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STS Business Blog

STS Business Blog. https://sites.google.com/site/businessstudiesatstsalain/. Finance in Business. 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

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STS Business Blog

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  1. STS Business Blog https://sites.google.com/site/businessstudiesatstsalain/

  2. Finance in Business Week 1

  3. 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.

  4. What is Finance?

  5. Why do Businesses need Finance?

  6. Sources of Finance 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

  7. Banking

  8. Islamic 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.

  9. Finance in Business 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.

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