This document discusses the prohibition of riba (usury or interest) in Islam. It begins by defining riba as interest of any size, as earning income without risk is against Islamic principles. It then explains how riba leads to an unfair concentration of wealth and distortion of markets. The document traces the origins of riba banking to 17th century Venice, where Christians legitimized the practice by having Jews conduct riba lending. It argues that without riba, the world economy could still grow through equity-based Islamic finance. The document also discusses how Western colonialism secularized Muslim societies and separated religion from other aspects of life. It advocates for the Islamization of knowledge by infusing modern disciplines with Islamic concepts and values
Considering Religion as a brand and looking at it from a marketing perspective. This is strictly for academic purpose and not to hurt anybody's feelings.
Riba refers to interest paid on loans, which is prohibited in Islam. There are two main types of riba - riba al-nasiyah which is interest on loans, and riba al-fadl which involves exploiting unequal exchanges of commodities. The Quran and hadith clearly forbid riba. Riba causes injustice, greed, inflation and burdens poor nations with unsustainable debt. Muslims should avoid taking out loans with interest and instead use riba-free banking options or borrow from family/friends interest-free. Strictly following Islamic financial principles can help society avoid the harms of riba.
Economic Crisis in Pakistan & Solution: Islamic PerspectiveAsad Zaman
The crisis is caused by continued exploitation of the masses using poor economic policies, designed to benefit the rich by exploiting the poor. Proposing good policies will not affect power structure, and so these policies will not be implemented. The way out lies in halls of knowledge - universities. By teaching the truth, to combat the lies which support existing power configuration, we can create revolutionary changes.
Clearly we are transitioning.....
What will "The Next Economy" look like ?
I recently delivered this presentation to a a group of CEDA Trustees.
I look at the factors driving the current change and where wae are heading next.
This document provides an introduction to the economic system in Islam. It begins by distinguishing between economic systems and economic science. It then summarizes the capitalist, socialist, communist, and Islamic economic systems. The key aspects of the Islamic economic system that are highlighted include: the triple nature of possession involving private, public, and collective ownership; freedom of private enterprise with limits; and ensuring social justice. The document argues that the Islamic economic system achieved success when originally implemented but deviations led to failures, and it provides a balanced approach compared to other systems.
This document summarizes the key arguments from the book "Money, Greed, and God: Why Capitalism is the Solution Not the Problem" by Jay W. Richards and David L. Johnson. It argues that capitalism is consistent with Christianity and refutes claims that capitalism is based on greed, exploits the poor, or will use up all resources. The summary outlines how capitalism has helped the poor more than welfare, how Christians helped invent banking and finance, and how capitalism promotes virtues like diligence and creativity.
Islamic solutions to the modern economic crisisYamen Nanne
The document discusses the history and flaws of the current fiat monetary system and proposes Islamic economic solutions. It summarizes that the Federal Reserve system allows private banks to profit from money creation through interest, creating perpetual debt. This system caused the 2008 financial crisis. Islam prohibits interest and advocates financing that is tied to real economic transactions and risk-sharing models. The document proposes short-term solutions like debt relief and complementary currencies, and long-term solutions such as commodity-backed currencies and negative interest in the form of zakat to transition to a just economic system.
When I CanT Avoid Writing - BE KITSCHIG. Online assignment writing service.Tracy Hill
This document discusses the advantages and disadvantages of universal banking. Some key advantages include increased revenue opportunities through offering a variety of financial products, easy marketing by leveraging existing bank branches, and providing one-stop shopping. However, challenges also exist, such as regulatory differences between traditional banking and other financial services that could create a "grey area" for universal banks.
Considering Religion as a brand and looking at it from a marketing perspective. This is strictly for academic purpose and not to hurt anybody's feelings.
Riba refers to interest paid on loans, which is prohibited in Islam. There are two main types of riba - riba al-nasiyah which is interest on loans, and riba al-fadl which involves exploiting unequal exchanges of commodities. The Quran and hadith clearly forbid riba. Riba causes injustice, greed, inflation and burdens poor nations with unsustainable debt. Muslims should avoid taking out loans with interest and instead use riba-free banking options or borrow from family/friends interest-free. Strictly following Islamic financial principles can help society avoid the harms of riba.
Economic Crisis in Pakistan & Solution: Islamic PerspectiveAsad Zaman
The crisis is caused by continued exploitation of the masses using poor economic policies, designed to benefit the rich by exploiting the poor. Proposing good policies will not affect power structure, and so these policies will not be implemented. The way out lies in halls of knowledge - universities. By teaching the truth, to combat the lies which support existing power configuration, we can create revolutionary changes.
Clearly we are transitioning.....
What will "The Next Economy" look like ?
I recently delivered this presentation to a a group of CEDA Trustees.
I look at the factors driving the current change and where wae are heading next.
This document provides an introduction to the economic system in Islam. It begins by distinguishing between economic systems and economic science. It then summarizes the capitalist, socialist, communist, and Islamic economic systems. The key aspects of the Islamic economic system that are highlighted include: the triple nature of possession involving private, public, and collective ownership; freedom of private enterprise with limits; and ensuring social justice. The document argues that the Islamic economic system achieved success when originally implemented but deviations led to failures, and it provides a balanced approach compared to other systems.
This document summarizes the key arguments from the book "Money, Greed, and God: Why Capitalism is the Solution Not the Problem" by Jay W. Richards and David L. Johnson. It argues that capitalism is consistent with Christianity and refutes claims that capitalism is based on greed, exploits the poor, or will use up all resources. The summary outlines how capitalism has helped the poor more than welfare, how Christians helped invent banking and finance, and how capitalism promotes virtues like diligence and creativity.
Islamic solutions to the modern economic crisisYamen Nanne
The document discusses the history and flaws of the current fiat monetary system and proposes Islamic economic solutions. It summarizes that the Federal Reserve system allows private banks to profit from money creation through interest, creating perpetual debt. This system caused the 2008 financial crisis. Islam prohibits interest and advocates financing that is tied to real economic transactions and risk-sharing models. The document proposes short-term solutions like debt relief and complementary currencies, and long-term solutions such as commodity-backed currencies and negative interest in the form of zakat to transition to a just economic system.
When I CanT Avoid Writing - BE KITSCHIG. Online assignment writing service.Tracy Hill
This document discusses the advantages and disadvantages of universal banking. Some key advantages include increased revenue opportunities through offering a variety of financial products, easy marketing by leveraging existing bank branches, and providing one-stop shopping. However, challenges also exist, such as regulatory differences between traditional banking and other financial services that could create a "grey area" for universal banks.
The document summarizes an international conference on Islamic microfinance. It discusses various models of microfinance and their achievements. It emphasizes the importance of the cooperative model, highlighting the case study of Al Barakah Multi-purpose Cooperative Society, an Islamic microfinance cooperative in Mauritius. The conference explores concepts like ownership, accountability and worldviews from an Islamic perspective in the context of establishing sustainable Islamic microfinance.
1) The document discusses how Muslims have historically set standards and influenced the world through demonstrating Islamic ideals, but have since declined by imitating others rather than leading.
2) It argues that Muslims must reconnect theology and science by explaining scientific phenomena through the lens of Quranic purpose and guidance.
3) The document calls on Muslims to once again become "standard bearers" by practically applying Islamic principles to solve modern problems and differentiate themselves through confidently demonstrating the superiority of the Islamic way of life.
The document discusses the short story "A Pair of Silk Stockings" by Kate Chopin. It analyzes how the story portrays feminism and the expectations society places on women's roles. Mrs. Sommers, the main character, wishes to escape her role as a housewife and live a life of luxury, but society enforces the norms that women should conform to the demands of their time rather than their own desires. The analysis shows how literature from earlier periods, like Chopin's work, still resonates today as feminism has yet to achieve full equality between men and women.
Great Writing 5 Greater Essays, Book By Keith S. FolseErin Moore
The document provides instructions for creating an account and submitting assignment requests to the writing service HelpWriting.net. Users must register with an email and password, then complete a form with assignment details and deadline. Writers bid on the request, and the user selects a writer based on qualifications. After receiving the paper, the user can request revisions until satisfied. The service promises original, high-quality work with refunds for plagiarism.
The series of Booklets that have been produced is
to remove misconception on Islam, and see ways
and means to nd the similarities in the Great
Masters Teachings, through the available
Scriptures, and to prevent Mischief.
Sample Of Research Papers - Essnewday.Web.Fc2.ComPamela Caluso
The document discusses speciation and evolution of cichlid fish in East Africa, noting that cichlids have undergone an adaptive radiation in the lakes of East Africa where hundreds of species have evolved, and that this rapid speciation is attributed to ecological opportunity and sexual selection playing a role in reproductive isolation between populations. The cichlid fish of East Africa provide a classic example of adaptive radiation where a single ancestral lineage has diversified into many ecological niches and species.
The book of Deuteronomy was written as the Israelites were entering the Promised Land to reinforce God's laws and covenant with the people as they prepared to settle in their new home. It restates key events of the Exodus and 40 years in the wilderness, emphasizing obedience to God and warning of the consequences of disobedience. Moses delivers orations to the new generation of Israelites who were not present during the initial events, preparing them to live according to God's commands in the land they are about to inherit.
The document critiques the current rhetoric around welfare reform and argues that while the welfare state is fundamentally good, it has been designed wrongly and many beliefs about it are false. It makes six main points: 1) the welfare state benefits society but is designed incorrectly, 2) many common beliefs about its costs and effects are untrue, 3) it is paradoxically biased against the poor, 4) the current reform agenda risks further corrupting the system, 5) citizenship rather than charity should be the guiding principle, and 6) a better system is needed that supports communities and basic securities for all as a matter of rights.
Personal Essay For College Application Samples TelPawpaw Tran
This document summarizes how Reiki changed the author's life in several ways:
1. The author regularly practices Reiki on themselves to center, ground, and relieve stress or unease throughout the day.
2. Reiki allows the author to bring out their best qualities and reduce fear or feelings of being trapped.
3. The author enjoys providing Reiki sessions to others, which helps build confidence and a sense of purpose in helping others heal.
The document discusses the history and benefits of debate, noting that debate has been an important part of education for centuries by teaching students how to think critically and communicate effectively. It then provides background on the author's experience with debate in high school sophomore year, suggesting they see debate as an important life skill. The purpose seems to be to advocate for the value and educational benefits of debate programs.
{bit.ly/IslamicEcon2023} Lecture 8 on Islamic Economics explains that Wants are unlimited, and increase if we fulfill them. Thus, more production cannot solve the problem of scarcity. Islam offers an alternative. Fulfill needs, but DO NOT fulfill wants. It turns out (Easterlin Paradox) that fulfillment of wants appears to be attractive, but leads to increasing misery for the entire society. Instead of growth, we need to pursue degrowth, both for our personal and social welfare, and also to avert the climate catastrophe that looms.
This document provides an overview of different economic systems including capitalism, socialism, and the Islamic economic system. It discusses key aspects of each such as property ownership, motivation, decision-making, and implementation. The Islamic economic system is based on principles that all wealth belongs to God, the community is responsible as trustees of wealth, hoarding is prohibited, and wealth circulation is a duty. It differs from other systems in its emphasis on ethics, universal brotherhood and justice, and prohibition of riba. Alternatives to riba like qard hassan and waqf are also explained.
National Honor Society Essay | How to Write? Format, Example and .... National Honor Society Essay Ideas | Sitedoct.org. 019 National Honor Society Essay Samples Personal Statement Nhs L .... 010 Sample Nhs Essays Njhs Essay Example National Honor Society Junior .... 006 Essay Example National Honor Society Letter Of Recommendation For .... Unbelievable Essays For National Honor Society ~ Thatsnotus. 014 Essay Example National Honors Society Examples Of Honor Junior .... National Honors Society Essay. To be in the National Honors Society - University Social studies .... Nhs application essay. How to Write a National Honor Society Essay (NHS .... National Honor Society Essay Example – Telegraph. 008 National Junior Honor Society Essay Samples Example Letter Of .... National Honor Society Application Essay | National Health Service .... How To Write The National Honor Society Essay?. Expository essay: National honor society application essay. National honor society essay - College Homework Help and Online Tutoring.. ️ National honor society essay examples. National Honor Society. 2019-02-01. 28+ National Junior Honor Society Essay Examples Gif - scholarship. Narrative essay: National honor society essay. Importance of Women's Rights Essay - Free Essay Example - Edubirdie. National Honor Society Essay Pdf - Fill Online, Printable, Fillable .... How to Write a National Honor Society Essay. 023 National Honor Society Character Essay Example Opinion Nhs ~ Thatsnotus. 019 Essay Example National Junior Honor Society ~ Thatsnotus. National honor society acceptance essay - persepolisthesis.web.fc2.com. Outstanding National Honor Society Essay ~ Thatsnotus. Surprising National Honor Society Essay Character ~ Thatsnotus. National Junior Honor Society Essay Examples - njhs essay samples - 798 .... 023 Essay Example National Honor Society Character ~ Thatsnotus. 016 Essay Example National Honors Society ~ Thatsnotus National Honors Society Essays
Islam's solution to the global financial crisisNikhat Mohamedy
This document discusses the flaws of capitalism and socialism, and proposes that the solution to the global financial crisis lies in following the economic system presented in Islam. It outlines some of the key principles of Islamic economics, including prohibitions on interest and requirements for zakat. It provides evidence from the Quran, hadith, and other religious texts on the issue of interest. The negative effects of interest on society such as inflation, unemployment, and farmer suicides are also described. The document promotes the idea of interest-free banking based on equity principles as an alternative.
Purposeful Capital What the right Capital can do for the Kingdom - by Brett J...The Kingdom Summit
This year, The Kingdom Summit 2016 will be held at The King's Court, Lagos, Nigeria from 21st to 23rd October 2016, featuring top experts, leaders, speakers and panelists from around the world.
The theme for this year's summit is: Thriving in Turbulent Economic Times
Do not miss the opportunity to attend this conference and takeaway 'Kingdom Strategies' for your work-life and business.
Free online registration: http://bit.ly/2baJ346
Share this with your business network, workplace colleagues, friends and family.
presentation to certification program in islamic finance a joint cooperation between University of Mohammed V Morocco and Tazkia Institute of Islamic Economics
The Failure of US Diplomacy in the Middle East 3.0Bob Asken
The document discusses the failure of Western diplomacy in the Middle East. It argues that Western countries like the US make assumptions about the Middle East that do not align with reality. If the Arab Spring spreads and more democracies form in the Middle East, there is no guarantee they will become allies or trading partners of Western nations. The Middle East countries may instead form their own economic union focused on self-interest rather than ideology. Western diplomacy needs to shift its approach and learn to conduct global business rather than relying on outdated diplomatic relationships.
Miles Young - Muslim Futurism and Islamic BrandingThink Ethnic
The document summarizes key findings from research conducted by Ogilvy & Mather on Muslim consumers and Islamic branding. There are two main groups identified - Traditionalists who take a more collective approach to their faith, and Futurists who see Islam as central to their individual identity and are more fiercely proud of their faith. For global brands, the opportunity lies in empathizing with Futurists and communicating genuine Shariah-friendliness rather than just seeing them as another market segment. Halal compliance and corporate reputation will be increasingly important to skeptical Futurist consumers. Brands must inform, educate, reassure consumers and demonstrate Shariah values to build trust with this important demographic.
This document discusses the concept of a borderless economy from an Islamic finance perspective. It argues that while modern banking products like ATMs and credit cards allow borderless transactions, corporate banking is still limited by national borders. However, some borderless corporate banking may already exist in international markets. The document suggests that with internet-based borderless payments, the need for banks and international reserve currencies as intermediaries in global trade may decline. It proposes alternatives like governments or book-based settlement between OIC countries' central banks as intermediaries in international trade.
Eng islamic economics islamic banking and maqasid syariah (2)Zahid Aziz
This document outlines the key principles of Islamic economics and their implications for Islamic banking.
It discusses the three pillars of Islamic economics - that wealth belongs to God and humans are accountable for it, all humans are equal in God's eyes, and belief in the afterlife shapes long-term planning. It also examines principles like prohibition of riba, equity-based financing, and human welfare.
The implications for Islamic banks are that profits cannot be the primary goal, deposits are held in trust for God, and justice must be observed in all activities. Financing should aim for equitable distribution of wealth and benefit society. Islamic banks have a role in guaranteeing minimum standards of living through zakat and microfinance.
The document summarizes an international conference on Islamic microfinance. It discusses various models of microfinance and their achievements. It emphasizes the importance of the cooperative model, highlighting the case study of Al Barakah Multi-purpose Cooperative Society, an Islamic microfinance cooperative in Mauritius. The conference explores concepts like ownership, accountability and worldviews from an Islamic perspective in the context of establishing sustainable Islamic microfinance.
1) The document discusses how Muslims have historically set standards and influenced the world through demonstrating Islamic ideals, but have since declined by imitating others rather than leading.
2) It argues that Muslims must reconnect theology and science by explaining scientific phenomena through the lens of Quranic purpose and guidance.
3) The document calls on Muslims to once again become "standard bearers" by practically applying Islamic principles to solve modern problems and differentiate themselves through confidently demonstrating the superiority of the Islamic way of life.
The document discusses the short story "A Pair of Silk Stockings" by Kate Chopin. It analyzes how the story portrays feminism and the expectations society places on women's roles. Mrs. Sommers, the main character, wishes to escape her role as a housewife and live a life of luxury, but society enforces the norms that women should conform to the demands of their time rather than their own desires. The analysis shows how literature from earlier periods, like Chopin's work, still resonates today as feminism has yet to achieve full equality between men and women.
Great Writing 5 Greater Essays, Book By Keith S. FolseErin Moore
The document provides instructions for creating an account and submitting assignment requests to the writing service HelpWriting.net. Users must register with an email and password, then complete a form with assignment details and deadline. Writers bid on the request, and the user selects a writer based on qualifications. After receiving the paper, the user can request revisions until satisfied. The service promises original, high-quality work with refunds for plagiarism.
The series of Booklets that have been produced is
to remove misconception on Islam, and see ways
and means to nd the similarities in the Great
Masters Teachings, through the available
Scriptures, and to prevent Mischief.
Sample Of Research Papers - Essnewday.Web.Fc2.ComPamela Caluso
The document discusses speciation and evolution of cichlid fish in East Africa, noting that cichlids have undergone an adaptive radiation in the lakes of East Africa where hundreds of species have evolved, and that this rapid speciation is attributed to ecological opportunity and sexual selection playing a role in reproductive isolation between populations. The cichlid fish of East Africa provide a classic example of adaptive radiation where a single ancestral lineage has diversified into many ecological niches and species.
The book of Deuteronomy was written as the Israelites were entering the Promised Land to reinforce God's laws and covenant with the people as they prepared to settle in their new home. It restates key events of the Exodus and 40 years in the wilderness, emphasizing obedience to God and warning of the consequences of disobedience. Moses delivers orations to the new generation of Israelites who were not present during the initial events, preparing them to live according to God's commands in the land they are about to inherit.
The document critiques the current rhetoric around welfare reform and argues that while the welfare state is fundamentally good, it has been designed wrongly and many beliefs about it are false. It makes six main points: 1) the welfare state benefits society but is designed incorrectly, 2) many common beliefs about its costs and effects are untrue, 3) it is paradoxically biased against the poor, 4) the current reform agenda risks further corrupting the system, 5) citizenship rather than charity should be the guiding principle, and 6) a better system is needed that supports communities and basic securities for all as a matter of rights.
Personal Essay For College Application Samples TelPawpaw Tran
This document summarizes how Reiki changed the author's life in several ways:
1. The author regularly practices Reiki on themselves to center, ground, and relieve stress or unease throughout the day.
2. Reiki allows the author to bring out their best qualities and reduce fear or feelings of being trapped.
3. The author enjoys providing Reiki sessions to others, which helps build confidence and a sense of purpose in helping others heal.
The document discusses the history and benefits of debate, noting that debate has been an important part of education for centuries by teaching students how to think critically and communicate effectively. It then provides background on the author's experience with debate in high school sophomore year, suggesting they see debate as an important life skill. The purpose seems to be to advocate for the value and educational benefits of debate programs.
{bit.ly/IslamicEcon2023} Lecture 8 on Islamic Economics explains that Wants are unlimited, and increase if we fulfill them. Thus, more production cannot solve the problem of scarcity. Islam offers an alternative. Fulfill needs, but DO NOT fulfill wants. It turns out (Easterlin Paradox) that fulfillment of wants appears to be attractive, but leads to increasing misery for the entire society. Instead of growth, we need to pursue degrowth, both for our personal and social welfare, and also to avert the climate catastrophe that looms.
This document provides an overview of different economic systems including capitalism, socialism, and the Islamic economic system. It discusses key aspects of each such as property ownership, motivation, decision-making, and implementation. The Islamic economic system is based on principles that all wealth belongs to God, the community is responsible as trustees of wealth, hoarding is prohibited, and wealth circulation is a duty. It differs from other systems in its emphasis on ethics, universal brotherhood and justice, and prohibition of riba. Alternatives to riba like qard hassan and waqf are also explained.
National Honor Society Essay | How to Write? Format, Example and .... National Honor Society Essay Ideas | Sitedoct.org. 019 National Honor Society Essay Samples Personal Statement Nhs L .... 010 Sample Nhs Essays Njhs Essay Example National Honor Society Junior .... 006 Essay Example National Honor Society Letter Of Recommendation For .... Unbelievable Essays For National Honor Society ~ Thatsnotus. 014 Essay Example National Honors Society Examples Of Honor Junior .... National Honors Society Essay. To be in the National Honors Society - University Social studies .... Nhs application essay. How to Write a National Honor Society Essay (NHS .... National Honor Society Essay Example – Telegraph. 008 National Junior Honor Society Essay Samples Example Letter Of .... National Honor Society Application Essay | National Health Service .... How To Write The National Honor Society Essay?. Expository essay: National honor society application essay. National honor society essay - College Homework Help and Online Tutoring.. ️ National honor society essay examples. National Honor Society. 2019-02-01. 28+ National Junior Honor Society Essay Examples Gif - scholarship. Narrative essay: National honor society essay. Importance of Women's Rights Essay - Free Essay Example - Edubirdie. National Honor Society Essay Pdf - Fill Online, Printable, Fillable .... How to Write a National Honor Society Essay. 023 National Honor Society Character Essay Example Opinion Nhs ~ Thatsnotus. 019 Essay Example National Junior Honor Society ~ Thatsnotus. National honor society acceptance essay - persepolisthesis.web.fc2.com. Outstanding National Honor Society Essay ~ Thatsnotus. Surprising National Honor Society Essay Character ~ Thatsnotus. National Junior Honor Society Essay Examples - njhs essay samples - 798 .... 023 Essay Example National Honor Society Character ~ Thatsnotus. 016 Essay Example National Honors Society ~ Thatsnotus National Honors Society Essays
Islam's solution to the global financial crisisNikhat Mohamedy
This document discusses the flaws of capitalism and socialism, and proposes that the solution to the global financial crisis lies in following the economic system presented in Islam. It outlines some of the key principles of Islamic economics, including prohibitions on interest and requirements for zakat. It provides evidence from the Quran, hadith, and other religious texts on the issue of interest. The negative effects of interest on society such as inflation, unemployment, and farmer suicides are also described. The document promotes the idea of interest-free banking based on equity principles as an alternative.
Purposeful Capital What the right Capital can do for the Kingdom - by Brett J...The Kingdom Summit
This year, The Kingdom Summit 2016 will be held at The King's Court, Lagos, Nigeria from 21st to 23rd October 2016, featuring top experts, leaders, speakers and panelists from around the world.
The theme for this year's summit is: Thriving in Turbulent Economic Times
Do not miss the opportunity to attend this conference and takeaway 'Kingdom Strategies' for your work-life and business.
Free online registration: http://bit.ly/2baJ346
Share this with your business network, workplace colleagues, friends and family.
presentation to certification program in islamic finance a joint cooperation between University of Mohammed V Morocco and Tazkia Institute of Islamic Economics
The Failure of US Diplomacy in the Middle East 3.0Bob Asken
The document discusses the failure of Western diplomacy in the Middle East. It argues that Western countries like the US make assumptions about the Middle East that do not align with reality. If the Arab Spring spreads and more democracies form in the Middle East, there is no guarantee they will become allies or trading partners of Western nations. The Middle East countries may instead form their own economic union focused on self-interest rather than ideology. Western diplomacy needs to shift its approach and learn to conduct global business rather than relying on outdated diplomatic relationships.
Miles Young - Muslim Futurism and Islamic BrandingThink Ethnic
The document summarizes key findings from research conducted by Ogilvy & Mather on Muslim consumers and Islamic branding. There are two main groups identified - Traditionalists who take a more collective approach to their faith, and Futurists who see Islam as central to their individual identity and are more fiercely proud of their faith. For global brands, the opportunity lies in empathizing with Futurists and communicating genuine Shariah-friendliness rather than just seeing them as another market segment. Halal compliance and corporate reputation will be increasingly important to skeptical Futurist consumers. Brands must inform, educate, reassure consumers and demonstrate Shariah values to build trust with this important demographic.
This document discusses the concept of a borderless economy from an Islamic finance perspective. It argues that while modern banking products like ATMs and credit cards allow borderless transactions, corporate banking is still limited by national borders. However, some borderless corporate banking may already exist in international markets. The document suggests that with internet-based borderless payments, the need for banks and international reserve currencies as intermediaries in global trade may decline. It proposes alternatives like governments or book-based settlement between OIC countries' central banks as intermediaries in international trade.
Eng islamic economics islamic banking and maqasid syariah (2)Zahid Aziz
This document outlines the key principles of Islamic economics and their implications for Islamic banking.
It discusses the three pillars of Islamic economics - that wealth belongs to God and humans are accountable for it, all humans are equal in God's eyes, and belief in the afterlife shapes long-term planning. It also examines principles like prohibition of riba, equity-based financing, and human welfare.
The implications for Islamic banks are that profits cannot be the primary goal, deposits are held in trust for God, and justice must be observed in all activities. Financing should aim for equitable distribution of wealth and benefit society. Islamic banks have a role in guaranteeing minimum standards of living through zakat and microfinance.
Islamic banks as determined by Islamic EconomicsZahid Aziz
This document outlines the key principles of Islamic economics and their implications for Islamic banking.
It discusses the three pillars of Islamic economics - that wealth belongs to God and humans are accountable for it, all humans are equal in God's eyes, and belief in the afterlife shapes long-term planning. It also examines principles like prohibition of riba, equity-based financing, and human welfare.
The implications for Islamic banks are that profits cannot be the primary goal, deposits are held in trust for God, and justice must be observed in all activities. Financing should aim for equitable distribution of wealth and benefit society. Islamic banks have a role in guaranteeing minimum standards of living through zakat and microfinance.
This document discusses the prophecy of the Prophet Muhammad about a future time when gold dinars and silver dirhams will be the only currency of value. It argues that the modern monetary system based on fiat currencies like the US dollar is fraudulent and exploitative, designed to remove money with intrinsic value and allow theft of wealth through currency devaluation. It calls for replacing this system with one based on the gold dinar to avoid manipulation and ensure money has intrinsic value according to Islamic principles from the Quran and Sunnah.
Economic hit men (EHMs) are highly paid professionals who manipulate countries into large loans from organizations like the World Bank that they can never repay, ensuring control over the country's resources. Through fraudulent financial reports, rigged elections, payoffs, and other means, they funnel money from loans back to corporations in developed countries, leaving the recipient nations deeply in debt. As an example, John Perkins details how EHMs in the 1960s and 70s helped loan billions to Ecuador on the condition that most of the money support US firms, leaving the country today with $16 billion in debt and most of its citizens in deepening poverty and unemployment. The global EHM system has trapped much of the developing world under $2
Islamic finance operates at a disadvantage compared to conventional riba-based banking due to three factors: 1) it must compete for customers and deposits within a riba-based economic system tilted towards conventional banks, 2) both systems co-exist within a broader riba-based world economy governed by man-made laws, and 3) Islamic finance principles that prohibit riba, gharar and maysir make it difficult to offer competitive products without compromising its values. True reform requires a complete transition to an economic system based on Islamic principles of equity across banking, economics and law.
This document discusses the prohibition of riba (usury or interest) in Islam. It begins by defining riba as interest of any size, as earning income without risk is against Islamic principles. It then explains how riba leads to an unfair concentration of wealth and distortion of markets. The document traces the origins of riba banking to 17th century Venice, where Christians legitimized the practice by having Jews conduct riba lending. It argues that without riba, the world economy could still grow through equity-based Islamic finance. The document also discusses how Western colonialism secularized Muslim societies and separated religion from other aspects of life. It advocates for the Islamization of knowledge by infusing modern disciplines with Islamic concepts and values
Temple of Asclepius in Thrace. Excavation resultsKrassimira Luka
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).
How Barcodes Can Be Leveraged Within Odoo 17Celine George
In this presentation, we will explore how barcodes can be leveraged within Odoo 17 to streamline our manufacturing processes. We will cover the configuration steps, how to utilize barcodes in different manufacturing scenarios, and the overall benefits of implementing this technology.
Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
3. Quiz a) Is riba equal to usury? b) Is riba equal to excessive interest? c) Is riba equal to interest of any size? 3
4. 4 Answer c) Riba equals to interest of any size. Why?
5. Earning income without any assumption of risk. Its all about the risk aspect. Majelle legal Maxim : Al-ghunm bi al-ghurm Gain accompanies loss. i.e. legitimate gain can come only with possibility of loss Riba = “gain accompanies gain” No lose situation for the owner of money. 5
6. Lending capital and demanding guaranteed success. Predetermined return on capital regardless of outcome of business Predetermined return of capital regardless of outcome of business Does mere ownership of money makes one divine?!!! 6
7. 7 Riba distorts market Inefficient allocation and distribution of resources. End result rich gets richer ; poor gets poorer. Riba prices money. Money is not and should not be a factor of production. It is a means of exchange, a store of value, a unit of account. It is not a factor of production.
8. 8 Capital goods is a factor of production. Imagine if capital goods, a tractor for example is both treated as money and a factor of production. We use tractor to farm land to generate profit; others lend trade tractors now for guaranteed return of more tractors in the future. Which is the better business, farming, or lending tractors with no possibility of loss?
9. 9 Much distortion in market! Owner of wealth gets richer and richer. User of wealth? Good luck to you. If you’re lucky you will be profitable. If not tough luck. Whatever it is pay me back my tractors plus my guaranteed return! Rich gets richer, poor gets poorer system.
10. Leads to distortion in distribution of wealth Leads to concentration of wealth in a few hands. A maqasidSyariah or one objective ofSyariah is a good distribution of wealth, not concentrated in a few hands. 10
11. Proof of this maqasid is Far’aid. Far’aid breaks up concentration of wealth. Compare to non-Muslim inheritance rules of wills and sole heirs 11
12. 12 How riba brings down economies Riba financiers demand a return regardless of performance of companies. Example :Otherwise healthy exporting companies may suffer temporary drop in sales due to poor export market. Riba financiers demand return regardless. With continued poor export sales, caught between a rock and a hard place eventually healthy export companies collapse; lay off workers. If many similar companies collapsed and all lay off workers overall consumer demand fall. Leading to collapse of companies in other industries leading to more lay off of workers leading to greater fall in consumer demand leading to more lay off of workers……… And all because riba financiers demand an unjustified return.
13. Empirical objections to riba driven economy : 1) Leads to great disparity in world distribution of wealth. Today : 80% of the world’s wealth is in the hands of 20% of the world’s population 13
14. 2) Leads to unnecessary economic cycles 14 Studies have shown interest distort economies and and leads to ‘compulsory’ cyclical depressions to work itself out
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17. Why then in many Muslim countries Alchohol is haram and illegal to Muslims but Riba is not? 17
18. How and where did riba banking originate? Riba is banned in Christianity and Judaism In seventeenth century Christian merchants of Venice outwitted the Church and legitimiseriba banking. They imported Jews to conduct riba lending on their behalf in Venice. 18
19. To the Jews riba is only forbidden when lending to other Jews: it is valid when imposed on non-Jews. To the Christian merchants they tell the Church its not them who’s doing it, its the Jews. A happy arrangement to both! This gave birth to riba banking. 19
21. The Jews sit on the floor and write on Benches called “banco” in Italian giving rise to the word Banks as we know today. This practise was brought to our shores by the Western Colonialists and we have adopted it as our own since then. 21
22. Can the world grew to what it is today without ribai.e with Islamic Finance? Most certainly yes. Instead of a world of lenders and borrowers we will be a world of Investors and Entrepreneurs. Economy will be driven by equity instead of debt. Banks will be institutions extending equity, funded by profit and loss sharing depositors. 22
25. Unlike current riba system of collateral and interest based lending which empower crooks; crooks stand no chance of benefitting from strict equity system.
27. 24 Less disparity in income distribution No debilitating economic cycles Ummah and society benefits Give Islam a chance
28. Other issues The rape and theft of our religion and belief by the Colonial western powers. The Islamisation of Knowledge. Sukuk is an Islamic Bond. Is Sukuk James Bond who converted to Islam? 25
29. Elliade in Encyclopedia of Religions 1987 “…this dichotomy between the religious and the remainder of human life is a Western product and concern…..This distinction between the sacred and the profane, between religion and other aspects of human endeavour is a result of the process of secularization that has been the experience of Christian/Western civilisation especially since the 17th century.” 26
30. Birth of Secularism The Christians sacked their scholars in the 17th century, divorced religion from the rest of their lives in toto, and created the new religion called secularism. 27
31. Christian’s view of religion today Watt 1979 “…….means a way of spending an hour or so on Sundays in practices which give him some support and strength in dealing with the problems of daily life, and which encourages him to be friendly towards other persons and to maintain standards of sexual propriety; it has little or nothing to do with commerce or economics or politics or industrial relationships……or may even look on religion as an opiate developed by exploiters of the common people in order to keep them in subjection.” 28
35. religion for infantile man; science for modern man.How does this compare with our own beliefs on religion? Why is it so similar? 29
36. Answer : The western colonialists came to our shores and not only they raped us of our natural resources ; they also raped us of our religion and beliefs. Sure, they did not convert us to Christianity but they left our religion diluted enough to mould us to their cause. They preached and imposed Secularism and we became champions of Secularism 30
37. 31 And the process continues till today with our children with the western beliefs implanted in our education system they left behind, and which we so religiously uphold ( pun intended)
38. What was the Islam we were robbed of? Islam is DIN Watt 1979 “…..whole way of life….covers both the private and public/societal lives of man, it permeates the whole fabric of society. And include theological dogma, forms of worship, political theory and a detailed code of conduct, including even matters which the European would classify as hygiene or etiquette……” 32
42. way/customThe religion of Islam is the willing and conscious submission to God to ‘pay back our debt’ for our existence 33
43. AlHijr 28-29 Behold! Thy Lord said to the Angels : I am about to create man, from sounding clay from mud moulded into shape. When I have fashioned and breathed into him my spirit, fall ye down in obeisance to him. 34
44. AlBaqarah 31 And he taught Adam the names of all things…. AlTin 4 We have indeed created man in the best of moulds 35
45. AlDhariyat 56 I have only created Jinn and Man so that they may serve me AlBaqarah 30 Behold! Thy Lord said to the angels: I will Create a viceregent on earth Cannot be khalifah unless you are first and foremost an ‘abd. 36
46. Nasr 1990 “There is no more dangerous creature on Earth than a Khalifah Allah who no longer considers himself to be an ‘Abd Allah. 37
47.
48. Vision of Islam became clouded with the alien vision brought with the colonizers…stayed primarily through education system.38
49. The problemThe main locus and core of the malaise of the ummah is the prevalent educational system. It is the breeding ground of the disease.Done injustice to Islamic educationIslamic vision not taught to all students as western tradition is taught to high school students in the west i.e. with consistency, universality, utmost seriousness and commitment. 39
50. The task1. Solving the problem of education….uniting the two systems of education based on the vision of Islam at all levels. 2. Instilling the Islamic vision via a. a compulsory study of Islamic civilization and b. through the Islamization of modern knowledge based on unity of Allah, creation, knowledge, life and humanity. 40
51. Islamization of Modern KnowledgeMaster modern knowledge,then integrate the new knowledge into the corpus of the Islamic legacy by - Eliminating- Amending- Reinterpreting- AdaptingIts components as the world view of Islam and its values dictate.. 41
52. Prof. Al-Attas, Islam and Secularism (1978)The Dewesternization of KnowledgeGreatest Challenge for Muslims is the challenge of knowledge as conceived and disseminated throughout the world by western civilization. Knowledge that is infused with the character and personality of western civilization …interpretation through western worldview.Two steps1. Isolate the elements, including key concepts which make up western culture and civilization2. Islamization i.e. after isolation, we infuse the key concepts with Islamic elements and concepts 42
53. Example of Modern knowledge infused with Western beliefs : Economic theories premised on riba as a key factor Accounting postulates and principles that goes against tenets of Islam Law textbooks which totally ignore Shariah Limited liability concept which allows Man not to honour his debt 43
54. 5) Limited liability companies that does not define Shariah relationship between Shareholders, Board and Management. 6) Biology textbooks that teaches man descended from Apes 7) Medical textbooks that denies existence of our Creator. 8) Theory building based on rationale and observation only, ignoring totally guidance from God from Quran and Sunnah. 44
55. Objective of Islamisation of Knowledge: To produce textbooks infused with the Islamic World view. To acknowledge the role of Allah swt and give thanks to Him as the ultimate owner of knowledge and all creations. 45
56. The Task The Problem Malaise of the Ummah Uniting the Two Systems of Education The Self Perpetuating Core of the Malaise Instilling the Vision of Islam The Present State of Education in the Muslim World Compulsory Study of Islamic Civilization Islamization of Modern Knowledge The Lack of Vision Mastery of Modern Discipline 1 2 Discipline Survey 3 Mastery of Islamic Legacy: The Anthology 4 Mastery of Islamic Legacy: The Analysis 5 Establishing the relevance of Islam to the Discipline Critical Assessment of the Modern Discipline 6 7 Critical Assessment of Islamic Legacy 8 Survey of the Ummah's major Problems Survey of the Problems of Humanity 9 Creative Analysis and Synthesis 10 11 The University Textbook Dissemination of Islamized Knowledge 12 46
57. 47 Is the Islamisation of knowledge not also our fight? To create textbooks that recognises and show gratitude to our Creator ? To rid the planet of the scourge of riba? Are these not also our fight to uphold our Covenant as the Viceregent and Abd’ of Allah?
59. 49 Anyone who wants a copy of this Presentation please send an email To zaziz@hotmail.com (no copyright ; please distribute freely) Muhammad Zahid Abdul Aziz Director, Muamalah Financial Consulting Sdn. Bhd. Website http://muamalahconsulting.tripod.com