This is because the world is advancing in technology, which requires the Islamic Finance to upgrade their systems in accordance with new inventories thus thriving not only in their respective regions but…
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Hence, the present state of this Islamic finance is trying to upgrade and cope up with the economic, banking and finance crisis with trend and advance in technology and it seems it will still be involving from generations to generations.
The view of charging interest on Islamic finance regarding riba is that their basic idea is they like money contribute to this Islamic finance used to develop mosques’ rather than other projects (Swartz, 2011). In accordance to Sharia Islamic religious law riba is considered manipulative and unlawful (Swartz, 2011). In addition, interest from the contributed money is often criticized because perspective view of these whole issues states that it is an effortless profit where the borrower is expected to pay as a form of compensation to the lender. Even in cases like where creditor has right of possession of debtor’s property if he or she is unable to settle the debt. Therefore, riba is an economic issue concerning the Muslims. In the fact, it is unlawful and discouraged in one way or another since the inception of this Islamic finance and still Islam is still withstanding this beliefs. Hence, the major concern in analysis to this monetary transaction is to evade riba despite the reality that it is the foundation to growth in economics, banking and finance (Hart, Childs & Boyle, 2013).
For Islamic finance to grow and develop a strong basis, banks have introduced use of tawarruq and inah to aid in improving Islamic economic, banking and finance with the intention of replacing the old concepts, which are prohibited in Islam. However, this has ignited controversy and criticism for many believe that the dealings are not Sharia compliant citing their argument that there is no main economic activity involved about Sharia law. Therefore, application of tawarruq and Inah banking system in Islamic finance is invalid and in effective. This is because this monetary institution will face an extensive
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It also comprises insurance and renting companies all over the world. Transportation finance had an expectation of improved business conditions (Norton, Diamond and Pagach 245). This expectation was, however, prone to getting the effects of external and internal aspects on their profit margin.
This has resulted in the opening up of economies and market places to various multinational organizations around the world that are increasingly focusing on the process of making large scale investments for the purpose of developing the markets of various emerging economies in order to attain future growth in the marketplace.
Nakheel has successfully completed many world class projects like Arabian Canal, Discovery Gardens, Dubai Waterfront, The Gardens, Ibn Battuta Mall, Dragon Mart Complex, Dubai Design Centre, Jumeirah, The Lost City, The Palm etc. Nakheel has the distinction of adopting innovative approach towards providing unique features to the developmental projects.
Write up also envelops the failure of Islamic banking institutions in some countries. Through the quoted literature, an attempt would be made to trace the growth of Islamic banking in UK finance, the bottlenecks faced by it and what it could learn from case studies of failures to ensure steady growth.
First, the debt to equity ratio is a financial ratio that is used to measure the quantities of a business’s borrowed resources, in relation to the resources owned by the business (McClure, 2011:n.p).
The depositors also receive the share of the profit that is received by the bank, which is based on the pre determined PLS ratio. The Islamic banking witnessed growth since the inception of Dubai Islamic Banks
The modern financial markets, especially the banking sector, have experienced diverse dynamism in the recent past (Barth, Lin and Wihlborg 72). Therefore, it is necessary to conduct effective preliminary research before deciding on where and when to invest.