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Mudarabah financing is a kind of partnership where one partner contributes money (i.e. the financier) to another (entrepreneur, who contributes his expertise, skill, knowledge, labour, idea), for investing in a commercial enterprise. The investment comes from the first partner who is called “Rab-ul-Maal” while the management and work is an exclusive responsibility of the other,Continue reading “Islamic Financing: Mudharabah”

Introduction Istisna’ is a sale transaction where an item is transacted before it comes into existence. It is an order to a manufacturer/contractor to manufacture/construct a specific item or asset for the purchaser (borrower). The manufacturer/contractor uses his own material to manufacture the required goods. In Istisna’, price must be fixed with the consent of all partiesContinue reading “ISTISNA : Explained and Uses”

Definition and classification of Musharakah The literary meaning of Musharakah is “sharing”. The root of the term “Musharakah” in Arabic comes from the word “Shirkah”, which means ‘being a partner’. Under Islamic jurisprudence, Musharakah means; “a joint enterprise formed for conducting some business in which all partners share the profit according to a specific ratio […]Continue reading “MUSHARAKAH — Ace Group”

What is Salam? Bai‘Salam or deferred delivery sale is a forward contract wherein the price was paid in advance at the time of making the contract for the prescribed goods to be delivered at a later date. Unlike Murabaha (Cost plus Financing) and Ijarah (Lease), Salam was originally used as a financing mechanism for smallContinue reading “Islamic Modes of Finance: Salam Alias Deferred Delivery Contracts”

Ace Group of Companies places 2nd Runners up in Best Medium Business Category at the ceremony held at the Sarova Whitesands Resort & Spa on 9th December 2016   Ace Group of Companies have been honoured to be nominated for for the Best Medium Business Award and Decade of Excellence in Business Award – MombasaContinue reading “Mombasa Business Awards”

“Ijarah” is a term of Islamic fiqh. Lexically, it means “to give something on rent”. This type of Ijarah relates to the usufructs of assets and not to the services of human beings. ‘Ijarah’ in this sense means “to transfer the usufruct of a particular property to another person in exchange for rent claimed fromContinue reading “IJARAH (LEASING)”

Penned by Ali Ebrahim When disaster strikes, it’s best to be prepared. Nobody can predict the future but WISE people plan ahead for it. The unwise see buying insurance as an unnecessary expense but WISE people realize its true value. Having insurance OR Takaful is necessary because it allows people to have a contingency plan.Continue reading “Why Insurance or Takaful Is Necessary?”

O towering mountain of knowledge, incapacitating the aspiring climber. You have surpassed the compass of the earlier [da’is]. Your like cannot be found among those that have gone—among all people—nor those that remain. Imam Mustansir (Qasida) In a constellation of brilliant philosophers like Hasan bin Sabbah, political geniuses like Rashid al-Din Sinan, and talented philosopher-poetsContinue reading “A Fearless Fidai – The Story of al-Mu’ayyad al-Shirazi”

In his new memoir, the best-selling author shares the funny, thrilling and heartbreaking moments that continue to inspire his singular career. James Patterson Has Sold More Than 425 Million Books. Here’s the Lesson From His Grandmother That Keeps Him Productive. — Entrepreneur: Latest Articles