Istisnaa is where the buyer asks the manufacturer to

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Istisna’a -Is where the buyer asks the manufacturer to create a specific commodity with material from the manufacturer. The price is fixed after all parties give their consent and agree a culture necessary specification of the commodity. Mudarabah -This is an agreement between the financier and the entrepreneur. The financier teams up with an entrepreneur (trade) to provide him with all necessary and share in profit of the enterprise at a pre agreed ration(or absorb the full loss in and when that occurred) in effect a sleeping partnership. (choudhury and masual 2003)
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Murabaha -This is a sales contract where the bank buys the asset and sells it to the client at a margin. Musharaka -This is where both partners invest capital in a business and jointly run the business. They then share the resulting profit or loss. (Ahmed, 2005) Riba -It is synonymous with interest. Salaam -It is a sales transaction where a commodity is sold before it becomes in existence. The cost of the commodity must be paid in advance to make the transaction valid. (abdulmajid, 2007) it is typically to financial agriculture.
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CHAPTER TWO LITERATURE REVIEW 2.1 Introduction In this chapter, a presentation of the available literature course in the subject matter was made. It looked in the Literature review theoretical, conceptual and operational framework orientation of the problem under investigation 2.2Theoretical orientation 2.2.1Management theory Management comprises controlling a group of one or more people or entities for the purpose of coordinating and harmonizing that group towards accomplishing a goal. Management often encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. Management can also refer to the person or people who perform the act(s) of management. The verb manage comes from the Italian Mangier (to handle-especially a horse), which in turn derives firm the Latin manus (hand). The French word management in the 17 th and 18 th centuries. Management has to do with power by position, where else leadership involves power by influence. Drucker (2002) wrote one of the earliest books on applied management, Concept of corporation (2009). It resulted from Alfred Sloan (chairman of general motors’ until (2001) commissioned study of the organization. Some of the more recent developments included the theory of constraints, management by objectives, re-engineering, and various information-technology-driven theories such as agile software development, as well as group management theories such Cog’s ladder. Towards the end of 20 th century, business management came to consist of six separate branches, namely; human resource management, operations management or production management, strategic management, marketing management, financial management, and information technology management responsible for management information systems. Public, private, and voluntary sectors plays different demands on managers, but all must retain the faith of those who select
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  • Summer '16
  • Dr. Willy
  • ........., Fractional-reserve banking

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