Displaying items by tag: Profit and Loss

Thursday, 17 January 2013 14:53

Use of interest rate benchmarks for determining profits on Islamic sukuk

“Benchmarking” in Islamic finance is a method of predetermining the magnitude of profits paid by issuers of Islamic sukuk (certificates of investment) to investors. Benchmarking is done by linking investors’ profits to an interest rate, usually Libor (London Interbank Overnight Rate). Normally, a few basis points are added to the reference interest rate to arrive at the benchmarked profit rate.......... Download the full article in pdf attachment (below)

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Friday, 14 September 2012 15:38

Pitfalls of interest-riba (revised)

Lending at interest has several significant, albeit infrequently noted, shortcomings. It contributes to inflation and widens the gap between the wealthy and the less well to do. Interest-based lending adds to inflation in at least two ways. A substantial amount of spending is financed by money borrowed at interest. Household, corporate and government debt levels are at all time highs in many countries. The extra demand for goods and services, made possible by borrowing, adds to “demand pull” inflation.......... Download the full article in pdf attachment (below) [revised 21April2012]

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Thursday, 13 September 2012 16:45

Transforming interest based financing into PLS

The fundamental inefficiency of interest-based financing means that the typical economy will unavoidably operate at below full employment capacity. In other words, it will only be able to produce a lower than potential output. This signifies a degree of waste. As a result of artificially depressed levels of overall production resulting from the utilisation of interest-based financing,........Download the full article in pdf attachment (below)

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Tuesday, 14 August 2012 11:02

Commitment and belief

WILL the "truth" set Islamic banking free from the "cheer-leading reins" that may be holding it back from authenticity-cum-innovation? Today, Mushtak Parker provides his insights on a successful Islamic banker and institution and some of the milestones of the industry.......Download the full article in pdf attachment (below)

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Thursday, 02 August 2012 13:59

Interest-based financing and The sharing of wealth

Equitable sharing of wealth brings a number of advantages. When wealth is shared equitably – in other words justly – all members of society are able to gain and keep some wealth. Thus, everyone has a reason to become and remain a content member of that society. This contributes to peace. A community is bound together more firmly when wealth is shared than when it is distributed unevenly......Download the full article in pdf attachment (below)

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Wednesday, 25 July 2012 14:29

Stabilising economic activity with profit and loss sharing

Economic instability invariably causes hardship and moreover reduces the efficiency, in one way or another, with which resources are allocated. A significant degree of instability, as is widely believed, is caused by fluctuations in aggregate demand. However, much instability is also caused by interest-based financing. Economic instability commonly causes a range of inefficiencies, in one form or another............. Download the full article in pdf attachment (below)

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Tuesday, 17 July 2012 14:36

Finance: Islamic and conventional

“Finance” has both a theoretical and a practical meaning. In the theoretical sense, finance is the knowledge of acquiring and allocating (utilising) funds, public as well as private. In the practical sense, finance is the management (earning and spending) of funds to achieve specific objectives, personal or social............ Download the full article in pdf attachment (below)

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Thursday, 10 November 2011 13:12

Islamic Finance in Malaysia: Achievements and Challenges

A Keynote address, “Islamic Finance in Malaysia: Achievements and Challenges”, - Tan Sri Zarinah Anwar, Chairman, Securities Commission Malaysia, 10 November 2011......... Download the full article in pdf attachment (below)

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Monday, 30 April 2012 11:31

Asset-backed vs asset-based sukuk

Sukuk are Islamic certificates of investment. They signify co-ownership of productive resources, known as the “underlying assets.” Because income to sukukholders is generated by trading or real investment rather than mere lending, sukukholders earn profit rather than interest. As co-owners of productive assets, sukukholders face the risks of ownership. In particular, they face the risk that their assets may not generate profits or that may even incur losses. They also face the risk that the assets may be damaged or destroyed completely........... Download the full article in pdf attachment (below)

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Wednesday, 16 May 2012 10:49

Building Blocks of Islamic Finance: Regulation and Shariah in Perspective

The world in general is in search of a better financial system that, among others, can ensure more stability, efficient allocation of resources, just distribution, responsibility of investors, risk sharing, sustainability, entrepreneurship and innovation.......... Download the full article in pdf attachment (below)

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Sadly, not a day passes that we do not hear of acts of violence, conflict, kidnapping, terrorist attacks, killings and destruction, it is horrible that at times, to justify such barbarism, the name of a religion or the name of God himself is invoked. – Pope Francis addressed the representatives of different religions at Vatican City, November 2016

The sage is self-effacing and scanty of words. When the task is accomplished and things have been completed, all the people say, "We ourselves have achieved it!" – Chinese Text, Tao Te Jing

Food is the chief of all medicines. – Indian Text, Upanishads

One on tip-toe cannot stand. One who parades his own success will not endure. – Chinese Text, Tao Te Jing

It is the fate of every truth to be the object of ridicule when it is first acclaimed. It was once considered foolish to suppose that black men were really human beings and ought to be treated as such. – Albert Schweitzer

I asked the tree to speak to me about God, and it blossomed. – Rabindranath Tagore

There is a variety of gifts, but it is always the same Spirit. There are all sorts of services to be done, but always to the same Lord, working in all sorts of different ways in different people. It is the same God working in all of them. – Paul in 1 Corinthians (12:4-6)

The Native American Cree people say, "Only when the last tree has been cut, the last river poisoned, and the last fish caught, only then will you realize that one cannot eat money. – Thomas Menamparampil

The significant problems we face cannot be solved at the same level of thinking we were at when we created them. – Albert Einstein (d. 1955)

I have often regretted my speech, never my silence. – Xenocrates (d. 314 BC)

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. – Sir Winston Churchill (d. 1965)

There is nothing on this earth more to be prized than true friendship. - Thomas Aquinas

He that falls in love with himself will have no rivals. - Benjamin Franklin

The test of a man or woman’s breeding is how they behave in a quarrel. - George Bernard Shaw

Cowards die many times before their deaths; The valiant never taste of death but once. - William Shakespeare

Being deeply loved by someone gives you strength, while loving someone deeply gives you courage. – Dao de Ching by Lao Tzu

A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves. – Dao de Ching by Lao Tzu

Treat those who are good with goodness, and also treat those who are not good with goodness. Thus goodness is attained. Be honest to those who are honest, and be also honest to those who are not honest. Thus honesty is attained. – Dao de Ching by Lao Tzu

People are qualified for civil liberty, in exact proportion to their disposition to put moral chains on their own appetites. It is ordained in the eternal constitution of things that men of intemperate minds cannot be free. Their passions forge their fetters. – Edmund Burke

We live in a wonderful world that is full of beauty, charm, and adventure. There is no end to the adventures we can have if only we seek them with our eyes open. – Jawaharlal Nehru (d. 1964)

Religion is never more tested than when our emotions are ablaze. At such a time, the timeless grandeur of the Law and its ethics stand at our mercy.– Timothy J. Winter (Abdal Hakim Murad)

Every gun that is made, every warship launched, every rocket fired, signifies in the final sense a theft from those who hunger and are not fed, those who are cold and are not clothed. – Dwight D. Eisenhower

Let us always meet each other with a smile, for the smile is the beginning of love. – Mother Theresa

Life is a series of natural and spontaneous changes. Do not resist them - that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like. – Lao Tzu

Progress is impossible without change, and those who cannot change their minds cannot change anything. – George Bernard Shaw

In the End, we will remember not the words of our enemies, but the silence of our friends. – Martin Luther King Jr. (d. 1968)

You can avoid reality, but you cannot avoid the consequences of avoiding reality. – Ayn Rand, Russian novelist (d. 1982)

The true measure of a man is how he treats someone who can do him absolutely no good. – Samuel Johnson, English writer (d. 1784)

A people that values its privileges above its principles soon loses both. – Dwight D. Eisenhower (d. 1969)

Justice, mercy, wisdom, righteousness and common good are the basics of Islam. Whatever gets out of justice to injustice is not from Islam. Whatever gets out of mercy to violence is not from Islam. Whatever deviates from common good to harm is not from Islam, and whatever dissents from wisdom to imprudence is not from Islam. – Ibn al-Qayyim al-Jawziyyah

It is reported that Imam Abu Hanifah was passing through the bazar and a small amount of mud fell on his clothes. He went to the local river and washed it. Someone asked him, "O Imam, you say a certain amount of dirt is exonerated and yet you are washing a little mud!" The imam replied, "Yes that was fatwa and this is taqwa." – Fariduddin Attar

For every sin but the killing of Time there is forgiveness. – Essential Sufism

Enlightenment must come little by little, otherwise it would overwhelm. – Idries Shah

To let go of attachments and belongings doesn’t mean you should own nothing. It means nothing should own you. – Ali ibn Abi Talib (RA)

Hearts are vessels of God on earth. And the most beloved heart to Him is the one most clean, pure and pristine. – Imam Ahmad ibn Hanbal

Knowledge is not what is memorised. Knowledge is what benefits. – Imam Shafi’i

Learn to be quiet just as you learn to talk, because if talking guides you, being quiet protects you. By being quiet, you attain two characteristics: you are able to take knowledge from those more knowledgeable than you and you are able to repel the ignorance of those more ignorant than you. – Ali ibn Abi Talib (RA)

If words come out of the heart, they will enter the heart, but if they come from the tongue, they will not pass beyond the ears. – Al-Suhrawardi (Essential Sufism)

Shall I tell you who is kept away from Hell?...Everyone who is gentle and kindly, approachable and of an easy disposition. – Hadith

God is merciful to those who show mercy to others. – Hadith

A moment of patience in a moment of anger saves a thousand moments of regrets. – Ali ibn Abi Talib (RA)

Lead such a life that, when you die, the people may mourn you, and while you are alive they long for your company. – Ali ibn Abi Talib (RA)

Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself. – Jalaluddin Rumi

Power consists not in being able to strike another, but in being able to control oneself when anger arises. - Hadith

The highest status amongst the forgiving is of that person who has all the power to avenge, yet chooses to forgive. – Hussain ibn Ali ibn Abi Talib

Hearts are vessels of God on earth. And the most beloved heart to Him is the one most clean, pure and pristine. – Imam Ahmad ibn Hanbal

To get what you love, you must first be patient with what you hate. – Imam al-Ghazali

To be humble is to accept the truth and submit to it even when you heard it from the tongue of a child, an educated one, or an ignorant person. – Fudhayl ibn Iyadh

Some people have passed away but their characters keep them alive. Others are alive but their character have killed them. – Imam Shafi’i

And still, after all this time, the sun never says to the earth, "Earth! You owe me". Look at the love like that. It illuminates the whole sky. – Hafez

As the very survival of the world itself is perhaps at stake, we Muslims and Christians should let the unpleasantness between us become a thing of the past. - The Grand Imam of al-Azhar, Dr Ahmad al-Tayyeb's speech in Abu Dhabi

Declare your jihad on twelve enemies you cannot see _ egoism, arrogance, conceit, selfishness, greed, lust, intolerance, anger, lying, cheating, gossiping and slandering. If you can master and destroy them, then you will be ready to fight the enemy you can see. – Abu Hamid al-Ghazali

By all means marry. If you get a good wife, you will become happy. And if you get a bad one, you will become a philosopher. – Socrates

Research is what I'm doing when I don't know what I'm doing. – Wernher Von Braun (d. 1977)

Buzi, a native of Zhengxian, asked his wife to make him a new pair of trousers. When asked the style of the new trousers, Buzi said: “Just like my old trousers.” His wife put a few holes in them so they would resemble the old pair.

A man was trapped by a tiger. In an attempt to save him, the man’s son took a cutlass and rushed towards the wild beast. At this juncture, the man shouted at the top of his lungs, “My dear son! My dear son! Attack its feet, not its skin, which is worth its weight in silver!”

At an art gallery, a woman and her ten-year-old son were having a tough time choosing between one of my paintings and another artist's work. They finally went with mine. "I guess you decided you prefer an autumn scene to a floral, " I said. "No," said the boy. "Your painting is wider, so it'll cover three holes in our wall."

I once gave my husband the silent treatment for an entire week, at the end of which he declared, “Hey, we’re getting along pretty great lately!”

They say we learn from our mistakes. That’s why I am making as many as possible. I will soon be a genius!

A men fell on the ground, and soon after fell down again. He said to himself: "Had I known I was going to fall a second time, I would have not gotten up so soon."

A government office issued an urgent document to be distributed among its subsidiaries. To ensure that it would be delivered in time, the messenger was provided with a horse. Running behing the horse, the messenger whipped the horse until it was galloping at full speed. Someone asked him in amazement: "If it's such an urgent mission why don't you ride the horse?" The messenger asnwered: "Running on six legs is certainly quicker than on four, isn't it?"

Hija purchased a sack of flour and hired a labourer to carry it. The labourer ran off with the whole sack. On seeing the labourer after a few days, Hija hid from him. "Why are you hiding from him?" the people asked. He replied, "I fear that he may ask for his wage."

The Ameer of the town appealed for funds to build a wall around the graveyard. Mulla Nasruddin, who was also present, got up and responded: "There is absolutely no need for any wall around the graveyard!"

A Mullah's friend asked the mulla how old are you? Forty replied the mullah. The friend said but you said the same thing two years ago! Yes, replied the mullah, I always stand by my word.

Young man: Ya Shaykh, I have repented, Alhamdulillah, but I cannot forget the woman I love. Shaykh: Pray to Allah using various supplications Young man: Please tell me some that I may use Shaykh: Oh Allah, put Iman in my heart, in my hearing, in my sight and in my path The young man interrupted and said, "Ya Shaykh, the woman that I love is called Iman."

Three people were praying salat in congregation. A man walks by and without knowing they are in salat says, "Assalamu Alaykum". One man in salat says "Waalaykum Assalam". The second person angrily says, "Astaghfirullah, you are not supposed to talk in salat." The third person praying says "Alhamdulillah, I didn't talk."

Here is the story of an Imam who got up after Friday prayers and announced to the people: "I have good news and bad news. The good news is, we have enough money to pay for our new building programme. The bad news is, it's still out there in your pockets".

During a Q&A session, a scholar was asked, "Will we get cigarettes in Jannah?" to which he replied, "Maybe, but you'd have to go to Jahannam to light it".

A man who was an adherent of the Magian religion died and left behind a huge debt. Some of his creditors said to his son, "Sell the house and pay off your father's debt." The son said, "If I sell the house and pay off his debt, will he enter paradise?" They said, "No". He said, "Then leave him wherever he is and leave me in the house."

Hasan bin Sahl asked Dinar bin 'Abdullah,: "What is your religion?" He said, "I never thought that anyone alive would have to answer this question, for it is the question the angels of death, Nakir and Munkar, ask the dead."

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Displaying items by tag: Profit and Loss