17 Success Principles - The Common Traits of Successful People

Malaysia - gateway to Islamic finance

KUALA LUMPUR - Over the past decade or so, Malaysia has quietly become the leading international player in Islamic finance and its gateway. The government of Malaysia, through its two principal agencies, Bank Negara (the central bank) and the Security Commission, has actively promoted Islamic finance. More specifically, Islamic finance has been given formal prominence in the Financial Sector Master Plan (FSMP) and the Capital Market Master Plan (CMP), which were initiated in Malaysia in 2001. 

Malaysia's achievements have been quite remarkable in developing market institutions and Islamic financial products, in boosting capital flows, and in establishing the country's dominant position in the world of Islamic finance; it has become the leading player in the global sukuk (Islamic bond) market and in developing innovative products in money markets, derivatives, and in liquidity management. 

The recent gathering of the Global Islamic Finance Forum 2010 (GIFF) in Kuala Lumpur under the auspices of Bank Negara is a further confirmation of Malaysia's continuing commitment to embracing and advancing Islamic finance. 

The emergence of Malaysia at the top of the international Islamic finance pyramid is by no means accidental. The country has one of the most advanced financial systems among emerging market economies. Its financial system has been liberalized and integrated into the global capital markets. Its advanced financial infrastructure, relative to all other Muslim countries, was supportive of Islamic financial innovation and development and establishing Malaysia as the dominant country in Islamic finance. 

Malaysia is an emerging market economy that has achieved sustained economic growth over a number of years and reached a high level of development. Its strong economic performance has been founded on efficient and relatively democratic institutions. Strong institutions, modern infrastructure, growing human capital and financial development, have all contributed to its emergence as the present force Islamic finance. 

In fact, two recent studies on the "Islamicity" of countries ranked Malaysia at the top of all 56 Muslim countries in the world. 

What is Islamic finance? What are its main foundations that make it supportive of financial stability, economic prosperity and social justice? 

Islamic finance draws its scaffolding from divine rules (the Quran and the life of the Prophet Mohammad) that embrace risk-sharing (profit and loss sharing) and ban risk shifting (debt that embodies interest), prohibit interest (riba), gambling, speculation, and any unjust appropriation of wealth, and make zakat (alms) a mandatory obligation for preserving an equitable distribution of income and social justice. Although debt is not forbidden, it has to be interest free, and hence debt plays a negligible role in Islamic finance. 

In its pure form, Islamic financial finance can be defined as a two-tier financial system, restricting commercial bank activities to (i) cash safekeeping, and (ii) investing client money as in a mutual fund. Banks accept deposits for safekeeping only (as for example in a system with 100% reserve requirement) and charge a fee for providing this service and for check-writing privileges. 

In their intermediation capacity, banks identify and analyze investment opportunities and offer them to clients; the bank charges a fee for this service, much as with a traditional investment bank. The bank does not assume any asset-liability risk on its balance sheet; instead, gains or losses accrue directly to client investors. 

However, the bank can at the same time invest its own equity capital in these and in other investment projects, as can its client investors. In such cases, the bank does not assume any asset-liability exposure, just a potential loss of some (not all or its multiple) of its capital, which does not endanger the bank's solvency. 

In other words, in this example of a financial system, there is no debt financing by institutions, only equity financing; and there is no risk shifting, only risk sharing. Banks do not create money as under a fractional reserve system. Financial institutions serve their traditional role as intermediaries between savers and investors but with no debt on their balance sheets, no leveraging and no predetermined interest rate payments as an obligation. 

Because of the structure of Islamic finance outlined above, it has received increasing attention in the aftermath of the global financial crisis that broke out in August 2007. It is considered as a more stable financial system, capable of promoting sustained growth of income and employment. Prohibiting interest and interest-debt contracts, Islamic finance eliminates money creation and destruction by the banking system through the credit multiplier; it establishes one-to-one mapping of financial and real sectors of the economy. That is, it is based on real trade and production activities. 

The financial sector cannot expand beyond the real economy, and is immune to un-backed credit expansion and speculation that are characteristics of conventional finance and have destabilized even the most sophisticated and complex financial systems. 

Islamic finance operates with one rate of return, which is the rate of profit. Conventional finance operates with two rates of return - the rate of interest and the rate of profit. The distortion between these two rates and the destabilizing effect on credit and prices were extensively analyzed by Thornton (1802) and Wicksell (1898). Its modern form is known as the "equity premium", namely the return on equities exceeds the rate of interest by about 6%-12%, depending on markets and time-periods. 

Proposals along these lines are not new. Financial systems in some such form or other have been practiced throughout recorded history. Recently, such an approach was recommended in the "Chicago Plan". This reform plan was formulated in a memorandum written in 1933 by a group of renowned Chicago professors, including Henry Simons, Frank Knight, Aaron Director, Garfield Cox, Lloyd Mints, Henry Schultz, Paul Douglas and A G Hart, and was forcefully advocated and supported by the noted Yale University professor Irving Fisher. 

Fisher wrote: "I have come to believe that that plan is incomparably the best proposal ever offered for speedily and permanently solving the problem of depressions; for it would remove the chief cause of both booms and depressions." 

More recent than the Chicago Plan, James Henry and Laurence Kotlikoff have made a proposal along similar lines, coining it as Limited Purpose Banking (LPB); writing in Forbes (2010), they said:

Were we really serious about fixing our financial system, there's a very simple alternative - Limited Purpose Banking. LPB would transform all financial intermediaries with limited liability into mutual fund companies. Under LPB a single regulatory agency - the "Federal Financial Authority" - would organize the independent rating, verification, custody and full disclosure of all securities held by the mutual funds. Voila, by dint of competition and transparency, "liar loans", off-balance sheet gimmickry, and toxic assets would all disappear. LPB would let the financial sector do only what Main Street needs it to do - connect lenders to borrowers and savers to investors. The financial sector's job is not to take taxpayers to the casino and collect the winnings.

Recurrent financial crises in recent and distant pasts have established the fact that conventional finance needs support or is doomed to significant instability and potential collapse. Conventional banking needs a central bank as lender of last resort, deposit insurance and bailouts from government. 

Conventional finance can be socially unjust; it creates money out of thin air, called "counterfeiting" by Maurice Allais, and enables borrowers to acquire free wealth. It is inflationary and it extols an inflation tax. The US Fed has as one of its two main objectives price stability; yet the US dollar in 2010 has less than 5% of its real purchasing power of 1920. 

Experiences of hyperinflation in Germany and Latin America demonstrate how economies have been ruined by inflation. During the 19th and 20th centuries, conventional finance caused increasing social inequities, resulting in the emergence of powerful labor unions to defend real incomes against the rapid erosion caused by inflation that is rooted in fiat-based conventional finance. Over the last 40 years, some of the growing disparity in income and wealth in the United States is attributable to finance. 

Conventional finance has been accompanied by high uncertainty, exchange rates instability, competitive devaluations and beggar-thy neighbor policies that are detrimental to foreign trade. John Maynard Keynes (1936) likened asset and commodity markets to a casino. In 2010, the price of gold hit $1,284/ounce; it was $35/ounce in 1971. The price of oil hit $147/barrel in 2008; it was $2/barrel in 1971. 

Reserve currency countries have been trying to resolve the current financial crisis using the same policies that led to the crisis in the first place; namely, forcing interest rates to near-zero, printing money out of thin-air to inflate their way out of the crisis, forcing more debt, and increasing fiscal deficits. 

Islamic finance is essentially immune to financial crises, inflation, and factor price distortions. There is no wealth redistribution via debt and inflation. Investment is based solely on equity financing. Zakat (alms) is mandatory and helps to eliminate the need for borrowing by the poor. 

Islamic finance does not orient resources to consumption, as one cannot finance consumption by resorting to debt, and instead it orients them to investment and accelerates the process of capital accumulation. Demand and supply grow in harmony; namely, demand cannot be inflated through debt creation. There is no credit expansion that triggers asset bubbles. The economic growth path is sustainable, steady, and does not gyrate as in conventional finance. Full-employment is preserved. 

The only possible shortcoming of Islamic finance is the unproven contention that conventional finance is more supportive of economic growth. This, however, is an empirical point that must be assessed over a long period, assessing growth over cycles of booms and busts. 

Because of the attractive features of Islamic finance, Malaysia has positioned itself as an Islamic investment gateway to the world, with a niche in Islamic fund and wealth management. The comprehensive Islamic financial system developed by Malaysia operates in parallel with the conventional financial system and includes banking and takaful (Islamic insurance) components, and Islamic money and capital markets. 

Following the development of a robust and vibrant domestic market, there are now initiatives under way to raise the international profile of the Malaysian Islamic financial system. These include a wide range of liberalization measures that include attracting foreign entities in the field of Islamic finance to Malaysia system by issuing new licenses - including to Islamic fund management companies - and allowing for greater percentage of foreign ownership in Malaysian domestic financial institutions. 

Liberalization has also involved the potential for greater foreign participation in Malaysia's conventional domestic financial markets. 

Islamic banking has also spurred efforts by non-bank financial intermediaries, such as the development financial institutions, savings institutions, and housing credit institutions, to introduce Islamic schemes and instruments to meet their customer demands. In addition, the capital market has seen the rapid growth of sukuks and equity markets. 

To complement these developments, the Labuan Offshore Financial Center has embarked on a serious effort to establish an International Islamic Financial Market to stimulate the creation of liquidity and financial instruments as well as to enhance investment opportunities aimed at greater mobilization of Islamic funds. 

The number of Shariah-compliant securities on Bursa Malaysia was 847 in May 2010, representing 88% of the total listed securities and 63.8% of the total market capitalization. The FTSE Hijrah Shariah index and the FTSE Bursa Malaysia EMAS Shariah index provide a broad benchmark for Shariah-compliant investments. These indices are designed for investors who wish to invest in Shariah-compliant stocks. 

Islamic funds include unit trust funds (UTF), which are Islamic equity funds, and mutual funds (sukuks and other Sharia-compliant securities), real estate investment trusts (REITs), venture capital funds, and exchange traded funds (ETFs). 

As of June 2010, there were 156 approved Islamic funds. Sukuks are structured securities and most financing deals have been structured along the concepts of Murabahah (where the seller informs the buyer of a commodity the cost that has been incurred on the commodity and adds that as a known mark-up in the sale); Ijarah (lease or rent) and Bai' Bithaman Ajil (sale of goods on a deferred payment basis). 

To sustain the tax competitiveness of Malaysia's Islamic capital market, the government has extended tax deductions on sukuk issuance expenses. It has also established a financial guarantee institution to provide credit enhancements for sukuks, which would increase the creditworthiness of these and reduce the time required to place new issues. 

Malaysia's position as a center of innovation was reinforced with the launching of the world's first Shariah-based commodity trading platform, Bursa Suq Al-Sila, in 2009. This was a collaborative effort of the Security Commission, Bank Negara Malaysia, and Bursa Malaysia and was supported by the Malaysian Palm Oil Board, the Malaysian Palm Oil Association and the Malaysian Palm Oil Council. 

Malaysia has made Islamic finance a priority and placed it at the center of its financial and capital market development plans. The decision to accelerate the development of Islamic finance was a reasoned one to promote future financial stability and sustained growth, in contrast to the financial crisis that the country experienced under the conventional financial in 1997-98. 

Moreover, as Islamic finance is growing rapidly the world over and can be expected to do so in the foreseable future in part because of rising oil revenues, Malaysia is well positioned to become the combined New York and London of Islamic finance, a position that it should maintain and solidify for years to come. 

Hossein Askari is professor of international business and international affairs at George Washington University andNoureddine Krichene, who has a PhD from UCLA, is professor of finance at INCEIF in Kuala Lumpur. 

(Asia Times Online)

Islamic Investment Consultant

Ahmad Sanusi Husain has over 19 years of experience in Islamic finance, professional training, consulting, education, business and management fields. He served at a public university, a government department, a leading Islamic bank, a national Islamic banking & finance institute, a national Islamic banking association and a currently a premier consulting & training firm. Currently he is the CEO of GlobalPro Consulting and AlFalah Consulting based in Kuala Lumpur, Malaysia.

He is the former Executive Director of the Association of Islamic Banking Institutions Malaysia (AIBIM), a national association representing 19 islamic banking institutions in Malaysia, established in 1995. He had also served as the Director of Training and Professional Development at Islamic Banking and Finance Institute Malaysia (IBFIM) which was established in the year 2001.

Prior to that he served as the Manager of Training at Bank Islam Institute of Research and Training (BIRT), which was established in 1995. During his service at both BIRT and IBFIM, he was entrusted with the planning, development and management of training and professional development programs in the fields of Islamic banking, finance, capital market, value-based management and other related subjects for institutions in Malaysia and other countries.

Prior to joining BIRT, he served at Bank Islam Malaysia Berhad (BIMB), the first Islamic bank in Malaysia, from 1991 until 1995 as an officer in the Organisation and Methods Department. While serving at Bank Islam, he was responsible for research & development, manual writing and introduction of bank’s numerous Islamic financial products and services particularly Islamic consumer and retail banking facilities as well as advising and training other local and international financial institutions and organisations in developing their Islamic financial products and services. In the early part of his career life, he had served with Inland Revenue Board of Malaysia (IRB) and Universiti Utara Malaysia (UUM).

Ahmad Sanusi is also a consultant and trainer in the field of Islamic banking and finance, management and personal development. Since 1992, he has been actively involved and delivered thousands of lectures in seminars, training, academic programs and also consultancy services to various institutions and organisations. Thousands of participants from more than 50 countries across 5 continents i.e. Asia, Africa, Europe, North America and Australia/Oceania have attended public training programs organised by him and his team over the years i.e. since 1992.

His tour of duty takes him to various countries:

1) Malaysia 2) Indonesia 3) Singapore 4) Brunei 5) Thailand 6) Philippines 7) Egypt 8) Bahrain 9) USA 

He has managed professional training ranging from 1 day talk to 17 days international integrated course on Islamic banking and finance. He was one of pioneer trainers and consultants for Interest-free Banking Scheme introduced by the Bank Negara Malaysia(BNM) in 1993 (currently known as Islamic Banking Scheme). Beside Islamic finance, he is a trainer and consultant on management topics and personal development.

He was appointed as a writer for learning module for the Certified Islamic Finance Professional Programme offered by the International Centre for Education in Islamic Finance(INCEIF). (INCEIF is an international centre of educational excellence in Islamic finance, established to develop talents including professionals and specialists in Islamic finance who are much needed to sustain market competitiveness and meet future challenges in the Islamic financial industry. INCEIF has been granted a university status by the Malaysian government).

He is the Chief Moderator/lecturer/module writer (Islamic Banking) at the Financial Sector Talent Enrichment Program (FSTEP), an initiative of IBBM, ABM, IBFIM, AIBIM, MTA, MIBA, LIAM, PIAM and MII with the support of Bank Negara Malaysia and financial institutions.He is also a trainer/consultant on Islamic unit trust and syariah-compliant investment to leading Islamic fund management companies. He was appointed as Member of Board of Studies (BOS) for BBA (Muamalat) for Universiti Tun Abdul Razak (UNITAR).

He has appeared on live television interview programmes on Radio Television Malaysia (RTM) and Radio Television Brunei (RTB). Invited to be chairperson in programs organised by international event organisers.

Ahmad Sanusi is an economics graduate from Northern Illinois University (NIU), USA. He also obtained qualifications in Islamic financial planning, unit trust (mutual fund) investment, insurance/takaful and translation and keep on advancing his study various areas.

He is also a graduate in the first Islamic Financial Planner (IFP) certification program conducted by Financial Planning Association of Malaysia (FPAM) and IBFIM. IFP is recognised by the Securities Commission (SC) in applying for a capital markets services representative's licence to carry out the regulated activity of financial planning and also recognised by Bank Negara Malaysia (the central bank of Malaysia).

Professional membership:i) Member of Malaysian Institute of Management (MIMM) - the national management organisation and professional accreditation body in the field of management.ii) Trade Member, Financial Planning Association of Malaysia (FPAM)iii) Associate Member, Institute of Bankers Malaysia (AIBM)iv) Member, Federation of Investment Managers Malaysia (FiMM)

He hailed from the northern Malaysian state of Kedah Darul Aman (the State of Peace).

Ahmad Sanusi's areas of expertise (consulting/advisory/training/speaking):

A: ISLAMIC FINANCE & FINANCIAL PLANNING

1) Global development of Islamic finance

2) History of Islamic finance

3) Overview on Islamic banking

4) Overview on Islamic insurance (takaful)

5) Shariah principles in Islamic finance

6) Fiqh muamalat (Islamic commercial rules/laws)

7) Islamic economic system

8) Islamic wealth management

9) Islamic financial planning

10) Islamic unit trust/mutual fund

11) Islamic investment

12) Islamic retail (consumer) banking

13) Islamic consumer financing

14) Islamic product research, development and innovation

15) Accounting for Islamic banking

16) Shariah compliance audit

17) Risk management for Islamic financial institutions

18) Marketing strategies for Islamic financial services

19) System and solution development for IFI

20) Islamic finance syllabus & module development

B: BUSINESS & MANAGEMENT

1) Entrepreneurship excellence

2) Performance management

3) Change management

4) Training management

5) Islamic management & ethics

6) Economics for management

C: PERSONAL DEVELOPMENT & SELF-IMPROVEMENT

1) Al Falah success principles

2) The psychology and science of success

3) Empowering the mind

4) Positive mental attitude/positive thinking

5) Formula for excellence and success

6) Team building and organizational excellence

(The above courses or lectures can be delivered in English or Malay (Bahasa Malaysia/Indonesia).

---------------------------------------------------------------

My contact info:

Ahmad Sanusi Husain
CEO, GlobalPro Consulting & AlFalah Consulting

Kuala Lumpur, MALAYSIA

e-mail : sanusi.my@gmail.com

mobile: +6019-234 8786

Pelaburan Islam: Halal dan menguntungkan (rekod pulangan 2009 : 29-55% p.a)

Pelaburan Islam - Halal dan menguntungkan:

* Pelaburan Halal
* Patuh Syariah* Pulangan memuaskan (rekod tahun lepas 29-55% p.a - dari 11 dana ekuiti)
* Prestasi cemerlang
* Pengurusan profesional (pengurus aset terbaik di Asia Tenggara)
* Perkhidmatan terbaik
* Perunding berpengalaman


Dana-dana Islam ini diuruskan oleh CWA, sebuah syarikat dalam kumpulan kewangan CIMB Group yg mempunyai nilai pasaran terbesar di Malaysia (RM80 billion). 

e-mail: sanusi.my@gmail.com

SMS: +6019 234 8786

Laman web: 
i)  Islamic Investment Malaysia: www.islamic-invest-malaysia.com
ii) Unit amanah Islam: www.unit-amanah-islam.com

Hadith on Ramadan - the gates of the heaven are opened...

Narrated Abu Huraira: Allah's Apostle said, "When the month of ramadan starts, the gates of the heaven are opened and the gates of Hell are closed and the devils are chained."


(Sahih Bukhari, Book #31, Hadith #123)

Hadith on Ramadan - reach the peak in generosity in the month of ramadan.... ‎(Sahih Bukhari, Book #1, Hadith #5)

Narrated Ibn 'Abbas: Allah's Apostle was the most generous of all the people, and he used to reach the peak in generosity in the month of ramadan when Gabriel met him. Gabriel used to meet him every night of ramadan to teach him the Qur'an. Allah's Apostle was the most generous person, even more generous than the strong uncontrollable wind (in readiness and haste to do charitable deeds).

‎(Sahih Bukhari, Book #1, Hadith #5)

Quran verses on Ramadan

(1) O you who believe! Observing As-Saum (the fasting) is prescribed for you as it was prescribed for those before you, that you may become Al-Muttaqun (the pious).

(Quran, Al-Baqarah, Chapter 2, Verse 183)

(2) [Observing Saum (fasts)] for a fixed number of days, but if any of you is ill or on a journey, the same number (should be made up) from other days. And as for those who can fast with difficulty, (e.g. an old man), they have (a choice either to fast or) to feed a Miskin (poor person) (for every day). But whoever does good of his own accord, it is better for him. And that you fast is better for you if only you know. (Quran, Al-Baqarah, Chapter 2, Verse 184)

(3) The month of ramadan in which was revealed the Qur'an, a guidance for mankind and clear proofs for the guidance and the criterion (between right and wrong). So whoever of you sights (the crescent on the first night of) the month (of ramadan i.e. is present at his home), he must observe Saum (fasts) that month, and whoever is ill or on a journey, the same number [of days which one did not observe Saum (fasts) must be made up] from other days. Allah intends for you ease, and He does not want to make things difficult for you. (He wants that you) must complete the same number (of days), and that you must magnify Allah [i.e. to say Takbir (Allahu Akbar; Allah is the Most Great] for having guided you so that you may be grateful to Him. (Quran, Al-Baqarah, Chapter 2, Verse 185)


(4) It is made lawful for you to have sexual relations with your wives on the night of As-Saum (the fasts). They are Libas [i.e. body cover, or screen, or Sakan, (i.e. you enjoy the pleasure of living with them - as in Verse 7:189) Tafsir At-Tabari ], for you and you are the same for them. Allah knows that you used to deceive yourselves, so He turned to you (accepted your repentance) and forgave you. So now have sexual relations with them and seek that which Allah has ordained for you (offspring), and eat and drink until the white thread (light) of dawn appears to you distinct from the black thread (darkness of night), then complete your Saum (fast) till the nightfall. And do not have sexual relations with them (your wives) while you are in I'tikaf (i.e. confining oneself in a mosque for prayers and invocations leaving the worldly activities) in the mosques. These are the limits (set) by Allah, so approach them not. Thus does Allah make clear His Ayat (proofs, evidence, lessons, signs, revelations, verses, laws, legal and illegal things, Allah's set limits, orders) to mankind that they may become Al-Muttaqun (the pious). [Quran, Al-Baqarah, Chapter 2, Verse 187]

(5) Verily, the Muslims (those who submit to Allah in Islam) men and women, the believers men and women (who believe in Islamic Monotheism), the men and the women who are obedient (to Allah), the men and women who are truthful (in their speech and deeds), the men and the women who are patient (in performing all the duties which Allah has ordered and in abstaining from all that Allah has forbidden), the men and the women who are humble (before their Lord - Allah), the men and the women who give Sadaqat (i.e. Zakat, and alms), the men and the women who observe Saum (fast) (the obligatory fasting during the month of ramadan, and the optional Nawafil fasting), the men and the women who guard their chastity (from illegal sexual acts) and the men and the women who remember Allah much with their hearts and tongues Allah has prepared for them forgiveness and a great reward (i.e. Paradise).  [Quran, Al-Ahzab, Chapter 33, Verse 35]

(6) We sent it (this Qur'an) down on a blessed night [(i.e. night of Al-Qadr, Surah No. 97) in the month oframadan - the 9th month of the Islamic calendar]. Verily, We are ever warning [mankind that Our Torment will reach those who disbelieve in Our Oneness of Lordship and in Our Oneness of worship].  [Quran, Ad-Dukhan, Chapter 44, Verse 3]

10 Sebab Doa Terhijab

“Wahai Syeikh Ibrahim Adham, kami telah berdoa kepada Allah, tetapi tidak diperkenankan-Nya lagi. Beritahulah kami apakah sebabnya?” Syeikh Ibrahim Adham menjawab, terhijabnya doa disebabkan 10 perkara..”

1) Kamu mengenali Allah tetapi tidak menunaikan hakNya (perintahNya).

2) Kamu membaca al-Quran tetapi tidak beramal dengannya.

3) Kamu mendakwa iblis itu musuh kamu tetapi kamu menurut hasutannya.

4) Kamu mendakwa mencintai Rasulullah tetapi kamu meninggalkan amalan dan sunnahnya.

5) Kamu mendakwa mencintai syurga tetapi kamu tidak beramal untuk mendapatkannya.

6) Kamu mendakwa membenci neraka tetapi kamu tidak meninggalkan perbuatan dosa.

7) Kamu mendakwa mati itu benar tetapi kamu tidak bersedia untuk menghadapinya.

8) Kamu sibuk menceritakan keaiban orang lain tetapi kamu lupa keaiban diri sendiri.

9) Kamu makan rezeki Allah tapi kamu tidak mensyukurinya.

10) Kamu mengebumikan jenazah saudaramu tetapi kamu lupa mengambil ikhtibar daripadanya.

---

Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com 

Alfalah Consulting - Kuala Lumpur : www.alfalahconsulting.com

Islamic Investment Malaysia: www.islamic-invest-malaysia.com
Pelaburan Unit Amanah Islam: www.unit-amanah-islam.blogspot.my

25 Advices on Ramadhan - From the Book "Khulaasatul Kalaam"

From the book "Khulaasatul Kalaam" by Shaykh Jaarullah.

Brother Muslim, Sister Muslima:

1. Fast Ramadhan with belief and truly seeking the reward of Allah the Most High so that He may forgive you your past sins.

2. Beware of breaking your fast during the days of Ramadhan without a valid Islamic excuse, for it is from the greatest of sins.

3. Pray Salat ut-Taraweeh and the night prayer during the nights of Ramadhan - especially on Layatul-Qadr - based on belief and truly seeking the reward of Allah, so that Allah may forgive you your past sins.

4. Make sure that your food, your drink and your clothing are from halal means, in order that your actions be accepted, and your supplications answered. Beware of refraining from the halal while fasting and breaking your fast with the haram.

5. Give food to some fasting people to gain a reward similar to theirs.

6. Perform your five prayers on time in congregation to gain the reward and Allah's protection.

7. Give a lot of charity for the best charity is that of Ramadhan.

8. Beware of spending your time without performing righteous deeds, for you will be responsible and reckoned for it and will be rewarded for all you do during your time.

9. Perform `umrah in Ramadhan for `Umrah in Ramadhan is equal to Hajj.

10. Seek help for fasting during the day by eating the sahoor meal in the last part of the night before the appearance of Fajr.

11. Hasten breaking your fast after the sun has truly set in order to gain the love of Allah.

12. Perform ghusl before fajr if you need to purify yourself from the state of major impurity so that you are able to do acts of worship in a state of purity and cleanliness.

13. Cease the opportunity of being in Ramadhan and spend it with the good that has been revealed in it - by reciting the noble Qur'an and pondering and reflection of its meanings so that it be a proof for you with your Lord and an intercessor for you on the Day of Reckoning.

14. Preserve your tongue from lying, cursing, backbiting and slander for it decreases the reward of fasting.

15. Do not let fasting cause you cross your boundaries by getting upset due to the slightest of reasons. Rather, fasting should be a cause of peacefulness and tranquility of your soul.

16. Upon completion of fasting, be in a state of taqwa of Allah the Most High, being aware of Allah watching you in secret and in public, in thankfulness for His favors, and steadfastness upon obedience of Allah by doing all what He has ordered and shunning all that He has prohibited.

17. Increase in remembrance of Allah, seeking of forgiveness, asking for Paradise and protection against the Fire, especially when fasting, while breaking the fast and during suhoor, for these actions are among greatest causes of attaining Allah's forgiveness.

18. Increase in supplication for yourself, your parents, your children and Muslims, for Allah has ordered making of supplications and has guaranteed acceptance.

19. Repent to Allah with a sincere repentance in all times by leaving sins, regretting those that you have done before and firmly deciding not to return to them in the future, for Allah accepts repentance of those who repent.

20. Fast six days of Shawwal, for whoever fasts Ramadhan and then follows it with six days of Shawwal, it is as if he fasts all the time.

21. Fast on the Day of `Arafah, the 9th of Dhul Hijjah, to attain success by being forgiven your sins of the last year and the coming year.

22. Fast on the day of `Aashuraa', the 10th of Muharram, along with the 9th, to attain success by being forgiven your sins of the past year.

23. Continue being in a state of iman and taqwa and perform righteous actions after the month of Ramadhan, until you die. "And worship your Lord until there comes to you the certainty (i.e. death)". [Qur'an 15:99]

24. Ensure that you attain the positive effects of your acts of worship such as prayer, fasting, zakat and hajj, sincere repentance and leaving of customs that are in variance with the Sharee`ah.

25. Invoke a lot of salawat and salam upon the Messenger of Allah, may Allah's blessings and peace be upon him, his Companions and all those who follow them until the Day of Judgment.

O Allah make us and all Muslims of those who fast and stand in prayer during the month of Ramadhan based on belief and truly seeking Your reward so that we are forgiven our past and future sins.

O Allah make us of those who fasted the month, attained full reward, witnessed Layatul-Qadr and attained success by permission of the Lord, Blessed and Most High.

O Allah, verily you are Forgiver, like to forgive, so forgive us.

O Lord, accept from us, verily you are the All-Hearing, all-Seeing, O Living, O Independent, O Owner of all majesty and honor.

And may Allah's blessings and peace be upon Muhammad, his family and his Companions.