The Role of Islamic Finance in Economic Stability and Social Justice

One of the most distinguishing times for the US Islamic home financing industry began in February 2007. The Federal Home Loan Mortgage Corporation (Freddie Mac) sent out a press release announcing that it would no longer buy the most risky subprime mortgages and mortgage backed securities. Two months after the announcement, a leading subprime mortgage lender filed for Chapter 11 bankruptcy protection. Three months after that bankruptcy filing, nationwide financing entities warned of "difficult conditions" ahead. Manifestations of such difficult conditions appeared on the horizon of the financial market when once well-established mortgage companies suddenly began to file for Chapter 11. Similar circumstances reached the UK as the Bank of England cleared an authorization to provide liquidity support to Northern Rock, the The country's fifth largest mortgage lender. Five months later, Treasury of the United Kingdom became the owner of Northern Rock.

Up until that point, the gravity of these "difficult conditions" was not fully understood by most of the populace. Late in 2008, the Federal Reserve Bank of New York was authorized to lend $ 85 billion to the AIG. This was the beginning of the most serious recession in the United States since the Great Depression. What followed was a chain reaction that led to an unprecedented global financial crisis, as the world suffered from rising unemployment, rampant foreclosures, and severe skepticism of financial instruments.

This led to a renewed spotlight on an unfamiliar market segment that appeared comparatively more stable and, more importantly, far more ethical: the Islamic financing sector. From the financial centers in Malaysia to the Middle East, spanning across over seventy countries, Islamic finance in the US increased from $ 5 billion in the 1980s to $ 1 trillion in 2010. This phenomenal growth caught the attention of global investors who were seeking to safeguard their investments through more ethical and reliable financial instruments. When financial sector workers realized that these Shariah-compliant instruments avoided many of the worst effects of the global financial crisis, it became an attractive investment vehicle to support a more diverse portfolio. The Shariah-compliant financial sector has avoided investment in predatory lending businesses and overly leveraged financial instruments due to the strict ethical nature of the Shariah governance system. News and media outlets started to cover this ancient yet unfamiliar industry in hopes of learning from the mistakes of the conventional banking sector.

The concept of the modern Islamic financial services industry is rooted in the principles of Islamic legal jurisprudence that deals with financial transactions, a branch of Islamic jurisprudence called Fiqh Al Muamalat. Fiqh Al Muamalat is a framework under Islamic Law that charts the conduct of Muslims in commercial or economic endeavors. Islamic finance products and rulings are based on specific injunctions from the Quran that prohibit certain features of financial transaction models and related economic activities.

The Quran forbids interest, also called usury or riba. The underlying reasoning is that Islam considers lending to be a charitable act to help another member of the society in …

The Economic and Social Consequences of Money Laundering

It can be easy to understand the impact of money laundering on the initial victims – those who lost funds as a result of the predicate crime – but there can be an even deeper, more lasting effect on society as a whole.

While some fear that Anti-Money Laundering (AML) efforts can have a damaging effect on commerce, especially in developing nations, let us take a look at a number of ways money laundering hurts us all. We'll focus on emerging nations as the impact there can be magnified to extreme proportions.

The first, and most obvious, impact is the increase in corruption and crime. In many jurisdictions that are havens for successful laundering one often finds lax concern on the part of government and / or regulators – few predicate crimes, little or no reporting, enforcement, penalties or provisions to confiscate illicit funds, etc. Those conditions can then foster bribery of government and bank officials, lawyers, accountants and others. Once that beachhead is established, it is not long before bribery turns eyes away from other, even violent, crime.

The second impact (valid in any jurisdiction) is on legitimate businesses. Where a launderer uses a front company to hide his illegal funds, it is possible, even probable, that the operations of the front company may be subsidized. This can enable the front company to sell products at or below cost, driving their legitimate competition out and opening the door for expansion by the front company. As the front company grows, it provides a greater opportunity for the launderer to move even more illicit funds. In a developing country, it would not take long for the criminal / launderer to gain control of an entire industry.

However, it must be emphasized that the launderer does not share the same objectives of legitimate business owners, who strive to maximize their returns through the profitable, ongoing operations of their enterprises. The launderer's primary concern is not his return, but the successful cloaking of the origin and ownership of the funds he controls.

It is in this disregard for normal business practices that leads to another area of ​​concern – economic distortion. Launderers often invest their money in assets or activities that are not economically beneficial to the countries where the funds are located. For example, right now, in a world where real estate prices have dropped sharply in the last few years due to the mortgage bubble bursting and other global pressures, property prices in Nairobi, Kenya are soaring – increasing 2-3 times in the last 5 years. And is it any wonder? With lax money laundering laws and a 500-mile shared border with Somalia, it is easy to guess where much of the Somali piracy ransom money has gone. This has taken home ownership right out of the hands of many hard-working Kenyans.

Such distortions can, in turn, lead to governments misinterpreting economic data. Without seeing the true economic trends of their country, leadership is prone to make decisions that are not …

Realizing Personal Economic Independence

An individual is initially dependent on others during the early phase of life; first 20 years. Throughout this phase, the person obtains knowledge on multiple subjects, attains wisdom through manifold observations, and builds up moral strength by means of spiritual / humane practices. Nevertheless, the person is barely in touch with the business world during this phase. Later on, along with multi-dimensional independent life experiences, the individual, in the second phase of life, is consequentially apprised about economic fields and economic works.

Human life embraces multiple needs and countless facilities for normal living. Basic human needs include healthy food, fresh water, proper clothes, right sanitation, complete shelter, necessary medical aids, easy transportation and appropriate education. The innate human nature extends the individual's contentment boundary towards countless paraphernalia of life, such as, aesthetic dressing, delicious foods, magnificent residence, superior education, unlimited medical assurances, and so on and so forth. In order to fulfill both, needs and facilities, money is the fundamental prerequisite. Proactive efforts are indispensable to earn money units. Namely, a work for the sake of monetary reward is called an economic work.

Technically, personal economic independence is defined in the dictionary as "the income threshold at which a person can live without relying on the support of others." At this stage, the economic agent can purchase required, and even desired, goods for personal advantage. Realistically, stream of successful execution of economic works by the individual is the only way to reach personal economic independence. The main ambition of this article is to portray the roadmap towards the actualization of a stable income stream, and hence, economic independence. I will try to reach the focal point of the paper by providing a simple technique to realize the perfect profession, a proper method for execution of economic work, and effective tips to overcome hurdles during economic struggle.

Opting the Right Profession

There are boundless economic works available in the modern world. Needless to say, the invention of internet and technology has further introduced oodles of online works as well. Selection of the right profession is duty of the economic agent. How may he / she opt for the right profession? Jeff Goins, author of the bestseller, The Art of Work, gives answer to the question. He offers a stunning approach to discover the purpose of life. Once the purpose is realized, one can consequently comprehend the right profession. Jeff writes: "when you pay attention to your life and the lessons it can teach you, you won't feel so lost. Your story will seem less like a series of disjoined events and more like a beautifully complex narrative unfolding before you. You will understand each setback, inconvenience and frustration as something more than what it appears to be. And perhaps, as you listen to it, your life will speak. "

Jeff, in his case, listed out a few memories from his life and during the exercise, he was able to grasp his purpose; to become a writer. An economic agent, at the …

Economic Literacy And Ignorance

Uncover Cash Advance, Debt Consolidation and a lot more at Get the best of Insurance coverage or Free of charge Credit Report, browse our section on Cell Phones or understand about Life Insurance. These are the ABCs of personal finance, the benchmarks by which we measure monetary literacy. Construction Financial Management Association (CFMA) Organization committed to the requirements of construction monetary professionals and service providers – from job expense control and the contract lifecycle to danger management and surety relationships.

This indicates that Chelsea have been also knocked off the top of this distinct league table, with both Manchester clubs now ahead: United £91 million, City £86 million. Together with a handful of others ( Ron Elmer, Andy Silton and SEANC ), I’ve been advocating indexing for the NC Pension Fund for really a whilst now and we’ve struggled to see any meaningful modify.

Although SMA’s Walsh especially cites micro-cap companies” as becoming challenged in this location, no doubt a lot of modest-cap and mid-cap organizations endure from the identical situation as well. En cas d’événement de crédit, qui actionne le paiement des CDS, l’évaluation du montant récupéré sur l’obligation permet de valoriser le prix auquel le CDS est dénoué.

In reality, crypto currencies have been at the center of a lot of of these disagreements, with the SEC recently deciding to treat ICOs as securities (and therefore assets) and the Korean central bank categorizing Bitcoin as a commodity Given that the judgment made by these entities have regulatory and tax consequences, I am confident that they will be debated, discussed and disagreed with.

Google News: BUSINESS Uncommon news service compiled solely by laptop algorithms without human intervention. David Collins of IR firm Jaffoni & Collins produced certain that there were no violations of RegFD and we made ourselves available to take away any inappropriate comments (of which there were none).…

Norway’s Largest Economic Services Group

We are in a crisis in the evolution of human society. When you have a Google Account you can download the content stored in your account for use in other services, or setup the Inactive Account Manager to let a trustee download some of your content in the event the account is left unattended.

An early milestone in the rise in significance of blogs came in 2002, when several bloggers focused on comments by U.S. Senate Majority Leader Trent Lott 22 Senator Lott, at a celebration honoring U.S. Senator Strom Thurmond , praised Senator Thurmond by suggesting that the United States would have been better off had Thurmond been elected president.

But contemplating that it is achievable for men and women who know the author to give objective critiques (specially when the definition of “know” is stretched to everybody the author has ever encountered on the internet), I locate the automatic removal of positive testimonials puzzling.

In some instances, bloggers have faced cyberbullying Kathy Sierra , author of the blog “Generating Passionate Users”, 94 was the target of threats and misogynistic insults to the point that she canceled her keynote speech at a technologies conference in San Diego, fearing for her safety.

Staff who weblog about elements of their spot of employment can start to influence the reputation of their employer, either in a good way, if the employee is praising the employer and its workplaces, or in a negative way, if the blogger is generating adverse comments about the business or its practices.…

WD Ganns Economic Time Table Extended And Adjusted

Ce mardi 21 novembre s’est tenue la troisième édition du Verre Inter-Magistères de Finance. È per questo che siamo stati felici di collaborare con Allianz in un’indagine non solo sulla conoscenza finanziaria ma, in particolare, sulla danger literacy in ben 10 Paesi europei, inclusa l’Italia. Le département Finance vise à produire et à diffuser une recherche de qualité dans des domaines clés de la finance et de la comptabilité.

I would be lying if I said that I knew which of these scenarios will unfold, but they are all still plausible scenarios. Au sein de Finance three.1, Jessica est la spécialiste de Energy BI (PowerPivot, PowerQuery, PowerView) et des Dashboard en ligne.

Despite the fact that this firm has not but published its 2016 accounts, the £319.five million reported in 2015 is exactly the very same as the figure in final year’s Cash League. En poursuivant votre naviguation, vous acceptez l’utilisation de cookies pour vous proposer des solutions adaptés à vos centres d’intérêt et mesurer la fréquentation de nos services.

Businesses close to ratings thresholds subsequently suffer declines in the quantity of patents that they make, and also the quantity of citations to their patents (a measure of the good quality of innovation). Sibille est titulaire d’une maîtrise en relations internationales de l’Université de Sussex, Royaume-Uni, et un baccalauréat en développement et économie de la College of Oriental and African Research (Université de Londres).

Un grand sage, Ludwig Binswanger, fait une description fine de l’individu joyeux. That stated, the club’s holding firm, Fordstam Limited, does have effectively more than £1 billion of debt (£1,097 million as of June 2015) in the kind of an interest-free of charge loan from the owner, theoretically repayable on 18 months notice.…