Modes of Islamic Finance: ISTISNA

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 commodity/asset for the purchaser (borrower). The manufacturer uses his own material to manufacture the required goods. In Istisna', price must be fixed with the consent of all parties involved. All…

Meet the Only Female Activist Hedge Fund Manager Shaking up U.S. Companies — Fortune

Dianne McKeever doesn't like to talk about the fact that she's a woman. But her gender has made her a groundbreaker on Wall Street: The moment she launched Ides Capital last year, the 38-year-old became the only woman running an activist hedge fund shaking up U.S. companies. And her firm, which takes its name from… via…

Secretarial Audit: Mitigating the compliance risk — Ace Group

Introduction Secretarial Audit! What’s it? In the Kenyan (or even African) perimeters, this is a new term and many, both business people and Corporate Secretarial practitioners, may get perplexed by the mere mention of the term, just like any other layman. On the contrary, in other countries like India, there are legal provisions in the […]…

Deutsche Bank Says DoJ Wants It to Pay $14 Billion to Settle Mortgages Case — Fortune

The U.S. Department of Justice is asking Deutsche Bank to pay $14 billion to settle an investigation into its selling of mortgage-backed securities, Germany’s flagship lender said on Friday. The claim against Deutsche db , which is likely to be negotiated in several months of talks, far outstrips the bank’s and investors’ expectations for such… via…

Oxford Tops Ranking of Best Universities in the World — TIME

Oxford became the U.K.’s first university to top the Times Higher Education (THE) world rankings this year, ending the California Institute of Technology’s five-year streak. Oxford’s rise can be attributed to its growing international reach: Research funding rose 10% and total income rose to 1.4 billion pounds ($1.83 billion), the Guardian reports. According to its… via…

How an ‘Insufferably Arrogant’ Kid Transformed Into a 38-Year-Old CEO — Fortune

Joel Gay is the CEO of Energy Recovery, a California-based firm whose technology helps recycle the energy wasted during processes such as fracking and cleaning water. At 38, he is one of the youngest black CEOs of a public company. He is also No. 13 on Fortune's latest 40 Under 40, a list of young… via…

Petrobras CEO Says Corruption Lawsuit Won’t Get in the Way of Business — Fortune

A U.S. class-action lawsuit over corruption at Brazil’s Petrobras will not overshadow the state oil company’s $74 billion, five-year plan to slash its crippling debt and refocus on its core business, chief executive officer Pedro Parente said on Wednesday. In an interview in his offices in Rio de Janeiro, Parente also said Petrobras was pressing… via…

MUDARABAH

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,…