Islamic Banking Dawn of a New Era 2011
PESTEL Analysis
Islamic Banking is a financial system that allows Muslims to conduct banking operations in accordance with Sharia law. The system operates on four basic principles: (1) The use of funds from the interest-based banking is limited, while the funds from investments are not limited. (2) Lack of interest and profit-oriented objectives, which does not promote investment-based loans. (3) Sharia s regarding interest and profit-based loans. This system ensures that Muslims’ needs are met, while not prom
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As soon as the sun sets, a new era dawns in the banking industry. Islamic banking which is an Islamic banking practice of Islamic finance (religion in economics) is entering the mainstream. What is Islamic banking, and how can it help businesses and individuals? According to the United Nations (UN), the world economy is growing rapidly and will continue to do so. According to the World Bank, this growth is expected to reach a staggering $70 trillion in the next few decades (
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In 2011, I founded a new kind of bank, named ‘Ali Ibn Ali Islamic Banking System’. At first, this bank was created with Islamic principles in mind. It was known as AISBS. But soon, it was renamed ‘Ali Ibn Ali Islamic Banking System’ (AIABS) to match the bank’s brand name. Clicking Here Based on this, I will now give you an explanation of AIABS: Islamic Banking System stands for the Islamic principle
Evaluation of Alternatives
As Muslims, we have a deep-seated spiritual, religious and social obligation to assist our fellow brothers in distressed situations, regardless of whether they are strangers or even family. Islamic banking provides a means to this end, which is not limited to the traditional Islamic banks we are familiar with but encompasses various Islamic banking models. This has proven to be very successful over the years, not only in Islamic banking but also in commercial banking, and has significantly contributed to the growth and development of the Islamic banking industry in
Marketing Plan
In today’s globalized society, traditional banking institutions have been affected by market forces to become efficient and innovative. One way to accomplish this is through Islamic Banking. Islamic Banking is a banking system based on Sharia law. It is governed by Islamic principles that forbid interest, usury, and other practices associated with traditional banking. Islamic banking is the application of Islamic principles and law to the banking system. This concept is new, and it offers potential benefits to both Muslims and non-Muslim
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Islamic Banking has been one of the latest emerging financial concepts to make inroads in our contemporary market, which was first conceptualized and introduced in 1975, with the foundation of Al-Hekma Bank. The Islamic banking sector is an amalgamation of banking and finance practices that adhere to Sharia law. It is considered one of the most unique financial systems, being based on the principles of Islamic law, which emphasizes the principles of morality, social welfare and economic justice.
Alternatives
Islamic Banking is a fresh development in banking sector, and a new way of life. It is a kind of banking that operates according to Islamic principles. The principles have a big significance in all aspects of life such as business, investment, loan, savings, retirement, etc. Islamic Banking was first introduced in 1980s, with the opening of the first Islamic bank in Malaysia, the Bank Simpanan Nusantara (BSN). Since then, Islamic Banking has expanded enormously