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Islamic banking and finance has its own products and services that differ from conventional banking. [ 1][ 2] These include Mudharabah ( profit sharing ), Wadiah (safekeeping), Musharakah ( joint venture ), Murabahah (cost plus finance), Ijar ( leasing ), Hawala (an international fund transfer system), Takaful (Islamic insurance), and Sukuk ...
In some states where land owned by colleges and universities is not subject to local property taxes, the state government reimburses the local governments for part of the tax revenue that the local government would otherwise have collected. In other cases, the institution makes a direct payment to the local government (which would not otherwise ...
At least some in the Islamic finance industry use derivatives and make short sales, and permissibility of this is a subject of "heated debate". [182] Global standards for trading Islamic profit-rate and currency swap derivatives were set in 2010 with the "Hedging Master Agreement" [183] [184] [185] (see below). A "Shariah-certified" short-sale ...
Profit and Loss Sharing (also called PLS or participatory banking) refers to Sharia-compliant forms of equity financing such as mudarabah and musharakah. These mechanisms comply with the religious prohibition on interest on loans that most Muslims subscribe to. Mudarabah (مضاربة) refers to "trustee finance" or passive partnership contract ...
A short sale is when a mortgage lender agrees to allow a homeowner to sell their home for less than what they owe on the mortgage. A short sale can help you get out of an underwater situation, but ...
Riba (Arabic: ربا ,الربا، الربٰوة, ribā or al-ribā, IPA:) is an Arabic word used in Islamic law and roughly translated as "usury": unjust, exploitative gains made in trade or business.
Islamization of knowledge. v. t. e. Islamic economics ( Arabic: الاقتصاد الإسلامي) refers to the knowledge of economics or economic activities and processes in terms of Islamic principles and teachings. [ 1] Islam has a set of special moral norms and values about individual and social economic behavior.
Yes, you may qualify for a mortgage after a short sale, depending on the loan program you select. FHA loans are worth considering for credit-challenged borrowers once the three-year waiting period ...