Search results for: Islamic banking rofitability

Authors: Imbesat Daudi

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One of the most discussed topics of the last century happens to be if Islamic civilization is violent. Many Western intellectuals have promoted the notion that Islamic civilization is violent. Citing 9/11, in which 3000 civilians were killed, they argue that Muslims are prone to violence because Islam promotes violence. However, Muslims reject this notion as nonsense. This topic has not been properly addressed. First, violence of civilizations cannot be proven by citing religious texts, which have been used in discussions over civilizational violence. Secondly, the question of whether Muslims are violent is inappropriate, as there is implicit bias suggesting that Islamic civilization is violent. A proper question should be which civilization is more violent. Third, whether Islamic civilization is indeed violent can only be established if more war-related casualties can be documented within the borders of Islamic civilization than that of their cohorts. This has never been done. Finally, the violent behavior of Muslim countries can be examined by comparing acts of violence committed by Muslim countries with acts of violence of groups of nations belonging to other civilizations by appropriate parameters of violence. Therefore, parameters reflecting group violence have been defined; violent conflicts of various civilizations of the last two centuries were documented, quantified by number of conflicts and number of victims, and compared with each other by following the established principles of statistics. The results show that whereas 80% of genocides and massacres were conducted by Western nations, less than 5% of acts of violence were committed by Muslim countries. Furthermore, the West has the highest incidence (new) and prevalence (new and old) of violent conflicts among all groups of nations. The result is unambiguous and statistically significant. Becoming informed can only be done by a methodical collection of relevant data, objective analysis of data, and unbiased information, a process which this paper follows.

Keywords: Islam and violence, demonization of Muslims, violence and the West, comparison of civilizational violence

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Authors: Vladimir A. Rozov

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Comparative studies of religion and ritual could contribute better understanding of human culture universalities. Belief in supernatural beings seems to be a common feature of the religion. A significant part of the Islamic concepts that concern supernatural beings is based on a tradition based on the Hadiths. They reflect, among other things, his ideas about a proper way to interact with supernatural beings. These ideas to a large extent follow from the pre-Islamic religious experience of the Arabs and had been reflected in a number of ritual actions. Some of those beliefs concern a particular function of clothing. For example, it is known that Muhammad was wrapped in clothes during the revelation of the Quran. The same thing was performed by pre-Islamic soothsayers (kāhin) and by rival opponents of Muhammad during their trances. Muhammad also turned the clothes inside out during religious rituals (prayer for rain). Besides these specific ways of clothing which prove the external similarity of Muhammad with the soothsayers and other people who claimed the connection with supernatural forces, the pre-Islamic soothsayers had another characteristic feature which is physical flaws. In this regard, it is worth to note Muhammad's so-called "Seal the Prophecy" (h̠ ātam an- nubūwwa) -protrusion or outgrowth on his back. Another interesting feature of Muhammad's behavior was his attitude to eating onion and garlic. In particular, the Prophet didn`t eat them and forbade people who had tasted these vegetables to enter mosques, until the smell ceases to be felt. The reason for this ban on eating onion and garlic is caused by a belief that the smell of these products prevents communication with otherworldly forces. The materials of the Hadith also suggest that Muhammad shared faith in the apotropical properties of water. Both of these ideas have parallels in other cultures of the world. Muhammad's actions supposed to provide an interaction with the supernatural beings are not accidental. They have parallels in the culture of pre-Islamic Arabia as well as in many past and present world cultures. The latter fact can be explained by the similarity of the universal human beliefs in supernatural beings and how they should be interacted with. Later a number of similar ideas shared by the Prophet Muhammad was legitimized by the Islamic tradition and formed the basis of popular Islamic rituals. Thus, these parallels emphasize the commonality of human notions of supernatural beings and also demonstrate the significance of the pre-Islamic cultural context in analyzing the genesis of Islamic religious beliefs.

Keywords: hadith, Prophet Muhammad, ritual, supernatural beings

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Authors: Raif Parlakkaya, Huseyin Cetin, Duygu Irdiren

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By the development of World Wide Web, the usage rate of Internet has rapidly grown globally; and provided a basis for the emergence of electronic business. As well as other sectors, the banking sector has adopted the use of internet with the developments in information and communication technologies. Due to the public disclosure and transparency principle of Corporate Governance, the importance of information disclosure of banks on their web sites has increased significantly. For the purpose of this study, a Bank Disclosure Attribute Index (BDAI) in Turkey has been constructed through classifying the information disclosure on banks’ web sites into general, financial, investors and corporate governance attributes. All 47 banks in Turkish Banking System have been evaluated according to the index with the aim of providing a comparison between banks. By Chi Square Test, Pearson Correlation, T-Test, and ANOVA statistical tools, it has been concluded that the majority of banks in Turkey have shared information on their web sites adequately with respect to their total index score. Although there is a positive correlation between various types of information on banks’ web sites, there is no uniformity among them. Also, no significant difference between various types of information disclosure and bank types has been observed. Compared with the total index score averages of the five largest banks in Turkey, there are some banks that need to improve the content of their web sites.

Keywords: internet banking, websites evaluation, customer adoption, Turkey

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Authors: Javid Zarei

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International buyback contracts are a type of contract service. These kinds of contracts are the most important instrument for attracting foreign investors in accordance with Iran's laws. These contracts have been the basis of commercial and economic relations between Iran and foreign companies for about 30 years. The legal structure of this type of contract has gradually evolved, so today, an advanced generation of it under the title of Iran Petroleum Contract is being used in the industry of Iran. This article has analytically examined the issue of Iran's commercial contracts in the oil industry and contracting services and allocated sections to examine the strengths and weaknesses of these oil contracts. Also, this research is an attempt to examine and compare the Concession regime with the Buyback contracts, each of which is derived from the common law legal system and the Islamic legal system, respectively.

Keywords: buyback contracts, concession regime, ownership, common law legal system, Islamic legal system of Iran

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Authors: Fahreza, Yudhi Herliansyah, Harnovinsah

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This study aims to examine how management compensation and auditor reputation effect on corporate tax management in banking using a sample banking companies listed in Indonesia Stock Exchange. At first, this study examines how the influence of management compensation on the implementation of tax management that may be made by management in order to improve the performance of the company. Second, this study also examines the effect of auditor reputation conducting audit on the implementation of the tax management. The population used in this study is the banking companies listed in Indonesia Stock Exchange. The method used was purposive sampling because the samples of this study have certain criteria that are tailored to the purpose of the study. Based on purposive sampling method, the number of samples in this study is 28 samples. Hypothesis tested using multiple regression analysis. The results of this study indicate that on the 5 % significance level, management compensation significantly influenced tax management as measured using the proxy book tax gap. Other result is management compensation does not significantly affect the tax management that measured using a proxy GAAP effective tax rate. In addition the auditor's reputation does significantly influence tax management as measured using the proxy book tax gap and GAAP effective tax rate.

Keywords: tax management, management compensation, auditor reputation, corporate characteristic

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Authors: Dian Andari

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In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers.

Keywords: Islamic banks, Shari'ah supervisory board, accountability, quality of disclosure

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Authors: Hussein El-Zohary

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This research aims at studying the late Alexandrian school of philosophy in the 6th century AD, the adaptation of its methodologies by the Islamic world, and its impact on Muslim philosophical thought. The Alexandrian school has been underestimated by many scholars who regard its production at the end of the classical age as mere interpretations of previous writings and delimit its achievement to the preservation of ancient philosophical heritage. The research reviews the leading figures of the Alexandrian school and its production of philosophical commentaries studying ancient Greek philosophy in its entirety. It also traces the transmission of its heritage to the Islamic world through direct translations into Syriac first and then into Arabic. The research highlights the impact of the Alexandrian commentaries on Muslim recognition of Plato and Aristotle as well as its philosophical teaching methodology starting with the study of Aristotle’s Categories as introductory to understand Plato’s philosophy.

Keywords: Alexandrian school of philosophy, categories, commentaries, Syriac

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Authors: Karolina Patora

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This article investigates liquidity risk management by banks, which has gained significant importance since the global financial crisis of 2008. The issue is of particular interest for countries like Poland, in which foreign capital plays a dominant role. Such an ownership structure poses certain risks to the local banking sector, which faces an increased probability of the withdrawal of funding or assets’ transfers abroad in case of a crisis. Both these factors can have a detrimental influence on the liquidity position of foreign-owned banks and hence negatively affect the financial stability of the whole banking sector. The aim of this study is to evaluate the impact of a dominating share of foreign investors in the Polish banking sector on the liquidity position of commercial banks. The study hypothesizes that the ownership structure of the Polish banking sector, in which there are banks predominantly controlled by foreign investors, does not pose a threat to the liquidity position of Polish banks. A supplementary research hypothesis is that the liquidity risk profile of foreign-owned banks differs from that of domestic banks. The sample consists of 14 foreign-owned banks and 5 domestic banks owned by local investors, which together constitute approximately 87% of the banking sector’s assets. The data covers the period of 2004–2014. The results of the regression models show no evidence of significant differences in terms of the dynamics of changes of the liquidity buffers between the foreign-owned and domestic banks, although the signs of the coefficients might suggest that the foreign-owned banks were decreasing the holdings of liquid assets at a slower pace over the examined period, compared to the domestic banks. However, no proof of the statistical significance of these findings has been found. The supplementary research hypothesis that the liquidity risk profile of foreign-controlled banks differs from that of domestic banks was rejected.

Keywords: foreign-owned banks, liquidity position, liquidity risk, financial stability

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Authors: Abdus-Samii Imam Arikewuyo

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The human rights phenomenon increasingly gains universal prominence in the contemporary age. This embraces the clamour for a just treatment of individuals in society. The human rights agitation is a global pursuit which virtually gave birth to many national and international human rights organizations. In particular, Nigeria accedes to a number of human rights covenants. Invariably, there are some provisions which are recognized as inalienable rights of man in his society by which his intrinsic worth and dignity are protected by law. Nonetheless, the constituents of human rights differ in various societies. Conversely, Islam, as a complete code of life, guarantees the rights of a man vis-à-vis the rights of others in his environment regardless of place and time. Human rights pressure in Nigeria in recent times prompted proactive steps to address the issue through various legal instruments. Amazingly, the struggle appears to be a rhetorical noise because the human rights violation subsists. This provokes the present research on a comparative study of the Nigerian legal provisions and the Islamic law perspectives on human rights. It is discovered that the first is simply theoretical, while the other contains both the theoretical framework and the practical measures for its enforcement. The study adopts analytical and descriptive methods. It concludes with the assertion that the Islamic law provisions are all-embracing, universal and more efficacious. Hence, it recommends the adoption of the Islamic law approach to human rights issues.

Keywords: human rights, Nigerian legal provisions, shariah law, comparative study, charter

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Authors: Farida, M. Shehu, Shehu U. R. Aliyu

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Access to finance has been recognized in the literature as one of the major impediments confronting small scale businesses (SSBs). This largely arises due to high lending rate, religious inclinations, collateral, etc. Islamic mode finance operates under Profit and Loss Sharing (PLS) arrangement between a borrower (business owner) and a lender (Islamic bank). This paper empirically assesses the determinants of predisposition of small scale business operators in Fagge local government area, Kano State, Nigeria, towards the PLS. Cross-sectional data from a sample of 291 small scale business operators was analyzed using logit and probit regression models. Empirical results reveal that while awareness and religion inclination positively drive interest towards the PLS, lending rate and collateral work against it. The paper, therefore, strongly recommends more advocacy campaigns and setting up of more Islamic banks in the country to cater for the financing and religious needs of SSBs in the study area.

Keywords: Islamic finance, logit and probit models, profit and loss sharing small scale businesses, finance, commerce

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Authors: Aida Alemany, Laura Ballester, Ana González-Urteaga

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From 2007 subprime crisis to the recent Eurozone debt crisis the European banking industry has experienced a terrible financial instability situation with increasing levels of CDS spreads (used as a proxy of credit risk). This paper investigates whether volatility transmission channels in European banking markets have changed after three significant crises’ events during the period January 2006 to March 2013. The global financial crisis is characterized by a unidirectional volatility shocks spillovers effect in credit risk from inside to outside the Eurozone. By contrast, the Eurozone debt crisis is revealed to be local in nature with the euro as the key element suggesting a market fragmentation between distressed peripheral and non-distressed core Eurozone countries, whereas retaining the local currency have acted as a firewall. With these findings we are able to shed light on the impact of the different crises on the European banking credit risk dynamics.

Keywords: CDS spreads, credit risk, volatility spillovers, financial crisis

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Authors: Davoud Maleki, Neda Zamani

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The present study aims at exploring the effective accountability model of Islamic Azad University using a qualitative approach of grounded theory. The data of this study were obtained from semi-structured interviews with 25 professors and scholars in Islamic Azad University of Tehran who were selected by theoretical sampling method. In the data analysis, the stepwise method and Strauss and Corbin analytical methods (1992) were used. After identification of the main component (balanced response to stakeholders’ needs) and using it to bring the categories together, expressions and ideas representing the relationships between the main and subcomponents, and finally, the revealed components were categorized into six dimensions of the paradigm model, with the relationships among them, including causal conditions (7 components), main component (balanced response to stakeholders’ needs), strategies (5 components), environmental conditions (5 components), intervention features (4 components), and consequences (3 components). Research findings show an exploratory model for describing the relationships between causal conditions, main components, accountability strategies, environmental conditions, university environmental features, and that consequences.

Keywords: accountability, effectiveness, Islamic Azad University, grounded theory

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Authors: Mehry Daraei

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The goal of this study was to survey the components and affective factors on organizational commitment of Islamic Azad university Khoramabad Baranch’s faculty members. The research method was correlation by causal modeling and data were gathered by questionnaire. Statistical society consisted of 147 faculty members in Islamic Azad University Khoramabad Branch and sample size was determined as 106 persons by Morgan’s sample table that were selected by class sampling. Correlation test, T-single group test and path analysis test were used for analysis of data. Data were analyzed by Lisrel software. The results showed that organizational corporate was the most effective element on organizational commitment and organizational corporate, experience work and organizational justice were only in direct relation with organizational commitment. Also, job security had direct and indirect effect on OC. Job security had effect on OC by gender. Gender variable had direct and indirect effect on OC. Gender had effect on OC by organizational corporate. Job opportunities out of university also had direct and indirect effect on OC, which means job opportunities had indirect effect on OC by organizational corporate.

Keywords: organization, commitment, job security, Islamic Azad University

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Authors: Sana Tahzeeb

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Role of Muslim minority in a democratic state has been the most debatable as well as attractive issue in the writings of the contemporary Muslim scholars, never discussed in the classical Islamic literature of history. Islam as a dominant religion has been the issue of academic discussions in the entire classical literature of Islamic jurisprudence the division of world into Dar al-Islam (abode of Islam), Dar al-Harb (abode of war) has been the main division on the basis of which Islam’s relation with the remaining world were defined and formulated. Now living in a global society the classical division of territories seems to be irrelevant. The new division of the same became necessary in the present situation particularly in view of the pluralistic society and need of power sharing in non-Muslim countries. It is important to note that a number of Muslim scholars of modern period examined this problem and other issues of Muslim minorities from legal point of view. Fiqh al-Aqalliyat is a newly developed discipline of Islamic jurisprudence. The rationale for this development is that there are so many issues of the Muslim minorities particularly in the European countries which are required to be discussed and examined juridically by Muslim jurists and scholars. There was also need for reinterpreting the term Dar al-Harb and relevance of its applicability to the west. The present paper shed a light on these emerging trends in Islamic world.

Keywords: fiqh al Aqalliyat, Muslim minorities, Europe, Islam

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Authors: Zahra Ahmed Al-zadjali

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The influence of Islam on arts can be found primarily in calligraphy, arabesque designs and architecture. Also, geometric designs were used quite extensively. Muslim craftsmen produced stunning designs based on simple geometric principles and traditional motifs which were used to decorate many surfaces. The idea of interlacing simple rectilinear lines to form the patterns impressed Arabs. Nomads of Persia, Turks and Mongols were equally impressed with the designs so they begin to use them in their homes in carpet weaving. Islamic designs, motifs and colours which were used became common place and served to influence people’s tastes. Modern life style and contemporary products have changed the style of people’s daily lives, however, people still long for the nomadic way of life. This is clearly reflected in people’s homes. In a great many Muslim homes, Islamic decorative motifs can be seen along with traditional ‘Bedouin’ style furnishing, especially in homes of the Arabian Peninsula.

Keywords: art, craft, design, Oman, weaving

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Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

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This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

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Authors: Azzah Aldeghather, Sara Alkhodair

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In the modern urban planning and architecture landscape, with western ideologies and styles becoming the mainstay of experience and definitions globally, the Islamic world requires a methodology that defines its expression, which transcends cultural, societal, and national styles. This paper will propose a methodology as an objective system to define, evaluate and apply traditional Islamic knowledge to Islamic urban planning and architecture, providing the Islamic world with a system to manifest its approach to design. The methodology is expressed as Four Pillars which are based on traditional meanings of Arab words roughly translated as Pillar One: The Principles (Al Mabade’), Pillar Two: The Foundations (Al Asas), Pillar Three: The Purpose (Al Ghaya), Pillar Four: Presence (Al Hadara). Pillar One: (The Principles) expresses the unification (Tawheed) pillar of Islam: “There is no God but God” and is comprised of seven principles listed as: 1. Human values (Qiyam Al Insan), 2. Universal language as sacred geometry, 3. Fortitude© and Benefitability©, 4. Balance and Integration: conjoining the opposites, 5. Man, time, and place, 6. Body, mind, spirit, and essence, 7. Unity of design expression to achieve unity, harmony, and security in design. Pillar Two: The Foundations is based on two foundations: “Muhammad is the Prophet of God” and his relationship to the renaming of Medina City as a prototypical city or place, which defines a center space for collection conjoined by an analysis of the Medina Charter as a base for the humanistic design. Pillar Three: The Purpose (Al Ghaya) is comprised of four criteria: The naming of the design as a title, the intention of the design as an end goal, the reasoning behind the design, and the priorities of expression. Pillar Four: Presence (Al Hadara) is usually translated as a civilization; in Arabic, the root of Hadara is to be present. This has five primary definitions utilized to express the act of design: Wisdom (Hikma) as a philosophical concept, Identity (Hawiya) of the form, and Dialogue (Hiwar), which are the requirements of the project vis-a-vis what the designer wishes to convey, Expression (Al Ta’abeer) the designer wishes to apply, and Resources (Mawarid) available. The Proposal will provide examples, where applicable, of past and present designs that exemplify the manifestation of the Pillars. The proposed methodology endeavors to return Islamic urban planning and architecture design to its a priori position as a leading design expression adaptable to any place, time, and cultural expression while providing a base for analysis that transcends the concept of style and external form as a definition and expresses the singularity of the esoteric “Spiritual” aspects in a rational, principled, and logical manner clearly addressed in Islam’s essence.

Keywords: Islamic architecture, Islamic design, Islamic urban planning, principles of Islamic design

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Authors: Zuwaira Abubakar

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Islam is the Divine religion which guides Man ways of leading a prosperous life in this life and the hereafter. This study was conducted in order to investigate the possible relationship between adherence to Islamic principles of success and academic performance of university students. Accordingly, a questionnaire based on Islamized principles of success (referred to as 'Islamic character quotient inventory (ICQi)') was correlated with CGPA (Cumulative Grade Point Averages) of 343 students of Usmanu Danfodiyo University Sokoto. The empirical testing indicates that the total score on ICQi correlated positively and significantly with academic performance of the respondent. Students with either high or medium adherence have a significantly (P<0.01) higher CGPA than their counterparts with the low-adherence level. However, the result did not show a significant relationship between the CGPA of highly adherent individuals and that of those with medium adherence level. This may suggests that Islam is not for spiritual life only but also relevant and useful for our practical life.

Keywords: academic, Islam, principles, success

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Authors: Khaled Alkadamani

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Using the simultaneous equations model, this paper examines the impact of capital requirements on bank risk-taking during the recent financial crisis. It also explores the relationship between capital and risk decisions and the impact of economic instability on this relationship. By analyzing the data of 20 Islamic commercial banks between 2004 and 2014 from four Middle East countries, the study concludes a positive effect of regulatory pressure on bank capital in Saudi Arabia and UAE and a negative effect in Jordan and Kuwait. Moreover, the results show a negative impact of regulatory pressure on bank risk taking in Saudi Arabia, Jordan and UAE. The findings reveal also that banks close to the minimum regulatory capital requirements improve their capital adequacy by increasing their capital and decreasing their risk taking. Furthermore, the results show that economic crisis negatively affects bank risk changes, suggesting that banks react to the impact of uncertainty by reducing their risk taking. Finally, the estimations show a negative correlation between banks profitability and capital adequacy ratio (CAR), implying that as more capital is set aside as a buffer for banks safety; it affects the performance of Islamic banks.

Keywords: bank capital, bank regulation, crisis, Islamic banks, risk taking

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Authors: Muhsina Khadeeja

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Introducing theological texts combined with philosophy will be useful in understanding the major difference between theology and philosophy and making a comparative study between these two epistemologies. SHARAHUL AQAID is one of them. Which originated in the Fourteenth century; the time was enriched with theological discourses and religious revisions. Meanwhile, visions of philosophy strengthened and its ideologies were discussed widely until it reflected on Islamic theology. Those philosophers initiated to interpretation of Islamic theology from a philosophical aspect. Some prominent Muslim theologists like Gazzali analyzed that this genre of interpretations and followed questions will threaten the existence of Islamic theology. Understanding these situations, prominent leaders defended Islamic theology through their intellectual works. SHARAHUL AQAID of SADUDDIN THATHAZANI is one of them, which is written as a commentary on UMAR NASAFI's work. The mentioned book is full of answers to the counters of philosophers and rectification of their interpretation. He adopted the philosophical method in this work rather than other methods to make philosophers understand his answers vividly. Because of that, the book is plentiful with philosophical terminologies. Common people can't grasp it without a deep reading. So, the researcher hopes that the analysis of this work will help to elaborate its meanings and make it graspable. The researcher chooses a thematical and critical analysis of the answers of SADUDDIN THAFTHAZANI in SHARAHUL AQAID and on his methodology. This analysis denotes theology and philosophy show similarities rather than contradictions. The researcher concludes this study by examining the difference between theology and philosophy, similarities and contradiction. Finally, researcher proves how both epistemologies coexist.

Keywords: islamic theology, sharahul aqaid, saduddin thafthazani, philosophy

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Authors: Samaneh Khalili

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Natural law theory, in moral philosophy, refers to a system of unchanging values held to be mutual to all humans and can be discovered through reason. The natural law theory is commonly associated with western Philosophers. In contrast, discussions on notions of natural law in Islamic intellectual history were relatively rare. This paper aims to show that the moral theory developed by the Mu'tazilite thinkers can be classified in the ideas of natural law. In doing so, this study will demonstrate that the objective and unchanging values, according to Mu'tazilite theologians, provide the guidelines for assessing the Islamic law rules in the field of human coexistence. The focus of the paper lies on ʿAbd al-Ğabbār, who was the most influential thinker in the late epoch of the Muʿtazila. Although ʿAbd al-Ǧabbār did not leave a text with a systematic discussion of natural law, his teaching of nature, human reason, and the moral values of actions are all scattered throughout his work -'al-Muġnī fī abwāb at-tawḥīd wa-l-'adl'. It is necessary to focus on ʿAbd al-Ǧabbār's theories on reason, nature, and ethics since natural law revolves around the basic concepts of nature, reason, and moral value. While analyzing the concept of the Nature, it will attempt to answer how he explains the world's physical structure and God's relationship to natural events. Moreover, from ʿAbd al-Ǧabbār's point of view, is nature a self-determined system that follows its inner principle in every kind of change, or is nature guided by an external power? Does causality govern natural events? About the concept of reason, an attempt is made to examine how human reason, according to ʿAbd al-Ǧabbār, conceives moral attributes. Finally, the Autor will discuss the concepts of objective values and the place of rights and duties derived from Islamic law in ʿAbd al-Ǧabbār's thought.

Keywords: Islamic law, Mu'tazilite theology, natural law in Islamic theology, objective and unchanging values.

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Authors: Maryam Bakhtyar, Pegah Akrami

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Intuitional insight or mystical cognition is a different insight from common, concrete and intellectual insights. This kind of insight is not achieved by visionary contemplation but by the recitation of God, self-purification, and mystical life. In this insight, there is no distance or medium between the subject of cognition and its object, and they have a sort of unification, unison, and incorporation. As a result, knowledgeable consider this insight as direct, immediate, and personal. The goal of this insight is God, cosmos’ creatures, and the general inner and hidden aspect of the world that is nothing except God’s manifestations in the view of mystics. AS our common cognitions have diversity and stages, intuitional insight also has diversity and levels. As our senses are divided into concrete and rational, mystical discovery is divided into superficial discovery and spiritual one. Based on Islamic mystics, the preferable way to know God and believe in him is intuitional insight. There are two important criteria for evaluating mystical intuition, especially for beginner mystics of intellect and revelation. Indeed, the conclusion and a brief evaluation of Islamic mystics’ viewpoint is the main subject of this paper.

Keywords: intuition, discovery, mystical insight, personal knowledge, superficial discovery, spiritual discovery

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Authors: Afsana Afsar Tuly

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The Rohingyas are a group of minority Muslimsin Myanmar who witnessed series of persecution, violence, and torture from Burmese military since 1948. In 2017, around 700,000 Rohingyas fled to the neighboring country Bangladesh and took shelter as refugees after facing clashes with Myanmar security forces. The number increased to 1.8 million in 2020, creating one of the largest refugee crises of recent times. This research focuses on the vulnerability and poverty faced by Rohingyas in refugee camps and how thelack of long-term solution and silence from international communitycan pose national security threat and increasing Islamic extremism in Bangladesh. Islamic religious and terrorist groups have used the Rohingyas position as stateless people to influence them into speaking against the secular government of Bangladesh. There has been increasing crime rates and formation of different rebel groups in refugee camps, causing clashes with Bangladeshi police and authority. Human trafficking, illegal drug dealings, prostitution, and other illicit activities have continuously gone up in the southeastern part of Bangladesh. Some economic, social, and environmental factors are studied and analyzed to show the change in Bangladesh between 2017 and 2020.

Keywords: national security threat, islamic extremism, rohingya refugees, refugee studies, Bangladesh, myanmar

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Authors: Sana Ammad

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The tradition of linguistic analysis in Islam and Christianity has developed independently of each other in lieu of the social developments specific to their historical context. However, recently increasing number of Muslim academics educated in the West have tried to apply the Western tradition of linguistic interpretation to the Qur’anic text while completely disregarding the Islamic linguistic tradition used and developed by the traditional scholars over the centuries. The aim of the paper is to outline the linguistic tools and methods used by the traditional Islamic scholars for the purpose of interpretating the Holy Qur’an and shed light on how they contribute towards a better understanding of the text compared to their Western counterparts. This paper carries out a descriptive-comparative study of the linguistic tools developed and perfected by the traditional scholars in Islam for the purpose of textual analysis of the Qur’an as they have been described in the authentic works of Usul Al Fiqh (Jurisprudence) and the principles of textual analysis employed by the Western hermeneutical tradition for the study of the Bible. First, it briefly outlines the independent historical development of the two traditions emphasizing the final normative shape that they have taken. Then it draws a comparison of the two traditions highlighting the similarities and the differences existing between them. In the end, the paper demonstrates the level of academic excellence achieved by the traditional linguistic scholars in their efforts to develop appropriate tools of textual interpretation and how these tools are more suitable for interpreting the Qur’an compared to the Western principles. Since the aim of interpreters of both the traditions is to try and attain an objective understanding of the Scriptures, the emphasis of the paper shall be to highlight how well the Islamic method of linguistic interpretation contributes to an objective understanding of the Qur’anic text. The paper concludes with the following findings: The Western hermeneutical tradition of linguistic analysis developed within the Western historical context. However, the Islamic method of linguistic analysis is much more highly developed and complex and serves better the purpose of objective understanding of the Holy text.

Keywords: Islamic jurisprudence, linguistic analysis, textual interpretation, western hermeneutics

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Authors: Mohamed Fairooz Abdul Khir

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The linkage between liability for risk and legitimacy of reward is a governing principle that must be fully observed in financial transactions. It is the cornerstone of any Islamic business or financial deal. The absence of risk taking principle may give rise to numerous prohibited elements such as ribā, gharar and gambling that violate the objectives of financial transactions. However, fiqhī domains from which it emanates have not been clearly spelled out by the scholars. In addition, the concept of risk taking in relation to contemporary risks associated with financial contracts, such as credit risk, liquidity risk, reputational risk and market risk, needs further scrutiny as regard their Sharīʿah bases. Hence, this study is imperatively significant to prove that absence of risk taking concept in Islamic financial instruments give rise to prohibited elements particularly ribā. This study is primarily intended to clarify the concept of risk in Islamic financial transactions from the fiqhī perspective and evaluate analytically the selected issues involving risk taking based on the established concept of risk taking from fiqhī viewpoint. The selected issues are amongst others charging cost of fund on defaulting customers, holding the lessee liable for total loss of leased asset under ijārah thumma al-bayʿ and capital guarantee under mushārakah based instruments. This is a library research in which data has been collected from various materials such as classical fiqh books, regulators’ policy guidelines and journal articles. This study employed deductive and inductive methods to analyze the data critically in search for conclusive findings. It suggests that business risks have to be evaluated based on their subjects namely (i) property (māl) and (ii) work (ʿamal) to ensure that Islamic financial instruments structured based on certain Sharīʿah principles are not diverted from the risk taking concept embedded in them. Analysis of the above selected cases substantiates that when risk taking principle is breached, the prohibited elements such as ribā, gharar and maysir do arise and that they impede the realization of the maqāṣid al-Sharīʿah intended from Islamic financial contracts.

Keywords: Islamic finance, ownership risk, ribā, risk taking

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Authors: Iveta Řepková

Abstract:

The aim of this paper is to estimate the efficiency of the Slovak commercial banks employing the Data Envelopment Analysis (DEA) window analysis approach during the period 2003-2012. The research is based on unbalanced panel data of the Slovak commercial banks. Undesirable output was included into analysis of banking efficiency. It was found that most efficient banks were Postovabanka, UniCredit Bank and Istrobanka in CCR model and the most efficient banks were Slovenskasporitelna, Istrobanka and UniCredit Bank in BCC model. On contrary, the lowest efficient banks were found Privatbanka and CitiBank. We found that the largest banks in the Slovak banking market were lower efficient than medium-size and small banks. Results of the paper is that during the period 2003-2008 the average efficiency was increasing and then during the period 2010-2011 the average efficiency decreased as a result of financial crisis.

Keywords: data envelopment analysis, efficiency, Slovak banking sector, window analysis

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Authors: J. Cadby, K. Miyazawa

Abstract:

Information and Communication Technology (ICT) has been widely adopted into the agricultural landscape with advancements of mobile connectivity and data accessibility. In developed nations, mobile-technology is well integrated into marketing transactions, and also plays a crucial role in making data-driven decisions on-farm. In developing nations, mobile banking and access to agricultural extension services allow for informed decision-making and smoother transactions. In addition, the availability of updated and readily available market and climate data provides a negotiation platform, reducing economic risks for farmers worldwide. The total usage of mobile technology has risen over the past 20 years, and almost three-quarters of the world’s population subscribes to mobile technology. This study reviewed mobile technology integration into agricultural systems in developing and developed nations. Data from secondary sources were collected and investigated. The objectives of the study include a review of the success of mobile banking transactions in developing nations, and a review of application and SMS based services for direct marketing in both developed and developing nations. Rural farmers in developing countries with access to diverse m-banking options experienced increased access to farm investment resources with the use of mobile banking technology. Rural farmers involved in perishable crop production were also more likely to benefit from mobile platform sales participation. ICT programs reached through mobile application and SMS increased access to agricultural extension materials and marketing tools for demographics that faced literacy-challenges and isolated markets. As mobile technology becomes more ubiquitous in the global agricultural system, training and market opportunities to facilitate mobile usage in developing agricultural systems are necessary. Digital skills training programs are necessary in order to improve equal global adoption of ICT in agriculture.

Keywords: market participation, mobile banking, mobile technology, rural farming

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Authors: Laura Josabeth Oros-Avilés, Josefina León-León

Abstract:

In recent decades, the concern of the monetary authorities has increased because of the instability of the financial sector caused by the crash of speculative bubbles. In fact, the crash of "housing bubble" in U.S. (2007-2008) led the latest global crisis. The aim of paper is to analyze the features and causes of the financial and banking crisis from an historical view. In particular, in this research, a comparative study of some analytical approaches about economic and financial history is discussed. In addition, the role of monetary policy of central banks in managing financial crises, from its origins to today, is analyzed. According to the studied approaches, two types of factors that cause the financial instability were identified: subjective and objectives. In the research, these factors are deeply discussed, in order to noting the agreements and disagreement between the authors. Specially, it is worth noting that all of them recognized that the credit boom and the financial deregulation are the main causes of financial crises.

Keywords: asset prices, banking crises, financial bubble, financial instability, monetary policy

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Authors: Aisya Zaharin

Abstract:

The reporting of Islam in the Malaysian government-controlled press is complicated and occurs almost daily. This is due to the Islamisation process that has been heavily politicized in recent years. This article analyses media representations of Islam in the Malaysian media through the social responsibility theory. A provocative case study of media reporting on the “I want to touch a dog” event was analysed since dog’s saliva is ritually considered unhygienic by Muslims. This paper will not question the Islamic ruling on the dog’s issue. Instead, it calls for discussions in relation to openness and maturity in religious discourse with respect to the dog’s saliva dialogue in 1937. It applies Hage’s “minor and major reality” to explain the increasing percentage of Muslim who define their own understandings of Islam vs the government’s dogmatic versions. This paper employs Alatas’s method of “sociological investigation in Southeast Asia” by using ethnographic examination on selected mass media. Through Asiacentricity approach, this paper revisited the local framework of Alatas’s New Man encouraging Muslims to engage in knowledge and to appreciate diversities in Islamic jurisprudences. Despite government’s control, findings showed that non-Malay languages and online media are more comprehensive in reporting the news about Islam. Clearly, there has to be a re-conceptualization of Islamic discourses in the Malay-language media.

Keywords: dog, Fiqh, Islamic jurisprudence, Malaysian media, New Man, social responsibility

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Authors: Mohammad Reza Abidi, Zahra Nourouz Pour, Mehdi Moudi

Abstract:

In this research, firstly critical success factors and deterrent factors in implementing projects and also the factors those cause information technology productivity (IT) paradox in Islamic Azad University, Zahedan branch examined. Research method of this paper is descriptive. In fact, the researcher by using survey, proposed useful solutions. In this research, subjects’ responders to questionnaires items were based on Likert scale. In the questionnaire, economic, technical, organizational and cultural factors in the university have been assessed in order to obtain the necessary validity. We used masters and technicians of IT department’s advices to realize reliability and consistency. For the reliability test we used Cronbach’s reliability test and validity has been obtained using SPSS software. Because of the research questions and objectives, t-student test is used for hypothesis testing. Finally we analyze the findings, we offer conclusions and suggestions.

Keywords: IT projects, Islamic Azad University, success factors, deterrent factors

Procedia PDF Downloads 280