Analytical Study on Bill Discounting with Reference to Shār’Iah

With the growing economic industry, the importance of bill discounting is not obscured any more. It is undoubtedly one of the most important tools of trade financing. Now it has become very easy for importers and exporters to sale any product to a complete stranger anywhere in the world and get the bill against it discounted before its maturity date. That is why this tool is in the practice of all conventional banks. But regarding to shār’iah rulings its prevailed practice in conventional banks is not shār’iah compliance as this transaction consists of debt sale and interest. But due to it’s vitally need, Jurists of Islamic shār’iah have stepped forward with its different alternatives based on Můrabaha, Wākalāh, Můshāārkāh and Bāy’ Sālām in currency. In this article we have covered the causes behind the shār’iah rulings of prevailed bill discounting in conventional banks and addressed the Bāy’ Sālām as an alternative in currencies and its executive model in Islamic banks. Furthermore I have discussed the different opinions of modern scholars regarding these issues.

Sustenance through Architecture: Christian monastery as a portrayal for tolerance and perseverance

Christian monasteries became the religious and public buildings in Christianity and have flourished and given birth to many architectural features and work scales. In, Pakistan has had a large population of Christians during its origin but it has declined substantially due to many persecutions and migration. Although, there is resentment between the religions in Pakistan, there are examples of religious tolerance and of positivity reflected in unity and brotherhood. The project aims for the architectural typology of a monastery reflecting the ideas of religious tolerance and expanding the Church architecture that has recently come to a halt in the country. It further reflects to sustain the ecology of the site it caters to be constructed within. The ideas of sustenance in ecology and religion come together in the form of a new architectural style, i.e. Pantheclectism that aims to establish an architecture of the current and changing future scenario and at the same time demarcating an ecologically endangered site. This eventually plays its part defined within this typology to curate itself in the form of different architectural typologies that make up a monastery and in a way are also exclusive to the monastery.