The Proposed Islamic Banking By Central Bank of Nigeria – The Way Forward 150 150

The Proposed Islamic Banking By Central Bank of Nigeria – The Way Forward

[ad_1] The Banking institution is a place where individuals or corporate organizations alike deposit their money for personal or business transactions for the purpose of savings, current or fixed transactions that would yield profit over a particular period of time. Nigeria as one of the growing economies of the world has taken the right step…

Introduction to Islamic Banking 150 150

Introduction to Islamic Banking

[ad_1] The most distinguishing feature of the Islamic economic system is the prohibition of interest. Islamic economic principles have prominently been applied in financial industry especially in banking. Islamic Finance is growing in multiple dimensions and is now spreading in other financial sectors like insurance, structured finance, project finance, mutual funds, syndicated finance, investment banking…

The Islamic Banking Model 150 150

The Islamic Banking Model

[ad_1] The origin of Islamic banking dates to the very beginning of Islam in the seventh century. The prophet Muhammad’s first wife, Khadija, was a merchant, and he acted as an agent for her business, using many of the same principles used in contemporary Islamic banking. In the Middle Ages, trade and business activity in…

Poverty Alleviation: An Aim Of Islamic Economics 150 150

Poverty Alleviation: An Aim Of Islamic Economics

[ad_1] Poverty is treated as WMD (weapon of mass destruction) of modern world. Eradication of it bears very importance. The economic systems like capitalism and communism have presented number of instruments for the alleviation of the poverty from the world. But, these extreme ideologies failed to satisfy the need of the people. Private ownership of…

Estate Planning for Muslims in Singapore Made Easy 150 150

Estate Planning for Muslims in Singapore Made Easy

[ad_1] The Wassiyah (Islamic Will) together with Estate planning for Muslims are not widely practiced. The common remarks made are:- “The Quran already specifies my asset distribution through Fara’id.” Or “No need to write a Will. There is Fara’id.” Muslims are encouraged to make an Islamic Will. “It is prescribed, when death approaches any of…

The Islamic Economic System 150 150

The Islamic Economic System

[ad_1] Interest-free Islamic economic system is partially followed and partially not followed in Muslim countries around the world. The only country, which has followed this system completely in every minute detail is Malaysia. So the application methods in this post are mostly those implemented in Malaysia following the Interest-free Islamic Economic system. The main feature…

What You Do Not Know About Masjid Jamek 150 150

What You Do Not Know About Masjid Jamek

[ad_1] Jamek, or Jumaat means Friday in the Malay language. It is significant because prayers are held every Friday afternoon. Prayers on Friday afternoons are as important to Muslims as Saturdays are to Jews, and Sundays are to Christians. Masjid, as you may have guessed, means mosque. There is a tourist counter on the left…

Where’s My Muse? 150 150

Where’s My Muse?

[ad_1] The word muse is related to the Latin word mens and the English mind. Centuries ago a poet had no books to hold his words, so he relied on his memory to tell his stories, which is how these beings were given the collective name Muse. Born in the village of Piera at the…

Islamic Prayer Times, Salat Time and Prayer Information 150 150

Islamic Prayer Times, Salat Time and Prayer Information

[ad_1] Prayer times refers to times when Muslims perform prayers. The term is primarily used for the five daily prayers plus the Friday prayer. According to Muslim beliefs, the salat times were taught by Allah to Muhammad. Salat times are standard for Islamic in the world, especially the prayer times. They depend on the condition…