M.Umair.Khan

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A Comparative literature survey on Islamic Finance and Banking INTRODUCTION Islamic finance was practiced predominantly in the Muslim world throughout the middle ages.  European financiers and businessmen   later adopted many concepts, techniques, and instruments of Islamic finance. In contrast, the term ‘‘Islamic financial system’’ is relatively new, appearing only in the mid-1980s. In fact, all earlier references to commercial or mercantile activities conforming to Islamic principles were made under the umbrella of either ‘‘interest free’’ or ‘‘Islamic’’ banking. This, no doubt, prohibits  the receipt  or payment  of interest as the  nucleus  of the  system, but  is supported by other  principles  of Islamic doctrine  advocating  risk sharing, individuals’ rights and duties,  property  rights, and  the  sanctity  of  contracts.   Similarly, the Islamic financial s...

حدیث نبوی ﷺ ’’ ماں باپ کو محبت بھری نگاہ سے دیکھنا بھی عبادت ہے‘‘ ماں اللہ تعالیٰ کی سب سے بڑی نعمت ہے۔ماں کا لفظ بولتے ہی ٹھنڈک اور سکون کا احساس رگ وپے میں اترجاتا ہے کیونکہ ماں مجسم دعا ہے ۔ماں کے قریب آتے ہی یہ احساس ہوتا ہے کہ ایک خوف زدہ ڈرا سہما معاشرے کا ستم رسیدہ کوئی شخص ایک بہت ہی نرم وملائم، آسودہ، آرام دہ اور محفوظ پناہ گاہ میں آگیا ہے۔ماں دنیا کا وہ واحد رشتہ ہے جو اپنے بچے کے غم جھولی میں سمیٹ کر آسودگی محسوس کرتی ہے۔دنیا کے ہر رشتے میں تھوڑی بہت خود غرضی ہوسکتی ہے لیکن ماں کا رشتہ واحد رشتہ ہے جوہر غرض سے خالی ہوتا ہے۔ اسلام نے بھی ماں کو بہت اونچا مقام دیا ہے۔ایک مرتبہ ایک شخص نے رسول اللہ صلّی اللہ علیہ وسلم سے پوچھا کہ میرے حسن سلوک کا سب سے زیادہ مستحق کون ہے؟۔آپ صلّی اللہ علیہ وسلم نے فرمایا:’’تیری ماں‘‘ اس نے پوچھا:’’پھر کون؟‘‘آپ صلّی اللہ علیہ وسلم نے فرمایا:’’تیری ماں‘‘اس نے تیسری بار پوچھا:’’پھر کون؟‘‘آپ صلّی اللہ علیہ وسلم نے فرمایا:’’تیری ماں‘‘ چوتھی بار پوچھنے پر آپ صلّی اللہ علیہ وسلم نے فرمایا:’’ تیرا باپ‘‘ ایک صحابی رسول اللہ صلّی اللہ علیہ وسلم کی خدم...

Introduction   Islam is the religion and way of life that was revealed to humanity by our creator, Allah (swt) .Since Allah (swt) is the one who created the heavens and the earth, and out of His unlimited mercy to mankind, He also revealed to us a way of life and a religion, Islam, that give us peace and happiness in our lives here on earth and in the afterlife. Islam was revealed as a practical religion that covers all aspects of our lives, and it is intended to be implemented in our lives. It brings peace and justice to earth, after all, who is more just and wise than Allah (swt), the creator of the heavens and the earth, the most knowledgeable? As such, when implemented honestly and correctly, Islam provides solutions to all problems that are faced by humanity. One of the most widespread and dangerous problems faced by humanity is that of poverty, hunger and starvation. There is nothing more horrifying than the realization that as we live our happy lives here, millions of...

WHAT IS ISLAMIC BANKING Islamic Banking is defined as the banking system that is based on the principles of Islamic law (also known Shariah) and is guided by Islamic economics. The two basic principles behind Islamic banking are : 1.   The sharing of profit and loss 2.    Prohibition of the collection and payment of interest. Islamic banking has been defined as banking in accordance with the philosophy and the value system of Islam. This type of banking’s concept is not use any instruments which consist of interest. Islamic banking, the more general term is expected not only to avoid interest-based transactions prohibited in the Islamic Shariah but also to avoid any unethical practices . However Islamic Shariah prohibits ‘interest’ but it does not prohibit all gains on capital. This system is based on risk-sharing, owning and handling of physical goods, involvement in the process of trading, leasing and construction contracts using various Islamic modes of ...