jueves, 13 de mayo de 2010

MIDDLE EAST






Islamism or Islam is chronologically the third of the great monotheistic religions, after the Hebrew and Christian, and the second in number of faithful. It is based on the oneness of God and in compliance with various obligations that are acquired as dogmas.
Muhammad says that Allah represents the same God that Jews and Christians, and that is nothing more than a prophet, like Noah, Abraham, Isaiah, John the Baptist or Jesus himself, carrying the message of the Supreme Being, but with the difference being the seal of the Messengers of God, the ultimate and definitive. Jews and Christians, men of the same faith as his, have corrupted the original purity of their beliefs and practice evil. For this reason, Allah entrusted him, only the task of guiding the entire straight path.


The most important point or dogma of the teaching of Muhammad refers to the oneness of God. No religion influences both the political and economic such as Islam. Religion came with Muhammad and gradually has spread worldwide and is based on an attachment to the laws of the Koran that was supposedly given to Mohammed by God's direct.
There family is very important and includes in it both as uncles cousins, is based on values, and children are viewed as elements that should be employed by adults.
The position of women in Islam is very low, they have to be subject to the will of men, they walk with their faces covered and only recently allowed to study in universities. Of course this has been relaxed in some countries.

As businesses can be very ethical but may be lying in the presentation of their reality. There business given much importance to the contracts that may be sales, manufacturing trade. But overall everything has to be consistent with the mandates of Allah. There the consumer has the right to protect their personal data and know thoroughly what they buy.
The main problem there is a tendency to be with prejudice to all that has to do with Islam.

QUESTIONS


Explain what Islamic banking is and its background?

Islamic banking is a viable system, particularly in the last decade. Is based in Shania’s issues that helped hampered development of Islamic finance over the last five decades.

What are the key principles of Islamic banking?

Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shariás and Islamic rules on transactions. The basic principle of Islamic banking is the sharing of profit and loss and the prohibition of usury.

Islamic laws forbid institutions from charging interest on loans. How do they make profits when lending Money?

Sharia prohibits the payment or acceptance of interest fees for the lending and accepting of money respectively, as well as investing in businesses that provide goods or services considered contrary to its principles.

Explain the concept of ethical investments under Islamic Law. Who is to determine whether an activity is allowed or not?

The law in Shariás is who determine allowed activities; there is truthfulness, sincerity, honesty.

How does Islamic banking influence the economy in the Middle East?

The economics and politics are based on Islamic laws, so both are attached to religion and everything is based on religious power. Everything is based on the Koran, and so any business or contract law should be taken of Islam because in these countries the right is closely linked to religious laws.

Based o research an knowledge about his topic what is the future of Islamic Banking in terms of global expansion ad growth?

Is a promising future and this bank will have great influence in the Western world due to the expansion of the Muslim world.

Class presentations and compulsory reading
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