Conventional corporate finance requires the managers of a firm to manage the financial and other aspects of the business in a manner that increases the market value of the firm and therefore the value of a shareholder’s investment in the firm.[1] Apart from a few legal rules regarding wrongful trading and insolvency law, managers’ choices
1.1 DEFINITION OF “FINANCIAL CRISIS” Goldsmith has succinctly defined the term ‘financial crisis’ as a “sharp, brief, ultra-cyclical deterioration of all or most of a group of financial indicators”, such as short-term interest rates, asset prices, corporate insolvencies and the meltdown of financial institutions.[1] A ‘financial crisis’ leads to catastrophic turmoil in financial markets that
by: Abdullah Fahim[1] In life, there are always two things: good and evil. Sometimes there are things which fall in between them, which is known as the ‘grey area’. According to Islamic teachings, everything good is considered ‘Halal’ or permissible and all the evil things are considered ‘Haram’ or forbidden. Whether something is good or
‘Islamic finance’ is defined as finance that embodies the ethos and values of Islamic law.[1] It is much wider than the term ‘interest-free banking or finance’. Interest-free finance refers to a number of financial instruments and operations which try to avoid interest. However, Islamic finance does not only avoid interest-based transactions. It is also required
The Messenger of Allah (ﷺ) said, “He who goes forth in search of knowledge is considered as
struggling in the Cause of Allah until he returns.” [At- Tirmidhi].
