Search results for: islamic finance

Authors: Waepa Wanhussen

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The Ministry of Public Health has established policies accelerating health promotion to prevent public health problems in five border provinces of Thailand. One of these policies employs the religion to guide the community development and solve health issues consistent with the lifestyle and culture of those people. This policy is an important strategy to solve the problems due to the unrest and conflicts in the southern border provinces. This participatory action research aimed to develop mosques as healthy religion places in Narathiwat Province. In the development, the participatory action, consisting of 5 stages, was conducted from October 2012 - May 2013. Stage I: Conducting a survey for problems and needs for developing healthy religion places by employing community participation. Stage II: Analyzing problems and situations at a workshop containing informal interviews and group conversations with 200 participants (health providers at district level, Imams (the Muslim leaders), and community leaders). Stage III: Planning for developing healthy religion places by health providers, Imams, community leaders. Stage IV: Implementing the plan according to the conditions of problems and needs of the community in order to develop healthy religion places. Stage V: Evaluating the implementation by using the instrument, a criteria of being healthy religion place, for collecting data. Data were analyzed by using percentage. It was found that out of 630 mosques 575 (90.12%) passed the criteria of being a healthy religion place. Among these mosques, 190 mosques (30.15%) were in good and very good level, in which, after the implementation, the number of being good and very good healthy mosques increased by 22.58%. The researcher suggested that the developing sustainably healthy religion places require the participation of residences in the community and agencies such as local government, the Islamic Council of Narathiwat Province, and Council of Culture of Narathiwat Province. The healthy religion places can be used to strengthen and sustain health promotion and disease prevention in the community as health learning centers.

Keywords: healthy religion places, development of community participation, nursing informatics, health

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Authors: F. Fabeil Noor, Roslinah Mahmud, Janice L. H. Nga, Rasid Mail

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In Malaysia, particularly in Sabah, the government has been promoting entrepreneurship among rural people to encourage them to earn their living by making good use of the diverse natural resources and local cultures of Sabah. Nevertheless, despite the government’s aim to encourage more local community in rural area to involve in entrepreneurship, the involvement of community in entrepreneurial activity is still low. It is crucial to identify the factors stimulate (or prevent) the involvement of rural community in Sabah in entrepreneurial activity. Therefore, this study tries to investigate the personal and contextual factors that may have impact on decision to start a business among the local community in Mantanani Island. In addition, this study also aims to identify the perceived benefits they receive from entrepreneurial activity. A structured face-to-face interview was conducted with 61 local communities in Mantanani Island. Data analysis revealed that passion, personal skills and self-confidence are the significant internal factors to entrepreneurial activity, whereas access to finance, labour and infrastructure are the significant external factors that are found to influence entrepreneurship. In terms of perceived rewards they received from taking up small business, it was found that respondents are predominantly agreed that entrepreneurship offers financial benefit than non-financial. In addition, this study also offers several suggestions for entrepreneurship development in Mantanani Island and it is hoped that this study may help the related agency to develop effective support policies in order to encourage more people in rural area to involve in entrepreneurship.

Keywords: entrepreneurship, motivation, perceived rewards, rural community

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Authors: Kamen Kirov

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In the late 19th and early 20th centuries, Britain dominated global trade and finance in large part due to its maritime superiority. Germany, a land power, sought to undermine Britain’s position as the primary hegemon but ultimately could not challenge Britain’s maritime position or capabilities. This drove Germany to seek alternative strategies to weaken Britain’s position. Notably, it pushed Germany to create a reliable overland link through the Balkans to the Middle East via railroad. This article will seek to draw parallels between the German-British hegemonic conflict of the early 20th century and the Chinese-American hegemonic conflict taking place today using both secondary historical sources and current scholarly discussions of the changing international sphere. In doing so, it will provide useful insights into how China might attempt to outflank American power. The article will demonstrate that in many ways, the strategic positions and approaches of the early-20th century Germany and modern China are similar. Both countries were faced with a vastly superior foe with respect to maritime and economic power, and in both cases, their response was to undermine their rival hegemon by creating new overland infrastructure. Furthermore, in both cases, a major goal of creating new overland links was to gain further access to and control over Middle Eastern energy markets. It seems that in the modern day, China is conducting such a policy on a much grander scale than Germany did in the early 20th century—which may result in negative consequences for the US strategic position.

Keywords: belt and road Initiative, hegemonic conflict, maritime power, realism

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Authors: Odey Moses Ogah, Felix Terhemba Ikyereve

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The study was carried out to analyzed risks in financing agriculture by agricultural cooperatives in Benue State, Nigeria. The study made use of research questionnaires for data collection. A multistage sampling technique was used to select a sample of 210 respondents from 21 agricultural cooperatives. Both descriptive and inferential statistics were employed in data analysis. Loan defaulting (66.7%) and reduction in savings by members (51.4%) were the major causes of risks faced by agricultural cooperatives in financing agriculture in the study area. Other causes include adverse changes in commodity prices (48.6%), disaster (45.7%), among others. It was found that risks adversely influence the profitability and competition of agricultural cooperatives (82.9%). Multiple regression analysis results showed that the coefficient of multiple determinations was 0.67, implying that the explanatory variables included in the model accounted for 67% of the variation in the level of profitability of agricultural cooperatives. The number of loans, average amount of loan and the interest rate were significant and important determinants of profitability of the cooperatives. The majority of the respondents (88.6%) made use of loan guarantors as a strategy of managing loan default/no repayment. It was found that the majority (70%) of the respondents were faced with the challenge of lack of insurance cover. The study recommends that agricultural cooperative officials should be encouraged to undergo formal training and education to easily acquire administrative skills in the management of agricultural loans; Farmer's loan size should be increased and released on time to enable them to use it effectively. Policies that enhance insuring farm activities should be put in place to discourage farmers from risk aversion.

Keywords: agriculture, analysis, cooperative, finance, risks

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Authors: Nihal Chandratilaka Matara Arachchige, Nishantha Sampath Punichihewa

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Intellectual property (IP) assets are the ‘crown-jewels’ of innovation-driven businesses in the knowledge-based economy. In that sense, IP rights such as patents, trademarks and copyrights afford enormous economic opportunities to an enterprise, especially Small and Medium Enterprise (SME). As can be gleaned from the latest statistics, the domestic industries in Sri Lanka are predominantly represented by SMEs. Undeniably, in terms of economic contribution, the SME sector is considered to be the backbone of the country’s ‘real economy’. However, the SME sector in Sri Lanka faces number of challenges. One of the nearly-insurmountable-hurdles for small businesses is the access to credit facilities, due to the lack of collateral. In the eyes of law, the collateral is something pledged as security for repayment in the event of default. Even though the intellectual property rights are used as collateral in order to facilitate obtaining credit for businesses in number of Asian jurisdictions, financial institutions in Sri Lanka are extremely reluctant to accept IP rights as collateral for granting financial resources to SMEs. Against this backdrop, this research investigates from a legal perspective reasons for not accepting IP rights as collateral when granting loans for SMEs. Drawing emerging examples from other jurisdiction, it further examines the inadequacies of existing legal framework in relation to the use of IP rights as collateral. The methodology followed in this paper is qualitative research. Empirical research and analysis concerning the core research question are carried out by conducting in-depth interviews with stakeholders, including leading financial institutions in Sri Lanka.

Keywords: intellectual property assets, SMEs, collaterals financial facilities, credits

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Authors: Tadele Tesfay Teame, Tsegaye Abrehame, Hágen István Zsombor

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Liquidity is one of the main concerns for banks, and thus achieving the optimum level of liquidity is critical. The main objective of this study is to discover the driving force of selected private commercial banks’ liquidity. In order to achieve the objective explanatory research design and quantitative research approach were used. Data has been collected from a secondary source of the sampled Ethiopian private commercial banks’ financial statements, the National Bank of Ethiopia, and the Minister of Finance, the sample covering the period from 2011 to 2022. Bank-specific and macroeconomic variables were analyzed by using the balanced panel fixed effect regression model. Bank’s liquidity ratio is measured by the total liquid asset to total deposits. The findings of the study revealed that bank size, capital adequacy, loan growth rate, and non-performing loan had a statistically significant impact on private commercial banks’ liquidity, and annual inflation rate and interest rate margin had a statistically significant impact on the liquidity of Ethiopian private commercial banks measured by L1 (bank liquidity). Thus, banks in Ethiopia should not only be concerned about internal structures and policies/procedures, but they must consider both the internal environment and the macroeconomic environment together in developing their strategies to efficiently manage their liquidity position and private commercial banks to maintain their financial proficiency shall have bank liquidity management policy by assimilating both bank-specific and macro-economic variables.

Keywords: liquidity, Ethiopian private commercial banks, liquidity ratio, panel data regression analysis

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Authors: Ying Chern Yeoh, Mark J. Forshaw

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Although hypnosis has been widely endorsed in Europe since 1950s, it was still viewed as a typically new therapy in Asia. There are very little findings regarding hypnosis in Asian countries, especially in culturally diverse countries such as Malaysia. The knowledge of the beneficial effects of hypnosis was not widespread to the public, however knowledge of the negative effects was frequently being highlighted. Therefore, the acceptance of hypnosis as a new effective health treatment can be a challenge in Malaysia. Recognising Malaysian’s perception, belief and attitude towards hypnosis could increase the public awareness of hypnosis, which in turn will alter their misconception and increase acceptance of hypnosis as an effective therapy. Eight individuals (N = 8) from the general public with different background, ethnicity (Malays, Chinese and Indians) and religion (Islamic, Buddhism, Hinduism, Taoism, Christianity, free-thinker) and two local experienced practitioners with minimum of five years experiences (N = 2) were being interviewed to determine their views, beliefs and level of acceptance towards hypnosis. Semi-structured interviews were conducted, transcribed with pseudonyms and analyzed by using Interpretative Phenomenological Analysis. The three emergent themes were illustrated under the captions of ‘traditional vs mainstream’, ‘myths vs truth’, and ‘dissemination and public awareness’. The finding suggested that individual knowledge and personal experience primarily influenced people’s level of acceptance towards hypnosis as a beneficial health treatment, rather than the diversity of cultural and religious background. Subsequent findings regarding hypnosis and the effort of promoting it will provide the society an opportunity to increase public education and health awareness. Several associations had started to advance its development by organizing conferences and setting up therapeutic centers. However, health promotion on hypnosis is yet to be conducted to raise public awareness of its beneficial effects. By requesting for hypnosis to be included as a subject in medical education and psychology curriculum and formatting it under Ministry of Health’s legislation body might enhance the knowledge of hypnosis for Malaysian as one of the health intervention in the future.

Keywords: awareness, hypnosis, intervention, Malaysian, promotion

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Authors: S. Jabeen

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Though Pakistan has a rich cultural history and a diverse population; its global image is tarnished with labels of Muslim ‘fundamentalism’ and ‘extremism.’ Cultural policy is a tool that can be used by the government of Pakistan to ameliorate this image, but instead, this fundamentalist reputation is reinforced in the 2005 draft of Pakistan’s cultural policy. With its stern focus on a homogenized cultural identity, this 2005 draft bases itself largely on forced participation from the largely Muslim public and leaves little or no benefits to them or cultural minorities in Pakistan. The effects of this homogenized ‘Muslim’ identity linger ten years later where the study and celebration of the cultural heritage of Pakistan in schools and educational festivals focus entirely on creating and maintaining a singular ‘Islamic’ cultural identity. The current lack of inclusion has many adverse effects that include the breeding of extremist mindsets through the usurpation of minority rights and lack of safe cultural public spaces. This paper argues that Pakistan can improve social inclusivity and boost its global image through cultural policy. The paper sets the grounds for research by surveying the effectiveness of different cultural policies across nations with differing socioeconomic status. Then, by sampling two public literary festivals in Pakistan as case studies, the National Youth Peace Festival hosted with a nationalistic agenda using public funds and the Lahore Literary Festival (LLF) that aims to boost the cultural literacy scene of Lahore using both private and public efforts, this paper looks at the success of the private, more inclusive LLF. A revision of cultural policy is suggested that combines public and private efforts to host cultural festivals for the sake of cultural celebration and human development, without a set nationalistic agenda. Consequently, this comparison which is grounded in the human capabilities approach, recommends revising the 2005 draft of the Cultural Policy to improve human capabilities in order to support cultural diversity and ultimately contribute to economic growth in Pakistan.

Keywords: cultural policy, festivals, human capabilities, Pakistan

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Authors: Asimiyu Mohammed Jinadu

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Housing is a basic necessity of life. Housing plays a central role in the life of living organisms as it provides the basic platform for the life support systems in human settlements. It is considered a social service and a basic right. Despite the importance of housing, Nigeria as a nation is faced with the problem of quantitative and qualitative shortfall in the number of housing units required to accommodate the citizens. This study examined the accessibility and affordability problems of low-income housing in Nigeria. It relied on secondary data obtained for the records of government ministries and agencies. Descriptive statistics were used in the analysis, and the information was presented in simple tables and charts. The findings show that over the years the government has provided serviced plots of land, owner occupier houses and mortgage loans for the people. As at 2016, the Federal Housing Authority (FHA) has completed a total of 23,038 housing units while another 14, 488 units were on-going under the Public Private Partnership scheme across the country. The study revealed that a total of 910, 671 housing units were proposed by the Government under the various low-income housing programmes between 1960 and 2017, but only 156, 336 units were delivered within the period, representing 17.17% success rate. Amongst others, the low-income group faced the problems of low access to and unaffordability of the few low-income housing delivered in Nigeria. The study recommended that all abandoned housing projects should be reviewed, rationalized, completed and made available to the targeted low-income people. Investment in micro housing finance, design and implementation of pro-poor housing programme and massive investment in innovative slum upgrading programmes by both the government and private sector are also recommended to ameliorate the housing problems of the low-income group in Nigeria.

Keywords: housing, low income group, problem, programme

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Authors: Aysen Muderrisoglu Esiner

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As an intellectual, scholar, bureaucrat, and statesman, Ahmed Cevdet Pasha (1822-1895) was the prominent figure of “Tanzimat” (reorganization) reforms of the Ottoman State while his daughter Fatma Aliye (1862-1936) was a novelist, columnist, essayist, and women’s rights activist. His father had numerous books on law, grammar, linguistics, logic, and astronomy, moreover, Aliye accepted as the first female novelist in the Turkish literature and the Islamic world. Even if she was better known as a novelist, she also published some works on philosophy, Islam, poetry. In addition, Aliye who was one of the pioneers of the Ottoman women’s movement, also wrote historical works. Her historical works which titled as Tarih-i Osmaninin Bir Devre-i Mühimmesi Kosova Zaferi-Ankara Hezimeti (An Important Era of the Ottoman History: Kosova Victory-Ankara Defeat), and Ahmed Cevdet Paşa ve Zamanı (Ahmed Cevdet Pasha and His Time) have been generally ignored in the literature. However, Aliye’s works in history field are worth being studied in terms of her methodological approach to the Ottoman historiography. On the other hand, written by Ahmed Cevdet Pasha, such as Tarih-i Cevdet (History of Cevdet), Tezâkir (Memoir), Mâruzat (Reports, the events that took place between 1839-1876, 1890), Kısas-ı Enbiya ve Tevârîh-i Hulefa (Retaliation of the Prophets and the History of Calips), Kırım ve Kafkas Tarihçesi (Crimean and Caucasian History) are the most important works in terms of historiography in the 19th century. In contrast to the traditional methodology, Cevdet Pasha brought a new understanding to the Ottoman historiography by making a synthesis between the traditional and modern methods. In this research, the historical works of these two prominent figures of the Ottoman State will be analyzed in terms of their approaches to the Ottoman historiography while evaluating the following questions: to what extent that their use of local and foreign historical sources and their handling of the historical events differ, or if it is possible to talk about a methodological similarities in terms of historiography.

Keywords: Ahmed Cevdet Pasha, Fatma Aliye, historiography, methodology

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Authors: Raymond Awinbilla

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The call for tree planting has long been set in motion by the government of Ghana. The Forestry Commission encourages plantation development through numerous interventions including formulating policies and enacting legislations. However, forest policies have failed and that has generated a major concern over the vast gap between the intentions of national policies and the realities established. This study addresses three objectives;1) Assessing the farmers' response and contribution to the tree planting initiative, 2) Identifying socio-economic factors hindering the development of smallholder plantations as a livelihood strategy, and 3) Determining the level of support available for smallholder tree growers and the factors influencing it. The field work was done in 12 farming communities in Ghana. The article illuminates that farmers have responded to the call for tree planting and have planted both exotic and indigenous tree species. Farmers have converted 17.2% (369.48ha) of their total land size into plantations and have no problem with land tenure. Operations and marketing constraints include lack of funds for operations, delay in payment, low price of wood, manipulation of price by buyers, documentation by buyers, and no ready market for harvesting wood products. Environmental institutions encourage tree planting; the only exception is with the Lands Commission. Support availed to farmers includes capacity building in silvicultural practices, organisation of farmers, linkage to markets and finance. Efforts by the Government of Ghana to enhance forest resources in the country could rely on the input of local populations.

Keywords: livelihood strategy, marketing constraints, environmental institutions, silvicultural practices

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Authors: Chiara De Amicis, Sonia Falconieri, Mesut Tastan

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In this study, we analyze the language employed by Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) during earnings conference calls from a gender perspective. We find evidences that conference calls held by female CEOs and/or CFOs exhibit a higher level of optimism compared to conference calls held by male CEOs and/or CFOs. Moreover, female managers tend to present and discuss firm performances with less vagueness as compared to their male colleagues. We then observe the market reaction around each earnings conference call: while manager optimism is perceived as a good signal by investors, manager vagueness significantly dampens the market reaction around the call. Whether the gender of the CEO and/or the CFO delivering the conference call affects investors’ perceptions about the firm performance is still an open question. Some evidences show that the language employed by female managers conveys more valuable information for market participants as compared to the language employed by their male counterparts. This study contributes to a growing literature in finance and accounting that uses textual analysis to assess the informativeness of corporate disclosure. To our knowledge, this is the first paper that aims at answering the question whether the gender of firm’s top managers does matter when it comes to assess the informativeness of corporate spoken communication. We believe that our results will be of relevance for future research in the field. Moreover, our evidence may be used in support of the debate if a larger participation by women in the management of companies should be encouraged or not.

Keywords: conference calls, even study, gender, market reaction, textual analysis

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Authors: Chew Zhao Hong

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Since the transition of power in 2018, the Malaysian political landscape has experienced substantial shifts and complexities. The decline of the longstanding ruling party, United Malays National Organization (UMNO), following the party rotation, has given rise to splinter parties such as the Indigenous Unity Party (Bersatu), along with the enduring presence of the Pan-Malaysian Islamic Party (PAS) in the northern region of the Malay Peninsula. However, the "Sheraton Move" in 2020 led to the fall of the Pakatan Harapan government and the emergence of Perikatan Nasional, signifying the ascent of a third political force. The 2022 general elections marked Malaysia's entry into a hung parliament, culminating in an intricate negotiation that resulted in a coalition government formed by Pakatan Harapan, Barisan Nasional, and the Sarawak parties alliance (GPS), collectively governing the Malaysian federal administration. During the 2023 state elections, Pakatan Harapan and Barisan Nasional formed an unprecedented alliance, yet the media framing benefited Perikatan Nasional, even securing substantial support from UMNO's traditional constituencies. In the era of converging new media, Malaysia’s democratization faces new challenges: first, political leaders leveraging media to cultivate unfiltered personas risk inducing populism; second, under the influence of agenda-setting and two-step flow theories, media contributes to polarization; lastly, Malaysia's multi-party system is no longer effectively moderate extreme ideologies into the political center. This study examines the role of media framing and its impact on the democratization process within Malaysia's consociational democracy under a multi-party system and analyzes media discourse before and after the 2023 Malaysian state elections to explore how different parties shape public opinion and political discourse, and how political messages may be amplified or distorted in the process.

Keywords: multi-party system, democratization, elections, political polarization, Malaysia, media framing

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Authors: Dato Surmanidze, Dato Antadze, Tornike Partenadze

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Public online services in Georgia are concentrated on main target segments: public administration, business, population, non-governmental and other interested organizations. Therefore, the strategy of digital Georgia is focused on providing G2C, G2B/B2G, G2NGO and G2G services. In G2C framework sophisticated and high-technological online services have been developed in order to provide passports, identity cards, documentations concerning residence and civil acts (birth, marriage, divorce, child adoption, change of name and surname, death, etc) as well as other services. Websites like my.gov.ge and sda.gov.ge have distance services like electronic application, processing and decision making. In line with international standards automatic services like electronic tenders, product catalogues, invoices and payment have been developed. This creates better investment climate for foreign companies in Georgia in the framework of G2B politics. The website mybusiness.gov.ge creates better conditions for local business. Among electronic services is e-NRMS (electronic system for national resource management) which was introduced by the Ministry of Finance of Georgia. The system was created in order to ensure management of national resources by state and business organizations. It is integrated with bank services and provides G2C, G2B and B2G representatives with electronic services. Also a portal meteo.gov.ge was created which gives electronic services concerning air, geological, environmental and pollution issues. Also worknet.gov.ge should be mentioned which is an electronic hub of information management for employers and employees. The information portal of labor market will facilitate receipt of information, its analysis and delivery to interested people like employers and employees. However, nowadays it’s been two years that only employees portal is activated. Therefore, awareness about the portal, its competitiveness and success is undermined.

Keywords: electronic services, public administration, information technology, information society

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Authors: Byrad Yyelland, Robert Bianchi

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No longer the secret mark of outlaw bikers, criminals, and sailors, tattooing has become mainstream in much of the world. The current study showcases data gathered for a video documentary on the triangulated relationship connecting tattoos as a form of body modification, cultural norms, and personal meanings. This research has revealed that some religious belief systems, Buddhism in Thailand, is one example, connect tattooing with spirituality in an intimate manner. Buddhist monks provide tattoos using traditional bamboo implements and processes, and they pray over the tattoo, infusing magic into the tattoo and consequently, into the body of the receiver. In contrast, although there is no direct mention of tattooing in the Qur’an, many Islamic scholars argue that permanent tattooing is considered haram—forbidden for Muslims. Only the temporary henna is acceptable. In fact, tattooing is illegal in Qatar. Some Indigenous belief systems in Canada adopt a similar stance on the basis that we were all created by the Creator and as such, we do not have the right to alter what the Creator has made. Still other belief systems such as Spiritism in Brazil and mainstream Christianity in the West are more inclined to regard tattooing as a matter of personal choice. It is practically impossible for any culture to resist the dual impacts of time and globalization. Long term cultural change has resulted in mainstream acceptance of tattooing in the west and increased acceptance in Japan. Short-term cultural change is seen in Qatar where tattoos are on on public display amongst expats and migrant laborers. This tolerance of tattooed individuals was clearly evident with the choice of David Beckham as ambassador for the FIFA World Cup and during the corresponding tourist celebrations. Themes uncovered in this multicultural research also include individual meanings attributed to tattoo imagery and processes, experiences of personal empowerment, devotion to family, personal philosophy, gender identity, and aesthetics.

Keywords: culture, norms, tattooing, spirituality, personal motivations and personal meanings

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Authors: Tuba Sari

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One of the major transformations caused by the industrial revolution, technological developments and globalization is undoubtedly acceleration of urbanization process. Globalization, in particular, is one of the major factors that trigger this transformation. In this context, as a result of the global metropolitan city system, multifunctional rising structure forms are becoming undeniable fact of the world’s leading metropolises as the manifestation of prestige and power with different life choices, easy accessibility to services related to the era of technology. The scope of research deals with five different urban centers in İstanbul where high-rise housing is increasing dramatically after 2000’s. Therefore, the research regards multi-centered urban residential pattern being created by high-rise housing structures in the city. The methodology of the research is based on two main issue, one of them is related to sampling method of high-rise housing projects in İstanbul, while the other method of the research is based on the model of Semantics. In the framework of research hypothesis, it is aimed to prove that the character of vertical intensive structuring in Istanbul is based on seeking of different forms and images in the expressive quality, considering the production of existing high-rise buildings in residential areas in recent years. In respect to rising discourse of 'World City' in the globalizing world, it is very important to state the place of Istanbul in other developing world metropolises. In the perspective of 'World City' discourse, Istanbul has different projects concerning with globalization, international finance companies, cultural activities, mega projects, etc. In brief, the aim of this research is examining transformation forms of high-rise housing development in Istanbul within the frame of developing world cities, searching and analyzing discourse and image related to these projects.

Keywords: globalization, high-rise, housing, image

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Authors: Sima Majnooni

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This paper discusses the Green Climate Fund's environmental and social management framework (GCF). The environmental and social management framework ensures the accredited entity considers the GCF's accreditation standards and effectively implements each of the GCF-funded projects. The GCF requires all accredited entities to meet basic transparency and accountability standards as well as environmental and social safeguards (ESMS). In doing so, the accredited entity sets up different independent units. One of these units is called the Grievance Mechanism. When allegations of environmental and social harms are raised in association with GCF-funded activities, affected parties can contact the entity’s grievance unit. One of the most challenging things about the accredited entity's grievance unit is the lack of available information and resources on the entities' websites. Many AEs have anti-corruption or anti-money laundering unit, but they do not have the environmental and social unit for affected people. This paper will argue the effectiveness of environmental and social grievance mechanisms of AEs by using a qualitative approach to indicate how many of AEs have a poor or an effective GRM. Some ESMSs seem highly effective. On the other hand, other mechanisms lack basic requirements such as a clear, transparent, uniform procedure and a definitive timetable. We have looked at each AE mechanism not only in light of how the website goes into detail regarding the process of grievance mechanism but also in light of their risk category. Many mechanisms appear inadequate for the lower level risk category entities (C) and, even surprisingly, for many higher-risk categories (A). We found; in most cases, the grievance mechanism of AEs seems vague.

Keywords: grievance mechanism, vague environmental and social policies, green climate fund, international climate finance, lower and higher risk category

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Authors: Matthias Haerri, Tobias Huettche, Clemens Kustner

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This article discusses the impact of digitization on business valuation. In order to become and remain ‘digital’, investments are necessary whose return on investment (ROI) often remains vague. This uncertainty is contradictory for a valuation, that rely on predictable cash flows, fixed capital structures and the steady state. However digitisation does not make a company valuation impossible, but traditional approaches must be reconsidered. The authors identify four areas that are to be changing: (1) Tools instead of intuition - In the future, company valuation will neither be art nor science, but craft. This does not require intuition, but experience and good tools. Digital evaluation tools beyond Excel will therefore gain in importance. (2) Real-time instead of deadline - At present, company valuations are always carried out on a case-by-case basis and on a specific key date. This will change with the digitalization and the introduction of web-based valuation tools. Company valuations can thus not only be carried out faster and more efficiently, but can also be offered more frequently. Instead of calculating the value for a previous key date, current and real-time valuations can be carried out. (3) Predictive planning instead of analysis of the past - Past data will also be needed in the future, but its use will not be limited to monovalent time series or key figure analyses. With pictures of ‘black swans’ and the ‘turkey illusion’ it was made clear to us that we build forecasts on too few data points of the past and underestimate the power of chance. Predictive planning can help here. (4) Convergence instead of residual value - Digital transformation shortens the lifespan of viable business models. If companies want to live forever, they have to change forever. For the company valuation, this means that the business model valid on the valuation date only has a limited service life.

Keywords: business valuation, corporate finance, digitisation, disruption

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Authors: Angela Mathias Kavishe

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Sexual harassment directed at women is reported in many societies, including in Tanzania. The advent of ICT technology, especially in universities, seems to aggravate the situation by extending harassment to cyberspace in various forms, including cyberstalking. Evidence shows that online violence is more dangerous than physical one due to the ability to access multiple private information, attack many victims, mask the perpetrator's identity, suspend the threat for a long time and spread over time and space. The study aimed to measure the magnitude of cyber harassment in Tanzanian higher learning institutions and to assess institutional sensitivity to ICT-mediated gender-based violence. It was carried out in 4 higher learning institutions in Tanzania: Mwalimu Nyerere Memorial Academy and Institute of Finance Management in Dar es Salaam and SAUT, and the University of Dodoma, where a survey questionnaire was distributed to 400 students and 40 key informants were interviewed. It was found that in each institution, the majority of female students experienced online harassment on social media perpetrated by ex-partners, male students, and university male teaching staff. The perpetrators compelled the female students to post nude pictures, have sexual relations with them, or utilize the posted private photographs to force female students to practice online or offline sexual relations. These threats seem to emanate from social-cultural beliefs about the subordinate position of women in society and that women's bodies are perceived as sex objects. It is therefore concluded that cyberspace provides an alternative space for perpetrators to exercise violence towards women.

Keywords: cyberstalking, embodiment, gender-based violence, internet

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Authors: Aishat Abdul-Qadir Zubair

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Background: The absence of Shari’ah screening methodology for companies in Nigeria has further engineered the uncertainty surrounding the acceptability of investing in certain companies by people professing the religion of Islam due to the nature of the activities carried out by these companies. There are some existing shariah screening indices in other jurisdictions whose criteria can be used to check if a company or business is shariah-compliant or not. Examples such as FTSE, DJIM, Standard and Poor to mention just a few. What these indices have tried to do is to ensure that there are benchmarks to check with before investing in companies that carry out mixed activities in their business, wherein some are halal and others may be haram. Purpose: There have been numerous studies on the need to adopt certain screening methodologies as well as call for new methods in screening companies for shariah compliance in order to suit the investments needs of Muslims in other jurisdictions. It is, however, unclear how suitable these methodologies will be to Nigeria. This paper, therefore, seeks to address this gap to consider an appropriate screening methodology to be employed in Nigeria, drawing from the experience of other jurisdictions. Methods: This study employs a triangulation of both quantitative and qualitative methods to analyze the need for Shari’ah screening of companies in Nigeria. The qualitative method is used by way of ijtihad, and this study tries to apply some Islamic Principles of Maqasid al-shari’ah as well as Qawaid al-Fiqiyyah to analyze activities of companies in order to ensure that they are indeed Shari’ah compliant. In addition, using the quantitative data gathered from the interview survey, the perspective of the investors with regards to the need for Shari’ah screening of companies in Nigeria is further analyzed. Results: The result of the study shows that there is a lack of awareness from the teeming Muslim population in Nigeria on the need for Shari’ah screening of companies in Nigeria. The result further shows that there is the need to take into cognizance the peculiar nature of company activities in Nigeria before any particular Shari’ah screening methodology is adopted and setting the necessary benchmarks. Conclusion and Implications: The study concludes that there is the need to ensure that the conscious Muslims in Nigeria screen companies for Shari’ah compliance so that they can easily identify the companies to invest in. The paper, therefore, recommends that the Nigerian government need to come up with a screening methodology that will suit the peculiar nature of companies in Nigeria. The study thus has a direct implication on the Investment regulatory bodies in Nigeria such as the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN) as well as the investor Muslims.

Keywords: Shari'ah screening, Muslims, investors, companies

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Authors: Masooma Al-Balushi, Tamer Mohamed Atef

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The Sultanate of Oman is located on the South-eastern tip of the Arabian Peninsula. It is bordered by the Gulf of Oman and the Arabian Sea and has borders with the United Arab Emirates, Saudi Arabia and Yemen. Arabic is the official language. Islam is the official religion. Islam has a great impact on most Omanis, Shari’a law is the law of Oman. The tribal structure plays an essential role in the lives of Omanis. Most people in the Gulf States bear a tribal name rather than a family name. Religion, tribe, and family are highly influential in shaping individuals’ values and behaviors, and have a very noticeable influence on a person’s career choices. Tourism development has been given special attention by the Sultanate of Oman’s government aspiring that the industry would assist in creating direct job opportunities as well as boost the economy through provision of hard currency to improve the balance of payments. This study aims to assess the impact of socio-cultural and religious factors on Omanis employment in the hotel sector. The socio-cultural and religious factors have serious impacts on Omani employment in the hotel sector. Some employees are concerned about the source of income because of the idea that since the hotel business is based on activities such as serving alcohol and pork, gambling, and accommodating unmarried couples, their source of income would be questionable religion wise. For females, the designated job uniform and the interaction with males are major concerns. Ability to fulfil family obligations for married Omanis, and marriage opportunity for singles were other raised concerns. Whilst the future prosperity of the hotel industry depends on the quality of its people, in Oman, the hospitality industry has failed, for a number of reasons, to project an image that could generate interest amongst Omanis. Furthermore, the characteristics and the very nature of the hotel sector are in direct conflict with Islamic doctrines which are embedded in Omani life and society.

Keywords: culture, society, hotel, hospitality, Islam, Oman

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Authors: Rameesha Javaid

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Balochistan, the largest landmass named after and dominated by the 55% Baloch population, which has had a difficult anti-center history like their brothers the Kurds of Middle East, reluctantly acceded to Pakistan in 1947. The region, which attained the status of a province after two decades of accession, has lagged behind in social development and economic growth as compared to the other three federating units. The province has seen the least financial autonomy and administrative decentralization both in autocratic and democratic dispensations under geostrategic and security considerations. Significant corrections have been recently made in the policy framework through changing the formula for intra-provincial National Finance Award, curtailing the number of subjects under federal control, and reactivating the Council of Common Interests. Yet policymaking remains overwhelmingly bureaucratic under a weak parliamentary oversight. The provincial coalition governments are unwieldy and directionless. The government machinery has much less than the optimal capability, character, integrity, will, and opportunity to perform. Decentralization further loses its semblance in the absence of local governments for long intervals and with the hold of hereditary tribal chiefs. Increased allocations failed to make an impact in the highest per capita cost environment due to long distances and scattered settlements. Decentralization, the basic ingredient of federalism has remained mortgaged to geo-strategic factors, internal security perceptions, autocratic and individualistic styles of governments, bureaucratic policymaking structures, bad governance, non-existent local governments, and feudalistic tribal lords. This suboptimal federalism speaks for the present underdevelopment in Balochistan and will earmark the milestones in the future.

Keywords: Balochistan, economic development, federalism, political economy

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Authors: Godiya Pius Atsiya

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One of the most devastating impacts of terrorism on the Nigerian state is the danger it has posed on women, children and other vulnerable groups. The complexity of terrorism in Nigeria, especially in most parts of Northern Nigeria has entrenched unprecedented security challenges such as refugee crisis, kidnapping, food shortages, increase in death tolls, malnutrition, fear, rape and several other psychological factors. Of particular interest in this paper as it relates to terrorism is the high rate of Internally Displaced Persons(IDPs), with women, children and the aged being the most affected. Empirical evidence arising from recent development in Nigeria’s North-East geo-political zone shows that large numbers of refugees fleeing the Boko Haram attacks have doubled. The attendant consequences of this mass exodus of people in the affected areas are that the victims now suffer untold and unwarranted economic hardship. In another dimension, recent findings have it that most powerless women and young teenage girls have been forcefully conscripted into the Islamic extremist groups and used as shields. In some respect, these groups of people have been used as available tools for suicide bombing and other criminal tendencies, the result of which can be detrimental to social cohesion and integration. This work is a theoretical insight into terrorism discourses; hence, the paper relies on existing works of scholars in carrying out the research. The paper argues that the implications of terrorism on women gender have grounding effects on the moral psyche of women who are supposed to be home managers and custodians of morality in society. The burden of terrorism and all it tends to propagate has literally upturned social lives and hence, Nigeria is gradually being plunged into the Hobesian state of nature. As a panacea to resolving this social malaise, the paper submits that government and indeed, all stakeholders in the nation’s democratic project must expedite action to nip this trend in the bud. The paper sums up with conclusion and other alternative policy measures to mitigate the challenges of terrorism in Nigeria.

Keywords: changing democratic state, policy measures, terrorism, women

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Authors: Mohammadreza Delfieh, Seyed Ali Mohammad Modarres Sanavy, Rouzbeh Farhoudi

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Fennel is of most important medicinal plants which is widely used in food and pharmaceutical industries. In order to investigate the effect of different nitrogen nutritional systems including chemical, organic and biologic ones at different plant densities on yield, yield components and seed essential oil content and yield of this valuable medicinal plant, a field experiment was carried out in 2013-2014 agricultural season at Islamic Azad University of Shoushtar agricultural college in split plot design with 18 treatments and based on completely randomized blocks design. Different nitrogen system treatments consisting of: 1. N1 or control (Uniformly spreading urea fertilizer in the plot, 50% at planting time and 50% at stem elongation), 2. N2 (Uniformly spreading 50% of urea fertilizer in the plot at planting time and spraying the other 50% of urea fertilizer at stem elongation on fennel foliage), 3. N3 or cow manure, 4. N4 or biofertilizer (Inoculation of fennel seeds with Azotobacter and Azospirillum), 5. N5 or Integrated-1 (Cow manure + uniformly spreading urea fertilizer in the plot at stem elongation), 6. N6 or Integrated-2 (Cow manure + Inoculation of fennel seeds with Azotobacter and Azospirillum) were applied to the main plots. Three fennel densities consisting of: 1. FD1 (60 plant/m2), 2. FD2 (80 plant/m2) and 3. FD3 (100 plant/m2) were applied to subplots. Results showed that all of the traits were significantly affected by applied treatments (P 0.01). The interaction between treatments also were significant at 5 percent level for shoot dry weight and at 1 percent level for other traits. Based on the results, using the Integrated-1 treatment at 100 plant per m2 produced 94.575 g/m2 seed yield containing 3.375 percent of essential oil. Utilization of such combination not only could lead to a desirable fennel quantity and quality, but also is more consistent with environment.

Keywords: fennel (foeniculum vulgare mill.), nutritional system, nitrogen, biofertilizer, organic fertilizer, chemical fertilizer, density

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Authors: Ali Abu Ali, Mohammad Salhab

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Introduction: In the Middle East and North Africa (MENA) microfinance struggles to find momentum. The Lebanese economy has been struggling through the years due to domestic and external, political and social instability. Although as of 2014 there are around 23 MFIs that are mainly subsidized by the USAID, operating in the country, the Lebanese microfinance market is mostly dominated by three microfinance institutions: Al Majmoua, Vitas, and Al Quard Al Hassan Association. Methodology: A quantitative approach using a standardized questionnaire would analyse the perception of the average Lebanese towards microfinance. A questionnaire was designed and validated. Results: Almost half of the respondents earn a monthly income ranged between $100 and $600. Almost 52% of the respondents were university graduates, around 25% finished secondary and high school, and 12% hold a masters or MBA degree. Topic understanding towards microfinance differs across Lebanese areas. The highest percentage of respondents who claim that microfinance offers financial services to low income people are the residents of Beirut (35.1%), Bekaa (30.8%), and South of Lebanon (24.7%). Higher levels of topic understanding were associated with lower levels of age range. Al Quard el Hassan foundation was regarded as the most known micro financial institution operating in Lebanon. In general, Lebanese people tend to believe that microfinance can play an important role in reducing unemployment rates and poverty levels in Lebanon. When people were asked what would motivate you to get a loan from MFIs, most of the respondent (57.4%) across all the Lebanese region claimed that it was the need for money to satisfy a need such as paying back a loan, to fix something at home, or for self-consideration like buying a car. Conclusion: Our findings showed that in general Lebanese tend to have a positive perception towards microfinance. However, most Lebanese perceive microfinance as the process of just providing loans without specifying for whom it is intended. We advise that government introduces laws to regulate the microfinance market.

Keywords: microfinance, economics, finance, business, analysis, theory

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Authors: Paula M. Lantz

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In the United States, significant socioeconomic and racial inequalities exist in many population-based indicators of health and social welfare. Although a number of effective prevention programs and interventions are available, local and state governments often do not pursue prevention in the face of budgetary constraints and more acute problems. There is growing interest in and excitement about Pay for Success” (PFS) strategies, also referred to as social impact bonds, as an approach to financing and implementing promising prevention programs and services that help the public sector either save money or achieve greater value for an investment. The PFS finance model implements evidence-based interventions using capital from investors who only receive a return on their investment from the government if agreed-upon, measurable outcomes are achieved. This paper discusses the current landscape regarding social impact bonds in the U.S., and their potential and challenges in addressing serious health and social problems. The paper presents an analysis of a number of social science issues that are fundamental to the potential for social impact bonds to successfully address social inequalities in health and social welfare. This includes: a) the economics of the intervention and a potential public payout; b) organizational and management issues in intervention implementation; c) evaluation research design and methods; d) legal/regulatory issues in public payouts to investors; e) ethical issues in the design of social impact bond deals and their evaluation; and f) political issues. Despite significant challenges in the U.S. context, there is great potential for social impact bonds as a type of social impact investing to encourage private investments in evidence-based interventions that address important public health and social problems in underserved populations and provide a return on investment.

Keywords: pay for success, public/private partnerships, social impact bonds, social impact investing

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Authors: Izabel Cristina Zattar, Gilberto Passos Lima, Guilherme Schünemann de Oliveira

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In Brazil, there are several institutions committed to the development of new businesses based on product innovation. Among them are business incubators, universities and science institutes. Business incubators can be defined as nurseries for new companies, which may be in the technology segment, discussed in this article. Business incubators provide services related to infrastructure, such as physical space and meeting rooms. Besides these services, incubators also offer assistance in the form of information and communication, access to finance, relationship networks and business monitoring and mentoring processes. Business incubators support not all technology companies. One of the business incubators tasks is to assess the nature and feasibility of new business proposals. To assist this goal, this paper proposes a methodology for evaluating new business using the Analytic Hierarchy Process (AHP). This paper presents the concepts used in the assessing methodology application for new business, concepts that have been tested with positive results in practice. This study counts on three main steps: first, a hierarchy was built, based on new business manuals used by the business incubators. These books and manuals relate business selection requirements, such as the innovation status and other technological aspects. Then, a questionnaire was generated, in order to guide incubator experts in the parity comparisons at all hierarchy levels. The weights of each requirement are calculated from information obtained from the questionnaire responses. Finally, the proposed method was applied to evaluate five new business proposals, which were applying to be part of a company incubator. The main result is the classification of these new businesses, which helped the incubator experts to decide what companies were more eligible to work with. This classification may also be helpful to the decision-making process of business incubators in future selection processes.

Keywords: Analytic Hierarchy Process (AHP), Brazilian companies incubators, technology companies, incubator

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Authors: Mohammad Arifur Rahman

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The research study aims to bring to light the contribution of sir Sayeed Ahmed in the realm of education and literature. Sir Sayeed Ahmed Khan (1817 –1898), commonly known as Sir Sayeed, was an Indian Muslim leader, Islamic modernist, philosopher and social reformer of the nineteenth century. He earned a reputation as a distinguished scholar while working as a jurist for British India. During the Indian Rebellion of 1857, he remained loyal to the British Empire and was noted for his actions in saving European lives. Believing that the future of Muslims was threatened by the rigidity of their orthodox outlook, Sir Sayeed began promoting Western–style scientific education by founding modern schools and journals and organizing Muslim entrepreneurs. He was one of the founders of the Aligarh Movement and Aligarh Muslim University. He began focusing on writing, from his early life, on various subjects, mainly educational issues. He launched his attempts to revive the spirit of progress within the Muslim community of India. Therefore, modern education became the pivot of his movement for the regeneration of the Indian Muslims. Sayeed Ahmed Khan found time for literary and scholarly pursuits. The range of his literary and scholarly interests was very wide, comprising all the major areas: education, law, philosophy, history, politics, archeology, journalism, Muslim modernism, literature, science and culture, mainly based on his comprehensive religious ideas should be well measured in view to making out him and his contribution to the context. The books written by himself and the books composed by him by some of the great writers like Altaf Hussein Hali, Hafee z Malick, Nasim Rashid, and Christian W. Troll were studied to understand him and his contribution. The readers of this paper would benefit from dispelling the hazy ideas about this great man of India who made an immense contribution. Further research should be undertaken to know more about the different sides of his thought and personality. The qualitative and the historical methods are adopted for the accomplishment of the work.

Keywords: thinker, reformer, educator and Philosopher, modernist

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Authors: Izabel Cristina Zattar, Gilberto Passos Lima, Guilherme Schünemann de Oliveira

Abstract:

In Brazil, there are several institutions committed to the development of new businesses based on product innovation. Among them are business incubators, universities and science institutes. Business incubators can be defined as nurseries for new companies, which may be in the technology segment, discussed in this article. Business incubators provide services related to infrastructure, such as physical space and meeting rooms. Besides these services, incubators also offer assistance in the form of information and communication, access to finance, relationship networks and business monitoring and mentoring processes. Business incubators support not all technology companies. One of the business incubators tasks is to assess the nature and feasibility of new business proposals. To assist in this goal, this paper proposes a methodology for evaluating new business using the Analytic Hierarchy Process (AHP). This paper presents the concepts used in the assessing methodology application for new business, concepts that have been tested with positive results in practice. This study counts on three main steps: first, a hierarchy was built, based on new business manuals used by the business incubators. These books and manuals relate business selection requirements, such as the innovation status and other technological aspects. Then, a questionnaire was generated, in order to guide incubator experts in the parity comparisons at all hierarchy levels. The weights of each requirement are calculated from information obtained from the questionnaire responses. Finally, the proposed method was applied to evaluate five new business proposals, which were applying to be part of a company incubator. The main result is the classification of these new businesses, which helped the incubator experts to decide what companies were more eligible to work with. This classification may also be helpful to the decision-making process of business incubators in future selection processes.

Keywords: Analytic Hierarchy Process (AHP), Brazilian companies incubators, technology companies, incubator

Procedia PDF Downloads 381

Authors: M.J. Seddighi, A. Moradchelleh, M. Keyvan

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The ultimate goal in building a city is to provide pleasant, comfortable and nurturing environment as a context of public life. City environment establishes strong connection with people and their surrounding habitant, acting as relevance in social interactions between citizens itself. Urban environment and appropriate municipal facilities are the only way for proper communication between city and citizens and also citizens themselves. There is a need for complement elements between buildings and constructions to settling city life through which the move, comfort, reactions and anxiety will adjust and reflect the spirit to the city. In the surging development of society, urban’ spaces are encountered evolution, sometimes causing the symbols to fade and waste, and as a result, leading to destroy belongs among humans and their physical liquidate. Houses and living spaces exhibit materialistic reflection of life style. In other words, way of life makes the symbolic essence of living spaces. In addition, it is of sociocultural factor of lifestyle, consisting the concepts and culture, morality, worldview, and national character. Culture is responsible for some crucial meaningful needs which can be wide because they depend on various causes such as perception and interpretation of believes, philosophy of life, interaction with neighbors and protection against climate and enemies. The bilateral relationship between human and nature is the main factor that needs to be properly addressed. It is because of the fact that the approach which is taken against landscape and nature has a pertinent influence on creation and shaping the structure of a house. The first response of human in tackling the environment is to build a “shelter” and place as dwelling. This has been a crucial factor in all time periods. In the proposed study, dwelling in Khorasgan’ Stream, as an area located in one of the important historical city of Iran, has been studied. Khorasgan’ Stream is the basic constituent elements of the present architectural form of Isfahan. The influence of Islamic spiritual culture and neighborhood with the historical elements on the dwelling of the selected location, subsequently on other regions of the town are presented.

Keywords: historical architectural elements, dwelling' neighborhood, Khorasgan’ Stream of Isfahan, architecture

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