absiddique111 – Page 3 – Islamic Finance

Analitik Oyun Dünyası Pinco Casino

Pinco Casino, Rabidi N.V. tərəfindən idarə olunan və Kurasao lisenziyasına (8048/JAZ) malik bir platformadır. 2023-cü ildə açılan kazino, slotlar, canlı masalar və idman mərcləri ilə 5,000-dən çox oyun təklif edərək, peşəkar oyun mühiti yaradır.. Ehtimallar, hər səviyyədə oyunçu üçün strategiyalarını gücləndirən riyazi açardır.. Ehtimallar, oyun strategiyalarını dəqiqləşdirmək və nəticələri maksimallaşdırmaq üçün vacib bir vasitədir, hər bir oyunun riyazi təməlini təşkil edir.

Pinco’da Avropa ruletkası 37 nömrəli çarxla işləyir, sıfır oyunun riyazi strukturuna daxildir.. Bir nömrəyə mərc 2,7 % şans təklif edir – yüksək risk, yüksək mükafat strategiyası.. Ehtimallar strategiyanızı formalaşdırmaq üçün analitik çərçivə təmin edir.. If you cherished this write-up and you would like to get much more facts pertaining to пинко аз kindly visit our website. Bu cür mərclər 48,6 % qazanma şansı ilə sabit nəticələrə üstünlük verənlər üçündür.. Bu seçimlər riski minimuma endirərək sabit oyun təcrübəsi təklif edir..

Blekcek, Pinco’da riyazi dəqiqlik və oyunçu qərarlarını harmoniya ilə birləşdirir.. Düzgün strategiya evin üstünlüyünü 0,5 %-ə endirərək qələbəni yaxınlaşdırır.. Təsadüfü idarə etmək dilerin açıq kartına əsaslanan qərarlara bağlıdır.. Canlı blekcek masaları real kazino atmosferini canlandırır, immersiv təcrübə təqdim edir.. Canlı masalarda ehtimallar klassik kazino qaydalarına uyğundur, ədalətli oyun təmin edir..

Pinco’da slotlar, NetEnt və Pragmatic Play tərəfindən təqdim olunan, ədalətli RNG mexanizminə malikdir.. RTP 92-97 % arasında dəyişərək, пинко аз oyunçulara riyazi balans təmin edir.. 96 % RTP slotu 100 € mərcə qarşı 96 € qaytarır, etibarlı dövrə yaradır.. Yüksək volatillik slotları böyük mükafatlar üçün cəsarətli seçimdir.. Bu slotlar yüksək riskli strategiyalara üstünlük verən oyunçuları cəlb edir..

Pinco’da video poker, strategik qərarlarla ehtimalları optimallaşdırır.. Dəqiq strategiya ilə əl ehtimallarını təhlil etmək qələbəni artırır.. Dörd kartlı eyni rəng 35 % flush ehtimalı təklif edir – strateji seçimdir.. Pot və gizli koeffisientlər strategik qərarları formalaşdırır.. Pinco’da turnirlər bacarıq və ehtimal təhlilini sınaqdan keçirir..

Pinco həftəlik 10 % kəşbek təklif edir, oyunçuların itkilərini kompensasiya edir.. 500 €-a qədər bonus oyunçulara əlavə imkanlar yaradır.. Maliyyə nizam-intizamı ilə bonuslar daha səmərəli olur.. Ehtimallar və büdcə idarəsi birləşərək qələbəni yaxınlaşdırır..

Kurasao lisenziyası (8048/JAZ) ilə Pinco şəffaf və etibarlı platformadır.. Riyazi təhlil ilə oyunçular qələbə şanslarını artırır.. 5,000-dən çox oyun və 24/7 dəstək ilə Pinco beynəlxalq oyunçular üçün idealdır.. Peşəkar yanaşma ilə Pinco’da oyun təcrübənizi yüksəldin..

Pinco Casinoda muvaffaqiyat retseptlari

Pinco Casino xavfsiz to‘lov usullari va tezkor tranzaksiyalar bilan o‘yinchilarga qulaylik yaratadi, 2023 yildan buyon faoliyat yuritmoqda.

Yangi boshlovchi yoki tajribali o‘yinchi bo‘lishingdan qat’iy nazar, ehtimolliklar har bir tikishni muvaffaqiyatli qilishga yordam beradi. Bu matematik fan o‘yin natijalarini bashorat qilish va samarali strategiyalar ishlab chiqish imkonini beradi. Ehtimollik hisob-kitoblari qarorlaringni aniqlashtirib, uzoq muddatli muvaffaqiyat uchun asos yaratadi. Bu ilmiy yondashuv tikishlarni o‘ylangan tarzda boshqarishga yordam beradi, kazino ustunligini kamaytiradi. Here is more info about pinko uz review the website. Pinco Casinoda har bir o‘yin adolatli bo‘lib, pinko uz ehtimolliklar ochiq va tushunarli tarzda taqdim etiladi.

Pinco Casinoda Yevropa ruletkasi 37 bo‘lim va bitta nol bilan o‘ynaladi. Bitta raqam tanlash 37 dan 1 g‘alaba ehtimolini taqdim etadi. Bu raqamlar o‘yinchilarga aniq strategiyalar ishlab chiqishga yordam beradi. Qizil/qora yoki juft/toqqa tikish taxminan 48,6 % ehtimol beradi. Bu tikishlar past xavfli yondashuvni yoqtiruvchilarga mos keladi.

Pinco blackjack o‘yini tasodif va strategik mulohazalarni birlashtiradi. To‘g‘ri yondashuv house edgeni 0,5 % gacha minimallashtiradi. Qarorlar dilerning ko‘rsatilgan kartalariga asoslangan holda shakllanadi. Pinco’da jonli blackjack yer usti kazinolarning atmosferasini qayta tiklaydi. Ehtimolliklar klassik kazinolardagi kabi saqlanadi.

Book of Dead kabi Pinco slotlari tasodifni RNG bilan ta’minlaydi. Slotlarning nazariy qaytish darajasi 92-97 % orasida. 96 % RTP slot 100 so‘m tikishga 96 so‘m nazariy daromad beradi. Yuqori volatillik slotlari nodir, lekin katta g‘alabalar beradi. Ushbu sozlamalar yirik mukofotlarni orzu qiluvchilarga mos keladi.

Jacks or Better kabi video poker o‘yinlari taktik hisob-kitoblarga asoslanadi. G‘alaba qo‘li ehtimollarini tahlil qilish asosiy ahamiyatga ega. To‘rt bir xil rang kartasi 35 % flush ehtimolini beradi. Ehtimollik koeffitsientlari poker qarorlarini aniqlaydi. Poker turnirlari qattiq pozitsiyani talab qiladi.

Pinco’da 100 % 500 € gacha bonus va 200 bepul aylanish o‘yinni yorqinlashtiradi. 500 € gacha 100 % bonus o‘yin vaqtini kengaytiradi. Byudjetni qattiq boshqarish bonuslardan maksimal foyda keltiradi. Ehtimollik va moliyaviy strategiya muvaffaqiyatni oshiradi.

Xulosa qilib, ehtimolliklar Pinco Casinoda muvaffaqiyatning kalitidir. O‘yinlardan qat’iy nazar, matematik pozitsiya muhim. Pinco interfeysi va o‘yin xilma-xilligi ehtimollik yondashuvlarini rag‘batlantiradi. Mas’uliyatli o‘yin Pinco’da g‘alaba yo‘lini ochadi.

Issues in Shariah Governance Framework – SBP

Dr. Muhammad Abubakar Siddique,

Chairperson School of Islamic Banking and Finance (SOIBF),

International Institute of Islamic Economics (IIIE),

International Islamic University Islamabad.

…………………………………………………

His concluding remarks in 6th World Islamic Economics and Finance Conference held by Minhaj University Lahore 28-29 January 2023.

Video Link of Conference session

…………………………………………………….

Whenever a new product is launched by an Islamic bank, its structure cannot be kept secret because of the generality of Sharia-based modes. If it’s Salam-based, everyone knows what the design will be. However, Shariah compliance is an issue on which Shariah scholars and the public keep an eye on whether any principle of Shariah is being bypassed. After the journey of decades, Islamic banking and finance have reached the level it has now, the requirement is that steps should be taken to remove the doubts regarding Sharia compliance and the trust should be earned from the Sharia scholar to the common man.

Establishing a level playing field for Different Schools: The country of Pakistan has different religious schools and the Shariah scholars of each school have a good influence on the people in our society and their fatwas are popular. They have great potential for value addition in the Islamic banking and financial industry. If SBP wants to improve the Shariah compliance system as well as product innovation, it would be appropriate to make some amendments and additions to the existing Shariah governance framework. All the schools have to be taken together and it would be appropriate to relax some rules and criteria to bring up the Shariah scholars of neglected schools so that an atmosphere of a level playing field can be established as soon as possible.
Ethics of Fatwa: It is obvious that the structure of Islamic banking and financial products cannot be kept secret. When it is offered to the public it becomes their right to know the detailed evidence and principles on the basis of which they are declared Shariah compliant. The public includes Shariah scholars as well. In the capitalistic environment, Shariah scholars are very concerned about the Shariah evidence (Shar’i dala’il) regarding the Shariah compliance of financial products and want to know, analyze, and test them as well. But unfortunately, they do not have an access to detailed evidence-based fatwa behind each product. Recently published articles in various journals of good repute have revealed that there may not be any detailed fatwa on the back of many products. What exists is only one page with few lines that this product is Shariah Compliant. In this case, it is natural for Sharia scholars to have doubts. Hence, to overcome this issue, the SBP should develop a proper manual or standard on the stipulations and ethics of Sharī’ah approvals (fatwā) for IBs and IFIs to guide Sharī’ah advisors/boards regarding the scope, conditions, methods, means, format, detailed principles, ethics, and controls of Sharī’ah approvals (fatwā). However, SBP also has the option to adopt AAOIFI Sharī’ah standard no. 29 for this purpose.
Improvement in criteria of Appointment of Shariah advisor/scholar member: There is also a need to improve the criteria of Shariah advisory qualifications. According to current standards “Adequate understanding of banking and finance”. This is a very important dimension. With the passage of time, banking and financial transactions/products are becoming more and more complicated backed by some complicated financial theories which are not possible to understand for a person with mere religious studies. Also, there is no specific yardstick to check whether a Sharia scholar has a sufficient understanding of banking and finance. This is a loophole. Now there is no dearth of young scholars in society who have degree-level education in modern economics, banking, or finance along with religious studies. Therefore, while amending the qualification of Shariah Advisor, it should be added that the Shariah Advisor should possess a Diploma or Degree in Islamic Finance or Modern Finance from any university along with religious studies.
Conflict of interest and Shariah Advisory Committee: At present, there is no uniformity in Sharia compliance of products in Pakistan. Some Islamic banks are offering products that other Islamic banks do not because they are not Shariah compliant. This raises serious concerns about Islamic banks’ Shariah compliance in particular and in general, which is detrimental to the industry. For this, my suggestion is that the State Bank of Pakistan should review its Shariah Advisory Committee. To avoid a conflict of interest situation, the members of this committee should not be allowed to sit on the boards of any Islamic bank. It should be an independent committee with members having degree-level education in Shariah and advanced economics, finance, or banking and also having experience in the field of teaching, fatwa, and research. This will not only bring uniformity in the products of Islamic banks but also increase public confidence in the industry.
The hiring of Members of Shariah boards: SBP should play an effective role in hiring the members of the Sharia Board. The Shariah Advisory Committee of SBP itself or its appointed representatives join the hiring panel for the selection of Shariah Board members of any Islamic Bank. The salaries of the members of the Shariah Board of each Islamic bank should be paid through the State Bank of Pakistan. This will not only remove the allegation of conflict of interest from the Shariah advisors of Islamic banks but also increase their own confidence and public confidence in the industry.

……………………………………………………………………

Products Development in Islamic Banking

Lecture -1

Part-1: Product Innovation: Islamic Banking Vs. Conventional Banking

Lecture Sketch – Click Here

………………………………………

Part-2: Combination of Contracts: Juristic Theoretical aspect and principles

Reading Material:

Main Basic Reading: Combination of Contracts by Mohammed Burhan Arbouna

Supportive reading Urdu article : Combination of Contracts in Islamic Finance by M. Abubakar Siddique

Lecture -2

Islamic Financial Engineering: Two Contracts in One Contract – Ahdith Only with meanings

Video Lecture

Lecture -3

Islamic Financial Engineering: Juristic Debate on “Safqah”

Video Lecture

Lecture -4

AAOIFI Shariah Standard No. 25: Combination of Contracts

Video Lecture

Islamic Banking and Finance: Theory & Practice

Lecture-1:

Conventional and Islamic Ideology about Economics, Banking and Finance: Paradigm shift. Click for Readings 1 – 2 – 3 – 4

Link of Video Lecture-Play List

Lecture 2:

Islam Vs. West: Resources and Desire (PPF Curve)

Reading links – Click Here

Lecture 3:

Part-1 Principle of Risk and Return in Islamic Economic System

Click here for Reading of this Lecture (It is an article supportive to understand this topic)

Link of Video Lecture – Play List

Part-2 Position of Capital in Islamic and Conventional Economic Systems

Click here for Reading of this Lecture

Link of Video Lecture – Play List

Lecture 4:

Part – 1 : What is Riba? Pre-Requisite Concepts

Link of Video – Play List

Link of Reading

Islamic Law of Business Transactions

Lecture-1: Foundations of Islamic Economics-Shariah Law ?

Reading Material: Click Here

Video Lecture: Click Here

Lecture-2 & 3: Elements of Contracts: Offer & Acceptance

Reading Material: Chapter from book: Islamic law of business Transaction by Dr. M. Tahir Mansuri

Video Lecture: Click Here

Circular Economy, Green Economy, and Sustainable Development: Establishing the Interconnections and Discoursing the Role of Islamic Finance

Rashid A., Siddique M.A. (2021) Circular Economy, Green Economy, and Sustainable Development: Establishing the Interconnections and Discoursing the Role of Islamic Finance. In: Ali S.N., Jumat Z.H. (eds) Islamic Finance and Circular Economy. Gulf Studies, vol 5. Springer, Singapore.

Product Innovation: Islamic Banks Vs Conventional Banks

Financial Engineering

Product Innovation: Islamic Banks Vs Conventional Banks

Lecture Sketch

Muhammad Abubakar Siddique

February 10, 2022

………………………………………………………….

Islamic Banks are more innovative as compare to their convectional counterpart. Conventional Banks (CBs) have only one mode of Loan upon which they engineer their all products and services. In fact, CBs do nothing but manipulate LOAN. Some times they call it current account, some times they name it Saving account, sometime they call it car lease etc. They only have one mode “LOAN”. They build same relationship with their all customers of various products and that is “Creditor-Debtor relationship”. In Deposit side, CBs are debtors and Customers-depositors are creditors and vice versa in Asset side. How can CBs claim that they are innovative!

In fact product innovation exists in Islamic banking where each product is based on different mode. Islamic banks have various modes upon which they engineer their products and services. They do not have same relationship with their customers in all products see following Figure.

Introduction to Money Market. How does Money market Work in Conventional Economics?

Lecture Sketch

What is Money Market?

What is Money Market?

The money market is where financial instruments with high liquidity and very short maturities are traded. It is used by participants as a means for borrowing and lending in the short term, with maturities that usually range from overnight to just under a year. Among the most common money market instruments are Eurodollar deposits, negotiable certificates of deposit (CDs), bankers acceptances, U.S. Treasury bills, commercial paper, federal funds and repurchase agreements (repos).

Money market Instruments:

Here only three major instruments are being defined

1. Discount Instruments:

These instruments don’t pay interest as such. They are issued at a discount, which effectively means the “interest” is all at the beginning. Think of it from the lenders viewpoint. They wish to lend $100, but actually only need to lend $80 (discounted at the start) but are paid back the full $100.

Treasury Bills (T-bills) are short-term notes issued by the U.S. government. They are issued at a discount to their face value. They come in three different lengths to maturity: 90, 180, and 360 days. The two shorter types are auctioned on a weekly basis, while the annual types are auctioned monthly. T-bills can be purchased directly through the auctions or indirectly through the secondary market.
Commercial paper: These are unsecured with a typical term of 30days. There are issued by large organizations with good credit ratings – funding their short term investment needs.
Bankers Acceptance again are issued by companies BUT are guaranteed by a bank. The banks will get a fee for this guarantee – and because the risk is low (for the lender due to the bank guarantee) – the interest the companies offer on these will be low. Again these are offered at a discount however they are negotiable, meaning they can be traded before maturity. These are normally issued by firms who do not have a good enough credit rating to offer commercial paper.
Return Based Tools are financial instrument that earns interest.
A certificate of deposit (CD) is a savings certificate with a fixed maturity date, specified fixed interest rateand can be issued in any denomination aside from minimum investment requirements. Or A CD is a receipt for funds deposited in a bank for a specified term and for a set rate.
A CD restricts access to the funds until the maturity date of the investment. CDs are generally issued by commercial banks.
A repurchase agreement (repo) is a form of short-term borrowing for dealers in government securities. The dealer sells the government securities to investors, usually on an overnight basis, and buys them back the following day. For the party selling the security and agreeing to repurchase it in the future, it is a repo; for the party on the other end of the transaction, buying the security and agreeing to sell in the future, it is a reverse repurchase agreement.
Government Security: A bond (or debt obligation) issued by a government authority, with a promise of repayment upon maturity that is backed by said government. These securities are considered low-risk, since they are backed by the government.

Central Bank’s Requirements from Banks (Conventional and Islamic Banks)

Reserve Requirements: Reserve requirement of banks is to hold liquid assets in the form of cash and, approved securities. SBP requires scheduled banks in Pakistan to maintain two types of reserve requirements, i.e. cash reserve requirement (CRR) and statutory liquidity requirement (SLR).

Cash reserve requirement (CRR): CRR is the 5 % of banks’ applicable time and demand liabilities (TDLs) that they are required to hold in the form of cash with the SBP on fortnightly average basis. CRR is maintained in current account with the condition of maintain minimum reserve level with the central bank on daily basis. Required level of reserves for a bank in a reserve maintenance period are worked out on the basis of applicable TDLs of that bank at the end of the first day (i.e. Friday) of the maintenance period. Banks are not allowed to carry their excess of reserve position over the next maintenance period. Also, SBP does not remunerate deposits that banks keep with it for meeting the cash reserve requirement.
Statutory liquidity requirement (SLR): SLR is the 19% for CBs / 14% for IBs liabilities that they are required to invest in approved securities and/or hold in the form of cash; including balances with SBP, with NBP, balances left in the vault of banks, banks’ investment in capital of Micro-Finance Banks (MFBs).

Like CRR, maintaining period for SLR is also fortnightly that starts from Friday and ends at Thursday of the subsequent week. Applicable Time and demand liabilities at the end of the Friday (i.e. the first day of the maintaining period) are taken into account for the determination of SLR to be maintained during the maintaining period (if Friday is a holiday then time and demand liabilities as of close of the preceding working day is taken into account for calculating the SLR.)

Increase in SLR ratio implies that banks are required to hold a larger share of their funds into liquid assets approved/notified by the Federal Government for this purpose. Changes in SLR may change the composition of banks’ assets.