Tuesday 16 August 2022 \

 

Economy

World Bank warns world economy in new danger zone

Source : Reuters | Washington / 14 Sept 2011

The head of the World Bank said on Wednesday the world had entered a new economic danger zone and that Europe, Japan and the United States all need to make hard decisions to avoid dragging down the global economy.

"Unless Europe, Japan, and the United states can also face up to responsibilities they will drag down not only themselves but the global economy," World Bank President Robert Zoellick said in a speech at George Washington University.

 

Malaysia: Kelantan collects Zakat in Shariah money

By Ibrahim Abdulaev : IslamDag.info | Kota Bharu / Friday, 26 August 2011

An historic event took place at Kelantan Trade Centre in Kota Bharu the state’s capital at the end of Ramadan. For the first time in the past 100 years, payment of Zakat, the third pillar of Islam, was collected and paid with Sharia currency, Gold Dinar and Silver Dirham on 25 August 2011 in a public event organized by the government.

 

Ramadan in Madinah: Five-star hotels that offer luxury and proximity to the Prophet’s Mosque

Source : Rima Al-Mukhtar | Arab News
Madinah | 17 Aug 2011

Praying in the Grand Mosque is equivalent to a 100,000 prayers’ reward; praying in my mosque is equivalent to a 1,000 prayers’ reward and in the Al-Aqsa Mosque is like 500 prayers’ reward,” said Prophet Muhammad (peace be upon him).

 

Ramadan in Makkah: Hotels that offer luxury and proximity to the Grand Mosque

Source : Rima Al-Mukhtar | Arab News
Makkah | 10 Aug 2011

"Umrah in Ramadan is equivalent to Haj with me,” said Prophet Muhammad (peace be upon him). As a result, Muslims from all over the world wish to perform Umrah especially during Ramadan.

Makkah receives visitors and guests in large numbers in the holy month; many of them stay in hotels near the Grand Mosque to be able to view the Holy Kaaba from their rooms.

 

Business ethics in Islam

Source : Syed Asad | Dawn Newspaper | 22 Jul 2011

The term ‘business ethics’ refers to the behavior that a business organization is supposed to adhere to in its interaction with society, transactions with customers and in its internal affairs. The concept of business ethics is as old as business itself.

Initially, different cultures and regions had different ethics of business. With increasing globalization, the various sets of business ethics are continuously acquiring common values and forms. Islam has given guiding principles for all human activities and also prescribes and explains the ethics of business.

 

What is Islamic Finance?

Source : Mohammad Shafique | Global Trader
Institute of Islamic Banking and Insurance | 19 Jul 2011

Islamic finance is similar to conventional finance in the sense it refers to facilitating pooling of financial resources and their investments, except that all the activities are undertaken in compliance with Shari’ah – commonly referred to as Islamic law. Shari’ah, literally means ‘path’ or ‘way’ to water source.

 
 

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