Fitra
FITRA GUIDE: Karachi, April 2023. Ramazan ul Mubarak 1444 H Fitra is a Wajib (obligatory) Zakat. Fitra per person is calculated as the cost of 3 kgs of any one of the listed commodities, of quality according to your lifestyle….
FINANCIAL WISDOM BEHIND PROHIBITION OF INTEREST
It must be kept in mind that it is not only Islam that prohibits interest but all revealed divine religions and famous societal thinkers condemned the charging of interest. All Divine Religions Abhor Riba The reasons why all divine religions,…
List of Directors Bank Letter
List of Directors/Partners Bank Letter must be printed on Company LetterHead and Stamped and signed by all Directors/Partners of the Company. This letter can be used for Private Limited Company, Partnership, & Sole Prioperitorship with the little amendments in the…
Company Bank Account Opening Request Letter
Company Bank Account Opening Request Letter must be printed on Company LetterHead and Stamped and signed by all Directors/Partners of the Company/Partnership. This letter can be used for Private Limited Company, Partnership, & Sole Prioperitorship with the little amendments in…
Bank Signing Authority Company Letter
Bank Account Signing Authority Company Letter must be printed on Company LetterHead and Stamped and signed by all Directors of the Company. This letter can be used for Private Limited Company, Partnership, & Sole Prioperitorship with the little amendments in…
IJARAH – Islamic Leasing
IJARAH – Islamic Leasing The meaning of Ijarah – Islamic Leasing is to give something on rent. This is to rent a fixed asset to a person (the lessee) by the owner (the lessor) at an agreed rent price for…
TAKAFUL – Islamic Insurance
TAKAFUL – Islamic Insurance Takaful – Islamic Insurance is originated from Arabic word Kafalab. It means “joint guarantee”. This is a cooperative scheme where participants pay donations (a premium), which is also called Tabarru, in a common pool. In return,…
Why we do Murabaha Contract
Murabaha Sale! It is a sale when a person expressively mentioned about cost or original price of the goods and adds some profit before selling to next. Murabaha is absolutely not a loan or not any kind of loan. It…
Define Mudarabah Types, Principle, Risk for Islamic Banks
The Mudarabah contract is a form of partnership between one who contributes efforts in the form of managerial skills (Mudarib) and the other who contributes capital (Rabb-ul-maal). Profit from the outcome of the venture is shared between the capital provider…
Musharakah Partnership – Basic rule of Musharakah
Musharakah: The English meaning of Musharakah is “Sharing” Partnership. It is a structured joint venture or partnership in which the profit and loss of enterprise are shared according to Islamic finance. It means all partners will need to share loss…
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