Business Finance
MGT 672 MU Financial MGT Sharia Banking and Western Banking Case Study

MGT 672

Marshall University

MGT

Question Description

I’m studying and need help with a Business question to help me learn.

Compare and contrast Sharia banking and Saudi financial management practices with Western banking and financial management practices. What difficulties might a Saudi company encounter as it does business in countries that do not follow Sharia banking and financial management practices?

4-5 pages

APA

5 references

Please consider the rubric (Attached file)

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MGT672 Critical Thinking Writing Rubric – Module 4 Exceeds Expectation Content, Research, and Analysis 21-25 Points Requirements Exceeds Expectation Includes all of the required components, as specified in the assignment. 21-25 Points Content Exceeds Expectation Demonstrates substantial and extensive knowledge of the materials, with no errors or major omissions. 25-30 Points Analysis Exceeds Expectation Provides strong thought, insight, and analysis of the Business Problem Solving model, concepts and applications. 13-15 Points Sources Exceeds Expectation Sources go above and beyond required criteria, and are well chosen to provide effective substance and perspectives on the issue under examination. Meets Expectation Below Expectation Limited Evidence 16-20 Points Meets Expectation - Includes most of the required components, as specified in the assignment. 11-15 Points Below Expectation - Includes some of the required components, as specified in the assignment. 6-10 Points Limited Evidence Includes few of the required components, as specified in the assignment. 16-20 Points Meets Expectation - Demonstrates adequate knowledge of the materials; may include some minor errors or omissions. 11-15 Points Below Expectation - Demonstrates fair knowledge of the materials and/or includes some major errors or omissions. 6-10 Points Limited Evidence Fails to demonstrate knowledge of the materials and/or includes many major errors or omissions. 19-24 Points Meets Expectation - Provides adequate thought, insight, and analysis of the Business Problem Solving model, concepts and applications. 10-12 Points Meets Expectation - Sources meet required criteria and are adequately chosen to provide substance and perspectives on the issue under examination. 13-18 Points Below Expectation - Provides poor thought, insight, and analysis of the Business Problem Solving model, concepts and applications. 7-12 Points Limited Evidence Provides little or no thought, insight, and analysis of the Business Problem Solving model, concepts and applications. 7-9 Points Below Expectation - Sources meet required criteria, but are poorly chosen to provide substance and perspectives on the issue under examination. 4-6 Points Limited Evidence Source selection and integration of knowledge from the course is clearly deficient. MGT672 Critical Thinking Writing Rubric – Module 4 Mechanics and Writing Demonstrates college-level proficiency in organization, grammar and style. 5 Points Exceeds Expectation Project is clearly organized, well written, and in proper format as outlined in the assignment. Strong sentence and paragraph structure; contains no errors in grammar, spelling, APA style, or APA citations and references. Total points possible = 100 4 Points Meets Expectation - Project is fairly well organized and written, and is in proper format as outlined in the assignment. Reasonably good sentence and paragraph structure; may include a few minor errors in grammar, spelling, APA style, or APA citations and references. 3 Points Below Expectation - Project is poorly organized and written, and may not follow proper format as outlined in the assignment. Inconsistent to inadequate sentence and paragraph development, and/or includes numerous or major errors in grammar, spelling, APA style, or APA citations and references. 1-2 Points Limited Evidence Project is not organized or well written, and is not in proper format as outlined in the assignment. Poor quality work; unacceptable in terms of grammar, spelling, APA style, and APA citations and references. ...
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Final Answer

Attached.

Running head: FINANCIAL MANAGEMENT

Financial Management: Sharia Banking and Western Banking
Institution Affiliation
Date

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FINANCIAL MANAGEMENT

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Introduction

A bank is known commonly as a financial institution that is licensed as a receiver of
deposits and also mandated to provide other critical financial services, for instance, wealth
management and coordination. There are set regulations mostly from the government and other
financial regulatory bodies to ensure and maintain transparency of the institution’s transactions.
In most regions of the world, there are standard regulations that govern the operations of the
banking industry. However, due to some regional factors such as religion, governmental
administration, regulations, among others, these regulations and practices may differ.
In the banking sector, the practices may be set to go inline with some influential
parameters of these factors. A good example is an Islamic region or the countries following the
Muslim culture such as Saudi Arabia. Their banking practices are set based on Sharia banking
principles, according to Sharia law requirements(Visser, 2019). Other regions follow what is
known to many as conventional or western banking and financial management practices and
ethics, especially in the United States. In this article, we are going to consider the comparison
and contrast of Sharia banking and Saudi financial management with western banking and
financial management.
Sharia Financial Management and Western Financial Management
Islamic financial management, also referred to as Sharia-compliant finance as influenced
Islamic banking through the principles set by Sharia or Islamic law. In this understanding, Sharia
banking is characterized by one common principle, and also, the practice is commonly known as
non-interest banking. This aspect is derived from Islamic law whereby a Muslim is not permitted
to profit from loaning out money or receiving from a person or client by charging interest on the

FINANCIAL MANAGEMENT

3

amount. I...

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