McKinsey reports that Islamic Financial Institutions (IFI) is one of the fastest growing sectors at 20% growth per annum. IFI is distinguished from financial institutions in terms of its service and contribution towards social justice and wealth equality. In practice, the industry requires a framework that measures both divine and man-made risk and return. This is an introduction to “How Islamic is Your Bank” that proposed the qualitative and quantitative measures which are simplified into an indexing system based on Hukm’ Takflifi. Seeing the scope of this assignment, I have decided to produce a 3-part series, where part 1 focuses on unique Islamic performance ratio and indexing mechanism. Part 2 investigates in-depth breakdown of each contribution component and corresponding accounting recognition of these measurements according to all components of trade within the Quran, Sunnah and Fiqh. Part 3 applies the indexing onto the capital markets, sukuk and project valuation. Ultimately, we strive to build a model bank which leads to the resurgence of the Islamic banking sector, especially in regards to Salam Banking.
Week One material for Wealth Management course.
The information contained in this presentation is for illustrative and informational purposes only and should not be considered investment advice.
Week One material for Wealth Management course.
The information contained in this presentation is for illustrative and informational purposes only and should not be considered investment advice.
Boardroom dynamics continue to evolve and change in response to increased regulatory requirements, complex business environments, globalization, economic challenges, and shareholder activism. Whether your company is privately held, publicly traded, or a non-profit organization, our program will help you assess and strengthen your current leadership teams in today’s challenging business landscape.
This is the Summary of Why A students work for C students written by Robert Kiyosaki. This is Rich Dad's Guide to Financial Education for Parents. In this book, he teaches, how to become an Entrepreneur and a Capitalist, how to use other People's money and Talent. Good Debt and Bad Debt.
Watch the Video : https://www.youtube.com/watch?v=nDs4vGbrIG4&t=164s
I request everyone to download the slide and watch the presentation as it has many animations and transitions that are not being shown on slideshare.
AlHuda CIBE is going to organize "Two Days Specialized Training Workshop on Islamic Banking and Finance" on June 20 – 21, 2019 at London, United Kingdom
The purpose of this presentation is to study A Pioneer Islamic Bank that is considered One of the most important private commercial Islamic Banks since establishment.
The study will cover the various categories of services and activities undertaken by the bank as an Islamic financial intermediary.
This analysis, also, examines the relation between the theory of Islamic banking and the real practices and highlights the dichotomies, if any.
The name of the Bank has been left intentionally anonymous for reasons of privacy protection.
Boardroom dynamics continue to evolve and change in response to increased regulatory requirements, complex business environments, globalization, economic challenges, and shareholder activism. Whether your company is privately held, publicly traded, or a non-profit organization, our program will help you assess and strengthen your current leadership teams in today’s challenging business landscape.
This is the Summary of Why A students work for C students written by Robert Kiyosaki. This is Rich Dad's Guide to Financial Education for Parents. In this book, he teaches, how to become an Entrepreneur and a Capitalist, how to use other People's money and Talent. Good Debt and Bad Debt.
Watch the Video : https://www.youtube.com/watch?v=nDs4vGbrIG4&t=164s
I request everyone to download the slide and watch the presentation as it has many animations and transitions that are not being shown on slideshare.
AlHuda CIBE is going to organize "Two Days Specialized Training Workshop on Islamic Banking and Finance" on June 20 – 21, 2019 at London, United Kingdom
The purpose of this presentation is to study A Pioneer Islamic Bank that is considered One of the most important private commercial Islamic Banks since establishment.
The study will cover the various categories of services and activities undertaken by the bank as an Islamic financial intermediary.
This analysis, also, examines the relation between the theory of Islamic banking and the real practices and highlights the dichotomies, if any.
The name of the Bank has been left intentionally anonymous for reasons of privacy protection.
Introduction to islamic banking and conventional bankingYousuf Ibnul Hasan
Conventional Banking institutions are limited to the monetary affairs and to the monetary markets with a purpose to gain monetary benefits in rightly or wrongly.
Islamic Banks & Financial institution with Islamic norm and directive as define for the betterment of socioeconomic development as the benefit of the society, with commercial viability of the monetary affairs, ventures and transaction in gaining and disposal of basic need and resources.
We have presented a typical Business Model of a Direct Selling company. If you are interest to work in Direct selling and Referral based business. Contact at +91-9748354306
In every movie, at the end everything goes well and movie ends happily and if it didn’t, then... "Picture abhi baaki hai mere dost"
How happy we’ll be if our life turns out to be like a movie, no? But the truth is … Life is not a movie. We all know about the hardship and struggle of life. But YES, if we plan our finances and manage it properly then we can surly make the story of our life “Happy".
So where ever you are and in whatever condition, let's start planning our finance because."Picture abhi baaki hai mere dost...". We at financial Hospital is coming with a session on how to plan and where to find safe heaven for your finance. Read on to make yourself a super hero of your own life movie.
HDFC Equity Savings Fund - Better than FD ?aditya72
When you make your transition from Bank FD to a MutualFund, equity is not the right choice ! You should look for a Hybrid model, which can provide you the underline security of FD and also provide you the benefits of Equity in balanced manner.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
1. Prepared by,
Jessica Low Sher Peng
A150018 – Masters in Islamic Finance Practitioner
Handphone Line : +6010 8888825
Email : jls@makamincapal.com
ON A SCALE OF 1 to 10 :
HOW ISLAMIC IS YOUR BANK?
AC5023 Islamic Accounting with Dr. Bello Lawal
Master of Islam Finance in Practice (MIFP)
The Global University of Islamic Finance (INCEIF)
2. Syariah
Mandatory
and Permissibility
Profitability product
& service sales
Profitability from sales +
Impact on social
and ecology
1.Transparency
2.Efficient
3.Measurable
4.Ratio Benchmark
1. Zakat
2. Industry Screening (-ve)
3. Non-Interest bearing
1. Syariah Contracts
2. Risk and Return
EXCELLENCE = 10
BASELINE = 1
reference : Hukm’ Taklifi, Usl Fiqh
Wajib + Haram + Makruh + Mubah + Manduh
COMPLIANCE = 3
How Islamic is Your Bank :
Definition by degree in practice of Islamic doctrines and teachings
AC5023 Islamic Accounting with Dr. Bello Lawal
Jessica Low Sher Peng A150018
3. Q: WILL I NEED TO SPEND MORE?
A: Operating Expenses/Operating Income Ratio
TOWARDS EXCELLENCE
Question of Profit Maximisation
ASSUME THAT ALL STATUTORY REGULATIONS AND RESERVES RATIOS ARE MET
Q: WILL I MAKE LESS PROFIT ?
A : ROE and ROA, Dividends Per Share
4. Q: WILL I NEED TO SPEND MORE?
ASK: HOW DID I SPEND?
A: Operating Expenses/Operating Income Ratio, Zakat collection and areas of
Impact
TOWARDS EXCELLENCE
Question of Benefit Maximization
ASSUME THAT ALL STATUTORY REGULATIONS AND RESERVES RATIOS ARE MET
Q: WILL I MAKE LESS PROFIT ?
ASK : HOW DID I MAKE MY PROFIT?
A : ROE and ROA, Dividends Per Share, financing portfolio according to
economic sector
5. Baseline
0 - 1
Compliance
1.2 - 3
Social Ecology
0%
Loans
Culture
Arts
Zakat
Negative
Screening
Positive
Screening
Transparency
3.1 – 8
Standards
and Audit
Efficiency Expenses
8.1 - 9
Financial
Innovation
/
Reporting
9.1 - 10
Ehsan Indexing System
How Islamic is Your Bank? : 1 to 10 Scale
Boards Ratio
Earning
Spending
BASELINE
COMPLIANCE
EXCELLENCE
AC5023 Islamic Accounting with Dr. Bello Lawal
Jessica Low Sher Peng A150018
Interest
Bearing
Disclosure
0%
Interest
Bearing
Income
Industry Leadership
PSR /
LSR
C
S
R
S
E
1
0.
5
0.25
Syariah
Compliant
DJIM
Screening
6. Scarcity Darruriyah
Illustration of Indexing System
How Islamic is Your Bank : Operational Indicators
Abundance
AC5023 Islamic Accounting with Dr. Bello Lawal
Jessica Low Sher Peng A150018
Assets
Capital
Labor
Hajiyyah Tafsiniyyah
Commingling. Unclear
source of funds and
utilization
High RoE with low dividends
per share and depositors
PSR ratio
Above 50 Wealth income
equality ratio (CEO and
junior executive)
Below 10 Wealth income
equality ratio (CEO and
junior executive)
Between 10 to 50 Wealth
income equality ratio (CEO
and junior executive)
High RoE with High
Dividends per Share but low
depositors PSR ratio
High Gearing to Investment
Ratio
Low Gearing to Investment
Ratio
High RoE, Equal Dividends
per Share to depositors
PSR ratio
Risk / Return
Exposure
Fair
Redistribution
Wealth
Equality
Negative changes in performance 0 Positive changes in performance
7. WILL I NEED TO SPEND MORE?
WILL I MAKE LESS PROFIT?
MODEL COMPARISON BETWEEN TOP ISLAMIC AND TOP
SUSTAINABLE BANK
8. BANK SIMILARITY PROFILE
Bank
Name Dubai Islamic Bank Triodos Bank
Sector Islamic Banking Sustainable Banking
Establishment 1975 1980
Location UAE Netherlands
Asset Under
Management USD 40.1 b USD14 b
Reputation
The first Islamic bank in the
world. Top 5 establishments
The worlds top sustainable bank in the
world.
Presence
Standards
Applied
7 Countries
AAOIFI
Audited 2015 Statement KPMG
5 Countries
IAS G4 Reporting
Audited 2015 Statement PwC
Screening
Process
Syariah Compliant Both business and charities are valuated
on social or ecological benefit.
Table 1 : Comparison of bank similarity profiling for DIB and Triodos
9. Q: WILL I NEED TO SPEND MORE?
Triodos : 0.28
Inclusive of all social benefactor
payable 24% USD140mil
DIB : 2.266
Revised* inclusive all zakat
payable 2% USD59mil
Highlights
Operating Income/Operating Expense Ratio
An Expenses charged
immediately as part of PNL for
social benefit reflect true social
inclusion
A Percentage charged to
income and transferred from
zakat payable to DIB
Foundation for utlization
How did I spend?
Yes.
10. Q: WHERE?
DIB : $59M out of $2984M
Exhaustive redistribution of
collection is necessary. Only 63%
was used 2015
Highlights
DIB Zakat Contributions
Issues : Used $37 or 63%.
What happens to the balance?
Missing transparency of fund
utilization. The zakat
management transferred to DIB
Foundation. Weightage of
programs undetermined.
11. Q: WHERE?
TRIODOS : $142 out of $581
Since it was expensed out,
then 100% funds were utilised
for the given benefit
Highlights
TRIODOS Social Contributions
(Quantitative)
Issues : Impact cannot be
quantified but qualified. It
cannot be standardized as it is
based on localization
12. Q: WHERE?
TRIODOS : Transparency of reporting
and ease in understanding for profit +
impact social and ecological total
expensed = $
Highlights
TRIODOS Social Contributions
(Qualitative)
Environmental Report
Green Energy
Organic Food
Co- Workers Report
Elderly Care
Microfinance Borrowers and Savers
Progressive Education
Cultural Visits
13. WILL I MAKE LESS PROFIT ?
Highlights
DIB :
Net Profit $1037mil
ROE 17%
ROA 2.56%
Dividends Per Share $0.11
Iwad is measured. Capitalising
equity and not paying
dividends fairly. Possibility
risk-transfer between manager
and owner too?
TRIODOS :
Net Profit $46.4mil
ROE 5%
ROA 0.5%
Dividends Per Share $2.73
Risk and Return sharing is
evident. Equal amount where
treatment is called Fair Equity
Value. Treatment of
Note Triodos maintains high dividend per share. shareholder as a
benefactor for contributions. Similar to takaful concept of profit and
surplus sharing
No.
14. Highlights
WHERE ? Negative and Positive Screening Process
Financing portfolio only reflects Syariah
screening. Fail to reflect any pillars of Maqasid
Al-Syariah
Deen, Nafs, Aql, Progeny, Wealth
Financing portfolio reflects screening
process and distinctive value-based
banking : People, Planet, Profit
Note :Investment - Energy, Climate, Emerging Markets, Real Estate, Art and Culture, Sustainable Food and Agriculture, SRI
15. Scarcity Darruriyah
Illustration of Indexing System
How Islamic is Your Bank : Operational Indicators
Abundance
AC5023 Islamic Accounting with Dr. Bello Lawal
Jessica Low Sher Peng A150018
Assets
Capital
Labor
Hajiyyah Tafsiniyyah
Commingling. Unclear
source of funds and
utilization
High Dividends per Share to
depositors PSR ratio
Above 50 Wealth income
equality ratio (CEO and
junior executive)
Below 10 Wealth income
equality ratio (CEO and
junior executive)
Between 10 to 50 Wealth
income equality ratio (CEO
and junior executive)
High Dividends per Share to
depositors PSR ratio
High Gearing to Investment
Ratio
Low Gearing to Investment
Ratio
Equal Dividends per Share
to depositors PSR ratio
Risk / Return
Exposure
Fair
Redistribution
Wealth
Equality
Negative Changes in performance 0 Positive Changes in performance
DIB
3.4
Triodos
9.1
16. Prepared by,
Jessica Low Sher Peng
A150018 – Masters in Islamic Finance Practitioner
Handphone Line : +6010 8888825
AC5023 Islamic Accounting with Dr. Bello Lawal
Master of Islam Finance in Practice (MIFP)
The Global University of Islamic Finance (INCEIF)
ON A SCALE OF 1 to 10 :
HOW ISLAMIC IS YOUR BANK?
Share your answer : sherpeng@gmail.com
Editor's Notes
So the question is really about the cost and profitability price. Does it cost more to move from baseline to excellence? Lets examine
So the question is really about the cost and profitability price. Does it cost more to move from baseline to excellence? Lets examine