Search results for: islamic accounting

Authors: Rafał Szmajser, Katarzyna Świetla, Mariusz Andrzejewski

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Robotic process automation (RPA) is a technology of repeatable business processes performed using computer programs, robots that simulate the work of a human being. This approach assumes replacing an existing employee with the use of dedicated software (software robots) to support activities, primarily repeated and uncomplicated, characterized by a low number of exceptions. RPA application is widespread in modern business services, particularly in the areas of Finance, Accounting and Human Resources Management. By utilizing this technology, the effectiveness of operations increases while reducing workload, minimizing possible errors in the process, and as a result, bringing measurable decrease in the cost of providing services. Regardless of how the use of modern information technology is assessed, there are also some doubts as to whether we should replace human activities in the implementation of the automation in business processes. After the initial awe for the new technological concept, a reflection arises: to what extent does the implementation of RPA increase the efficiency of operations or is there a Business Case for implementing it? If the business case is beneficial, in which business processes is the greatest potential for RPA? A closer look at these issues was provided by in this research during which the respondents’ view of the perceived advantages resulting from the use of robotization and automation in financial and accounting processes was verified. As a result of an online survey addressed to over 500 respondents from international companies, 162 complete answers were returned from the most important types of organizations in the modern business services industry, i.e. Business or IT Process Outsourcing (BPO/ITO), Shared Service Centers (SSC), Consulting/Advisory and their customers. Answers were provided by representatives of the positions in their organizations: Members of the Board, Directors, Managers and Experts/Specialists. The structure of the survey allowed the respondents to supplement the survey with additional comments and observations. The results formed the basis for the creation of a business case calculating tangible benefits associated with the implementation of automation in the selected financial processes. The results of the statistical analyses carried out with regard to revenue growth confirmed the correctness of the hypothesis that there is a correlation between job position and the perception of the impact of RPA implementation on individual benefits. Second hypothesis (H2) that: There is a relationship between the kind of company in the business services industry and the reception of the impact of RPA on individual benefits was thus not confirmed. Based results of survey authors performed simulation of business case for implementation of RPA in selected Finance and Accounting Processes. Calculated payback period was diametrically different ranging from 2 months for the Account Payables process with 75% savings and in the extreme case for the process Taxes implementation and maintenance costs exceed the savings resulting from the use of the robot.

Keywords: automation, outsourcing, business process automation, process automation, robotic process automation, RPA, RPA business case, RPA benefits

Procedia PDF Downloads 136

Authors: Anthony Proschka, Deepak Mishra, Merlyn Ramanan, Zurab Baratashvili

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Small and medium-sized businesses receive over 160 billion invoices every year. Since these documents exhibit many subtle differences in layout and text, extracting structured fields such as sender name, amount, and VAT rate from them automatically is an open research question. In this paper, existing work in template-based document extraction is extended, and a system is devised that is able to reliably extract all required fields for up to 70% of all documents in the data set, more than any other previously reported method. The approaches are described for 1) detecting through visual features which template a given document belongs to, 2) automatically generating extraction rules for a given new template by composing regular expressions from multiple components, and 3) computing confidence scores that indicate the accuracy of the automatic extractions. The system can generate templates with as little as one training sample and only requires the ground truth field values instead of detailed annotations such as bounding boxes that are hard to obtain. The system is deployed and used inside a commercial accounting software.

Keywords: data mining, information retrieval, business, feature extraction, layout, business data processing, document handling, end-user trained information extraction, document archiving, scanned business documents, automated document processing, F1-measure, commercial accounting software

Procedia PDF Downloads 129

Authors: Venus Torabi

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ISIS, the terrorist organization, modified two videogames, ARMA III and Grand Theft Auto 5 (2013) as means of online recruitment and ideological propaganda. The urge to study the mechanism at work, whether it has been successful or not, derives (Digital) Humanities experts to explore how codes of terror, Islamic ideology and recruitment strategies are incorporated into the ludic mechanics of videogames. Another aspect of the significance lies in the fact that this is a latent problem that has not been fully addressed in an interdisciplinary framework prior to this study, to the best of the researcher’s knowledge. Therefore, due to the complexity of the subject, the present paper entangles with game studies, philosophical and religious poles to form the methodology of conducting the research. As a contextualized epistemology of such exploitation of videogames, the core argument is building on the notion of “Culture Industry” proposed by Theodore W. Adorno and Max Horkheimer in Dialectic of Enlightenment (2002). This article posits that the ideological underpinnings of ISIS’s cause corroborated by the action-bound mechanics of the videogames are in line with adhering to the Islamic Eschatology as a furnishing ground and an excuse in exercising terrorism. It is an account of ISIS’s modification of the videogames, a tool of technological progression to practice online radicalization. Dialectically, this practice is packed up in rhetoric for recognizing a religious myth (the advent of a savior), as a hallmark of regression. The study puts forth that ISIS’s wreaking havoc on the world, both in reality and within action videogames, is negotiating the process of self-assertion in the players of such videogames (by assuming one’s self a member of terrorists) that leads to self-annihilation. It tries to unfold how ludic Mod videogames are misused as tools of mass deception towards ethnic cleansing in reality and line with the distorted Eschatological myth. To conclude, this study posits videogames to be a new avenue of mass deception in the framework of the Culture Industry. Yet, this emerges as a two-edged sword of mass deception in ISIS’s modification of videogames. It shows that ISIS is not only trying to hijack the minds through online/ludic recruitment, it potentially deceives the Muslim communities or those prone to radicalization into believing that it's terrorist practices are preparing the world for the advent of a religious savior based on Islamic Eschatology. This is to claim that the harsh actions of the videogames are potentially breeding minds by seeds of terrorist propaganda and numbing them to violence. The real world becomes an extension of that harsh virtual environment in a ludic/actual continuum, the extension that is contributing to the mass deception mechanism of the terrorists, in a clandestine trend.

Keywords: culture industry, dialectic, ISIS, islamic eschatology, mass deception, video games

Procedia PDF Downloads 137

Authors: Satinder Bhatia

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Limited Liability Partnerships (LLPs) was a concept introduced in India in 2009. Ever since then, there has been a fierce growth in the number of organizations registered as LLPs outpacing the number of registrations as private companies. Among other benefits extended to LLPs, the audit being mandated only for LLPs having a turnover of at least Rs 40 lakhs or capital contribution of Rs 25 lakhs, has been a major attraction. This has resulted in only about 10 per cent of LLPs coming under mandatory audit. Even for such companies, the accounting standards to be followed in the preparation of financial statements have not been specified. The Revised Indian Accounting Standards (Revised IndAS) which are aligned with IFRS to a great extent, may apply to LLPs only under limited conditions. Thus, the veracity of even the audited financial statements of LLPs can be questioned. If in future, these LLPs would like to list on a stock exchange to raise capital, there can be serious hurdles if investors do not find the financial statements to be reliable and consistent. LLPs are generally governed by country-specific rules in the area of accounts and audit. Thus, such rules vary across UK, EU and the USA. Some countries have adopted the IFRS for SMEs and since LLPs can be referred to as SMEs; they would come under the ambit of these IFRS provisions. Besides, as the scope of audit widens to cover qualitative information in addition to quantitative data, audit of LLPs has now acquired a new meaning and a new urgency as demands for at least limited purpose audits are arising from different stakeholders including lenders, suppliers, customers and joint venture partners.

Keywords: audit disclosures, audit quality, guidance for SMEs, non-audit services

Procedia PDF Downloads 154

Authors: Achmad Muchadam Fahham, Sony Hendra Permana

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Millennial Muslims are a generation of young people between 20-30 years. They will play an important role in various aspects of life for the next 10 to 20 years. In Indonesia, the population of this generation is quite large and in the next ten to twenty years they will occupy strategic position in various fields of social, economic and political life. One of the characteristics of the millenials generation are always connected to the internet and independence to learn anything from the internet. In terms of religion, the majority of millennial are Muslim. In digital era, the generation of millenial Muslim is vulnerable to the influence of radical Islamic thinking because of their easy access to that thought on social media, new media, and the books they read. This study seeks to examine the religious views of millennial Muslim women in four main focuses, namely religious identity, religious leaders, the role of the state on religious issues, and religious radicalism. This study was conducted with a qualitative approach, the data collection was carried out by the interview method. The study was conducted in Jakarta, mainly in religious study groups located in several mosques and shopping center in Jakarta. This study is expected to portray the religious views of millennial Muslim women, especially their commitment to Islamic identity, their views on the authority of religious leaders, the role of the state in various religious problems, and religious radicalism.

Keywords: millenial Muslims, radicalism, muslim mowen, religious identity

Procedia PDF Downloads 149

Authors: M. Talebzadegan, S. Bina , I. Riazi

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The purpose of this paper is to present an active solar energy system to supply heating demands of the teaching staff dormitory of Islamic Azad University of Ramhormoz. The design takes into account the solar radiations and climate data of Ramhormoz town and is based on the daily warm water consumption for health demands of 450 residents of the dormitory, which is equal to 27000 lit of 50 C° water, and building heating requirements with an area of 3500 m² well-protected by heatproof materials. First, heating demands of the building were calculated, then a hybrid system made up of solar and fossil energies was developed and finally, the design was economically evaluated. Since there is only roof space for using 110 flat solar water heaters, the calculations were made to hybridize solar water heating system with heat pumping system in which solar energy contributes 67% of the heat generated. According to calculations, the Net Present Value “N.P.V.” of revenue stream exceeds “N.P.V.” of cash paid off in this project over three years, which makes economically quite promising. The return of investment and payback period of the project is 4 years. Also, the Internal Rate of Return (IRR) of the project was 25%, which exceeds bank rate of interest in Iran and emphasizes the desirability of the project.

Keywords: solar energy, heat demand, renewable, pollution

Procedia PDF Downloads 418

Authors: Ashgar Ali Ali Mohamed, Farheen Baig Sardar Baig

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In Malaysia, the Whistle-blower Protection Act 2010 provides protection to a person in an organization who exposes misconduct, alleged dishonest or illegal activity that violates the existing laws, among others. For example, alleged fraud, health and safety violations, and corruption, to name but a few. Undeniable, most whistle-blowers are internal to an organisation who report misconduct of a fellow employee or superior within their company and they frequently face reprisal at the hands of the organisation which they have accused. In fact, many people do not consider blowing the whistle because of fear of retaliation and losing their relationships at workplace. Although whistle-blowers are protected under law from employer retaliation, there have been many cases where punishment for whistleblowing has occurred, such as suspension, demotion, termination, or harsh mistreatment by other employees. Hence, this paper will analyse the adequacy of the legal protection available to employees who whistle-blow on their employers with reference to the Whistle-blower Protection Act 2010. Reference will also be made to the approach taken in other selected jurisdiction with a view of highlighting the adequacy of the Malaysian legislation on this subject besides strengthen employee whistle-blower protection. Further, reference is also made to the Islamic approach on this subject with particular reference to the concept of amr-bil-Ma’roof (ordering for acknowledged virtues) and nahi anil munkar (forbidding from sin). Allah (SWT) says: “And there should be a group amongst you who invite towards good, order for acknowledged virtues, forbid from sin and these it is that are the successful ones” (Al Imran(Chp 3), verse 104).

Keywords: whistleblower protection, employee whistleblower, detrimental and reprisal, Malaysian law

Procedia PDF Downloads 550

Authors: Mennani Maha, Attak El Houssain

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Under the massive effect of the Covid-19 health crisis, marked by a loss of competitiveness, a slowdown in growth and an accumulation of the repercussions of socio-economic inequalities, a considerable effort must be combined, in Morocco, to put into perspective macro-political, macro-economic and social opportunities. The development of a new economic and social approach is essential in order to respond to the authenticity of the new development model that will be used by the country. The appropriation of strategies of solidarity and social cohesion constitutes a participatory, competitive and inclusive approach to support the functionalities of the economic, social and political system. Therefore, the search for alternative financial resources has become a necessity to achieve the objectives of sustainable socio-economic growth on the one hand; and to promote, on the other hands, the dynamics, of large scale, social investments. The zakat remains a site of the Islamic economy dedicated to stimulating the bases of a collective adhesion of the population on the economic, as well as on the social level, thanks to a fair and equitable distribution of the zakat funds. However, Morocco is one of the few Muslim countries that has not yet had an institution for collecting and distributing this Islamic duty, which makes it difficult to measure the socio-economic impact of zakat. This theoretical document essentially ensures the development of the crucial utility of institutionalizing zakat in order to reinforce the objectives of social solidarity in Morocco in line with the process of conceptualizing a new development model.

Keywords: zakat, socio-economic development, solidarity, social investment

Procedia PDF Downloads 138

Authors: Peyman Soltani, Mohammad Sadegh Amin Din

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The relation between religion and education has been considered for a long time. Approaching education through religion and sovereignty has been a kind of idealism in past centuries` educational systems and no opposition between religion and education has been felt. The doctrine of human education and training is mentioned in the Qur’an, as the most important reason of Prophet Mohammad ` first revelation, Verse 129 of Chapter Baqara, Verse 164 of Chapter Aali-ʻimraan and verse 2 of Chapter Jumʻah have addressed this issue. During Middle age, temples and mosques were engaged in children education. Religious materials have played an important role in the content of educational courses. In this era, the main goal of education was to study the religious books and behaving in society accordingly. Also in this training period, the European countries were considerably influenced by religion. Children in these countries were trained in churches and monasteries. Training and religion are closely connected with each other. It should be noted that experience and religious knowledge is a heart and emotional issue with no-imposition, therefore, the educational space should be designed in such a way that students, themselves, shift to experiencing some religious feelings. The important factors in Islamic Educational system are as follow: - Religious-based - Strengthening national identity - Authenticity of learner role 4- Importance of teacher` authority role. These factors are explained in Conceptual and intertwined network and in practical process, training each of them, proportional to student needs and conditions, can be the beginning of a course of religious education for students, and can strengthen other elements.

Keywords: education and training, Islamic educational system, the Qur'an, religious knowledge

Procedia PDF Downloads 391

Authors: Junqi Zou

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As one of the world’s most tech-ready countries, Singapore has initiated the Smart Nation plan to harness the full power and potential of digital technologies to transform the way people live and work, through the more efficient government and business processes, to make the economy more productive. The key evolutions of digital technology transformation in healthcare and the increasing deployment of Internet of Things (IoTs), Big Data, AI/cognitive, Robotic Process Automation (RPA), Electronic Health Record Systems (EHR), Electronic Medical Record Systems (EMR), Warehouse Management System (WMS in the most recent decade have significantly stepped up the move towards an information-driven healthcare ecosystem. The advances in information technology not only bring benefits to patients but also act as a key force in changing management accounting in healthcare sector. The aim of this study is to investigate the impacts of digital technology transformation on Singapore’s healthcare sector from a management accounting perspective. Adopting a Balanced Scorecard (BSC) analysis approach, this paper conducted an exploratory case study of a newly launched Singapore public hospital, which has been recognized as amongst the most digitally advanced healthcare facilities in Asia-Pacific region. Specifically, this study gains insights on how the new technology is changing healthcare organizations’ management accounting from four perspectives under the Balanced Scorecard approach, 1) Financial Perspective, 2) Customer (Patient) Perspective, 3) Internal Processes Perspective, and 4) Learning and Growth Perspective. Based on a thorough review of archival records from the government and public, and the interview reports with the hospital’s CIO, this study finds the improvements from all the four perspectives under the Balanced Scorecard framework as follows: 1) Learning and Growth Perspective: The Government (Ministry of Health) works with the hospital to open up multiple training pathways to health professionals that upgrade and develops new IT skills among the healthcare workforce to support the transformation of healthcare services. 2) Internal Process Perspective: The hospital achieved digital transformation through Project OneCare to integrate clinical, operational, and administrative information systems (e.g., EHR, EMR, WMS, EPIB, RTLS) that enable the seamless flow of data and the implementation of JIT system to help the hospital operate more effectively and efficiently. 3) Customer Perspective: The fully integrated EMR suite enhances the patient’s experiences by achieving the 5 Rights (Right Patient, Right Data, Right Device, Right Entry and Right Time). 4) Financial Perspective: Cost savings are achieved from improved inventory management and effective supply chain management. The use of process automation also results in a reduction of manpower costs and logistics cost. To summarize, these improvements identified under the Balanced Scorecard framework confirm the success of utilizing the integration of advanced ICT to enhance healthcare organization’s customer service, productivity efficiency, and cost savings. Moreover, the Big Data generated from this integrated EMR system can be particularly useful in aiding management control system to optimize decision making and strategic planning. To conclude, the new digital technology transformation has moved the usefulness of management accounting to both financial and non-financial dimensions with new heights in the area of healthcare management.

Keywords: balanced scorecard, digital technology transformation, healthcare ecosystem, integrated information system

Procedia PDF Downloads 161

Authors: Megha Agarwal

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The research paper is an effort to compare the earnings based and cash flow based methods of valuation of an enterprise. The theoretically equivalent methods based on either earnings such as Residual Earnings Model (REM), Abnormal Earnings Growth Model (AEGM), Residual Operating Income Method (ReOIM), Abnormal Operating Income Growth Model (AOIGM) and its extensions multipliers such as price/earnings ratio, price/book value ratio; or cash flow based models such as Dividend Valuation Method (DVM) and Free Cash Flow Method (FCFM) all provide different estimates of valuation of the Indian giant corporate Reliance India Limited (RIL). An ex-post analysis of published accounting and financial data for four financial years from 2008-09 to 2011-12 has been conducted. A comparison of these valuation estimates with the actual market capitalization of the company shows that the complex accounting based model AOIGM provides closest forecasts. These different estimates may be derived due to inconsistencies in discount rate, growth rates and the other forecasted variables. Although inputs for earnings based models may be available to the investor and analysts through published statements, precise estimation of free cash flows may be better undertaken by the internal management. The estimation of value from more stable parameters as residual operating income and RNOA could be considered superior to the valuations from more volatile return on equity.

Keywords: earnings, cash flows, valuation, Residual Earnings Model (REM)

Procedia PDF Downloads 375

Authors: Maria Krambia-Kapardis, Andreas Kapardis

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The paper discusses regulatory and legislative measures implemented by various nations in an effort to avert another financial crisis. More specifically, to address the financial crisis, the European Commission followed the practice of other developed countries and implemented a European Economic Recovery Plan in an attempt to overhaul the regulatory and supervisory framework of the financial sector. In 2010 the Commission introduced the European Systemic Risk Board and in 2011 the European System of Financial Supervision. Some experts advocated that the type and extent of financial regulation introduced in the European crisis in the wake of the 2008 crisis has been excessive and counterproductive. In considering how different countries responded to the financial crisis, global regulators have shown a more focused commitment to combat industry misconduct and to pre-empt abusive behavior. Regulators have also increased funding and resources at their disposal; have increased regulatory fines, with an increasing trend towards action against individuals; and, finally, have focused on market abuse and market conduct issues. Financial regulation can be effected, first of all, through legislation. However, neither ex ante or ex post regulation is by itself effective in reducing systemic risk. Consequently, to avert a financial crisis, in their endeavor to achieve both economic efficiency and financial stability, governments need to balance the two approaches to financial regulation. Fiduciary duty is another means by which the behavior of actors in the financial world is constrained and, thus, regulated. Furthermore, fiduciary duties extend over and above other existing requirements set out by statute and/or common law and cover allegations of breach of fiduciary duty, negligence or fraud. Careful analysis of the etiology of the 2008 financial crisis demonstrates the great importance of corporate governance as a way of regulating boardroom behavior. In addition, the regulation of professions including accountants and auditors plays a crucial role as far as the financial management of companies is concerned. In the US, the Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board in order to protect investors from financial accounting fraud. In most countries around the world, however, accounting regulation consists of a legal framework, international standards, education, and licensure. Accounting regulation is necessary because of the information asymmetry and the conflict of interest that exists between managers and users of financial information. If a holistic approach is to be taken then one cannot ignore the regulation of legislators themselves which can take the form of hard or soft legislation. The science of averting a financial crisis is yet to be perfected and this, as shown by the preceding discussion, is unlikely to be achieved in the foreseeable future as ‘disaster myopia’ may be reduced but will not be eliminated. It is easier, of course, to be wise in hindsight and regulating unreasonably risky decisions and unethical or outright criminal behavior in the financial world remains major challenges for governments, corporations, and professions alike.

Keywords: financial crisis, legislation, regulation, financial regulation

Procedia PDF Downloads 398

Authors: Nurul Yusnita

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Many studies have been developed to help the students to get good achievement in English learning. They can be from the teaching method or psychological ones. One of the psychological studies in educational research is learning style. In some ways, learning style can affect the achievement of the students. This study aimed to examine 4 (four) learning styles and their relations to English achievement among the students learning English in Language Training Center of Universitas Muhammadiyah Yogyakarta (LTC UMY). The method of this study was descriptive analytical. The sample consisted of 39 Accounting students in LTC UMY. The data was collected through questionnaires with Likert-scale. The achievement was obtained from the grade of the students. To analyze the questionnaires and to see the relation between the learning styles and the student achievement, SPSS statistical software of correlational analysis was used. The result showed that both visual and auditory had the same percentage of 35.9% (14 students). 3 students (7.7%) had kinaesthetic learning style and 8 students (20.5%) had visual and auditory ones. Meanwhile, there were 5 students (12.8%) who had visual learning style could increase their grades. Only 1 student (2.5%) who had visual and auditory could improve his grade. Besides grade increase, there were also grade decrease. Students with visual, auditory, visual and auditory, and kinaesthetic learning styles were 3 students (7.7%), 5 students (12%), 4 students (10.2%) and 1 student (2.5%) respectively. In conclusion, there was no significant relationship between learning style and English achievement. Most of the good achievers were the students with visual and auditory learning styles and most of them preferred visual method. The implication is the teachers and material designers could improve their method through visual things to achieve effective English teaching learning.

Keywords: accounting students, English achievement, language training centre, learning styles

Procedia PDF Downloads 269

Authors: Eman Muhammad Rashwan

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The identity of the state in many Middle East countries today, between secularity and religiousness, is an important and controversial question. Specially after the sweeping repels in number of countries that put Islamic parties in power. In this paper two role model states in this respect, are under examination to answer the question of how their identity that was expressed in their constitutions influenced the allocation of power between different state authorities. In the beginning both the criteria used to define the two concepts of secularity and religiousness, and the reason why these two states are particularly chosen for comparison, are explained. The situation in Turkey is firstly indicated. The constitutional system shows that power is divided between parliament, cabinet and the president. The first two authorities have the most significant powers, and generally, the system in Turkey is similar to many other secular states in the world. But when the research moves to the system in Iran, the importance of comparison starts to appear. In this section, the nature of Islamic Shi’a of Iran Republic is discussed, and also its influence on the main and unique authorities of this religious state, which don`t only include the president and council of ministers, but also The Supreme Leader and The Council of Guardians. This paper doesn`t aim to favor a one system over another, and doesn`t discuss the influences of the two systems on the social or economic situation in the two model states. The aim of this paper is to study the influence of excluding, and applying religion in respect to allocation of power in constitutions.

Keywords: comparative law, constitutional systems, secular states, religious states

Procedia PDF Downloads 427

Authors: Abdul Rahman Chamseddine

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The Companions of the Prophet Muhammad, the Sahaba, are regarded as the first link between him and later believers who did not know him or learn from him directly. This makes the Sahaba a link in the chain between God and the ummah (community). Apart from their role in spreading the Prophet’s teachings, they came to be regarded as role models, representing the Islamic ideal of life as prescribed by the Prophet himself. According to Hadith, the Prophet had promised some Sahaba unqualified admission to paradise. It is commonly agreed that the Sahaba have the following attributes in common: God is well pleased with them; they will surely go to paradise; they are perfectly trustworthy; and they are the authorities from whom Muslims can learn all matters related to their religion. No other generation of Muslims has received the attention received by the Companions of the Prophet. In spite of the importance of the Sahaba in Islam, we still know comparatively little about them. There are at least two reasons for this. First, there is the overall scarcity of information surviving from the early period. At the death of the Prophet, it is said, there were more than 100,000 Companions. As we shall see, this is a complex issue, involving the definition of the term Sahaba. However, only few Companions of the Prophet are known to us. Ibn Hajar al-‘Asqalani, who wrote in the fifteenth century A.D., was only able to collect facts about 11,000 of them (including those whose status as Sahaba was disputed). Ibn Sa‘d, Ibn ‘Abd al-Barr and Ibn al-Athir, all of whom lived earlier than Ibn Hajar, included in their respective works fewer lives of Sahaba than he did. If we consider Ibn Hajar’s Isaba as the most complete biographical account of the Sahaba that remains available, we have information, presumably, on approximately one tenth of them. The remaining nine tenths are apparently lost from the historical record. Second, discussion of the Sahaba tends to focus on those considered the most important among them such as ‘Uthman, ‘Ali and Mu‘awiya, while others, who together number in the thousands, are less well-known. This paper will try to study the origins of the term Sahaba that became exclusive to the Companions of the Prophet and not a synonym of the word companions in general.

Keywords: companions, Hadith, Islamic history, Muhammad, Sahaba, transmission

Procedia PDF Downloads 412

Authors: M. Talebzadegan, S. Bina, I. Riazi

Abstract:

The purpose of this paper is to present an active solar energy system to supply heating demands of the teaching staff dormitory of the Islamic Azad University of Ramhormoz. The design takes into account the solar radiations and climate data of Ramhormoz town and is based on the daily warm water consumption for health demands of 450 residents of the dormitory, which is equal to 27000 lit of 50-C° water, and building heating requirements with an area of 3500 m² well-protected by heatproof materials. First, heating demands of the building were calculated, then a hybrid system made up of solar and fossil energies was developed and finally, the design was economically evaluated. Since there is only roof space for using 110 flat solar water heaters, the calculations were made to hybridize solar water heating system with heat pumping system in which solar energy contributes 67% of the heat generated. According to calculations, the net present value “N.P.V.” of revenue stream exceeds “N.P.V.” of cash paid off in this project over three years, which makes economically quite promising. The return of investment and payback period of the project is 4 years. Also, the internal rate of return (IRR) of the project was 25%, which exceeds bank rate of interest in Iran and emphasizes the desirability of the project.

Keywords: Solar energy, Heat Demand, Renewable , Pollution

Procedia PDF Downloads 250

Authors: Randa Ismail Sharafeddine

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The Islamic economic system is distinctive in that it implicitly recognizes money as a separate, independent component of production capable of assuming risk and so entitled to the same reward as other Entrepreneurial Factors of Production (EFP). Conventional theory does not identify money capital explicitly as a component of production; rather, interest is recognized as a reward for capital, the interest rate is the cost of money capital, and it is also seen as a cost of physical capital. The conventional theory of production examines how diverse non-entrepreneurial resources (Land, Labor, and Capital) are selected; however, the economic theory community is largely unaware of the reasons why these resources choose to remain as non-entrepreneurial resources as opposed to becoming entrepreneurial resources. Should land, labor, and financial asset owners choose to work for others in return for rent, income, or interest, or should they engage in entrepreneurial risk-taking in order to profit. This is a decision made often in the actual world, but it has never been effectively treated in economic theory. This article will conduct a critical analysis of the conventional classification of factors of production and propose a classification for resource allocation and income distribution (Rent, Wages, Interest, and Profits) that is more rational, even within the conventional theoretical framework for evaluating and developing production and distribution theories. Money is an essential component of production in an Islamic economy, and it must be used to sustain economic activity.

Keywords: financial capital, production theory, distribution theory, economic activity, riba avoidance, institution of participation

Procedia PDF Downloads 90

Authors: Muhammad Khubaib

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The Holy Quran purport is to establish a democratic system in which Allah has the right to special authority and He who has the supreme power or sovereignty. The supreme leader, Allah ceded the right to govern to his prophet and whoever would ever rule he would have to govern as a deputy of Prophet of Allah and he will not have the right to deviate from the basic rules of law and constitution. Centuries before the birth of prevailing democracy, Muslim scholars and researchers continuously keep using the term of “Jamhür” (majority) in their books. Islam gives the basic importance to the public opinion to establish a government and make the public confidence necessary for the government. The most effective way to gain the trust of the people in the present to build national institutions is through the vote. Vote testifies in favor of the candidate and majority tells us who is more honest and talented. Each voter stands at the position of trustworthy. To vote a cruel person would be tantamount to treason and even not to vote would be considered as a national offence. After transparent process, the selected member of government would be seemed a fine example of the saying of Muhammad (S.A.W) in which he said; the majority of my people will never be agreed at misleading. In short in this article, there would be discussed democracy in the Islamic perception, while elaborating the western democracy so that it can be cleared that in which way the Holy Quran supported the democracy and what gestures Muhammad (S.A.W) made to spread the democracy and on the basis of those gestures, and how come those gestures are being followed to choose the sacred caliphate. It's hoped that this research would be helpful to refine the democratic system and support to meet the challenges Muslim world are facing.

Keywords: democracy, modern democratic system, respect of majority opinion, vote casting

Procedia PDF Downloads 193

Authors: Mustaffa Kamal Bashar Mohd Fauzi, Puteri Shireen Jahn Kassim, Nurul Syala Abdul Latip

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It is increasingly realized that sustainability includes both a response to the climatic and cultural context of a place. To assess the cultural context, a morphological analysis of urban patterns from heritage legacies is necessary. While the climatic form is derived from an analysis of meteorological data, cultural patterns and forms must be abstracted from a typological and morphological study. This current study aims to analyzes morphological and formal elements of water-based architectural and urban design of past Islamic vernacular complexes in the hot arid regions and how a vast utilization of water was shaped and sited to act as cooling devices for an entire complex. Apart from its pleasant coolness, water can be used in an aesthetically way such as emphasizing visual axes, vividly enhancing the visual of the surrounding environment and symbolically portraying the act of purity in the design. By comparing 2 case studies based on the analysis of interactions of water features into the form, planning and morphology of 2 Islamic heritage complexes, Fatehpur Sikri (India) and Lahore Fort (Pakistan) with a focus on Shish Mahal of Lahore Fort in terms of their mass, architecture and urban planning, it is agreeable that water plays an integral role in their climatic amelioration via different methods of water conveyance system. Both sites are known for their substantial historical values and prominent for their sustainable vernacular buildings for example; the courtyard of Shish Mahal in Lahore fort are designed to provide continuous coolness by constructing various miniatures water channels that run underneath the paved courtyard. One of the most remarkable features of this system that all water is made dregs-free before it was inducted into these underneath channels. In Fatehpur Sikri, the method of conveyance seems differed from Lahore Fort as the need to supply water to the ridge where Fatehpur Sikri situated is become the major challenges. Thus, the achievement of supplying water to the palatial complexes is solved by placing inhabitable water buildings within the two supply system for raising water. The process of raising the water can be either mechanical or laborious inside the enclosed well and water rising houses. The studies analyzes and abstract the water supply forms, patterns and flows in 3-dimensional shapes through the actions of evaporative cooling and wind-induced ventilation under arid climates. Through the abstraction analytical and descriptive relational morphology of the spatial configurations, the studies can suggest the idealized spatial system that can be used in urban design and complexes which later became a methodological and abstraction tool of sustainability to suit the modern contemporary world.

Keywords: heritage site, Islamic vernacular architecture, water features, morphology, urban design

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Authors: Miyoko Taniguchi

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Conflict and violence have prevailed over the last four decades in conflict-affected areas in Muslim Mindanao, despite the signing of several peace agreements between the Philippine government and Islamic separatist insurgents (the Moro National Liberation Front (MNLF) and the Moro Islamic Liberation Front (MILF)), and peacebuilding activities on the ground. In the meantime, the peace talks had been facilitated and mediated by international actors such as the Organization of Islamic Cooperation (OIC) and its member countries such as Indonesia, and Malaysia, and Japan. In 2014, both the Government of the Philippines (GPH) and the MILF finally reached a Comprehensive Peace Agreement (CAB) in 2014 under the Aquino III administration, though a Bangsamoro Basic Law (BBL) based on the CAB was not enacted at the Catholic-majority of the Philippine Congress. After a long process of deliberations at the Congress, Republic Act 11054, known as the Bangsamoro Organic Law (BOL), was enacted in 2018 under the Duterate administration. In the beginning, President Duterte adopted an 'inclusive approach' that involves the MILF, all factions of the MNLF, non-Islamized indigenous peoples, and other influential clan leaders to align all peace processes under a single Bangsamoro peace process. A notable difference from past administrations, there is an explicit recognition of all agreements and legislations based on the rights of each stakeholder. This created a new identity as 'Bangsamoro', the residents of Muslim Mindanao, enhancing political legitimacy. Besides, it should be noted an important role of 'insider mediators' -a platform for the Bangsamoro from diverse sectors attempting to work within their respective organizations in Moro society. Give the above background, this paper aims at probing the effectiveness of insider mediation as one of the alternative approaches for mediation in the peace process. For the objectives, this research uses qualitative methods such as process-tracing and semi-structured interviews from diverse groups of stakeholders at from the state to the regional level, including the government officials involved in peace process under the Presidential Office, rebels (MILF and MNLF), civil society organizations involved in lobbying and facilitating peace process, especially in the legislative process. The key outcomes and findings are that the Insider Mediators Group, formed in 2016, had taken on a significant role in facilitating the achievement of a wider consensus among stakeholders on major Moro issues such as BBL’s passing during the last administration to call for unity among the Bangsamoro. Most of its members are well-educated professionals affiliated with the MILF, the MNLF, and influential clans. One of the group’s biggest achievements has been the lobbying and provision of legal advice to legislators who were not necessarily knowledgeable about the peace process during the deliberation of the bicameral conference of the BBL, which eventually led to its passage. It can be concluded that in the long run, strengthening vertical and horizontal relations between the Moro society and the State and among the Moro peoples that can be viewed as a means to sustainable peace.

Keywords: insider mediation, Mindanao, peace process, Moro Islamic liberation front

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Authors: Hassan Sher

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God has made this world with all of his essences and beautified it with his countless blessings. In Islam, no doubt, beauty is a very important characteristic but also an aspect of the body and the heart. In a world where the standards of beauty seem to change from year to year according to trends and norms. Moreover, in this world, many people want to look good and feel satisfied and will be willing to go through many ways for their ideal look. likewise, several products came into use for beautifying, cleansing, and promoting attractiveness. These products include components of cosmetics, they are utilized for health and beauty purposes. There are concerns regarding the existence of harmful or ḥarām chemicals, but With the advancement in (technology), it results in the transformation of unlawful and forbidden cosmetic products into permissible several new ingredients and products. The process of transforming certain items or products from one form to another, Muslim jurists tend to use terms like Istiḥālah (transformation).Istiḥālah is an Islamic principle unknown to many Muslims. LinguisticallyIstiḥālah carries the meaning of a transformation or a change in the nature of a thing into something else.According to the religious contact, Istiḥālah signifies a turning of a matter from a state of impurity or inedibility into a matter of different nature, name, properties, and characteristics (colour, taste, and smell) (Zuhayli, 1997). This principle, which is unanimously accepted by Muslim scholars, are breaths of fresh air to Muslims suffering from the suffocation of excessive prohibition. This will allow the invention to be utilized fully. This research tends to highlight the different ideological concepts of Istiḥālah from the perspective of Islamic Shariah and jurisprudence and its application in cosmetic products. However, the study focuses on the issues related to alcohol and pig ingredients in beauty products.

Keywords: istiḥālah. harām, jurisprudence, cosmetic, pig

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Authors: Gianni Jacucci

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Alfred Schutz (1932), at the very turning towards phenomenology, of the attention for the social sciences, stated that successful communication of meanings requires the sharing of “sedimenta-tions “ of previous meanings. Börje Langefors (1966), at the very beginning of the social studies of information systems, stated that a common professional basis is required for a correct sharing of meanings, e. g., “standardised accounting data among accountants”. Harold Garfinkel (1967), at the very beginning of ethnomethodology, stated that the accounting of social events must be carried out in the same language used by the actors of those events in managing their practice. Community of practice: we advocate professional descriptions of the community of practice members to scientifically determine the level of child psycho social emotional development. Our approach consists of an application to Human Sciences of Husserl’s Phenomenological Philosophy using a method reminder of Giorgi’s DPM in Psychology. Husserl’s requirement of "Epoché," which involves eliminating prejudices from the minds of observers, is met through "concept cleaning," achieved by consistently sharing disciplinary concepts within their community of practice. Mean-while, the absence of subjective bias is ensured by the meticulous attention to detail in their professional expertise. Our approach shows promise in accurately assessing many other properties through detailed professional descriptions of the community of practice members.

Keywords: scientific rigour, descriptive phenomenological method, sedimentation of meanings, community of practice

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Authors: Onur Kaya, Ilknur Tukenmez

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In this study, we consider vehicle routing problems on networks with alternative direct links between nodes, and we analyze a multi-objective problem considering the financial, environmental and social objectives in this context. In real life, there might exist several alternative direct roads between two nodes, and these roads might have differences in terms of their lengths and durations. For example, a road might be shorter than another but might require longer time due to traffic and speed limits. Similarly, some toll roads might be shorter or faster but require additional payment, leading to higher costs. We consider such alternative links in our problem and develop a mixed integer linear programming model that determines which alternative link to use between two nodes, in addition to determining the optimal routes for different vehicles, depending on the model objectives and constraints. We consider the minimum cost routing as the financial objective for the company, minimizing the CO2 emissions and gas usage as the environmental objectives, and optimizing the driver working conditions/working hours, and minimizing the risks of accidents as the social objectives. With these objective functions, we aim to determine which routes, and which alternative links should be used in addition to the speed choices on each link. We discuss the results of the developed vehicle routing models and compare their results depending on the system parameters.

Keywords: vehicle routing, alternative links between nodes, mixed integer linear programming, triple bottom line accounting

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Authors: Zeeshan Khan, Faisal Nouroz, Shumaila Noureen

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European or common rabbit (Oryctolagus cuniculus) belongs to class Mammalia, order Lagomorpha of family Leporidae. They are distributed worldwide and are native to Europe (France, Spain and Portugal) and Africa (Morocco and Algeria). LTR retrotransposons are major Class I mobile genetic elements of eukaryotic genomes and play a crucial role in genome expansion, evolution and diversification. They were mostly annotated in various genomes by conventional approaches of homology searches, which restricted the annotation of novel elements. Present work involved de novo identification of LTR retrotransposons by LTR_FINDER in haploid genome of rabbit (2247.74 Mb) distributed in 22 chromosomes, of which 7,933 putative full-length or partial copies were identified containing 69.38 Mb of elements, accounting 3.08% of the genome. Highest copy numbers (731) were found on chromosome 7, followed by chromosome 12 (705), while the lowest copy numbers (27) were detected in chromosome 19 with no elements identified from chromosome 21 due to partially sequenced chromosome, unidentified nucleotides (N) and repeated simple sequence repeats (SSRs). The identified elements ranged in sizes from 1.2 - 25.8 Kb with average sizes between 2-10 Kb. Highest percentage (4.77%) of elements was found in chromosome 15, while lowest (0.55%) in chromosome 19. The most frequent tRNA type was Arginine present in majority of the elements. Based on gained results, it was estimated that rabbit exhibits 15,866 copies having 137.73 Mb of elements accounting 6.16% of diploid genome (44 chromosomes). Further molecular analyses will be helpful in chromosomal localization and distribution of these elements on chromosomes.

Keywords: rabbit, LTR retrotransposons, genome, chromosome

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Authors: Chiang-Lead Woo

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In reply to serious environmental problems, the Taiwan government quickly adjusted some articles to suit the needs of environmental protection recently, such as the amendment to article 190-1 of the Taiwan Criminal Code. The transfer of legislation comes as an improvement which canceled the limitation of ‘endangering public safety’. At the same time, the article 190-1 goes from accumulative concrete offense to abstract crime of danger. Thus, the public looks forward to whether environmental crime following the imposition of fines or penalties works efficiently in anti-pollution by the deterrent effects. However, according to the addition to article 38-2 of the Taiwan Criminal Code, the confiscation system seems controversial legislation to restrain ill-gotten gains. Most prior studies focused on comparisons with the Administrative Penalty Law and the Criminal Code in environmental issue in Taiwan; recently, more and more studies emphasize calculations on ill-gotten gains. Hence, this paper try to examine the deterrent effect in environmental crime by economic analysis of law and environmental economics perspective. This analysis shows that only if there is an extremely high probability (equal to 100 percent) of an environmental crime case being prosecuted criminally by Taiwan Environmental Protection Agency, the deterrent effects will work. Therefore, this paper suggests deliberating the confiscation system from supplementing the System of Environmental and Economic Accounting, reasonable deterrent fines, input management, real-time system for detection of pollution, and whistleblower system, environmental education, and modernization of law.

Keywords: confiscation, ecosystem services, environmental crime, ill-gotten gains, the deterrent effect, the system of environmental and economic accounting

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Authors: Ali Riza Perçin, Eser Bingül

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Internet technologies have created opportunities with which people share their ideologies, thoughts and products. This virtual world, named social media has given the chance of gathering individual users and people from the world's remote locations and establishing an interaction between them. However, to an increasingly higher degree terrorist organizations today use the internet and most notably social-network media to create the effects they desire through a series of on-line activities. These activities, designed to support their activities, include information collection (intelligence), target selection, propaganda, fundraising and recruitment to name a few. Meanwhile, these have been used as the most important tool for recruitment especially from the different region of the world, especially disenfranchised youth, in the West in order to mobilize support and recruit “foreign fighters.” The recruits have obtained the statue, which is not accessible in their society and have preferred the style of life that is offered by the terrorist organizations instead of their current life. Like other terrorist groups, for a while now the terrorist organization Islamic State (IS) in Iraq and Syria has employed a social-media strategy in order to advance their strategic objectives. At the moment, however, IS seems to be more successful in their on-line activities than other similar organizations. IS uses social media strategically as part of its armed activities and for the sustainability of their military presence in Syria and Iraq. In this context, “Generation Y”, which could exist at the critical position and undertake active role, has been examined. Additionally, the explained characteristics of “Generation Y” have been put forward and the duties of families and society have been stated as well.

Keywords: social media, "generation Y", terrorist organization, islamic state IS

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Authors: Fatin Fadhilah Hasib, Dewi Nuraini, Nisful Laila, Muhammad Madyan

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A big political event such as Cabinet reshuffle mostly can affect the stock price positively or negatively, depend on the perception of each investor and potential investor. This study aims to analyze the movement of the market and trading activities which respect to an event using event study method. This method is used to measure the movement of the stock exchange in which abnormal return can be obtained by investor related to the event. This study examines the differences of reaction on abnormal return and trading volume activity from the companies listed in the Jakarta Islamic Index (JII), before and after the announcement of the Cabinet Work Volume II on 27 July 2016. The study was conducted in observation of 21 days in total which consists of 10 days before the event and 10 days after the event. The method used in this study is event study with market adjusted model method that observes market reaction to the information of an announcement or publicity events. The Results from the study showed that there is no significant negative nor positive reaction at the abnormal return and abnormal trading before and after the announcement of the cabinet reshuffle. It is indicated by the results of statistical tests whose value not exceeds the level of significance. Stock exchange of the JII just reflects from the previous stock prices without reflecting the information regarding to the Cabinet reshuffle event. It can be concluded that the capital market is efficient with a weak form.

Keywords: abnormal return, abnormal trading volume activity, event study, political event

Procedia PDF Downloads 291

Authors: Damilohun D. Ayoyo, Anthony Mpiani, Temitope B. Oriola

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The debate on women’s roles in insurgencies and terrorist organizations continues to garner scholarly attention. While some scholars view women insurgents and terrorists as perpetrators, others have argued that they are non-agents and victims. This paper de/reconstructs the notion of ‘women as perpetrators’ of terrorism. Drawing on the narratives of rescued female Boko Haram operatives, and Boko Haram’s tactics for recruiting and deploying women and girls, the paper advances three main arguments. First, the growing social construction of women as perpetrators of terrorism – particularly radical Islamic terrorism – downplays the socio-cultural and structural processes leading to women’s involvement with terrorist organizations. Second, women agency in Boko Haram activities is better understood when grounded in the cultural and structural contexts of Northern Nigeria, Boko Haram’s construction of ‘female,’ and the experiences of female Boko Haram operatives. Third, the mechanisms through which female Boko Haram operatives are recruited and deployed make them more of non-agents and victims than perpetrators of terrorism. The paper draws on the agency-structure approach and argues that the gendered power asymmetries embedded in the cultures and structures of Northern Nigeria –the base of Boko Haram– contribute to the nature and dynamics of women’s involvement in the insurgency. Although the paper does not negate the agency of women in terrorism, it aligns with the studies that consider women insurgents as more victims than perpetrators of terror.

Keywords: Boko Haram, female agency, Northern Nigeria, patriarchy, perpetrator of terror, radical Islamic terrorism, sharia, victim of terror, women insurgents

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Authors: Arjumand Warsy

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Among the Muslims, the Holy Quran is taught from early childhood and generally by the age of 7-8 years the reading of the entire Quran is completed by most of the children in Muslim families. During this period excellent reciter’s are selected to teach and emphasis is laid on correct reading, pronunciation and memorization. Following these years, the parents lay emphasis on the recitation of the Quran on daily basis. During the month of Ramadan the entire Quran is read one or more times and there are considerable number of Muslims who complete the entire Quran once or more each calendar month. Many Muslims do not know Arabic and for them message in the Quran is what others tell them and often they have no idea about this Guidance sent to them. This deficiency is reflected in many ways, both among people living in Muslim or non-Muslim countries. Due to the deficiency in knowledge about Islamic teachings, the foundations of Islam are being eroded by a variety of forces. In an attempt to guard against the non-Islamic influences, every Muslim must have a clear understanding of the Islamic teachings and requirements. The best guidance can be provided by the understanding of the Holy Quran. However, we are faced with the problem that often the Quran is taught in a way that fails to develop an interest and understanding of the message from Allah. Looking at the teaching of other subjects both scientific and non-scientific, at school, college or University levels, it is obvious that the advances in teaching methodologies using electronic technology have had a major impact, where both the understanding and the interest of the students are significantly elevated. We attempted to teach the meaning of the Holy Quran to children and adults using a scientific and modern approach using slide presentation and animations. The results showed almost 100% increase in the understanding of the Quran message; all attendees claimed they developed an increased interest in the study of the Holy Quran and did not lose track or develop boredom throughout the lectures. They learnt the information and remembered it more effectively. The love for Allah and Prophet Mohammad (PBUH) increased significantly. The fear of Allah and love of Heaven developed significantly. Historical facts and the stories of the past nations became clearer and the Greatness of the Creator was strongly felt. Several of attendees wanted to become better Muslims and to spread the knowledge of Islam. In this presentation, the adopted teaching method will be first presented and demonstrated to the audience using a short Surah from the Quran, followed by discussion on the results achieved during our study. We will endeavor to convey to the audience that there is a need to adopt a more scientific approach to teach the Quran so that a greater benefit is achieved by all.

Keywords: The Holy Quran, Muslims, presentations, technology

Procedia PDF Downloads 426

Authors: Siti Dewi Aisyah

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Islamic Muslim fashion has become a trend in Indonesia. It is said that social media has a huge impact on its development. Indonesia is ranked among the most users of social media. That is why people who wear hijab also use social media for different purposes, one of this is to introduce hijab fashion. Consequently, they are becoming famous in social media. Social media has become a tool for communicating their beliefs as a Muslim as well as personal branding as a good hijabi yet with a fashionable style. This research will examine the social media such as Blog and Instagram, how it triggers the consumer culture to hijabi, what is the actual meaning behind of their feed posts in their social media, how they produce good photograph in their social media and for what reason they use social media. This research had been conducted through in-depth interviews with several bloggers who created Hijabers Community who have made a new trend in Muslim fashion and also Instagrammers who made their feeds as a style inspiration. The methodology used for this research is by analyzing Blog and Instagram through visual analysis that also examines the semiotic meaning behind the photographs that are posted by the people on the social media especially about the Islamic Modest Fashion trend. The theoretical framework for this research is about studying social media that is examined through visual analysis. The Muslim fashion trend was lead by several bloggers and continued to Instagram which then created a consumption pattern. From colourful colors, pastel colors, monochrome colors to neutral coffee tone colors, it was influenced by the Muslim fashion designers that also become digital influencers in social media. It was concluded that social media had been a powerful promotional and effective tool to change the trend in Indonesian Muslim Fashion trend.

Keywords: blog, instagram, consumer culture, muslim fashion, social media, visual analysis

Procedia PDF Downloads 366