Problems around the use of diminishing Musharaka in banking finance Research Paper

Problems around the use of diminishing Musharaka in banking finance and search for patricidal solution - Research Paper Example The Islamic banking has been popular over the ages and contributes a lot to the present world economy. In Islamic banking system Musharaka is the terminology use to denote the contract in the joint venture partnership. Our paper focuses on the concept of Musharaka and the diminishing Musaraka. The problem associated with the application of diminishing Musharaka is also studied in the current paper. A detailed analysis of the Islamic contracts and the terminologies are studied over here. Under the Islamic law which forms the guiding principle of the Islamic financial system there are seven different contracts in practice. According to Islamic system or Shariah the formation of contract requires both offer, which is termed as Ijab and acceptance which is termed as Qabul. The contracts are generally in verbal or in written form. The parties of the contract needs to be legally knowledgeable and should be in sound state of mind at the time of entering the contract. The contracting parties should not be forced to enter into the agreement under by any force or compulsion. The popular types of contracts are Al- Tamlikat, Al- Isqatat, Al –Itlaqat, Al- Taqdat , Al- Tauthiqat, Al- Ishtirak and Al- Hifz. The explanations of the different types of contracts are done below. Al- Tamlikat- The contract deals with the acquisition of properties and deals with the benefit associated with the properties. To classification of the contract is done as contract of exchange and contrcts of charity. The matters of dropping of right without exchange are handled by this contract. The release without compensation for the party is termed as absolute release whereas the release involving the compensation is known as release of exchange. Interest free finance is one of the basic guiding principles in Islamic banking. Among all forms of interest–free finance contract, mudaraba was considered the most suitable and practical mode for mobilizing financial resources to Islamic banks.

Cause and Effect Essay. Ill put topics in the instruction box and you Essay

Cause and Effect . Ill put topics in the instruction box and you may pick one - Essay Example Fast foods include Barbecue sause, chicken, nuggets, burgers, pizza, sandwich, pasties, and other common as well as popular brands (Dundes, Lauren and Swann 154). Evidently, there are various causes and effects of junk foods as demonstrated by research. It is almost impossible to explain the certain shift in consumption pattern; however, according to experts several drivers initiate the existence of fast foods. Among the youth and working class pressure from their environment has been a leading factor (Coulston, Rock, and Elaine 112). Evidently, many students engage in various activities ranging from studies and extra-carriculum. Notably, they have limited time to prepare healthy food instead resorting to buying fast foods. The situation is same to the working environment who have no ability to balance between work and food (Hertzler, Ann A., Webb, Ryland and Frary 52). In response, employees carry fast foods or drop into fast food restaurants. Apart from the tight schedule, advertisement techniques used by fast food restaurants have made it impossible to avoid their products. The soothing sight and imagined taste always arouse people to try the discoveries hence the continued use of fast foods. Most importantly, the use of fast fo ods continues to thrive because of influence from friends or parents. The effects of eating fast foods are evident from every corner of the world. The food rich in sugar, fat and calories affect health and normal operations. In as much as freshly harvested foods may also have the mentioned elements, it is important to note that the diverse effects exhibited in fast foods out ways the limited effects of fresh food (Schlosser 80). Obesity is one serious effect of fast food that has forced the world to look for solutions instead of analysing the causes. The complication arising from too much fat in the body lead to increased weight, which might also attract complications such as high blood