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CIBF-3
Islamic Financial System
Commercial Banking under Islamic Framework
CIBF-4
Islamic Financial System
CIBF-5
Islamic Financial System
Commercial Banking under Islamic Framework
CIBF-6
Islamic Financial System
Commercial Banking under Islamic Framework
9.00 Sources of Funds of Islamic Banks:
a) Paid up capital
b) Share Premium
c) Statutory Reserve
d) General Reserve
e) Dividend Equalization Account
f) Retained Earnings
CIBF-7
Islamic Financial System
9.02.2 Al-Mudarabah :
The word ‘Al-Mudarabah’ has been derived form the
Arabic word ‘Darb' /Darbu’ which means to movement to
earn rahmat (Munafa) of Allah. Mudaraba is a form of
partnership where one of the contracting parties called the
‘Shahin-al-Maal’ or the ‘Rabb-ul-Maal’ (the financier)
provides a specified amount of capital and acts like a
sleeping or a dormant partner while the other party, called
the ‘Mudarib’ (entrepreneur)’ provides the entrepreneurship
and management for currying on any venture, trade,
industry or service with the objectives of earni8ng profits.
The Mudarib is in the nature of a trustee as well as an agent
of the business. Profit is distributed as per preagreed ratio
while the loss is entirely borne by the Shahib-al-Mall.
CIBF-8
Islamic Banking
Mode of Investment
1.0 Profit & Loss Sharing Mode
2.01 Al-Mudarabah
3.01 Bai-Murabaha
3.02 Bai-Muajjal
3.03 Bai-Salam
3.04 Bai-Ishtisna
3.05 Bai-Istijrar
3.06 Bai-Musawamah
3.07 Bai-Surf
3.08 Bai-Muqayada
6.0 Quard-al-Hasana
CIBF-8a
Islamic Financial System
* Shirkat / Musharaka
It is an agreement under which the Islamic bank
provides funds which are mingled with the funds of the
business enterprise and others. All providers of capital
are entitled to participate in the management but not
necessarily required to do so. The profit is distributed
among the partners in pre-determined ratios, while the
loss is borne by each partner in proportion to his
contribution.
Al-Mudaraba
Mudaraba is a form of partnership where one of the
contracting points called the ‘ Shahib-al-Maal’ or the
‘Rabb-ul-Maal’ (the financier) provides a specified
amount of capital and acts like a sleeping a dormant
partner while the other party, called the Mudarib
(entrepreneur), provides the entrepreneurship and
management for carrying on any venture, trade, industry
or service with the objectives of earning profits. Profit
in distributed as per preagreed ratio while the loss is
entirely borne by the ‘Shahib-al-Maal’.
CIBF-9
Islamic Financial System
* Bai-Murabaha:
* Bai-Muajjal:
* Bai-Salam:
* Bai-Ishtisna:
CIBF-10
Islamic Financial System
Commercial Banking under Islamic Framework
Bai-Istijrar:
* Bai-Surf:
* Bai-Muqayada:
CIBF-11
Islamic Financial System
* Mozarah:
It is a contract in which one person agrees to Till the land of
the other person in return for a part of the produce of the
land.
* Musaqah:
9.03.6 Quard-al-Hasana:
CIBF-12
Islamic Financial System
i) Conveyance
ii) Commission, if any, paid to agent
iii) Cost of remittance of Fund
iv) Transportation cost
v) Insurance
vi) Godown rent
Vii) Other expenses if any
C. Total Cost Price (A+B)
D. Profit Mark up
E. Sale Price
CIBF-13
Islamic Financial System
CIBF-14
Islamic Financial System
CIBF-15
Islamic Financial System
12.04 Rent / Profit is charged and recovered for the gestations period.
12.11 The amount of disbursement does not agree with the amount of
cash memo.
12.12 Goods are received directly by the client instead of receipt of goods
first by the bank and then by the client.
CIBF-16
Islamic Financial System
CIBF-17
Islamic Financial System
24 ‘’ 98%
12 “ 96%
06 “ 92%
03 “ 88%
CIBF-18
Islamic Financial System
Commercial Banking under Islamic Framework
13.07 On the basis of the above principles, let us work out the rates of
profit using the information and figures given below:
Less
14.01.2 Bai-Murabahah:
CIBF-20
Islamic Financial System
Commercial Banking under Islamic Framework
a. Musharaka / Mudarabah
14.02.2 Bai-Salam:
15.04 Equity:
► Riba is unjust.
15.07 Growth
► Promotes Innovation.
► Enterpreneurship Development.
CIBF-23