Search results for: Islamic leadership

Authors: Siswoyo Haryono

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Purpose – The fundamental goal of this research is to see if the integrative organizational behavior model can be used effectively in Islamic boarding schools. This paper also seeks to assess the effect of Islamic organizational culture, leadership, and spiritual intelligence on teachers' organizational commitment to Islamic Boarding schools. The goal of the mediation analysis is to see if the Islamic work ethic has a more significant effect on the instructors' organizational commitment than the direct effects of Islamic organizational culture, leadership, and Islamic spiritual intelligence. Design/methodology/approach – A questionnaire survey was used to obtain data from teachers at Islamic Boarding Schools. This study used the AMOS technique for structural equation modeling to evaluate the expected direct effect. To test the hypothesized indirect effect, employed Sobel test. Findings – Islamic organizational culture, Islamic leadership, and Islamic spiritual intelligence significantly affect Islamic work ethic. When it comes to Islamic corporate culture, Islamic leadership, Islamic spiritual intelligence, and Islamic work ethics have a significant impact. The findings of the mediation study reveal that Islamic organizational culture, leadership, and spiritual intelligence influences organizational commitment through Islamic work ethic. The total effect analysis shows that the most effective path to increasing teachers’ organizational commitment is Islamic leadership - Islamic work ethic – organizational commitment. Originality/value – This study evaluates the Integrative Model of Organizational Behavior by Colquitt (2016) applied in Islamic Boarding School. The model consists of contemporary leadership and individual characteristic as the antecedent. The mediating variables of the model consist of individual mechanisms such as trust, justice, and ethic. Individual performance and organizational commitment are the model's outcomes. These variables, on the other hand, do not represent the Islamic viewpoint as a whole. As a result, this study aims to assess the role of Islamic principles in the model. The study employs reliability and validity tests to get reliable and valid measures. The findings revealed that the evaluation model is proven to improve organizational commitment at Islamic Boarding School.

Keywords: Islamic leadership, Islamic spiritual intelligence, Islamic work ethic, organizational commitment, Islamic boarding school

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Authors: Jamaludin Tarkim, Yoga Teguh Guntara, Maftuhah

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Islamic leadership style is model of leadership style applied by the Prophet Muhammad SAW. Islamic leadership style is applied, namely Syura (deliberation), ‘Adl bil qisth (justice, with equality), and Hurriyyah al-kalam (freedom of expression) and along with the values of Islam in the Islamic leadership style. This research aims to gain an overview of the experience of Head Nurse in the implementation of Islamic leadership style. This research is a qualitative one with descriptive phenomenology design through in-depth interviews. Participants were occupied as Head Nurse at the Hospital room Syarif Hidayatullah, set directly (purposive) with the principle of suitability (appropriateness) and sufficiency (adequacy). Retrieval of data and research conducted during the month of June 2014. Data collected in the form of recording in-depth interviews and analysis with Collazi method. This research identified four themes Syura (deliberation);‘Adl bil qisth (justice, with equality); Hurriyyah al-kalam (freedom of expression) and along with the values of Islam in the Islamic leadership style. The results of this research can provide a review of the Head Room experience in the application of Islamic leadership style at Syarif Hidayatullah Hospital already skilled leadership during the process, but the application is still not maximized. Required further research on in-depth exploration of how to get more comprehensive results from room Head Nurse experience in the application of Islamic leadership style, as well as subsequent researchers can choose a wider scope and complex so get more complete data.

Keywords: experience, Islamic leadership style, head nurse, nursing management

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Authors: Gadah Alkeniah

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Leadership is acknowledged internationally as fundamental to school efficiency and school enhancement nevertheless there are various understandings of what leadership is and how it is realised in practice. There are a number of educational leadership models that are considered important. However, the present study uses a systematic review method to examine and compare five models of the most well-known contemporary models of leadership as well as introduces the dimension of each model. Our results reveal that recently the distributed leadership has grown in popularity within the field of education. The study concludes by suggesting future directions in leadership development and education research.

Keywords: distributed leadership, instructional leadership, leadership models, moral leadership, strategic leadership, transformational leadership

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Authors: Leilei Liang

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Leadership is commonly classified as formal leadership and informal leadership, which ignores and neglects the effects of 3rd type leadership. The emergence of 3rd type of leadership is closely related to special relations. To figure out the mechanism and effects of 3rd type leadership as well as the impacts of formal leadership and informal leadership on employee performance, this study collects data from 350 participants through a survey and proposes three hypotheses respectively from the perspective of expectation theory. The analytical results provide strong evidence for two of the three hypotheses, which demonstrate the positive correlation between formal leadership and individual performance and the negative relationship between 3rd type leadership and individual performance. This study contributes to leadership literature by putting forward the concept of the 3rd type of leadership. In addition, the effects of formal leadership, informal leadership, and 3rd type leadership on individual performance are discussed respectively in this study.

Keywords: formal leadership, informal leadership, 3rd leadership, individual performance, expectation theory

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

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

Keywords: conventional leadership, Islamic leadership, comparative, dimensions

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Authors: Galih Mediana

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Boarding school can helps students to turn all good qualities into habits. The process of forming one's personality can be done in various ways. In addition to gaining general knowledge at school during learning hours, teachers can instill values in students which can be done while in the dormitory when the learning process has ended. This shows the important role that must be played by boarding school’s teachers. Transformational leadership and a culture of innovation are things that can instill innovative behavior in teachers. This study aims to determine the effect of perceptions of transformational leadership and a culture of innovation on innovative work behavior among Islamic boarding school teachers. Respondents in this study amounted to 70 teachers. To measure transformational leadership, a modified measuring tool is used, namely the Multifactor Leadership Questionnaire (MLQ) by Bass (1985). To measure innovative work behavior, a measurement tool based on dimensions from Janssen (2000) is used. The innovation culture in this study will be measured using the innovation culture factor from Dobni (2008). This study uses multiple regression analysis to test the hypothesis. The results of this study indicate that there is an influence of perceptions of transformational leadership and innovation culture factors on innovative work behavior in Islamic boarding school’s teachers by 57.7%.

Keywords: transformational leadership, innovative work behavior, innovation culture, boarding school, teacher

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Authors: Ahmet Sekreter

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

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

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Authors: Mochammad Thalut

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This essay discusses how educational leadership response the Muslims pupils’ problems and their expectation about education in the UK. As we know, the Muslims community in the country is increasing. However, the debate about educational leadership is still limited to the separation between religion and academic by westerns approach. It is found that there are four major problems of Muslims pupils that need to solve by the educational leader to provide social justice in education. Leader-teacher as an Islamic concept of the educational leader is an alternative approach that can be used by the educational leader to overcome the problems. In the end, it is strongly recommended to bring this issue to the leadership development program in the UK to give all aspiring heads understanding about Muslims expectation about education.

Keywords: Muslim, education, leadership, identity

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Authors: So-Jung Kim, Kyoung-Seok Kim, Yeong-Gyeong Choi

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Although there are many theories and discussion of leadership, the necessity of having a new leadership paradigm was emphasized. The existing leadership characteristic of instruction and control revealed its limitations. Market competition becomes fierce and economic recession never ends worldwide. Of the leadership theories, servant leadership was introduced recently and is in line with the environmental changes of the organization. Servant leadership is a combination of two words, 'servant' and 'leader' and can be defined as the role of the leader who focuses on doing voluntary work for others with altruistic ethics, makes members, customers, and local communities a priority, and makes a commitment to satisfying their needs. This leadership received attention as one field of leadership in the late 1990s and secured its legitimacy. This study discusses the existing research trends of leadership, the concept, behavior characteristics, and lower dimensions of servant leadership, compares servant leadership with the existing leadership researches and diagnoses if servant leadership is a useful concept for further leadership researches. Finally, this study criticizes the limitations in the existing researches on servant leadership.

Keywords: leadership philosophy, leadership theory, servant leadership, traditional leadership

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Authors: Asif Zaheer Shaikh, Zhaoyong Zhang, Jaime Yong, Ume Laila Shah

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Islamic finance is growing with remarkable pace, especially Islamic banking, a major segment of Islamic finance, is expanding rapidly. This paper discusses the position of Islamic finance and Islamic banking, around the world in general and particularly in Pakistan. History of Islamic banking in Pakistan is protested, presently a significant growth is observed. However Islamic banking is confronting with number of challenges, which are refraining from sustainable growth of this industry in Pakistan. Growth level of Islamic banks should be steeper to contribute substantial share in country’s economy. It is important to formulate effective policies, at institutional and operational level to address these challenges through close collaboration of key stakeholders.

Keywords: Islamic finance, challenges, Islamic banking, Pakistan

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Authors: Husnul Isa Harahap

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On December 2, 2016 occurred mass movements in Indonesia, led by the National Movement of Fatwa Guard, Indonesian Ulema Council (GNPF MUI). This movement is named 212 in accordance with the date, and also called The Third Islamic Defend Action, a continued movement of Islamic defend earlier (November 4, 2016 and October 14, 2016). All three movements have raised the issue of the demand that Basuki Tjahaja Purnama (Jakarta governor) also known as Ahok put on trial for allegedly insulting the Quran. The interesting view of this movement is that: first, the great social movement could emerge from a small but sensitive issues. Second, although this movement followed by radical Islamic groups, that movement known as the largest and most peaceful Islamic Movement in Indonesia. Third, the movement succeeded in answer the doubts of many parties that the social movements with large masses can not maintain security, order, and even the cleanliness of the site action. What causes all this happen? First, the emphasis on the use of basic religious elements that Islam is love for peace. Second, the role of leadership that is trusted and based on religious relationship. Third, this movement is well organized and trying reflect Islamic values.

Keywords: Islamic values, social movement, peaceful group, sensitive issue

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Authors: Rawaa El Ayoubi

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Many researchers, academics and practitioners have developed leadership theories during the 20th century. This substantial effort has built more leadership theories, generating considerable organisational research on leadership models in contemporary literature. This paper explores the stages and drivers of leadership theory evolution based on the researcher’s personal conclusions and review of leadership theories. The purpose of this paper is to create a Leadership Process Model (LPM) that can provide guidance in dealing with the key challenges within the organisation. This integrative model of organisational leadership is based on inner meaning, leader values and vision. It further addresses the relationships between leadership theory, practice and development, exploring why challenges exist within the field of leadership theory and how these challenges can be mitigated.

Keywords: leadership challenges, leadership process model, leadership |theories, organisational leadership, paradigm development

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Authors: Zairani Zainol, Zulkiflee Daud

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This study employed 86 respondents representing bank officers of Bank XYX (one of the full-fledged Islamic banks in Malaysia) in the northern region of Malaysia to assess the factors that constitute talent in the Islamic financial industries. To test the discriminant factors for talent among bank officers, a factor analysis was performed. The KMO, Bartlett and MSA tests were executed as the prerequisite before performing the factor analysis. The discriminant factors for talent were extracted via eigenvalues and rotated component matrixes. The results show that five factors, namely (1) self-motivation, (2) leadership, (3) teamwork, (4) interpersonal skills, and (5) creativity/innovation constitute talent in the Islamic financial industries. It is hoped that this study could offer guidelines to education providers, specifically those that conduct the Islamic finance and banking program, as to the areas of emphasis for students before graduating. For the Islamic financial institutions, this study is also vital since they could tackle the areas that need to be improved in managing their talents.

Keywords: talent, Islamic financial industries, talent development, bank’s officers

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Authors: Seyed Razi Nousavi Gilani

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Islamic culture and especially the Shia is full of mystical and philosophical elements. A close look at the history of Islamic civilization, which is supposed to represent the teachings and words of faith leaders with the knowledge and use of the philosophical and mystical concepts, has influenced Islamic art. This article explains the influence of Shiite Islamic teachings and their teachings of mystical elements on Islamic art and examines as case studies in the arts such as architecture, calligraphy and painting. These arts have always been associated with mystical and philosophical teachings in view of traditional artists.

Keywords: mystics, Islamic Art, Islamic culture, mystic

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Authors: Parviz Abadi

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It has been well established that leadership is the key driver in the success of organizations. Therefore, understanding leadership and finding styles that deliver improvements in leadership enable leaders to enhance their skills, which will significantly contribute to having an improved performance of the organization. There has been ample research on various theories of leadership. Leadership is meaningless unless it has people who are the followers. Furthermore, while people constitute many nations, studies have demonstrated that the majority of the population of the world adheres to some type of religion. Therefore, the study of the leadership of founders of religions is of interest. In this context, the term ‘Divine Leadership’ is created. Subsequently, historical texts and literature were reviewed to ascertain if this leadership could be defined in an academic context. Furthermore, evaluation of any leadership is an essential process in assessing the value that it may bring to society or organizations. Therefore, it was necessary to define characteristics that could be assigned to such leadership. The research led to the development of a leadership theory, where, due to the scope, only five dimensions were assigned. The study has continued to develop a theoretical model in line with quantitative research on the effectiveness of this leadership in enhancing the performance of organizations.

Keywords: leadership theory, management, motivation, organizations

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Authors: Eman S. Soliman, Sana Hawamdeh, Najmus S. Mahfooz

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Purpose: The purpose of this paper was to examine various components of applied emotional intelligence as demonstrated in the leadership style of Khadijah Bint Khuwaylid in pre and post-Islamic society. Methodology: The research used a qualitative research method, specifically historical and ethnographic techniques. Data collection included both primary and secondary sources. Data from sources were analyzed to document the use of emotional intelligent leadership behaviors throughout Khadijah Bint Khuwaylid leadership experience from 596 A.D. to 621 A.D. Findings: Demonstration of four cornerstones of emotional intelligence which are self-awareness, self-management, social awareness and relationship management. Apply them on khadejah Bint Khuwaylid leadership style reveal that she possess main behavioral competences in the form of emotionally self-aware, self-.confidence, adaptability, empathy and influence. Conclusions: Khadijah Bint Khuwaylid serves as a historical model of effective leadership that included the use of emotional intelligence in her leadership behavior. The inclusion of the effective portion of the brain created a successful leadership style that can be learned by present day and future leadership. The recommendations for future leaders are to include the use of emotionally self-aware and self-confidence, adaptability, empathy and influence as components of leadership. This will then demonstrate in a leadership a basic knowledge and understanding of feelings, the keenness to be emotionally open with others, the ability to prototype beliefs and values, and the use of emotions in future communications, vision and progress.

Keywords: emotional intelligence, leadership, Khadijah Bint Khuwaylid, women

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Authors: Ojeka Alexandra

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The study investigated the leadership effectiveness of leaders of tertiary institutions in Nigeria. The study sought to examine the leadership styles adopted, the leadership energy and effectiveness of the leaders of two tertiary institutions. The research was undertaken at two institutions, one Polytechnic and one University. The population of the study was the lecturers and the heads of departments of the two institutions. The leadership matrix and leadership effectiveness index questionnaires were employed to collect quantitative and qualitative data. The preferred and practiced styles were compared and contrasted to determine whether or not they were used to achieve goals and objectives of the lecturers and the organizations. The recommendations contribute towards the academic and professional development of the lecturers and their institutions.

Keywords: leadership, leadership effectiveness, leadership energy, tertiary institutions, and leadership styles

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Authors: Mohammad Iqbal Maiik

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Islamic marketing ethics combines the principle of value maximization with the principles of equity and justice for the welfare of the society. Adherence to the Islamic ethics in the Islamic banking industry can help elevate the standards of both behavior and living of bankers and customers alike. In a rapidly changing marketing environment, the need to be customer-focused has never been as important as it is today. At present where customers are becoming more demanding and increasingly mobile between competing financial providers, being customer-focused is not enough. Islamic banks and more specifically their customer-contact employees (customer relation advisers or officers) need to be perceived by their customers as being Islamic. This study represents an initial step in analyzing the role of Islamic ethical sales behavior as it may be perceived by the customers of Islamic Banks.

Keywords: Islam, ethics, marketing, Islamic banks

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Authors: Mohammad Torabiyan, Kazem Mosawi Nejad

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Today architecture has become as a powerful media for introducing cultures to the world, which in turn brings about a change in the global insight, power gaining, investment and development. Islamic architecture is based on the language of Koran and shows the depth and richness of Islam through spiritual soul. This is in a way that belief in monotheism and faith in Islamic teachings are manifested as Islam's aesthetic thought in Islamic architecture. Unfortunately, Islamic architecture has been damaged a lot due to lack of necessary information and also successive wars which have overtaken the Muslims as well as the dominance of colonizing counties. Islamic architecture is rooted in the history, culture and civilization of Muslims but its deficiencies and shortcomings should be removed through systematizing the Islamic architecture researchers. Islamic countries should act in a way that the art of Islamic architecture shows its true place in different architecture eras and makes everybody aware that Islamic architecture has a historical root and is connected eternally to the genuineness, religious art and culture of Muslims and civilization.

Keywords: art, culture, civilization, Islamic architecture, Muslims

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Authors: Abul Shamsuddin

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The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures.

Keywords: Dow Jones Islamic market index, FTSE global Islamic index, ethical investment, finance

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Authors: Mahmood Mohammed Abdulsattar Aljumaili

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Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks.

Keywords: Islamic banks, Basel 1-2 agreement, most important contemporary challenges, islamic banking industry, Dow Jones Islamic market

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Authors: Janiel David Melamed Visbal

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The Islamic State has become one of the most remarkable threats for international security through their religious extremism and their establishment of a new caliphate by force. The main objective of this organization is to obtain territorial expansions beyond the Middle East and eventually to consolidate an Islamic global order based on their extremist ideology. This paper will conduct an analysis regarding how, over the past year, many jihadist organizations worldwide have pledged their alliagance to the Islamic State, transforming it into the most important jihadist franchise globally.

Keywords: Islamic state, franchise, jihad, Islamic fundamentalism, caliphate

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Authors: Shaibu Ali, Sherif Heiman Shaban, Musah Ismaila, Imoro Alhassan, Yusif Ali

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Purpose: Islamic banking and finance is one of the most rapidly growing segments of the global finance industry. Starting with the Dubai Islamic Bank in 1975, the number of Islamic financial institutions worldwide has shot up astronomically, to over three hundred, with operations in seventy-five countries and assets in excess of US$400 billion. The purpose of this study is to explore the prospects and challenges of Islamic banking introduction in a non-Islamic country like Ghana. Design/Methodology: Data for the study was collected via an expert opinion of three Islamic scholars on Islamic banking from Ghana. Findings: Findings from this study indicates some of the benefits of Islamic banking includes connecting financial markets and economic activity, promoting the principle of financial justice, greater stability, avoiding economic bubbles (and bursts) and reducing the impact of harmful products and practices. The study also identified lack of experts in various fields of Islamic banking, product innovation, moral hazard, and need for experienced staff in Islamic banking as some of the challenges to Islamic banking system’s introduction. Contribution: The study contributes to literature on Islamic banking from a non-Islamic country like Ghana.

Keywords: Islamic banking, Shari’ah, Riba, conventional banking

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Authors: Mahfoud Djebbar

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The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed.

Keywords: islamic financial engineering, hedging and risk management, innovation, securitization, money market instruments, islamic capital markets

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Authors: Mohamed Saad Ahmed Hussien

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This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.

Keywords: conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management

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Authors: Paul W. Murray

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This research explores the relationship between leadership style and continuous improvement (CI) teams. CI teams have several features that are not always found in other types of teams, including multi-functional members, short time period for performance, positive and actionable results, and exposure to senior leadership. There is not only one best style of leadership for these teams. Instead, it is important to select the best leadership style for the situation. The leader must have the flexibility to change styles and the skill to use the chosen style effectively in order to ensure the team’s success.

Keywords: leadership style, lean manufacturing, teams, cross-functional

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Authors: Mohd Yazid M. Yunos, R. Arinah, Nor Kalsum M. Isa, U. Nangkula, Nor A. Ismail, Nor F. Ariffin

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Islamic City planning is a concept of optimizing the overall arrangement of land use without compromising community. The concept was influenced by the specific intentions in mind, applying certain ideological principles and objectives rooted in Islamic faith and Muslim culture using distinct design elements. Holy Quran and hadiths provide a foundation for understanding Islamic Principles as clearly shared by the established Islamic Cities such as Medina, Mecca and Jerusalem. This paper aimed to explore the principles and elements of an Islamic City through the review of relevant literature by the means of Content Analysis method. A theoretical framework of Islamic City Principles was then formulated to be the main outcome of the study. The finding is very important to be a useful starting point for future study, especially for formulating a clear guide for the development of upcoming Islamic City in Malaysia.

Keywords: Islamic principles, sustainable city planning, Islamic city, Malaysia

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Authors: Camille Paldi

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As the Islamic finance industry is growing annually at a rate of 10% to 15% per year, it is imperative that a unique, independent legal framework is established in order to effectively adjudicate Islamic finance disputes. Currently, Islamic finance disputes are being adjudicated in inadequate civil and common law courts and arbitration centers where the contracts in dispute are being transformed from Islamic to conventional transactions. Through case analysis combined with an exploration of the efficacy of existing arbitration centers and dispute resolution methods available to Islamic finance, this paper will seek to reveal that the Islamic finance industry currently lacks an adequate dispute resolution mechanism and facility to adjudicate disputes arising from Islamic finance contracts. Hence, now is the time for the Dubai World Islamic Finance Arbitration Center (DWIFAC) and Jurisprudence Office (DWIFACJO) as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry.

Keywords: Islamic finance, dispute resolution, Dubai world Islamic finance arbitration center, jurisprudence office

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Authors: Parviz Abadi

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Leadership is a key driver in organizational achievement. The research presented herein intends on providing the tools for assessing Divine Leadership, which imperative in quantitative evaluations of a leadership. The effectiveness of this leadership has never been examined. There are various tests that can be applied to this leadership, such as evaluation of it against follower motivation, or the impact it has on organizational success, etc. One of the common means of evaluation of a phenomenon is to conduct a quantitative study on the hypothesis related to the subject. The dimensions enacted in this leadership consisted of Humility, Integrity, Empowerment, Altruism, and Visionary. However, these elements of the construct of leadership are latent subjects and cannot easily be assessed. Therefore, it is necessary to develop tangible items that can relate to the construct. The study presented herein was conducted to develop the scales that were tangible and could have been applied in a quantitative study to assess this leadership. The study led to generating a detailed questionnaire, which consisted of 40 questions, that could be presented to participants in the survey.

Keywords: leadership, management, scale development, organizations

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Authors: Tasawar Nawaz

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Promotion of socioeconomic justice through redistribution of wealth is one of the most salient features of Islamic economic system. Islamic financial institutions known as Islamic banks are used to implement this in practice under the guidelines of Islamic Shariah law. Islamic banking systems strive to promote and achieve financial inclusion among the society by offering interest-free banking and risk-sharing financing solutions. Shariah-compliant micro finance is one of the most popular financial instruments used by Islamic banks to enhance access to finance. Benevolent loan (or Qard-al-Hassanah) is one of the popular financial tools used by the Islamic banks to promote financial inclusion. This aspect of Islamic banking is empirically examined in this paper with specific reference to firm’s resources, largely defined here as intellectual capital. The paper finds that Islamic banks promote financial inclusion by exploiting available resources especially, the human intellectual capital.

Keywords: financial inclusion, intellectual capital, Qard-al-Hassanah, Islamic banking

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