Search results for: Islamic activism in social movement theory
15002 The Formulation of the Mecelle and Other Codified Laws in the Ottoman Empire: Transformation Overturning the Sharia Principles
Authors: Tianqi Yin
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The sharia had been the legislative basis in the Ottoman Empire since its emergence. The authority of sharia was superlative in the Islamic society compared to the power of the sulta, the nominal ruler of the nation, regulating essentially every aspect of people’s lives according to an ethical code. In modernity, however, as European sovereignty employed forces to re-engineer the Islamic world to make it more like their own, a society ruled by a state, the Ottoman legislation system encountered a great challenge of adopting codified laws to replace sharia with the formulation of the Mecelle being a prominent case. Interpretations of this transformation have been contentious, with the key debate revolving around whether these codified laws are authentic representations of sharia or alien legal formulations authorized by the modern nation-state under heavy European colonial influence. Because of the difference in methodology of the diverse theories, challenges toward having a universal conclusion on this issue remain. This paper argues that the formulation of the Mecelle and other codified laws is a discontinuity of sharia due to European modernity’s influence and that the emphasis on elements of Islamic laws is a tactic employed to promote this process. These codified laws signals a complete social transformation from the Islamic society ruled by the sharia to a replication of the European society that is ruled by a comprehensive ruling system of the modern state. In addition to advancing the discussion on the characterization of the codification movement in the Ottoman Empire in modernity, the research also promotes the determination of the nature of the modern codification movement globally.Keywords: codification, mecelle, modernity, sharia, ottoman empire
Procedia PDF Downloads 9115001 Visualizing Indonesian Hijab Fashion Style in Social Media
Authors: Siti Dewi Aisyah
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The rise of the Internet in the late twentieth century rapidly gains information and understands the world through screens. The digital way of communication through the Internet becomes an ordinary daily pattern. In the digital era, Fashion has been tremendously shared on social media platform especially because of the emergence of #OOTD (Outfit of the Day). Fashion cannot survive without the media. The media have played a vital role in shaping fashion into the complex cultural phenomenon it has become, and fashion has become an intrinsic part of today’s visual culture, and vice versa. Islamic Muslim Fashion has become a trend in Indonesia. It is said that social media has a huge impact in 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 study will examine how social media especially Blog and Instagram can lead the movement of Islamic Modest Fashion in Indonesia, how it triggers the consumer culture to hijabi, how they visualize their style in their 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 Islamic fashion and also Instagrammers who made their feeds as a style inspiration. This research is based on empirical research with qualitative methods (text and picture analysis). The methodology used for this research is by analyzing Blog and Instagram through visual analysis on the social media especially about the Islamic Modest Fashion trend. This research also contains a literature review of a diverse group of works on topics related to the study. This research will be examined through several theoretical frameworks including the study of social media, visual analysis and consumer culture. Fashion and consumer culture are also two main topics because fashion furthermore leads to consumer culture. The benefit of this research is for gaining the insight how social media can visualize the trend in hijab fashion style of Indonesian people.Keywords: blog, consumer culture, hijab fashion, instagram, style, visual analysis
Procedia PDF Downloads 32215000 Alternative Islamic Finance Channels and Instruments: An Evaluation of the Potential and Considerations in Light of Sharia Principles
Authors: Tanvir A. Uddin, Blake Goud
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Emerging trends in FinTech-enabled alternative finance, which includes channels and instruments emerging outside the traditional financial system, heralds unprecedented opportunities to improve financial intermediation and increase access to finance. With widespread criticism of the mainstream Islamic banking and finance sector as either mimicking the conventional system, failing to achieve inclusive growth or both, industry stakeholders are turning to technology to show that finance can be done differently. This paper will outline the critical elements for successful deployment of technology to maximize benefit and minimize potential for harm from introduction of Islamic FinTech and propose recommendations for Islamic financial institutions, FinTech companies, regulators and other stakeholders who are integrating or who are considering introducing FinTech solutions. The paper will present an overview of literature, present relevant case studies and summarize the lessons from interviews conducted with Islamic FinTech founders from around the world. With growing central bank concerns about leveraged loans and ballooning private credit markets globally (estimated at $1.4 trillion), current and future Islamic FinTech operators are at risk of contributing to the problems they aim to solve by operating in a 'shadow banking' system. The paper will show that by systematising a robust theory of change linked to positive outcomes, utilising objective impact frameworks (e.g., the Impact Measurement Project) and instilling a risk management culture that is proactive about potential social harm (e.g., irresponsible lending), FinTech can enable the Islamic finance industry to support positive social impact and minimize harm in support of the maqasid. The adoption of FinTech within the Islamic finance context is still at a nascent stage and the recommendations we provide based on the limited experience to date will help address some of the major cross-cutting issues related to FinTech. Further research will be needed to elucidate in more detail issues relating to individual sectors and countries within the broader global Islamic finance industry.Keywords: alternative finance, FinTech, Islamic finance, maqasid, theory of change
Procedia PDF Downloads 15614999 Islamic Banks and the Most Important Contemporary Challenges
Authors: Mahmood Mohammed Abdulsattar Aljumaili
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Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks.Keywords: Islamic banks, Basel 1-2 agreement, most important contemporary challenges, islamic banking industry, Dow Jones Islamic market
Procedia PDF Downloads 50014998 Integrating Islamic Finance Principles with Environmental, Social, and Governance Criteria: A Bibliometric Analysis of Global Trends and Impact Within the 2030 Agenda
Authors: Paolo Biancone, Silvana Secinaro, Davide Calandra
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This study explores the integration of Islamic finance principles with environmental, social, and governance (ESG) criteria, focusing on the contribution of Islamic financial instruments to achieving sustainable development goals (SDGs). Through a systematic literature review (SLR) and bibliometric analysis of 66 documents from 2019 to 2024, the research addresses critical gaps by examining the alignment between Islamic finance and ESG, identifying emerging trends, and assessing operational challenges and opportunities. Findings indicate that Islamic finance, mainly through instruments such as green sukuk and Islamic microfinance, demonstrates substantial alignment with ESG objectives, anchored in its ethical principles of risk-sharing, fairness, and avoidance of harmful investments. Nevertheless, scalability and regulatory structures pose significant challenges to broader ESG adoption within Islamic finance. This study offers theoretical and practical implications, proposing that Islamic finance provides a solid framework to address sustainability shortcomings in conventional finance. Furthermore, it highlights future research directions, emphasizing the need for empirical studies on the long-term impact of Islamic financial products on sustainability outcomes and exploring the role of fintech in ESG integration.Keywords: Islamic finance, ESG, SDGs, bibliometric analysis, Shariah-compliant investments
Procedia PDF Downloads 1414997 Insults, Injuries, and Resistance: Challenging Environmental Classism and Embracing Working-Class Environmentalism
Authors: Karen Bell
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It is vital to integrate a working-class perspective into the just transition to an inclusive and sustainable society because of the particular expertise and interests that working-class people bring to the debates and actions. In class societies, those who are not well represented in the current structures of power can find it easier to see when the system is not working. They are also more likely to be impacted by the environmental crises because wealthier people can change their dwelling places, jobs and other aspects of their lives in the face of risks. Therefore, challenging the ‘post-material values thesis’, this paper argues that, if enabled to do so, working-class people are more likely to identify what needs to be addressed and changed in transition and can be more motivated to make the changes necessary than other social groups. However, they are often excluded from environmental decision-making and environmental social movements. The paper is based on a mixed methodology; drawing on secondary data, interview material, participant observation and documentary analysis. It is based on years of research and activism on environmental issues in working-class communities. The analysis and conclusion discusses the seven kinds of change required to address this problem: 1) organizational change - participatory practice (2) legislative change - make class an equalities and human rights issue (3) policy change - reduce inequality (4) social movement change - radicalize the environmental movement and support the environmental working-class (5) political change - create an eco-social state based on sharing (6) cultural change - integrate social and environmental justice, and (7) revolutionary change - dismantle capitalism.Keywords: environmentalism, just transition, sustainability, working class
Procedia PDF Downloads 15414996 Historical Evolution of Islamic Law and Its Application to the Islamic Finance
Authors: Malik Imtiaz Ahmad
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The prime sources of Islamic Law or Shariah are Quran and Sunnah and is applied to the personal and public affairs of Muslims. Islamic law is deemed to be divine and furnishes a complete code of conduct based upon universal values to build honesty, trust, righteousness, piety, charity, and social justice. The primary focus of this paper was to examine the development of Islamic jurisprudence (Fiqh) over time and its relevance to the field of Islamic finance. This encompassed a comprehensive analysis of the historical context, key legal principles, and their application in contemporary financial systems adhering to Islamic principles. This study aimed to elucidate the deep-rooted connection between Islamic law and finance, offering valuable insights for practitioners and policymakers in the Islamic finance sector. Understanding the historical context and legal underpinnings is crucial for ensuring the compliance and ethicality of modern financial systems adhering to Islamic principles. Fintech solutions are developing fields to accelerate the digitalization of Islamic finance products and services for the harmonization of global investors' mandate. Through this study, we focus on institutional governance that will improve Sharia compliance, efficiency, transparency in decision-making, and Islamic finance's contribution to humanity through the SDGs program. The research paper employed an extensive literature review, historical analysis, examination of legal principles, and case studies to trace the evolution of Islamic law and its contemporary application in Islamic finance, providing a concise yet comprehensive understanding of this intricate relationship. Through these research methodologies, the aim was to provide a comprehensive and insightful exploration of the historical evolution of Islamic law and its relevance to contemporary Islamic finance, thereby contributing to a deeper understanding of this unique and growing sector of the global financial industry.Keywords: sharia, sequencing Islamic jurisprudence, Islamic congruent marketing, social development goals of Islamic finance
Procedia PDF Downloads 7314995 Islamic State: Franchising Jihad through the New Caliphate
Authors: Janiel David Melamed Visbal
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The Islamic State has become one of the most remarkable threats for international security through their religious extremism and their establishment of a new caliphate by force. The main objective of this organization is to obtain territorial expansions beyond the Middle East and eventually to consolidate an Islamic global order based on their extremist ideology. This paper will conduct an analysis regarding how, over the past year, many jihadist organizations worldwide have pledged their alliagance to the Islamic State, transforming it into the most important jihadist franchise globally.Keywords: Islamic state, franchise, jihad, Islamic fundamentalism, caliphate
Procedia PDF Downloads 35914994 Impact of Green Marketing Mix Strategy and CSR on Organizational Performance: An Empirical Study of Manufacturing Sector of Pakistan
Authors: Syeda Shawana Mahasan, Muhammad Farooq Akhtar
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The objective of this study is to analyze the influence of the green marketing mix strategy and corporate social responsibility (CSR) on the performance of an organization, taking into account the mediating effect of corporate image. The impact of frugal innovation and corporate activism is being examined. The data was gathered from executives at various levels of management, including top, middle, and lower-level managers, from a total of 550 manufacturing enterprises of different sizes, ranging from small to medium to large. The collected replies are processed and analyzed using SMART PLS version 4.0.0.0. The application of PLS-SEM demonstrates that the green marketing mix strategy and corporate social responsibility have a significant impact on organizational performance. Therefore, it is imperative for organizations to effectively adopt environmentally sustainable and socially conscious methods within their operations. The results indicate that the corporate image has a key role in mediating the relationship between the green marketing mix strategy, corporate social responsibility, and organizational performance. This demonstrates the imperative for organizations to actively enhance their favorable reputation among stakeholders. The combination of frugal innovation and corporate activism enhances the connection between corporate image and organizational performance. The current study assists managers in recognizing the significance of these particular constructs in maintaining the long-term performance of the organization.Keywords: green marketing mix strategy, CSR, corporate image, organizational performance, frugal innovation, corporate activism
Procedia PDF Downloads 4114993 Islamization of Knowledge with Special Reference to Mohd Kamal Hassan's Perspective
Authors: Abdul Latheef O. Mavukkandy
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Islamization of knowledge (IOK) is an intellectual movement emerged in the middle of 1970s to address the threats by modern western civilizational onslaughts. This paper analyzes the discourse of Islamization of knowledge with special reference to the views of Kamal Hassan who prefers an alternative term called 'Islamicization'. First of all the theoretical and practical outlines of IOK movement were presented by Ismail Raji al-Faruqi in his book 'Islamization of Knowledge; General Principles and Work Plan' in 1982. He identified that the educational system in the Muslim world accounted for the decline of Muslim Ummah through de-Islamization and demoralization. So, the need for IOK was an academic challenge to reconstruct the Ummah. Kamal Hassan kept just different view from Ismail Raji al-Faruqi and Muhammed Naquib al-Attas that he coined the terms 'Relevantization and Contextualization'. So, he wanted the 'Islamization of Islamic Revealed Knowledge'. So, he used Islamization of Human Knowledge (IOHK) instead of IOK. As part of this movement, the IOK identified that the textbooks used in Muslim educational institutions systematically keep the students estranged from Islam and its heritage. Furthermore, the modern secular knowledge develops secular attitude devoid of Islamic moral philosophy and the sense of mission in life. Based upon the content analysis of some of the sources, this study found that Islamization of Knowledge is an important movement in Islamic world, but the IOK project is not practicable completely because of the lack of trained teachers and resources. Although, the project resulted in the foundation of some universities and publishing more works, journals and doctoral thesis on different dimensions of Islamization of Knowledge.Keywords: Islamization, Islamicization, releventization, human knowledge
Procedia PDF Downloads 43114992 Islamic Geometric Design: Infinite Point or Creativity through Compass and Digital
Authors: Ridzuan Hussin, Mohd Zaihidee Arshad
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The creativity of earlier artists and sculptors in designing geometric is extraordinary provided with only a compass. Indeed, geometric in Islamic art and design are unique and have their own aesthetic values. In order to further understand geometric, self-learning with the approach of hands on would be appropriate. For this study, Islamic themed geometric designed and created, concerning only; i. The Square Repetition Unit and √2, ii. The Hexagonal Repetition Unit and √3 and iii. Double Hexagon. The aim of this research is to evaluate the creativity of Islamic geometric pattern artworks, through Fundamental Arts and Gestalt theory. Data was collected using specific tasks, and this research intends to identify the difference of Islamic geometric between 21 untitled selected geometric artworks (conventional design method), and 25 digital untitled geometric pattern artworks method. The evaluation of creativity, colors, layout, pattern and unity is known to be of utmost importance, although there are differences in the conventional or the digital approach.Keywords: Islamic geometric design, Gestalt, fundamentals of art, patterns
Procedia PDF Downloads 25014991 The Rise and Effects of Social Movement on Ethnic Relations in Malaysia: The Bersih Movement as a Case Study
Authors: Nur Rafeeda Daut
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The significance of this paper is to provide an insight on the role of social movement in building stronger ethnic relations in Malaysia. In particular, it focuses on how the BERSIH movement have been able to bring together the different ethnic groups in Malaysia to resist the present political administration that is seen to manipulate the electoral process and oppress the basic freedom of expression of Malaysians. Attention is given on how and why this group emerged and its mobilisation strategies. Malaysia which is a multi-ethnic and multi-religious society gained its independence from the British in 1957. Like many other new nations, it faces the challenges of nation building and governance. From economic issues to racial and religious tension, Malaysia is experiencing high level of corruption and income disparity among the different ethnic groups. The political parties in Malaysia are also divided along ethnic lines. BERSIH which is translated as ‘clean’ is a movement which seeks to reform the current electoral system in Malaysia to ensure equality, justice, free and fair elections. It was originally formed in 2007 as a joint committee that comprised leaders from political parties, civil society groups and NGOs. In April 2010, the coalition developed as an entirely civil society movement unaffiliated to any political party. BERSIH claimed that the electoral roll in Malaysia has been marred by fraud and other irregularities. In 2015, the BERSIH movement organised its biggest rally in Malaysia which also includes 38 other rallies held internationally. Supporters of BERSIH that participated in the demonstration were comprised of all the different ethnic groups in Malaysia. In this paper, two social movement theories are used: resource mobilization theory and political opportunity structure to explain the emergence and mobilization of the BERSIH movement in Malaysia. Based on these two theories, corruption which is believed to have contributed to the income disparity among Malaysians has generated the development of this movement. The rise of re-islamisation values propagated by certain groups in Malaysia and the shift in political leadership has also created political opportunities for this movement to emerge. In line with the political opportunity structure theory, the BERSIH movement will continue to create more opportunities for the empowerment of civil society and the unity of ethnic relations in Malaysia. Comparison is made on the degree of ethnic unity in the country before and after BERSIH was formed. This would include analysing the level of re-islamisation values and also the level of corruption in relation to economic income under the premiership of the former Prime Minister Mahathir and the present Prime Minister Najib Razak. The country has never seen such uprisings like BERSIH where ethnic groups which over the years have been divided by ethnic based political parties and economic disparity joined together with a common goal for equality and fair elections. As such, the BERSIH movement is a unique case where it illustrates the change of political landscape, ethnic relations and civil society in Malaysia.Keywords: ethnic relations, Malaysia, political opportunity structure, resource mobilization theory and social movement
Procedia PDF Downloads 34914990 Reconciling Religion and Feminism: A Case Study of Muslim Women's Rights Activism in India
Authors: Qazi Sarah Rasheed
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Feminism and religion have been regarded as opposing binaries. The reason being that religion is regarded as a tool to legitimize the patriarchal control over women, and therefore, it stands in contrast with the basic feminist principle of gender equity. Hence, the issue of incompatibility between religion and gender parity is often discussed by the feminist as well as secular/liberal discourses, but the feminist discourse has suffered a serious backlash in the recent times for it alienates those women who want to liberate but not at the expense of their religious identity. Though in the Western feminist thought, religion is regarded as a tool of patriarchy that promotes women’s suppression, but for many women, religion can be a source of liberation that advances their rights. The feminists in general, fail to realize that religion, as a social phenomenon may not necessarily promote a series of dogmatic doctrines which are inevitably retrogressive or instinctively status-quoist especially when it comes to the social reforms affecting gender orders. The traditional institution of religion could be instrumental to provide what the women in contemporary situation demand. This paper highlights how the Muslim women in India negotiate and mediate this opposition in an Islamic context. To advance the socio-legal recognition of women’s rights, they question the male privilege and patriarchy in a meaningful way without challenging their Islamic doctrines and try to build a feminist consciousness from within religion.Keywords: feminism, Islam, Muslim women's rights, religious identity
Procedia PDF Downloads 22614989 Islamic Banking in Ghana: Prospects and Challenges
Authors: Shaibu Ali, Sherif Heiman Shaban, Musah Ismaila, Imoro Alhassan, Yusif Ali
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Purpose: Islamic banking and finance is one of the most rapidly growing segments of the global finance industry. Starting with the Dubai Islamic Bank in 1975, the number of Islamic financial institutions worldwide has shot up astronomically, to over three hundred, with operations in seventy-five countries and assets in excess of US$400 billion. The purpose of this study is to explore the prospects and challenges of Islamic banking introduction in a non-Islamic country like Ghana. Design/Methodology: Data for the study was collected via an expert opinion of three Islamic scholars on Islamic banking from Ghana. Findings: Findings from this study indicates some of the benefits of Islamic banking includes connecting financial markets and economic activity, promoting the principle of financial justice, greater stability, avoiding economic bubbles (and bursts) and reducing the impact of harmful products and practices. The study also identified lack of experts in various fields of Islamic banking, product innovation, moral hazard, and need for experienced staff in Islamic banking as some of the challenges to Islamic banking system’s introduction. Contribution: The study contributes to literature on Islamic banking from a non-Islamic country like Ghana.Keywords: Islamic banking, Shari’ah, Riba, conventional banking
Procedia PDF Downloads 17814988 Impact of Social Media on the Functioning of the Indian Government: A Critical Analysis
Authors: Priya Sepaha
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Social media has loomed as the most effective tool in recent times to flag the causes, contents, opinions and direction of any social movement and has demonstrated that it will have a far-reaching effect on government as well. This study focuses on India which has emerged as the fastest growing community on social media. Social movement activists, in particular, have extensively utilized the power of digital social media to streamline the effectiveness of social protest on a particular issue through extensive successful mass mobilizations. This research analyses the role and impact of social media as a power to catalyze the social movements in India and further seeks to describe how certain social movements are resisted, subverted, co-opted and/or deployed by social media. The impact assessment study has been made with the help of cases, policies and some social movement which India has witnessed the assertion of numerous social issues perturbing the public which eventually paved the way for remarkable judicial decisions. The paper concludes with the observations that despite its pros and cons, the impacts of social media on the functioning of the Indian Government have demonstrated that it has already become an indispensable tool in the hands of social media-suave Indians who are committed to bring about a desired change.Keywords: social media, social movements, impact, law, government
Procedia PDF Downloads 16214987 Ethics in the Islamic Political System
Authors: Djehich Mohamed Yousri
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This research deals with an important issue in Islamic political thought, which is the relationship of ethics to the Islamic political system. This is done by following the legal politics books and analyzing their texts in order to reach the moral values on which the political system in Islam is based, starting from the concept of politics to the political principles and conditions of the ruler and the reasons for his removal and the conditions of those authorized to choose him, and ending with the ruler’s relationship with his people, and the relationship of the Islamic state with other countries. The research concluded that moral values are the basis of the political system in Islam, and the reason for this is due to the fact that Islam is a religion and a global and realistic human system that embraces morals and higher values in order to preserve its lofty message and calls for brotherhood, love, and justice and does not harm human morals. And if the reality of politics in the Islamic world today is not related to the moral values and the lofty message of Islam, this research tries to show the origins of political theory in Islam, and the purpose of the Islamic political system, towards the morality of politics.Keywords: moral, politics, islam, political system, islamic political system
Procedia PDF Downloads 10514986 The Determinants of Customer’s Purchase Intention of Islamic Credit Card: Evidence from Pakistan
Authors: Nasir Mehmood, Muhammad Yar Khan, Anam Javeed
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This study aims to scrutinize the dynamics which tend to impact customer’s purchasing intention of Islamic credit card and nexus of product’s knowledge and religiosity with the attitude of potential Islamic credit card’s customer. The theory of reasoned action strengthened the idea that intentions due to its proven predictive power are most likely to instigate intended consumer behavior. Particularly, the study examines the relationships of perceived financial cost (PFC), subjective norms (SN), and attitude (ATT) with the intention to purchase Islamic credit cards. Using a convenience sampling approach, data have been collected from 450 customers of banks located in Rawalpindi and Islamabad. A five-point Likert scale self-administered questionnaire was used to collect the data. The data were analyzed using the Statistical Package of Social Sciences (SPSS) through the procedures of principal component and multiple regression analysis. The results suggested that customer’s religiosity and product knowledge are strong indicators of attitude towards buying Islamic credit cards. Likewise, subjective norms, attitude, and perceived financial cost have a significant positive impact on customers’ purchase intent of Islamic bank’s credit cards. This study models a useful path for future researchers to further investigate the underlined phenomenon along with a variety of psychodynamic factors which are still in its infancy, at least in the Pakistani banking sector. The study also provides an insight to the practitioners and Islamic bank managers for directing their efforts toward educating customers regarding the use of Islamic credit cards and other financial products.Keywords: attitude, Islamic credit card, religiosity, subjective norms
Procedia PDF Downloads 14514985 Islamic Financial Engineering: An Overview
Authors: Mahfoud Djebbar
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The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed.Keywords: islamic financial engineering, hedging and risk management, innovation, securitization, money market instruments, islamic capital markets
Procedia PDF Downloads 55614984 Risk Management in Islamic Banks: A Case Study of the Faisal Islamic Bank of Egypt
Authors: Mohamed Saad Ahmed Hussien
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This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.Keywords: conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management
Procedia PDF Downloads 45914983 Even When the Passive Resistance Is Obligatory: Civil Intellectuals’ Solidarity Activism in Tea Workers Movement
Authors: Moshreka Aditi Huq
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This study shows how a progressive portion of civil intellectuals in Bangladesh contributed as the solidarity activist entities in a movement of tea workers that became the symbol of their unique moral struggle. Their passive yet sharp way of resistance, with the integration of mass tea workers of a tea estate, got demonstrated against certain private companies and government officials who approached to establish a special economic zone inside the tea garden without offering any compensation and rehabilitation for poor tea workers. Due to massive protests and rebellion, the authorized entrepreneurs had to step back and called off the project immediately. The extraordinary features of this movement generated itself from the deep core social need of indigenous tea workers who are still imprisoned in the colonial cage. Following an anthropological and ethnographic perspective, this study adopted the main three techniques of intensive interview, focus group discussion, and laborious observation, to extract empirical data. The intensive interviews were undertaken informally using a mostly conversational approach. Focus group discussions were piloted among various representative groups where observations prevailed as part of the regular documentation process. These were conducted among civil intellectual entities, tea workers, tea estate authorities, civil service authorities, and business officials to obtain a holistic view of the situation. The fieldwork was executed in capital Dhaka city, along with northern areas like Chandpur-Begumkhan Tea Estate of Chunarughat Upazilla and Habiganj city of Habiganj District of Bangladesh. Correspondingly, secondary data were accessed through books, scholarly papers, archives, newspapers, reports, leaflets, posters, writing blog, and electronic pages of social media. The study results find that: (1) civil intellectuals opposed state-sponsored business impositions by producing counter-discourse and struggled against state hegemony through the phases of the movement; (2) instead of having the active physical resistance, civil intellectuals’ strength was preferably in passive form which was portrayed through their intellectual labor; (3) the combined movement of tea workers and civil intellectuals reflected on social security of ethnic worker communities that contrasts state’s pseudo-development motives which ultimately supports offensive and oppressive neoliberal growths of economy; (4) civil intellectuals are revealed as having certain functional limitations in the process of movement organization as well as resource mobilization; (5) in specific contexts, the genuine need of protest by indigenous subaltern can overshadow intellectual elitism and helps to raise the voices of ‘subjugated knowledge’. This study is quite likely to represent two sets of apparent protagonist entities in the discussion of social injustice and oppressive development intervention. On the one, hand it may help us to find the basic functional characteristics of civil intellectuals in Bangladesh when they are in a passive mode of resistance in social movement issues. On the other hand, it represents the community ownership and inherent protest tendencies of indigenous workers when they feel threatened and insecure. The study seems to have the potential to understand the conditions of ‘subjugated knowledge’ of subalterns. Furthermore, being the memory and narratives, these ‘activism mechanisms’ of social entities broadens the path to understand ‘power’ and ‘resistance’ in more fascinating ways.Keywords: civil intellectuals, resistance, subjugated knowledge, indigenous
Procedia PDF Downloads 12714982 Anthropology of Women and War (1979-1988) in Iran: The Role of Islamic Republic Media
Authors: Mina Dousti
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Like many women worldwide, and especially those living in the Middle East, Iranian women are struggling to have equal rights as men. The Islamic Republic regime, established in 1979, made this path even more difficult for Iranian women. Media and the Islamic Republic's powerful propaganda are the main factors and advertisers in omitting women's social rights and civic activities. Also, the hijab (veil), which became obligatory immediately after the revolution based on the Qur'an and religious Hadiths, was another way of suppressing women. Since the Islamic Republic Revolution and the following Iran-Iraq war (1980-1988), the Iranian female community has been experiencing different social and legal challenges. Aside from the Islamic regime's role in ignoring women, their families have also contributed to this limitation via unreasonable zeals and religious prejudices. Subsequently, all these factors led to pushing Iranian women to the corner and public dormancy. During the eight-year war, many Iranian women directly participated in the war front line. Although they became martyred, the regime intentionally ignored their public presence employing Islamic justifications and Sharia as an excuse. The government did these actions to justify censorship and unfairness toward women.Keywords: Iranian women, Islamic Republic Regime, hijab, revolution, Iran-Iraq war, Martyr
Procedia PDF Downloads 14814981 Planning for a Sustainable Islamic City in Malaysia
Authors: Mohd Yazid M. Yunos, R. Arinah, Nor Kalsum M. Isa, U. Nangkula, Nor A. Ismail, Nor F. Ariffin
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Islamic City planning is a concept of optimizing the overall arrangement of land use without compromising community. The concept was influenced by the specific intentions in mind, applying certain ideological principles and objectives rooted in Islamic faith and Muslim culture using distinct design elements. Holy Quran and hadiths provide a foundation for understanding Islamic Principles as clearly shared by the established Islamic Cities such as Medina, Mecca and Jerusalem. This paper aimed to explore the principles and elements of an Islamic City through the review of relevant literature by the means of Content Analysis method. A theoretical framework of Islamic City Principles was then formulated to be the main outcome of the study. The finding is very important to be a useful starting point for future study, especially for formulating a clear guide for the development of upcoming Islamic City in Malaysia.Keywords: Islamic principles, sustainable city planning, Islamic city, Malaysia
Procedia PDF Downloads 53014980 The Arabian Financial Framework in the Pre-Islamic Times: Do We Need a New Paradigm
Authors: Fahad Ahmed Qureshi
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There were abundant renowned financial markets in Pre-Islamic Arabs. Most of those were patterned and settled during pre-particularized sunshine. Those markets were classified either as vernacular markets helping the neighboring clans, or habitual markets that people sojourned to from all articulations of the Arabian Peninsula, such as Okaz near Mecca. Some of those markets had leading significance due to their geographical positions, such as Prime market of Eden, because of their entanglement in international trade i.e. with the markets of Sub-Continent, Abyssinia, Persia and China. Other markets such as Market of Yamamah annex its gist from being situated on the caravan crossroads. Islamic worldview and Islamic epistemology base of Financial Market’s realistic theory, pragmatic model and operative approach is moderately constrained in terms of its growth. The existent situation only parasol the form of accommodative-modification and splendid-methodologies, which due to depleted and decorous endeavor in explaining Islamic financial market theoretically. This is the demand of time that particular studies should be conduct to magnify the devours in developing theoretical framework for Islamic Financial Market.Keywords: Islam, financial market, history, research, product development
Procedia PDF Downloads 41114979 The Dubai World Islamic Finance Arbitration Center and Jurisprudence Office as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry
Authors: Camille Paldi
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As the Islamic finance industry is growing annually at a rate of 10% to 15% per year, it is imperative that a unique, independent legal framework is established in order to effectively adjudicate Islamic finance disputes. Currently, Islamic finance disputes are being adjudicated in inadequate civil and common law courts and arbitration centers where the contracts in dispute are being transformed from Islamic to conventional transactions. Through case analysis combined with an exploration of the efficacy of existing arbitration centers and dispute resolution methods available to Islamic finance, this paper will seek to reveal that the Islamic finance industry currently lacks an adequate dispute resolution mechanism and facility to adjudicate disputes arising from Islamic finance contracts. Hence, now is the time for the Dubai World Islamic Finance Arbitration Center (DWIFAC) and Jurisprudence Office (DWIFACJO) as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry.Keywords: Islamic finance, dispute resolution, Dubai world Islamic finance arbitration center, jurisprudence office
Procedia PDF Downloads 41414978 Gold, Power, Protest, Examining How Digital Media and PGIS are Used to Protest the Mining Industry in Colombia
Authors: Doug Specht
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This research project sought to explore the links between digital media, PGIS and social movement organisations in Tolima, Colombia. The primary aim of the research was to examine how knowledge is created and disseminated through digital media and GIS in the region, and whether there exists the infrastructure to allow for this. The second strand was to ascertain if this has had a significant impact on the way grassroots movements work and produce collective actions. The third element is a hypothesis about how digital media and PGIS could play a larger role in activist activities, particularly in reference to the extractive industries. Three theoretical strands have been brought together to provide a basis for this research, namely (a) the politics of knowledge, (b) spatial management and inclusion, and (c) digital media and political engagement. Quantitative data relating to digital media and mobile internet use was collated alongside qualitative data relating to the likelihood of using digital media in activist campaigns, with particular attention being given to grassroots movements working against extractive industries in the Tolima region of Colombia. Through interviews, surveys and GIS analysis it has been possible to build a picture of online activism and the role of PPGIS within protest movement in the region of Tolima, Colombia. Results show a gap between the desires of social movements to use digital media and the skills and finances required to implement programs that utilise it. Maps and GIS are generally reserved for legal cases rather than for informing the lay person. However, it became apparent that the combination of digital/social media and PPGIS could play a significant role in supporting the work of grassroots movements.Keywords: PGIS, GIS, social media, digital media, mining, colombia, social movements, protest
Procedia PDF Downloads 42714977 An Integrated Approach of Islamic Social Financing for Achieving Sustainable Development Goals (SDGS) Through Crowdfunding: A Model for Sharing Economy for Community Development in Bangladesh
Authors: Md. Abu Yousuf
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Islamic social financing (ISF) refers to the fair distribution of wealth and financial dealings and prevents economic exploitation at all levels. ISF instruments include Islamic institutions Zakat (obligatory charity), Sadaqah (voluntary charity) and Waqf (endowment) based on philanthropy such and Qard-al Hasan (beautiful loan), micro takaful (insurance) and social investments through Sukuk (bonds) based on cooperation. ISF contributes to socio-economic development, end poverty, protects environmental sustainability, promotes education, equality, social justice and above all, establishes social well-being since the birth of Islam. ISF tools are instrumental towards achieving sustainable development goals (SDGs) set by United Nations (UN). The present study will explore the scope of ISF for community development in Bangladesh and examine the challenges in implementing ISF tools and will provide the most practical model of ISF. The study will adopt a mixed-method (MM) design in the process of data collection and analysis. The researcher will consider all issues related to ethics, reliability, validity and feasibility while conducting the study.Keywords: Islamic social financing, sustainable development goals, poverty eradication, zakat, waqf, sadaqah, Islamic microfinance
Procedia PDF Downloads 18914976 Documentary Filmmaking as Activism: Case Studies in Advocacy and Social Justice
Authors: Babatunde Kolawole
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This paper embarks on an exploration of the compelling interplay between documentary filmmaking and activism, delving into their symbiotic relationship and profound impact on advocacy and social justice causes. Through an in-depth analysis of diverse case studies, it seeks to illuminate the instances where documentary films have emerged as potent tools for effecting social change and advancing the principles of justice. This research underscores the vital role played by documentary filmmakers in harnessing the medium's unique capacity to engage, educate, and mobilize audiences while advocating for societal transformation. The primary focus of this study is on a selection of compelling case studies spanning various topics and causes, each exemplifying the marriage between documentary filmmaking and activism. These case studies encompass a broad spectrum of subjects, from environmental conservation and climate change to civil rights movements and human rights struggles. By examining these real-world instances, this paper endeavors to provide a comprehensive understanding of the strategies, challenges, and ethical considerations that underpin the practice of documentary filmmaking as a form of activism. Throughout the paper, it becomes evident that the potency of documentary filmmaking lies in its ability to blend artistry with social impact. The selected case studies vividly demonstrate how documentary filmmakers, armed with cameras and a passion for change, have emerged as critical agents of societal transformation. Whether it be exposing environmental atrocities, shedding light on systemic inequalities, or giving voice to marginalized communities, these documentaries have played a pivotal role in pushing the boundaries of advocacy and social justice. One of the key themes explored in this paper is the evolving nature of documentary filmmaking as a tool for activism. It delves into the shift from traditional observational documentaries to more participatory and immersive approaches, highlighting the dynamic ways in which filmmakers engage with their subjects and audiences. This evolution is exemplified in case studies where filmmakers have collaborated with the communities they document, fostering a sense of agency and empowerment among those whose stories are being told. Furthermore, this research underscores the ethical considerations inherent in the intersection of documentary filmmaking and activism. It scrutinizes questions surrounding representation, objectivity, and the responsibility of filmmakers in portraying complex social issues. By dissecting ethical dilemmas faced by documentary filmmakers in these case studies, this paper encourages a critical examination of the ethical boundaries and obligations in the realm of advocacy-driven filmmaking. In conclusion, this paper aims to shed light on the remarkable potential of documentary filmmaking as a catalyst for activism and social justice. Through the lens of compelling case studies, it illustrates the transformative power of the medium in effecting change, amplifying underrepresented voices, and mobilizing global audiences. It is hoped that this research will not only inform the discourse on documentary activism but also inspire filmmakers, scholars, and advocates to continue leveraging the cinematic art form as a formidable force for a more just and equitable world.Keywords: film, filmmaker, documentary, human right
Procedia PDF Downloads 5614975 Challenges Being Faced by Students of Arabic and Islamic Studies in Tetiary Institutions in Nigeria: Case Study of Some Selected Tetiary Instutions of Yobe State, Nigeria
Authors: Muhammad Alhaji Maidugu
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The role played by Arabic and Islamic Studies in the history of Nigeria - particularly Northern part of the country - cannot be overemphasized. Before the British colonialism, Arabic language was the official language in some of the great empires in Nigeria such as the Kanem Borno Empire. Islam, on the other hand, is the state religion. Both the rulers and the ruled were deeply involved in the pursuit of Arabic and Islamic knowledge traveling as far as Egypt, Saudia Arabia for scholarship. Their homes are like a modern library where Islamic books are kept and used to teach the community the different fields of Arabic and Islamic Studies. Scholars of Arabic and Islamic Studies were highly regarded and well respected in the society as they were the decision makers, diplomats and advisers to the authorities. Unfortunately, the colonizers used their influence and force to replace this language with a foreign language. In fact, they tried to exterminate it. Arabic became less important in the country. Arabic and Islamic Students became less significant and anybody studying Arabic or Islamic Studies is looked down at with disdain, and the course is considered unprofessional. This paper aims at casting a glance in the position of Arabic and Islamic Studies in Yobe State, Nigeria and social, political, economical and moral challenges faced by the students at institutions of learning.Keywords: challenges, students of Arabic and Islamic studies, tertiary, institutions, Yobe
Procedia PDF Downloads 36214974 Islamic Banking: An Ultimate Source of Financial Inclusion
Authors: Tasawar Nawaz
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Promotion of socioeconomic justice through redistribution of wealth is one of the most salient features of Islamic economic system. Islamic financial institutions known as Islamic banks are used to implement this in practice under the guidelines of Islamic Shariah law. Islamic banking systems strive to promote and achieve financial inclusion among the society by offering interest-free banking and risk-sharing financing solutions. Shariah-compliant micro finance is one of the most popular financial instruments used by Islamic banks to enhance access to finance. Benevolent loan (or Qard-al-Hassanah) is one of the popular financial tools used by the Islamic banks to promote financial inclusion. This aspect of Islamic banking is empirically examined in this paper with specific reference to firm’s resources, largely defined here as intellectual capital. The paper finds that Islamic banks promote financial inclusion by exploiting available resources especially, the human intellectual capital.Keywords: financial inclusion, intellectual capital, Qard-al-Hassanah, Islamic banking
Procedia PDF Downloads 32214973 Commerce and Islamic Banking System
Authors: Rahmoune Abdelhaq
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Systemic Islamic banking has been in practice for long but started receiving due attention and high popularity since last decade. It has received a warm welcome from all over the world and these banks operating on Islamic principles have been able to get a sizeable business not only in Islamic countries but in non-Islamic countries too. Despite exemplary advancements and achievements, there remains number of controversies over various underlying concepts and practices. This paper basically explores and highlights all those controversies and challenges which are in minds of different school of thoughts and are needed to be addressed and overcome if Islamic banking continues flourishing the way it is at present. The authors have also tried to suggest suitable remedies to overcome these challenges where appropriate. As well, This paper makes an attempt to review major principles surrounding the working of Islamic banking and its historical growth. A brief overview of main differences between the Islamic banking and the conventional banking. In addition, references are particularly made to implications arising from the emergence of e-commerce and the realities that the Islamic Shari’ah law has to consider in adopting the new phenomenon into its banking system. This paper shows, whilst the conventional banking and financial system is based on the principle of rationality and interest, the Islamic financial system is based on morality and social justice which prohibits interest as a means of speculation and injustice. The concepts of e-business such as e-commerce and e-banking are acceptable in Islam as since in Islam anything is halal unless prohibited by Shari’ah, dealing with business by internet is considered as Shari’ah compliant. This paper, therefore, provides the latest thinking of e-business from an Islamic viewpoint, thus creating a reference point and valued information for a future research.Keywords: Islamic Finance, principles of Islamic banking, Islamic commerce, Shari’ah compliant
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