Fin concept

Islamic Financial System - Part 2 Hello, Friends!! 1. Introductions In part 1 of the Islamic Finance, we were introduced to the history of Islamic Finance and Growth of Islamic Finance. Now Let's Move to one step further to take a glance of Financial operation of Islamic System. 2. Key Principles of Islamic Finance: The Principles governing an Islamic Financial system was derived from the Sharia (Legal Framework). Sharia jurisprudence doesn't differentiate the principles of religious life and another aspect of life. There are 3 Main principles the govern an Islamic Financial System: Principle of Ownership/Authority, Principle of Equity & The principle of Participation. Lets discussed in details each one: 2.1 Principle of Ownership: The principle of Ownership refer as Rule "Do not sell what you do not own"   and "Y ou can not dispossess of the properties except on the basis of right" . Hence unlike other financial system...

Islamic Finance - Foundation Part # 1 Hello Friends!!! Islamic Finance is the means by which Corporate including banks and Financial institutions raise the finance in Muslim worlds in accordance with the Muslim/Islamic Laws. Islamic Finance is new branch of Financial System evolving as a strong foundation in modern monitory system. Nowadays Islamic Financial System getting greater recognition. 1. Golden Era of Islamic Civilization - The Early Muslims engaged in the Transactions based on Sharia and Islamic Economic Principles are found in the middle ages from the mid-7th Century to mid-13th century. Islamic Civilization in the world is 24% of total population in the year 2015. 2. Foundation of Islamic Finance: Islamic Finance is Newly established system of Finance. First Islamic Bank firmed in the year 1963 in Egypt "Mit Ghamr Saving Bank". In the Year 1970 -Oil Boom Rapids the Economic growth of Islamic Financial System. In Dubai, First Islamic ...