Advantages Of Sukuk In Islamic Capital Market

A rule making body issues authorative shari’a auditing standards for all Islamic banks and other Islamic businesses and it will be the most effective way to eliminate problems within the Islamic economy. The most effort to develop a body of consistent standards for shari’a audits has been undertaken by

Islamic finance within compliance of Sharia law form the core of Islamic banking and have become one of the fastest growing segments of the financial industry, operating in over 75 countries (Cihak,Hesse2008). Islamic finance initially was concentrated in the Middle East and South East Asia, but is now found globally. The roots of Islamic finance stemmed from the efforts of Islamic scholars to identify alternatives to the interest based system that is prohibited and condemned by Allah within the Quran. Islamic finance also prohibits the practice of lending money for investments in tobacco, alcohol, gambling and weapons per Sharia law. In the wake of the global financial crisis however, there has been a renewed interest on the

For years the nurture versus nature debate has been argued by people around the world. Mental disorders are one of the main topics discussed among these people. Mental disorders apply to many mental health conditions that can affect someone’s emotions, logic, and attitude. According to The Kim Foundation, 26.2 percent of Americans who are 18 or older suffer from

The American Psychiatric Association (APA) added post-traumatic stress disorder (PTSD) to their third edition of its Diagnostic and Statistical Manual In 1980. PSTD was popularized as an adversity but since then the psychiatric theory and practice gap has been filled. PTSD was considered a traumatic etiological (individual) occurrence as oppose to a hereditary occurrence (Friedman, 2015). Post-Traumatic Stress Disorder (PTSD) is a health psychology topic that needs to be discussed more than it is. PTSD stems from an event that has taken place in a person’s life such as an act of violence, car accident, or a natural disaster. Experiencing such events as these can have a deep impact on a person’s life. These events can be identified as an isolated

The fourth Gospel, book of John, has been attributed to the apostle John (Harris, 2011, pg. 232). The apostle John was the son of Zebedee, and brother of James which are fishermen. They created a circle, including Paul and followed Jesus closely throughout all his transgressions. It was not until years later, leading churchmen accepted as John’s composition (Harris, 2011, pg. 233).

Recently, Shari’ah has been synonymously connected to the word terrorism. Shari’ah invokes fear amongst western countries, like Australia for its Hudud Law. Muslims have been under constant vilification causing the hostile of Muslim due to political and public discourse. Many people believe that Shari’ah is a fixed set of laws for all context and concepts. Plainly, shari’ah is tangible and under context development. Facts are that shari’ah is reduced an archaic and a barbaric set of rules. Leading to questioning of their loyalty, their capacity to integrate with secular law and being titled under extremism and terrorism. However, people as Peter Costello, do not understand that Shari’ah consist of 70 percent laws pertaining to worship, 25 percent

Sharia law is an ancient compilation of religious rules that most Muslim nations seek reference in governing their people. Also defined as Islamic law, the essence of sharia laws emanated from the life of Prophet Mohammed known as the hadiths as well as the Quran teachings. The hadiths entail the vocal expressions of prophet Muhammad on divine life and his condemnation of immoral behavior that undermine the acceptable way of life. The teachings are accepted by the Muslim community who affirm that Muhammad’s teachings supplement the functionality of the Quran. On the other hand, the Quran, which forms the core reference on Muslim beliefs and regulations provides moral and spiritual guidance among the Muslims. It also dictates how the Muslims should interact with the non-Muslim community without contravening on the sharia doctrines (Hallaq 20-25).

The Islamic finance industry has been evolving and growing rapidly for the past decade. The recent global financial meltdown has open opportunity to Islamic finance to offer a new outlooks and effective solutions to economics problems. Economists are now looking to the east, learning lessons and seeing advantage of Islamic finance. Since then, serious research on Islamic financial system has been carried out and Islamic financial system has been an interesting area of discussion.

Becoming an expert in Islamic economics and finance field is one of my long-term goals in life. I started to organize and made a plan towards achieving that dream since senior high school. The concern towards Islamic economics and finance concept, and its application for society and the country began when I was reading a book entitled Islamic banking-theory and practice. After finishing reading the book, my interest in Islamic economic and finance topics rose and strengthen my own determination to become the expert of Islamic economics and finance. The main principle of Islamic economics and finance which offers the just and ethics in economic activity, poverty alleviation through income distribution mechanism, and prevention of economic and

Sejak awal kelahirannya bank syariah dilandasi dengan kehadiran dua gerakan renaissance Islam Modern: neorevivalis dan modernis, tujuan utama dari pendirian lembaga keuangan berlandaskan etika ini, tiada lain sebagai upaya kaum muslimin untuk mendasari segenap aspek kehidupan ekonominya berlandaskan Al-Qur’an dan As-Sunnah. Upaya awal penerapan sistem profit dan loss sharing tercatat di Pakistan dan Malaysia sekitar tahun 1940-an, yaitu adanya upaya mengelola dana jamaah haji secara non-konvensional. Rintisan institusional lainnya adalah Islamic Rural Bank di desa Mit Ghamr pada tahun 1963 di Kairo, Mesir.

Researcher wanted to know more on the issue of issuance that mostly effecting on the industry player of Sukuk.

Development of the Islamic equity market typically involves having in place a Sharī`ah stock-screening process which facilitates the identification of Sharī`ahcompliant stocks and therefore attracts wider participation from investors that seek Sharī`ah-compliant products. At the same time, it can facilitate the construction of Islamic equity indices.

In addition, Islamic bonds are still far superior as compared to conventional binds, underpinned by the following factors: • Fairness and transparency. The financier and customer share the risks and rewards based on an agreed profit-sharing ratio. The roles and responsibilities of the parties to a contract are also explicitly disclosed and transparent. Asset-backed transactions. Islamic financial transactions must be backed by an underlying tangible asset or legitimate productive activity. This discourages over-exposure of the financing facility beyond the value of the underlying asset, and hence provides continuous security to the investors Ethical investment. Islamic finance prohibits the charging or paying of interest, and imposes restrictions on unethical and speculative financial activities

Functions and governing modes are stood on Shariah and Islamic banks must make sure that all business actions are conforming to shariah necessities.

It regulates public and private behaviors and actions of people” (Mulcahy). Sharia law consists of an exceptionally broad topic span and has been interpreted many ways, especially on unclear points. Mulcahy said “Although the word of Sharia cannot be altered, like any other religious text it should not be interpreted word for word. This has obviously not been the case and has led to religious extremism and a strong split between Muslims”. The rules of Sharia are single-handedly what distinguish Islamic Accounting from other methods.