SHARIAH
PRINCIPLES FOR ISLAMIC FINANCE AND
BANKING
ويحلّ
لهم
الطيّبات
ويحرّم
عليهم
الخبائث
-
الأعراف
Q7:157
"...He
(Allah) allows them At-Tayyibaat (all good and lawful) and prohibit
them Al-Khabaa`ith (all evil and unlawful)" [Q7:157]
AWQAF
Africa Islamic Finance ::
مالية
أوقاف
إفريقيا
الإسلامية
In
the seventies, changes took place in the
political climate of many Muslim
countries so that there was no longer
any strong need to establish Islamic
financial institutions under cover. A
number of Islamic banks, both in letter
and spirit, came into existence in the
Middle East, e.g., the Dubai Islamic
Bank (l975), the Faisal Islamic Bank of
Sudan (l977), the Faisal Islamic Bank of
Egypt (l977), and the Bahrain Islamic
Bank (l979), to mention a few. The
Asia-Pacific region was not oblivious to
the winds of change. The Philippine
Amanah Bank (PAB) was established in
l973 by Presidential Decree as a
specialized banking institution without
reference to its Islamic character in
the bank's charter. The establishment of
the PAB was a response by the
Philippines Government to the Muslim
rebellion in the south, designed to
serve the special banking needs of the
Muslim community. However, the primary
task of the PAB was to assist
rehabilitation and reconstruction in
Mindanao, Sulu and Palawan in the south
(Mastura l988). The PAB has eight
branches located in the major cities of
the southern Muslim provinces, including
one in Makati (Metro Manila), in
addition to the head office located at
Zamboanga City in Mindanao. The PAB,
however, is not strictly an Islamic
bank, since interest-based operations
continue to coexist with the Islamic
modes of financing. It is indeed
fascinating to observe that the PAB
operates two 'windows' for deposit
transactions, i.e., conventional and
Islamic. Nevertheless, efforts are
underway to convert the PAB into a
full-fledged Islamic bank (Mastura
l988).
Islamic
banking made its debut in Malaysia in
l983, but not without antecedents. The
first Islamic financial institution in
Malaysia was the Muslim Pilgrims Savings
Corporation set up in l963 to help
people save for performing hajj
(pilgrimage to Mecca and Medina). In
l969, this body evolved into the
Pilgrims Management and Fund Board or
the Tabung Haji as it is now popularly
known. The Tabung Haji has been acting
as a finance company that invests the
savings of would-be pilgrims in
accordance with Shariah, but its role is
rather limited, as it is a non-bank
financial institution. The success of
the Tabung Haji, however, provided the
main impetus for establishing Bank Islam
Malaysia Berhad (BIMB) which represents
a full- fledged Islamic commercial bank
in Malaysia. The Tabung Haji also
contributed l2.5 per cent of BIMB's
initial capital of M$80 million. BIMB
has a complement of fourteen branches in
several parts of the country. Plans are
afoot to open six new branches a year so
that by l990 the branch network of BIMB
will total thirty-three (Man l988).
Reference
should also be made to some Islamic
financial institutions established in
countries where Muslims are a minority.
There was a proliferation of
interest-free savings and loan societies
in India during the seventies (Siddiqi
l988). The Islamic Banking System (now
called Islamic Finance House),
established in Luxembourg in l978,
represents the first attempt at Islamic
banking in the Western world. There is
also an Islamic Bank International of
Denmark, in Copenhagen, and the Islamic
Investment Company has been set up in
Melbourne, Australia.
محررتنا
أم
عبد
الله
أديلابو
مديرة
هذا
الموقع
بإشراف
شيخنا
الشيخ
أبي
عبد
الله
أديلابو
و
إرشاده
-
حفظهما
الله
و
حفظ
أهلهما
-
Our
Editor And Director Is
Umm-Abdullah Adelabu Who
Is The Director Of This
Site With Supervision And
Guidance Of Our Sheikh,
Sheikh Abu-Abdullah
Adelabu (Ph. D Damas) -
May Allah (s.w.t.) Protect
Both Of Them And Their
Family
شيخنا:
الشيخ
عيد
الفتَّاح
أبو
عبد
الله
تائوو
أديلابو
Our
Sheikh Is: Sheikh Abdul-Fattah
Abu-Abdullah Taiwo Adelabu
(Ph.D. Damas)
s
Awqaf Africa (also known
or referred to as AWQAF)
serves all countries of
Africa: South, North,
West, East, and other
territorial geography of
the continent including
its islands in Pacific,
Atlantic, and
Mediterranean Seas as well
as Caribbea
s
Awqaf Africa seeks the
causes of suffering,
poverty, and Islamophobia
and tries to eliminate
them under the amiable
banner of Islam
s
Sheikh Abdulfattah Abu
Abdullah Adelabu (Ph. D.
Damas), a West African
Islamic Academic founded
Awqaf Africa, of which
he’s the first al Amir
(i.e. President).Sheikh Abu Abdullah
was studying Postgraduate
Degrees in Damascus early
1990’s during when Syria
reviewed its national
security including
immigration control...
s
Awqaf Africa is an
independent establishment
with a firm principle to
stay neutral and distance
itself from exploitations
by politicians, lobbies
from business prominent,
or affiliations with
military strugglings.Awqaf Africa
maintains Jihad or
Struggling For The Cause
of Islam is a faith as
well as a duty, and
therefore does not
champion any struggling
other than that of Islam
sWaqfs
[Awqaf] or Habs (i.e.
Endowments From al Amir,
Members Of ash Shura, And
Muslim Donors)
محررتنا
أم عبد الله أديلابو مديرة
هذا الموقع بإشراف شيخنا
الشيخ أبي عبد الله أديلابو
و إرشاده - حفظهما الله و
حفظ أهلهما -
Our Editor And Director Is
Umm-Abdullah Adelabu Who
Is The Director Of This
Site With Supervision And
Guidance Of Our Sheikh,
Sheikh Abu-Abdullah
Adelabu (Ph. D Damas) -
May Allah (s.w.t.) Protect
Both Of Them And Their
Family
شيخنا: الشيخ عيد الفتَّاح
أبو عبد الله تائوو أديلابو
Our Sheikh Is: Sheikh
Abdul-Fattah Abu-Abdullah
Taiwo Adelabu (Ph.D. Damas)
s Awqaf Africa
(also known or referred to
as AWQAF) serves all
countries of Africa:
South, North, West, East,
and other territorial
geography of the continent
including its islands in
Pacific, Atlantic, and
Mediterranean Seas as well
as Caribbea
s Awqaf Africa
seeks the causes of
suffering, poverty, and
Islamophobia and tries to
eliminate them under the
amiable banner of Islam
s Sheikh
Abdulfattah Abu Abdullah
Adelabu (Ph. D. Damas), a
West African Islamic
Academic founded Awqaf
Africa, of which he’s the
first al Amir (i.e.
President).Sheikh Abu Abdullah
was studying Postgraduate
Degrees in Damascus early
1990’s during when Syria
reviewed its national
security including
immigration control...
s Awqaf Africa is
an independent
establishment with a firm
principle to stay neutral
and distance itself from
exploitations by
politicians, lobbies from
business prominent, or
affiliations with military
strugglings.Awqaf Africa
maintains Jihad or
Struggling For The Cause
of Islam is a faith as
well as a duty, and
therefore does not
champion any struggling
other than that of Islam
s
Waqfs [Awqaf] or Habs
(i.e. Endowments From al
Amir, Members Of ash Shura,
And Muslim Donors)
You
can also
use the
window
bellow
to send
your
contact
us
direct
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:: فضلاً ضع محتويات الإتصال هنا
:
محررتنا
أم
عبد
الله
أديلابو
مديرة
هذا
الموقع
بإشراف
شيخنا
الشيخ
أبي
عبد
الله
أديلابو
و
إرشاده
-
حفظهما
الله
و
حفظ
أهلهما
-
Our
Editor And Director Is
Umm-Abdullah Adelabu Who
Is The Director Of This
Site With Supervision And
Guidance Of Our Sheikh,
Sheikh Abu-Abdullah
Adelabu (Ph. D Damas) -
May Allah (s.w.t.) Protect
Both Of Them And Their
Family
شيخنا:
الشيخ
عيد
الفتَّاح
أبو
عبد
الله
تائوو
أديلابو
Our
Sheikh Is: Sheikh Abdul-Fattah
Abu-Abdullah Taiwo Adelabu
(Ph.D. Damas)
s
Awqaf Africa (also known
or referred to as AWQAF)
serves all countries of
Africa: South, North,
West, East, and other
territorial geography of
the continent including
its islands in Pacific,
Atlantic, and
Mediterranean Seas as well
as Caribbea
s
Awqaf Africa seeks the
causes of suffering,
poverty, and Islamophobia
and tries to eliminate
them under the amiable
banner of Islam
s
Sheikh Abdulfattah Abu
Abdullah Adelabu (Ph. D.
Damas), a West African
Islamic Academic founded
Awqaf Africa, of which
he’s the first al Amir
(i.e. President).Sheikh Abu Abdullah
was studying Postgraduate
Degrees in Damascus early
1990’s during when Syria
reviewed its national
security including
immigration control...
s
Awqaf Africa is an
independent establishment
with a firm principle to
stay neutral and distance
itself from exploitations
by politicians, lobbies
from business prominent,
or affiliations with
military strugglings.Awqaf Africa
maintains Jihad or
Struggling For The Cause
of Islam is a faith as
well as a duty, and
therefore does not
champion any struggling
other than that of Islam
sWaqfs
[Awqaf] or Habs (i.e.
Endowments From al Amir,
Members Of ash Shura, And
Muslim Donors)
محررتنا
أم
عبد
الله
أديلابو
مديرة
هذا
الموقع
بإشراف
شيخنا
الشيخ
أبي
عبد
الله
أديلابو
و
إرشاده
-
حفظهما
الله
و
حفظ
أهلهما
-
Our
Editor And Director Is
Umm-Abdullah Adelabu Who
Is The Director Of This
Site With Supervision And
Guidance Of Our Sheikh,
Sheikh Abu-Abdullah
Adelabu (Ph. D Damas) -
May Allah (s.w.t.) Protect
Both Of Them And Their
Family
شيخنا:
الشيخ
عيد
الفتَّاح
أبو
عبد
الله
تائوو
أديلابو
Our
Sheikh Is: Sheikh Abdul-Fattah
Abu-Abdullah Taiwo Adelabu
(Ph.D. Damas)
s
Awqaf Africa (also known
or referred to as AWQAF)
serves all countries of
Africa: South, North,
West, East, and other
territorial geography of
the continent including
its islands in Pacific,
Atlantic, and
Mediterranean Seas as well
as Caribbea
s
Awqaf Africa seeks the
causes of suffering,
poverty, and Islamophobia
and tries to eliminate
them under the amiable
banner of Islam
s
Sheikh Abdulfattah Abu
Abdullah Adelabu (Ph. D.
Damas), a West African
Islamic Academic founded
Awqaf Africa, of which
he’s the first al Amir
(i.e. President).Sheikh Abu Abdullah
was studying Postgraduate
Degrees in Damascus early
1990’s during when Syria
reviewed its national
security including
immigration control...
s
Awqaf Africa is an
independent establishment
with a firm principle to
stay neutral and distance
itself from exploitations
by politicians, lobbies
from business prominent,
or affiliations with
military strugglings.Awqaf Africa
maintains Jihad or
Struggling For The Cause
of Islam is a faith as
well as a duty, and
therefore does not
champion any struggling
other than that of Islam
sWaqfs
[Awqaf] or Habs (i.e.
Endowments From al Amir,
Members Of ash Shura, And
Muslim Donors)
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