bankruptcy?The state a business or individual
is in when it, he or she cannot pay its creditors. It is a legal status which
can be imposed from outside (involuntary bankruptcy) or entered into as a last
resort by the debtor (voluntary bankruptcy). Where appropriate, the business
will fold and have its assets sold off and/or redistributed among its
creditors. There are limits to what can and cannot be taken; for example,
essentials for living (a bed, furniture, kitchen appliances and so on) might
not be recoverable for an individual, and items essential for the continuation
of work (tools, computers, telephones and so on) might be protected for businesses;
however, such allowances vary between jurisdictions.
Banoo Hashim?(alt. sp. of Banu Hashim) The children of Hashim.
Banu Hashim, Banoo Hashim??The children of Hashim. The Quraish was the tribe
which was dominant in Mecca
around the time of the Prophet
indeed it still exists), and the Banu Hashim was a major clan within the
Quraish. Muhammad was a member of this clan. His great-grandfather was the very
Hashim after whom the clan was named.
cattle; specifically the wild ox.
B?rak All?hu May
Allah bless you; response to expression of thanks.
Used in the Qur’an to describe the barrier between sweet and salty water. In
theology, the one-way barrier between the mortal realm and the spirit world
which the deceased soul crosses and waits for qiyamah judgment.
Basel II? The common
name given to the second of the Basel Accords, whose full title is ‘The
International Convergence of Capital Measurement and Capital Standards – A
Revised Framework’, initially published in 2004. The accords were produced
after deliberation by central banking and regulatory
representatives from ‘The Group
of Ten’ plus Luxembourg and Spain, in Basel, Switzerland, under
the auspices of the Basel
Committee on Banking Supervision (BCBS). The main subject of the
deliberations was risk
management, with the attempt to standardise the amount of capital central banks must put aside to
protect against unexpected financial shocks and thereby protect the
international financial system and prevent the collapse of individual banks.
Basel III?A comprehensive set of reform
measures designed to improve the regulation, supervision and risk management
within the banking sector. The Basel Committee on Banking
Supervision published the first version of Basel III in late 2009,
giving banks approximately three years to satisfy all requirements. Largely in
response to the credit crisis, banks are required to maintain proper leverage ratios and
meet certain capital requirements. Basel III is part of the continuous effort
made by the Basel Committee on Banking Supervision to enhance the banking
regulatory framework. It builds on the Basel I and Basel II documents, and
seeks to improve the banking sector’s ability to deal with financial and
economic stress, improve risk management
and strengthen the banks’ transparency.