(Zukri Samat, nd). Islamic Bank has offered an alternative to conventional banking products and services, such as providing various credit facilities, trade finance, deposit taking, providing secure and maintain facilities and funds transfer based on Shariah or Islamic principles. For a 10 years period of time, Bank Islam Malaysia Berhad (BIMB) can operate without competition. This means that the Islamic bank is a bank that is allowed to offer Islamic banking products. (Ruzina Markon, 2009).
It produces Steel, flat steel products, long steel products, wire products, plates. It is the fourth largest producer of crude Steel in the world with an approximate production of 34,700,000 MT. It has always seeked an investment opportunity in other developing countries. In June 2005, it signed a MoU with the state of Odisha in India to construct a plant and increase their annual production
JSW Steel was the second largest player in steel after SAIL. The merger would therefore catapult JSW Ispat into profit making. Following are the strategic benefits from the merger: Capacity: With the completion of merger, JSW Steel would become the largest steel producer in the country after state-owned Steel Authority of India (SAIL) with 14.3 million tonnes capacity. Presently, JSW Steel had production capacity of 11 MTPA. Better utilization of infrastructure and elimination of redundancies would help to expand capacity.
In the International Organizations of Islamic Banks it was been report that less than 20% of Islamic Banking operations adopt PLS techniques. This also include the largest intergovernmental Islamic Bank (the Islamic Development Bank). Almost all Islamic Banking operations are based on mark-up (combining the features of deferred payment sale and a mark-up on price) rather than PLS. These interest-bearing products are marketed and passed as Islamic by Sharia Supervisory Boards (SSB). AAOIFI’s standard contribute to legitimizing them as Islamic to the Muslim public (Kuran, 2004, El-Gamal, 2006).
In Malaysia, first Islamic bank was introduce is Bank Islam Malaysia Berhad (BIMB) in July 1983 before the government allowed other conventional banks to offer Islamic banking service using their existing infrastructure and branches in 1993. Currently, the international and domestic environments in which Islamic Banks operate are going to become even more challenging. Hence, due to this situation, it is important for Islamic banking institutions to strengthen their business performance in order to face with the strong competition from domestic and foreign banks. Thus, the performance of these banks can be measured through profitability which is influenced by various factors. Therefore, this research is conducted to study the factors which determine profitability of islamic banking institutions in Malaysia, where special focus is given on bank-specific characteristic and macroeconomic characteristics.
It is the eleven time winner of Prime Minister’s Trophy for the Best Integrated Steel Plant in the country. The plant has its corporate office at New Delhi. The Corporate office formulates policies, strategies and overall guidelines for its units. Central organizations like CMO (Central Marketing organization), RDCIS (Research Development Center for Iron and Steel), CET (Center for Engineering and Technology) look after the relevant activities for the Plants under SAIL. SWOT Analysis of SAIL The primary functions of Bhilai Steel Plant are derived from the functions of the mother organization SAIL.
On 24th January 1976, the Burmah Shell Group of Companies was taken over by the Government of India to form Bharat Refineries Limited. On 1st August 1977, it was renamed Bharat Petroleum Corporation Limited. It was also the first refinery to process newly found indigenous crude (Bombay High), in the country. Prior to the nationalization of the Oil Companies, India was the battle ground of the Multinational Oil Companies like Caltex, Esso and Burmah Shell. Nationalization of the Oil companies changed the entire spectrum of this industry.
With the rights and responsibilities of the parties to a contract in Islamic banks are exceedingly clear and truthful. Also,with the mind-set that think for the whole nations not just for itself, the target is to provide benefits to the community in a broad way rather than just focus on profit plus, the Islamic system is protected from the risks of financial stress which restricting from speculative activities have made Islamic banking more ethical and efficient as compared to conventional banking (Zahar and Hassan,
The market for Islamic banking has been experiencing double digit growth for several years. According to Ernst & Young, although Islamic Banking still makes up only a fraction of the banking assets of Muslims, it has been growing faster than banking assets as a whole, growing at an annual rate of 17.6% between 2009 and 2013, and is projected to grow by an average of 19.7% a year to 2018. Some of the Islamic banking finance products are: • Ijara: ownership of the right to the benefit of using an asset for a period in return for a consideration. • Mudarabah: An Islamic contract in which one party supplies the money and the other provides management expertise to undertake a specific trade. • Musharakah: A joint enterprise or partnership structure with profit/loss sharing implications that is used in Islamic finance instead of interest-bearing loans Pakistan, being the Islamic country with Muslim majority encourages and promotes Islamic banking as it’s according to the Sharia law.
He became an articled clerk to a firm in Karachi called Gangat & Co which was situated in the Securities & Safe Deposit Chamber on I.I Chundrigar. His enthusiasm in stock markets eventually led him to starting his own company in October 1971. Later on Jahangir Siddiqui started a small organization called Jahangir Siddiqui & Co which essentially comprised of four persons. Today, Jahangir Siddiqui & Co is one of the biggest and well respected financial services companies in Pakistan with several subsidiaries which include Abamco, Pakistan’s largest non-government asset management company, Jahangir Siddiqui Capital Markets and Jahangir, Siddiqui Investment