Islamic Finance by Zubair Mughal

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Top 20 FREQUENT WORDS

takaful 50 islamic 38 bai 27 insurance 13 based 11 financial 9 international 9 services 9 banking 8 countries 8 institutions 8 loss 8 banks 7 baraka 7 finance 7 modes 7 retakaful 7 shariah 7 business 6 companies 6 malaysia 6 model 6 pakistan 6


DOCUMENT KEY POINTS

  • industry progress in pakistan year a cmeezan bank a cmeezan bank a cal baraka a cmeezan bank a cal baraka a cmeezan bank a cal baraka a cmeezan bank a cmcb a cal baraka a cmcb a cal baraka a cmcb a calfalah a cmcb a calfalah a cscb a calfalah a cbank alhabib a cscb a chmb a cbank alhabib a cbank of khyber a chabib ag zur
  • a csoneri bank a cmetropolitan i R currently there are full a cbank of khyber a chbl a cbank islami fledged islamic banks while a csoneri bank a cdib a cegibl i R full fledge banks having a c dawood and conventional banks a cnbp a cabn amro have saibbs a caskari a cubl i R total ib branches
  • islamic products and services offered by financial institutions around the world i R germany i R uae bank sepah i Rdubai islamic bank
  • i R countries have islamic banking institutions i R muslim countries including bahrain uae saudi arabia malaysia brunei and pakistan i R non muslim countries including usa uk canada switzerland south africa and australia
  • international overview i R the size of islamic financial industry has reached us bln
  • international overview i R in feb dow jones introduced the dow jones islamic market index djim of companies world wide whose business complies with islamic shariah laws i R at present there are more than islamic funds operational through out the world with a total fund base of over usd
  • billion
  • international overview i R governments of bahrain malaysia and now pakistan have issued islamic bonds sukuk in order to facilitate islamic banks in managing their liquidity
  • i R issuance of these bonds has also paved the way for shariah compliant government borrowings
  • international overview i R institutions like accounting and auditing organization for islamic financial institutions aaoifi and islamic finance services board ifsb have been formed
  • i R due to these collective efforts islamic banking is now recognized by imf world bank and basel committee
  • musharakah may be in any profit agreed ratio rs
  • partner a venture partner b rs
  • basic rules of bai i R bai on such product which is permissible in islam
  • i R not based on any incident struggle etc i R price must be clearly identified
  • it provides mutual protection and joint risk sharing in the event of a loss by one of its member
  • introduction takaful is the sharia compliant brand name for the islamic alternative to conventional insurance
  • from the holly quran i R the need for insurance is shown in the following verse of the quran
  • those of you who die and leave widows should bequeath for their widows a year s maintenance and residence
  • he asked the bedouin why don t you tie down your camel the bedouin answered i put my trust in allah swt
  • from the hadiths i R by anas bin malik one day prophet muhammad pbuh notced a bedouin leaving his camel without tying it
  • riba in insurance i R direct riba excess on one side in case of exchange between the amount of premium
  • i R indirect riba the interest earned on interest based investments
  • i R wakalah model an agency agreement is made between participants and operators on the basis of wakalah agency agreements i R wakalah based on waqf model the participant s donate the fund and operator charge an agency fee
  • different models of takaful i R pure mudarabah model the participants and operator enter into modarabah contract
  • holder mudarib s management wakalah investmen share of ptf s expense of profit loss fee t investment the income income company takaful operator investment by the company waqf operational claims cost of takaful investment reserves surplus retakaful income balance p a r t i c i p a n t s t a k a f u l f u n d p
  • wakala waqf model share share h o l d e r s f u n d s
  • i R the role of the shariah board is vital in meeting the specific demand of a public who would not insure otherwise
  • shariah compliance i R shariah compliance is an essential element in takaful
  • it is normally divided into following classes i R property takaful i R marine takaful i R motor takaful i R miscellaneous takaful
  • general takaful types i R general takaful a offers all kinds of non life risk coverage
  • bancatakaful i R background i R range of products i R savings a personal accident homeowners comprehensive credit cards etc
  • i R financing smes a trade credit takaful business office equipment assets
  • advantages of bancatakaful i R facilitation desk equipment
  • i R one stop shop for clients
  • retakaful i R currently few retakaful companies worldwide offering a relatively small capacity i R sudan national reinsurance
  • i R bahrain saudi arabia islamic insurance and reinsurance company
  • takaful pioneers i R takaful started some years ago in the middle east with the launching of two companies i R the islamic arab insurance co
  • of sudan i R but it took some time for the movement to take shape
  • i R this was instrumental in the successful launching of the takaful movement in malaysia and in other countries of south east asia
  • takaful pioneers i R later in malaysia played a pioneering role in setting the first legal framework specific to takaful takaful act
  • takaful operators i R the number of takaful operators worldwide is now estimated at i R takaful companies i R retakaful companies i R in countries
  • i R nona muslims increasingly opting for takaful products for commercial benefits
  • on average i R world takaful contributions are conservatively estimated at around us billions of which i R general takaful i R family takaful
  • takaful premium i R takaful is one of the fastest growing segments in insurance at around pa
  • takaful target market i R people who do not insure due to religious reasons
  • i R people who currently do not insure at all
  • i R a two digit growth in the range of to can be reasonably sustained for at least the next years in the existing markets far and middle east
  • billions of which around are based in asia and africa
  • i R personal lines insurance business leasing health medicare growing at a higher rate than other conventional classes
  • i R islamic banking on sound footing with support of the govt


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DOCUMENT WORD ANALYSIS

Main Category

AlHuda Material\islamic banking


KeyWords

islamic banks banking financial finance investment conventional institutions funds risk financing deposits assets services management international countries equity profit products


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DOCUMENT REFERENCES

Number of Pages

59


Published Date

2016-09-17 00:26:43


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