Search results for: Muslim economists

Authors: Mohammed Isah Shehu

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This paper examined the context of globalization and Islam and accommodation or containment of one by the other. The paper is born out of the misconception and misunderstanding among many people that globalization is purely Western, anti-Islam and that Islam, globalization and Islam are diametrically opposed as such have no places for accommodating each other. The study used secondary sources to gather data. The study found that from its origin, Islam is in the whole context, a globalized religion and the contemporary globalization is already contained by Islam; that while contemporary globalization is centered on Western world, values and preferences (Western civilization, information and communication technology, free markets, trade and investments); some of the major foundation works that are aiding globalization were originally handiworks of past great Muslims (Islamic civilizations, Order of Algebra, tools of Navigation, Calligraphy, Medicine, Astronomy et cetera) whose major values are not Islamic; with globalization the Muslims have greater opportunities of spreading of Islam and practicing it in a most conducive atmosphere, easy and fast linkage with their fellow Muslim brothers wherever they may be; easier and freer world of trade and have the best opportunities to most things. The study however observed that Western contemporary globalization poses threats to religions such as those of globalization of immorality, injustice, trade with anti-Islamic terms and conditions, internationalized crime et cetera. Muslims would have to avoid or be cautious of many things for Islam is a complete religion that has what is forbidden and allowed (halaal and haramm) based on principles of (Shariah, justice to all, humanity and compassion, obedience to and seeking Allah’s pleasure); to Muslims, Contemporary globalization has to be in conformity with original provisions of Islam. The study recommended that Muslims must rise up in seeking knowledge on Islam and all other fields, further intellectual explorations of works by Muslim scholars/thinkers so that any advancement in globalization would be properly domesticated within Islam for the Muslims to make optimum use of any advancement to the benefit of Islam.

Keywords: accommodation, containment, Islam, globalization

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Authors: Angel Adams

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In Australia, the contemporary social construction of hatred against the Islamic community was facilitated through the mainstream media. Australian public figures who have depicted Muslims and Islam not only as potential terrorists but also as incompatible with the country’s values and identities have helped to increase the level of fear against the Islamic community, leading sympathetic far-right movements to shift discussions towards anti-Islamic and anti-Muslim rhetoric. Political opportunities combined with a socially constructed narrative of fear of the ‘other’, introduced during the White Australia Policy of 1901, has allowed extreme and radical far-right movements to justify hate against the contemporary Australian Islamic community. This study aims to answer the following question: How does Australia’s founding provide a fertile environment to the spread of hatred against the contemporary Islamic community? The paper demonstrates that a forged social construct of grievances concerning the Islamic community in Australia has led to a surge in supply of far-right activism to combat what has become a perceived ‘national threat’. In essence, Australia’s history of a fear of the ‘other’ brings challenges to a multicultural society, and can potentially lead to a more unstable socio-political environment where abuse and violence are normalized and more likely to develop. Furthermore, the paper aims to bring a more nuanced understanding of what is considered ‘new far-right’ discourses with shared anti-Islam and anti-Muslim agendas in Australia. The political opportunity structures theory was the mechanism used to determine how new forms of far-right groups have become more mainstream in Australia. Previous studies on far-right groups in Australia have relied on qualitative data, but further empirical research in this area is sorely needed. Above all, this paper clarifies how hatred against minorities can have a negative impact on wider communities and allow a global narrative of ‘us’ versus ‘them’ to erupt from the fringes of society in Australia.

Keywords: Australia, Islamophobia, far-right, nationalism, political opportunity structures, political violence, social construction

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Authors: Ranjit Biswas

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The existing subject Algebra is incomplete to support mathematical computations being done by scientists of all areas: Mathematics, Physics, Statistics, Chemistry, Space Science, Cosmology etc. even starting from the era of great Einstein. A huge hidden gap in the subject ‘Algebra’ is unearthed. All the scientists today, including mathematicians, physicists, chemists, statisticians, cosmologists, space scientists, and economists, even starting from the great Einstein, are lucky that they got results without facing any contradictions or without facing computational errors. Most surprising is that the results of all scientists, including Nobel Prize winners, were proved by them by doing experiments too. But in this paper, it is rigorously justified that they all are lucky. An algebraist can define an infinite number of new algebraic structures. The objective of the work in this paper is not just for the sake of defining a distinct algebraic structure, but to recognize and identify a major gap of the subject ‘Algebra’ lying hidden so far in the existing vast literature of it. The objective of this work is to fix the unearthed gap. Consequently, a different algebraic structure called ‘Region’ has been introduced, and its properties are studied.

Keywords: region, ROR, RORR, region algebra

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Authors: Eunsup Daniel Shim, Jooh Lee

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The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.

Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act

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Authors: Ayesha Agha Shah

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The purpose of a mosque or a place of worship is to build a spiritual relation with God. If the sense of spirituality is not achieved, then sacred architecture appears to be lacking depth. Form and space play a significant role to enhance the architectural quality to impart a divine feel to a place. To achieve this divine feeling, form and space, and unity of opposites, either abstract or symbolic can be employed. It is challenging to imbue the emptiness of a space with qualitative experience. Mosque architecture mostly entails traditional forms and design typology. This approach for Muslim worship produces distinct landmarks in the urban neighborhoods of Muslim societies, while creating a great sense of spirituality. The universal symbolic characters in the mosque architecture had prototype geometrical forms for a long time in history. However, modern mosques have deviated from this approach to employ different built elements and symbolism, which are often hard to be identified as related to mosques or even as Islamic. This research aims to explore the sense of spirituality in modern mosques and questions whether the modification of geometrical features produce spirituality in the same manner. The research also seeks to investigate the role of ‘geometry’ in the modern mosque architecture. The research employs the analytical study of some modern mosque examples in the Kingdom of Bahrain, reflecting on the geometry and symbolism adopted in the new mosque architecture design. It buttresses the analysis by the engagement of people’s perceptions derived using a survey of opinions. The research expects to see the significance of geometrical architectural elements in the mosque designs. It will find answers to the questions such as; what is the role of the form of the mosque, interior spaces and the effect of the modified symbolic features in the modern mosque design? How can the symbolic geometry, forms and spaces of a mosque invite a believer to leave the worldly environment behind and move towards spirituality?

Keywords: geometry, mosque architecture, spirituality, symbolism

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Authors: Aziz Zulazmi Samsudin, Siti Norhedayah Abdul Latif

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The lack of normalization of mental health as a conversational topic is becoming increasingly evident in certain cultures. The fact that students underutilize mental health services in schools can be attributed to the presence of various barriers that impede their willingness to seek for help. Stigma surrounding mental health services continue to be the most prevalent barrier for help seeking behavior. Alternative barriers have emerged that are both personal and public in nature that can have a substantial impact on students’ preference to seek for help in schools. A sequential explanatory study was carried out among 256 Muslim students in a school with dual education system in exploring both their Self-Stigma of Seeking Help (SSOSH) and Mental Health Help-Seeking Attitude (MHSA). In addition, 12 students were interviewed in a focus group setting to explore further the phenomena of help seeking approach by students to understand the initial quantitative analysis. Preliminary findings indicated that the students’ level of self-stigma was only moderate, but they had a favorable attitude towards counselling help. There was no significant difference on gender for both variables; however, the lower the self-stigma, the higher the mental help-seeking attitude for this current study, which is a common trend of relationship between the two variables. The interview revealed that, apart from public stigma, the absence of a qualified counsellor, a lack of ethical principles of counselling, a confidentiality issue, and the emotional openness of the students were identified as other barriers to their help-seeking attitudes. This paper also discussed the recommendation made by students in addressing barriers to counselling and facilitating their counselling needs for the improvement of students' mental and academic well-being. Additionally, this research offers the most recent data about mental health in the context of schools with a dual education system in Brunei Darussalam. It is hoped to serve as a guide for policy makers to consider the provision of mental health services that is more appealing to the students’ mental and academic well-being.

Keywords: mental health help-seeking attitude (MHSA), public stigma, school counselling, self-stigma, self-stigma of seeking help (SSOSH), well-being.

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Authors: Bozena Leven

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The middle-income trap (MIT) describes a situation faced by countries at a relatively mature stage of development that often poses an obstacle to sustainable long-term growth. MIT is characterized by declining factor productivity from the exhaustion of labor intensive, import and Foreign Direct Investment (FDI) based strategies when middle-income status is achieved. In this paper, we focus on MIT and Poland. In the past two decades, Poland experienced steady growth based largely on imported technologies and low-cost labor. Recently, that economic growth has slowed, prompting economists to ask whether Poland is experiencing MIT. To answer this question, we analyze changes in investment in Poland; specifically- its growth and composition – as well as savings, FDI, educational attainments of the labor force, development of new technologies and products, the role of imports, diversification of exports, and product complexity. We also examine the development of modern infrastructure, institutions (including legal environment) and demographic changes in Poland that support growth. Our findings indicate that certain factors consistent with MIT are gaining importance in Poland, and represent a challenge to that country’s future growth rate.

Keywords: engines of growth, factor productivity, middle income trap, sustainable development

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Authors: Hafiz Atif Iqbal

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It is a confirmed historical fact that Pakistan is an ideological state, and religion has played a very important and vital role in the establishment of Pakistan. This is the reason why the slogan "What does Pakistan mean is "la ilaha illa Allah" is embedded in the heart of every Muslim. This slogan became so popular in the dimensions of India that Movement of Pakistan and this slogan became inseparable, and that is why Quaid-e-Azam said: "Twenty-five percent share in Movement of Pakistan belongs to the creator of this slogan, Asghar Soudai Sialkoti." This slogan later formed the basis of the two-nation theory, whereby the Hindus and Muslims of the sub-continent were declared to be two separate and complete nations, completely different from each other in terms of their religion, affairs, dress, lifestyle, and values. In this regard, on March 23, 1940, at the historic meeting of the Muslim League in Lahore, in which the Lahore Resolution was passed, Quaid-e-Azam said: Islam and Hinduism are not just religions, but actually two different social systems. Therefore, this desire should be called a dream and a dream that Hindus and Muslims will be able to create a common nationality together. These people do not marry each other, nor do they eat at the same table. I say in a nutshell that they belong to two different civilizations, and these civilizations are based on concepts and facts that contradict each other and are against each other. Quaid-e-Azam, while addressing Peshawar in January 1948, said: "We did not demand Pakistan just to get a separate piece of land, but we wanted to get a laboratory where we can test the principles of Islam. The distinction of the concept of Islamic government should be kept in mind that the authority of obedience and loyalty in it is God Almighty, whose practical means of compliance are the rules and principles of the Holy Quran. Only the rules of the Holy Quran can determine the limits of our freedom and restrictions in the state and society. In other words, the Islamic government is the government of Quranic principles and rules. All these facts make it clear that religion has played a fundamental and important role in the establishment of Pakistan.

Keywords: la ilaha illa allah, asghar soudai sialkoti, lahore resolution, quaid-e-azam

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Authors: Miron Wolnicki

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In the past 75 years the world was either influenced by, competing with or learning from U.S. corporations. This is no longer true. As the economic power shifts from the West to the East, U.S. corporations are lagging behind Asian competitors. Moreover, U.S. statecraft fails to address this decline. In a world dominated by interventionist and neo-mercantilist states, having an ineffective non-activist government becomes a costly neoclassic delusion which weakens the world’s largest economy. American conservative economists continue talking about the superiority of the free market system in generating new technologies. The reality is different. The U.S. is sliding further into an overregulated, over-taxed, anti-business state. This paper argues that in order to maintain its economic strength and technological leadership, the U.S. must reform federal institutions to increase support for artificial intelligence and other cutting-edge technologies. The author outlines a number of institutional reforms, under one umbrella, which he calls the American Entrepreneurial State (AES). The AES will improve productivity and bring about coherent business strategies for the next 10-15 years. The design and inspiration for the AES come from the experience of successful statecraft examples in Asia and also other parts the global economy.

Keywords: post-neoliberal system, entrepreneurial state, government and economy, American entrepreneurial state

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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

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Authors: Finbarr Murphy, Wei Xu, Xian Xu

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The embedding of digital technologies in the global economy has attracted increasing attention from economists. With a large and detailed dataset, this study examines the specific case where consumers have a choice between offline and digital channels in the context of insurance purchases. We find that digital channels screen consumers with lower unobserved risk. For the term life, endowment, and disease insurance products, the average risk of the policies purchased through digital channels was 75%, 21%, and 31%, respectively, lower than those purchased offline. As a consequence, the lower unobserved risk leads to weaker information asymmetry and higher profitability of digital channels. We highlight three mechanisms of the risk screening effect: heterogeneous marginal influence of channel features on insurance demand, the channel features directly related to risk control, and the link between the digital divide and risk. We also find that the risk screening effect mainly comes from the extensive margin, i.e., from new consumers. This paper contributes to three connected areas in the insurance context: the heterogeneous economic impacts of digital technology adoption, insurer-side risk selection, and insurance marketing.

Keywords: digital economy, information asymmetry, insurance, mobile application, risk screening

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Authors: Kurotimi Maurice Fems, Abara Onu, Francis W. D. Poazi

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Scholars and development economists believe that the development of an economy depends largely on the creative and innovative ingenuity of its entrepreneurs. Others however, are of the opinion that the lack of entrepreneurs or entrepreneurial activities is not a constraint to economic development in any economy, particularly Nigeria. This paper sets out to explore the connectivity between entrepreneurship and economic development from a theoretical point of view, principally in Nigeria. A desk research approach was adopted where a conglomerate of literatures was reviewed on how entrepreneurship can spur economic growth or otherwise. The findings reveal that entrepreneurship is vital to the development of Nigeria and that, universities and other Higher Education Institutions must play the vital role of educating the people on entrepreneurship skills and competences. However, the problems and difficulties entrepreneurs face in Nigeria and the same problems suffocating the growth and development of its economy. Therefore, entrepreneurship cannot be said to be the sole cure for economic under-development in Nigeria but rather other factors such as empowering and granting the institutions autonomy and the provision of infrastructural capability, such as consistent electricity generation and supply, good system of transportation, implementing proposed economic policies in an effective and efficient manner etc., the cultural beliefs and mindset of the citizenry, was also found to be key in the development of any economy.

Keywords: economic underdevelopment, entrepreneurial, entrepreneurship, infrastructural under-development, oil boom, SMEs, unemployable

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Authors: Abdul Rahman Chamseddine

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Tawfiq al-Hakim remains one of the most prominent playwrights in his native in Egypt, and in the broader Arab world. His works, at the time of their release, drew international attention and acclaim. His first 1933 masterpiece Ahl al-Kahf (The People of the Cave) especially, garnered fame and recognition in both Europe and the Arab world. Borrowing its title from the Qur’anic Sura, al-Hakim’s play relays the untold story of the life of those 'three saints' after they wake up from their prolonged sleep. The playwright’s selection of topics upon which to base his works displays a deep appreciation of Arabic and Islamic heritage. Al-Hakim was clearly influenced by Islam, to such a degree that he wrote the biography of the Prophet Muhammad in 1936 very early in his career. Knowing that Al-Hakim was preceded by many poets and creative writers in writing the Prophet Muhammad’s biography. Notably like Al-Barudi, Ahmad Shawqi, Haykal, Al-‘Aqqad, and Taha Husayn who have had their own ways in expressing their views of the Prophet Muhammad. The attempt to understand the concern of all those renaissance men and others in the person of the Prophet would be indispensable in this study. This project will examine the reasons behind al-Hakim’s choice to draw upon these particular texts, embedded as they are in the context of Arabic and Islamic heritage, and how the use of traditional texts serves his contemporary goals. The project will also analyze the image of Islam in al-Hakim’s imagination. Elsewhere, he envisions letters or conversations between God and himself, which offers a window into understanding the powerful impact of the Divine on Tawfiq al-Hakim, one that informs his literature and merits further scholarly attention. His works occupying a major rank in Arabic literature, does not reveal Al-Hakim solely but the unquestioned assumptions operative in the life of his community, its mental make-up and its attitudes. Furthermore, studying the reception of works that touch on sensitive issues, like writing a letter to God, in Al-Hakim’s historical context would be of a great significance in the process of comprehending the mentality of the Muslim community at that time.

Keywords: Arabic language, Arabic literature, Arabic theology, modern Arabic literature

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Authors: Hakam Junus, Natassha Chrysanti

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The international relations theory currently is dominated by the western theoretical perspectives. Although the western theories are often used by many scholars as the universal perspective to explain the phenomena that occur in the world, sometimes the existing theories are failed to explain various issues that occur in the non-western world, for example, in the studies concerning on terrorism issues. Using inappropriate theories to explain the international issues such as terrorism will cause a failure in the decision-making process. The lack of understanding regarding Islamic perspective could be one of the factors that make international society unable to eradicate violent terrorism in the name of religion. Thus, this paper is argued that considering Islamic perspective as one of the major studies in international relations is significant to build a bridge between the Islamic world and the western world. It is believed that enhancing the study of Islamic perspective will create better understanding of the Islamic world and will enrich the study of international relations. This paper is conducted through a qualitative approach, in which data is obtained from the literature analysis. Considering Islamic perspective is important because Islam is listed as one of the major religions in the world. It is also due to the geopolitical spread of the Muslim in the world and the likelihood of the Islamic perspective to shape and influence Muslim’s behavior in the international level. The study of Islamic perspective in the international level is neither to contempt nor to oppose the existing western theories; rather it is needed in order to broaden the perspective in the international relations studies. The Islamic perspective is different compared to the non-western school of thought such as realism, and liberalism in some respects. The Islamic perspective cannot be explained through the lens of rationalist approaches. Compares to the post-positivism international relations perspectives, Islamic perspective is probably closer to the constructivist school of thought. However, the Islamic perspective offers some uniqueness that is not limited to the socially constructed ideas as in the constructivist arguments. This paper will be developed according to the discussion of three aspects that make Islamic perspective different with the existing international relations theories. The first aspect is the main actors in the international level. The second aspect is regarding on what appears to be the most important point for the actors in the international relations. The third aspect is regarding the pattern of relationship between the actors in the international level. In addition, this paper will briefly discuss the perspective of Islam in economics compare to the existing theories in the realm of international political economy.

Keywords: international relations, Islam, non-western theories, societies

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Authors: Muhamad Rosdi Senam, Khairuddin Abdul Rashid, Azila Ahmad Sarkawi, Rapiah Mohd Zaini

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Islam is a way of life than merely a religion that covers all facets of Muslim affairs and lifes. It provides the most comprehensive values, principles and guidance that are based on divine sources to all mankind in all spheres including leadership. Islamic leadership is all encompassing and holistic model of leadership that offers the tauhidic paradigm, spiritual and ethical (akhlaq) dimensions that are absent in the modern conventional leadership theories. Islamic leadership has a glorious history of great success from the era of the Prophet S.A.W. and the following caliphs that had conquered almost one third of the world territory during that time, as their leadership was paragon of excellence that followed to the spirits and teachings of the Qur’an and the Sunnah. As the modern civilisation designed by the West takes place, the modern leadership theories has been dominating the world and literature including those in the Muslim countries. However, it is clear that values and principles derived from Islam and the West are distinct, as the Islamic ones are based on divine, the non-Islamics are not indeed as there are based on human rational and judgement. Recent development in business organisations and literature have seen the tendency towards moral, ethical, even spiritual and positive form of leadership such as servant leadership, ethical leadership, authentic leadership and spiritual leadership that found its root in the Islamic model of leadership.This development has surfaced after series of serious ethical dilemma, corporate scandals and leadership crisis in the West. This paper aims to draw a comparative discussions and analysis between the modern conventional leadership theories with the Islamic leadership by highlighting the key dimensions that distinguish the two. It is suggested in this paper that the core dimensions of Islamic leadership are spiritual dimension, moral and ethical dimension and physical dimension which is also paralleled with the roles of khalifah of Allah on earth; relationship with Allah, relationship with human beings and relationship with the environment respectively. Islam is a way of life than merely a religion that covers all facets of Muslim affairs and lifes. It provides the most comprehensive values, principles and guidance that are based on divine sources to all mankind in all spheres including leadership. Islamic leadership is all encompassing and holistic model of leadership that offers the tauhidic paradigm, spiritual and ethical (akhlaq) dimensions that are absent in the modern conventional leadership theories. Islamic leadership has a glorious history of great success from the era of the Prophet S.A.W. and the following caliphs that had conquered almost one third of the world territory during that time, as their leadership was paragon of excellence that followed to the spirits and teachings of the Qur’an and the Sunnah. As the modern civilisation designed by the West takes place, the modern leadership theories has been dominating the world and literature including those in the Muslim countries. However, it is clear that values and principles derived from Islam and the West are distinct, as the Islamic ones are based on divine, the non-Islamics are not indeed as there are based on human rational and judgement. Recent development in business organisations and literature have seen the tendency towards moral, ethical, even spiritual and positive form of leadership such as servant leadership, ethical leadership, authentic leadership and spiritual leadership that found its root in the Islamic model of leadership.This development has surfaced after series of serious ethical dilemma, corporate scandals and leadership crisis in the West. This paper aims to draw a comparative discussions and analysis between the modern conventional leadership theories with the Islamic leadership by highlighting the key dimensions that distinguish the two. It is suggested in this paper that the core dimensions of Islamic leadership are spiritual dimension, moral and ethical dimension and physical dimension which is also paralleled with the roles of khalifah of Allah on earth; relationship with Allah, relationship with human beings and relationship with the environment respectively.

Keywords: conventional leadership, Islamic leadership, comparative, dimensions

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Authors: Syed Ahmed Salman

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Ethicality is essential in our daily activities, including personal and commercial activities. This is evidenced by referring to the historical development of the corporate governance and ethical guidelines. The first corporate governance guideline, i.e. Cadbury Report from U.K. focuses the responsibility of board members towards the shareholders only. Gradually, realising the need to take care of the society and community, stakeholders are now concerns of business entities. Consequently, later codes of corporate governance started extending the responsibility to the other stakeholders in addition to the shareholders. One prevailing corporate governance theory, i.e. stakeholder theory, has been widely used in the research to explore the effects of business entities on society. In addition, the Global Reporting Initiative (GRI) is the leading organisation which promotes social care from businesses for sustainable development. Conventionally, history shows that ethics is key to the long term success of businesses. Many organisations, societies, and regulators give full attention and consideration to ethics. Several countries have introduced ethical codes of conduct to direct trade activities. Similarly, Islam and other religions prohibit the practice of interest, uncertainty, and gambling because of its unethical nature. These prohibited practices are not at all good for the society, business, and any organisation especially as it is detrimental to the well-being of society. In order to avoid unethicality in the finance industry, Shari’ah scholars come out with the idea of Islamic finance which is free from the prohibited elements from the Islamic perspective. It can also be termed ethical finance. This paper highlights how Takaful as one of the Islamic finance products offers fair and just products to the contracting parties and the society. Takaful is framed based on ethical guidelines which are extracted from Shari’ah principles and divine sources such as the Quran and Sunnah. Takaful products have been widely offered all over the world, including in both Muslim and non-Muslim countries. It seems that it is gaining acceptance regardless of religion. This is evidence that Takaful is being accepted as an ethical financial product.

Keywords: ethics, insurance, Islamic finance, religion and takaful

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Authors: Said Baadel

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The belief of a heavenly God is enshrined to all Abrahamic religions which form the three major religions of the world today. Muslims believe in Allah who is above the seven heavens. The youth in the United Arab Emirates (UAE) study Islamic courses as part of their high school curriculum and are required to take at least one Islamic course at the university level to gain credit hours towards their general education (GENED). This paper provides an insight of what the youth studying in the UAE think of where Allah was. Our analysis reveals that a big number of Muslim youth were not sure, especially those from the Middle Eastern and Arab countries bringing to the conclusion that this subject needs to be revisited again in the course work.

Keywords: Allah, Islam, Tawheed, religion

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Authors: Syed Sibtain Hussain Shah

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The Afghan Taliban returned to power corridors in Afghanistan in August 2021 after waging a twenty-year insurgency in the country. U.S.-led forces completed their withdrawal from Afghanistan on August 30, 2021, but the Taliban took control of the whole country till August 15, 2021. At the same time, some of the militant groups such as Tehrik-e-Taliban Pakistan (TTP) and Islamic State Khurasan (IS-K) reappeared in Pakistan’s borders and other areas and by increasing attacks on the armed forces of Pakistan and minorities communities. These groups once again created a crucial challenge to the internal security of the country. Since mid of 2021, many of the terrorist incidents in the countries specified in the areas of Pakistan bordering Afghanistan were committed by TTP and IS-K. The aim of this paper is to investigate the reappearance of TTP and IS-K in 2021 and 2022 as a crucial threat to the internal security of Pakistan. The author will particularly probe threats to the security of military personnel and their installations and threats to human security, including danger to religious minority communities in the different areas of the country, including border areas such as Waziristan, which was once a hub of TTP and other militant groups in the 2000s. The author will employ the relevant method and appropriate theories of security studies, such as religious extremism and terrorism, in this study. TTP, inspired by the Afghan Taliban, initially emerged in Pakistan in 2007 and this group has so far targeted various religious and ethnic communities and government installations in Pakistan. The group is not only against Pakistan’s government policies, but it also committed terrorist attacks on the communities of the other Muslim sects and as well as non-Muslim communities. Most of the prominent figures of this violent group disappeared or escaped to Afghanistan after military actions, such as the larger “Zarb-e-Azb” operation in Pakistan in 2015. IS-K, which established its branch of Khurasan covering Pakistan and Afghanistan in 2015, with its main formation in Iraq and Syria in 2015, by targeting religious minorities such as Shia Muslims, has so far created a vital security challenge for the security of the country.

Keywords: Pakistan, Afghanistan, Afghan Taliban, Pakistani Taliban, Islamic state Khorasan, security threat

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Authors: Etibar Guliyev

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The breakdown of the Soviet Union in 1991 has led to a considerable rise in the religious self-consciousness of Muslim population of the Central Asia. Additionally, huge amount of money spent by various states further facilitated the spread of religious ideas. According to some sources, Saudi Arabia spent 87 billion dollars to propagate Wahhabism abroad during two decades, whereas the Communist Party of the Soviet Union spent just over 7 billion dollars to spread its ideology worldwide between 1921 and 1991. As the result, today once a remote area from international politics has turned into third major source of recruitment of fighters for global terrorist organizations. In order to illustrate to scope of the involvement of the Central Asian residents in international terrorist networks it is enough to mention the name of Colonel Gulmorod Khalimov, the former head of the Tajik special police forces who served as ISIS war minister between 2016 and 2017. The importance of the topic stems from the fact that the above-mentioned republics with a territory of 4 million square km and the population of around 80 million people borders Russia, Iran Afghanistan and China. Moreover, the fact that political and military activities motivated with religious feelings in those countries have implications not only for domestic but also for regional and global political relations and all of them has root in politics of religions adds value to the research. This research aims to provide an in-depth analyses of the marked features of the state policies to regulate religious activities and approach this question both from individual, domestic, regional and global levels of analyses. The research will enable us to better understand what implications have the state of religious freedom in post-Soviet Muslim republics for international relations and the rise of global jihadi terrorism. The paper tries to find a linkage between the mentioned terror attacks and underground rise of religious extremism in Central Asia. This research is based on multiple research methods, mainly on qualitative one. The process tracing method is also employed to review religious policies implemented from 1918-1991 and after the collapse of the Soviet Union in a chronological way. In terms of the quantitative method, it chiefly will be used in a bid to process various statistics disseminated in academic and official sources. The research mostly explored constructivist, securitization and social movement theories. Findings of the research suggests that the endemic problems peculiar to authoritarian regimes of Central Asia such as crackdown on the expression of religious believe and any kind of opposition, economic decline, instrumental use of religion and corruption and tribalism further accelerated the recruitment problem. Paper also concludes that the Central Asian states in some cases misused counter-terrorism campaign as a pretext to further restrict freedom of faith in their respective countries.

Keywords: identity, political Islam, religious extremism, security, terrorism

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Authors: Seyedeh Zahra Seyed Sharifi, M. R. M. Tabatabaei

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Due to increase of population and healthy food demand, management and conservation of water resources have become one of the main concerns of governments, scientists and economists. In recent years, Iran has exposed to water scarcity as a result of which its rivers, lakes and wetlands have dried up or are in the drying process. Therefore, water crisis has become the most important environmental issue in the country. Under these circumstances, increasing public awareness by promoting their culture as well as public collaboration to protect water resources could only be possible by making courses to reflect water importance. This could be approached by school and high-school students to learn optimum use of water resources. This study initially focuses on the current position of water courses in levels of school and high-school educations in Iran and Turkey and then deals with the challenges to be faced for the promotion of the system. The course titles and number of pages related to water in all primary and secondary textbooks of the education system of Iran and Turkey were determined using content analysis method and the results were presented. The results indicate that primary and secondary textbooks in both countries must focus on water shortage and water protection and teach children the optimum use of water in order to promote water protection.

Keywords: educational system, environmental awareness, Iran, Turkey, water crisis

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Authors: Masami Usui

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After 9/11, the American literary scene was confronted with new perspectives that enabled both writers and readers to recognize the hidden aspects of their political, economic, legal, social, and cultural phenomena. There appeared an argument over new and challenging multicultural aspects after 9/11 and this argument is presented by a tension of space related to 9/11. In Amy Waldman’s the Submission (2011), designing both the memorial park and the family network has a significant meaning in establishing the progress of understanding from multiple perspectives. The most intriguing and controversial topic of racism is reflected in the Submission, where one young architect’s blind entry to the competition for the memorial of Ground Zero is nominated, yet he is confronted with strong objections and hostility as soon as he turns out to be a Muslim named Mohammad Khan. This ‘Khan’ issue, immediately enlarged into a social controversial issue on American soil, causes repeated acts of hostility to Muslim women by ignorant citizens all over America. His idea of the park is to design a new concept of tracing the cultural background of the open space. Against his will, his name is identified as the ‘ingredient’ of the networking of the resistant community with his supporters: on the other hand, the post 9/11 hysteria and victimization is presented in such family associations as the Angry Family Members and Grieving Family Members. These rapidly expanding networks, whether political or not, constructed by the internet, embody the contemporary societal connection and representation. The contemporary quest for the significance of human relationships is recognized as a quest for global peace. Designing both the memorial park and the communication networks strengthens a process of facing the shared conflicts and healing the survivors’ trauma. The tension between the idea and networking of the Garden for the memorial site and the collapse of Ground Zero signifies the double mission of the site: to establish the space to ease the wounded and to remember the catastrophe. Reading the design of these icons of 9/11 in the Submission means that decoding the myth of globalization and its representations in this century.

Keywords: American literature, cultural studies, globalization, literature of catastrophe

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Authors: Sajjad Ali

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The Quranic pedagogical methods don't imply that the Quran explicitly prescribes teaching methods. Instead, it acknowledges the inherent ways of learning and teaching that align with human nature, offering guidance in this direction. Qur'an briefly describes different angles of acquiring knowledge. Narrative, interrogative, question, analytical, poetic, comparative and critical methods of teaching are briefly described in the Holy Quran. The Muslim Ummah has a firm belief that the Qur'an is a comprehensive book which mentions every dry and wet, but this does not mean that the Qur'an is a manual book. This means that the Qur'an contains symbols and hints about everything. The fact that everything is mentioned in the Qur'an means that the Qur'an only provides guidance, while its interpretation requires contemplation.

Keywords: hadith, knowledge, reality, understanding

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Authors: Sohaib Khaliq

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This paper pursues a systematic analysis of the broad range of theories and studies relevant to Islam and democracy, in general and as they have been developed from and applied to the Indonesian and Pakistani cases. The analysis finds that an Islamic society’s potential to assimilate democratic political institutions is contingent on either an unconstrained 'political participation' or its ability to 'reinterpret' religious text. Drawing on a comparison of Indonesia and Pakistan, the present study favors a route that passes through the religious gates of theoretical reinterpretation. In doing so, the study brings Muslim reformation theory into focus by clarifying the mechanism by which reformation takes place.

Keywords: Islam, democratization, political Islam, reformation

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Authors: Sikiru O. Aminu, Magda Ismail Abdul Mohsin, Fauziah M. Taib

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Fund collections for Waqf projects in some Muslim countries received some boost because of the resuscitation of the cash waqf concept This study envisages that such development can improve the economic empowerment of the poor in contemporary Muslim communities given appropriate collections and effective management of the Waqf institution. Recent developments in the Financial Technology (FINTECH) space portend valuable relevance in the conduct and delivery of social charitable causes such as Waqf around the world. Particularly, emerging areas in FINTECH such as Islamic Crowdfunding (ICF) and blockchain have brought about greater efficiency and effectiveness through cost reduction, faster transactions, wider access, transparency and prompt disclosure of adequate information to relevant stakeholders. These FINTECH options of ICF and blockchain provide veritable opportunities to resuscitate, re-align, synergize and magnify the Islamic Social Finance (ISF) ecosystem of Waqf, Zakat and Sodaqah to generate positive and sustainable impact to the community, environment and the economy at large, with a view to projecting the Maqasid Shari’ah (Objective of the Law Giver). To document the effect of FINTECH on Waqf, this study examined the activities of six banks in Malaysia that signed a pact to utilize FINTECH for waqf collection towards improving the economy. Semi-structured Face to Face interviews were conducted with officers in charge of Waqf in the six banks, founder of the Islamic Crowdfunding platform and senior officers in Waqaf Selangor. Content analysis was used to analyze their responses, and the emergent themes were reported verbatim. Based on the derived themes, survey questionnaires were also administered to 300 customers with respect to the Waqf’s FINTECH functionalities of the identified banks.to further confirm and strengthen the results of the interviews. Simple descriptive analysis was performed on the result of the survey questionnaire to provide clear information on the questions raised. The findings showed a disproportionate level of readiness among the banks, where few of the banks have put structure in place to increase their Waqf collections, others are at their elementary stage. However, the commitment is high across the six banks to achieve their set goals.

Keywords: blockchain, Fintech, Islamic crowdfunding, waqf

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Authors: Gholamreza Nuei, Faisal Ahmad Shah

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The way religion defines people’s identity is quite important in the majority of Muslim countries. Yet, in most such countries the number of Muslims converting to other religions is not documented. The present research investigates a population of Iranians who have converted to Christianity and live in Malaysia. This article focuses on this subgroup of ex-Muslims with the aim of providing a window into how they experience and justify their conversion. The data was collected in Kuala Lumpur, Malaysia. It was carried out through in-depth interviews with 13 people; also 45 people answered a questionnaire (quantitative). The research findings revealed some of the typical religious, social and personal reasons behind the conversion of this group of "ex-Muslims".

Keywords: conversion from Islam to Christianity, apostasy, Iran, Malaysia

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Authors: H. İmrek, O. Corumluoglu, B. Akdemir, I. Sanlioglu

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It is important to be able to determine the heading direction of a moving vehicle with respect to a distant location. Additionally, it is important to be able to direct a rotating platform on a moving vehicle towards a distant position or location on the earth surface, especially for applications such as determination of the Kaaba direction for daily Muslim prayers. GNNS offers some reasonable solutions. In this study, a functional model of such a directing system supported by GNNS is discussed, and an appropriate system is designed for these purposes. An application for directing system is done by using RTK and DGNSS. Accuracy estimations are given for this system.

Keywords: GNNS, orientation of rotating platform, vehicle orientation, prayer aid device

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Authors: Ya'u Saidu

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

Keywords: finance, non-interest, sustainability, enlightenment

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Authors: Vahid Hosseinzadeh

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Salafism is a movement of thought-religion that was born into Sunni Islam and Hanbali sect. However, many groups and different attitudes call themselves Salafis, but they all have common characteristics, the main of which is radical and retrograde interpretation of Islamic sources. Taqi Ad-Din Ahmad ibn Taymiyyah in the Muslim world was the first thinker who established these thoughts. The authors of this article initially tried to express the meaning of Salafism and its appellation in order to focus on the beliefs and thoughts of Ibn Taymiyyah. In this way, it was tried to extract the intellectual foundations of Ibn Taymiyya from the literature and scientific works of his own using a descriptive-analytical method. Extreme focus on the appearance of Quranic phrases and opposition to any new thing that did not exist in Qur'an, Sunnah and the first 3 centuries of Islam, are among the central feature of his thoughts.

Keywords: Salafism, Ibn Taymiyyah, radical literalism, monotheism, polytheism, takfir

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Authors: Nurul Hidayat

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Based on the data from the Indonesian Tax Authority, the contribution of self-employed taxpayers in Indonesia is just approximately 1-2 percent of total tax revenues during 2013 - 2015. This phenomenon requires greater attention to understand what factors that may affect it. The fact that Indonesia has the most prominent Muslim population in the world makes it important to analyze whether there potentially exists a correlation between Islamic religiosity and low tax contribution. The low level of tax contribution may provide an initial indication of low tax morale and tax compliance. This study will extend the existing literature by investigating the influence of Islamic religiosity as a moderating effect on the relationship between the perceptions of government legitimacy and tax morale among self-employed taxpayers. There are some factors to consider when taking into account the issue of Islamic religiosity and its relationship with tax morale in this study. Firstly, in Islam, there is a debate surrounding the lawfulness of tax. Some argue that Muslims should not have to pay tax; while others argue that the imposition of the tax is legitimate in circumstances. These views may have an impact on government legitimacy and tax morale. Secondly, according to Islamic sharia, Islam recognizes another compulsory payment, i.e. zakat, which to some extent has similar characteristics to tax. According to Indonesian Income Tax Law, zakat payment has just been accommodated as a deduction from taxable income. As a comparison, Malaysia treats zakat as a tax rebate. The treatment of zakat only as a taxable income deduction may also lead to a conflicting issue regarding the perception of tax fairness that possibly erode the perception of government legitimacy and tax morale. Based on the considerations above, perceptions of government legitimacy become important to influence the willingness of people to pay tax while the level of Islamic religiosity has a potential moderator effect on that correlation. In terms of measuring the relationship among the variables, this study utilizes mixed-quantitative and qualitative methods. The quantitative methods use surveys to approximately 400 targeted taxpayers while the qualitative methods employ in-depth interviews with 12 people, consist of experts, Islamic leaders and selected taxpayers. In particular, the research is being conducted in Indonesia, the country with the largest Muslim population in the world which has not fully implemented Islamic law as state law. The result indicates that Islamic religiosity becomes a moderating effect on the way taxpayers perceived government legitimacy that finally influences on tax morale. The findings of this study are supportive for the improvement of tax regulations by specifically considering tax deductions for zakat.

Keywords: Islamic religiosity, tax morale, government legitimacy, zakat

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Authors: Ahmet Sekreter

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Although there are conceptual similarities in terms of financial products between conventional and Islamic finance, they are entirely different financial systems. Despite Islamic finance’s small size in the conventional finance world, its promising growth makes Islamic finance a hot topic both in academia and business world. Today customers can access sophisticated Islamic financial products not only in Muslim countries but also in Europe. This study analyzes Islamic finance and its products and includes a brief overview of Islamic finance in Europe. Literature review is the basis of this paper. The author analyzed the academic papers, numerical data, and estimations to set a perspective for the future of Islamic finance in Europe. Findings show that UK is the main hub for the Islamic finance, and it will remain so in the near future.

Keywords: islamic finance, islamic banking, islamic finance in Europe, finance

Procedia PDF Downloads 213