bankruptcy?The state a business or individualis in when it, he or she cannot pay its creditors. It is a legal status whichcan be imposed from outside (involuntary bankruptcy) or entered into as a lastresort by the debtor (voluntary bankruptcy). Where appropriate, the businesswill fold and have its assets sold off and/or redistributed among itscreditors. There are limits to what can and cannot be taken; for example,essentials for living (a bed, furniture, kitchen appliances and so on) mightnot be recoverable for an individual, and items essential for the continuationof 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 tribewhich was dominant in Meccaaround the time of the ProphetMuhammad (andindeed it still exists), and the Banu Hashim was a major clan within theQuraish.
Muhammad was a member of this clan. His great-grandfather was the veryHashim after whom the clan was named.baqar?Cows,cattle; specifically the wild ox.baraka?Literally, ablessing. B?rak All?hu MayAllah bless you; response to expression of thanks.
Barzakh Barrier.Used in the Qur’an to describe the barrier between sweet and salty water. Intheology, the one-way barrier between the mortal realm and the spirit worldwhich the deceased soul crosses and waits for qiyamah judgment.
Basel II? The commonname given to the second of the Basel Accords, whose full title is ‘TheInternational Convergence of Capital Measurement and Capital Standards – ARevised Framework’, initially published in 2004. The accords were producedafter deliberation by central banking and regulatoryrepresentatives from ‘The Groupof Ten’ plus Luxembourg and Spain, in Basel, Switzerland, underthe auspices of the BaselCommittee on Banking Supervision (BCBS). The main subject of thedeliberations was riskmanagement, with the attempt to standardise the amount of capital central banks must put aside toprotect against unexpected financial shocks and thereby protect theinternational financial system and prevent the collapse of individual banks.Basel III?A comprehensive set of reformmeasures designed to improve the regulation, supervision and risk managementwithin the banking sector.
The Basel Committee on BankingSupervision published the first version of Basel III in late 2009,giving banks approximately three years to satisfy all requirements. Largely inresponse to the credit crisis, banks are required to maintain proper leverage ratios andmeet certain capital requirements. Basel III is part of the continuous effortmade by the Basel Committee on Banking Supervision to enhance the bankingregulatory framework. It builds on the Basel I and Basel II documents, andseeks to improve the banking sector’s ability to deal with financial andeconomic stress, improve risk managementand strengthen the banks’ transparency.