The average Muslim thinks conventional insurance is Haram, Is this true? via Insurance: Halal or Haram? — Practical Islamic Finance Advertisements
CMS Legal Turkey September 29 2017 Purpose and scope of the regulation The Regulation on the Operational Procedures and Principles of Participation Insurances’ (“Regulation”) was published in the Official Gazette on 20th September 2017 and will enter into force on 20th December 2017. The regulation aims to provide a formal legal framework for participation insurance… Continue reading Participation Insurance (Takaful): An Alternative to Conventional Insurance — The Muslim Times
Definition and classification of Musharakah The literary meaning of Musharakah is “sharing”. The root of the term “Musharakah” in Arabic comes from the word “Shirkah”, which means ‘being a partner’. Under Islamic jurisprudence, Musharakah means; “a joint enterprise formed for conducting some business in which all partners share the profit according to a specific ratio […]… Continue reading MUSHARAKAH — Ace Group
Kenya is the latest African country to join the bandwagon of countries wishing to issue a Sukuk and create a regional hub for Islamic financial services. With this in mind an Islamic Finance Project Management Office (PMO) has been set-up, which encompasses the Capital Markets Authority and other financial services regulators in December 2015. The… Continue reading IFN Country Feature: Kenya Emerging landscape of Islamic finance in Kenya By Mohamed Ebrahim
TECHNICAL ALERT International Financial Reporting Standard (IFRS) 15 Revenues from Contracts with Customers sets out the requirements for recognising revenue that apply to contracts with customers, except for those covered by standards on leases, insurance contracts and financial instruments. IFRS 15 supersedes IAS 11 Construction Contracts and IAS 18 Revenue and is applicable for periods… Continue reading IFRS 15 REVENUES FROM CONTRACTS WITH CUSTOMERS
After knowing where your money is going, the next very important step is to know your NET WORTH (that is what you already own (Assets) subtract what you are owed (Liabilities). This will guide you to meet your financial and personal goals in life. Knowing your current net worth is important in order to track… Continue reading Know your net worth – as you find out and analyse where you money is going.
In an Islamic Commodity fund, the funds raised from investors are used in purchasing different commodities for the purpose of their resale at a profit. The commodities could be Gold, Silver, Grains, Sugar, Rice, Tea, coffee, beef etc, which are tradable in recognised commodity exchanges like Dubai Multi Commodity exchange etc. The profits generated by… Continue reading Islamic Sharia Compliant Investment Funds – Blog Series No. 3 Types of Funds – Islamic Commodity Funds