Business & Strategy Archives - Usmani & Co. Pvt. Ltd.

30 Jul 22

Importance of Islamic Capital Market – Pakistan Stock Exchange – Part 1

The concept of Islamic finance can be traced back to about 1400 years, but its recent history can be tracked back to the 1970s, when Islamic banks were founded in Saudi Arabia and United Arab Emirates where basic financing solutions such as savings and financing were provided. These products were ensured that they are Shariah-compliant, […]

16 May 22

Shariah Advisors addressed at the 20th AAOIFI Annual Shariah Boards Conference at Bahrain

Dr Imran Usmani, CEO and president of Usmani and Co. Shariah Advisors addressed at the 20th AAOIFI Annual Shariah Boards Conference at Bahrain . He introduced the concept of Running Musharakah that has been a successful product in the banks of pakistan. Running Musharakah facility gives similar effects of overdraft product on the customers’ balance […]

And Allah has permitted trade and forbidden Riba

22 Dec 21

Part 1: Prohibition of Riba in Islam | Islamic Finance Series

The financial services sector is the most important sector of the modern economy. The financial services sector provides opportunities for households to choose the best combination of investments in terms of return on investment, duration and security. It also provides opportunities for businesses and governments to fund their activities by raising surplus funds. The concept […]

27 Oct 21

Key differences between Islamic banks & conventional interest based banks

ISLAMIC BANKS (IB) CONVENTIONAL BANKS (CB) At Conceptual & Socio-Religious level IB are not money lending institutes but they work as a trading/ investment house. IB work under the socio-religious guidelines that prohibit charging and paying interest and avoid all impermissible transactions like gambling, speculation, short selling & Sale of debts & receivables. IB do […]

04 Oct 21

IJARAH

“Ijarah” is a term of Islamic fiqh. Lexically, it means “to give something on rent”. In Islamic jurisprudence, the term “Ijarah” is used for two different situations: In the first place, it means “to employ the services of a person on wages given to him as a consideration for his hired services.” The employer is […]