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Posted: October 3rd, 2021

Dynamic Assignment | Homework For You

Q1 How is it that, i.e. in ‘what sense’, is the Shari’a a ‘dynamic’ body of rules (in other words: via what mechanism(s) can the Shari’a adapt to circumstances / technologies that may arise in the future)? Q2 What is riba, and why is it considered unacceptable under the Shari’a? What concept(s) replace(s) riba in Islamic finance? Notwithstanding the prohibition of riba, on what basis has ‘LIBOR’ established a ‘role’ in Islamic finance? What might (if possible) be used instead of ‘LIBOR’ in Islamic finance? Q3 What is the key difference between a Musharaka and a Mudaraba arrangement?

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Q4 What is the key difference between an Istisna’ and Salam arrangement? Q5 Consider an entrepreneur seeking financing for a project. What are her Islamic finance alternatives? What potential problem(s) does the financier face, and how might the financier address this/these? Q6 On what basis is the ‘lender’s’ profit mark-up justified in the Murabaha structure, in other words, what ‘risk’ is the ‘lender’ considered to be taking? Q7 Which scholars sit on the DJIM Shari’a supervisory board?

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Q 8 Which sukuk structure(s) might be most viable in respect of an underlying ‘asset’ that was an ‘Islamic receivable’. Q9 In his short piece “Sukuk and their Contemporary Applications”, Sheikh Muhammad Taqi Usmani observes that: “[it is incumbent] upon... Islamic banks and financial institutions to cooperate among themselves.. [with] the guidance and encouragement of Sharia supervisory board..” What is the context that leads him to raise this observation? Finance homework help

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