Search results for: Islamic leadership

Authors: Inten Meutia, Emylia Yuniarti

Abstract:

The objective of this study is to analyze the effects of interest rate, the rate of return of Islamic banks on the amount of mudarabah deposits in Islamic banks. In analyzing the effect of rate of return in the Islamic banks and interest rate risk in the conventional banks, the 1-month Islamic deposit rate of return and 1 month fixed deposit interest rate of a total Islamic deposit are considered. Using data covering the period from January 2010 to Sepember 2013, the study applies the regression analysis to analyze the effect between variable and independence t-test to analyze the mean difference between rate of return and rate of interest. Regression analysis shows that rate of return have significantly negative influence on mudarabah deposits, while interest rate have negative influence but not significant. The result of independent t test shows that the interest rate is not different from the rate of return in Islamic Bank. It supports the hyphotesis that rate of return in Islamic banking mimic rate of interest in conventional bank. The results of the study have important implications on the risk management practices of the Islamic banks in Indonesia.

Keywords: conventional bank, interest rate, Islamic bank, rate of return

Procedia PDF Downloads 483

Authors: Sajjad Shalsouz, Hamid karamipour

Abstract:

Islamic civilization after a period of glory in the ninth and tenth centuries AD, known as the Islamic Renaissance, stagnated and declined from the eleventh century, despite the political and military power of Islamic governments, faced a scientific and cultural decline in later, foreign invaders such as the Mongol invasion, the Crusades, and Timur invasions also caused severe political, social, and economic instability, some of which were never remedied. Lack of growth of intellectual sciences in Islamic societies, which is necessary for the growth and development of any civilization, and lack of attention of the ruling class and the masses to this important factor, the tyranny of kings, social and economic turmoil from the thirteenth century onwards, absence of Islamic societies from global developments all intensified and stabilized the decline Islamic civilizations, the consequences of which are still evident. This article tries to deal with the historical factors of this decline and decadence from the 11th century to the contemporary era by examining historical events and issues and achieves a desirable and efficient result in this field.

Keywords: Islamic civilization, decline, historical factors, intellectual sciences

Procedia PDF Downloads 69

Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

Abstract:

Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

Procedia PDF Downloads 330

Authors: Ahmad Abdulkadir Ibrahim

Abstract:

The Islamic law of transactions laid down the methods and instruments of accounting and analyzed its basic assumptions in the modern world. There is a need to examine the implications of accounting initiatives in the Muslim world and attempt to outline the important characteristics of Islamic accounting and how Islamic accounting resolves the problem of measuring the cost of Murabaha goods in case of exchange rate variation. The research tends to discuss an analytical approach to the Islamic accounting concept as well as elaborating the jurisprudential matter and practical aspects of accounting in Islamic financial transactions. It also aims to alert the practitioners of accounting in the Islamic world to be aware of the concept of accounting in Islamic jurisprudence and its historical development. The methodology adopted in this research is the qualitative method through the consultation of relevant literature, which focuses on the thematic study of the subject matter. This is followed by an analysis and discussion of the contents of the materials used. It is concluded that Islamic accounting is unique in its norms as it has been characterized by fairness, accuracy in measuring tools, truthfulness, mutual trust, moderation in making a profit, and tolerance. It was also qualified by capacity and flexibility in terms of the tools and terminology used and invented by Islamic jurisprudence in the accounting system, which indicates its validity and consistency anytime and anywhere. An important conclusion of the research also lies in the refutation of the popular idea that an Italian writer known as Luca Pacilio was the first writer who developed the basis of double-entry due to the presented proofs by Muslim scholars of critical accounting developments, which cannot be ignored. It concludes further that Islamic jurisprudence draws the accounting system codified in the foundations of a market that is far from usury, fraud, cheating, and unfair competition in all areas.

Keywords: accounting, Islamic accounting, Islamic transactions, Islamic jurisprudence, double entry, murabaha, characteristics

Procedia PDF Downloads 37

Authors: Bilal Liaqat, Muhammad Umar, Zara Bashir, Hassan Rafique, Mohsin Abbasi, Zarak Khan

Abstract:

Transformational leadership is one of the most studied topics in the organization sciences. However, the impact of transformational leadership on employee’s individual attributes have not yet been studied. Purpose: This research aims to discover the relationship between transformational leadership and employee motivation, performance and creativity. Moreover, the study will also investigate the influence of transformational leadership on employee performance through employee motivation and employee creativity. Design-Methodology-Approach: The data was collected from employees in different organization. This cross-sectional study collected data from employees and the methodology used includes survey data that were collected from employees in organizations. Structured interviews were also conducted to explain the outcomes from the survey. Findings: The results of this study reveal that transformational leadership has a positive impact on employee’s individual attributes. Research Implications: Although this study expands our knowledge about the role of learning orientation between transformational leadership and employee motivation, performance and creativity, the prospects for further research are still present.

Keywords: employee creativity, employee motivation, employee performance, transformational leadership

Procedia PDF Downloads 190

Authors: Ameen Alshugaa, Farrukh Habib

Abstract:

Shariah (the Islamic law) sanctions a plethora of profit-sharing arrangements for financial transactions. However, when it comes to the practice of Islamic banking, it is felt by the scholars and practitioners that many of these arrangements often fail to compensate different parties of a financial transaction compared to conventional banking, due to the Riba (interest / usury) element. This issue is caused by the parties inability to codify these compensations in any contract so as to avoid Riba. Here, hibah (gift) may be regarded as one of the solutions. In essence, hibah is a unilateral charity contract where a party voluntarily gives away something to another party without any counter value. This paper attempts to analyse theoretical and practical aspects of hibah from the perspective of Islamic law, enunciating its legality and detailing its allowance in Islamic banking. It also discusses several practices evaluating the role of hibah in resolving issues related to Riba. In particular, these practices demonstrate the validity of hibah as a way to distribute revenues and compensate parties in Islamic financial transactions, while achieving competitive advantage over conventional banking, and avoiding the element of Riba.

Keywords: hibah (gift), Islamic Finance, Islamic Law of Contract, profit distribution, Shariah

Procedia PDF Downloads 270

Authors: Siqi Fang, Jingxi Hou

Abstract:

Positive psychology and coaching psychology share a number of fundamental assumptions and common themes. Blending positive psychology, mindfulness, and coaching psychology, our work in team coaching with leaders enhances both leadership and team effectiveness. Although individual coaching has proven to be effective, this article advocates the benefits of leadership coaching in team settings, because durable changes in leadership behaviors are more likely to occur. Does leadership team coaching really work? Does it help improve senior leadership team effectiveness and productivity? This action research study answers these questions by tracking the progress of three typical senior leadership teams consisting of 31 executives participating in a six-month team coaching program. Assessments (pre- and post), workshops, and feedback based on ego development theories and mindfulness were applied to upgrade the senior leadership teams’ transformational stages and reframe their organizational leadership cultures. Results suggest that the team effectiveness of the three leadership teams increased up to 43 percent according to post-survey feedback from superior, direct report, and peers. Discussion is offered to show that senior leadership team coaching help teams to achieve a consensus on common purposes, establish a foundation of trust, improve collective skills, and promote efficient operation. All factors translate into better team performance. Implications of the results for future executive development programs are discussed and specific recommendations are provided.

Keywords: action research, ego development, mindfulness, senior leadership team coaching, team effectiveness, transformational stages

Procedia PDF Downloads 338

Authors: Yanting Cao

Abstract:

The UK has strong economic growth, which attracts other countries to invest there through globalization. This research process will be based on quantitative and qualitative descriptive analysis using interviews. The secondary analysis will involve a case study approach to understand the important aspects of leadership skills. The research outcomes will be identifying the strength and weaknesses of the leadership skills of UK automobile manufacturing enterprises and suggest the best practices adopted by the respective countries for better results.

Keywords: engineering management, leadership, Industrial project management, Project managers, automobile manufacturing

Procedia PDF Downloads 161

Authors: Hatem Radwan Ibrahim Radwan

Abstract:

Leadership is crucial for hotel survival and success. It enables hotels to develop and compete effectively. This research intends to explore the implementation of six leadership styles by frontline hotel managers in four star hotels in Cairo and assess its impact on employees’ creativity and organizational commitment. The leadership patterns considered in this study includes: democratic, autocratic, laissez-faire, transformational, transactional, and ethical leaderships. Questionnaire was used as a research method to gather data. A structured survey was established and distributed on employees in Cairo’s four star hotels. A total of 284 questionnaire forms were returned and usable for statistical analysis. The results of this study identified that transactional and autocratic leadership were the prevalent styles used in four star hotels in Cairo. Two leadership styles proved to have significant high correlation and impact on employees’ creativity and organizational commitment including: transformational and democratic leadership. Besides, laissez-faire leadership was found had a smaller effect on employees’ creativity and ethical leadership had a lesser influence on employees’ commitment. The autocratic leadership had strong negative correlation and significant impact on both dependent variables. This research concludes that frontline hotel managers should adopt transformational and/or democratic leadership style in managing their subordinates.

Keywords: creativity, hotels, leadership styles, organizational commitment

Procedia PDF Downloads 114

Authors: Rafat Y. Alwazna

Abstract:

Certain religious texts are deemed part of legal texts that are characterised by high sensitivity and sacredness. Amongst such religious texts are Islamic legal texts that are replete with Islamic legal terms that designate particular legal concepts peculiar to Islamic legal system and legal culture. However, from the syntactic perspective, Islamic legal texts prove lengthy, condensed and convoluted, with little use of punctuation system, but with an extensive use of subordinations and co-ordinations, which separate the main verb from the subject, and which, of course, carry a heavy load of legal detail. The present paper seeks to examine the syntactic features of Islamic legal texts through analysing a short text of Islamic jurisprudence in an attempt at exploring the syntactic features that characterise this type of legal text. A translation of this text into legal English is then exercised to find the translation implications that have emerged as a result of the English translation. Based on these implications, the paper compares and contrasts the syntactic features of Islamic legal texts to those of legal English texts. Finally, the present paper argues that there are a number of syntactic features of Islamic legal texts, such as nominalisation, passivisation, little use of punctuation system, the use of the Arabic cohesive device, etc., which are also possessed by English legal texts except for the last feature and with some variations. The paper also claims that when rendering an Islamic legal text into legal English, certain implications emerge, such as the necessity of a sentence break, the omission of the cohesive device concerned and the increase in the use of nominalisation, passivisation, passive participles, and so on.

Keywords: English legal texts, Islamic legal texts, nominalisation, participles, passivisation, syntactic features, translation implications

Procedia PDF Downloads 185

Authors: Yin-Tsuo Huang

Abstract:

Most leadership theories focus on leader's development. However, in reality, the led is also very important in the leadership process. Development relates to ensure the individual to grow in the skills, knowledge, and abilities to perform at leaders’ highest possible level now and for the future. The topic area of the relationships among leadership styles, subordinate maturity, and information distinction was identified because it is a practical problem and personal experiences occurring in multinational enterprises. Some questions to be answered through this critical analysis of the literature are: (1) What are the effective leadership styles in the leader-member and member-member relationships? (2) How do the subordinates react to leaders’ managerial style? (3) What are the relationships among leadership styles, subordinate maturity, and resulting information distinction? (4) What kinds of information distinction effects the relationships between leadership styles and subordinate maturity? (5) Where do leaders and subordinates can get information, and how? (6) In what areas are leaders’ or subordinates’ knowledge weakest, and how can they get others to prove the information they need? (7) How important is that information to the subordinates? (8) Do the leaders keep too much information for their subordinates because it is inconvenient? The main purpose of this review is to explore the theoretical and empirical literature about the relationships among leadership style, subordinates maturity, and information distinction implications in multinational Taiwanese organizations to identify areas of future scholarly inquiry.

Keywords: leadership style, subordinate maturity, information distinction, multinational organization

Procedia PDF Downloads 471

Authors: Khairul Hasni

Abstract:

A Memorandum of Understanding (MoU) for the cessation of hostilities was signed by Aceh's longstanding adversaries (the Government of Indonesia and the Free Aceh Movement (GAM) in August 2005. The Government of Indonesia has given the autonomy to Aceh Province of Indonesia, the Law Number 11 of 2006 the authority of the Aceh government to the implementation of the Islamic Sharia. The implementation of Islamic Sharia, Aceh can be a role model of Islam that glorifies women, the implementation of Islamic law in Aceh when enacted and got legality because it supported the socio-cultural and historical community. The value of the value of women's lives is shifted under the pressure of applying Islamic law, with this argument, the importance of justice and equality of policy enforcement in women's lives. Based on interviews conducted in 2016 and 2017 with women's activists, government officials, women non-governmental organizations in Aceh, this paper finds that there is lack of gender balance because of the many problems involving women in the enactment of regional regulations and control policies on women's bodies. The research points to ensure the implementation of Islamic Sharia practitioners have only directed to women and discrimination against women.

Keywords: women, policy, Islamic law, social

Procedia PDF Downloads 268

Authors: Siamrotul Ayu Masruroh

Abstract:

Cases of sexual violence among Islamic boarding schools have now reached a point of equal concern with other cases of sexual violence that have occurred in universities, schools, offices, mass halls, and even churches. Worse yet, several cases of sexual violence that occurred in Islamic boarding schools were actually carried out by religious authorities such as kyai, caregivers, and ndalem families. This article discusses the phenomenon of cases of sexual violence and mistreatment of victims with cases that occurred in the Shiddiqiyyah Islamic boarding school, the importance of creating a safe space, preventing and dealing with sexual violence in Islamic boarding schools. The author uses the theory of masculinity from Raewyn W. Connell to see sexual violence in Islamic boarding schools and its relation to masculinity and femininity. In addition, the author also uses the spiral theory of violence from Dom Helder Camara to analyze the persecution case. The author conducted a literature study, observation, questionnaire, and interviews in the process of this research.

Keywords: sexual violence, islamic boarding school, safe space, women

Procedia PDF Downloads 142

Authors: Rashid Masoud Ali Al-Mazrui, Ramadhani Mashaka Shabani

Abstract:

Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance.

Keywords: emerging risk, risk management, Islamic banking, conventional bank

Procedia PDF Downloads 42

Authors: Minjeoung Kim

Abstract:

Since women obtained the right to vote in 1893 for the first time in New Zealand, they have tried to participate actively into politics but still the world has a few women in political leadership. The article asks which factors might influence the appearance of women leadership in politics. The article investigates two factors such as political context, personal factors. Countries where economic development is stable and political democracy is consolidated have a tendency of appearance of women political leadership but in less developed and politically unstable countries, women politicians can be in power with their own reasons. For the personal factor, their feminist propensity is studied but there is no relationship between the appearance of women leaders and their feminist propensity.

Keywords: women political leadership, political context, slow track, transitory countries, feminist propensity

Procedia PDF Downloads 378

Authors: Iva Buchberger, Vesna Kovač

Abstract:

Global education policy trends and recommendations underline the importance of (distributive) school leadership as a school effectiveness key factor. In this context, the broader aim of this research (supported by the Croatian Science Foundation) is to identify school leadership characteristics in Croatian schools and to examine the correlation between school leadership and school effectiveness. The aim of the proposed conference paper is to focus on the school leadership characteristics which are additionally explained with school leadership facilitators that contribute to (distributive) school leadership development. The aforementioned school leadership characteristics include the following dimensions: (a) participation in the process of making different types of decisions, (b) influence in the decision making process, (c) social interactions between different stakeholders in the decision making process in schools. Further, the school leadership facilitators are categorized as follows: (a) principal’s activities (such as providing support to different stakeholders and developing mutual trust among them), (b) stakeholders’ characteristics (such as developed stakeholders’ interest and competence to participate in decision-making process), (c) organizational and material resources (such as school material conditions, the necessary information and time as resources for making decisions). The data were collected by a constructed and validated questionnaire for examining the school leadership characteristics and facilitators from teachers’ perspective. The main population in this study consists of all primary schools in Croatia while the sample is comprised of 100 primary schools, selected by random sampling. Furthermore, the sample of teachers was selected by an additional procedure taking into consideration the independent variables of sex, work experience, etc. Data processing was performed by standard statistical methods of descriptive and inferential statistics. Statistical program IBM SPSS 20.0 was used for data processing. The results of this study show that there is a (positive) correlation between school leadership characteristics and school leadership facilitators. Specifically, it is noteworthy to mention that all the dimensions of school leadership characteristics are in positive correlation with the categories of school leadership facilitators. These results are indicative for the education policy creators who should ensure positive and supportive environment for the school leadership development including the development of school leadership characteristics and school leadership facilitators.

Keywords: distributive school leadership, school effectiveness , school leadership characteristics, school leadership facilitators

Procedia PDF Downloads 229

Authors: Ojo Adeshina Akinwumi

Abstract:

This study investigated leadership style and organizational culture as predictors of unethical work behaviour among employees in corporate organizations. This study adopted an expo facto research design. Two Hundred and Seventy-Four (274) employees (149 males, 125 females) sampled from the organization participated in the study. Their ages ranged from 19 to 65, with a mean of 36.36 years and a standard deviation of 10.43. Unethical Work Behaviour was measured using Unethical Work Behaviour Scale (UWBC), Organizational Culture was measured using Organizational Culture Scale, (and OCS and Leadership Styles were measured using Multifactor Leadership Questionnaire (LSMLQ). Two hypotheses were formulated and tested using Pearson Product Moment Correlation and Multiple Regressions Analysis. Results indicated that leadership styles had no significant relationship with unethical work behaviour (r(274)=.09;>0.05). However, organizational culture had a significant relationship with unethical work behaviour (r(274)=.15;p,0.05). Lastly, leadership style and organizational culture jointly predicted unethical work behaviour among employees. [F (2, 273) =3.65, p<0.05). Findings from this study were discussed in line with existing literature. It was also recommended that leadership styles and organizational culture should be improved upon in order to reduce unethical work behaviour by employees.

Keywords: leadership style, organizational culture, unethical work behavior, employees in corporate organisations in Nigeria

Procedia PDF Downloads 74

Authors: Nisful Laila, Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum, Achsania Hendratmi

Abstract:

The purpose of this study is to determine and comparing the level of efficiency of Islamic Banks in Indonesia and United Kingdom during eurozone sovereign debt crisis. This study using a quantitative non-parametric approach with Data Envelopment Analysis (DEA) VRS assumption, and a statistical tool Mann-Whitney U-Test. The samples are 11 Islamic Banks in Indonesia and 4 Islamic Banks in England. This research used mediating approach. Input variable consists of total deposit, asset, and the cost of labour. Output variable consists of financing and profit/loss. This study shows that the efficiency of Islamic Bank in Indonesia and United Kingdom are varied and fluctuated during the observation period. There is no significant different the efficiency performance of Islamic Banks in Indonesia and United Kingdom.

Keywords: data envelopment analysis, efficiency, eurozone crisis, islamic bank

Procedia PDF Downloads 301

Authors: Peter Balco, Miriam Filipova

Abstract:

The university education is generally concentrated on acquiring theoretical as well as professional knowledge. The right mix of these knowledges is key in creating innovative as well as inventive solutions. Despite the understanding of their importance by the professional community, these are promoted with problems and misunderstanding. The reason for the failure of many non-traditional, innovative approaches is the ignorance of Leadership in the process of their implementation, ie decision-making. In our paper, we focused on the role of Leadership in the educational process and how this knowledge can support decision-making, the selection of a suitable, optimal solution for practice.

Keywords: leadership, soft skills, innovation, invention, knowledge

Procedia PDF Downloads 160

Authors: Meseret Mulugeta, Alemmebrat Kiflu, Belaynehchikle

Abstract:

The purpose of the present study was to examine the preferred leadership style and motivation of premier league volleyball players. The sample encompassed 46 female premier league volleyball players whose ages ranged between 15 and 35 years. The data were collected using standardized questionnaires. The questionnaires were distributed to 46 female players from five volleyball clubs in the Premier League. To evaluate the motivational level of the players, the Sports Motivation Scale (SMS-6) was used. The leadership scale for sport was used to evaluate leadership. Descriptive statistics and the person correlation coefficient (P <0.05) were used to validate the relationship between leadership style and motivation. The result showed that there is a meaningful and significant relationship between leadership style and motivation. Concerning preferred coaching styles, the most preferred style was training and instruction, with a mean score of 4.10, and the least preferred style was autocratic, with a mean score of 3.37. The result of the Pearson correlation coefficient showed that the correlation between motivation types and leadership styles showed that motivation was significantly and positively correlated with all independent variables except autocratic leadership style, which is negatively correlated with motivation. This study’s nobility is to provide evidence for the most effective coaching to practice the training and instruction behaviour and social support behaviour leadership styles and refrain from using the autocratic leadership style.

Keywords: autocratic, training and instruction, motivation, leadership style

Procedia PDF Downloads 46

Authors: Ibrahim Malik, Vita Fathimah Silondae, Askoning

Abstract:

The liberalization of Islamic thought is not only an impact on the views of Muslim community regarding worldview, but has touched the stage reconstruction of contemporary science. It can be seen from the emergence of Western and Eastern intellectual movements that try to reconstruct contemporary science arguing that scientific culture is not currently able to deliver audiences to change the order of the better society. Such Islamic thought liberalization has a huge influence on the multi-dimensional crisis in various sectors such as the economic, culture, politic, ecology, and other sectors. Therefore, this paper examines the effects of the liberalization of contemporary Islamic thought towards on the development of modern science. The method used in this paper is based on textual study of Al-Qur'an, Hadith (prophetic tradition), and the history of contemporary Islamic thought and comparing it with the reality of the development of science today. So, the influence of Islamic thought liberalization has created a crisis and stagnation of the development of scientific disciplines can be found.

Keywords: liberalization, science, Islam, development of science

Procedia PDF Downloads 398

Authors: Saeed Seyed Agha Banihashemi

Abstract:

The history of mathematics as one of the trends in the field of mathematics has special importance and in most of the important universities of the world, this trend in the field of mathematics is taught and researched. In teaching the history of mathematics and mathematics books, special attention is paid to the scientific works of the four Greek-Indian-Islamic and European civilizations, although the history of mathematics in China and East Asia is a special category due to its ancient civilization. In this article, while examining mathematics in the Islamic empire, the factors of the scientific rise and fall of the Islamic empire, which can include mathematics, have been studied. In this article, according to my own research and other sources mentioned s, It is believed the factors of scientific rise and fall in the Islamic Empire.

Keywords: history of mathematics, alkandi, cryptology, manuscripts

Procedia PDF Downloads 65

Authors: Suprihatin Soewarto

Abstract:

The background of writing this paper is to assess the truth of rejection of some Muslim scholars who develop Islamic economics on the concept of consumer satisfaction and replace it with the concept of maslahah. In the perspective of Islamic law, this rejection attitude needs to be verified in order to know the accuracy of the replacement of this concept of satisfaction with maslahah as part of consumer behavior. This is done so that replacement of rejection of the term satisfaction with maslahah is objective. This objective replacement of the term will surely be more enlightening and more just than the subjective substitution. Therefore the writing of this paper aims to get an answer whether the concept of satisfaction needs to be replaced? is it possible for Islamic law to confirm the theory of consumer satisfaction? The method of writing this paper using the method of literature with a critical analysis approach. The results of this study is an explanation of the similarities and differences of consumer satisfaction theory and consumer theory maslahah according to Islamic law. disclosure of the concept of consumer gratitude according to Islamic law and its implementation in Muslim consumer demand theory.

Keywords: consumer's gratitude, islamic law, confirmation, satisfaction consumer's

Procedia PDF Downloads 163

Authors: Muhammad Abdullahi Mago

Abstract:

Islamic Banking began in Nigeria last three years and the sector has shown the sign of bright future for the sector and the Nigerian economy, within this very short time it is important to know the perception of the customers particularly learned or educated individuals for immediate evaluation and adjustment. This study investigates into the perception, awareness and attitudes of the academicians in the most populous state/place in Nigeria with more than 90% muslims, and the results has shown a relatively low levels results in all the variables of the study.The study recommends aggressive marketing strategy for the Banks operating within the sector.

Keywords: Islamic Banking Products, Islamic Financial Products, academicians, Islamic finance industry, perception, awareness and attitude

Procedia PDF Downloads 402

Authors: Trisiladi Supriyanto

Abstract:

This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

Procedia PDF Downloads 285

Authors: Maulana Ayoub Ali, Pradeep Kulshrestha

Abstract:

Laws of any given secular state have a huge contribution in the growth of the Islamic banking system because the system uses conventional laws to govern its activities. Therefore, the former should be ready to accommodate the latter in order to make the Islamic banking system work properly without affecting the current conventional banking system and therefore without affecting its system. Islamic financial rules have been practiced since the birth of Islam. Following the recent world economic challenges in the financial sector, a quick rebirth of the contemporary Islamic ethical banking system took place. The coming of the Islamic banking system is due to various reasons including but not limited to the failure of the interest based economy in solving financial problems around the globe. Therefore, the Islamic banking system has been adopted as an alternative banking system in order to recover the highly damaged global financial sector. But the Islamic banking system has been facing a number of challenges which hinder its smooth operation in different parts of the world. It has not been the aim of this paper to discuss other challenges rather than the legal ones, but the same was partly discussed when it was justified that it was proper to do so. Generally, there are so many things which have been discovered in the course of writing this paper. The most important part is the issue of the regulatory and supervisory framework for the Islamic banking system in Tanzania and in other nations is considered to be a crucial part for the development of the Islamic banking industry. This paper analyses what has been observed in the study on that area and recommends for necessary actions to be taken on board in a bid to make Islamic banking system reach its climax of serving the larger community by providing ethical, equitable, affordable, interest-free and society cantered banking system around the globe.

Keywords: Islamic banking, interest free banking, ethical banking, legal framework

Procedia PDF Downloads 121

Authors: Erika Takidah, Salina Kassim

Abstract:

Digital transformation has accelerated in the new millennium. It is reshaping the financial services industry from a traditional system to financial technology. Moreover, the number of financial inclusion rates in Indonesia is less than 60%. An innovative model needed to elucidate this national problem. On the other hand, the Islamic financial service industry and financial technology grow fast as a new aspire in economic development. An Islamic bank, takaful, Islamic microfinance, Islamic financial technology and Islamic social finance institution could collaborate to intensify the financial inclusion number in Indonesia. The primary motive of this paper is to examine the strategy of collaboration-based Islamic financial services to enhance financial inclusion in Indonesia, particularly facing the digital era. The fundamental findings for the main problems are the foundations and key ecosystems aspect involved in the development of collaboration-based Islamic financial services. By using the Interpretive Structural Model (ISM) approach, the core problems faced in the development of the models have lacked policy instruments guarding the collaboration-based Islamic financial services with fintech work process and availability of human resources for fintech. The core strategies or foundations that are needed in the framework of collaboration-based Islamic financial services are the ability to manage and analyze data in the big data era. For the aspects of the Ecosystem or actors involved in the development of this model, the important actor is government or regulator, educational institutions, and also existing industries (Islamic financial services). The outcome of the study designates that strategy collaboration of Islamic financial services institution supported by robust technology, a legal and regulatory commitment of the regulators and policymakers of the Islamic financial institutions, extensive public awareness of financial inclusion in Indonesia. The study limited itself to realize financial inclusion, particularly in Islamic finance development in Indonesia. The study will have an inference for the concerned professional bodies, regulators, policymakers, stakeholders, and practitioners of Islamic financial service institutions.

Keywords: collaboration, financial inclusion, Islamic financial services, Islamic fintech

Procedia PDF Downloads 106

Authors: Vilma Zydziunaite, Vaida Jurgile, Roman Balandiuk

Abstract:

The concept of teacher leadership is related to professionals who are capable to influence the organisational culture and behavior. The study aim was to gain the understanding of how teachers experience leadership through educational interactions with students in a classroom. The aim of the research is to identify how teachers experience leadership in their everyday professional life through educational interactions with students in a classroom. The lifeworld research was performed in the study. Twenty-four teachers participated in qualitative research. Data was collected via semi-structured interviews and analysed by using phenomenological analysis. Findings highlight that teacher leadership through educational interactions with students in a classroom is implemented through the following aspects: contributing, being authentic and demarcating, being influential, empowering, respecting, ensuring equality, contributing, being acknowledged, experiencing resentment, and being condemned.

Keywords: teacher leadership, school, student, lifeworld research, phenomenology, professional experience

Procedia PDF Downloads 62

Authors: Muhammad Ilham Agus Salim

Abstract:

The liberalization of Islamic thought is not only an impact on the views of Muslim community regarding worldview, but has touched the stage reconstruction of contemporary general science. It can be seen from the emergence of Western and Eastern intellectual movements that try to reconstruct contemporary science arguing that scientific culture is not currently able to deliver audiences to change the order of the better society. Such Islamic thought liberalization has a huge influence on the multidimensional crisis in various sectors such as the economic, culture, politic, ecology, and other sectors. Therefore, this paper examines the effects of the liberalization of contemporary Islamic thought towards on the development of modern science. The method used in this paper is based on textual study of Al -Qur'an, Hadith (prophetic tradition), and the history of contemporary Islamic thought and comparing it with the reality of the development of science today. So the influence of Islamic thought liberalization has created a crisis and stagnation of the development of scientific disciplines can be found.

Keywords: liberalization, science, Islam, al-Qur’an textual studies

Procedia PDF Downloads 373

Authors: C. V. Chen, Y. H. Jeng, S. J. Wang

Abstract:

Leadership is essential to enhancing followers’ psychological empowerment and has an effect on their willingness to take on extra-role behavior and aim for greater performance. Authentic leadership is confirmed to promote employees’ positive affect, psychological empowerment, well-being, and performance. Employees’ spontaneous undertaking of organizationally desired behaviors allows organizations’ gaining the edge in the fiercely competitive business environment. Apart from the contextual factor of leadership, individuals’ goal orientation is found to be highly related to his/her performance. To better understand the psychological process and potential moderation of personal goal orientation, this study investigates the effect of authentic leadership on employees’ task performance and organizational citizenship behavior by including psychological empowerment as the mediating factor and goal orientation as the moderating factor.

Keywords: authentic leadership, task performance, organizational citizenship behavior, goal orientation

Procedia PDF Downloads 767