Search results for: Islamic resources

Authors: Ehsan Soltanzadeh, Hassan Zare

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This paper introduces examples of the influences of global warming on water resources and means of adaptation. The contributing causes of shortage in water resources are sophisticated and have interactions with each other. The world-scale phenomena like global warming have led to an increase in air and ocean’s mean temperature, and this has already caused adverse effects on water resources. Other factors that exacerbated this situation such as population increase, changes in farming habits, rise in city dwellers, unbalanced request for energy and aquatic resources, improved living standards, new eating habits, increasing economic growth and consequently flourishing industrial activities, and different types of pollution such as air, water, etc., are compelling more pressure on our limited water resources. The report will briefly discuss climate change and its detrimental impacts on the water resources and finally will introduce two effective solutions to mitigate the consequences or even reverse them in the near to mid-term future: utilization of molten salt technology for storing huge amounts of generated electricity in solar power plants to accommodate power grid demands, and implementing fuel cell CHPs to reduce carbon emission, and consequently, mitigate the global warming phenomenon as the major root cause of threatening water resources.

Keywords: climate change, global warming, water resources, GHG emissions, fuel cell-CHP, solar power plant, molten salt storage

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Authors: Lee Li

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The strategic management literature posits that the major motive of strategic alliances is to share resources, costs and risks. However, the literature also indicates that such sharing leads to transaction costs which are positively correlated with environmental dynamism. As such, it is not clear why firms are willing to cover high transaction costs for sharing resources, costs and risks. This study categorizes resources into firm-specific and general resource; costs into accounting and non-accounting cost; and risks into visible and invisible risks. Using data from 167 Canadian firms in technology industries, we find that sharing firm-specific resources and non-accounting costs are negatively correlated with environmental dynamism but sharing general resources, accounting costs and visible risks are positively correlated with environmental dynamism. Findings suggest that sharing certain resources, costs and risks do not necessarily incur high transaction costs.

Keywords: environmental dynamism, strategic alliances, resource/cost/risk sharing

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Authors: Aqeel Akhtar

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One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

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Authors: A. Serap Fırat

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The aim of this study is to display conceptually the relationship and interaction between matter of human resources training and the information age. Fast development from industrial community to an information community has occurred and organizations have been seeking ways to overcome this change. Human resources policy and human capital with enhanced competence will have direct impact on work performance; therefore, this paper deals with the increased importance of human resource management due to the fact that it nurtures human capital. Researching and scanning are used as a method in this study. Both local and foreign literature and expert views are employed -as much as one could be- in the making of the theoretical framework of this study.

Keywords: human resources, information age, education, organization, occupation

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Authors: B. Madhevan, R. Sakkaravarthi, R. Diya

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The number and variety of mobile robot applications are increasing day by day, both in an industry and in our daily lives. First developed as a tool, nowadays mobile robots can be integrated as an entity in Internet-accessible resources. The present work is organized around four potential resources such as cloud computing, Internet of things, Big data analysis and Co-simulation. Further, the focus relies on integrating, analyzing and discussing the need for integrating Internet-accessible resources and the challenges deriving from such integration, and how these issues have been tackled. Hence, the research work investigates the concepts of the Internet-accessible resources from the aspect of the autonomous mobile robots with an overview of the performances of the currently available database systems. IaR is a world-wide network of interconnected objects, can be considered an evolutionary process in mobile robots. IaR constitutes an integral part of future Internet with data analysis, consisting of both physical and virtual things.

Keywords: internet-accessible resources, cloud computing, big data analysis, internet of things, mobile robot

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Authors: Yuyun Sri Wahyuni, Fathih Misbahuddin Islam

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Nanggroe Aceh Darussalam is the special district with its long conflict history. The long conflict history started from The Free Aceh Movement’s intentions to implement Islamic principles in Aceh Province, it was actually contradicted with the principles of state. This long conflict was finally ended on 2005. Then, since 2005 Aceh had special authority to administer its local government affairs by applying Islamic principles (syariah), included criminal law matters. To administer it, Aceh Government enacted Law Number 6 of 2014 on the Jinayah. This law consists the criminal act (jarimah) and the punishment (uqubat). Khamr, maisir, khalwat, ikhtilath, zina, sexual harrasment, rape, qadzaf, liwath, and musahaqah are the kinds of the criminal act which are ruled within. Meanwhile, Hudud and Takdzir as the kinds of punishment (uqubat). After 2 years of the issuance of this law inflicting controversy from any sides and being discussed not only locally but also globally. The objectives of this paper are to analyze the fundamental value of the flagellation punishment within this law and Aceh Government review in formulating the law.

Keywords: Aceh province, flagellation punishment, Islamic Principle, Qanun Jinayah

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Authors: Nur Farizah Binte Mohd Sedek

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Divine love is ubiquitous in many religions and philosophies. In the Islamic Sufi tradition, it is recognized as an “intense yearning for unification” with God. Previous literature demonstrates that divine love plays a role in forming meaning and purpose in one’s life. However, previous research has not explored the effects of the Islamic practice of divine love contemplation on meaning and purpose in life. The current study used an experimental design to investigate whether a divine love contemplation intervention has an impact on meaning and purpose in life in Muslims through the framework of Islamic Psychology. The sample consisted of 34 participants (7 males and 27 females) who were randomly assigned to one of two groups: Intervention (n = 20) and Control (n = 14). Participants in the intervention group did a general litany and a divine love supplication and contemplation exercise, while participants in the control group did only a general litany exercise. Three hypotheses were tested using a mixed-design two-way (split-plot) Analysis of Variance (ANOVA) to determine whether participants in the intervention group will report a significant increase in 1) divine love, 2) meaning in life, and 3) purpose in life from before to after the intervention, whereas participants in the control group will not report a significant change in the mentioned constructs. The results supported Hypothesis 1, in that a significant interaction between group and time emerged for divine love. Specifically, the intervention group reported a significant increase in divine love from before to after the intervention, whereas the control group did not report a significant change in divine love. Furthermore, the effect size was large, even though the mean difference was negligible, indicating that this change was substantial enough to have a considerable effect on the sample. However, the tests of the second and third hypotheses were not significant, suggesting that the divine love contemplation intervention did not have a significant impact on meaning or purpose in life. Suggestions for future research include qualitative phenomenological studies that could be conducted to glean experiential insight into the constructs from the participants’ individual accounts.

Keywords: divine love, meaning in life, purpose in life, contemplation, islamic psychology

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Authors: Herjuno Bagus Wicaksono, Emma Almira Fauni, Salma Amelia Dina

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The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient.

Keywords: efficient market hypothesis, Indonesia sharia stock index, random walk, weak form efficiency

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Authors: Irfan U. Din

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The growing presence and operational capacity of Islamic State aka Daesh, which emerged in Pak-Afghan region in 2015, poses a serious threat to the already fragile state of the security situation in the region. This paper will shed light on the current state of IS-K network in the Pak-Afghan region and will explain how its presence and operational capacity in the northern and central Afghanistan has increased despite intensive military operations against the group in Nangarhar province – the stronghold of IS-K. It will also explore the role of Pakistani Taliban in the emergence and expansion of IS-K in the region and will unveil the security implication of growing nexus of IS-K and transnational organized groups for the region in Post NATO withdrawal scenario. The study will be qualitative and will rely on secondary and primary data to explore the topic. For secondary data existing literature on the topic will be extensively reviewed while for primary data in-depth interviews will be conducted with subject experts, Taliban commanders, and field researchers.

Keywords: Islamic State of Khorasan (IS-K), North Atlantic Treaty Organization (NATO), Pak-Afghan Region, Transnational Organized Crime (TNOC)

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Authors: Basyir Yaman, Fades Br. Gultom

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The picture and pattern of Islamic education in the Prophet's period in Mecca and Medina is the history of the past that we need to bring back. The Basic Education Institute called Kuttab. Kuttab or Maktab comes from the word kataba which means to write. The popular Kuttab in the Prophet’s period aims to resolve the illiteracy in the Arab community. In Indonesia, this Institution has 25 branches; one of them is located in Semarang (i.e. Kuttab Al-Fatih). Kuttab Al-Fatih as a non-formal institution of Islamic education is reserved for children aged 5-12 years. The independently designed curriculum is a distinctive feature that distinguishes between Kuttab Al-Fatih curriculum and the formal institutional curriculum in Indonesia. The curriculum includes the faith and the Qur’an. Kuttab Al-Fatih has been licensed as a Community Activity Learning Center under the direct supervision and guidance of the National Education Department. Here, we focus to describe the implementation of curriculum Kuttab Al-Fatih Semarang (i.e. faith and al-Qur’an). After that, we determine the relevance between the implementation of the Kuttab Al-Fatih education system with the formal education system in Indonesia. This research uses literature review and field research qualitative methods. We obtained the data from the head of Kuttab Al-Fatih Semarang, vice curriculum, faith coordinator, al-Qur’an coordinator, as well as the guardians of learners and the learners. The result of this research is the relevance of education system in Kuttab Al-Fatih Semarang about education system in Indonesia. Kuttab Al-Fatih Semarang emphasizes character building through a curriculum designed in such a way and combines thematic learning models in modules.

Keywords: Islamic education system, implementation of curriculum, Kuttab Al-Fatih Semarang, formal education system, Indonesia

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Authors: Tianqi Yin

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The sharia had been the legislative basis in the Ottoman Empire since its emergence. The authority of sharia was superlative in the Islamic society compared to the power of the sulta, the nominal ruler of the nation, regulating essentially every aspect of people’s lives according to an ethical code. In modernity, however, as European sovereignty employed forces to re-engineer the Islamic world to make it more like their own, a society ruled by a state, the Ottoman legislation system encountered a great challenge of adopting codified laws to replace sharia with the formulation of the Mecelle being a prominent case. Interpretations of this transformation have been contentious, with the key debate revolving around whether these codified laws are authentic representations of sharia or alien legal formulations authorized by the modern nation-state under heavy European colonial influence. Because of the difference in methodology of the diverse theories, challenges toward having a universal conclusion on this issue remain. This paper argues that the formulation of the Mecelle and other codified laws is a discontinuity of sharia due to European modernity’s influence and that the emphasis on elements of Islamic laws is a tactic employed to promote this process. These codified laws signals a complete social transformation from the Islamic society ruled by the sharia to a replication of the European society that is ruled by a comprehensive ruling system of the modern state. In addition to advancing the discussion on the characterization of the codification movement in the Ottoman Empire in modernity, the research also promotes the determination of the nature of the modern codification movement globally.

Keywords: codification, mecelle, modernity, sharia, ottoman empire

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Authors: Khawla Almulla

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It is noticed that many Arab intellectuals have called to the need and the importance of enlightenment and its application in their communities, such as Saudi Arabia. To every Islamic state, the Kingdom of Saudi Arabia represents a strategic cornerstone, since it is considered the cradle of Islam. It is the Land of the Two Holy Mosques: the Holy Mosque in Makkah surrounding the Kaaba, towards which all Muslims around the world turn while performing daily prayers and even travel to if possible in order to perform the Hajj (Pilgrimage). It also has the Prophet'ـ‘s Holy Mosque in Al-Madinah Al-Munawarah, which contains the tomb of Prophet Muhammad (pbuh). Therefore, Saudi Arabia occupies an eminent position among Arab and Islamic countries on a religious level. Saudi Arabia has become the most influential country in the Arab world, since it has one-third of the oil resources outside Central Asia, China and Russia .It is the world’s largest producer and exporter of oil. Discovering oil in Saudi Arabia converted it from an important country for Muslims-only to an important country for the major industrial countries and also the developing countries, as well. For various reasons, the diversity of intellectual currents can play a significant role in each community by way of cultural improvement, the development of civilization and the education of people until they become accustomed to accepting or rejecting opinions or ideas which differ from or oppose their own. In addition, the intellectual pluralism and cultural diversity can play a variety of roles. This helps promote dialogue and understanding between different groups or schools of thought. It can also develop cognitive skills, by exchanging ideas and views between different schools and intellectual currents. However, in Saudi Arabia there is much to oppose this plurality. The situation today shows that having a variety of ideologies and differences of cultures are not considered a reasonable way to develop intellectually as an individual or as a country. Rather the opposite is recommended, such that the ideologies of different groups are enough to bring out intellectual conflict and then to the segregation of society. As a consequence, extremism of thought from the different currents in Saudi Arabia has become apparent. This research is of great importance in its exploration of two significant themes. First, it highlights the Saudi Arabian background, in particular the historical, religious and social contexts, in order to understand the background of each religious or liberal movement and find the core of the intellectual differences between them. In addition, the aim of this research is to show the importance of moderation in Islamic thought in Saudi Arabia by tracing the thoughts and views of Dr Salman Al-Odah, whom he has considered to be the most important moderate thinker in Saudi Arabia.

Keywords: Saudi Arabia, intellectual movements, religious movements, extremism, moderation, Salafism, liberalism, Salman Al-Odah

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Authors: Monia Hassan Abdulrahman

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Resource-based view is built on many theories in addition to diverse perspectives, we extend this view placing emphasis on human resources addressing the tools required to sustain competitive advantage. Highlighting on several theories and judgments, assumptions were established to clearly reach if resource possession alone suffices for the sustainability of competitive advantage, or necessary accommodation are required for better performance. New practices were indicated in terms of resources used in firms, these practices were implemented on the human resources in particular, and results were developed in compliance to the mentioned assumptions. Such results drew attention to the significance of practices that provide enhancement of human resources that have a core responsibility of maintaining resource-based view for an organization to lead the way to gaining competitive advantage.

Keywords: competitive advantage, resource based value, human resources, strategic management

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Authors: Ya'u Saidu

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The introduction of the non-interest banking system in Nigeria was part of the regulators efforts to increase the inclusion of other stakeholders into the financial sector who have stayed out of the sector for some reasons. However, the concept has been misunderstood by various stakeholders within the country where some view it as a Muslim affair which exclude the non-Muslims from gaining despite its existence in advance countries of the world. This paper attempts to fill-in the gap created by the literature especially with regards to the proper education and enlightenment of the Nigerian citizens. Survey research method was employed where primary data was collected using questionnaire and convenience sampling was used to select 100 respondents. The data was analysed using Chi-square. It was found that lack of knowledge on Islamic banking has significant effect on its prospects.

Keywords: finance, non-interest, sustainability, enlightenment

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Authors: Mohd Bahroddin Badri, Ridzuan Masri

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Despite the existence of large volume of waqf assets, it is argued that the potential of these assets not fully unleashed. There are many waqf assets especially in the form of land waqf that are idle and undeveloped mainly because of the insufficient fund and lack of investment expertise. This paper attempts to explore few cases on the innovation of waqf development in Malaysia and some countries that demonstrate synergistic collaboration between stakeholders, e.g., the government, nazir, Islamic religious councils, corporate entities and Islamic financial institutions for waqf development. This paper shows that cash waqf, corporate waqf, Build-Operate-Transfer (BOT) and Sukuk are found to be contemporary mechanisms within Islamic finance ecosystem that drive and rejuvenate the development of waqf to the next level. It further highlights few samples of waqf Sukuk that were successfully issued in selected countries. This paper also demonstrates that the benefit of waqf is beyond religious matters, which may also include education, healthcare, social care, infrastructure and corporate social responsibility (CSR) activities. This research is qualitative in nature, whereby the researcher employs descriptive method on the collected data. The researcher applies case study and library research method to collect and analyse data from journal articles, research papers, conference paper and annual reports. In a nutshell, the potential of contemporary models as demonstrated in this paper is very promising, in which the practical application of those instruments should be expanded for the rejuvenation of waqf asset.

Keywords: cash waqf, corporate waqf, Sukuk waqf, build-operate-transfer

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Authors: Khalid Al-Tahat, Khaled Zuhair Mahmoud, Ahmad Al-Mughrabi

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This paper proposes a novel methodology for enabling debugging and tracing of production web applications without affecting its normal flow and functionality. This method of debugging enables developers and maintenance engineers to replace a set of existing resources such as images, server side scripts, cascading style sheets with another set of resources per web session. The new resources will only be active in the debug session and other sessions will not be affected. This methodology will help developers in tracing defects, especially those that appear only in production environments and in exploring the behaviour of the system. A realization of the proposed methodology has been implemented in Java.

Keywords: live debugging, web application, web resources, inconsistent bugs, tracing

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Authors: Fairouz Fakhfakh, Hatem Hadj Kacem, Ahmed Hadj Kacem

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Cloud computing offers a new model of service provisioning for workflow applications, thanks to its elasticity and its paying model. However, it presents various challenges that need to be addressed in order to be efficiently utilized. The resources provisioning problem for workflow applications has been widely studied. Nevertheless, the existing works did not consider the change in workflow instances while they are being executed. This functionality has become a major requirement to deal with unusual situations and evolution. This paper presents a first step towards the resources provisioning for a dynamic workflow. In fact, we propose a provisioning algorithm which minimizes the overall workflow execution cost, while meeting a deadline constraint. Then, we extend it to support the dynamic adding of tasks. Experimental results show that our proposed heuristic demonstrates a significant reduction in resources cost by using a consolidation process.

Keywords: cloud computing, resources provisioning, dynamic workflow, workflow applications

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Authors: Vakhtang Geladze, Nana Bolashvili, Nino Machavariani, Tamazi Karalashvili, Nino Chikhradze, Davit Kartvelishvili

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Fresh water deficit is one of the most important global problems today. In the countries with scarce water resources, they often become a reason of armed conflicts. The peaceful settlement of relations connected with management and water consumption issues within and beyond the frontiers of the country is an important guarantee of the region stability. The said problem is urgent in Georgia as well because of its water objects are located at the borders and the transit run-off that is 12% of the total one. Fresh water resources are the major natural resources of Georgia. Despite of this, water supply of population at its Eastern part is an acute issue. Southeastern part of the country has been selected to carry out the research. This region is notable for deficiency of water resources in the country. The region tends to desertification which aggravates fresh water problem even more and presumably may lead to migration of local population from the area. The purpose of study was creation geographical information system (GIS) of water resources. GIS contains almost all layers of different content (water resources, springs, channels, hydrological stations, population water supply, etc.). The results of work provide an opportunity to identify the resource potential of the mentioned region, control and manage it, carry out monitoring and plan regional economy.

Keywords: desertification, GIS, irrigation, water resources

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Authors: Yasmeen Cheema, Parvinder Singh

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The evolution of Islamic State (acronym IS) has an ultimate goal of restoring the caliphate. IS threat to the global security is main concern of international community but has also raised a factual concern for India about the regular radicalization of IS ideology among Indian youth. The incident of joining Arif Ejaz Majeed, an Indian as ‘jihadist’ in IS has set strident alarm in law & enforcement agencies. On 07.03.2017, many people were injured in an Improvised Explosive Device (IED) blast on-board of Bhopal Ujjain Express. One perpetrator of this incident was killed in encounter with police. But, the biggest shock is that the conspiracy was pre-planned and the assailants who carried out the blast were influenced by the ideology perpetrated by the Islamic State. This is the first time name of IS has cropped up in a terror attack in India. It is a red indicator of violent presence of IS in India, which is spreading through social media. The IS have the capacity to influence the younger Muslim generation in India through its brutal and aggressive propaganda videos, social media apps and hatred speeches. It is a well known fact that India is on the radar of IS, as well on its ‘Caliphate Map’. IS uses Twitter, Facebook and other social media platforms constantly. Islamic State has used enticing videos, graphics, and articles on social media and try to influence persons from India & globally that their jihad is worthy. According to arrested perpetrator of IS in different cases in India, the most of Indian youths are victims to the daydreams which are fondly shown by IS. The dreams that the Muslim empire as it was before 1920 can come back with all its power and also that the Caliph and its caliphate can be re-established are shown by the IS. Indian Muslim Youth gets attracted towards these euphemistic ideologies. Islamic State has used social media for disseminating its poisonous ideology, recruitment, operational activities and for future direction of attacks. IS through social media inspired its recruits & lone wolfs to continue to rely on local networks to identify targets and access weaponry and explosives. Recently, a pro-IS media group on its Telegram platform shows Taj Mahal as the target and suggested mode of attack as a Vehicle Born Improvised Explosive Attack (VBIED). Islamic State definitely has the potential to destroy the Indian national security & peace, if timely steps are not taken. No doubt, IS has used social media as a critical mechanism for recruitment, planning and executing of terror attacks. This paper will therefore examine the specific characteristics of social media that have made it such a successful weapon for Islamic State. The rise of IS in India should be viewed as a national crisis and handled at the central level with efficient use of modern technology.

Keywords: ideology, India, Islamic State, national security, recruitment, social media, terror attack

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Authors: Sevcan Ozturk

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The aim of this paper is to analyze the twentieth-century Muslim philosopher Muhammad Iqbal’s philosophy of action in the light of the main issues of contemporary philosophy of action. Iqbal is one of the most celebrated and eminent figures of modern Islamic thought. However, a review of the works on Iqbal shows that most of the central concepts of his philosophy have not received enough attention. His notion of ‘action’ in its philosophical context is one of these concepts. One of the main characteristics of Iqbal’s approach is that he develops his discussion around the main themes of contemporary philosophy of action, which includes ontological and conceptual questions regarding the nature of human actions. He also discusses that action is the only way to develop human personality, and that the human being can only achieve immortality promised by Islam through his actions. Therefore, while presenting an approach that can be read in the light of contemporary philosophy of action, which has become one of the significant parts of modern philosophical discussions in the west particularly since the nineteenth century, he, at the same time, develops his own philosophy of action in the light of Islamic resources. Consequently, these two main characteristics of his discussion of the notion of action make his philosophy of action an important contribution to contemporary philosophy of action, a field that ignores the discussions of Muslim philosophers on action. Therefore, this paper aims at highlighting Iqbal’s contribution to the modern debate of action by analysing Iqbal’s notion of action in the light of the contemporary issues of philosophy of action. This will, first of all, include an examination of contemporary action theory. Although the main discussions of contemporary philosophy of action will provide the methodology of this study, the main paradigms of Iqbal’s approach to the notion of action will also be considered during the examination of the discussions of philosophy of action. Then, Iqbal’s own philosophy of action will be established in the light of the contemporary philosophy of action. It is hoped that this paper will cultivate a dialogue between Iqbal scholars and those working in the field of philosophy of action, and that it will be a contribution to the fields of Iqbal studies, philosophy of action, and intercultural philosophy.

Keywords: action, development of personality, Muhammad Iqbal, philosophy of action

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Authors: Nana Kojo Ayimadu Baafi, Kwesi Amponsah-Tawiah

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The study investigated the relationship between job-related anxiety and employee creativity. The study further explored the role of job resources in moderating the relationship between job-related anxiety and employee creativity within the oil and gas industries. The study utilized a cross-sectional survey design. A non-probability sampling technique, specifically convenience sampling, was used to sample 1200 participants from multiple companies within the oil and gas industries. The collected data were analyzed using Regression analysis and PROCESS macro for the moderation analysis. The study empirically demonstrated a negative significant relationship between job-related anxiety and employee creativity. It also exhibited that job resources moderated the relationship between job-related anxiety and creativity. This study addresses gaps in previous studies by highlighting the significance of job resources in how job-related anxiety affects employee creativity.

Keywords: employee creativity, job-related anxiety, job resource, human resources

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Authors: Alireza Naserpoor

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Derivatives are the most important innovation which has happened in the past decades. When it comes to financial markets, it has changed the whole way of operations of stock, commodities and currency market. Beside a lot of advantages, Conventional derivatives contracts have some disadvantages too. Some problems have been caused by derivatives contain raising Volatility, increasing Bankruptcies and causing financial crises. Standard Parallel Salam contract as an Islamic financial product meanwhile is a financing instrument can be used for risk management by investors. Standard Parallel Salam is a Shari’ah-Compliant contract. Furthermore, it is an alternative to conventional derivatives. Despite the fact that the unstructured types of that, has been used in several Islamic countries, This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. In this paper after introducing parallel Salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel Salam contract and proceed to describe standard scenarios for trading this instrument and practical experience in Iran Mercantile Exchange about this instrument. Afterwards, we make a comparison between SPS and Futures contracts as a conventional derivative. Standard parallel salam contract as an Islamic financial product, can be used for risk management by investors. SPS is a Shariah-Compliant contract. Furthermore it is an alternative to conventional derivatives. This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. despite the fact that the unstructured types of that, has been used in several Islamic countries. In this article after introducing parallel salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel salam contract and proceed to describe standard scenarios for trading this instrument containing two main approaches in SPS using, And practical experience in IME about this instrument Afterwards, a comparison between SPS and Futures contracts as a conventional derivatives.

Keywords: futures contracts, hedging, shari’ah compliant instruments, standard parallel salam

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Authors: Md. Akiz Uddin

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This research attempted to identify the determining factors that extensively persuaded customers of the First Security Islamic Bank Limited (FSIBL) to open accounts and their perception and satisfaction level towards it. Initially, a theoretical model was established based on existing literature reviews. After that, a self-administered structured questionnaire was developed, and data were collected from 180 customers of the FSIBL of Bangladesh using purposive sampling technique. The collected data were later analyzed through a statistical software. Structural Equation Modelling (SEM) was used to verify the model of the study and test the hypotheses. The study particularly examined the determinants of opening accounts, customers’ perception and their satisfaction level towards the bank on several factors like the bank’s compliance with Shariah law, use of modern technology, assurance, reliability, empathy, profitability, and responsiveness. To examine the impact of religious belief on being FSIBL clients, the study also investigates non-Muslim clients’ perception about FSIBL. The study focused on FSIBL customers only from five branches of Dhaka city. The study found that the religious beliefs is the most significant factors for Muslim customers for considering FSIBL to open an account, and they are satisfied with the services, too. However, for non-Muslim customers, other benefits like E-banking, various user-friendly services are the most significant factors for choosing FSIBL. Their satisfaction level is also statistically significant. Furthermore, even if the non- Muslim customers didn’t consider religious beliefs as determinant factors for choosing FSIBL, the respondents informed that they have trust that people who believe in shariah law are more reliable to keep money with them. These findings open up the avenue for future researchers to conduct more study in this area through employing a larger sample size and more branches and extending the current model by incorporating new variables. The study will be an important addition to the potentials of Islamic banking system, literature of service quality and customer satisfaction level, particularly in the success of Islamic banking system in Bangladesh.

Keywords: islamic banking, customers’ satisfaction, customers’ perception, shariah law

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Authors: Shabnam Dadparvar, Laijin Shen, Farzad Ravanbod

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Regarding the issues that are currently happening in the world, more than any other time the differences between West and Islam is under discussion. The cultural relations between Islam and the West took a drastically new turn when Europe arose as the dominant and unchallenged force of the modern era. The author, by using descriptive- analytical method, tries to analyse one of the most controversial questions facing analysts of relations between the Islamic world and the West: What are the roots of the conflict? This paper addresses the history of the intellectual tradition of the West and the attitude of Muslim world regarding the rise of western modernity. Also, the differences between two groups on philosophical foundations such as religion, power, science and humanism will be explained. The author believes that the real difference between the West and Islam is epistemological.

Keywords: civilization, culture, Islam, West

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Authors: Noor Suhaida Kasri

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In the last three decades, Malaysia has developed fundamental legal and regulatory structures that aim to accommodate and facilitate the growth of Islamic banking and finance industry. Important building blocks have been put in place, to cite a few, the elevation of the position of the Malaysian Central Bank Shariah Advisory Council (SAC) as the apex advisory body and the empowerment of their Shariah resolutions through the Central Bank Act 1958; the promulgation of the Islamic Financial Services Act 2013 that regulate and govern Islamic finance market with a robust statutory requirement of Shariah governance and Shariah compliance. Notwithstanding these achievements, enforceability of Shariah-compliant contract remains a contentious subject. The validity of Al Bai Bithaman Ajil concept that was commonly used by the Islamic financial institutions in their financing facilities structures and documentation has been unabatedly challenged by the customers in courts. The challenge was due to the manner in which the Al Bai Bithaman Ajil transactions were carried out. Due to this legal challenge, Al Bai Bithaman Ajil financing structure seems to no longer be the practitioners’ favourite in Malaysia, though its substitute tawarruq and commodity murabahah financing structure may potentially face similar legal challenges. This paper examines the legal challenges affecting the enforceability of these underlying Shariah contracts. The examination of these cases highlights the manner in which these contracts were being implemented and applied by the Malaysian Islamic financial institutions that triggered Shariah and legal concern. The analysis also highlights the approach adopted by the Malaysian courts in determining the Shariah issues as well as the SAC in ascertaining the rulings on the Shariah issues referred to it by the courts. The paper adopts a qualitative research methodology by using textual and documentary analysis approach. The outcome of this study underlines factors that require consideration by industry stakeholder in order to ameliorate the efficacy of the existing building blocks that would eventually strengthens the validity and enforceability of Shariah-compliant contracts. This, in the long run, will further reinforce financial stability and trust into the Islamic banking and finance industry in Malaysia.

Keywords: enforceability of Shariah compliant contract, legal challenge, legal and regulatory framework, Shariah Advisory Council

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Authors: Barbara Heinisch, Mikael Snaprud

Abstract:

A common, well understood language is crucial in critical situations like landing a plane. For e-Government solutions, a clear and common language is needed to allow users to successfully complete transactions online. Misunderstandings here may not risk a safe landing but can cause delays, resubmissions and drive costs. This holds also true for higher education, where misunderstandings can also arise due to inconsistent use of terminology. Thus, language barriers are a societal challenge that needs to be tackled. The major means to bridge language barriers is translation. However, achieving high-quality translation and making texts understandable and accessible require certain framework conditions. Therefore, the EU and individual projects take (strategic) actions. These actions include the identification, collection, processing, re-use and development of language resources. These language resources may be used for the development of machine translation systems and the provision of (public) services including higher education. This paper outlines some of the existing resources and indicate directions for further development to increase the quality and usage of these resources.

Keywords: language resources, machine translation, terminology, translation

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Authors: Turkan Harmanbasi, Zeliha Busra Eryigit

Abstract:

The Anatolian Seljuk State was established in Anatolia by the Seljuks and continued its existence between the 11th and 14th centuries. Iznik was the first capital of Anatolian Seljuks. With the conquest of Konya in 1086, this place was declared as the capital. The Anatolian Seljuk State, with its numerous cultural elements, has produced valuable and permanent works for more than two centuries. Most of the important and monumental works were built in Konya. Anatolian Seljuk Art that makes unique; the technique in his works is the difference in material and style. It has gained an important place in Islamic architecture with this feature. In this period, rich embellishment programs emerged with the use of geometrical ornaments, floral motifs and calligraphy belts. In the Anatolian Seljuks, decoration was mainly applied with façade, crown gates, doors, windows, mihrab, mimbar, cover, transition elements and minarets; built with stone, brick and wooden materials. The minarets are located adjacent to the mosques or outside, as a high place that can be reached by stairs, which is made to invite people to worship and to announce this to people. They are architectural elements that have always been important in Islamic architecture with their compositions, construction techniques and ornaments. In different countries where Islam has spread, it has gained different appearances with the influence of local traditions. In the Seljuk art, minarets have become indispensable architectural elements of mosques and masjids. Stone and brick are generally used as a material in the minarets, and in some examples it can be seen that the tile was accompanied by the material. Ornamental motifs are formed by bringing these materials side by side vertically or horizontally. The scope of this study, the decoration details of the minarets built during the Anatolian Seljuk period will be examined. As a study area, samples from various Anatolian cities, especially Konya, were selected. Aim of studying the decoration of the Anatolian Seljuk minaret can shed some light on one of the most important aspects of the Islamic architecture in Anatolia and the development of the minaret in the Islamic World.

Keywords: Anatolian Seljuk, decoration, Islamic architecture, minaret, ornament

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Authors: Ali Mohammadi Bolban Abad, Fariborz Ahmadi

Abstract:

Optimization in manufacture is a method to use limited resources to obtain the best performance and reduce waste. In this paper a new algorithm based on eurygaster life is introduced to obtain a plane in which task order and completion time of resources are defined. Evaluation results show our approach has less make span when the resources are allocated with some products in comparison to genetic algorithm.

Keywords: evolutionary computation, genetic algorithm, particle swarm optimization, NP-Hard problems, production scheduling

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Authors: Mohsen Nouraei, M. Amouei

Abstract:

Islamic studies are considered in both the Quran and Hadith. Hadith is defined as a set of reports that narrated the words, and behaviors, of infallible persons such as the holy Prophet (pbuh) or the Infallible Imams (as). The issue of biodiversity which is the one of the most important environmental aspects is considered in the field of Hadith. The present paper has investigated biodiversity on the basis of descriptive-analytical methods and with the approach of library-documentary. The household of the Prophet (as) have referred biodiversity that were included diversity of animals, plants, climate etc. In addition to, they also have emphasized on the human need to keep diversity and no damage. It should be noted that they have expressed the rights of the animals and plants for correct using of human, so that human can use these rights in conservation of diversity and their generation.

Keywords: biodiversity, conservation of biodiversity, degradation of biodiversity, extinction of biodiversity

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Authors: Alvite Singh Ningthoujam

Abstract:

The most recent terror phenomenon, which is also known as the Islamic State of Iraq and Syria (ISIS), or Islamic State (IS), has its influence felt in South Asia. This dreaded Sunni militant group, today, has become a concern in India as well. Already affected by various terror activities in the country, the influence of the IS on the radicalised Muslim youths in India has been watched closely by the security agencies. There had already been a few IS-related incidents in India due to which this issue has emerged as a threat or challenge to India’s internal security. The rapid radicalisation of youths in a few states where there are sizeable Muslim populations has gone, to some extent, in favour of the IS, particularly in the terror outfit’s recruitment process. What has added to the worry of the Indian security agencies is the announcement of the Al-Qaeda leader, Ayman al-Zawahari, of the creation of the Al-Qaeda in the Indian Subcontinent. In fact, this is a worrisome factor as both the militant groups, that is, al-Qaeda and ISIS, have a similar objective to target India and to turn this South Asian country as one of the recruiting grounds for extremists. There is also a possibility that an Indian Mujahedeen (IM) man was believed to be instrumental in recruiting for the ISIS poor Muslims in a few Indian states. If this nexus between ISIS and India’s home-grown terror groups manages to establish a robust link, then the headache of combating such amalgamated force will be a hard task for Indian security agencies. In the wake of the above developments, this paper would seek to analyse the developing trend in India in regard to IS. It would also bring out the reasons as to why further penetration of the IS influence on India would be a grave concern in the internal security of the country. The last section of the paper would highlight the steps that have been taken by the Indian government to tackle this menace effectively.

Keywords: India, Islamic State, Muslim, Security

Procedia PDF Downloads 350