Islamic finance’s phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their conventional counterparts only in legal lexicon and not in economic impact. The admirers argue that such instruments, irrespective of wider economic implications, rigorously comply with ‘juristically sound’ Islamic principles. This book aims to reconcile the above dispute. It argues that the financial impact of instruments is a consequence of the way they are priced and structured. The similarity in pricing and structures is an outcome not of the underlying Islamic financial modes but of the competitive environment in which Islamic instruments compete. Even risk-sharing and trade-based Islamic structures, if implemented in such an environment, would have a financial impact similar to that of conventional instruments. This book has a wider appeal for both academic and non-academic audiences. It can complement undergraduate and graduate courses as an additional reading on the intricacies of Islamic financial instruments and markets. For PhD students, it would help identify future research areas. To non-academics, it offers a deeper understanding regarding the working of the Islamic finance industry.
Mainstream accounting rules, namely International Financial Reporting Standards (IFRS), used in conventional banking, employ financial logics and principles which are at odds with Shariah and therefore unsuitable for reporting the results of Islamic banks. The book is an effort to explain the Islamic accounting principles and practices for Islamic Financial institutions and to juxtapose them to mainstream accounting principles in a simple and practical manner. The book begins with an overview of the Islamic Finance environment, the rationale for Islamic accounting and a brief introduction of AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), the professional body responsible for the issuance of Islamic accounting standards. The main features of the AAOIFI Conceptual Framework and its comparison with IFRS framework are covered in Chapter 2. Chapters 3-9 cover the accounting treatment of the major Islamic finance products including trade-based (Murabaha, Salam and Istisna’a), rental-based (Ijarah) and risk-sharing based products (Mudarabah and Musharakah). Given the significance and complexity of Islamic bonds (Sukuk) for the Islamic finance industry, Chapter 10 discusses the basic accounting and reporting issues vis-à-vis Sukuk, leaving more complex issues for advanced texts on the topic. Zakah accounting (charity) and provisions and impairments are covered in Chapters 11 and 12. The chapters are arranged so that they start with a discussion of the product itself, followed by the AAOIFI accounting treatment and ending with the IFRS perspective. Each chapter begins with the learning objectives and a cover story and closes with a summary of the learning objectives. To facilitate the learning of readers, each chapter contains a glossary of the terms introduced as well as end of chapter multiple choice questions. In addition, each chapter includes practical insights and concept checks to enhance and test the understanding of the readers. This will be a useful guide for students, academics and practitioners concerned with the subject of financial reporting in Islamic Institutions.
Shape Memory Polymer derived Nanocomposites: Features to Cutting-Edge Advancements summarizes the up-to-date of fundamentals and applications of the shape memory polymer derived nanocomposites. Design and fabrication of shape memory polymeric nanocomposites have gained significant importance in the field of up-to-date nano/materials science and technology. In recent times, the shape memory polymers and nanocomposites have attracted considerable academic and industrial research interest. This feature book will present a state-of-the-art assessment on the versatile shape memory materials. The flexibility, durability, heat stability, shape deformability, and shape memory features of these polymers have shown dramatic improvements with the nanofiller addition. Appropriate choice of the stimuli-responsive polymer, nanofiller type and content, and fabrication strategies may lead to enhanced physicochemical features and stimuli-responsive performance. Several successful stimuli-responsive effects have been achieved in the shape memory nanocomposites such as thermo-responsive, electro-active, photo-active, water/moisture-responsive, pH-sensitive, etc. Consequently, the shape memory polymer based nanocomposites have found applications in high-tech devices and applications. This book initially offers a futuristic knowledge regarding indispensable features of the shape memory polymeric nanocomposites. Afterwards, the essential categories of the stimuli-responsive polymer-based nanocomposites have been discussed in terms of recent scientific literature. Subsequent sections of this book are dedicated to the potential of shape memory polymer-based nanocomposite in various technical fields. Significant application areas have been identified as foam materials, aerospace, radiation shielding, sensor, actuator, supercapacitor, electronics and biomedical relevance. The book chapters also point towards the predictable challenges and future opportunities in the field of shape memory nanocomposites. - Provides the essentials of shape memory polymeric nanocomposites - Includes important categories of shape memory nanocomposites - Presents current technological applications of shape memory polymers and derived nanocomposite in sponges, aerospace, EMI shielding, ionizing radiation shielding, sensors, actuator, supercapacitor, electronics, and biomedical fields
Self and Sovereignty surveys the role of individual Muslim men and women within India and Pakistan from 1850 through to decolonisation and the partition period. Commencing in colonial times, this book explores and interprets the historical processes through which the perception of the Muslim individual and the community of Islam has been reconfigured over time. Self and Sovereignty examines the relationship between Islam and nationalism and the individual, regional, class and cultural differences that have shaped the discourse and politics of Muslim identity. As well as fascinating discussion of political and religious movements, culture and art, this book includes analysis of: * press, poetry and politics in late nineteenth century India * the politics of language and identity - Hindi, Urdu and Punjabi * Muslim identity, cultural differnce and nationalism * the Punjab and the politics of Union and Disunion * the creation of Pakistan Covering a period of immense upheaval and sometimes devastating violence, this work is an important and enlightening insight into the history of Muslims in South Asia.
The military rule of General Zia ul-Haq, former President of Pakistan, had significant political repercussions for the country. Islamization policies were far more pronounced and control over women became the key marker of the state's adherence to religious norms. Women's rights activists mobilized as a result, campaigning to reverse oppressive policies and redefine the relationship between state, society and Islam. Their calls for a liberal democracy led them to be targeted and suppressed. This book is a history of the modern women's movement in Pakistan. The research is based on documents from the Women's Action Forum archives, court judgments on relevant cases, as well as interviews with activists, lawyers and judges and analysis of newspapers and magazines. Ayesha Khan argues that the demand for a secular state and resistance to Islamization should not be misunderstood as Pakistani women sympathizing with a western agenda. Rather, their work is a crucial contribution to the evolution of the Pakistani state. The book outlines the discriminatory laws and policies that triggered domestic and international outcry, landmark cases of sexual violence that rallied women activists together and the important breakthroughs that enhanced women's rights. At a time when the women's movement in Pakistan is in danger of shrinking, this book highlights its historic significance and its continued relevance today.
In this comprehensive study of a strategically and economically significant region, the authors debate and challenge the controversial issues in South Asian history, such as identity, nationality and state-building.
Seminar paper from the year 2021 in the subject Politics - Region: South Asia, , language: English, abstract: In Pakistan, the freedom of expression is a constitutional right guaranteed to every citizen. It is not the absolute right as it has many limitations attached. This research report intends to explore the status of freedom of expression provided by the Constitution of Pakistan 1973 and International Conventions. This research explores, firstly, the basic concept of freedom of expression, and challenges faced by online social media users. Secondly, it discusses the significance of this study and throws lights on the aims and objectives to be achieved. Furthermore, it states the research questions which generate the main idea of the topic. The research methodology used in this research paper is qualitative data and this data is collected from various sources such as books, reports, articles and material which are published by government and non-governmental organizations. Lastly it discusses the structure of study which is further divided into six parts and entails chapters which will further elaborate the points of discussion.
Mainstream accounting rules, namely International Financial Reporting Standards (IFRS), used in conventional banking, employ financial logics and principles which are at odds with Shariah and therefore unsuitable for reporting the results of Islamic banks. The book is an effort to explain the Islamic accounting principles and practices for Islamic Financial institutions and to juxtapose them to mainstream accounting principles in a simple and practical manner. The book begins with an overview of the Islamic Finance environment, the rationale for Islamic accounting and a brief introduction of AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), the professional body responsible for the issuance of Islamic accounting standards. The main features of the AAOIFI Conceptual Framework and its comparison with IFRS framework are covered in Chapter 2. Chapters 3-9 cover the accounting treatment of the major Islamic finance products including trade-based (Murabaha, Salam and Istisna’a), rental-based (Ijarah) and risk-sharing based products (Mudarabah and Musharakah). Given the significance and complexity of Islamic bonds (Sukuk) for the Islamic finance industry, Chapter 10 discusses the basic accounting and reporting issues vis-à-vis Sukuk, leaving more complex issues for advanced texts on the topic. Zakah accounting (charity) and provisions and impairments are covered in Chapters 11 and 12. The chapters are arranged so that they start with a discussion of the product itself, followed by the AAOIFI accounting treatment and ending with the IFRS perspective. Each chapter begins with the learning objectives and a cover story and closes with a summary of the learning objectives. To facilitate the learning of readers, each chapter contains a glossary of the terms introduced as well as end of chapter multiple choice questions. In addition, each chapter includes practical insights and concept checks to enhance and test the understanding of the readers. This will be a useful guide for students, academics and practitioners concerned with the subject of financial reporting in Islamic Institutions.
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