system), ''Takaful'' (Islamic insurance), and ''Sukuk'' (Islamic bonds). 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''). Farooq, ''Riba-Interest Equation and Islam'', 2005: pp. 3–6 Khan, ''What Is Wrong with Islamic Economics?'', 2013: pp. 216–226 Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also ''haraam'' ("sinful and prohibited") ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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