May 20, 2018
The following are the accounting definitions in a general conceptual framework of an Islamic bank’s financial statements. Assets An asset is defined as having possession of […]
May 15, 2018
Conventional accounting provides information related to financial position, operations, and cash flows about an entity to allow interested parties to make informed decisions about the entity. […]
May 5, 2018
Shari’ah Boards perform the all-important role of reviewing, approving, and overseeing the services and transaction of an Islamic bank. The boards consist of recognized scholars who […]
May 1, 2018
A functioning economy requires a stable and reliable banking and financial services sector. Banks cannot be relegated to a totally laissez-faire market where all transactions are […]
April 1, 2018
Sukuk are Islamic equivalent of fixed income bonds found in the western markets. Shari’ah scholars have varying opinions about legitimacy of Sukuk structure in Islam. This […]
March 31, 2018
Islamic funds maintain a committee of scholars who work independent of the fund managers and advise the managers about Shari’ah compliance of various securities. The opinion […]
March 30, 2018
A Western Ethical Fund invests in companies based on certain principles which include positive contribution to the world and avoids those companies which are harmful. Before […]
March 30, 2018
Shari’ah scholars are almost unanimous in approval of investing in equity shares of joint stock companies as long as these companies are not involved in any […]
March 20, 2018
Venture capital (VC) companies and funding mechanism have much similarity to Mudarabah and Musharakah Islamic investment contracts offered through Islamic banks. Both VC and Islamic banks […]