راهنمای می‌زان بانک‌ها برای بانکداری اسلامی

gfgf.pdf 54977354-Usmani-Meezanbank-s-Guide-to-Islamic-Banking.pdf PRINTED AT PUBLISHER AVAILABLE AT P R E F A C E INTRODUCTION TO ISLAMIC ECONOMIC SYSTEM Introduction The economic philosophy of Islam Vis-a-Vis Interest Distribution of wealth Islamic perspective of distribution of wealth 1.The importance of the economic goals 2.The real nature of wealth and property Difference between Islam, Capitalism and Socialism FACTORS OF PRODUCTION IN ISLAM THE CAPITALIST VIEW THE SOCIALIST VIEW THE ISLAMIC VIEW ISLAMIC THEORY Those who have a primary right to wealth Socialism and Islam Islam and Capitalism Money Lending Business THE OBJECTIVES OF THE DISTRIBUTION OF WEALTH IN ISLAM a) The establishment of a practicable system of economy: - b) Enabling every one to get what is rightfully due to him:- c) Eradicating the concentration of wealth: RIBA IN THE QUR'AN RIBA IN HADITH General RIBA AND ITS TYPES Definition of Riba or Interest Classification of Riba Riba An Nasiyah This is the real and primary form of Riba. Since the verses of Quran has directly rendered this type of Riba as haram, it is called Riba Al Quran. Similarly since only this type was considered Riba in the dark ages, it has earned the name of Riba Al Jah “ One of the ahadith quoted by Ali ibn at Talib (RAA) has defined Riba An Nasiyah in similar words. The Holy Prophet
said: “ “ The fact that Riba An Nasiyah is categorically haram has never been disputed in the Muslim community. Wisdom behind the prohibition of Riba An Nasiyah Riba Al Fadl Wisdom behind the prohibition of Riba Al Fadl The laws of Riba Al Fadl COMMERCIAL INTEREST AND USURY THE BACKGROUND OF BOTH TYPES: First School: Argument 1 Argument 2 ANOTHER CLEAR ARGUMENT SIMPLE AND COMPOUND INTEREST ISLAMIC CONTRACT SALE VALID SALE FIVE KHIYARS MUSHARAKAH Definition and classification of Musharakah The basic rules of Musharakah Basic rules of Capital: Management of Musharakah Basic rules of distribution of Profit Basic rules of distribution of Loss Termination of Musharakah Musharakah will stand terminated in the following cases: Termination of Musharakah without closing the business Dispute Resolution Security in Musharakah The difference between interest based financing and Musharakah: ISSUES RELATING TO MUSHARAKAH Musharakah is a mode of financing in Islam. Following are some issues relating to the tenure of Musharakah, redemption in Musharakah and the mixing of capital in conducting musharakah. These were discussed previously, they are explained in detail here. LIQUIDITY OF CAPITAL MIXING OF THE CAPITAL TENURE OF MUSHARAKAH Asset Side Financing Liability Side Financing MUDARABAH Glossary: Mudarib: Working Partner (brings effort) Definition: Types of Mudarabah Investment Distribution of Profit & Loss Roles of the Mudarib: Asset Side Financing Liability Side Financing DIMINISHING MUSHARAKAH House financing on the basis of diminishing Musharakah Steps in detail of the arrangement Diminishing Musharakah for carrying business of services: Diminishing Musharakah in Trade MURABAHA Definition Difference between Murabahah and Sale Arguments against Murabahah Basic rules for Murabahah Step by step Murabahah Financing Issues in Murabahah Basic mistakes in Murabahah Financing SALAM Glossary Purpose of use: Conditions of Salam: Benefits: Parallel Salam Time of delivery ISTIJRAR IJARAH (LEASING) Basic Rules Transferring of usufruct not ownership Subject of lessee All consumable things cannot be leased out All liabilities of ownership is borne by lessor Period of lease Lease for specific purpose Lease of jointly owned property Determination of Rental Lease as a mode of financing The commencement of lease Rent should be charged after the delivery of the leased asset Different relations of the parties Difference between Murabahah and leasing: Expenses consequent to ownership Variable Rentals in Long Term Leases Penalty for Late Payment of Rent Penalty of late payment is given to charity Termination of Lease Insurance of the assets The residual value of the leased asset IJARAH WA IQTINA (LEASING AND PROMISE TO GIFT) Sub-Lease Assigning of the Lease THE FEATURES OF A CONVENTIONAL BANK Deposits (The liability side) Conclusion Role of the Bank as Guarantor Advisory Services MUSHARAKAH IN BANK DEPOSITS In the previous chapter, following facts have been established: The actual status of deposits is debt and not amanah. The excess paid on loan is interest, not profit. The shareholders will act as Rubb-ul-mal as well as Mudarib. The depositors will only act as Rubb-ul-mal. Fixed deposit and saving account will be converted into Mudarabah account where the distribution of profit for each partner will be determined in proportion to the actual profit accrued to the business and not according to a fixed ratio or in proportion DISTRIBUTION OF PROFIT UNDER MUSHARAKAH AGREEMENT RUNNING MUSHARAKAH ACCOUNT ON THE BASIS OF DAILY PRODUCTS: PROJECT FINANCING Financing of a single transaction WORKING CAPITAL FINANCING IMPORT FINANCING Musharakah /Mudarabah: Murabahah: EXPORT FINANCING Pre Shipment Financing: Musharakah / Mudarabah: Murabahah Post Shipment Financing: SECURITIZATION Securitization of Musharakah Securitization of Murabahah Securitization of Ijarah ISLAMIC INVESTMENT FUNDS Equity Fund Ijarah Fund Commodity Fund Murabaha Fund Bai-Al-Dain Mixed Fund THE PRINCIPLE OF LIMITED LIABILITY 4. Inheritance under debt The limited liability of the master of a slave