Sri lanka Muslims Web Portal Diversity and Inclusiveness – Sri Lanka Muslims
The nature of Ijara The literal meaning of Ijarah is “to give something on rent”. As per Islamic jurisprudence the term connotes two distinct situations. 1) The services of human beings for wages – the “Musta’jir”(employer) employing the services of an “Ajir” (employee) on wages or “Ujrah” in lieu of hired services. An “Ajir” for this purpose could be anyone …
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Global Sukuk Market – by By Faisal Hasan, Head of Research – Global Investment House, Kuwait
Fast attracting Muslims & non-Muslims alike…. The global Islamic financial sector has witnessed an encouraging growth over the last decade and is currently estimated to be at around US$1trillion. It is predicted to be the world’s fastest-growing financial sector for the coming years with an estimated global potential of US$4trillion. Sukuks have turned out to be an important driver to …
Read More »Sukuks – The emerging trend in Islamic Finance Suresh R. I. Perera, LLB, Attorney – at – Law Director Tax & Regulatory, KPMG Ford Rhodes Thornton & Co.
Introduction Are you a finance or capital markets specialist ? Then you must be familiar with the latest trend in the capital markets! It’s Sukuk ! Well if you are not, you need to be concerned !. We Sri Lankans, in a small island in the Indian Ocean, recently read in the daily papers about the first Sukuk being structured …
Read More »SUKUK – Some Basic Facts
Sukuk is a form of Shari’ah-compliant securitization which is gaining wide acceptance not only in Muslim states, but also in largely non-Muslim countries where it is seen as a very promising instrument to mobilize funds for economic development by government or public-related institutions. Sukuk could be said to have evolved due to the needs of Islamic Banks and Financial institutions …
Read More »Going against the Grain Capitalism in the wake of a New Order By Roshan Madawela –
Harsh words against the development of Shari’ah compliant financing has not faded despite the deeply ingrained flaws in the world’s dominant capitalist system which is coming apart at the seams like a cricket ball that has been knocked around for too many sixes. Nevertheless, politically motivated censure of the Shari’ah financing sector goes on and on. Predictably, much of the …
Read More »The Nature of Paper Money – Some history and observations, by A.L.M. Abdul Gafoor – Appropriate Technology Foundation Groningen, The Netherlands
Gold and money From time immemorial gold was money. Valuable goods were priced in terms of gold: this product is worth so many ounces of gold. But assessing the fineness of the metal and weighing it each time a transaction took place was a tedious and wasteful exercise. This led to the invention of the gold coin. Mints which produced …
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