All the Islamic financial contracts that are dominantly in practice are actually based on promise not sale contracts and by its nature a promise is non-binding but due to prudential requirements it is treated as binding.
Financial infrastructure comprises of the resources, public policy support, protection, facilities and utilities that make the use of the financial architecture beneficial for developing an inclusive, dynamic and resilient financial system.
Financial infrastructure comprises of the resources, public policy support, protection, facilities and utilities that make the use of the financial architecture beneficial for developing an inclusive, dynamic and resilient financial system.
The 2012 Capital Markets Conference, organised by the QCB and the IMF in the Ritz Carlton Hotel Doha dated 18-19, September 2012
Reference - http://www.gsdp.gov.qa/portal/page/portal/gsdp_en/media_center/events_activities/capital_markets_conference_2012/Tab1/18Sep_Session04_TKhan.pdf
Financial architecture comprises of the globally acceptable core principles,best practice guidelines and standards that are need for the inclusiveness, effectiveness, resilience and sustainability of the financial system.
Sale buyback (bai' al I'na) and buy sale-back (tawaruq) are often confused and most independent Shariah councils/boards strongly recommend to avoid these rather fictitious legal tricks.
Islamic profit rate swap - exchange of the mark-up of a long dated fixed rate Murabahah contract with the LIBOR rate underlying a series of smaller Murabahahs corresponding to the date of installment payments on the fixed rate long dated contract.
Estimates of assets of islamic financial services industryTariqullah Khan
In 2013 the size of Islamic finance assets are estimated to be $ 1.5 trillion to $ 2.1 trillion depending on 10% annual growth and 15% annual growth assumptions.
Tabungan 2 in 1 Prudential berguna untuk melindungi keuangan Anda agar dana yang anda kumpulkan selama ini tidak habis karena kejadian yang tidak terduga. Umumn
Over the last 4 billion years known history of earth, nature has not wasted even one drop of water. We can learn from nature and try to establish zero-waste compassionate circular free market economies. Islamic finance must play a central role in such a transformation.
Science has learnt from natural laws tremendously; nature doesn't waste but economics is build around a paradigm of extract, produce, use and waste. A zero-waste circular economy paradigm will be consistent with natural laws and offers hopes for a sustainable world. We discuss the various aspects of this optimistic prospect.
Global Digital Sukuk (GDS) - A basic frameworkTariqullah Khan
GDS is a suggested digital Sukuk based on the idea of Bitcoin, but is proposed to be a registered and regulated digital(crypto)-asset as a perpetual Mudharabah issued on Public Blockchain by a credible SDGs oriented entity based on the entity’s overall balance sheet strength. The keywords are:
a. Digital(Crypto)-asset that is registered and regulated
b. On Public Blockchain
c. Perpetual Mudharabah Sukuk
d. Based on the overall balance sheet strength of the issuer
e. The issuer is a SDGs oriented business entity having track record of issuing Sukuk.
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
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
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
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
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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
3. first introduced by the Hanafi jurist,
Imam Abu Yousuf (d.798) as the
Chief judge (qadi al-qudat) during
Harun al Rashid’s reign in context of
an Istisna’ contract
The Binding
Promise
4. The Promise Background
for a valid sale
contract, either the
object of sale or its
price may be absent
at the time of
contract but both
cannot be absent
object deferred sale
& price deferred sale
(prepaid & post paid
sales) are valid
But sale where both
price and object are
deferred is an invalid
sale
5. Price deferred
Sale
Object
deferred Sale
Selling an asset that
exists in the balance
sheet for a price that
will be paid in future
– Bai’ bithaman
aajil - BBA
Selling an asset
that doesn’t exist
in the balance
sheet for a price
that is paid now –
Salam sale
Creating demand Creating supply
7. Creating supply
A4 Size
Paper
with a
logo
Plain
A4 Size
Paper
In both cases
the object of
sale is not
present, thus
price must be
paid in advance
for a valid sale
contract
Istisna’
Sale
Salam
Sale
8. Hence Istisna’ is a sub-
set of Salam because due
to the nonexistence of
the object of sale, the
price must be paid in
advance to make the
contract valid
9. But what if the potential
buyer in Istisna’ is short of
cash and needs financing?
Consensus: In
this case no valid
sale contract is
possible
Imam Abu
Yousuf: if not sale
contract make it
binding promise
10. The Binding Promise
in Istisna’
For Istisna’, first introduced by the Hanafi jurist,
Imam Abu Yousuf (d.798) as the Chief judge (qadi al-
qudat) during the Harun al Rashid’s reign
View of Imam Abu Yousuf is adopted by
- The Majalah al-Ahkam al-Adliyah, the Ottoman
Codification of Islamic Law
- The OIC Fiqh Academy
- The IDB Shariah Board
- The AAOIF Shariah Board
11. MPO Binding Promise
In financial Murabahah (murabahah for
purchase order -MPO), the bank is selling on
credit an asset that doesn't exist in its
balance sheet
There could not be a valid sale contract as price is
deferred and object doesn’t exist, the MPO starts
as a non-binding promise with an option to
inspect
However, for prudential reasons, the AAOIFI and
IFSB standards adopt MPO as binding promise
12. Promise in Ijarah
In Ijarah also the bank doesn’t posses
the asset to be leased on its balance
sheet, buys the asset like in MPO
based on promise by the client to lease
and rents to the client as operating
lease or as lease ending in ownership
for the client
13. Promise in DM
In Declining Musharakah
(DM), the client promises to
buy the shares of the bank
subject to the market prices that
will prevail at the time of each
purchase
14. Promise in Sukuk
In Ijarah Sukuk, the originator
promises to repurchase the
Sukuk assets on the initial price
at the time of maturity of the
contracts
15. Promise in Swap
In a fixed to floating rate profit
swap, one party promises to sell a
commodity in an equal series of
Murabahah sale contracts
synchronizing with the installment
payments on a long dated fixed rate
Murabahah
16. Reciprocal Promise in
FX Swap
In a foreign exchange swap, both
parties make mutual promise for
future series of exchanges of two
currencies on rates prevailing at the
promise date
17. Pitfall of Promise
Without any exception, all the
financial sales on which Islamic
banking is based are in fact
promises not sales or we can say
that the valid sale contracts have
been replaced by a promise
18. Sale not what you don’t
posses has conveniently
been replaced by a
promise which simply
circumvents a genuine and
valid sale contract