Search results for: Islamic credit card

Authors: Saeed Saffar-Heidari

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This article aims to study the recent Iranian national uprising of “Women, Life, Freedom” as a site of memory which renders the political possibility of imagining the post-Islamic futures in Iran. “Women, Life, Freedom” movement in Iran has been arguably the most pervasive social movement since the Islamic Revolution (1979) as it has posed serious issues and conflicts for the present Islamic state in Iran. The core argument of this article, however, is oriented toward the critical role of collective memory as a means of political transition and revolutionary mobilization. “Women, Life, Freedom” movement, among other things, has revitalized the popular binary opposition of pre-1979 and post-1979 Iran through which the Ancien Régime or the pre-1979 era is likely to be interpreted, read, and remembered in terms of present post-1979 cultural and political demands. As remembering involves everyday participation in shaping and reshaping the past through new codes, criteria, and values, it is argued that the presentist refashioning and remembering of the pre-1979 monarchical era has been one of the major facilitatory forces for the on-going revolutionary mobilization in Iran. The construction of the pre-1979 memory and the return of the dynastic specter has played a significant role in revolutionary mobilization as it has provided the protesters with the possible perspectives of post-Islamic regime in Iran. Additionally, the question of compulsory “Hijab” (veiling) as the prime mover of "Women, Life, Freedom” movement in Iran has strongly contributed to the everyday comparative discourse of pre/post 1979 memory. According to this presentist remembering of pre-1979, the Pahlavi dynasty would be conceived as a symbol of modernization, westernization, secularization, and non-compulsory Hijab. While the memory of the pre-revolutionary Iran is genuinely an imaginative as well as a constructed entity that finally culminates in the public condemnation of the very Islamic revolution (1979), it serves the enrichment of the Iranian political imagination as it paves the ways for the revolutionary mobilization and then the overthrowing of the Islamic regime in Iran. This article makes a case for the ways that the public narrative and discourse around the Islamic regime (especially the Islamic Hijab) led to the refashioning of the memory of pre-1979 era and inspired he revolutionary mobilization in Iran.

Keywords: post-islamic, utopias, memory, revolutionary, mobilization, Iran

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Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz

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Risk premium of emerging markets are moving altogether depending on the momentum and shifts in the global risk appetite. However, the magnitudes of these changes in the risk premium of emerging market economies might vary. In this paper, we focus on how global risk factor affects credit default swaps (CDS) premiums of emerging markets using principal component analysis (PCA) and rolling regressions. PCA results indicate that the first common component accounts for almost 76% of common variation in CDS premiums of emerging markets. Additionally, the explanatory power of the first factor seems to be high over sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are employed to identify the macroeconomic factors driving the heterogeneity across emerging markets. There are two main macroeconomic variables that affect the sensitivity; government debt to GDP and international reserves to GDP. The countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.

Keywords: emerging markets, principal component analysis, credit default swaps, sovereign risk

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Authors: Erika Mattio , Edoardo Casolo

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This project studies in a complete and innovative way the lesser known southern roman border: the limes africanus. In this work, thanks to the comparison of archaeological, historical and epigraphic sources, the evolution and changes that occurred in the cities and areas around the limes were analysed. As of now, there are many studies relative to the roman imperial period, however there are not that many analysing the evolution of the limes from the Islamic conquest to the modern day, comparing the ancient, byzantine, islamic and contemporary periods, understanding the significance of the limes, it s role and the cities and commerce that were defined by it in north Africa. Using modern methods of remote sensing and landscape archaeology, a georeferencing of the area documented in the thirties of the last century by French military aviation colonel Jean Baradez was created, showing that the limes africanus had survived the fall of the roman empire and continued to be important also for the Islamic dynasties that came later, even until the italo-turkish war and the Italian conquest of Libya. With this research we wish to demonstrate the continuation through time of the limes africanus and whether today it exists still or not.

Keywords: Limes Tripolitanus, Muslim, North Africa, Romans

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Authors: Akram Atef Rawshdeh

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This research aims to prove the role of Islamic pilgrimage caravans in formulating the concept of the tourism industry and the concept of Grand Tours before that which was found in Europe in the medieval and modern Ages, through its duration and the number of tourists who participated in it and its role in providing tourism services from the establishment of castles and inns that were built To accommodate pilgrims during their travels from different regions of the Islamic world to the holy places in Saudi Arabia, as well as food and beverage services, transportation and support services like tourist security and tourist guide services. This research will depend on the historical method

Keywords: grand tour, hajj caravan routes, tourism services, transportation

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Authors: Muhammad Rafiq, Lamae Zulfiqar, Nazish Idrees Chaudhary

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A growing number of research focuses on healthy and unhealthy eating behaviors and their impact on health. It was intended to study the Islamic point of view on eating behavior, its impact on mental health and preventative strategies in the light of the Quran and Sunnah. Different articles and Islamic sayings related to eating behaviors and mental health were reviewed in detail. It was also revealed scientifically and through Islamic point of view that appropriate quantity, quality and timings of food have positive effects on mental health. Therefore, a 3Rs model of eating behaviors has been proposed.

Keywords: food intake, mental health, quality of food, quantity of food

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Authors: Hazlin Kadir Shahar, Razaleigh Muhamat Kawangit, Badlihisham Mohd Nasir, Rosmawati Mohamad Rasit

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Stigma and discrimination have become the main topic of discussion when dealing with HIV/AIDS issues. They affect the daily life of People Living With HIV(PLHIV), families, friends and people around them indirectly. This paper discusses the potential measurement in helping to reduce stigma and discrimination existence among Islamic Religious Officers towards PLHIV in Malaysia. These people have been trained with special programmes to tackle the HIV/AIDS issues by using a manual, namely as ‘The Manual of Islam and HIV/AIDS’, specifically designed by the Islamic Development Department of Malaysia (JAKIM). The objectives of the training programmes are to give the accurate information about HIV/AIDS and to suggest ways on how to handle the PLHIV issues in Islamic perspective. This research used quantitative methodology by survey. A pilot test had been done over thirty (30) trained Islamic Religious Officers in Malaysia. The findings have shown that the trainings have given a positive impact for them as they managed to acquire the knowledge of HIV/AIDS from both primer and authorized sources such as medical practitioners, Muslim chaplains and social workers. The knowledge they have acquired from the trainings has guided them in changing their perception, thus helping to reduce their own stigma and discrimination towards PLHIV. The training programmes have given them opportunities to practice what they have learned through several outreach sessions as they have had the opportunities to approach PLHIV directly.

Keywords: Islamic religious officers, people with HIV, stigma and discrimination, training programmes

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Authors: Samir Srairi

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This paper investigates the impact of the internal corporate governance on bank performance by constructing a corporate governance index (CGI) for 27 Islamic banks operating in five Arab Gulf countries. Using content analysis on the banks’ annual reports for 3 years (2011-2013), the index construction uses information on six important corporate governance mechanisms, namely board structure, risk management, transparency and disclosure, audit committee, Sharia supervisory board and investment account holders. The results demonstrate that Islamic banks adhere to 54% of the attributes addressed in the CGI. The most frequently reported and disclosed elements are Sharia supervisory board followed by board structure and risk management. The findings related to countries revealed that only two countries, the United Arab Emirates and Bahrain, possess a higher level of CGI. Our regression results provide evidence that Islamic banks with higher levels of corporate governance report high operating performance measured by return on assets and net interest margin. Finally, as of the effect of internal and external factors, we identified four variables that were associated with bank performance, namely size, equity, risk and concentration.

Keywords: governance mechanisms, corporate governance index, bank performance, Islamic banks, GCC countries

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Authors: Hosein Rahmati

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The Fatimid government was one of the powerful Shiite governments that was formed in 297 AH in the Islamic Maghreb based on Ismaili ideas and played an important role in promoting the culture and civilization of the Islamic world. Ismaili is one of the Shiite sects that has its own beliefs and teachings. This research seeks to find out which of the Ismaili beliefs and teachings were considered by the Fatimid political government and which the Fatimid government paid serious attention to highlighting. The present study, based on library sources and descriptive-analytical method, has concluded that the Ismaili doctrinal foundations, especially the doctrine of Imamate, are essential elements in the formation and continuation of the Fatimid rule. Their goals were approaching.

Keywords: Fatimid rule, The Ismaili, The Islamic Maghreb, Imamate

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Authors: Mina Latif Ghaly Sawiras

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The difference between Islamic terrorism and human-rights has become a big question in the fight against Islamic terrorism globally. This is was raised on the fact that terrorism and human rights are interrelated to the extent that, when the former starts, the latter is violated. This direct linkage was recognized in the Vienna Declaration and Program of Action as adopted by the World Conference on Human Rights in Vienna on 25 June 1993 which agreed that acts of terrorism in all its forms and manifestations are aimed at the destruction of human rights. Hence, Islamic-terrorism constitutes a violation on our most basic human rights. To this end, the first part of this paper will focus on the nexus between terrorism and human rights and endeavors to draw a co-relation between these two concepts. The second part thereafter will analyse the emerging concept of cyber-terrorism and how it takes place. Further, an analysis of cyber counter-terrorism balanced as against human rights will also be undertaken. This will be done through the analysis of the concept of ‘securitization’ of human rights as well as the need to create a balance between counterterrorism efforts as against the protection of human rights at all costs. The paper will then conclude with recommendations on how to balance counter-terrorism and human rights in the modern age.

Keywords: balance, counter-terrorism, cyber-terrorism, human rights, security, violation

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Authors: Vishwa Nath Maurya, Rama Shanker Sharma, Saad Talib Hasson Aljebori, Avadhesh Kumar Maurya, Diwinder Kaur Arora

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Present paper deals with problems of determining the relationship between the variables of corporate governance and financial performance of Islamic banks. Here, we dealt with the corporate governance in the banking sector, where increasing the importance of corporate governance, due to their special nature, as the bankruptcy of banks affects not only the relevant parties from customers, depositors and lenders, but also affect financial stability and then the economy as a whole. Through this paper we dealt to the specificity of governance in Islamic banks, which face double governance: Anglo-Saxon governance system and Islamic governance system. In addition, we focused our attention to measure the impact of corporate governance variables on financial performance through an empirical study on a sample of Islamic banks during the period 2005-2012 in the GCC region. Our present study implies that there is a very strong relationship between the variables of governance and financial performance of Islamic banks, where there is a positive relationship between return on assets and the composition of the Board of Directors, the size of the Board of Directors, the number of committees in the Council, as well as the number of members of the Sharia Supervisory Board, while it is clear that there is a negative relationship between return on assets and concentration ownership.

Keywords: correlation analysis, parametric estimation, corporate governance, financial performance, financial stability, conventional banks, bankruptcy, Islamic governance system

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Authors: Audia Syafa'atur Rahman, Rozali Haron

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The practices of Islamic banking are more attuned to the goals of profit maximization rather than obtaining ethical profit. Ethical profit is obtained from interest-free earnings and to give an impact which benefits to the growth of society and economy. Good corporate governance practices are needed to assure the sustainability of Islamic banks in order to achieve Maqasid Shariah with the main purpose of boosting the well-being of people. The Maqasid Shariah performance measurement is used to measure the duties and responsibilities expected to be performed by Islamic banks. It covers not only unification dimension like financial measurement, but also many dimensions covered to reflect the main purpose of Islamic banks. The implementation of good corporate governance is essential because it covers the interests of the stakeholders and facilitates effective monitoring to encourage Islamic banks to utilize resources more efficiently in order to achieve the Maqasid Shariah. This study aims to provide the empirical evidence on the Maqasid performance of Islamic banks in relation to the Maqasid performance evaluation model, to examine the influence of SSB characteristics and board structures to Islamic Banks performance as measured by Maqasid performance evaluation model. By employing the simple additive weighting method, Maqasid index for all the Islamic Banks in Indonesia within 2012 to 2016 ranged from above 11% to 28%. The Maqasid Syariah performance index where results reached above 20% are obtained by Islamic Banks such as Bank Muamalat Indonesia, Bank Panin Syariah, and Bank BRI Syariah. The consistent achievement above 23% is achieved by BMI. Other Islamic Banks such as Bank Victoria Syariah, Bank Jabar Banten Syariah, Bank BNI Syariah, Bank Mega Syariah, BCA Syariah, and Maybank Syariah Indonesia shows a fluctuating value of the Maqasid performance index every year. The impact of SSB characteristics and board structures are tested using random-effects generalized least square. The findings indicate that SSB characteristics (Shariah Supervisory Board size, Shariah Supervisory Board cross membership, Shariah Supervisory Board Education, and Shariah Supervisory Board reputation) and board structures (Board size and Board independence) have an essential role in improving the performance of Islamic Banks. The findings denote Shariah Supervisory Board with smaller size, higher portion of Shariah Supervisory Board cross membership; lesser Shariah Supervisory Board holds doctorate degree, lesser reputable scholar, more members on board of directors, and less independence non-executive directors will enhance the performance of Islamic Banks.

Keywords: Maqasid Shariah, corporate governance, Islamic banks, Shariah supervisory board

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Authors: Babak Salekmahdy

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Microfinance is often seen as a means of repairing credit markets and unleashing the potential contribution of impoverished people who rely on self-employment. Since the 1990s, the microfinance industry has expanded rapidly, opening the path for additional kinds of social entrepreneurship and social investment. However, current data indicate relatively few average consumer effects, opposing pushback against microfinance. This research reconsiders microfinance statements, stressing the variety of data on impacts and the essential (but limited) role of reimbursements. The report finishes by explaining a shift in thinking: from microfinance as a strictly defined enterprise finance to microfinance as a more widely defined home finance. Microfinance, under this perspective, provides advantages by providing liquidity for various requirements rather than just by increasing income.

Keywords: microfinance, small business, economic development, credit markets

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Authors: Mohammad Irfan

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The purpose of this paper is to investigate the relationship among the key macroeconomic variables and Islamic stock market in India. This study is based on the time series data of financial years 2009-2015 to explore the consistency of relationship between macroeconomic variables and Shariah Indices. The ADF (Augmented Dickey–Fuller Test Statistic) and PP (Phillips–Perron Test Statistic) tests are employed to check stationarity of the data. The study depicts the long run relationship between Shariah indices and macroeconomic variables by using the Johansen Co-integration test. BSE Shariah and Nifty Shariah have uni-direct Granger causality. The outcome of VECM is significantly confirming the applicability of best fitted model. Thus, Islamic stock indices are proficiently working for the development of Indian economy. It suggests that by keeping eyes on Islamic stock market which will be more interactive in the future with other macroeconomic variables.

Keywords: Indian Shariah Indices, macroeconomic variables, co-integration, Granger causality, vector error correction model (VECM)

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Authors: Abdulbasit Musa Ahmad Karkarku

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Knowledge is the best asset you can leave for your child, especially the knowledge of Islam because it facilitates success in this life and the next. This made it necessary for every Muslim male and female to acquire Islamic education. The objective of this research is to highlight the role played by Muslim scholars in promoting Islamic education in Katsina State, Nigeria. There are so many problems facing Muslim scholars in the area of study; some of these problems include a lack of government support for Muslim scholars, a lack of community support, and a lack of financial support from wealthy individuals and philanthropists. In this research, two methods were used concurrently, i.e., library and interview methods. In the library method, the researcher consulted books and other academic works. In the course of this research, parents and religious leaders were interviewed in order to collect needed data information from them. The major findings of this research have shown that the Muslim scholars in area of study have contributed tremendously toward the development of Islamic education. Also, Muslim scholars played a vital role in the promotion of Islamic education in the area of study and beyond. In view of the above, some suggestions were highlighted with the view toward solving the associated problems; the government at every level should come to the aid of these Muslim scholars in order to provide them with basic amenities. The Philanthropists and wealthy individuals should help the Muslim scholars by giving them financial assistance. Also, communities have a vital role to play in order to improve the condition of Muslim scholars by giving them more donations.

Keywords: education, Islamic, Muslim, scholars

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Authors: Xu Wang

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This research builds linear regressions of U.S. macroeconomic condition and volatility measures in the investment grade and high yield Credit Default Swap index spreads using monthly data from March 2009 to July 2016, to study the relationship between different dimensions of macroeconomy and overall credit risk quality. The most significant contribution of this research is systematically examining individual and joint effects of macroeconomic condition and volatility on CDX spreads by including macroeconomic time series that captures different dimensions of the U.S. economy. The industrial production index growth, non-farm payroll growth, consumer price index growth, 3-month treasury rate and consumer sentiment are introduced to capture the condition of real economic activity, employment, inflation, monetary policy and risk aversion respectively. The conditional variance of the macroeconomic series is constructed using ARMA-GARCH model and is used to measure macroeconomic volatility. The linear regression model is conducted to capture relationships between monthly average CDX spreads and macroeconomic variables. The Newey–West estimator is used to control for autocorrelation and heteroskedasticity in error terms. Furthermore, the sensitivity factor analysis and standardized coefficients analysis are conducted to compare the sensitivity of CDX spreads to different macroeconomic variables and to compare relative effects of macroeconomic condition versus macroeconomic uncertainty respectively. This research shows that macroeconomic condition can have a negative effect on CDX spread while macroeconomic volatility has a positive effect on determining CDX spread. Macroeconomic condition and volatility variables can jointly explain more than 70% of the whole variation of the CDX spread. In addition, sensitivity factor analysis shows that the CDX spread is the most sensitive to Consumer Sentiment index. Finally, the standardized coefficients analysis shows that both macroeconomic condition and volatility variables are important in determining CDX spread but macroeconomic condition category of variables have more relative importance in determining CDX spread than macroeconomic volatility category of variables. This research shows that the CDX spread can reflect the individual and joint effects of macroeconomic condition and volatility, which suggests that individual investors or government should carefully regard CDX spread as a measure of overall credit risk because the CDX spread is influenced by macroeconomy. In addition, the significance of macroeconomic condition and volatility variables, such as Non-farm Payroll growth rate and Industrial Production Index growth volatility suggests that the government, should pay more attention to the overall credit quality in the market when macroecnomy is low or volatile.

Keywords: autoregressive moving average model, credit spread puzzle, credit default swap spread, generalized autoregressive conditional heteroskedasticity model, macroeconomic conditions, macroeconomic uncertainty

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Authors: Korbi Fakhri

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The management of assets and liability is a vital task for every bank as far as a good direction allows its stability; however, a bad running forewarns its disappearance. Equity of a bank is among the most important rubrics in the liability side because, actually, these funds ensure three notably primordial functions for the survival of the bank. From one hand, equity is useful to bankroll the investments and cover the unexpected losses. From another hand, they attract the fund lessors since they inspire trust. So we are going to tackle some points including whether equity of the Islamic banks are oversized. In spite of the efforts made on the subject, the relationship between the capital and the deficiency probability has not been defined with certainty. In this article, we have elaborated a study over the nature of financial intermediation in Islamic banks by comparison to those of conventional ones. We have found a striking difference between two kinds of intermediation. We tried, from another side, to study the relationship between the capital level and deficiency risk relying on econometric model, and we have obtained a positive and significant relation between the capital and the deficiency risk for the conventional banks. This means that when the capital of these banks increases, the deficiency risk increases as well. In return, since the Islamic banks are constrained to respect the Sharia Committee as well as customers’ demands who may, in certain contracts, choose to invest their capitals in projects they are interested in. These constraints have as effects to reduce the deficiency risk even when the capital increases.

Keywords: Islamic bank, conventional bank, deficiency risk, financial intermediation

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Authors: Farrukh Shahzad

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The rich Islamic resources related to religious text, Islamic sciences, and history are widely available in print and in electronic format online. However, most of these works are only available in Arabic language. In this research, an attempt is made to utilize these resources to create interactive web applications in Arabic, English and other languages. The system utilizes the Pattern Recognition, Knowledge Management, Data Mining, Information Retrieval and Management, Indexing, storage and data-analysis techniques to parse, store, convert and manage the information from authentic Arabic resources. These interactive web Apps provide smart multi-lingual search, tree based search, on-demand information matching and linking. In this paper, we provide details of application architecture, design, implementation and technologies employed. We also presented the summary of web applications already developed. We have also included some screen shots from the corresponding web sites. These web applications provide an Innovative On-line Learning Systems (eLearning and computer based education).

Keywords: Islamic resources, Muslim scholars, hadith, narrators, history, fiqh

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Authors: Sulaiman Ahmed

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This paper will analyse the classical Islamic text in order to determine whether the Arab spring was a rebellion or a revolution. Commencing in 2010, we saw a series of revolutions or what some would call rebellions throughout the Arab peninsula. Many of the religious clergies came out emphatically in support of the people who wanted to overthrow the leaders. This brought forth the important question about the acceptability of rebelling against unjust leaders in Islamic theological texts. The paper will look to analyse the Islamic legal and theological position on the permissibility of rebelling, whether there is scholarly consensus on the issue, and how the texts are analysed in order to come to the current position we have today. The position of the clergy who supported the Arab spring will also be analysed in order to deduce if their position falls within the religious framework. An inquiry will be about to determine the ideology of those who joined the rebellion after the inception and whether these ideas can be found in classical Islamic texts. The nuances of these positions will be analysed in order to determine whether what we witnessed was a rebellion or a revolution.

Keywords: rebellion, revolution, Arab spring, scholarly consensus

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Authors: Lianne M. Q. Lee, Mohammed Sharaf Shaiban

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The importance of bank liquidity management took center stage as policy makers promoted a more resilient global banking system after the market turmoil of 2007. The growing recognition of Islamic banks’ function of intermediating funds in the economy warrants the need to investigate its balance sheet structure which is distinct from its conventional counterparts. Given that asymmetric risk, transformation is inevitable; Islamic banks need to identify the liquidity risk within their distinctive balance sheet structure. Thus, there is a strong need to quantify and assess the liquidity position to ensure proper functioning of a financial institution. It is vital to measure bank liquidity because liquid banks face less liquidity risk. We examine this issue by using two alternative quantitative measures of liquidity creation “cat fat” and “cat nonfat” constructed by Berger and Bouwman (2009). “Cat fat” measures all on balance sheet items including off balance sheet, whilst the latter measures only on balance sheet items. Liquidity creation is measured over the period 2007-2014 in 14 countries where Islamic and conventional commercial banks coexist. Also, separately by bank size class as empirical studies have shown that liquidity creation varies by bank size. An interesting and important finding shows that all size class of Islamic banks, on average have increased creation of aggregate liquidity in real dollar terms over the years for both liquidity creation measures especially for large banks indicating that Islamic banks actually generates more liquidity to the economy compared to its conventional counterparts, including from off-balance sheet items. The liquidity creation for off-balance sheets by conventional banks may have been affected by the global financial crisis when derivatives markets were severely hit. The results also suggest that Islamic banks have the higher volume of assets and deposits and that borrowing/issues of bonds are less in Islamic banks compared to conventional banks because most products are interest-based. As Islamic banks appear to create more liquidity than conventional banks under both measures, it translates that the development of Islamic banking is significant over the decades since its inception. This finding is encouraging as, despite Islamic banking’s overall size, it represents growth opportunities for these countries.

Keywords: financial institution, liquidity creation, liquidity risk, policy and regulation

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Authors: Md. Abu Yousuf

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Islamic social financing (ISF) refers to the fair distribution of wealth and financial dealings and prevents economic exploitation at all levels. ISF instruments include Islamic institutions Zakat (obligatory charity), Sadaqah (voluntary charity) and Waqf (endowment) based on philanthropy such and Qard-al Hasan (beautiful loan), micro takaful (insurance) and social investments through Sukuk (bonds) based on cooperation. ISF contributes to socio-economic development, end poverty, protects environmental sustainability, promotes education, equality, social justice and above all, establishes social well-being since the birth of Islam. ISF tools are instrumental towards achieving sustainable development goals (SDGs) set by United Nations (UN). The present study will explore the scope of ISF for community development in Bangladesh and examine the challenges in implementing ISF tools and will provide the most practical model of ISF. The study will adopt a mixed-method (MM) design in the process of data collection and analysis. The researcher will consider all issues related to ethics, reliability, validity and feasibility while conducting the study.

Keywords: Islamic social financing, sustainable development goals, poverty eradication, zakat, waqf, sadaqah, Islamic microfinance

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Authors: Ibrahim Aly, Manal Ahmed, Mahmoud M. El-Shall

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Filariasis is a parasitic disease caused by small roundworms. The filarial worms are transmitted and spread by blood-feeding black flies and mosquitoes. Lymphatic filariasis (Elephantiasis) is caused by Wuchereriabancrofti, Brugiamalayi, and Brugiatimori. Elimination of Lymphatic filariasis necessitates an increasing demand for valid, reliable, and rapid diagnostic kits. Nanodiagnostics involve the use of nanotechnology in clinical diagnosis to meet the demands for increased sensitivity, specificity, and early detection in less time. The aim of this study was to evaluate the nano-based enzymelinked immunosorbent assay (ELISA) and novel nano-chip card as a rapid test for detection of filarial antigen in serum samples of human filariasis in comparison with traditional -ELISA. Serum samples were collected from an infected human with filarial gathered across Egypt's governorates. After receiving informed consenta total of 45 blood samples of infected individuals residing in different villages in Gharbea governorate, which isa nonendemic region for bancroftianfilariasis, healthy persons living in nonendemic locations (20 persons), as well as sera from 20 other parasites, affected patients were collected. The microfilaria was checked in thick smears of 20 µl night blood samples collected during 20-22 hrs. All of these individuals underwent the following procedures: history taking, clinical examination, and laboratory investigations, which included examination of blood samples for microfilaria using thick blood film and serological tests for detection of the circulating filarial antigen using polyclonal antibody- ELISA, nano-based ELISA, and nano-chip card. In the present study, a recently reported polyoclonal antibody specific to tegumental filarial antigen was used in developing nano-chip card and nano-ELISA compared to traditional ELISA for the detection of circulating filarial antigen in sera of patients with bancroftianfilariasis. The performance of the ELISA was evaluated using 45 serum samples. The ELISA was positive with sera from microfilaremicbancroftianfilariasis patients (n = 36) with a sensitivity of 80 %. Circulating filarial antigen was detected in 39/45 patients who were positive for circulating filarial antigen using nano-ELISA with a sensitivity of 86.6 %. On the other hand, 42 out of 45 patients were positive for circulating filarial antigen using nano-chip card with a sensitivity of 93.3%.In conclusion, using a novel nano-chip assay could potentially be a promising alternative antigen detection test for bancroftianfilariasis.

Keywords: lymphatic filariasis, nanotechnology, rapid diagnosis, elisa technique

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Authors: Shamsuddeen Muhammad Ahmad

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The emergence and operations of Islamic Financial Institutions (IFIs) are being regarded as the new economic and financial pride at the global stage today. Admittedly, therefore, the IFIs has continued to impact positively on the economies of its host countries, especially the Gulf Cooperation Council (GCC) region, Asian and Western countries as well as making a steady in-road into the sub-Saharan Africa. Hence, the number of countries that adopted Islamic financial system in Africa has continued to increase. As a matter of fact, this paper examines the role and contributions of Islamic Financial Institutions (IFIs) to the economic growth and financial development of the big emerging markets in the African continent i.e. South Africa, Nigeria, and Egypt. The methods adopted for this study are descriptive, comparative and analytical in nature. Essentially, the findings from this study reveal that the three sampled countries are benefitting from the presence of IFIs in their economies in terms of contributions to economic growth and real sector participation, particularly for Egypt and South Africa. Similarly, they reap from foreign direct investments and economic diversification among others. However, this study recommends that African countries should integrate IFIs as part and parcel of their economic and financial systems, in order to benefit optimally from this new economic phenomenon.

Keywords: Islamic financial services, Africa, emerging markets, development, operation

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Authors: Ghada Chater, Mounir Dhouib

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Zawiyas are mausoleums where saints called 'waly' are buried and where ritual practices of Sufi Islamic movement take place. These funerary monuments have constituted since the medieval period a fundamental component of rural and urban Islamic landscape, especially that of Tunisia.The hypothesis is that these monuments reflect in their architecture the Sufi underlying thought. The paper’s target is to verify the validity of this hypothesis and possibly show the incarnation mode of Islamic Sufi paradigm in the zawiya’s architecture. This study considers the main Zawiya of one of the most important religious brotherhoods in Tunisia, which is Kadiria. A morphological analysis has been conducted and crossed later to a spiritual hermeneutic test. The result of this confrontation was significant: the paradigmatic element of the zawiya, materialized by the esoteric / exoteric dome 'kubba', returns in its geometry and structure to one of the Sufism key concepts: the unity of the creative spirit in the diversity and plurality of evanescent bodies. Thus, the creative act finds its reflection not only in the spirit of the perfect human microcosm (the waly microcosm), but also within the building dedicated to him.

Keywords: architecture, Islam, Sufism, waly, zawiya

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Authors: Sheriff Muhammad Ibrahim, Tijjani Muhammad

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The study assesses the Islamic Microfinance Bank's role in promoting customers' social welfare, using the newly developed products of Yobe Microfinance Bank to encourage inclusion and alleviate poverty in the Yobe communities. Yobe state is ranked bottom as the poorest in the region and scores low on human development and poverty alleviation. It is clearly indicated low education rates, poor implementation of government policies on poverty, and a high rate of financial exclusion. The study adopted a qualitative approach using random sampling to collect data from customers of Yobe Microfinance Bank. Using the acceptability of the newly introduced sharia complaint products of Yobe Microfinance among the people in Yobe state, using the Structural Equation Modelling, a total of 300 respondents completed the survey using a Likert scale. The study employed Structural Equation Modeling to analyze and test reliability and validity to provide accuracy of respondents' information. The finding indicates the positive relationship between Islamic banking products and customer satisfaction. The study concludes that introducing and consistently managing Islamic products can improve social welfare and reduce poverty through financial inclusion in the state.

Keywords: islamic microfinance, social welfare, products, poverty

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Authors: Nurzahidah Haji Jaapar, Anis Husna Abdul Halim, Mohd Faiz Mohamed Yusof, Mohd Dani Muhamad, Sharifah Fadylawaty Syed Abdullah

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The growing size of Muslim is recognised with significant increasing of purchasing power in the market. The realm of trade and business has embedded religious values as the new market segments are emerging in offering food products to meet needs and demands of Muslim consumer. The emergence of new market in food industry, advertising is charged with all sort of negative effects includes promoting controversial unsafety and harmful products, wasteful spending and exploiting women and kids. Therefore, this research attempts to examine between previous examinations of advertising standardisation in ancient era and current practices in the market. This paper is based on content analysis of the literature. The results show that there are a bridge gap between the implementation of practices as the advent in industrial 4.0 in using digital advertising by food industry. Thus, this paper is able to recognize the differences between two era and significant in determining the best practices in advertising by following Islamic principles.

Keywords: Islamic advertising, unethical advertising, ethical advertising, Islamic principles

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Authors: Bello Ali

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The use of Information and Communication Technology (ICT) in tertiary institutions by lecturers and students has become a necessity for the enhancement of quality teaching and learning. This study examined availability, accessibility and utilization of ICT in Teaching-Learning Islamic Studies in Colleges of Education, North-East, Nigeria. The study adopted multi-stage sampling technique, in which, five out of the eleven Colleges of Education (both Federal and State owned) were purposively selected for the study. Primary data was drawn from the respondents by the use of questionnaire, interviews and observations. The results of the study, generally, indicate that the availability and accessibility to ICT facilities in Colleges of Education in North-East, Nigeria, especially in teaching/learning delivery of Islamic studies were relatively inadequate and rare to lecturers and students. The study further reveals that the respondents’ level of utilization of ICT is low and only few computer packages and internet services were involved in the ICT utilization, which is yet to reach the real expected situation of the globalization and advancement in the application of ICT if compared to other parts of the world, as far as the teaching and learning of Islamic studies is concerned. Observations and conclusion were drawn from the findings and finally, recommendations on how to improve on ICT availability, accessibility and utilization in teaching/ learning were suggested.

Keywords: accessibility, availability, college of education, ICT, Islamic studies, learning, North-East, teaching, utilization

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Authors: Bilal Ahmad Malik

Abstract:

With the fall of Soviet Union in 1991 the whole Central Asian region saw a dramatic rise in Muslim identity, a call back to Islamic legacy. Today, many Central Asian Muslims demand, what Islam has termed legal (Halal) and, avoid what Islam has termed illegal (Haram). The process of Islamic resurgence kicked off very quickly soon after the integration of Central Asian republics with other Muslim geographies through the membership of Organization of Islamic Conference (OIC) and other similar organizations. This interaction proved to be a vital push factor to the already existing indigenous reviving trends and sentiments. As a result, along with many other requirements, Muslim customer demand emerged as navel trend in the market in general and in banking and financial sector in particular. To get this demand fulfilled, the governments of CIS states like Kazakhstan, Uzbekistan, Azerbaijan, Turkmenistan, Kyrgyzstan and Tajikistan introduced Halal banking and financial products in the market. Firstly, the present paper would briefly discuss the core composition of Halal banking and financial products. Then, coming to its major theme, it would try to identify and analyze the causes that lead to the emergence of Islamic banking and finance industry in the Muslim majority Post-Soviet CIS States.

Keywords: causes, Central Asia, interest-free banking, Islamic Revival

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Authors: Naufal Ahmad Rijalul Alam

Abstract:

This article presents a quality of education for the poor people in Indonesia and the offering of strategy to be done. It also investigates the influence of Islamic Education which stands behind the religious values in developing effort of government to respond the problem with using humanities approaches in medium society. The offering strategy resulted in four agenda: 1) building a shared commitment, 2) encouraging the improvement of the quality of public and private schools, 3) encouraging the use of 'the indicator of disaffection' for gifted children, and 4) encouraging the enlargement of vocational training centers and polytechnics. The conclusion is that the quality of education can be increased with these four agenda, although they are not too easy because it deals with other factors such as the economy, politics, and culture which is happening in the country.

Keywords: quality education, poor people, strategy of Islamic education, medium community

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Authors: Olga Bernikova, Oleg Redkin

Abstract:

Islamic Studies and the Arabic language are indivisible from each other starting from the appearance of Islam and formation of the Classical language. The present paper demonstrates correlation among linguistics and religion in historical perspective with regard to peculiarities of the Arabic language which distinguish it from the other prophetic languages. Islamic Studies and Linguistics are indivisible from each other starting from the invent of Islam and formation of the Classical language. In historical perspective, the Arabic language has been and remains a tool for the expression of Islamic rhetoric being a prophetic language. No other language in the world has preserved its stability for more than 14 centuries. Islam is considered to be one of the most important factors which secure this stability. The analysis and study of the text of Qurʾān are of special importance for those who study Islamic civilization, its role in the destinies of the mankind, its values and virtues. Without understanding of the polyphony of this sacred text, indivisible unity of its form and content it is impossible to understand social developments both in the present and the past. Since the first years of Islam Qurʾān had been in the center of attention of Muslim scholars, and in the center of attention of theologians, historians, philologists, jurists, mathematicians. Only quite recently it has become an object of analysis of the specialists of computer technologies. In Arabic and Islamic studies mediaeval texts i.e. textual documents are considered the main source of information. Hence the analysis of the multiplicity of various texts and finding of interconnections between them help to set scattered fragments of the riddle into a common and eloquent picture of the past, which reflects the state of the society on certain stages of its development. The text of the Qurʾān like any other phenomenon is a multifaceted object that should be studied from different points of view. As a result, this complex study will allow obtaining a three-dimensional image rather than a flat picture alone.

Keywords: Arabic, Islamic studies, linguistics, religion

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Authors: Hamza Zafar, Quratulain Rajput

Abstract:

Salah (نماز ) is one of five pillars of Islam and obligatory for every Muslims. However, due to the lack of Islamic knowledge it might be very difficult for a layperson to perform it correctly. This paper presents an ontology based representation of Islamic rules to perform Salah. The Salah ontology has been built under the guidance of domain expert in light of Quran and Hadith. The ontology consists of basic concepts as well as relationship among concepts and constraints on them. The basic concepts include cleanness, body cover, Salah timing and steps to perform Salah. The SWRL rule language has been used to represent rule to determine whether the Salah performed correctly or it should be repeated. Finally, we evaluate the use of the Salat ontology through user’s example queries using SPARQL queries.

Keywords: prayer, salah, ontology, SPARQL queries, reasoning

Procedia PDF Downloads 386