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Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) is an international standard-setting body of regulatory and supervisory agencies that promotes the soundness and stability of the Islamic financial services industry, covering banking, capital market and insurance. In advancing this mission, the IFSB promotes the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing international standards consistent with Sharî'ah principles, and recommend them for adoption. The IFSB was originally established to serve banking sector regulators and central banks. However, in 2004–2005, the IFSB mandate was extended to include supervisors and regulators of insurance and securities markets. History The IFSB was founded by "a consortium of central banks" and the Islamic Development Bank in 2002 and began operations on 10 March 2003. The country of its location, Malaysia, passed a special law the same year —the Islamic Financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Language
English is a West Germanic language of the Indo-European language family, with its earliest forms spoken by the inhabitants of early medieval England. It is named after the Angles, one of the ancient Germanic peoples that migrated to the island of Great Britain. Existing on a dialect continuum with Scots, and then closest related to the Low Saxon and Frisian languages, English is genealogically West Germanic. However, its vocabulary is also distinctively influenced by dialects of France (about 29% of Modern English words) and Latin (also about 29%), plus some grammar and a small amount of core vocabulary influenced by Old Norse (a North Germanic language). Speakers of English are called Anglophones. The earliest forms of English, collectively known as Old English, evolved from a group of West Germanic (Ingvaeonic) dialects brought to Great Britain by Anglo-Saxon settlers in the 5th century and further mutated by Norse-speaking Viking settlers starting in the 8th and 9th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arabic Language
Arabic (, ' ; , ' or ) is a Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C. E.Watson; Walter de Gruyter GmbH & Co. KG, Berlin/Boston, 2011. Having emerged in the 1st century, it is named after the Arab people; the term "Arab" was initially used to describe those living in the Arabian Peninsula, as perceived by geographers from ancient Greece. Since the 7th century, Arabic has been characterized by diglossia, with an opposition between a standard prestige language—i.e., Literary Arabic: Modern Standard Arabic (MSA) or Classical Arabic—and diverse vernacular varieties, which serve as mother tongues. Colloquial dialects vary significantly from MSA, impeding mutual intelligibility. MSA is only acquired through formal education and is not spoken natively. It is the language of literature, official documents, and formal written m ... [...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] |
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] |
Central Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Development Bank
The Islamic Development Bank ( ar, البنك الإسلامي للتنمية, abbreviated as IsDB) is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia. History It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the Organisation of Islamic Cooperation) with the support of the King of Saudi Arabia at the time ( Faisal), and began its activities on 3 April 1975. On the 22 May 2013, IDB tripled its authorized capital to $150 billion to better serve Muslims in member and non-member countries. The Bank has received credit ratings of AAA from Standard & Poor's, Moody's, and Fitch. Saudi Arabia holds about one quarter of the bank's paid up capital. The IDB is an observer at the United Nations General Assembly. Membership The presen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emerald Group Publishing
Emerald Publishing Limited is a scholarly publisher of academic journals and books in the fields of management, business, education, library studies, health care, and engineering. History Emerald was founded in the United Kingdom in 1967 as ''Management Consultants Bradford (MCB) UP Ltd.'' The publisher changed its name to Emerald in 2002 following the success of its Emerald Fulltext database. In 2007 Emerald acquired a programme of Management and Social Science book serials, series and monographs from Elsevier. The acquisition of health and social care publisher Pier Professional Limited took place in 2011. In June 2015, the Emerald acquisition of GoodPractice was announced. GoodPractice is a provider of support tools for leaders and senior managers. Company Emerald Publishing is headquartered in Bingley and led by CEO Vicky Williams since 2018. Sponsoring In 2017 Emerald became the title sponsor of Headingley Stadium with it being renamed Emerald Headingley. As part o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting And Auditing Organization For Islamic Financial Institutions
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a Bahrain-based not-for-profit organization that was established to maintain and promote Shariah standards for Islamic financial institutions, participants and the overall industry. The commission also organizes a number of professional development programs (especially the Islamic legal accountant program, observer program and forensic auditing program) in their effort to improve the industry. Incorporation AAOIFI was established in accordance with the Agreement of Association which was signed by Islamic financial institutions on 26 February 1990 in Algiers. Then, it was registered on 27 March 1991 in Bahrain. It has members from more than 45 countries, including central banks and Islamic financial institutions and other parties working in the financial industry and banking, Islamic International. The commission has obtained support for the application of the standards issued by it, where thes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-profit Organisations Based In Malaysia
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulation
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law. History In the early modern period, the Dutch were the pioneers in financial regulation. The first recorded ban (regulation) on short selling was enacted by the Dutch authorities as early as 1610. Aims of regulation The objectives of financial regulators are usually: * market confidence – to maintain confidence in the financial system * financial stability – contributing to the protection and e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
