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Bank Muamalat Indonesia (BMI), commonly called as Bank Muamalat, is a commercial bank in Indonesia operating on the principles of Islamic banking. The bank was founded in 1 November 1991, based on the initiative of the Indonesian Council of Ulamas (MUI) and under the auspices of the Government of Indonesia . [ 1 ]
The bank was based on a profit sharing model and its products weren't linked to the Bank Indonesia discount rate, thus surviving to the 1997 Asian financial crisis which increased the mean interest rate of the other Indonesian banks. [citation needed] DRB-HICOM holds 70% shares in the Bank while Khazanah Nasional Berhad holds the remaining shares.
Muamalat (also muʿāmalāt, Arabic: معاملات, literally "transactions" [1] or "dealings") [2] is a part of Islamic jurisprudence, or fiqh. Sources agree that muamalat includes Islamic "rulings governing commercial transactions" [ 3 ] and Majallah al-Ahkam al-Adliyyah). [ 4 ] [
Observed by: Muslims: Type: Islamic: Celebrations: Community iftars and prayers: Observances: Fasting ()Almsgiving (zakat, specifically zakat ul-Fitr, and sadaqah)Commemorating the Night of Power (Lailat ul-Qadr)
Eid prayers, also referred to as Salat al-Eid (Arabic: صلاة العيد), are holy holiday prayers in the Islamic tradition. The literal translation of the word "Eid" in Arabic is "festival" or "feast" and is a time when Muslims congregate with family and the larger Muslim community to celebrate.
The qirad (also known as Muqaradah by Hanafi and Hanbali scholars) [1] was one of the basic financial instruments of the medieval Islamic world.It was an arrangement between one or more investors and an agent where the investors entrusted capital to an agent who then traded with it in hopes of making profit.
Resting place: Imam Bukhari Mosque near Samarkand, Uzbekistan: Era: Islamic Golden Age (Abbasid era)Region: Abbasid Caliphate: Main interest(s) Hadith, Aqidah: Notable work(s) Sahih al-Bukhari
Abu Sulaiman Dawud ibn Nusair al-Tā'ī, (Arabic: ابو سلیمان داؤد بن نصیر الطائي) usually referred to as Dawud Tā'ī, (died between 776 and 783 CE) was an Islamic scholar and Sufi mystic.