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STS Business Blog



Week 1

Finance in Business

By the end of this week you should be able to: Give a definition of finance Explain the types of finance available for

running a business Discuss the characteristics of Islamic finance and banking.

Finance in Business

What is Finance?

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=j3c4rkaOtTZFYM&tbnid=pE4xObVMDIktsM:&ved=0CAUQjRw&url=http://www.dreamstime.com/stock-photography-uae-money-image11129752&ei=9PeNUY6jGoXVrQeruYCYDA&bvm=bv.46340616,d.bmk&psig=AFQjCNEtclmFVUS5MyjKgKdojOl_pp2yrw&ust=1368344884240932

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=2re64OIo-rZ5yM&tbnid=J2D9vGq98llDOM:&ved=0CAUQjRw&url=http://sme.ameinfo.com/fact-finder/financing-business-startup-crowdfunding-UAE-172&ei=KviNUeDuFci5rgemzIC4BA&bvm=bv.46340616,d.bmk&psig=AFQjCNEtclmFVUS5MyjKgKdojOl_pp2yrw&ust=1368344884240932

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=ooRPvd55VklkCM&tbnid=VZThmS_Q2v5AIM:&ved=0CAUQjRw&url=http://www.thenational.ae/lifestyle/personal-finance/lenders-bolster-financing-access-for-uae-small-businesses&ei=1_eNUZnJFoHyrQea4YHIAw&bvm=bv.46340616,d.bmk&psig=AFQjCNEtclmFVUS5MyjKgKdojOl_pp2yrw&ust=1368344884240932

Why do Businesses need Finance?

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=y33h_Ae_v0qTdM&tbnid=O6Bl_IWG6J0yRM:&ved=0CAUQjRw&url=http://www.dzooom.com/company/services/5991/golden-car-rent-a-car&ei=dPGNUa-nHYXxrQfc8oDgAg&psig=AFQjCNF5Xu6vDr4qYXsEWgrkTfPE5JDUSQ&ust=1368343042159931

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=496drTXUOVlz_M&tbnid=byXCY4pgrAeKIM:&ved=0CAUQjRw&url=http://www.merchantfinanceconnection.com/&ei=8fGNUcHVIsaMrQeZu4GICA&psig=AFQjCNE-4jJ9FENOnDEjuhud3Yh0AmnI3A&ust=1368343338435834

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=A9w0qs2eSIqzYM&tbnid=N5XqOU6Ru04pcM:&ved=0CAUQjRw&url=http://www.setragroup.com/en-gb/about_setra/For_Forest_owners/Raw_Material_Policy/&ei=X_KNUYCSOcWzrAfcjYCICA&psig=AFQjCNG9_fXZW-XzjeMrI74aFbIs-E1Y-w&ust=1368343476429378

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=EudrYnwWmnWe5M&tbnid=y7V73-sBmrHA2M:&ved=0CAUQjRw&url=http://www.propertyportal.ae/content/why-use-us-to-rent-dubai.html&ei=ifONUa3JK9HJrAeXzIHoBw&psig=AFQjCNFcL0NZsjySnrND_SzazhUqzrgR_g&ust=1368343792757051

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=jFixNXq4TKsKfM&tbnid=crVs0WWkZfcfNM:&ved=0CAUQjRw&url=http://www.toprankblog.com/2010/12/social-media-advertising-twitter/&ei=OfSNUcDYBsyWrgep84GoBQ&psig=AFQjCNHT5TgZgpkvL3iR_w8NggZ1DUqC7w&ust=1368343930723887

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=Ddy8Fu445265nM&tbnid=cI7JlKxQ5PnwsM:&ved=0CAUQjRw&url=http://pilgrimfeasttabernacles.org/staff.html&ei=cvSNUfzUMYaPrgewjIDoCg&psig=AFQjCNECTry-Pk-7dLQ_FkAFCGy0WI4IOg&ust=1368344034035948

Savings Money received from family and friends Loans from a bank Government loans and grants Revenues from the disposal of business assets Profits from the business

Sources of Finance

Banking

Based on the principles of Islamic law (Sharia).

Sharia prohibits interest or fees (known as Riba or Usury) for loans of money.

Lending to businesses that provide goods or services considered contrary to Islamic principles is also Haraam (forbidden).

Islamic banking and finance is now one of the world's fastest-growing economic sectors.

Islamic banking

http://en.wikipedia.org/wiki/Haraam

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=axdYButBdZ2szM&tbnid=MZsKFHN1sWL4mM:&ved=0CAUQjRw&url=http://www.barmun.org/committees/modern/hsbc/&ei=pAuOUdHKKczwrQeyvIGgDw&bvm=bv.46340616,d.bmk&psig=AFQjCNGHP3ridNNEcd_m2q922R3E5_gHuw&ust=1368349982998837

By now you should be able to: Give a definition of finance Explain the types of finance for running a

business Discuss the characteristics of Islamic finance

and banking.

Finance in Business

Documents

STS Business Blog