A new business setup in DUBAI
In a group of no more than four (4), produce a report screening the business environment of a foreign country which you plan to export to or invest in. The report is expected to cover those major aspects of the business environment of the chosen country that are relevant to the planned international business (e.g., direct exporting, or investing). In general, the following aspects should be included in your report: • Cultures of the country and their implications for business • Political and economic systems of the country and how they may affect your intended business • Nature of business systems in the chosen country, focusing on business organisation, leadership, human resource management and change management principles, and how each may affect your business operations • Differences in finance and banking systems between that country and home country and how these may affect your business and what countermeasures you may need • Any difference in legal systems between that country and home country and how these may affect your business and what countermeasures you may need • Important ethical matters of that chosen country and how they may affect your business operations. Each group will choose a business and a country with justifications to work on and produce a report of real relevance to the business. Please Note that the its a restaurant is in INDIA and planning to launch in DUBAI which has very different ways of business establishment compared to the home country . Make a description in the report about the financial stratergy of DUBAI . I am enclosing some reports about ISLAMIC banking conditionsIslamic Banking is growing at a rapid speed and has showed unprecedented growth and expansion in last two decades in spite of mismatching of existing financial framework and business practices. By the end of 2008 volume of Islamic banking has reached to US $ 951 Billion with operation in more than 50 countries. Middle East is the centre of Islamic banking with contribution of approximately 80% while 20% share is contributed by rest of the world. In Pakistan Islamic banking is at infant stage although last 6 years growth is marvelous. Islamic banking has grown at an average annual rate of 76% in the last six and half years (12/03 – 06/10) in Pakistan. Although Islamic banking faces multi challenges however three of them are very vital for its existence. First is Sharia compliance in its operations in an environment which is dominated by interest based practices even in Muslim societies. Second is perception of financial industry practitioners about its performance whether the system is able to serve the total needs of trade and industry. Third is the perception of a large majority of Muslims whether existing practice of Islamic banking is Sharia compliant or mere copy of conventional practices under the banner of Sharia.This study is an attempt to address the perceptional issues by identifying the similarities and differences in Islamic and conventional banking. Evidences suggest Islamic banking is very much practiced like modern conventional banking with certain restrictions imposed by Sharia and addresses the large number of business requirements successfully hence perceiving Islamic banking as totally foreign to business world is not correct. It is further found in the study that Islamic banking is not a mere copy of conventional practices rather major differences exist in the operations of Islamic Financial Institutions (IFIs) in comparison with conventional banking. IFIs have succeeded in creating trust in the eyes of depositors and receive deposits on profit and loss sharing basis however investment and financing options available to Islamic banks are limited in comparison of conventional banks.