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New Horizon
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(Issue 60)
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| Comment |
True
Success Still Elusive
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| Feature |
Istisna
- Classical Concept in a Modern Framework
The Islamic Development Bank (IDB) has devised Istisna
as a mode of Project Financing. Dr Mohamed El-Fatih
Hamid, sheds light on the issues involved. Hamid is
the Legal Adviser of the IDB, Saudi Arabia, and discusses
the definition and legal issues in Istisna, the structuring
of an Istisna transaction, the risks involved and the
liability of the seller for defective goods. |
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Islamic
Banking
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Effective
Policies, Moral Values: Pre-Requisites for Islamic Banking
"The pace of progress in Islamising the banking system
in Malaysia and Pakistan needs improving," says the
eminent Islamic Jurist Justice Mufti Mohammed Taqi Usmani,
of the Islamic Fiqh Academy, Organisation of Islamic Conference
(OIC) in Jeddah, Saudi Arabia, and Vice-President of Darul-Uloom,
Pakistan. Interview by Anwar Ahmed Meenai. |
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Profit-Sharing
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Profit-Sharing:
Questions That Need to be Answered
Whether the Shariah allows the practice of using interest
rates to calculate profit-sharing ratios requires serious
discussion. Sudin Haron, Associate Professor of
Banking and Finance, School of Management, Northern University
of Malaysia, looks at the relationship between conventional
banking and the profit-sharing schemes of Islamic Banks. |
| Corporate
Profile |
Bank
Islam Malaysia Bhd - 1996
"During the year ending June 1996, Bank Islam Malaysia
Bhd broadened the scope of its Islamic financial products
and services by introducing products such as Baiti Home
Financing Scheme, Mudaraba Savings Account and Education
Package Financing facilities," according to chairman
Tan Sri Dato Shamsuddin Abdul Kadir. Since its inception
13 years ago, Bank, has relentlessly worked to strengthen
the foundation of its operation as an Islamic commercial
bank," he added.
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| IIBI
Forum |
IIBI
Shariah Scholars provide answers to questions and issues
pertinent to Islamic banking
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| IIBI
News |
Report on Institutes Activities
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| News
Monitor |
New
Horizon reports on recent developments within the Islamic
financial world
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