These Short Essays are partial fulfillment of Paper IE1001 of Part 1 of Certified Islamic Finance Professional (CIFP) [DRAFT V0.5] INCEIF Student Name: Mustafa Aydemir Student ID: 1200279 IE1001 Assignment in Islamic Economics - Short Essay No 3 by Mustafa Aydemir - DRAFT Version 0.5.doc -1- Bismillahirrahmanirrahim Essay No. (3) Money and Islam - A Medium of Exchange and a Unit of Account versus Money as a Commodity Everybody is using money. Most of us want it; we work for it and think
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Perspective on the Principles of Islamic Finance Focusing on Sharia Compliance and Arbitrage James M Garner* Abstract This essay is a comprehensive discussion of the crucial Islamic finance principles written within Sharia law that govern the sector. Riba (prohibition of interest) being the major and most widely known is central to the discussion. However‚ this essay deals with many other of the major financial principles‚ for instance Gharar (avoidance of excessive risk)‚ Maisir (avoidance of transactions
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when the insured event does not occur * The company will be in deficit if claims are higher than contributions Riba: Interests An element of interest exists in conventional life insurance products - as the insured‚ on his death‚ is entitled to get much more than he has paid Insurance funds invested in financial instruments such as bonds and stocks contain and element of Riba ------------------------------------------------- THE ISLAMIC INSURANCE (Takaful) ; A Remedy * Takaful is the
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Architectural Association School of Architecture Undergraduate Admissions AA School of Architecture 36 Bedford Square London WC1B 3ES Tel +44 20 7887 4051 Fax +44 20 7414 0779 Email undergraduateadmissions@aaschool.ac.uk www.aaschool.ac.uk Entry Application Undergraduate School This form should be completed in capital letters. Before doing so please read carefully through all information on it and refer to the Frequently Asked Questions page: www.aaschool.ac
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operating under the Shari’ah complaints? A. Yes B. NO C. Don’t know 12. Is this bank paying you any amount on your deposits/savings/investments? A. Yes B. No 13. If Yes to the above question‚ what do you consider that payment? A. Riba on savings B. Profit on investments C. Any other type of
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The loss must be accidental and significant enough to be considered a hardship to the insured. The loss must be accidental and significant enough to be considered a hardship to the insured. INSURABLE RISK The loss must also be part of a similar group of risks‚ so as to make the loss foreseeable. The loss must also be part of a similar group of risks‚ so as to make the loss foreseeable. The possible loss must be plainly explained. The possible loss must be plainly explained. The loss
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management instrument to date‚ Tawarruq is a debate issue among the scholars and there many issues surround it. Rohmatul‚Fathia and Sarni (2011) described that Tawarruq nullifies the aims of Islamic Banking in many ways such as Tawarruq imitates the riba-based banks in offering financing hence it creates confusion between Islamic and
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CLASSIFICATION OF PROPERTY VALUABLE AND NON-VALUABLE MOVABLE AND IMMOVABLE SIMILAR AND DISSIMILAR USABLE AND PERISHABLE DEFINITION VALUABLE -Valuable property includes all permissible things that are possessed and secured NON VALUABLE - Non Valuable property includes all those things which are prohibited by Shariah MOVABLE - Movable property is a property that can be moved from one place to another IMMOVABLE - Immovable property is a property that is permanently fixed to the land
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The Design Process By Shane Lucitt 1 Contents 1.0 Introduction 2.0 Methodology 3.0 Inception 4.0 Feasibility 4.1 Overview of stage 4.2 Assessing the feasibility 4.3 Site investigation 4.4 Effects on design 5.0 Then brief 5.1 Overview of stage 5.2 What the brief should cover 5.3 What the brief should include 5.4 Consultants at this stage 6.0 The concept/outline proposals 6.1 Overview of stage 6.2 Requirements to proceed with concept design 6.3 Developing the brief into concept design 6.4
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built on the foundation of Homo islamicus‚ the Islamic Man‚ which is claimed to be distinctive from Homo economicus. However‚ the Islamic financial institutions emerged as part of the Islamic banking movement‚ where interest (traditionally equated with riba) is regarded as prohibited and the underlying behavior of the constituent members‚ Homo islamicus‚ is assumed as part of an idealized society‚ imbued with Islamic values and commitment. Indeed‚ the accumulating experience of Islamic financial institutions
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