Islamic Financial Institutions

What is MUSHARAKA?

Definition and classification of Musharaka The literary meaning of Musharaka is “sharing”. The root of the term “Musharaka” in Arabic comes from the word “Shirka”, which means ‘being a partner’. Under Islamic jurisprudence, Musharaka means; “a joint enterprise formed for conducting some business in which all partners share the profit according to a specific ratioContinue reading “What is MUSHARAKA?”

Financial Reporting for Islamic Financial Institutions (Kindle Edition ASIN: B081LL9715)

The question in most people mind regarding Financial Reporting for Islamic Financial Institutions is which standards, my view is first the Financial reporting should be based on International Financial Reporting Standards (IFRS) or the appropriate national reporting standards if the Country it is incorporated follows National Standards (it is a no special consideration being anContinue reading “Financial Reporting for Islamic Financial Institutions (Kindle Edition ASIN: B081LL9715)”