In this world, we have two options, basically. We could be very much of big picture mentality or we could be very much focused on small, small things; technical aspect of things. We can be very technical, we can be very literalist, or we can be a bit above the board to see the issues …
Dr. Mohd Daud Bakar on ‘Big Picture Mentality in Islamic Finance’ Read More »
So if we speak about the Islamic Finance in Kazakhstan and the CIS region we can say that there is a very big demand for the Islamic financial products within the nations in this region. And particularly, the Kazakhstan is leading in terms of the legislation. It has developed the full legislation allowing for the …
The word Takaful is derived from the Arabic verb ‘kafalah’ which means to take care of one’s need. It can be defined as the pact between two parties or more who agree to joint guarantee one another in the event of loss or damage that might be inflicted upon anyone of them. The differences between …
Can you see any similarities between human body system and Shariah? Well, Shariah is an apparatus which integrates all domains of human life, which is comprises the relationship of human being with regards to the vertical and horizontal relationship, just like the different system in the human body integrate to provide a complete human being. …
Shariah standard on gold How do you sell gold for cash in a Shariah compliant manner? This is the main point setup in the AAOIFI Shariah Standard on gold which was recently issued and the one that has the widest impact and garnered a lot of attention. The AAOIFI Shariah Standard stipulates that the exchange …
Maya Marissa Malek on “Shariah Standard on Gold” Read More »
Contract or aqd is Islamic commercial law means to tie or to bind because the contract is binding between the two parties, the offerer and offeree. Technically, contract is a legal agreement between two or more persons that creates rights and liabilities. Contracts are the foundation upon which the Islamic finance product rest. Contract in …
Idris Mojaddidi on “Aqd or Contract in Islamic Finance” Read More »
I want to talk about one of the best advisory company in Islamic financial industry. I want to talk about Amanie Advisory. I’ve been with this company since 2007, 2008 and from my previous experience since 1988 in this field, during studying, searching, as well as advising many companies, banks, funds, takaful companies, I can …
Islamic mortgage Home mortgage is a very common terminology describing the way to own and purchase your dream property. How does it work, conventionally? You go, simply go to a bank, you don’t have sufficient funds to purchase your dream property, let’s say it’s worth 1 million USD. You go to the bank, you request …
What is ‘murabahah’? Murabahah is actually derived from the Arabic word of ‘ribh’, which means profit. Technically, it is a contract of sale in which the seller is obliged to disclose the cost price of the commodity plus the profit margin he makes on the commodity. It is also known as cost plus financing. Murabahah …
I would like to believe that my book on the Shariah Minds in Islamic Finance is the first ever book written by a scholar, about the way the Shariah scholars have been thinking and putting their thoughts together in dealing with the Islamic financial industry. With regards to the products, the endorsement, the audit, compliance, …
Dr Mohd Daud Bakar on his book “Shariah Minds in Islamic Finance” Read More »