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Grande Strategy

21st Century Islamic State - Glossary

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Economic Concepts

Riba: Interest or usury
Fractional reserve banking: A widespread practice where banks only keep a fraction of the deposits made to them and lend out the rest.
Limited liability: where an individual’s financial liability is limited, typically to the sum of the investment made.
Venture capital: A fund raising technique whereby a company receives financing typically in exchange for equity in the company.
Derivatives (financial): Is a financial instrument that is derived from some other asset, index, event, value or condition, as opposed to the underlying asset itself.
Risk-less interest rate: A theoretical interest rate that is free of risk, typically, government issued bills are considered riskless, particularly the American 3 month treasury bill.
Monetary policy: The regulation of the money supply and interest rates of an economy by a central bank.
Fiscal policy: Economic policy that uses taxation and government spending to effect the economy.
Tobin’s Q: Ratio of the market value of a firm to the replacement cost of the firm.

Military Concepts:
JF-17: A fighter aircraft built jointly by Pakistan and China.
Close Air Support (CAS): Air support by fixed or rotary winged aircraft provided in close proximity to friendly forces.
Combined Arms Air Component (CA-AC): A new form of air-ground military operation paradigm proposed by the author.
Mobile Guard: Elite light cavalry in Khalid Bin Waleed’s army.

Theological Concepts:
Hijra: migration in the way of Allah, often from oppression.
Dawah: invitation to Islam by Muslims to non-Muslims.
Ummah: General Muslim body as a whole.
Original Sin: A Christian belief that humans are born in a state of sin because of the actions of ancestors rather than the sin of the individual.

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