Search results for: Islamic financial services board (IFSB)

Authors: Sevelina Ndlovu

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Financial Technology (fintech) advancement is recognised as one of the most transformational innovations in the financial industry. Fintech has given rise to internet-only digital banking, a novel financial technology advancement, and innovation that allows banking services through internet applications with no need for physical branches. This technology is becoming a new banking normal among consumers for its ubiquitous and real-time access advantages. There is evident switching and migration from traditional banking towards these fintech facilities, which could possibly pose a systemic risk if not properly understood and monitored. Fintech advancement has also brought about the emergence and escalation of financial technology consumption themes such as trust, security, perceived risk, and sustainability within the banking industry, themes scarcely covered in existing theoretic literature. To that end, the objective of this research is to investigate factors that determine fintech adoption and propose an integrated adoption model. This study aims to establish what the significant drivers of adoption are and develop a conceptual model that integrates technological, behavioral, and environmental constructs by extending the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). It proposes integrating constructs that influence financial consumption themes such as trust, perceived risk, security, financial incentives, micro-investing opportunities, and environmental consciousness to determine the impact of these factors on the adoption and intention to use digital banking apps. The main advantage of this conceptual model is the consolidation of a greater number of predictor variables that can provide a fuller explanation of the consumer's adoption of digital banking Apps. Moderating variables of age, gender, and income are incorporated. To the best of author’s knowledge, this study is the first that extends the UTAUT2 model with this combination of constructs to investigate user’s intention to adopt internet-only digital banking apps in the UK context. By investigating factors that are not included in the existing theories but are highly pertinent to the adoption of internet-only banking services, this research adds to existing knowledge and extends the generalisability of the UTAUT2 in a financial services adoption context. This is something that fills a gap in knowledge, as highlighted to needing further research on UTAUT2 after reviewing the theory in 2016 from its original version of 2003. To achieve the objectives of this study, this research assumes a quantitative research approach to empirically test the hypotheses derived from existing literature and pilot studies to give statistical support to generalise the research findings for further possible applications in theory and practice. This research is explanatory or casual in nature and uses cross-section primary data collected through a survey method. Convenient and purposive sampling using structured self-administered online questionnaires is used for data collection. The proposed model is tested using Structural Equation Modelling (SEM), and the analysis of primary data collected through an online survey is processed using Smart PLS software with a sample size of 386 digital bank users. The results are expected to establish if there are significant relationships between the dependent and independent variables and establish what the most influencing factors are.

Keywords: banking applications, digital banking, financial technology, technology adoption, UTAUT2

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Authors: Olga Bernikova, Oleg Redkin

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Islamic Studies and the Arabic language are indivisible from each other starting from the appearance of Islam and formation of the Classical language. The present paper demonstrates correlation among linguistics and religion in historical perspective with regard to peculiarities of the Arabic language which distinguish it from the other prophetic languages. Islamic Studies and Linguistics are indivisible from each other starting from the invent of Islam and formation of the Classical language. In historical perspective, the Arabic language has been and remains a tool for the expression of Islamic rhetoric being a prophetic language. No other language in the world has preserved its stability for more than 14 centuries. Islam is considered to be one of the most important factors which secure this stability. The analysis and study of the text of Qurʾān are of special importance for those who study Islamic civilization, its role in the destinies of the mankind, its values and virtues. Without understanding of the polyphony of this sacred text, indivisible unity of its form and content it is impossible to understand social developments both in the present and the past. Since the first years of Islam Qurʾān had been in the center of attention of Muslim scholars, and in the center of attention of theologians, historians, philologists, jurists, mathematicians. Only quite recently it has become an object of analysis of the specialists of computer technologies. In Arabic and Islamic studies mediaeval texts i.e. textual documents are considered the main source of information. Hence the analysis of the multiplicity of various texts and finding of interconnections between them help to set scattered fragments of the riddle into a common and eloquent picture of the past, which reflects the state of the society on certain stages of its development. The text of the Qurʾān like any other phenomenon is a multifaceted object that should be studied from different points of view. As a result, this complex study will allow obtaining a three-dimensional image rather than a flat picture alone.

Keywords: Arabic, Islamic studies, linguistics, religion

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Authors: V. Vicente E. Mujica, Gustavo Gonzalez

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The global coverage of broadband multimedia and internet-based services in terrestrial-satellite networks demand particular interests for satellite providers in order to enhance services with low latencies and high signal quality to diverse users. In particular, the delay of on-board processing is an inherent source of latency in a satellite communication that sometimes is discarded for the end-to-end delay of the satellite link. The frame work for this paper includes modelling of an on-orbit satellite payload using an agent model that can reproduce the properties of processing delays. In essence, a comparison of different spatial interpolation methods is carried out to evaluate physical data obtained by an GEO satellite in order to define a discretization function for determining that delay. Furthermore, the performance of the proposed agent and the development of a delay discretization function are together validated by simulating an hybrid satellite and terrestrial network. Simulation results show high accuracy according to the characteristics of initial data points of processing delay for Ku bands.

Keywords: terrestrial-satellite networks, latency, on-orbit satellite payload, simulation

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Authors: Irina Bondarenko, Olga Vandina

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The theory of evolutionary economics is the basis for preparation and application of methods forming the stock market infrastructure development concept. The authors believe that the basis for the process of formation and development of the stock market model infrastructure in Russia is the theory of large systems. This theory considers the financial market infrastructure as a whole on the basis of macroeconomic approach with the further definition of its aims and objectives. Evaluation of the prospects for interaction of securities market institutions will enable identifying the problems associated with the development of this system. The interaction of elements of the stock market infrastructure allows to reduce the costs and time of transactions, thereby freeing up resources of market participants for more efficient operation. Thus, methodology of the transaction analysis allows to determine the financial infrastructure as a set of specialized institutions that form a modern quasi-stable system. The financial infrastructure, based on international standards, should include trading systems, regulatory and supervisory bodies, rating agencies, settlement, clearing and depository organizations. Distribution of financial assets, reducing the magnitude of transaction costs, increased transparency of the market are promising tasks in the solution for questions of services level and quality increase provided by institutions of the securities market financial infrastructure. In order to improve the efficiency of the regulatory system, it is necessary to provide "standards" for all market participants. The development of a clear regulation for the barrier to the stock market entry and exit, provision of conditions for the development and implementation of new laws regulating the activities of participants in the securities market, as well as formulation of proposals aimed at minimizing risks and costs, will enable the achievement of positive results. The latter will be manifested in increasing the level of market participant security and, accordingly, the attractiveness of this market for investors and issuers.

Keywords: institutional infrastructure, financial assets, regulatory system, stock market, transparency of the market

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Authors: Hamza Zafar, Quratulain Rajput

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Salah (نماز ) is one of five pillars of Islam and obligatory for every Muslims. However, due to the lack of Islamic knowledge it might be very difficult for a layperson to perform it correctly. This paper presents an ontology based representation of Islamic rules to perform Salah. The Salah ontology has been built under the guidance of domain expert in light of Quran and Hadith. The ontology consists of basic concepts as well as relationship among concepts and constraints on them. The basic concepts include cleanness, body cover, Salah timing and steps to perform Salah. The SWRL rule language has been used to represent rule to determine whether the Salah performed correctly or it should be repeated. Finally, we evaluate the use of the Salat ontology through user’s example queries using SPARQL queries.

Keywords: prayer, salah, ontology, SPARQL queries, reasoning

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Authors: Hossein Emari, Hossein Vazifehdoust, Hashem Nikoo Maram

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This study aims to develop an original framework of Environmental Consciousness (EC) to explore the positive effect of environmental consciousness on financial performance through the partial mediator - green intellectual capital. A questionnaire survey on the environmental consciousness, intellectual capital, and financial performance of Iran’s manufacturing firms was conducted, and 324 samples were analyzed. This study utilizes structural equation modeling to explore the direct and indirect influences of EC on financial performance. Research results reveal that environmental consciousness had an indirect impact on financial performance through investment in green intellectual capital. It was thus known that green intellectual capital is a mediator of the relationship between environmental consciousness and financial performance. This paper may serve as a reference for firms mapping out future environmental policies and provide an input of various perspectives and arguments into the discipline of green management.

Keywords: environmental consciousness, social responsibility, green intellectual capital, financial performance

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Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Neetesh Saxena, Narendra S. Chaudhari

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Nowadays, SMS is a very popular mobile service and even the poor, illiterate people and those living in rural areas use SMS service very efficiently. Although many mobile operators have already started 3G and 4G services, 2G services are still being used by the people in many countries. In 2G (GSM), only encryption provided is between the MS and the BTS, there is no end-to-end encryption available. Sometimes we all need to send some confidential message to other person containing bank account number, some password, financial details, etc. Normally, a message is sent in plain text only to the recipient and it is not an acceptable standard for transmitting such important and confidential information. Authors propose an end-to-end encryption approach by proposing a terminal for sending/receiving a secure message. An asymmetric key exchange algorithm is used in order to transmit secret shared key securely to the recipient. The proposed approach with terminal device provides authentication, confidentiality, integrity and non-repudiation.

Keywords: AES, DES, Diffie-Hellman, ECDH, A5, SMS

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Authors: Elkington Sibusiso Mnguni

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Although South Africa has made good progress in providing basic water and sanitation services to its citizens, there is still a large section of the population that has no access to these services. This paper reviews the performance of the government’s municipal infrastructure grant programme in providing basic water and sanitation services which are part of the constitutional requirements to the citizens. The method used to gather data and information was a desk top study which sought to review the progress made in rolling out the programme. The successes and challenges were highlighted and possible solutions were identified that can accelerate the elimination of the remaining backlogs and improve the level of service to the citizens. Currently, approximately 6.5 million citizens are without access to basic water services and approximately 10 million are without access to basic sanitation services.

Keywords: grant, municipal infrastructure, sanitation, services, water

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Authors: Isaac Kofi Mensah

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Public sector organizations, ministries, departments and local government agencies are adopting e-government as a means to provide efficient and quality service delivery to citizens. The purpose of this research paper is to examine the extent to which perceived usefulness (PU) of e-government services moderates between perceived ease-of-use (PEOU) of e-government services and intention to use (IU) e-government services in Ghana. A structured research questionnaire instrument was developed and administered to 700 potential respondents in Ghana, of which 693 responded, representing 99% of the questionnaires distributed. The Technology Acceptance Model (TAM) was used as the theoretical framework for the study. The Statistical Package for Social Science (SPSS) was used to capture and analyze the data. The results indicate that even though predictors such as PU and PEOU are main determiners of citizens’ intention to adopt and use e-government services in Ghana, it failed to show that PEOU and IU e-government services in Ghana is significantly moderated by the PU of e-government services. The implication of this finding on theory and practice is further discussed.

Keywords: e-government services, intention to use, moderating role, perceived ease of use, perceived usefulness, Ghana, technology acceptance model

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Authors: Luan Vardari, Dena Arapi-Vardari

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Financial stability is a critical component of economic growth and development, and it has been recognized as a key policy objective in many countries around the world. In the Western Balkans, financial stability has been a key issue in recent years, with a number of challenges facing the region, including high levels of public debt, weak banking systems, and economic volatility. Corporate finance, which refers to the financial management practices of firms, is an important factor that can impact financial stability. This paper aims to investigate corporate finance's impact on financial stability in Western Balkan countries. This study will use a mixed-methods approach to investigate the impact of corporate finance on financial stability in the Western Balkans. The study will begin with a comprehensive review of the existing literature on corporate finance and financial stability, focusing on the Western Balkan region. This will be followed by an empirical analysis of regional corporate finance practices using data from various industries and firms. The analysis will explore the relationship between corporate finance practices and financial stability, taking into account factors such as regulatory frameworks, economic conditions, and firm size. The results of the study are expected to provide insights into the impact of corporate finance on financial stability in the Western Balkans. Specifically, the study will identify the key corporate finance practices that contribute to financial stability in the region, as well as the challenges and obstacles that firms face in implementing effective corporate finance strategies. The study will also provide recommendations for policymakers and firms looking to enhance financial stability and resilience in the region.

Keywords: financial regulation, debt management, investment decisions, dividend policies, economic volatility, banking systems, public debt, prudent financial management, firm size, policy recommendations

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Authors: Rajiv Kumar, Amit Sachan, Arindam Mukherjee

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Government agencies around the world, including India, are incorporating digital technologies and processes into their day-to-day operations to become more efficient. Despite low internet penetration (around 34.8% of total population) in India, Government of India has made some public services mandatory to access online (e.g. passport, tax filing).This is insisting citizens to access mandatory public services online. However, due to digital divide, all citizens do not have equal access to internet. In light of this, it is an interesting topic to explore how citizens are able to access mandatory online public services. It is important to understand how citizens are adopting these mandatory e-government services and how the adoption behavior of these mandatory e-government services is different or similar to adoption behavior of non-mandatory e-government services. The purpose of this research is to investigate the factors that influence adoption of mandatory and non-mandatory e-government services in India. A quantitative technique is employed in this study. A conceptual model has been proposed by integrating the influencing factors to adopt e-government services from previous studies. The proposed conceptual model highlights a comprehensive set of potential factors influencing the adoption of e-government services. The proposed model has been validated by keeping in view the local context of Indian society. Online and paper based survey was administered, collected data was analyzed and results have been discussed. A total of 463 valid responses were received and further the responses were analyzed. The research reveals that the influencing factors to adopt e-government services are not same for both mandatory and non-mandatory e-government services. There are some factors that influence adoption of both mandatory and non-mandatory e-government services but there are some which are relevant for either of mandatory and non-mandatory e-government services. The research findings may help government or concerned agencies in successfully implementing e-government services.

Keywords: adoption, e-government, India, mandatory, non-mandatory

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Authors: Rafael Martins Manzano Silva, Jean-Francois Tremong

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Electrification of railway lines allows to increase speed, power, capacity and energetic efficiency of rolling stocks. However, this process of electrification is complex and costly. An electrification project is not just about design of catenary. It also includes installation of structures around electrification, as substation installation, electrical isolation, signalling, telecommunication and civil engineering structures. France has more than 30,000 km of railways, whose only 53% are electrified. The others 47% of railways use diesel locomotive and represent only 10% of the circulation (tons.km). For this reason, a new type of electrification, less expensive than the usual, is requested to enable the modernization of these railways. One solution could be the use of hybrids trains. This technology opens up new opportunities for less expensive infrastructure development such as the partial electrification of railway lines. In a partially electrified railway, the power supply of theses hybrid trains could be made either by the catenary or by the on-board energy storage system (ESS). Thus, the on-board ESS would feed the energetic needs of the train along the non-electrified zones while in electrified zones, the catenary would feed the train and recharge the on-board ESS. This paper’s objective deals with the technical and economic potential identification of partial electrification of railway lines. This study provides different scenarios of electrification by replacing the most expensive places to electrify using on-board ESS. The target is to reduce the cost of new electrification projects, i.e. reduce the cost of electrification infrastructures while not increasing the cost of rolling stocks. In this study, scenarios are constructed in function of the electrification’s cost of each structure. The electrification’s cost varies considerably because of the installation of catenary support in tunnels, bridges and viaducts is much more expensive than in others zones of the railway. These scenarios will be used to describe the power supply system and to choose between the catenary and the on-board energy storage depending on the position of the train on the railway. To identify the influence of each partial electrification scenario in the sizing of the on-board ESS, a model of the railway line and of the rolling stock is developed for a real case. This real case concerns a railway line located in the south of France. The energy consumption and the power demanded at each point of the line for each power supply (catenary or on-board ESS) are provided at the end of the simulation. Finally, the cost of a partial electrification is obtained by adding the civil engineering costs of the zones to be electrified plus the cost of the on-board ESS. The study of the technical and economic potential ends with the identification of the most economically interesting scenario of electrification.

Keywords: electrification, hybrid, railway, storage

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Authors: Busari Moshood Olanyi

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Good governance remains the expectation of every political party in power, especially in this democratic dispensation of the Nigerian Nation. The need to ensure that the citizenry enjoys the dividends of democracy as often promised during various electioneering campaigns is envisioned to be the motif for different agendas and political slogans by different administrations. Unfortunately, different political agendas towards the security of lives and properties, halting the pillage of the economy by corrupt public officials and creation of employment opportunities for the youths, have a record of setback in the history of political leadership and governance in Nigeria. Therefore, the paper examined the principles of Islamic theocracy in its advocacy for a paradigm shift in the Nigerian political system, with a view to engendering good governance. Islamic political terms such as Shūrā (mutual consultation), ‘Adālah (equality and justice), Khilāfah (succession and stewardship) Majlis ash-Shūrā (consultative forum) and Muḥāsabah (accountability) were espoused as sacrosanct to implementing Islamic theocracy as an alternative system of government in Nigeria. The paper concluded by being flexible on the nomenclature of the suggested political system, considering the multi-religious nature of the country as a political entity. Among other recommendations, infusion of politics into our moral/religious system and not the other way round was considered a good step in the direction of a political paradigm shift for ensuring good governance and guaranteeing its sustainability in Nigeria.

Keywords: Nigerian nation, democracy, good governance, Islamic theocracy, paradigm shift

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Authors: Craig M. Allen

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Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs

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Authors: Sanaz Ahmadzadeh Siyahrood, Arghavan Ebrahimi, Mohammadjavad Mahdavinejad

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Islamic culture was accountable for a plethora of development in astronomy and science in the medieval term, and in geometry likewise. Geometric patterns are reputable in a considerable number of cultures, but in the Islamic culture the patterns have specific features that connect the Islamic faith to mathematics. In Islamic art, three fundamental shapes are generated from the circle shape: triangle, square and hexagon. Originating from their quiddity, each of these geometric shapes has its own specific structure. Even though the geometric patterns were generated from such simple forms as the circle and the square, they can be combined, duplicated, interlaced, and arranged in intricate combinations. So in order to explain geometrical interaction principles between square and equal triangle, in the first definition step, all types of their linear forces individually and in the second step, between them, would be illustrated. In this analysis, some angles will be created from intersection of their directions. All angles are categorized to some groups and the mathematical expressions among them are analyzed. Since the most geometric patterns in Islamic art and architecture are based on the repetition of a single motif, the evaluation results which are obtained from a small portion, is attributable to a large-scale domain while the development of infinitely repeating patterns can represent the unchanging laws. Geometric ornamentation in Islamic art offers the possibility of infinite growth and can accommodate the incorporation of other types of architectural layout as well, so the logic and mathematical relationships which have been obtained from this analysis are applicable in designing some architecture layers and developing the plan design.

Keywords: angle, equal triangle, square, structural hierarchy

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Authors: Ahmed S. Attia

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This paper includes a study of modern sustainable architectural techniques and elements that are originally found in vernacular and traditional architecture, particularly in the Arab region. Courtyards, Wind Catchers, and Mashrabiya, for example, are elements that have been developed in contemporary architecture using modern technology to create sustainable architecture designs. An analytical study of the topic will deal with some examples of the Islamic House in Fatimid Cairo city in Egypt, analyzing its elements and their relationship to the environment, in addition to the examples in southern Egypt (Nubba) of sustainable architecture systems, and traditional houses in Sana'a city, Yemen, using earth resources of mud bricks and other construction materials. In conclusion, a comparative study between traditional and contemporary techniques will be conducted to confirm that it is possible to achieve sustainable architecture through the use of low-technology in buildings in Arab regions.

Keywords: Islamic context, cultural environment, natural environment, Islamic house, low-technology, mud brick, vernacular and traditional architecture

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Authors: Dchieche Amina, Aboulaich Rajae

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Profit and loss sharing suggests an equitable sharing of risks and profits between the parts involved in a financial transaction. Salam is a contract in which advance payment is made for goods to be delivered at a future date. The purpose of this work is to price a new contract for profit and loss sharing based on Salam contract, using Khiyar Al Ghabn which is an agreement of choice in case of misrepresent facts.

Keywords: Islamic finance, shariah compliance, profit and loss sharing, derivatives, risks, hedging, salam contract

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Authors: Joel S. Akintayo, Ramat T. Salman

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The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the influence of audit tenure, audit fee, board independence, and board size on earnings management of DMBs. Explanatory research design was employed in carrying out the study while secondary data were sourced from the annual reports and accounts of all the 15 quoted DMBs in Nigerian Stock Exchange as at December 31, 2015 for a period of 10 years covering from 2006 to 2015. The data obtained for the study were analyzed using panel regression analysis approach. The findings reveal that board independence has a negative significant effect on earnings management at a 5% level of significance (p=0.002), while audit fee has a positive significant effect on earnings management at a 5% level of significance (p=0.013) and audit tenure has a negative significant effect on earnings management of DMBs at a 5% level of significance (p=0.003). Surprisingly, board size was statistically not significant at a 5% level of significance (p=0.086). The study concludes that high audit quality and sound corporate governance could improve the earnings quality of DMBs. Hence, the study recommends that the authorities saddled with the responsibility of banking supervision in Nigeria such the Securities and Exchange Commission (SEC) and CBN to advise the National Assembly in Nigeria to pass into law the three years professional requirement for audit tenure.

Keywords: audit quality, audit tenure, audit fee, board independence, corporate governance, earnings management

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Authors: Dinesh Sivaguru, Kamal Thilakasiri

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Preventing money laundering and terrorist financing is a major national and international problem today. Several attempts have been made to prevent money laundering by national and international dimension. These are often counteracted by the multi dynamic nature of the crimes. However, launders are often to use remittance systems to clean their ill-gotten money. This study presents the role of domestic financial institutions and the effective practices and actions should implement within domestic financial institutions to control and prevent financial crimes. This thesis highlights the progress that is required to prevent money laundering and terrorist financing, further it is an original contribution to the knowledge in an under researched field in Sri Lanka.

Keywords: money laundering, terrorists financing, financial institutions, regulatory bodies

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Authors: Piotr Prewysz-Kwinto, Grazyna Voss

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In June 2013, the European Parliament and the Council adopted a directive on financial reporting (Directive 2013/34/EU). The main objective was to simplify the principles of the preparation of financial statements, including the principles of the presentation and disclosures of financial information by adapting reporting burdens to the type and size of an undertaking. Therefore, the Directive introduced a classification of all undertakings into five groups, i.e. micro, small, medium-sized, large and public-interest entities, and defined in detail the classification criteria. The principles of the preparation of financial statements and the presentation of financial information as well as applicable simplifications were defined for each group. The EU Member States had to implement the provisions of Directive 34 relating to accounting and financial reporting into domestic norms until January 1, 2016. In Poland, the provisions of Directive 34 were implemented into domestic accounting norms specified in the Polish Accounting Act on a gradual basis. On July 11, 2014, the Polish Parliament adopted an amendment to the Act, introducing the Directive's solutions for micro-undertakings and on July 23, 2015, for the remaining undertakings. The aim of this paper is to present Polish solutions relating to financial reporting after the implementation of Directive 34 and the results of the survey conducted among accountants regarding the evaluation of the implemented simplifications for micro and small undertakings.

Keywords: accounting standards, financial reporting, financial statement, simplification

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Authors: Shumaila Zeb

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The proposed study aims to investigate insolvency risk of commercial banks of Pakistan. Furthermore, it empirically estimates the effect of already implemented financial regulations on the insolvency risk of banks. To carry out the empirical analysis, a balanced bank-level panel data covering the period 2008-2016 is used. The Z-score is used for calculating the insolvency risk of each bank. The panel regression is used to investigate the relationship between financial regulations and insolvency risk of banks. The empirics reveal that the financial regulations enforced by State Bank of Pakistan have significant impacts on the insolvency risk of banks. The results further indicate that loan ratio and reserve ratio are positively and significantly related to the insolvency risk of banks.

Keywords: insolvency risk, Z-score, financial regulations, banks

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Authors: Sheba Akhtar

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The profound importance that Islam places on knowledge has directly influenced the architectural development of the mosque throughout the Muslim world. The masjid is the most important religious building type in Islamic society because, as a place of worship and social interaction, it is the center of both spiritual knowledge and secular guidance. The Quran begins with the emphatic injunction, “Iqra”, establishing the central importance of the pursuit of the sacred ilm that is offered to man by Allah. Similarly, numerous hadiths of the Prophet Muhammad emphasize the profound importance of the acquisition and dissemination of knowledge, both spiritual and temporal. The Muslim worshipper must enter the sacred space of the masjid to receive spiritual knowledge, but the transition from the profane realm outside the mosque to that of spirituality within is not merely physical; it is also deeply psychological and emotional. To this end, the architecture of the masjid, from the plan and geometry to the design elements and intricate ornamental details, plays a vital role in creating the environment within which the ritual acts of wudu and salat are enacted to foster the transformative journey, from the mundane reality of this world to the realm of spirituality beyond, in the heart, mind, and soul of the worshipper. It is expected that the paper will provide a better understanding of the ways in which sacred Islamic knowledge has influenced the architectural design of the mosque. The research will draw upon Islamic epistemology, Islamic architecture history, and compositional analysis to demonstrate this philosophical, historical, and formal relationship. In this way, the paper will provide a meaningful bridge between the existing knowledge related to mosque design and the expanding academic discourse about the religious architecture of Islam.

Keywords: Islamic architecture, mosque architecture, religious architecture, sacred architecture

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Authors: Muhajirin Gafar

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In Indonesia, Azan not only used as a reminder or call to prayer, its also used at the birth of a child, as the direction of the Prophet Muhammad PBUH, but also become part of a 'tradition’ to echoed in obsequies or the funeral, even there is a tradition in which the Azan echoed in the four corners of the grave. This tradition has become a necessity and has become part of the local Islamic culture preserved from time to time, although it certainly can not be known legal basis underlying the tradition. Based on the phenomenon, this paper proposed three research objective, namely: 1) To described the history about tradition Azan in funeral, 2) To analyze some of the postulates supporting the occurrence of the tradition, 3) To find out the postulates/ hadist which has been arranged in accordance with the instructions of the Prophet Muhammad PBUH about the rules of funeral. To reconstruct the history of the emergence of events azan tradition in the funeral this research used historical method, while the second and third objective used library research. Data and facts systematically processed and analyzed so as to be able to answer the questions of what, who, where, when, how, and why an event occurred. Finally, this research used Takhrij al-hadith a method to look at the validity of the arguments of the hadith. Result found that tradition of Azan in funeral has been around since the presence of Islam in Indonesia. This tradition continued and became a local Islamic culture which spread almost all over Indonesia, even considered part of religious guidance. While there are no decisive postulates which can be accounted for this tradition, except ‘qiyas’ postulates which are not appropriate. Most Indonesian Muslim put Azan as the first priority to do in funeral while oblivious other compulsory things that must be recited when lay down the corpse. They tend to assume that this tradition is a part of Islamic local culture.

Keywords: Azan, tradition, qiyas, Islamic local, hadist

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Authors: Jenjira Chinnawong, Phusit Phukamchanoad

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The objective of this study is to explore the guidelines for the development of community classroom for research and academic services in Ranong province. By interviewing leaders involved in the development of learning resources, research, and community services, it was found that the leaders' perceptions in the development of learning resources, research, and community services in Ranong, was at the highest level. They perceived at every step on policies of community classroom implementation, research, and community services in Ranong. Leaders' perceptions were at the moderate level in terms of analysis of problems related to procedures of community classroom management, research and community services in Ranong especially in the planning and implementation of the examination, improvement, and development of learning sources to be in good condition and ready to serve the visitors. Their participation in the development of community classroom, research, and community services in Ranong was at a high level, particularly in the participation in monitoring and evaluation of the development of learning resources as well as in reporting on the result of the development of learning resources. The most important thing in the development of community classroom, research and community services in Ranong is the necessity to integrate the three principles of knowledge building in teaching, research and academic services in order to create the identity of the local and community classroom for those who are interested to visit to learn more about the useful knowledge. As a result, community classroom, research, and community services were well-known both inside and outside the university.

Keywords: community classroom, learning resources, development, participation

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Authors: Ying-Hsiu Chen, Pao-Peng Hsu

Abstract:

This paper adopts a two-stage data envelopment analysis to explore the impacts of financial development and bank operational scale on bank efficiencies. The sample comprises of unbalanced panel data of 32 Taiwanese enlisted in domestic commercial banks over the period 1998 to 2013. Empirical results show that technical efficiency is positively related to financial development, whereas the effect of financial development on scale efficiency is insignificant. The effect of operational scale exerts a significantly positive effect on bank efficiencies, but the gain of efficiency is decreased gradually when operational scale increases. Furthermore, increase in capital adequacy ratio and market power of banks leads to a growth of bank efficiencies.

Keywords: financial development, operational scale, efficiency, DEA

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Authors: Jamila Garba Audu, Shehu Usman Hassan

Abstract:

The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. Published accounting information in financial statements is required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The relationship between corporate governance and performance to financial reporting quality is imperative; this is because despite rapid researches in this area the findings obtained from these studies are constantly inconclusive. Data for the study were extracted from the firms’ annual reports and accounts. After running the OLS regression, a robustness test was conducted for the validity of statistical inferences; the data was empirically tested. A multiple regression was employed to test the model as a technique for data analysis. The results from the analysis revealed a negative association between all the regressors and financial reporting quality except the performance of listed manufacturing firms in Nigeria. This indicates that corporate governance plays a significant role in mitigating earnings management and improving financial reporting quality while performance does not. The study recommended among others that the composition of audit committee should be made in accordance with the provision for code of corporate governance which is not more than six (6) members with at least one (1) financial expert.

Keywords: corporate governance, financial reporting quality, manufacturing firms, Nigeria, performance

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Authors: Minase Yitbarek Mengistu, Abrham Melkamu, Dawit Yisfaw, Bisrat Belihu, Abdulhakim Lalega

Abstract:

This research was aimed at reducing and recycling waste paper and sawdust from our environment, thereby reducing environmental pollution resulting from the management/disposal of these waste materials. In this research, some mechanical properties of composite ceiling board materials made from waste paper, sawdust, and pineapple leaf fibers were investigated to determine their suitability for use in low-cost construction work. The ceiling board was obtained from the waste of paper, sawdust chips, and pineapple leaf fibers by manual mechanical bonding techniques using dissolved polystyrene films as a binding agent. The results obtained showed that the water absorption values of between 6 % and 8.1 %; as well as density values of 500 kg/mm3 and 611.1 kg/mm3.From our result, the better one is a ratio of pineapple leaf fiber 25%, sawdust 40%, binder 25%, and waste paper 10%. The composite ceiling boards were successfully nailed with firm grips. These values obtained were compared with those of the conventional ceiling boards and it was observed that these composite materials can be used for internal low-cost construction work and Insulation (acoustic and thermal) performance. It is highly recommended that small and medium enterprises be encouraged to venture into waste recycling and the production of these composite ceiling materials to create jobs for skilled and unskilled labor that are locally available.

Keywords: composite material, environment, textile, ceiling board

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Authors: Maryam Bakhtyar-Pegah Akrami

Abstract:

The relationship between spiritual health and spirituality is one of the important is that in recent years, the research about it is expanding and due to the rich heritage of the in this field of study and research in this important field more than before and we will come to spiritual life and healthier than before. In this research, we provide the following and the basics of Islamic Mysticism in the realm of spiritual health thoughts. This research is based on a descriptive method and comparison with analytical-method to data collected. The findings show that human beings due to this pivotal topic of full Islamic slab, and mental and physical education with the sought to reach the human place are complete, we can provide the basics along with new discussions of spiritual health help human beings to spiritual education along with our faiths in the reconstruction of the spiritual foundations of spiritual health are extremely helpful

Keywords: spirituality, health, Islam, mysticism, perfect human

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Authors: Ibrahim Malik, M. Ikramullah al Kambuna

Abstract:

Today the crisis of understanding in Islamic values has been extended to the architectural design. The majority of Muslim Architects when they designed Islamic Architectural building always stuck in cultural symbols, forms of facade, carvings calligraphy, and all of things which intimately associated with middle eastern culture. As well as the interpretation of symbols form, by designing a dome in every mosque, calligraphy carving in the interior of the mosque, and the other elements in the building which interpreted to the middle east culture. So here there are problems in understanding the meaning of Islam with Kaffah (overall), which appeared a distortion of understanding to distinguish between cultural and theological values in a design. This paper will try to evaluate the design of a contemporary mosque in Indonesia, with case studies in Jogokariyan Mosque Yogyakarta Indonesia. The building evaluation are focused in building function , aesthetic, comfort, and security. And finally from this research should be found the results of the integrated design evaluation of a contemporary mosque which based on the study of the Quran and Hadith.

Keywords: evaluation, islamic concept, mosque, Hadith, Quran

Procedia PDF Downloads 482