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15784044 Islamic Finance and Their Financial Growth Verses Their Maqasid Alshariah

15784044 Islamic Finance and Their Financial Growth Verses Their Maqasid Alshariah

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Published by mughees

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Categories:Business/Law, Finance
Published by: mughees on Dec 01, 2010
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12/01/2010

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INCEIF
 
1
THE RECENT FINACIALGROWTH OF ISLAMICBANKS AND THEIRFULFILLMENT OFMAQASID AL-SHARIAH
GAP ANALYSIS 
Accounting for Islamic FinancialTransactions
by
:
MUGHEES SHAUKATPhd Researcher In Islamic Finance-INCEIF
 
 
Contents
1.
Introduction
2.
Inducing Factors2.1 The Push Factor 2.2 The Pull Factor (theoratical imperative)2.3 The Pull Factor (practical imperative)
3.
Islamic Accountability, The Objectives and Characteristics Of Islamic Finance3.1. Definination of Islamic Accounting3.2. Definination of Islamic Banks
4.
The FOUR Parameters or Approaches Of Shariah Compliance4.1. The AQAD Approach4.2. Accounting And Financial Reporting Approach4.3. Legal Documentation Of Contract Approach
4.4.
The MAQASID Approach
5.
THE REAL PICTURE
6.
Analysis of Financial Growth Of IBs6.1 Methodology and Data6.2 Analysis Of Empirical Results
7.
The Objectives of IBs based on Maqasid al-shariah7.1 Research Method7.1.1 Introduction7.1.2 Overview Of SEKARAN’S Concept7.2 Verification Of Performance Measures
8 .
Testing The Performance Measures8.1 Performance ratios
9 .
The FINANCIAL GROWTH TO MAQASID AL-SHARIAH GRID MATRIX9.1 How The MATRIX Works9.2 Ratings Of Banks9.3 Combined rating of the banks
10
. CONCLUSION
11.
References
2
 
ABSTARCT:
Initially conceived in response to a faith-based logic of conforming to the principles of shariah in all spheres of life, the astoundinggrowth of Islamic finance industry can be judged by the rapid pace at whichthe Islamic financial institutions (IFIs) are evolving around the world, wherethey co-exsist with a parallel system of conventional financial service.Growing at a rate of 10-15 percent per annum in the last decade, today theIslamic financial industry comprises of a range of financial institutions,including banks, non-banks finance companies, venture capital firms,insurance companies, mutual funds etc. However in the mist of all this boomone must not forget the real foundational purpose of these Islamic financialinstitutions and must relate to the fact that how much this recent growth isin line, based and driven by their foundational purposes i.e. MAQASID AL-SHARIAH. This study focuses exactly on this aspect and hence comes up withsome meticulous analysis to assess the gap between this pomped financialgrowth and its compatibility with maqasid al-shariah by providing a litmustest for judgemental philosophies and hence in a niche effort to locate thegap between the two.
3

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