#Islamic finance and banking free

It is important that you understand the rules to know how does Islamic banking work. From the 1960s to 1970s, the modern world accepted the Islamic banking system. In the Middle Ages, exchange and business activity in the Muslim world depended on Islamic rules as account standards, and these thoughts spread all through Spain, Baltic States, and Mediterranean, giving a portion of the premise to western standards. The first spouse of prophet MuhammadвЂ™s, Khadija, was a dealer, and he went about as a specialist for her business, utilizing a significant number of similar standards utilized as a part of contemporary concepts of Islamic banking. The history of banking in Islam goes back to the earliest reference point of Islam in the 7th century. Islamic Banking Concepts in Early Ages of Islam: These standards are not new but rather their unique state has been changed throughout the hundreds of years. A significant number of these standards whereupon banking in Islam is based are regularly acknowledged everywhere throughout the world, for quite a long time as opposed to decades. Banking in Islam as an account exercises must be polished reliable with the ShariвЂ™ah and its pragmatic application through the improvement of Islamic financial aspects. Islamic banking concepts have an indistinguishable reason from traditional managing an account aside from that it works as per the guidelines of ShariвЂ™ah, known as Fiqh al-Muamalat. Gathering interest or Riga isnвЂ™t allowed under Islamic law. Two fundamental standards behind Islamic banking concepts are the sharing of benefit and misfortune. Banking in Islam is a saving money framework that depends on the standards of Islamic law, additionally known as Shariah law, and guided by Islamic financial matters. The main concept of the Islamic banking is the prohibition on collection of interest and its utilization for the business purposes. in Islamic Economics, Banking and Finance (B.Sc.Islamic banking is a finance management system that is based on the Islamic rules of Sharia. To enroll and further details, please visit Islamic Online University : B.Sc. While the Middle East still offers growth opportunities there is big potential for growth in countries such as Indonesia, Bangladesh, India, and countries from North Africa and Central Asia which have a substantial Muslim population.ДҐ - Principles of Economics (Macro and Micro)Д¤ - Financial Management (Prerequisite: Principles of Accounting)Д¦ - Islamic Capital Markets(Prerequisite: Financial Management)Д¤ - Investment and Financial Statement AnalysisД¦ - Accounting for Islamic Financial InstitutionsДҐ - Islamic Financial Markets and Institutions Analysts expect that at the current rate of expansion, in the next 8 to 10 years the Islamic banking network in the UAE will overtake the conventional banking system. Many countries have recently seen a rise in demand for Islamic banking services. In todayвЂ™s world flooded with interest based transactions, unlawful bank contracts and investments the need for Islamic banking is increasing. вЂњAllah has permitted trade and has forbidden interest.вЂќ (Surah Al-Baqarah 2:275)

#Islamic finance and banking free

The basic principle of the degree to educate students about interest free (Riba Free) concepts of Islam. This degree opens the door to a possible career in an exciting, expanding and beneficial field, and is a stepping stone for further studies. The Islamic Online University (IOU) presents the worldвЂ™s first tuition-free BachelorвЂ™s Degree program in Islamic Banking and Economics. Students can benefit from tuition-free accredited BA and MA degrees in various fields of study. The IOU provides an equal opportunity for all students and makes earning a degree a real possibility even for the neediest of students. Our university is committed to spreading beneficial knowledge that is easily affordable and will benefit not only individual students, but also empower entire communities. Abu Ameenah Bilal Philips in 2007 as a higher education institution that offers intensive online undergraduate and graduate programs completely tuition-free. The Islamic Online University (IOU) was launched by Dr.