CONCEPT OF MUDHARABAH Says mudharabah derived from the dharb (ضرب) which means hitting or running. The definition of hit or run this meaning is the one stamp their feet in running order. The contract called mudharabah, as workers (mudharib) usually requires a trip to do business. While traveling in the Arabic language is also called dharb fil Ardhi (في الأرض ضرب). In Iraq (the Iraqi people) named mudharabah, while the population of the Hijaz called qiradh. Qiradh derived from the word al-qardhu, which means al-qath'u (deduction) for property owners to deduct a certain amount traded and obtain some benefits. Mudharabah or qiradh including shirkah category. Mudharabah is a contract between two parties where one party provides the capital to another party for investment in commercial enterprise. Profit is distributed between two parties in accordance with the ratio upon which they agree at the time of the contract. Financial loss is borne only by the financier. The investment manager’s loss lies in not getting any reward for his service. In the Quran, says mudharabah not mentioned explicitly in terms mudharabah. The Quran only mentions in musytaq from dharaba said that there are about 58 times. Some scholars give meaning mudharabah or qiradh as follows: a) According to the jurists , mudharabah is a contract between two parties ( persons) each bear , one of the parties to submit their wealth to other parties for trade with a predetermined portion of the profits , such as a half or a third of the conditions specified . b) According to Hanafiyah, mudharabah is “contract of shirkah in return, one of the property owners and the owners of other services”. c) Malikiyah mudharabah is argued that: “Contract of representation, in which a prop... ... middle of paper ... ...erily, ALLAH is oft-forgiving, most-merciful”. TYPES OF MUDHARABAH Mudharabah have two types. There are mudharabah muthlaqah and mudharabah muqayyadah. Mudharabah muthlaqah means the purpose is to form collaborations between capital owners and managers of capital coverage is very broad and not limited by the specifications of the effort, time and the business district. In the discussion of fiqh scholars forbearers sholih often exemplified by expression if'al ma syi'ta (please do as you please) of the owners of capital to capital manager that gives enormous power. Mudharabah muqayyadah means it is type of the opposite of mudharabah muthlaqah. That is capital constrained by the limitations of governors of effort, time or place of business. The difference between them lies in the restriction of the use of capital in accordance with the will of the owners of capital.
I am going to critically review a newspaper article on the death of Hamzah Khan from Bradford. I will discuss the main findings the research methodology and the way in which it may or may not be useful in the contribution to our understanding of child welfare. I will also include information on child abuse and on the different agencies. The newspaper article is called Hamzah Khan: the harrowing story of an 'invisible' child. (Pidd, 2013)
Baraka Paper The movie showed a group of young boys struggling to live in a rough environment. Each individual has the desire to avoid following the lifestyle of the gangs that were in their neighborhood. The attitudes of most of the boys are clearly influenced by their social contexts. Two of the boys in the movie live with a mother who is a drug addict and has faced jail time due to her drug use.
Senturk, Omer Faruk. A Comprehensive Guide to Zakat Charity in Islam. New Jersey: The Light Inc., 2007.
Rastafarianism is not a very well known religion. However, it is a lot more common than many people think. Although it is an Alternative religion mostly common in Jamaica, it is slowly becoming more popular throughout the world. The religion began in the 1930’s in Jamaica. It has only been 84 years since Rastafarianism first originated, but it has already gained many followers around the world. This religion is mainly about peace, equality, and unity. One might identify a Rastafarian by their long dreadlocks and easygoing personality.
Wadi Al-Salaam cemetery, located in Najaf, Iraq, is the world’s largest cemetery measuring 917 hectares. The cemetery, dated more than 1400 years ago is estimated to hold approximately five million bodies and continues to receive hundreds of bodies every year making it second to no other in the world.
Zakat is mandatory on all Muslims men and women who own a specified limit of wealth, to pay each year a recommended share from capital or savings like farm produce, livestock, business, cash and valuable metals such as gold and silver. The Quran has mentioned Zakat more than eighty times. It is a duty from Allah similar to the duty of ‘Salat’.
In 1979, the first islamic insurance (takaful) company was established. All muslims at that time cannot purchase the conventional insurance products as it involed interest-based transactions,uncertainty, and gambling whi...
"Book 17." Translation of Malik's Muwatta: A'isha `Abdarahman at-Tarjumana and Ya`qub Johnson. Number 17.24.46:. Print.
There are a number of features or principles which are attributable to the Mudarabah contract. These include nature of contract, capital, profit sharing right and treatment of losses.
4. Time Management: Time is crucial. Dabbawalas can’t be late. They have to deliver lunchbox before lunch on given address. Hence, their entire work depends on effective time management. Each task has to be completed within given timeframe. If someone is not able to do so, alternatives are performed immediately.
As the world has recently passed through the global financial crisis that begun in 2008 in the USA with the banks’ collapsing, analysts are giving different opinions and making new economic hypothesizes about the origin of, as well as the process of different countries escaped from the crisis. Among all these new “theories”, the case of Islamic banks is interesting in terms of its nature and consequences. In my essay, I will try to highlight the basic principles of the Islamic finance, the reasons of the restriction of interest, the most important tools used by Islamic banks in economic activities and brief explanation of them, and finally my view point of the probable future improvement of the Islamic financial system.
Another disadvantage for nations in the SADC is the lack of jobs available and growing unemployment rate. Southern African development community SADC business law handbook states, “Unemployment remains high in the region, with less than 49 per cent of the labour force engaged in modern sector employment i.e. non-agricultural wage employment” (Publications, 2007, p. 21). While this has been a goal set in place there obviously has been continued stifled success as AIDS and other deadly diseases have overcome the nations in the SADC and individuals are unable to continue to work and live the lives they once desired. The new goal could be to educate the nations on prevention and take more action to help those who are suffering and find jobs for
Literally zakat means blessing, purification, increase and goodness. Zakat is the third pillars of Islam, it is obligatory upon all Muslims to give part of their wealth and assets once it reaches al-nisab (the minimum assigned) on annual basis or once harvested to the eight categories of people as specified in al-Quran (At Taubah: 60). It is also important to note that zakat has to be paid from lawful wealth and assets and should be obtained through lawful means (Magda & Ahcene, 2011).
...ot achieved , contractors are not allowed to operate freely . And they expect that the government will take resources from the rich and give it to the poor. Therefore, the moral aspects are an essential element of the difference between the market economy and Islamic concepts .