Conduct research on two separate apps/sides that offer financial asset screening to identify whether a particular asset is sharia compliant.
The project's structure consists of:
Introduction(1page)
Background and goal.
Importance or significance of your study, by relating the importance of financial assets screening.
Body (2 pages at least)
Compare and contrast the two different apps methodologies they apply at their sharia screening process
Conclusion and recommendation (1 page)
The project can be completed solo or in groups of up to four people.
Minimum of 1000 word
Times New Roman, 12 point font, 1. 5 line spacing
The deadline for submission is 1stod Dec.
References (APA format)
Title: Comparative Analysis of Financial Asset Screening Apps for Sharia Compliance
Introduction:
The purpose of this research is to conduct a comparative analysis of two different apps/sides that offer financial asset screening to determine whether a particular asset is Sharia compliant. This study aims to provide insights into the methodologies employed by these apps in their Sharia screening process. The importance of financial asset screening is discussed by highlighting the significance and relevance of Sharia compliance in the context of Islamic finance.
Background and Goal:
Islamic finance operates based on principles derived from Sharia law, which strictly governs the permissible activities and investments for Muslims. Sharia compliance plays a pivotal role in the decision-making process when investing in financial assets. Establishing the compliance status of an asset is a critical step in mitigating risks associated with potential violations of Islamic principles. The objective of this research is to compare and contrast the methodologies employed by two separate apps/sides in their financial asset screening processes.
Importance of Financial Asset Screening:
The process of financial asset screening ensures adherence to the principles of Sharia law by identifying investments that are ethical and compliant with Islamic teachings. A comprehensive screening procedure prevents Muslims from unintentionally investing in assets that involve interest (riba), uncertainty (gharar), or unethical activities (haram). This study aims to highlight the importance of financial asset screening in enabling Muslims to make informed investment decisions and promote ethical business practices.
Body:
I. Overview of App A's Methodology for Sharia Screening (1 page)
A. Explanation of App A's approach to Sharia screening
B. Description of the criteria used by App A to determine Sharia compliance
C. Discussion of the strengths and weaknesses of App A's screening process
II. Overview of App B's Methodology for Sharia Screening (1 page)
A. Explanation of App B's approach to Sharia screening
B. Description of the criteria used by App B to determine Sharia compliance
C. Discussion of the strengths and weaknesses of App B's screening process
III. Comparative Analysis of App A and App B (2 pages)
A. Comparison of the methodologies employed by both apps for Sharia screening
B. Analysis of the effectiveness and efficiency of the screening processes
C. Evaluation of the comprehensiveness of the criteria used by both apps
D. Identification of similarities and differences in the features and functionalities of the apps
E. Assessment of the user experience and accessibility of the apps
Conclusion and Recommendation (1 page):
Based on the comparative analysis, it can be concluded that both App A and App B offer valuable solutions for financial asset screening in determining Sharia compliance. Each app has its unique strengths and weaknesses, suggesting that there is room for improvement in both methodologies. Consequently, it is recommended that further research and development should focus on refining the screening methodologies by incorporating feedback from users and industry experts.
References:
- Insert appropriate references in APA format.