Wednesday, May 25, 2011

India's Missing Girl Child

Selective abortion of girls on rise among rich, educated

India the Emerging World Power, one of the strongest contender of UNSC permanent seat unfortunately can't save its own girls. The Indian society and present day social customs has made it very difficult to have a girl child. This is because of traditions in the society where girl is considered as burden and marriage becomes very difficult.

New Delhi: Between 42 lakh and 1.21 crore female foetuses were selectively aborted in the country in the last three decades and wealthy and educated families are increasingly going for abortion of the second girl child if their first-born too was a girl, claims a new study. Selective abortions of girls are estimated to be between 4.2 and 12.1 million over the three decades from 1980 to 2010, as per the research findings that are to be published in the upcoming issue of prestigious 'Lancet' magazine.

Parents are going for abortion of the second girl child to ensure that at least one child in the family be a boy.

Make marriage easy.





Women in Islam - Way to Peace and Salvation


a) As a child and an adolescent



Despite the social acceptance of female infanticide among some Arabian tribes, the Qur'an forbade this custom, and considered it a crime like any other murder.
"And when the female (infant) buried alive - is questioned, for what crime she was killed." (Qur'an 81:8-9). Criticizing the attitudes of such parents who reject their female children, the Qur'an states:
When news is brought to one of them, of (the Birth of) a female (child), his face darkens and he is filled with inward grief! With shame does he hide himself from his people because of the bad news he has had! Shall he retain her on (sufferance) and contempt, or bury her in the dust? Ah! What an evil (choice) they decide on? (Qur'an 16: 58-59).
Far from saving the girl's life so that she may later suffer injustice and inequality, Islam requires kind and just treatment for her. Among the sayings of Prophet Muhammad (P.) in this regard are the following:
Whosoever has a daughter and he does not bury her alive, does not insult her, and does not favor his son over her; God will enter him into Paradise. (Ibn Hanbal, No. 1957).
Whosoever supports two daughters till they mature, he and I will come in the day of judgment as this (and he pointed with his two fingers held together).



b) As a wife:


The Qur'an clearly indicates that marriage is sharing between the two halves of the society, and that its objectives, beside perpetuating human life, are emotional well-being and spiritual harmony. Its bases are love and mercy.
Among the most impressive verses in the Qur'an about marriage is the following.
"And among His signs is this: That He created mates for you from yourselves that you may find rest, peace of mind in them, and He ordained between you love and mercy. Lo, herein indeed are signs for people who reflect." (Qur'an 30:2 1).
According to Islamic Law, women cannot be forced to marry anyone without their consent.
Ibn Abbas reported that a girl came to the Messenger of God, Muhammad (P.), and she reported that her father had forced her to marry without her consent. The Messenger of God gave her the choice . . . (between accepting the marriage or invalidating it). (Ibn Hanbal No. 2469). In another version, the girl said: "Actually I accept this marriage but I wanted to let women know that parents have no right (to force a husband on them)" (Ibn Maja, No. 1873).
The Qur'an thus states:

"And they (women) have rights similar to those (of men) over them, and men are a degree above them." (Qur'an 2:228).
Such degree is Quiwama (maintenance and protection). This refers to that natural difference between the sexes which entitles the weaker sex to protection. It implies no superiority or advantage before the law. Yet, man's role of leadership in relation to his family does not mean the husband's dictatorship over his wife. Islam emphasizes the importance of taking counsel and mutual agreement in family decisions. The Qur'an gives us an example:
The Qur'an states:
"...But consort with them in kindness, for if you hate them it may happen that you hate a thing wherein God has placed much good." (Qur'an 4: l9).
Prophet Muhammad. (P) said:
The best of you is the best to his family and I am the best among you to my family.
The most perfect believers are the best in conduct and best of you are those who are best to their wives. (Ibn-Hanbal, No. 7396)



c) As a mother:



Islam considered kindness to parents next to the worship of God.
"And we have enjoined upon man (to be good) to his parents: His mother bears him in weakness upon weakness..." (Qur'an 31:14) (See also Qur'an 46:15, 29:8).
Moreover, the Qur'an has a special recommendation for the good treatment of mothers:
"Your Lord has decreed that you worship none save Him, and that you be kind to your parents. . ." (Qur'an 17:23).
A man came to Prophet Muhammad (P) asking:
O Messenger of God, who among the people is the most worthy of my good company? The Prophet (P) said, Your mother. The man said then who else: The Prophet (P) said, Your mother. The man asked, Then who else? Only then did the Prophet (P) say, Your father. (Al-Bukhari and Muslim).
A famous saying of The Prophet is "Paradise is at the feet of mothers." (In Al'Nisa'I, Ibn Majah, Ahmad).
"It is the generous (in character) who is good to women, and it is the wicked who insults them."


Sunday, May 22, 2011

Make Marriage easy and "Zina" difficult

"Make Marriage easy and Zina Difficult"
Today we are living in society where marriage has became difficult and it is getting more and more difficult. Becuase of this new generation is falling into other side and that is "Zina".

"O ye who believe! Save yourselves and your families from a Fire whose fuel is Men and Stones, over which are (appointed) angels stern (and) severe, who flinch not (from executing) the Commands they receive from God, but do (precisely) what they are commanded. [Holy Quran: Tahrim 66: 6]







  • Keep marriage as simple as possible and less expensive.



  • Avoid Haram in the marriage.( Photography, video, music and dancing)



  • Dowry - Father of the girl pays to boy and his family - which may include all kinds of material given in the name of gift.- TV, Car, bike, home, gold what ever you name and it is not islamic. Stop it ....... it is not Islamic and Haram



  • Bidda - Haldi and other local rituals before and after marriage. Dancing by girls. Stop it ....... it is not Islamic

  • Material given to parents of boy and girl in the name of gift ( cloth, money etc). Stop it ....... it is not Islamic



Remember there is no place for all this in Islam, all this will take you to the fire of hell. This is already spoilling our society and we all answerable to our Allah for our deeds.



And those who say: "Our Lord! Bestow on us from our wives and our offspring who will be the comfort of our eyes, and make us leaders for the Muttaqûn" Those will be rewarded with the highest place (in Paradise) because of their patience. Therein they shall be met with greetings and the word of peace and respect. Quran 25:74

Marriages in Islam are considered to be a very important Sunnah. But have we ever thought why it is getting so difficult to get married these days. When I thought of this topic, I recalled many people around me who are willing to get married but are not able to.

Problems are many… It is difficult to find the right partner. Even if they find a person with all “characteristics” they are looking for, caste system makes it more difficult.
But the issue which I want to raise is the extravagances done in marriages these days. For a middle-class man with minimal earning, it is the most difficult task to get their daughters and sons married. They start earning and collecting money at the time their daughters are born. The expenses done in different customs and rituals are so huge that it becomes unbearable. And it applies to both, the bride and bridegroom’s side.

When to Marry

Hadith - Sahih Bukhari, Volume 7, Book 62, Number 4, Narrated 'Abdullah
We were with the Prophet while we were young and had no wealth whatever. So Allah's Apostle said, "O young people! Whoever among you can marry, should marry, because it helps him lower his gaze and guard his modesty (i.e. his private parts from committing illegal sexual intercourse etc.), and whoever is not able to marry, should fast, as fasting diminishes his sexual power."
Hadith - Al-Tirmidhi #3090, Narrated Abu Hurairah, r.a.
Allah's Messenger (peace be upon him) said, 'When someone with whose religion and character you are satisfied asks your daughter in marriage, accede to his request. If you do not do so, there will be temptation on Earth and extensive corruption.' [Tirmidhi, Nasa'i and Ibn Majah transmitted it.]
Marry those among you who are single, or the virtuous ones among yourselves, male or female: if they are in poverty, Allah will give them means out of His grace: for Allah encompasseth (encompasses) all, and he knoweth (knows) all things. An-Nur 24:32
The consequences of not paying attention on this important Hadeeth can be seen very clearly in the society. Modesty is a lost feature now. Dating can be seen as a habit in youngsters. If a youngster does not have a boyfriend or girlfriend, he/she is considered to be very outdated and good for nothing. We are progressing towards a society, where Zina is becoming a very common feature. And all this is because of delay in marriages - which is due to lack of money to spend extravagance in unnecessary rituals. Nowadays, it is easy to indulge in Zina. We have made Zina easier for our youngsters than getting married. If a youngster really wants to follow Shariah, and asks his parents to get him or her married, the answer they get is that ‘We are not in a situation to get you married before one or two years, we need some more time to collect the required money’. And after this if this youngster gets involved in a relationship not allowed by Shariah, whom are you going to blame? Aren’t their parents responsible for that?
Allah commands in the Glorious Quran “And come not near to adultery: for it is a shameful (deed) and an evil, opening the road (to other evils).” [Surah Isra (17):32]
Prophet (S) said - Make Marriage easy so that "Zina" (Illegal sex) becomes difficult.
O you men! surely We have created you of a male and a female, and made you tribes and families that you may know each other; surely the most honorable of you with Allah is the one among you most careful (of his duty); surely Allah is Knowing, Aware. (Holy Qur'an 49:13)

Prophet Muhammad (S) considered simple weddings the best weddings:'The best wedding is that upon which the least trouble and expense is bestowed". (Mishkat)Extravagance discouragedNarrated 'Aisha (may Allah be pleased with her) that Allah's Messenger (may Allah's blessings and peace be upon him) said; "Blessed is the marriage which does not entail much expenditure." (Bayhaqi)

Whom to Marry

Marry the pious

Hadrat Abu Hurayra (may Allah be pleased with him) reported Prophet Muhammad (may Allah's blessings and peace be upon him) as saying, "A woman may be married for four reasons; for her property, her rank, her beauty and her religion, so get the one who is religious and prosper." (Bukhari and Muslim)
Virtuous wives are the best Hadrat 'Abdullah ibn 'Amr ibn al-'Aas (may Allah be pleased with him) relates that the Holy Prophet Muhammad (may Allah's blessings and peace be up upon him) said: "The whole world is a place of useful things and the best thing of this world is a virtuous woman (wife)." (Muslim)
The greatest blessing in the world is a pious wife. - The Prophet of Islam (saw)
A Pious Poor Man is a Better Marriage Suitor than a Rich Man Who is Not PiousHadith - Bukhari 7.28, Narrated Sahl
A man passed by Allah's Apostle and Allah's Apostle asked (his companions) "What do you say about this (man)?" They replied, "If he asks for a lady's hand, he ought to be given her in marriage; and if he intercedes (for someone) his intercessor should be accepted; and if he speaks, he should be listened to." Allah's Apostle kept silent, and then a man from among the poor Muslims passed by, an Allah's Apostle asked (them) "What do you say about this man?" They replied, "If he asks for a lady's hand in marriage he does not deserve to be married, and he intercedes (for someone), his intercession should not be accepted; And if he speaks, he should not be listened to." Allah's Apostle (saaws) said, "This poor man is better than so many of the first as filling the earth."

Have a look at the girl

Narrated Hadrat Jabir (may Allah be pleased with him): Prophet Muhammad (may Allah's blessings and peace be upon him) said: "Before proposing marriage to any woman, one should have a look at her if possible." (Abu Dawud)
From Abu Hurayrah: “I was with the Prophet (peace and blessings of Allaah be upon him) when a man came and told him that he had married a woman of the Ansaar. The Messenger of Allaah (peace and blessings of Allaah be upon him) said to him, ‘Have you seen her?’ He said, ‘No.’ He said, ‘Go and look at her, for there is something in the eyes of the Ansaar.” (Reported by Muslim, no. 1424; and by al-Daaraqutni, 3/253 (34))Accept good proposalsHadrat Abu Hurayra (may Allah be pleased with him) reported Prophet Muhammad (may Allah's blessings and peace be upon him) as saying, "When someone with whose religion and character you are satisfied asks your daughter in marriage, accede to his request. If you do not do so there will be temptation in the earth and extensive corruption". (Tirmidhi)

Mahr

The Noble Qur'an 4:4
And give to the women (whom you marry) their Mahr (obligatory bridal money given by the husband to his wife at the time of marriage) with a good heart, but if they, of their own good pleasure, remit any part of it to you, take it, and enjoy it without fear of any harm (as Allâh has made it lawful).
Narrated Hadrat Anas (may Allah be pleased with him): Hadrat 'AbdulRahman ibn 'Awf (may Allah be pleased with him) got married and gave his wife gold equal to the weight of a date stone (as Mahr). When Prophet Muhammad (may Allah's blessings and peace be upon him) noticed the signs of cheerfulness of the marriage (on his face) and asked him about it he said, "I have married and given (my wife) gold equal to a date stone in weight (as Mahr)". (Bukhari)

Narrated Hadrat Sahl bin Sa'd: A woman presented herself to Prophet Muhammad (may Allah's blessings and peace be upon him) (for marriage). A man said to him, "O Allah's Apostle! (if you are not in need of her) marry her to me." The Prophet (may Allah's blessings and peace be upon him) said (to him), "What have you got?" The man said, "I have nothing". The Prophet (may Allah's blessings and peace be upon him) said (to him), "Go and search (for something) even if it were an iron ring." The man went and returned saying, "No, I have not found anything, not even an iron ring, but this is my waist sheet and half of it is for her". He had no Rida (upper garment). The Prophet (may Allah's blessings and peace be upon him) said, "What will she do with your waist sheet? If you wear it, she will have nothing over her and if she wears it, you will have nothing over you." So the man sat down and when he had sat a long time, he got up (to leave). When the Prophet (may Allah's blessings and peace be upon him) saw him (leaving), he called him back, or the man was called (to him) and he said to the man, "How much of the Qur'an do you know (by heart)?" "I know such and such suras (by heart)", said the man naming the suras. The Prophet (may Allah's blessings and peace be upon him) said, "I have married her to you for what you know of the Qur'an". (Bukhari)

Marriage Is A Basis For Blessings 1. The Prophet sallallahu alaihe wasallam has stated, "Marriage is the basis for blessings and children are an abundance of mercy." There is no better structure founded in Islam other than marriage. - The Prophet of Islam (saw)

Whoever chooses to follow my tradition must get married and produce offspring through marriage (and increase the population of Muslims) so that on the day of resurrection I shall confront other Ummah (nations) with the (great) numbers of my Ummah. - The Prophet of Islam (saw)

Verily, the most perfect amongst believers in faith is he who is the best in manner and the kindest to his wife. - The Prophet of Islam (saw)

Marriage fulfils half of the religionHadrat Anas (may Allah be pleased with him) reported Prophet Muhammad (may Allah's blessings and peace be upon him) as saying, "When a man marries, he has fulfilled half of the religion; so let him fear Allah regarding the remaining half." (Bayhaqi)

Behave best towards wivesHadrat Abu Hurayra (may Allah be pleased with him) relates that the Holy Prophet Muhammad (may Allah's blessings and peace be upon him) said: The most perfect Muslim in the matter of faith is one who has an excellent behaviour; and the best among you are those who behave best towards their wives. (Tirmidhi)

Acts to be Avoided

We should be careful to not act as the disbelievers do regarding their mixing of men and women, wearing tuxedos and white wedding gowns, exchanging rings, kissing in public, etc. Prophet Muhammad (sallallahu alayhi was sallam) said, "Whoever resembles a people is one of them. " (Abu Dawood)

Friday, May 20, 2011

At IMF, Men on Prowl and Women on Guard - CNBC

At IMF, Men on Prowl and Women on Guard - CNBC

This is the standard of world bodies. Those who can not governed themseves just can not preach it. Preaching starts with self. There is no place and no need of corrupt leaders.
Why should Europe get this job at all?
The criteria should be the best suited person should take the job. Bankrupt Europe should think more rationally, there is better leaders should be given chance not corrupt leaders.

Thursday, May 19, 2011

Islamic Bank the challenges

Forbidden to you (for food) are: dead meat, blood the flesh of swine, and that on which hath been invoked the name of other than Allah, that which hath been killed by strangling, or by a violent blow, or by a headlong fall, or by being gored to death; that which hath been (partly) eaten by a wild animal; unless ye are able to slaughter it (in due form); that which is sacrificed on stone (altars); (forbidden) also is the division (of meat) by raffling with arrows: that is impiety. This day have those who reject Faith given up all hope of your religion: yet fear them not but fear Me.
This day have I perfected your religion for you, completed my favors upon you, and have chosen for you Islam as your religion.

But if any is forced by hunger, with no inclination to transgression, Allah is indeed Oft-Forgiving Most Merciful. (3) Quran Al Maidah 3

· Islam is completed and there is no transition, shariah is complete and there can’t be any more addition.
· The door of Ijtehaad is open but stopped long time ago.
· Ijma of Scholars of Ummah is open and practiced.
Those who are talking of transition period, there is no transition. There are no differences or dispute on any of the basic principles of Shariah.
· Maqasid al Shariah – everyone is agreed on it.
· Halal and Haram everyone agrees and no issues.
· Ethics, moral values and transparency is agreed upon.
· Basic principles of contract and product is agreed
Transition is only related to work in progress for something innovative within parameters and limits of shariah. (This should go on and more expertise and competence should be develop.)
I am talking of basic principles which have been agreed by AAOIFI and IFSB and IOC Fiqah Academy. How much compliant are our institutions are? I am talking about three examples.
· Even though Shariah Board of the company has very clear opinion and this opinion that the contract is Shariah Compliant and this opinion is held by all Shariah Scholars also, do company has any right to go to the secular court and fight a case in secular court (judge do not understand Shariah, his judgment will be based on who has better lawyer and argument) because company has ill intentions not to pay.
· Is there any logic or compliance when funds invest in haram, whatever may be the case?
· Can there be Sukuk for a company engaged in Haram Activities and its majority income is Haram.
· Sukuk are assets based or assets backed, when they default why there is long litigation, basically the assets should be sold to pay the investors.( there are big litigations and fights because really we do want a product which can be sold as Islamic in market but we do not want to adhere to the principle and spirit of Shariah.)
· Shariah Compliance inside the institution and its practices and its supervision of activities. How many of IFI are following these standards.
· Derivatives and structured products – There is no scope that industry can act in this matter, industry do not any right to come out re packaged product. There is no place of self-regulation (regulating or enacting or making new law) or self-governance (self-regulation). Only Shariah Scholar based on Ijma of Scholars of Ummah can come to some kind of solution for this. There is no place for industry overtones or self-proclaimed product agreed by Industry. (Even if all Ummah agrees on Haram, it cannot be allowed and will always remain Haram.)
· Industry must have enough presentation for those who understands and follows Shariah so that these people can keep watch on complete life cycle (product life cycle) of IFI products and services.
· Just Shariah Board an outsider is not enough to say company is Shariah Compliant and its Product and services is Shariah Compliant.
· There must be enough Muttaqueen (pious, who fear Allah and Follows Shariah in all aspects of life). Unless and until this happens there is little chances the IFI can remain Islamic.

Tuesday, May 17, 2011

Government takes over Dubai Bank target=

Government takes over Dubai Bank target=

How much Islamic are Islamic Bank ?

I have written on the Dubai's debacle before also. Today I am going more the pracyices adopted by Islamic Bank's and financial institutions and they are not Islamic, or does not comply with basic principles of Shariah. This is very important issue.
Islamic Bank and Financial Institutions needs cleaning , from its practices and peoples who themselves does not have enough trust in their own system. I am writting with my experience and due diligence I did while acquisition process or otherwise and public information available on these companies from stock markets.


  1. The myth about Islamic Funds ( offshore / private equity) - Only the contract remains Islamic and Shariah board has responsibility only. I have seen after that they are indulging in all Kinds of activities, investment in hotels which serves alcohol,financing conventional, and conventional leveraging more than value of fund itself. When I asked them these are funds and funds are Islmic and investment has nothing to do with investment they are making. There is not a single person who understands shariah and can look after the interest of the investor. Unfortunately this is the story and it is very sad.

  2. The most important diffrence is moral values and transparency. _ The moral's are equally bad may be more. When I look through the balance sheet and it is equally manupulative. The industry need to understand they need people who belive and has trust in the Islamic Banking and has very high moral standards. ( Taqawa ). Shariah Scholar and Promoter must understand the diffrence, if they are coming just to make money they Dubai is waiting for such people, the debacle. The leadership of such companies should be shariah compliants.

  3. The funds, investments and all value chain must remain clean andshariah compliant, otherwise there is no difference.

  4. The muslims come to the Islamic Finance the most important reason is religion, they want halal income. They do not want to go to the Fire ( Jahannam ) for eating haram in this life. This is sole reason, profit is always secondary, two things investor expect from them is Good Service and Halal Profit. ( If islamic finance can not give halal return then there is no need of it.) I personally know thousands people who leave their interest in banks and give in writting to bank please do not pay us interest.

  5. Juridiction - (فَلَا وَرَبِّكَ لَا يُؤْمِنُونَ حَتَّى يُحَكِّمُوكَ فِيمَا شَجَرَ بَيْنَهُمْ ثُمَّ لَا يَجِدُوا فِي أَنْفُسِهِمْ حَرَجًا مِمَّا قَضَيْتَ وَيُسَلِّمُوا تَسْلِيمًا ﴿4:65﴾

(4:65) But no, by your Lord, they cannot become true be-lievers until they seek your arbitration in all matters on which they disagree among themselves, and then find not the least vexation in their hearts over what you have decided, and accept it in willing submission. *95.The application of the injunction embodied in this verse is not confined to the life-time of the Prophet (peace be on him). It will remain in force until the Day of Judgement. The guidance the Prophet (peace be on him) proclaimed on God's behalf, and the manner in which he followed God's direction and inspiration, will for ever remain the universal touchstone for Muslims. In fact, recognition of that guidance as the final authority is the criterion of true belief. This principle was pronounced by the Prophet (peace be on him) in the following words: 'None of you can become a believer until his desires become subservient to what I have brought (i.e. my teachings).' (Cited by al-Nawawi in al-Arba'in, see the tradition no. 41, transmitted on their authority of Abu al-Qasim Isma'il b. Muhammad al-Isfahani, Kitab al-Hujjah with the opinion that it is a 'good' and 'sound' tradition, with a sound chain of transmission - Ed.)


Those who do not want to follow Islamic Principles they go and fight cases in secular courts even if their own Shariah Baoard is advising them otherwise. Such companies has ill intensions in their heart and they do not want to pay their investors.



  1. The practices of Islamic Banking - Tawwaruk and Murabah must comply Shariah. They are allowed but in practice how much shariah compliant they are. Secondly Wkalah contract is ISlamic, but what happens after that must be Islamic. The practices and procedures must comply Shariah.

  2. New Products - Islamic Finance do not need to compete with conventional product. Virtual products has no place in Ilamic Finace - Any kind of derivatives or derivatives based product are not needed. The scholras and industry who are trying to develop such thing must restrain themselves and sought guidance from Allah ( Istekhara). What Islamic Finance needed is people who believe and trust and work with Guidance from Allah. Allah will ( Insha Allah) will guide them to right product development and best practices.

  3. The product must satisfy following requirement.

o Maqasid al Shariaho


Conditions of contract


Islamic Economic SystemIslamic economics is based on the Shariah. The basic objectives are to ensure general human well-being and socio-economic justice.


THE DISTINCTION BETWEEN CONVENTIONAL AND ISLAMIC THEORIES


The Role of Moral Values


While conventional economics generally considers the behavior, tastes and preferences of individuals as given, Islamic economics does not do so. It places great emphasis on individual and social reforms through moral uplift.


The Importance of the Hereafter


The Hereafter is a concept which is completely ignored by conventional economics, but it is one which is greatly emphasized by Islam. Because of their innate goodness, human beings do not always try to serve their self-interest.


MAQASID E SHARIAH- the Objectives of Shari'ah


Maqasid al-Shari'ah that is, the objectives of Shari'ah can be defined as below:· Maqasid al-Shari'ah comprises those benefits/welfare/advantages for which Allah has revealed His Shari'ah.· Maqasid al-Shari'ah aims at the attainment of good, welfare, advantage, benefits, etcetera, and warding off evil, injury, loss, etcetera, for the creatures. (All this in Arabic terminology can be stated as Masalih al-'Ibad.)


Islamic Commercial Law -Legality of Cause, Object and Consideration


Let us All of us introspect and ask for guidance and success is for those who chose right path. ( Sirat e Mustkim).


وَقُلْ جَاءَ الْحَقُّ وَزَهَقَ الْبَاطِلُ إِنَّ الْبَاطِلَ كَانَ زَهُوقًا ﴿17:81﴾


17:81) And declare, "The Truth has come and falsehood has vanished: for falsehood is a thing that must by its nature vanish."



At the time of this declaration, the persecution of the Muslims was at its height. A large number of them had emigrated to Habash, and those who had remained behind were suffering from untold hardships at Makkah and its suburbs: so much so that the life of the Holy Prophet himself was always in danger. Therefore, to all appearances, falsehood was prevailing everywhere and there was no sign to show that the truth would ever overpower falsehood. That is why the disbelievers took it for a boastful talk and scoffed at it when this declaration was trade. But this prophecy of victory did come out true in less than a decade when the Holy Prophet entered the same city of Makkah as a conqueror, and entered the Ka'abah where he made the same declaration while he was breaking the three hundred and sixty idols. According to a Tradition of Bukhari, related by Hadrat 'Abdullah bin Mas`ud, "On the day of the conquest of Makkah the Holy Prophet went on striking idols and uttering these words: `The Truth has come and falsehood has vanished; for falsehood is a thing that must by its nature vanish. The Truth has come and falsehood will never reappear nor return' . "




Monday, May 16, 2011

EU-US Economies - Will Another Lehman-Style Crisis Be Prevented? - CNBC

EU-US Economies - Will Another Lehman-Style Crisis Be Prevented? - CNBC

No it is not possible. The crisis can not be prevented. When we look at present situation not much has been changed and the causes of the previous collapse are still existant in the market.


  • Too Big to Fail -- The companies which were affected and needs rresue have become bigger, the systematic risk of collapse of the system has not removed or reduced, over the years it has increased.

  • Off Balance Sheet Transaction - Derivatives and swaps are there and no body really knows how much each of them owe. How much risk or swaps or derivates they have played. Derivatives are sttill off balancesheet and not goverened by the Financial Authorities.

  • Toxic assets are still there on the balance sheet sitting and looking pretty beutiful. No one knows how much toxic each of them has and what is its worth.

  • Credit Rating Agencies are same, methods are same and methodology is the same. They are still beyond control and again started playing the dirty game.

  • Auditors are same - they have not changed their behaviour and practices. They are not controlled and supervised.

  • Housing is going down, mortges are under water and bond for them are in market. Game is still on.

Unless and untill the reasons behind the crisis are corrected, another crisis can not be avoided.


The only difference is that, Mr. Ben Bernanke has new printing press and this one is priting Dollars and Printting as much he want. No one in world is sure what is worth of this Dollar.


Sunday, May 15, 2011

IMF chief held for alleged sexual attack - Americas - Al Jazeera English

IMF chief held for alleged sexual attack - Americas - Al Jazeera English

These are the ethics and moral standards of heads of global institutions. These institutions preach the ethics and morals to everybody, " Nations and Individuals." The peoples who are corrupt in their personal life, how can they serve the humanity. The most important criteria for the leadership is its Moral Standards.

The best has the first right to lead and defination of the best is, "Quran :- (49:13) Human beings, We( Allah) created you all from a male and a female, and made you into nations and tribes so that you may know one another. Verily the noblest of you in the sight of Allah is the most God-fearing of you. Surely Allah is All-Knowing, All-Aware"

The qualities of leadership is as below,


Islamic perspective of Holistic Leadership
• Leadership in Islam
§ Definition - Process of moving and guiding people in a planned direction in which is truly in their long term best interest. Leadership is about making a change for the better
§ Objective - Provide for happiness (al falah) in this world and hereafter (dual worldview)
§ Mechanism - Obedience to the Shariah. Act in accordance with the injunctions of Allah and His Prophet

• Guiding Principles
§ Trust (Amanah)
§ Responsibility (Taklif)
§ Accountability (Mas’uliyyah)

• The Prophet Muhammad, (PBUH) is the greatest leader of all time

• Prophet’s Leadership Qualities:
§ Guiding others through modeling
§ Talent and technical specific skills
§ Initiative and drive
§ Charismatic inspiration
§ Preoccupation with role
§ Clear sense of purpose
§ Results oriented
§ Cooperation work with others
§ Encourage and nurture others below
§ Optimistic

Islamic perspective of holistic leadership

10 Essential Personal Qualities of Muslim Leaders

• Fasahah - Eloquence. Communication skills are necessary for any leadership role
"I have been given the authority over you, and I am not the best of you. If I do well, help me; and if I do wrong, set me right. Sincere regard for truth is loyalty and disregard for truth is treachery. The weak amongst you shall be strong with me until I have secured his rights, if God will; and the strong amongst you shall be weak with me until I have wrested from him the rights of others, if God will. Obey me so long as I obey God and His Messenger (Muhammad, pbuh). But if I disobey God and His Messenger, ye owe me no obedience. Arise for your prayer, God have mercy upon you.“
Abu Bakar when he was appointed as khalif

• Adl – Justice

O you who believe! Stand out firmly for Allah, as witness to fair dealings and let not hatred of others to you make you swerve to wrong and depart from justice. Be just that is next to piety (Quran 5:8)

• Shura - Mutual consultation or decision making. What kind of counselors do we need?

Extract of Letter written by Khalifah Ali bin Abi Talib addressed to Malik Bin Al Haris on his appointment as Governor of Egypt (655 C.E.)

“The worst of counselor is he who has served as counselor to unjust rulers and shared their crimes. So never let men who have been companions of tyrants or shared their crimes be your counselors. You can get better men than these, men gifted with intelligence and foresight, but unpolluted by sin, men who have never aided a tyrant in his tyranny or criminal in his crime. Such men will never be a burden to you. On the other hand, they will be source of help and strength to you at all times”.

• Taqwa - Fear of Allah

It is only the evil one that suggests to you the fear of his allies; be you no afraid of them, but fear Me, if you have faith! (Quran 3:175)

• Yaqin - conviction.

The leadership of Abu Bakar in handling the Romans, those who refused to pay zakat and the false prophet musailamah. Umar thought that it would not be a good idea to fight those people just because they fail to pay zakat. Abu Bakar replied “Revelation finished and religion was completed. Would it decrease while I am alive? When Umar say the strong conviction and firmness of Abu Bakar he immediately changed his position.

• Ma’refah - Knowledge

[and] God will exalt by [many] degrees those of you who have attained to faith and, [above all,] such as have been vouchsafed [true] knowledge: for God is fully aware of all that you do.(al-mujadalah: 11)

• Sabr - Patience

Be sure We shall test you with something of fear and hunger, some loss in goods or lives or the fruits (of your toil), but give glad tidings to those who patiently preserve. Who say when afflicted with calamity “To Allah we belong and to him is our return” (Quran 2: 155-156)
Or do you think that you shall enter the Garden (of Bliss) without such (trials) as came to those who passed away before you? They encountered sufferings and adversity, and were so shaken in spirit that even the Messenger and those of faith who were with him cried: “When (will come) the help of Allah” Ah the help of Allah is (always) near!

• Leen - Leniency

It was by the mercy of Allah that you were lenient with them (O Muhammad), for if you had been stern and fierce of heart they would have dispersed from round you. So pardon them and upon the conduct of affairs. And when you are resolved, then put your trust in Allah. Lo! Allah loves those who put their trust (in Him). Quran 3: 159

• Tadhhiyah - Self-Sacrifice

God has purchased of the believers their persons and their goods: for their (in return) is the garden (of paradise): They fight in His cause and slay and are slain, a promise binding on Him in Truth, through the Law, the Gospel and the Quran: and who is more faithful to his covenant than God? They rejoice in the bargain which we have concluded: That is the achievement supreme. Quran 9:111
Attitude and sacrifice of the prophet and him companions: Invocation of the prophet just before the battle of Badr “O God, here is Quraysh with all her tribe seeking to belie your Prophet. O God, give us the assistance which you promised. O God, if this little army perishes, when will you be worshipped again?”
The above invocation of the prophet indicates that even at the perilous moment before battle, the prophet’s mind is centered upon completion of his mission so that Islam prevails on this earth.
The prophet is never concerned for himself and had indeed sacrificed everything for the sake of Allah and His religion - Islam.


Statement by an Italian scholar, Leone P Di Teonao Caetani, writing in the late 17th century about the companions of the Prophet:

• These men were the true moral heirs of the prophet, the future apostles of Islam, the faithful trustee of all that Muhammad had revealed unto the men of God
• Into these men, through their constant contact with the Prophet and their devotion to him, there had already entered a new mode of thought and feeling, loftier and more civilized than any they had known before: they had really changed for the better from every point of view, and later on as statesmen and generals, in the most difficult moments of war of conquest they gave magnificent and undeniable proof that the ideas and the doctrines
• Muhammad had been seed cast on fruitful soil, and had produced a body of men of the very highest worth


It is the right of people to chose best leadership for them, the one who is not corrupt and moraly bad. It is human right of the people to have a leader who is ameen ( trustworthy) and who can preserve wealth and rights of people. We do not need morally corrupt leaders to head global bodies and nations.






Friday, May 13, 2011

THE RESPONSIBILITY OF UMMAH

THE RESPONSIBILITY OF UMMAH


“AMR BIL MA’ROOF WAN NAHI ANIL MUNKAR”



There is ijma of the u’lemaa’ that amr bil ma’roof wan nahi anil munkar is fard due to the explicit commands in the Quran and Sunnah and the condemnation, curse and criticism connected to those who neglect it. These two words came together in Quran ten times, and they are not separated. Just by calling people towards good may not work and will destroy the society as it has destroyed before.


(3:104) And from among you there must be a party who invite people to all that is good and enjoin the doing of all that is right and forbid the doing of all that is wrong. It is they who will attain true success.
(3:110) You are now the best people brought forth for (the guidance and reform of) mankind. *88 You enjoin what is right and forbid what is wrong and believe in Allah. Had the People of the Book *89 believed it were better for them. Some of them are believers but most of them are transgressors.
(3:114) They believe in Allah and in the Last Day and enjoin what is right and forbid what is wrong, and hasten to excel each other in doing good. These are among the righteous.

Abu Saee’d al Khudri reported that Nabi (saw) said “If one of you sees a munkar he should change it with his hand if he is not able then with his tongue and if he is not able then with his heart and that is the weakest of imaan” (MUSLIM) This hadeeth is a command to every individual Muslim to remove munkar if he encounters it, if he cannot remove it then she should forbid with his tongue and if he is not capable of this then he must at least hate the munkar in his heart and desire it to be changed.

(9:112Those who turn back to Allah over and over again; those who worship Him, those who sing hymns in His praise, those who move about in the land for His sake, those who bow down and prostrate before Him, those who enjoin virtue and forbid evil and strictly observe the limits prescribed by Allah (are the Believers who make such a bargain with Allah; and O Prophet, give good news to such Believers.

That is those who "strictly observe the limits prescribed by Allah . . . . . " in regard to the Articles of the Faith, worship-morality, social behavior, culture, economics, politics, judiciary, peace and war- in short, in all the aspects of their individual and collective lives. They neither transgress these limits in order to follow their lusts nor invent laws nor replace the Divine Law by other laws. They establish these limits and prevent their violations. Hence, the true Believers are those who not only strictly observe the limits prescribed by Allah, but also do their very best to establish them and safeguard them so as to prevent their violation to the best of their powers and capabilities.

These are limits which Ummah has responsibility towards mankind. Today what has been forbidden by law has become part of our life and what we have been to do, we have forgotten. This is exactly the reason when Ummah stop doing responsibility then Allah removed them from that responsibility.
This is what mentioned in Quran.

(5:78)Those of the Children of Israel who took to unbelief have been cursed by the tongue of David and Jesus, son of Mary, for they rebelled and exceeded the bounds of right.
(5:79)They did not forbid each other from committing the abominable deeds they committed. Indeed what they did was evil.
The corruption of any nation begins with that of a few individuals. If the collective conscience of that nation is alive, the pressure of public opinion keeps those persons in check and prevents the nation as a whole from becoming corrupted. But if instead of censuring such individuals, the nation leaves them free to behave corruptly, the corruption originally confined to a few continues to spread till it engulfs the whole nation. It was this which ultimately caused the degeneration of Israel. (For the curse against Israel in the words of David and Jesus see Psalms 10, 50 and Matthew 23.)

I am not discussing MARUF, I am talking of MUNKAR which has entered our society and slowly and slowly it becomes part of our society. Society has stopped them considering evil. These evils are destroying our society.


What are the major MUNKAR in our society?


1. Shirk (Associating others with Allah) – this is also not point of discussion today.
2. Riba – I have written about this in my previous posts.

TODAY’S PROBLEM IS, PHOTOGRAPHY, VIDEOGRAPHY AND MUSIC.


All these three has been forbidden in Islam but all these have become part and parcel of lives. Society has stopped considering it forbidden. (Haram) – Prohibited.
It is not permissible to make video recordings or produce pictures of animate objects where there is no dire need (eg; taking pictures for Passports, Visas etc). Picture making (of animate objects) is regarded to be a major sin in Islam.
Ibn 'Abbaas (may Allah be pleased with him and his father) reported that the Prophet (peace and blessings of Allah be upon him) said: "Every image-maker will be in the Fire, and for every image that he made a soul will be created for him, which will be punished in the Fire." Ibn 'Abbaas said: "If you must do that, make pictures of trees and other inanimate objects."

sahih Bukhari Vol 3, Book 34. Sales And Trade. Hadith 318.
Narrated By 'Aisha : (Mother of the faithful believers) I bought a cushion with pictures on it. When Allah's Apostle saw it, he kept standing at the door and did not enter the house. I noticed the sign of disgust on his face, so I said, "O Allah's Apostle! I repent to Allah and H is Apostle. (Please let me know) what sin I have done." Allah's Apostle said, "What about this cushion?" I replied, "I bought it for you to sit and recline on." Allah's Apostle said, "The painters (i.e. owners) of these pictures will be punished on the Day of Resurrection. It will be said to them, 'Put life in what you have created (i.e. painted).' " The Prophet added, "The angels do not enter a house where there are pictures."

Today there is phone with camera which can click anything all the time, it is just like evil in the hand. These pictures and video’s will take those who are clicking it to the fire of hell.
1. [It was narrated] from ‘Abd Allah ibn ‘Umar (Allah be pleased with him) [that] he said: Allah’s Messenger (Allah bless him and grant him peace) said, “Verily those who make these pictures will be punished on the Day of Resurrection. It will be said to them ‘Bring to life what you have created!’” Al-Bukhari transmitted it in Bab ‘Adhab al-Musawwirin, and Muslim in this chapter.
2. [It was narrated] from ‘Abd Allah ibn Mas‘ud (Allah be pleased with him) [that] he said: Allah’s Messenger (Allah bless him and grant him peace) said, “Verily, of the most grievously tormented people on the Day of Resurrection are picture-makers.” Al-Bukhari and Muslim transmitted it.
3. Abu Zur‘ah said: I entered the house of Marwan with Abu Hurayrah, and he saw pictures therein and said: I heard Allah’s Messenger (Allah bless him and grant him peace) say, “Allah (Great and Glorious is He) said, ‘And who is more unjust than one who set out to create a creation like My creation? Let them create an atom, let them create a grain, or let them create a barleycorn!’” Al-Bukhari transmitted it in Bab Naqd al-Suwar, and Muslim in this chapter.
4. The hadith of Abu Talha in this chapter: “Angels do not enter a house in which there is a dog or a picture.”
5. [It was narrated] from Abu Hurayrah (Allah be pleased with him) in marfu‘ form: “Angels do not enter a house in which there are sculptures or pictures.” Muslim transmitted it in this chapter.
MUSIC

Islam totally forbids adultery and also those things that lead to it. Allah Most High says:
“And do not come near to adultery, for it is a shameful deed and an evil, opening the road (to other evils)” (al-Isra, 32).
Islam does not only prohibit adultery and fornication, but also those things that may lead to it. This is the reason why the Qur’an orders Muslim men and Women to lower their gazes. It prohibits one from being alone with someone from the opposite sex (khalwa). Informal interaction with the opposite sex has also been made unlawful.
This is also one of the main reasons for the prohibition of music, as it effects one’s emotions, creates arousal, passion and excitement, and also leads to various physiological changes in the person. It is a psychological proven fact that two things are instrumental in arousing the human sexual desire, one being the voice of a female (for males) and the other music.
1) Allah Most High says:
“And there are among men, those that purchase idle tales, to mislead (men) from the path of Allah and throw ridicule. For such there will be a humiliating punishment” (Surah Luqman, V. 6).
The great Companion Abd Allah ibn Mas’ud (Allah be pleased with him) states in the explanation of the word “idle tales”:
“By Allah its meaning is music” (Sunan al-Bayhaqi, 1/223 & authenticated by al-Hakim in his Mustadrak, 2/411).
Imam Ibn Abi Shayba related with his own transmission that He (Ibn Mas’ud) said:
“I swear By Him besides whom there is no God that it refers to singing” (132/5).
The great Companion and exegete of the Qur’an, Abd Allah ibn Abbas (Allah be pleased with him) states:
“The meaning of the word is music, singing and the like” (Sunan al-Bayhaqi, 1/221& Musannaf Ibn abi Shayba, 132/5).
He also stated:
“Music and the purchase of female singers” (Musannaf Ibn Abi Shayba, 132/5).
Hasan al-Basri (Allah be pleased with him) said:
“This verse was revealed in relation to singing and musical instruments” (Tafsir ibn Kathir, 3/442)
The same explanation has also been narrated from Mujahid, Ikrima, Ibrahim Nakha’i, Mak’hul and others (Allah be pleased with them all).
(1) Hadhrat Abu Maalik Ash'ari says that he heard Rasulullah says:
"Most certainly, there will be in my Ummah people who will make lawful fornication, silk, liquor and musical instruments." (Bukhaari)

(2) In another version of this narration, Rasulullah said:
"Most certainly, people from my Ummah will consume liquor which they will describe with some other name. Over their heads will be playing musical instruments and singing girls. Allah will cause the earth to swallow them, and from among them He will transform into apes and pigs." (Ibn Maajah )

The punishment for music and singing is exceptionally severe. Some Juhhaal (ignoramuses) have attempted to escape the condemnation of music and singing stated in this Hadith by presenting a very stupid argument. They argue that the punishment mentioned in this Hadith applies to a collective act which consists of four deeds, viz., fornication, silk, liquor and music.
(3) Imraan Bin Husain narrates that Rasulullah said:
"In this Ummah will be earthquakes, disfiguration (of faces which will be transformed into apes and pigs) and showers of stone (descending on them from the heaven)." A man from among the Muslimeen said: "O Rasulullah ! When will this be?" Rasulullah said: "When singing girls and musical instruments will become profuse and when liquor will be consumed (in abundance)." (Tirmizi)

(4) Hadhrat Abu Hurairah narrated that Rasulullah said:
"During the last of ages (in close proximity to Qiyaamah) a nation from my Ummah will be disfigured (and transformed) into apes and pigs." The Sahaabah said: "O Rasulullah ! Will they be Muslim?" Rasulullah said: "Yes. They will be testifying that there is no deity but Allah and that I am His Rasool, and they will be fasting (in the month of Ramadhaan)." The Sahaabah asked: "O Rasulullah ! What will be their condition (to warrant such chastisement)?" Rasulullah said: "They will be indulging in musical instruments, singing girls, musical drums, and they will be consuming liquor. They will one night go to sleep after their liquor and amusement. When they arise in the morning, they will have been disfigured (and transformed into apes and pigs)." (Kaf-fur Ruaa’)

It is apparent from this Hadith that the musical drum (the Tablah of the Qawwaals) and similar other kinds of musical drums are not the duff mentioned in the Ahaadith. Musical drums have been declared Haraam unanimously by all authorities from the very age of the Sahaabah.
(3) Imraan Bin Husain narrates that Rasulullah said:
"In this Ummah will be earthquakes, disfiguration (of faces which will be transformed into apes and pigs) and showers of stone (descending on them from the heaven)." A man from among the Muslimeen said: "O Rasulullah ! When will this be?" Rasulullah said: "When singing girls and musical instruments will become profuse and when liquor will be consumed (in abundance)." (Tirmizi)

(4) Hadhrat Abu Hurairah narrated that Rasulullah said:
"During the last of ages (in close proximity to Qiyaamah) a nation from my Ummah will be disfigured (and transformed) into apes and pigs." The Sahaabah said: "O Rasulullah ! Will they be Muslim?" Rasulullah said: "Yes. They will be testifying that there is no deity but Allah and that I am His Rasool, and they will be fasting (in the month of Ramadhaan)." The Sahaabah asked: "O Rasulullah ! What will be their condition (to warrant such chastisement)?" Rasulullah said: "They will be indulging in musical instruments, singing girls, musical drums, and they will be consuming liquor. They will one night go to sleep after their liquor and amusement. When they arise in the morning, they will have been disfigured (and transformed into apes and pigs)." (Kaf-fur Ruaa’)

It is apparent from this Hadith that the musical drum (the Tablah of the Qawwaals) and similar other kinds of musical drums are not the duff mentioned in the Ahaadith. Musical drums have been declared Haraam unanimously by all authorities from the very age of the Sahaabah.

Wednesday, May 4, 2011

Art of Managing Balance Sheet

Art of Managing Balance Sheet


Art of Managing Balance Sheet
IFRS is considered as one of the greatest innovation in modern accounting, developed by the accountant themselves and also promoted and ranked as best themselves. I am just giving few insights into how companies are using IFRS to show how good they are. How healthy and beautiful they are.



  • Associate Company

This is very important class of assets, it is 20% and above companies are called associate companies, but if company can prove through board presentation or with any other evidence to their auditors even lower stake can be considered as associate companies.
o These associate companies are carried out on balance sheet on book value or acquisition cost/ it is at management’s discretion to decide which method to follow.
§ (Companies are using this gimmick to keep the companies at acquisition cost even though their present value/ market value is lower than acquisition cost.) – This is the area where much due diligence is required while analyzing the balance sheet of the company.



  • · Mark to Market – AFS – Risk discloser


This is second important grey area for playing. When there is nothing to mark against then and even if there is something companies need to convince their auditors there nothing and no risk involved and it can be kept at acquired value/ book value. How nice it is, the bond, the treasury and junk all in one basket nothing to mark.
o The value of non traded securities of all kind is kept at acquisition cost conveniently even if they are junk. Equity, bond’s treasuries and everything are valued at convenience of holder and not at price market is willing to pay.
o What about derivatives swaps and covers companies has bought. They are not mentioned or even if they are mentioned in risk it is non quantified in small letters.
o Few Examples who lost millions in such transactions.
§ Harvard University
§ Gulf Bank
§ Wokhardt Pharmaceutical India
§ Italian Municipality
§ Australian Rail Road
§ (Still today these transactions are not quantified and not mentioned, no one in this world really knows how much each sovereign state has on its books which can take them to bankruptcy, and Greece is only tip of iceberg.)



  • · Work in Progress


Work in another interesting area, when assets are constructed or developed or physically acquired they are work in progress till completed. The stalled projects, completed but yet not sold out and also those which has no hopes of completion are all work in progress carried at a value which best suits the company. Companies are using this term to hide their losses and also putting expenditure as capital expenditure so there is no trace of what really going on in the company.
o Few examples of managing work in progress
§ A project which is stalled for last three years, not completed and there is little or no hope of completion in near future is valued every year upside. The hardware and software which are three years old by this time outdated are still at acquired cost as part of capital work in progress. And also equipment which arrived but cannot be used is all at their acquired price.
§ There are many more such examples, commercial complex ready for possession two years ago not yet occupied is work in progress and the company is not even able to pay interest taken to the project, is capitalizing the interest and work in progress is increasing. Even though the fair value of the project is substantial down.
· Intangible assets, goodwill ,brand value and IP’s ( Intellectual Property )
When companies has problems defining and valuing what can be seen and felt, what do you think they will do with intangible which cannot be seen and felt. There is transaction for the same and cannot be explained, can only be believed. These all class of the assets are always for the benefit of the company; in real life it will never create losses on balance sheet of company. They may have been gone long time ago but legacy of it will not go from the balance sheet.
o Few examples from few balance sheets
§ A company which acquired and agency along with product line, but most of these product are no more sold and legacy cannot be sold any more, the overall sale is in decline still the good will paid is there in the balance sheet.
§ When company is acquired along with customer and product, the acquirer has paid separately for the customer and I never been able to understand, what it is really mean and even though company is no more making profit the paid cost for customer is there as intangible assets.



  • Receivables


Here I am not talking of receivables of banks or the investment companies, here my only discussion is operating companies who sales services and products. The companies in the year end to achieve results dump the product in the market and show the sales and create receivables against it. This is one common practice, but the real problem is when these receivables become old and non collectible and still remains in the balance sheet. There must be provisioning for the old receivables and write off for non collectibles. These policies must be clearly mentioned in the documents and policies.
o Few examples of receivables management
§ When I look at performance of one of big travel company which is ranked among first few, sales is increasing every year at least 20% and so is profit. Management and everyone are very happy to see it. General Manager has got bonuses for this fantastic performance. When I started digging little bit, the loan has increased at least 40% every year. Liquidity is real problem, when I asked for ageing report for the company, I am surprised to see there are receivables which are more than 3 years old, nothing has been collected and there are many clients who never paid for their bills. This all was big enough to wipe out all equity and still company owes banks more than enough. When I wrote this report, no one was happy and I have been divested of the portfolio of the company.
§ In one instance one company is showing substantial receivables from one shop which has been closed long time ago and this receivable no more collectible. This company has many such clients, in real term they are in mess but management do not want to accept they created a mess.



  • Inventory


Inventory should be carried out at lower of acquisition cost, or realizable price at which it can be sold. This is basic principle of inventory. But this is one of the area where lot of input is required, last month a product is selling at 220 KD, the company ordered 1000 pieces and got it. In the mean time the prices are gone down to 185 KD a piece. The company must book a price which it can realized while selling the product. This is wired world. Commodities and products are traded day and night and prices are moving under this circumstances valuation of inventory become very critical. It become more critical when it comes to Food and Pharmaceutical products or any such product which has expiry.
o Few examples of inventory management
§ A pharmaceutical distributor is showing substantial inventory in its books, when we went for due diligence 30% of that is expired and almost 30% is due to expire in next 3 month, and another 20% within six months. This means he has inventory 20% only what he is showing. When we ask him due you have contract for replacement of these expired goods but there is nothing like that. Company says they gets replacement for this, but there is no proof which can show this will be replaced by manufacturer. This shows whole inventory is wrong.

Tuesday, May 3, 2011

Good Manners

Good Manner

A Believer worships Allah by being well mannered and dealing pleasantly with all, so that Allah may love him and make him beloved to his creation. Whoever considers exercising good manners as worship will deal courteously with everyone, be the rich or poor, a manager or a tea boy.
If one day a poor cleaner on the street stretches out his hand for you to shake it, and another day a director of some company stretches his hand out in the same way, will you treat them equally?
Will you welcome them both and smile at them equally?
The Prophet (PBUH) will certainly treat them both equally in terms of welcoming them and showing them sincere conduct and compassion.
Who knows, perhaps the one you may belittle and look down upon might actually be better in Allah’s sight than he who you look up and show honor and respect.

Quran (68:4) “and you(Prophet- PBUH) are certainly on the most exalted standard of moral excellence.”
Here, this sentence gives two meanings: (1) "That you stand exalted to a high and noble character; that is why you are enduring all these hardships in your mission of guiding the people to the Right Way, otherwise a man of weak character could not have done so;" and (2) "that besides the Qur'an, your high and noble character also is a clear proof that the accusation of madness that the disbelievers bring against you is absolutely false, for high morals and madness cannot co-exist in one and the same person. " A madman is he whose balance of mind is upset, who has lost his temperamental equilibrium. Contrary to this, the high morals of a person testify that he is a right-minded and sound-natured person, who possesses perfect temperamental equilibrium. The people of Makkah were not unaware of the morals and character possessed by the Holy Messenger of AIIah. Therefore, it was enough just to make a reference to them so that every reasonable man of Makkah was made to think how shameless were those people who were calling a man of such sublime morals and character a madman. Their absurd conduct was not at all harmful for the Holy Prophet (upon whom be peace) but for themselves, for maddened in their craze for opposition they were saying such a thing about him which could not be regarded as credible by any man of understanding. The same also is the case with those men of knowledge and scholarship, who in the modern time are accusing the Holy prophet (upon whom be peace) of having fits of madness and epilepsy. The Qur'an is available everywhere in the world and the Holy Prophet's life also exists in the written form in entire detail. Every person can see it for himself what a foolish and meaningless thing is being uttered in their blind enmity by those who regard the man who brought this unique and matchless Book and who possessed such sublime morals and character as a mentally deranged person. The best description of the Holy Prophet's character has been given by Hadrat 'A'ishah in her statement: Kana khuluqu-hul-Qur an: the Qur'an was his character." Imam Ahmad, Muslim, Abu Da'ud. Nasa'i, Ibn Majah, Darimi and Ibn Jarir have cited, with a little variation in wording, this saying with several chains of transmitters. This means that the Holy Prophet had not merely presented the teaching of the Qur'an before the world but also given its practical demonstration by his personal example. Whatever was enjoined in the Qur'an was acted upon practically by himself in the first instance; whatever was forbidden in it was shunned and avoided by himself most of all. His own self was characterized most of all by the moral qualities which were declared as sublime by it, and his own self was most free from those qualities which were declared as abhorrent and reprehensible by it. In another tradition Hadrat 'A'ishah has stated: "The Holy Prophet (upon whom be peace) never hit a servant, never raised his hand on a woman never used his hand to kill a person outside the battlefield, never avenged himself on anyone for an injury caused unless someone violated a sanctity enjoined by AIlah and he avenged it for the sake of Allah. His practice was that whenever he had to choose between two things, he would choose the easier one unless it was a sin; and if it was a sin he would keep away from it most of all" (Musnad Ahmad). Hadrat Anas says: "I served the Holy Prophet (upon whom be peace) for ten years. He never did so much as express even a slight disgust over what I did or said: he never asked why I had done what I had done, and never inquired why I had not done what I had not done." (Bukhari, Muslim).

Quran (3:159) It was thanks to Allah's mercy that you were gentle to them. Had you been rough, hard-hearted, they would surely have scattered away from you. So pardon them, and pray for their forgiveness, and take counsel from them in matters of importance. And when you are resolved on a course of action places your trust in Allah; surely Allah loves those who put their trust (in Him).
(21:107) (O Muhammad!) We have sent you to be a real blessing for the people of the world.
This verse (107) can also be translated as: "We have sent you only as a blessing for the people of the world". In both cases it will mean that the appointment of the Holy Prophet is indeed a blessing and mercy of Allah to the whole world. This is because he aroused the neglectful world froth its heedlessness and gave it the knowledge of the criterion between truth and falsehood, and warned it very clearly of both the ways of salvation and. ruin. This fact has been stated here 'to tell the disbelievers of Makkah that they were quite wrong in their estimate of the Holy Prophet that he was an affliction and distress for them because they said, "This man has sown seeds of discard among our clans and separated near relatives from each other." They have been told here, "O foolish people, you are wrong to presume that he is an affliction for you; but he is in reality a blessing and mercy of Allah for you."

"Shall I not tell you who among you is the most beloved to me and will be closest to me on the Day of Resurrection?" He repeated it two or three times, and they said, 'Yes, O Messenger of Allah (p.b.u.h.).’ He said: "Those of you who are the best in attitude and character." (Reported by Ahmad and its Isnad is Jayyid) Some reports add: "Those who are down to earth and humble, who get along with others and with whom others feel comfortable."
One of the attributes of the believer is that he gets along with others and others feel comfortable with him. He likes people and they like him. If he is not like this, then he will not be able to convey the message or achieve anything of significance. Whoever is like that has no goodness in him, as in the Hadith:
"The believer gets along with people and they feel comfortable with him. There is no goodness in the one who does not get along with people and with whom they do not feel comfortable.” (Reported by Ahmad and al-Bazar; the men of Ahmad's Isnad are Rijal as-Sahih)
The Prophet (p.b.u.h.) set the highest example of good behaviour towards people. He was skilful in softening their hearts and called them to follow him in word and deed. He demonstrated how to reach people's hearts and win their love and admiration.
He was always cheerful and easy-going, never harsh. When he came to any gathering, he would sit wherever there was a free space, and he told others to do likewise. He treated everyone equally, so that no one who was present in a gathering would feel that anyone else was receiving preferential treatment. If anyone came to him and asked for something, he would give it to them, or at least respond with kind words. His good attitude extended to everyone and he was like a father to them. The people gathered around him were truly equal, distinguished only by their level of taqwa. They were humble, respecting their elders, showing compassion to young ones, giving priority to those in need and taking care of strangers.
Hadith - Bukhari's Book of Manners #271, Abu Dawud, Tirmidhi, Ahmad, and Ibn Hibban.
...Abu Darda' reported that the Prophet of Allah, upon him be peace, said, "Nothing is weightier on the Scale of Deeds than one's good manners."
Hadith - Bukhari's Book of Manners #286 and Ahmad
Abu Huraira, r.a., said, "I heard Abu al Qasim (the Prophet saaws), say, 'The best among you in Islam are those with the best manners, so long as they develop a sense of understanding.' "
Hadith - At-Tabaraanee collected it, and Albani authenticated it in Silsilatul-AHaadeethis-Saheehah (#432).
The Prophet (saaws) said: "The most beloved of Allah's servants to Allah are those with the best manners."
Hadith - Bukhari's Book of Manners # 285, Hakim, and Abu Dawud
... Abu Huraira, r.a., said that the Prophet of Allah, saaws, said, "If one has good manners, one may attain the same level of merit as those who spend their nights in prayer."
Hadith - Bukhari's Book of Manners # 290, Tirmidhi, Ibn Majah, and Ahmad
... Abu Hurairah reported that the Prophet of Allah (saaws) said, "And what is most likely to send people to Paradise? Being conscious of Allah and good manners."