1) Pakistan was one of the first countries to implement Islamic banking in the 1960s and 1970s, with the founder of Pakistan calling for an Islamic banking system when establishing the State Bank of Pakistan in 1948.
2) Egypt started the first modern Islamic bank, called Mit Ghamr Savings Bank, in 1963 based on profit-sharing principles without interest. It succeeded in attracting many depositors and financing local projects until being shut down for political reasons in 1967.
3) Malaysia established Tabung Haji in 1962 as the first Islamic bank in Asia to help Muslims save for the hajj pilgrimage, and it remains an important Islamic financial institution today.
ISLAMIC BANKING AND FINANCE: MALAYSIA’S EXPERIENCE AND ACHIEVEMENTSbrighteyes
ISLAMIC BANKING AND FINANCE: MALAYSIA’S EXPERIENCE AND ACHIEVEMENTS 13 June 2006
Victoria University of Wellington
Presented by:
Bakarudin Ishak
Director
Islamic Banking and Takaful Department Bank Negara Malaysia
lThis presentation includes the historical background of steps taken to implement Islamic Financial system in Pakistan. it also highlights the current challenges, probems and solutions
ISLAMIC BANKING AND FINANCE: MALAYSIA’S EXPERIENCE AND ACHIEVEMENTSbrighteyes
ISLAMIC BANKING AND FINANCE: MALAYSIA’S EXPERIENCE AND ACHIEVEMENTS 13 June 2006
Victoria University of Wellington
Presented by:
Bakarudin Ishak
Director
Islamic Banking and Takaful Department Bank Negara Malaysia
lThis presentation includes the historical background of steps taken to implement Islamic Financial system in Pakistan. it also highlights the current challenges, probems and solutions
Islamic Banking: Inclusion in the Indian Banking SectorIOSR Journals
Innumerable changes have been witnessed in the Indian banking sector since last six decades. Various generations of financial sector reforms has changed the face and complexion of the Indian Banking Sector which is adopting various innovative practices with the focus on inclusive growth. Islamic banking is one such practice which is being considered in full fledged manner which otherwise has been practiced in an informal way. Islamic banking has set its foot on the path of rapid growth throughout the globe and India could not be isolated from it, looking at immense potential. The 1st Ernst & Young World Islamic Banking Competitiveness Report 2011 presented at the 18th Annual World Islamic Banking Conference stated that Islamic banking assets with commercial banks globally will reach US$1.1 trillion in 2012, a significant jump of 33% from their 2010 level of US$826 billion. The conventional banking as practiced by the Indian banking sector in its present form does stand in the way of the principles of Islamic banking which prohibits transaction on the basis of interest and operate on profit and loss based on Islamic principles. Introduction of interest free banking will require a lot of changes in the Banking Regulation Act.
Globally, the ship finance sector is facing one of the worst crises in terms of getting finances for their projects. Shipping companies are finding it tough to get conventional bank financing due to strained liquidity and tight credit conditions. The ship finance sector is facing one of its darkest times. Historically, ship finance was undertaken by International Conventional Banks and these banks have been hit so hard that a few of them may face bankruptcy. Despite the gloomy outlook for the global economy which has affected the entire industry and projections that depict the recovery of the global economy as an “L-shaped” rather than a “V-shaped” curve. The shipping sector has had seven huge years before “falling off a cliff” due to the global credit crisis. Banks in the region are still reluctant to lent money, and as long as banks don\'t start lending the shipping business is not going to go up. Banks are sitting on the debts of poor performing companies and have not been quick to enforce their rights. 2009 was a year when facilities were amended and defaults waived which is happening throughout the world. The question remains to be seen as to whether or not there is sufficient equity within the shipping sector to keep the ship owners going over the coming year or whether we are experiencing a \'W\' type of recessionary curve with the second downward part of the curve to hit the markets in 2010. Considering all above issues with the conventional banking system to support the shipping industry moving, Islamic finance is emerging as a credible alternative source of ship finance.
Presentation by Amirul HM & Penny Siew at the Asia-Europe Institute - University of Malaya for "Financial & Accounting Ratios for SMEs" subject, IMSME Programme. 2009.
Analysis of Islamic Financial System in the Global Market: And Entry in Indiaiosrjce
Islamic finance has grown rapidly, even though it is still a small share of the global financial market.
The Islamic banking segment has increased its penetration in many countries. It has became systematically
important in Asia and Middle east, while the global issuance of Sukuk- the Islamic equivalent of bonds- is
expanding with remarkable international reach of issuers and investors. This trend is expected to continue,
driven, in particular, by strong economic growth in countries with large and relatively unbanked, Muslim
populations. The Islamic finance industry offers important potential benefits, the IMF stated in its IMF Research
June 15 bulletin.
Islamic Banking: Inclusion in the Indian Banking SectorIOSR Journals
Innumerable changes have been witnessed in the Indian banking sector since last six decades. Various generations of financial sector reforms has changed the face and complexion of the Indian Banking Sector which is adopting various innovative practices with the focus on inclusive growth. Islamic banking is one such practice which is being considered in full fledged manner which otherwise has been practiced in an informal way. Islamic banking has set its foot on the path of rapid growth throughout the globe and India could not be isolated from it, looking at immense potential. The 1st Ernst & Young World Islamic Banking Competitiveness Report 2011 presented at the 18th Annual World Islamic Banking Conference stated that Islamic banking assets with commercial banks globally will reach US$1.1 trillion in 2012, a significant jump of 33% from their 2010 level of US$826 billion. The conventional banking as practiced by the Indian banking sector in its present form does stand in the way of the principles of Islamic banking which prohibits transaction on the basis of interest and operate on profit and loss based on Islamic principles. Introduction of interest free banking will require a lot of changes in the Banking Regulation Act.
Globally, the ship finance sector is facing one of the worst crises in terms of getting finances for their projects. Shipping companies are finding it tough to get conventional bank financing due to strained liquidity and tight credit conditions. The ship finance sector is facing one of its darkest times. Historically, ship finance was undertaken by International Conventional Banks and these banks have been hit so hard that a few of them may face bankruptcy. Despite the gloomy outlook for the global economy which has affected the entire industry and projections that depict the recovery of the global economy as an “L-shaped” rather than a “V-shaped” curve. The shipping sector has had seven huge years before “falling off a cliff” due to the global credit crisis. Banks in the region are still reluctant to lent money, and as long as banks don\'t start lending the shipping business is not going to go up. Banks are sitting on the debts of poor performing companies and have not been quick to enforce their rights. 2009 was a year when facilities were amended and defaults waived which is happening throughout the world. The question remains to be seen as to whether or not there is sufficient equity within the shipping sector to keep the ship owners going over the coming year or whether we are experiencing a \'W\' type of recessionary curve with the second downward part of the curve to hit the markets in 2010. Considering all above issues with the conventional banking system to support the shipping industry moving, Islamic finance is emerging as a credible alternative source of ship finance.
Presentation by Amirul HM & Penny Siew at the Asia-Europe Institute - University of Malaya for "Financial & Accounting Ratios for SMEs" subject, IMSME Programme. 2009.
Analysis of Islamic Financial System in the Global Market: And Entry in Indiaiosrjce
Islamic finance has grown rapidly, even though it is still a small share of the global financial market.
The Islamic banking segment has increased its penetration in many countries. It has became systematically
important in Asia and Middle east, while the global issuance of Sukuk- the Islamic equivalent of bonds- is
expanding with remarkable international reach of issuers and investors. This trend is expected to continue,
driven, in particular, by strong economic growth in countries with large and relatively unbanked, Muslim
populations. The Islamic finance industry offers important potential benefits, the IMF stated in its IMF Research
June 15 bulletin.
A comparative study on islamic banking in bangladesh by ShahinMd. Shahinuzzaman
A banking system that is based on the principles of Islamic law (also known Shariah) and guided by Islamic economics. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. Collecting interest is not permitted under Islamic law. Where the conventional banking follows conventional interest-based principle.
The History of Islamic Bank - Chap 1 (Islamic Banking)Izzuddin Norrahman
This is the first chapter of Islamic Banking course (FAB 1233), Astin College, Puchong. Using the book of Islamic Finance and Banking system by Sudin Haron and Wan Nursofiza Wan Azmi as the main reference.
What is Riba ? The meaning of riba ?
Why Riba is harram?
Introduction of Islamic Banking:
Timeline review of establishment of Islamic finance system
History of Islamic banking in pakistan
Zia Ul Haq interest free islamic banking
How can we avoid riba?
conclusion
Details about the Islamic banking system in Pakistan and give an overview of Islamic banking in any Islamic country. It gives some help for the fresh students to learn about Islamic banking.
LAW AND PRACTICE RELATING TO CODE OF CIVIL AND ADMINISTRATIVE PROCEDURE IN AL...صالح الدين عزيز
Over fourteen centuries ago, ADR methods have been used by Muslims to settle their differences amicably and these methods have been mentioned and encouraged in the sources of Islamic sharia.
Algerian legislator has introduced these alternatives, in an effort to reduce the size of the disputes which have become tired of judges and affect the yield qualitative judgments.
It also was intended to prompt settlement of disputes and avoid prolonging the introduction and respond to appeals and alternative ways by sulh and mediation as the precious traditions.
INTRODUCTION
قال جلّ ذكره: ﭧ ﭨ ﭽ ﯦ ﯧ ﯨ ﯩ ﯪ ﯫ ﯬ ﯭ ﯮ ﯯ ﯰﯱ ﯲ ﯳ ﯴ ﯵ ﯶ ﭼ النساء: ١٠٥ [النساء: 105].
ALLAH - the Almighty said (meaning) "surely, we have sent down to you (O Mohamed SAW) the book(this Qur'an) in truth that you might judge between men by that which ALLAH has shown you, so bee not a pleader for the treacherous."
Allah honoured this nation (الأمة), by a full and total legislation, this was since its first existence, it and it was the cause of her advancement of abysses defaults to the highest degree of progress in record time. While the other nations proceed in her legislation by the precedents and experiences in a series of evolutionary open endless, the basis of which the whole of the human mind.
The importance of the subject stand in that many of the intellectuals as well as others do not know that the basis of the law of Napoleon ( their Miracle!) Is derived in most of its assets and explanation of the doctrine of Imam Malik - may God have mercy on him –. On that day were southern Europe in Spain and Portugal (Paradise Lost) under the enlightened Islamic law (and we ask God to his return to the fold of Islam). That day throughout Europe were in ignorance and darkness, and question them in the ranking of women: they are of human or otherwise?
David described (the senior professor of comparative law in France in 1966 ), in his book (Large systems contemporary law); that Islamic law is one of the great major systems in the modern world.
THE REVOLUTION BETWEEN LEGITIMACY AND HISTORY:
INTRODUCTION:
The Muslim state in general and the Arabic one in particular, is undergoing upheavals through the revolutions or nicknamed the Arab Spring! That obliges us to on reflection and study of this phenomenon differently with an analytical mind, based on the principles of Sharia and its consequences (المآلات).
All these reasons lead us to recommendations that illuminate our path to avoid failures and not make the same mistakes again. We must not forget that this phenomenon has been planned since the time of reasonable khelafa ( الراشدة ), passer-by the Ottoman Empire ( الخلافة العثمانية ) and until today, all have forgotten the valuable advice which we left us our prophet ( SAAW ) at the end of his last discourse ; in the hadeeth of ibn abass(RAA) , recited by El bukahri :
He said," Your blood, your properties, and your honor are sacred to one another like the sanctity of this day of yours, in this (sacred) town (Mecca) of yours, in this month of yours.'....It is incumbent upon those who are present to convey this information to those who are absent, Beware don't renegade (as) disbelievers (turn into infidels) after me, Striking the necks (cutting the throats) of one another.' "
فَإِنَّ دِمَاءَكُمْ وَأَمْوَالَكُمْ وَأَعْرَاضَكُمْ عَلَيْكُمْ حَرَامٌ، كَحُرْمَةِ يَوْمِكُمْ هَذَا، فِي بَلَدِكُمْ هَذَا فِي شَهْرِكُمْ هَذَا .... فَلْيُبْلِغِ الشَّاهِدُ الْغَائِبَ، لاَ تَرْجِعُوا بَعْدِي كُفَّارًا يَضْرِبُ بَعْضُكُمْ رِقَابَ بَعْضٍ ".
PROBLEMATIC:
We have two main questions:
*The voices of changing of the actual situation are they limited only by the Holy Quran and the Sunnah of the Prophet (SAAW) or by Ijtihad?
* The revolutions it is treated under the way of legislative politic (siyasah syar'iyyah) or ordinary politic (Siyasah wadh'iya)?
The Muslim's world and especially Arabic; passes under resonant slogans!: Reconciliation, freedom, democracy.. With dangerous doctrinal and geographical changes, encouraged by foreign enemies and supported by the inattention of the people inside. These changes became a real phenomenon that should be studied by specialists (great scholars and researchers) and not by the journalists and the political analyzers, preachers.... Allah says (meaning): ((And when there comes to them information about [public] security or fear, they spread it around. But if they had referred it back to the Messenger or to those of authority among them, then the ones who [can] draw correct conclusions from it would have known about it. And if not for the favor of Allah upon you and His mercy, you would have followed Satan, except for a few.)) [4.83]
The serious issue in this situation, is that the scholars (ulama)! In general; they didn’t play their role in understanding and guidance. Although the contrary, many of them encourage this revolution! Basing on imaginary results (building the state of khalif)(إقامة الخلافة ), neglecting the worst consequences.
This article provides a review of institutions involved in the administration of Islamic affairs in Algeria. It discusses briefly the historical background of the law in Algeria. This article also seeks to provide a general overview of the introduction and applicability of Muslim law in Algeria, from the colonial administration of the French to the contemporary period. The first institution that this article will consider is the Ministry of religious affairs that is responsible for administering Islamic affairs and organizing the religious observances including administration of Zakat, Wakaf, Masjid, Hajj and Umrah. The Supreme Islamic Council, as a national body, contributes in Issuing fatwas, the development of correct Islamic culture and the development of Islamic thought.
Keywords: Administration of Islamic affairs, Islamic law, Ministry of religious affairs, Supreme Islamic Council
مواليد 28 يناير 1942م
شارك في الحرب التحريرية في ريعان فتوته.
التحق بكلية الآداب واللغة العربية 1966م
شغل معلم ثم استاذ بكلية العلوم الاسلامية(السيرة, التفسير)
شغل مدير مركز التعريب بالجامعة المركزية بالعاصمة سنة 1975
شغل في مجال الدعوة والتربية وعرف بمعارضته الشديدة للتيار الفركنكفوني والاشتراكي الماركسي.
حكم عليه 15 سنة في أحداث 1975 م لمعارضتة النظام الاشتراكي.
انشأ جمعية الارشاد والاصلاح 1988م
ترأس حزب حركة المجتمع الاسلامي 1991م الذي تحول الى حركة مجتمع السلم.
وفاته يونيو 2003 م .
نحو القرآن التدبري الحركي: المدرسة الباديسية (نموذجا)صالح الدين عزيز
وقال إيميل كومب ( Combes emile) وهو يصف حالة التعليم العربي قبل القرن 19 في تقرير قدمه إلى مجلس الشيوخ الفرنسي في 2 فيفري 1894: كان التعليم العالي في أرض الجزائر يشتمل جمهورا غفيرا من الناس المتعطشين للعلم والمعرفة يجلسون حول شيوخ علماء لا يتلقون عنهم علوم الشريعة وقوانينها فحسب، بل يتلقون أيضا علوم الرياضيات، الآداب والهيئة. فكانت نتيجة انتصار أسلحتنا أن تفرق الشيوخ و اضمحل التعليم العالي.
فقد كتب الجنرال فالز سنة 1834م بأن كل العرب (الجزائريين) تقريبًا يعرفون القراءة والكتابة، حيث إن هناك مدرستين في كل قرية...
أما الأستاذ ديميري، الذي درس طويلاً الحياة الجزائرية في القرن التاسع عشر، فقد أشار إلى أنه قد كان في قسنطينة وحدها قبل الاحتلال خمسة وثلاثون مسجدًا(35) تستعمل كمراكز للتعليم، كما أن هناك سبع مدارس(7) ابتدائية وثانوية يحضرها بين ستمائة وتسعمائة طالب(600-900)، ويدرّس فيها أساتذة محترمون لهم أجور عالية .
وقد أحصيت المدارس في الجزائر سنة 1830م، بأكثر من ألفي مدرسة (2000)ما بين ابتدائية وثانوية وعالية.
وكتب الرحالة الألماني (فيلهلم شيمبرا) حين زار الجزائر في شهر ديسمبر 1831م، يقول: (لقد بحثتُ قصدًا عن عربي واحد في الجزائر يجهل القراءة والكتابة، غير أني لم أعثر عليه، في حين أني وجدت ذلك في بلدان جنوب أوروبا، فقلما يصادف المرء هناك من يستطيع القراءة من بين أفراد الشعب).. وخير المثال ما شهد به الأعداء.
Administration of Islamic affairs(waqf/endowments, hajj, zakat, mosque..) in...صالح الدين عزيز
Islam is a comprehensive way of all details in our life, which covers all aspect of human life and activities including the administration of organization or institution .
In Islam, the administration plays the main role for the success of muslims’ organization. the Islamic principles in administration provide a more comprehensive system as they incorporate both moral and spiritual dimensions.
The basic principles of Islamic administration are extracted from the primary and secondary sources of shariah.
Islamic principles of administration do not merely serve as a concept or theoretical aspect in the Islamic administration but rather as a very practical tool in serving the needs of any organization in facing the challenges of this new globalization era.
In Algeria the vast majority of citizens are Sunni Muslims belonging to Maliki school of jurisprudence . resident Christians, numbering less than 1% of the population, are mainly foreigners.
Islam was first brought to Algeria (Algeria was known as middle maghreb) by the Umayyad dynasty following the Islamic conquests by Uqba ibn Nafi (62H/ seventh century).
Algerian state was founded in 1516 by two brothers Khaireddin and aruj barbarus(origins of turk).at the stage the islamic affairs ruled by the Ottomans empire.
The basic components of the identity of Algerian people are Islam, Arabite and berberite.
Algeria now is a republic of western North Africa with a population of 35 million. It is the second largest country in Africa in terms of area (2381741 square KM) .
The French Colonial period 1830-1962.
The war of independence which culminated the end of 132 years of struggle against one of the most cruel colonization projects in history.
Islam is a comprehensive way of all details in our life, which covers all aspect of human life and activities including the administration of organization or institution .
In Islam, the administration plays the main role for the success of muslims’ organization. the Islamic principles in administration provide a more comprehensive system as they incorporate both moral and spiritual dimensions.
The basic principles of Islamic administration are extracted from the primary and secondary sources of shariah.
Islamic principles of administration do not merely serve as a concept or theoretical aspect in the Islamic administration but rather as a very practical tool in serving the needs of any organization in facing the challenges of this new globalization era.
Over fourteen centuries ago, ADR methods have been used by Muslims to settle their differences amicably and these methods have been mentioned and encouraged in the sources of Islamic sharia.
Algerian legislator has introduced these alternatives, in an effort to reduce the size of the disputes which have become tired of judges and affect the yield qualitative judgments.
It also was intended to prompt settlement of disputes and avoid prolonging the introduction and respond to appeals and alternative ways by sulh and mediation as the precious traditions.
Hibah-rukba is one part of hibah which has been practiced during jahiliyyah period.
They observe the death of the hibah's receipient to take back their hibah. Then when Islamic Shariah comes into existence, it affirms the hibah concept and disregards the condition of returning the hibah to the donor because He who takes back his present is like him who swallows his vomit.
But If the donor clearly mentioned the donation is for the donee during his life time, in this case, it becomes 'ariyah which must be return to the donor because the Muslims are obliged to follow their conditions.
Hibah-rukba is one part of hibah which has been practiced during jahiliyyah period.
They observe the death of the hibah's receipient to take back their hibah. Then when Islamic Shariah comes into existence, it affirms the hibah concept and disregards the condition of returning the hibah to the donor because He who takes back his present is like him who swallows his vomit.
But If the donor clearly mentioned the donation is for the donee during his life time, in this case, it becomes 'ariyah which must be return to the donor because the Muslims are obliged to follow their conditions.
APPLICATION OF THE MAXIM :’’ HARM MAY NEITHER BE INFLICTED NOR BE RECIPROCATE...صالح الدين عزيز
So the term "revolution" often revolves around the excitement, revenge , violence, and the violent change was observed since the first revolution in Islamic history against Ottoman caliph (RAA) and other revolutions that followed after
The revolution bring the real, big and illegal harm .
Shaikh ibn uthaimeen says: I advise you to listen the cassettes of the scholars who are known for uprightness and integrity (I’tidaal), and who are not known for revolutionary ideology.
The primary objectives of the sharia is the realization of benefit to the people, concerning to their affairs both in this world and the hereafter.
Al-darar that needs to be eliminated here is the one that is clear , excessive, general or specific if possible.
This hadith/maxim include the protection of the five necessities(AL-DARURIYYAT) which are :protection of al-dine, life, dignity, intellect and of property.
In case of negligence , it will lead us to the total disruption and disorder and it could lead to evil ending
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.
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
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
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.
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
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@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
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
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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1. Revisiting the modern history of Islamic finance: A Theoretical
Analysis of the Pakistani,
Egyptian and Malaysian Experience
Presented by salah eddine youcef aziez
El Bessami
LAW CENTRE
2. Abstract:
قال رسول الله- صلى الله عليه وسلم :" من سن في الإسلام سنة حسنة فله أجرها وأجر من عمل بها
من بعده من غير أن ينقص من أجورهم شيء،...." رواه مسلم عن جرير-ض-
The Messenger of Allah- S.A.W- says: "whosoever introduces a good practice in Islam, there is
from him its reward and the reward of those who act upon it after him without anything being
diminished from there rewards" Narrated by Muslim from jarir- R.A.A-After
the fall of the Islamic empire (Ottoman) the Islamic world has lived far in the application
of Islamic finance until 1963 when the trial began in Egypt, then Pakisan, Malaysia ...
"Today (according to the author1) the Islamic finance has spread around the world, now
there are about 300 financial institution that operates under Islamic law, with an
approximate fund 200 billion $distributed to more than 50 countries around
the world with .. age not more than three decades "
Currently; Islamic finance has been growing at a rate of 10-15%per year, with signs of future
growth , more than 300 banks in 51 countries, over 822 billion $of Islamic assets are managed
by banks in accordance with the principle of Shariah.
Currently, Islamic finance is the fastest growing global financial system.
-------------------------------------
1Dr. Mamed mahmud al mikkawi in his book: البنوك الاسلامية ,النشأة التمويل التطوير
3. Introduction
The first modern experience of implementation of Islamic banking system in 1963 was
undertaken in Egypt, in the form of a savings bank based on profit-sharing in the Egyptian
town of Mit Ghamr.
By the early 1970s the institutions are involved increasingly in Islamic economics.,Which
becomes a cornerstone of state-building.
Conference of Finance Ministers of the Islamic countries, in Karachi in 1970,
Egyptian study in 1972,
First International Conference on Islamic Economics in Mecca in 1976,
international economic conference in London in 1977 ...
The involvement of institutions and governments led to the application of theory to practice
and resulted in the creation of the first legal bank : The Islamic Development Bank (IDB)
(Arabic: البنك الإسلامي للتنمية ) , an inter-governmental bank located in Jeddah, Saudi Arabia.
It was founded in 1973 and began its activities on 20 October 1975. After, in the same year:
Dubai Islamic Bank in the UAE....
4. Revisiting the modern history of Islamic finance
Theoretical Analysis of the Pakistani
Pakistan was among the first three countries of the world that had been trying to implement
interest-free banking at national level.
Brief historical
chronology
In late 1940, many scholars called for to establish Islamic banks in Pakistan.
Such as Mohammad Nasim, and Anwar Qureshi, and Abul Ala Maududi..
In May, 1948 Muhammad Ali Jinnah (Founder of Pakistan) took steps to establish the State
Bank of Pakistan immediately (SBP; Urdu: بینک دولت پاکستان ) . These were implemented in
June 1948,and has commenced operation on July 1, 1948, and on the occasion of the opening
of the State Bank of Pakistan(SBP) announced the Islamization of Pakistani banking system
5. Muhammad Ali Jinnah, the founder of Pakistan, making
a speech at the opening of the State Bank of Pakistan.
Who is Muhammad Ali Jinnah ?
Mohamed ali Jinnah ( 25 /12/ 1876 – 11 /09/ 1948) was a lawyer, politician, and
the founder of Pakistan. Pakistan's first Governor-General from independence
(14 August 1947) until his death. He is revered in Pakistan as Quaid-i-Azam
(Father of the Nation). His birthday is observed as a national holiday .
6. * *1962 amendments introduced Islamic modes of financing such as PLS,
leasing and hire purchase, and mark up sales.
*1963:the state has try to experiment to transform the operation of banks
interest (Reba) in the system without interest (without Reba), but this
experience only lasted a few months, due to the lack of perception a
comprehensive and integrated experience, and the lack of availability of
human resources to carry out the financing process.
In 1970 after the Conference of Foreign Ministers of Islamic countries in Pakistan / Karachi.
Egypt and Pakistan issued a call to set up a network of Islamic banks
At the end of 1970 took place the Islamization of the banking system in Pakistan.
The Islamic Summit of Lahore, Pakistan held in 1974 recommended the creation
of Islamic Banks and Islamic Development Bank.
The steps for Islamization of banking and financial system of Pakistan were initiated in 1977.
Starting from 1980s numerous measures were taken to introduce interest-free banking .
Pakistan has implemented Islamic Banking in the whole banking sector.
7. Brief overview on banking practice between the past and the present
The SBP is the central bank of Pakistan , which has remained basically unchanged (from 1948)
until January 1, 1974. after this date the scope of its functions has considerably enlarged .
The headquarters are located in the financial capital of Pakistan; Karachi. with its second
headquarters in the capital, Islamabad.
Many laws were amended to facilitate interest free (without riba) banking system in Pakistan
whereas the industry was given a specific timeline to convert to the Islamic banking system.
However, these efforts could not produce desired results due to absence of Shariah
compliance mechanism in place, lacking proper homework at the level of central bank,
as well as that of the financial institutions to enable such a sudden shift.
Considering the lessons learnt from the earlier efforts, Islamic Banking in Pakistan
was re-launched in 2001 when the Government decided to promote Islamic Banking in
a gradual manner and as a parallel and compatible system in line with the best
international practices.
8. Accordingly, Islamic Banking Department was established at SBP on 15th
September 2003 with the mandate of developing and strengthening regulatory
and Shariah compliance framework for Islamic banking industry and taking
initiatives for the promotion of Islamic Banking as a parallel and compatible
banking system in line with the best international practices.
Since its re-launch in 2001, the progress of Islamic Banking industry in Pakistan
has been tremendous yielding the growth of more than 30% on yearly basis in
terms of assets.
Currently there are five licensed full-fledged Islamic banks and fourteen
conventional banks with standalone Islamic Banking Branches operating in the
country. Various steps have been taken to make Islamic banking industry in
Pakistan a viable alternative to conventional banking.
The department has been working hard to develop a progressive, sound, and
stable Shariah-complaint banking system in line with the best international
practices. In order to strengthen the regulatory and Shariah compliance framework
for Islamic banking industry, the department is interalia working on the
adoption of prudential standards issued by IFSB ( The Islamic Financial
Services Board), and Shariah and Accounting standards issued by
AAOIFI(Accounting and Auditing Organization for Islamic Financial Institutions)
9. Now ; The Islamic financial sector is one of the most growing sectors in Pakistan.
Today it is 497 billion rupees or about 5.74 billion U.S. dollars, or 7.2% share of the
national banking system, Recall that there are 75% Muslims in Pakistan, making Islam
the religion of a large state majority .it now are 6 Islamic banks are: Meezan Bank
(Created January 27, 1997, is the seventh largest Islamic bank in the world (the first
being in the Gulf countries) and the first of Pakistan. She works with an advisory board
headed by Mufti Muhammad Taqi Uthmani, one of the most influential Muslim
scholars in the world but also a renowned specialist in Islamic finance.) , Bank El
Islami, islamic Global Bank, Al Barka Bank, Dawood Islamic Bank and Emirates
Global Islamic Bank.
These banks account for more than 500,000 customers, and this number is
increasing with population growth. in Pakistan, conventional banks have now
integrated Islamic financial transactions including establishing a branch network,
realizing the strong attraction of customers for ethical finance and religious.
Pakistan, the third country that adopted a policy of Islamisation of banking and
finance in the 1980s, stands just eighth – one point above Sudan
10. The main functions of the bank
Development of financial framework .
Institutionalization of savings and investment.
Provision of training facilities to bankers.
Provision of credit to priority sectors.
The process of islamization of the banking system by State Bank’s Shariah Board which
approves essentials and model agreements for Islamic modes of financing.
11. Theoretical Analysis of the Egyptian: the savings bank Mit Ghamr (1963-1967)
Mitagmr city: the capital is the center of Mitagmr, which is one of nine centers that constitute
the province of Dakahalia .. Mitagmr represents geographically the center of the Nile delta,
and is approximately 80 km north Cairo. and has a population of about 282,000 people in 1957.
, see: . البنوك الاسلامیة, أحمد النجار, مصر, شركة سبرينیت, 1993 م, ط 1, ص 47
Imam Malik said: "I looked through the book of Allah and the
Sunnah of His Prophet,
and is not seen worse than usury (riba), because God has authorized
war against him "
Plato says in the book The Spirit of Laws "it is not permissible for anyone
to lend a brother by usury (riba)."
12. Brief History
The idea of "Islamic Bank" which is based on domestic savings, and later became known
as "the Islamic local savings banks". His first appearance at Dr. Najjar has been during his
study history "local savings banks" in Germany, then worked as an expert in these banks
in the late fifties of the last century. purpose of these savings was to attract domestic
savings and its use in local projects that bring benefit in the local region itself, which
cause the involvement of the artisan and the farmer ... in economic development, which
has been an impetus for Dr. Najjar in the attempt to create such an environment in
Egyptian banks
Who is Al –Najjar?
Ahmed Abdul Aziz Al -Najjar (1932 - 1996) , he obtained a undergraduate in commerce from
Cairo University in 1952 and a master of the Institute of Political Science at Cairo University
in 1954. During his stay in Germany to prepare a PhD 1957-1959 , he was brought to its
attention by the savings banks , and he wished to convey this experience to Egypt.
was
appointed head of the Department of Economic Affairs of the Organization of the Islamic
Conference in Jeddah from 1971 to 1973..... then a member of the preparatory committee
for the establishment of the Islamic Development Bank in Jeddah in 1973. and as Secretary
General of the International Union of Islamic banks for a long time after its creation in 1978.
13. The savings mitghamr boxes, and through its branches is the first Islamic bank in the world
(after the fall of the empire ottman) which adopted and encourage the participation of the Islamic
system [without riba].In order to expedite the movement of progress, economic growth
and social development.
Observation:
The local savings banks in Egypt is not a replica of the local savings banks in Germany,
because Germany has tried to apply this experience in Somalia and LatinAmerica, but it failed.
And the success of the Egyptian experience is mainly based on earning the trust of citizens.
And she has a point of similarity with the German savings banks in decentralization and
profit and individual savings
14. Brief chronology of the Bank
At the end of the 50s: the beginning the idea was in Germany by its founder Ahmed al-Najjar.
Between 1961-1962: project preparation: he activate a series of lectures at the University
of Cairo and Ain Shams.
July 1963: The beginning of the first trial, in MITGHAMR , with the help of his uncle
Dr. Mohammed Abdullah Al Arabi, who was as Director General of the Ministry of the Interior.
12/12/1963: Cooperation Agreement between the United Arab Republic (egypt-series)
and the Government of the Federal Republic of Germany.
1964, the bank began to exploit the money saved in lending and investment, which gave
considerable profits, which lead the German party for waiver of interest rates. Because they
do not believe in screen that the Bank can meet its expenses without interest rates.
The inhabitants of the neighboring villages "Mitghamr" were called to the establishment of
branches of the Bank in their villages. And it was created many branches
1967:. BCE (Egyptian central bank) has ended the independence of the Fund under false
pretenses and for political reasons, the decision was taken by President Gamal Abdel Nasser.
1973 liquidation of the bank.
15. The most important conditions for the success of the project,
according to Dr. Najjar
1) The provision of local concept (village or city) Project .
2) The project is based on the will of the masses (village) and not the authorities' decision.
3) Develop awareness of savings in the population of the region, and investment deposits
under the control of village people.
4) Training of employees of these banks on professional practice.
16. Technical evaluation
Each device or financing institution depends on two elements:
Liquidity: The ability of the system to absorb Community funds
For example: public confidence in the bank, reached in September 1964 to 45 000 JH, the
number of savers is around 22,000, and the number of transactions reached 220,000 process.
Warranty and profitability is the extent of the use of these funds and return once more to
the community to build its economic structure.
Conclusion: this is achieved by the Fund.
Technical principles of the Savings Bank
It is based on three types of accounts:
First, deposit account: Bank accepts deposit accounts with a minimum and maximum without
limit, and the applicant has the right to withdraw the money in full or as needed. And the bank
does not offer bank interest on the amounts deposited, and here between the trust factor.
The second is the partnership investment. Bank invests its money either directly or through
the involvement of people with experience in various areas (industrial,commercial, agricultural ..)
and at the end of the year, calculates profits and losses will be distributed to investors.
Third: account Zakat: the acceptance of Zakat and its distribution to the beneficiaries, as it
accepts charitable donations, and grants and contributions
17. Brief comparison between banks usury (riba) and Islamic banks according to Dr. Najjar
Islamic banks use the funds (monies) as means. while ordinary banks (riba) practice trade in
the (monies).
Islamic banks ensure justice in the distribution. while ordinary banks (riba) help marginalize
dispensing justice. And they focus on the fund holders only.
Dr Ready RK said (Professor of Business Administration at the University of Toronto, and
the Dean of the International Institute for Behavioral Sciences in Washington.) :
"The creation of local savings banks in" mitghamr "is a truly pioneering experience can
serve as a model for all developing countries."
Brief statistic
“The number of depositors increased tremendously from 17560 in their financial year
(1963-1964) to 251152 in the financial year ending 1966/1967. The amount of deposit
also increased from LE 40944 at the end of the first financial year(63-64), to LE
1828375 at
the end of 1966/1967year.“
18. Theoretical Analysis of the Malaysian experience
The main headquarters of Tabung Haji
(the Malaysian hajj pilgrims fund board)
in Kuala Lumpur, Malaysia
Entrance
The first Islamic bank in Asia was Malaysian's Muslim pilgrims
Savings corporation (tabung haji), to help people save for
performing the hajj.
After it becomes a powerful financial institution.
Popularly called tabung haji(th), it started operating on September 30,1963 and
the management board was established in law in 1969.
Tabung haji simply mean the pilgrims fund managed by the lembaga tabung haji or malaysian
pilgrims management fund.
The role of the Fund is to invest the money, And instead of the distribution of returns to
investors directly, it are used to offset expenses of the pilgrimage, and the management of
the entire pilgrimage from Malaysia to the Saudi Arabia.
19. Why? The tabung hajji: Problematic and solution
The private funding proved to be an unsatisfactory solution for the general interest. It prevents
the development of the domestic economy because of the asset cash flows outside of
investment banking circuits.
To solve this problem which includes many socio-economic issues, Ungku Aziz presented
in 1959 an official report to government on improving the situation of national candidates haj.
Some objectives
Provide to local believers an opportunity to invest their savings in Shariah-compliant
investments.
Improve the financial situation of candidates for haj and umrah
(a short pilgrimage to the Holy Land).
Practice the fifth pillar of Islam in a very easy environment
20. Brief historic
In 1959 the Malaysian economist Ungku Aziz ( the father of the current governor of the
central bank of Malaysia: Dr zeti aziz ) proposed the establishment of Tabung Haji .
He suggested the establishment of a mutual business investment that must not practice
usury, while allowing to provide a return to the money saved by believers to make their
journey to Mecca .
In 1962, after long reflection to define the practical, the Malaysian authorities established
a savings of future pilgrims ( PerbadananWang Simpanan Bakal - Bakal Haji ) .
August 1963 : It was legally registered .
November 1963 : publication of its statutes .
30 September 1963 : it started its operations
In 1969 , the organization expanded its powers to form the Lembaga Tabung Haji dan
Urusan ( LUTE ) .
In 1995: the parliament has Reformed its status, further expanding the scope of its activities,
particularly in financial terms ; it is also on this occasion it adopted its present name
(Lembaga Tabung Haji).
21. Economic evaluation
In 1963 : there were 1,281 investors.
At the end of 1997 : he claimed 3,205,885 individual customers and a market capitalization
of 4.3 billion RM . and During the Asian currency crisis (1997):He also recorded in this year the
accession of 254,881 additional investors.
On 8 August 1997, the organization has also been one of the first Shariah-compliant
companies to obtain international quality certificate ISO 9002 MS.
Today and in the medium term, the objective is to reach five million contractors(5000000),
about one Muslim in three in country.
In addition , the organization regularly offers new savings products ( pension plan ,
employee savings , etc.).and Widely encourages the opening of individual accounts in
other than merely financing haj to sustain steady increase in the number of its contractors.
22. Some secret to success
Taking charge of pilgrimage monopoly allows it to achieve
economies of scale to offer a fixed cost relatively cheap.
Sustainable popular success of the Tabung Haji is mainly related to
its performance as a tool for capitalization.
All of the funds made available to the Tabung Haji are placed in
satisfactory products to religious standards. Guaranteed by an
oversight committee - Majlis Penasihat Pelaburan or Investment
Consultative Council.
The expansion of its development policy through the creation of
several commercial subsidiaries, in totality or majority according
to cases, which exercise as that executive operator in areas such as
real estate, plantation agriculture or tourism .
It is the majority shareholder of Bank Islam
23. Brief conclusion
The Malaysian political economy integrates a
very singular Islamic dimension, resulting from
the State voluntarism.
It's all a plan of the economy “compliant with
Syariah” accompanies the rapid growth of
capitalism in Malaysia - the first economic power
in Southeast Asia after Singapore - and occupies a
leading position of expertise worldwide
24. Brief comparison of the three historical experience
In Pakistan
Experience in Pakistan it was based on a comprehensive Islamization of banking
sector, which did not last long at first, by lack of preparation , material and moral.
Unlike the experience of Tabung Haji or mitghamr , which were based on savings
with a distinction between the two(Tabung Hadjji in Malaysia and experience
MitGhamr in Egypt).
Indeed, if the objective set by the creators of Tabung Haji and Mit Ghamr was the
same (ie promote development disadvantaged populations while respecting the
philosophy of Islamic law), both experiments have followed different forms .
Two different experiences:
a) Tabung Hadjji, promoted and financed by public authorities Malaysian, was
dedicated to invest the resources collected from a large number of small investors in
large industrial projects, agricultural and construction …
b) The MitGhamr, which was part of a completely private initiative, was
composed of small savings cooperatives investment / operating in the agricultural
regions of northern Egypt. The objective of their founder, Ahmed al-Najjar, was to
ensure the intermediation of funds between savers and small local investors.
25. conclusion: findings and recommendation
Findings
Islamic Banking industry has shown tremendous growth, which
clearly sends a message that the Islamic Banking is right, on the
growth path. Those who refused to acknowledge the phenomenon in
the early days now are active participants and mobilizes their efforts
to tap into this fast-growing Islamic financial market.
The West has also recognized the potential of this industry and a
large number of Western banks have either established subsidiaries
and/or opened Islamic Banking window operations.
The creations of Islamic finance entities multiply in London and
now in Europe.
Growth of Islamic finance has accelerated with the emergence of the
phenomenon of accumulation of savings in Muslim countries .
26. There was an Islamic bank in 1975 , there are more than 300 today .
According to the different estimates, Islamic assets grew at an annual rate
of growth average between 10 and 15% since 2000 and it is expected that
this rate continue in the next 4 or 5 years.
The market financial products respecting the precepts of the Shari'ah has
reached 300 billion in 2006 .
Today, the value estimated the total Islamic assets exceed 700 billion
dollars (Standard & Poor's).
There is a liquidity crisis in the global system, but we are one of few banks
not to be affected by the financial crisis, said on Jan. 7 ,2009 representative
of Noor Islamik Bank UAE .
Thus Islamic finance seems increasingly able to avoid failures of traditional
finance and can attract by its specific ethics, presented as "marketing
argument" by the non-Muslims.
27. Recommendation
It is obviously desirable that substantial Islamic savings hope to be invested in
Muslim countries themselves.
Islamic finance should it be subject to specific regulations , such as the case for
conventional finance .
Observation in the essential role of private savings, education in saving, in the
process of socio economic development.
The effective contribution of the masses in the development process cannot be
overlooked.
The economy of developing countries cannot be built up solely from the top.
Therefore, we must involve the masses in the process of capital formation.
This by encouraging private initiatives, education of the entrepreneur in the
treatment of financial institutions, and benefit from the experience of other
jurisdictions.
Leaders must consider the environmental context, so that the institutions must take
account of the cultural aspirations and spiritual beliefs of the population
28. Islamic finance is based on the real economy,
without any speculative transaction.