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Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) is an international standard-setting body of regulatory and supervisory agencies that aims to promote the soundness and stability of Islamic financial services. It studies and recommends standards consistent with Sharî'ah principles to financial institutions covering the areas of banking, capital market and insurance. The IFSB was originally established to serve banking sector regulators and central banks, extending its mandate to include supervisors and regulators of insurance and securities markets in 2004 and 2005 respectively. History The IFSB was founded by "a consortium of central banks" and the Islamic Development Bank in 2002 and began operations on 10 March 2003. The country of its location, Malaysia, passed a special law the same year —the Islamic Financial Services Board Act 2002—giving the IFSB the usual "immunities and privileges" international organizations receive. The Nine Founding Members that signed the Arti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malaysia
Malaysia is a country in Southeast Asia. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia on the Mainland Southeast Asia, Indochinese Peninsula and East Malaysia on the island of Borneo. Peninsular Malaysia shares land and maritime Malaysia–Thailand border, borders with Thailand, as well as maritime borders with Singapore, Vietnam, and Indonesia; East Malaysia shares land borders with Brunei and Indonesia, and a maritime border with the Philippines and Vietnam. Kuala Lumpur is the country's national capital, List of cities and towns in Malaysia by population, largest city, and the seat of the Parliament of Malaysia, legislative branch of the Government of Malaysia, federal government, while Putrajaya is the federal administrative capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Language
English is a West Germanic language that developed in early medieval England and has since become a English as a lingua franca, global lingua franca. The namesake of the language is the Angles (tribe), Angles, one of the Germanic peoples that Anglo-Saxon settlement of Britain, migrated to Britain after its End of Roman rule in Britain, Roman occupiers left. English is the list of languages by total number of speakers, most spoken language in the world, primarily due to the global influences of the former British Empire (succeeded by the Commonwealth of Nations) and the United States. English is the list of languages by number of native speakers, third-most spoken native language, after Mandarin Chinese and Spanish language, Spanish; it is also the most widely learned second language in the world, with more second-language speakers than native speakers. English is either the official language or one of the official languages in list of countries and territories where English ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arabic Language
Arabic (, , or , ) is a Central Semitic languages, Central Semitic language of the Afroasiatic languages, Afroasiatic language family spoken primarily in the Arab world. The International Organization for Standardization (ISO) assigns language codes to 32 varieties of Arabic, including its standard form of Literary Arabic, known as Modern Standard Arabic, which is derived from Classical Arabic. This distinction exists primarily among Western linguists; Arabic speakers themselves generally do not distinguish between Modern Standard Arabic and Classical Arabic, but rather refer to both as ( "the eloquent Arabic") or simply ' (). Arabic is the List of languages by the number of countries in which they are recognized as an official language, third most widespread official language after English and French, one of six official languages of the United Nations, and the Sacred language, liturgical language of Islam. Arabic is widely taught in schools and universities around the wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking And Finance
Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or Finance, financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include ''Profit and loss sharing#Mudarabah, mudarabah'' (profit-sharing and loss-bearing), ''wadiah'' (safekeeping), ''musharaka'' (joint venture), ''murabahah'' (cost-plus), and ''ijarah'' (leasing). Sharia prohibits ''riba'', or usury, generally defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to ''riba''). Investment in businesses that provide goods or services considered contrary to Islamic Value (personal and cultural), principles (e.g. pork or alcohol) is also ''haram'' ("sinful and prohibited"). These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sharia
Sharia, Sharī'ah, Shari'a, or Shariah () is a body of religious law that forms a part of the Islamic tradition based on Islamic holy books, scriptures of Islam, particularly the Quran, Qur'an and hadith. In Islamic terminology ''sharīʿah'' refers to immutable, intangible divine law; contrary to ''fiqh'', which refers to its interpretations by Ulama, Islamic scholars. Sharia, or fiqh as traditionally known, has always been used alongside urf, customary law from the very beginning in Islamic history; has been elaborated and developed over the centuries by fatwa, legal opinions issued by mufti, qualified jurists – reflecting the tendencies of Schools of Fiqh, different schools – and integrated and with various economic, penal and administrative laws issued by Muslims, Muslim rulers; and implemented for centuries by Qadi, judges in the courts until recent times, when secularism was widely adopted in Islamic societies. Traditional Principles of Islamic jurisprudence, theory o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Development Bank
The Islamic Development Bank (, abbreviated as IsDB) is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia. History It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the Organisation of Islamic Cooperation) with the support of the King of Saudi Arabia at the time ( Faisal), and began its activities on 3 April 1975. On 22 May 2013, IsDB tripled its authorized capital to $150 billion to better serve Muslims in member and non-member countries. The Bank has received credit ratings of AAA from Standard & Poor's, Moody's, and Fitch. Saudi Arabia holds about one quarter of the bank's paid up capital. The IDB is an observer at the United Nations General Assembly. Membership The present membership of the Bank consists of 57&nbs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emerald Group Publishing
Emerald Publishing Limited is a scholarly publisher of academic journals and books, headquartered in Leeds, England. Originally focused in the areas of social sciences and management, including management, business, education, and library studies, Emerald also publishes in the areas of health, science, engineering, and technology. Emerald Publishing began as an independent publishing house, formed by Keith Howard (OBE) and a group of management academics from the University of Bradford. Howard stepped down as Chairman of the Emerald Group in 2017. Vicky Williams became the CEO of Emerald Publishing in 2018, replacing Richard Bevan, who took over Howard's role of Executive Chairman. Emerald Group Publishing was acquired by US-based Cambridge Information Group on 10 June 2022. History Emerald was founded in the United Kingdom in 1967 as ''Management Consultants Bradford (MCB) UP Ltd.'' The publisher changed its name to Emerald in 2002 following the success of its Emerald Fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting And Auditing Organization For Islamic Financial Institutions
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a Bahrain-based not-for-profit organization that was established to maintain and promote Shariah standards for Islamic financial institutions, participants and the overall industry. The commission also organizes a number of professional development programs (especially the Islamic legal accountant program, observer program and forensic auditing program) in their effort to improve the industry. History AAOIFI was established in accordance with the Agreement of Association which was signed by Islamic financial institutions on 26 February 1990 in Algiers. Then, it was registered on 27 March 1991 in Bahrain. It has members from more than 45 countries, including central banks and Islamic financial institutions and other parties working in the financial industry and banking, Islamic International. The commission has obtained support for the application of the standards issued by it, where these stan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-profit Organisations Based In Malaysia
A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners. A nonprofit organization is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. Depending on the local laws, charities are regularly organized as non-profits. A host of organizations may be non-profit, including some political organizations, schools, hospitals, business associations, churches, foundations, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulation
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or principal–agent problems. An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervision, bank supervisors. In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law. History In the early modern period, the Dutch were the pioneers in finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
