Islamic Finance - Essay Example

Only on StudentShare

Extract of sample
Islamic Finance

The paper tells that despite the upheavals and mayhem that exists between the Islamic world and the United Kingdom, as peculiar as it may seem, it is wise to say that Islamic banking and finance has found its way in the United Kingdom. Islamic finance is the basis of Islamic banking system. Laying its foundation on the rules and principles of Sharia, commonly known as the Islamic law, this offers Islamic finance its very unique and competent features. As much as Islamic Banking has its challenge and opportunity, many western bankers have sort to involve themselves in this growing business. Their guiding principles and rules state that Allah owns everything in this world and that man has only been rendered permission to use it. In the United Kingdom, London has emerged itself to be the core ad centre of Islamic banking. In the United Kingdom, a decade ago, the business was perceived to be in its infancy this being the reason as to why its extent is limited. A decade later, Islamic banking and finance has prevailed in the United Kingdom due to its unique characteristics. One of the most distinct characteristics that have made Islamic banking and finance business to grow is the fact that Islamic banking does not offer interests, which is commonly referred to as riba in the Islamic world. The reward for money deposited as perceived is done by not charging or paying interest. As a way of curbing the loss and profits occurred, Islamic banking use the technique of sharing both the profit and loss occurred. ...Show more

Summary

This study looks into the Islamic banking and financial systems that lack contract standardization and the instruments to go against the currency’s volatility. The issue of the industry also lacking a lot of professional on the supervision and industry level also contributes to a major down fall…
Author : parisiandallas
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Islamic Finance "
with a personal 20% discount.
Grab the best paper

Related Essays

The Lack of an internal audit department in a company called Mawarid Islamic finance in the UAE
The researcher will discuss a problem in a company in a certain industry. The researcher will provide a proposal in which he will argue about the problem, afterwards he will present researches on the effect of that problem on the company and ways on how to solve the problem, finally he will present the outcome of the research including ways on how to overcome this problem.
17 pages (4250 words) Research Paper
Islamic Financial System as an Effective Planning & Control Framework in Kuwait
The process of planning is considered to be quite integral for organizations as it aids the organizations in establishing its intentions and objectives along with ascertaining the ways of attaining them. The functions of planning along with control assists in building extensive principles or instructions for the reason of ensuring the appropriate distribution of the accessible resources with regard to the organization.
15 pages (3750 words) Admission/Application Essay
Exploring the opportunities and challenges of developing Islamic Financial Services in Seychelles
Kettell (2011) further elaborates the concept of Shariah as the path not only leading to Allah (the Arabic word for God) but the path believed and followed by all Muslims to be the path directed and shown by Allah through His Messenger, the Last Prophet Muhammad (Peace be Upon Him) (p.13).
40 pages (10000 words) Literature review
Current Issues in Islamic and Finance: Resilience and Stability in the Present System
Both forms of methodologies have their uses, but this analysis will use essentially a qualitative method. A survey strategy will be employed in order to secure the necessary numerical data pertaining to the challenges and opportunities posed by Islamic banking practices – especially in terms of adapting these practices to the Seychelles island chain.
29 pages (7250 words) Dissertation
Islamic Banking
In order to provide the mentioned topics above, different studies and empirical evidence have been provided in the report. Islamic Banking a) Before proceeding with the origins of Islamic Banking, it is necessary to be familiar with the definition of Islamic Banking.
6 pages (1500 words) Essay
Internaional Accounting
It is also a culturally rich country which initially was under a powerful dynasty and had its own cruel leader. However, now it is a stable economy with its own Constitution. The head of the state is called the President and that of the Government is known as the Premier.
6 pages (1500 words) Essay
Five essays in "Legal and Regulatory Issues in Islamic Banking and finance"
In order that the Islamic banking system fully utilize its potential, it is preferable that Islamic banks have the opportunity to work as the sole system in an economy, as studies show that Islamic banks cannot, relatively, operate with full efficiency under a conventional banking framework especially the case of Islamic windows which exposed to close out in Qatar for example.
5 pages (1250 words) Essay
Islamic Finance
Emergence of Islamic banking and economic system can be justified by the major economic failures of capitalism (BATRA, 1990). Decision making in capitalism if considered by individual’s opinion to rationalize his demands is definitely more in capitalism than communism.
6 pages (1500 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT