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could be described as follows: a) to identify the key forms of loans available in the context of the Islamic banking system, b) to evaluate the performance of loans provided by the Islamic Financial Institutions; suggestions are also made for the potential increase of the performance of the specific financial products c) to compare these loans with the loans provided by the Western Banks, d) to locate the advantages and disadvantages of loans in the Islamic Banking System, e) to identify the effects of the global financial crisis on the rate of financing by Islamic Banks and f) to identify and analyze the role that Islamic banking can have in the limitation of the effects of recession.
The research methodology employed in this study will have two different forms: the literature review will be used in order to identify the views of academic researchers on the study’s subject; on the other hand, the empirical research will be used aiming to retrieve information on the current aspects of the study’s issues. The empirical research developed in the context of this study can be distinguished in two categories: a) qualitative research, i.e. reference to case studies; the modes of financing provided by specific Islamic banks will be presented and analyzed; b) apart from the case study analysis, a survey will be conducted in order to retrieve the views of the public on the loans provided by Islamic banks worldwide; employees in Islamic banks worldwide will be asked to state their view on the performance of loans provided by their Banks; the survey will be conducted through the Internet.
The types of loans available in the context of Islamic Banking System are specific; Iqbal et al. (2002) refers to the following types of loans: ‘a) educational loans, b) gold loans – for securing gold, and c) surety loans, which are loans against personal security of two signatories’ (Iqbal et al., 2002, p.176). In accordance with Schoon (2009) the main difference between the
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“Malaysia, a middle-income country, has transformed itself since the 1970s, from a producer of raw materials into an emerging multi-sector economy. Under Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020, and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services”1 In the year 2007, Malaysia’s economy was the 3rd main financial system in South East Asia, and the 28th biggest economy in the world, by purchasing power parity among gross domestic products for the year 2008.
Due to these restrictions, there had been the emergence of countertrade and barter trade in the guise of international trade. According to Schmitthof 1 , under the barter system, there is the flow of trade concurrently under spot transaction where there is no association of foreign exchange between two parties or two nations.
The main products that the above firms deal in are pensions, savings, mortgages, loans, insurance and investment options and credit card services (Morley, 1992). It is therefore not surprising that some of the biggest earners in the world are financial institutions, making the sector one of the most lucrative and competitive one in the world economy (Acharya & Richardson, 2009).
According to the paper HDFC bank mainly provides service in wholesale banking, retail banking and treasury services undertaken by the company. In the whole sale banking the target customers of the bank are the blue chip companies, small-mid sixed companies and the business related to agriculture. The kinds of services provided to these customers are trade services, working capital management, cash management and transactional services.
Walter therefore has unlimited liability on the debts of SE Pty Ltd and his property are not property of the company. At the same time the property of the company are not personal assets of Walter. 1a. The bank has an obligation to lend to SE Pty Ltd. This is because as the manager of SE Pty Ltd, Walter has the ability to negotiate for a loan for the interest of the company even though the money lent is not his own (Bateman & Paul, 2002).
The definition of the concept is extremely simple and fails to portray an understanding of its application in the wider context. The concept being simple and inadequate has still been used on various occasions along with quotations by the International Court of Justice2.
Kant opined that people love peace and it can be acquired under a constitutional republic, people are against war, and in favor of peaceful co existence with other countries.
The modern theories on DPT points out: democracies are against war and bloodshed.
Money laundering is a term which is said to have originated from the notorious mafia organization in the United States. During the mafia rule in the United States, prostitution, extortion, illegal liquor and gambling were the money-laundering techniques used by the mafia.