Search results for: Islamic social finance

Authors: Muhammad Kashif

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The primary aim of this paper is to investigate the influence of financial technology (FinTech) on sustainable finance. The sample for this study spans from 2010 to 2021, encompassing data from 89 countries worldwide. The study employed two-stage least squares (2SLS) regression approach with the instrumental variables and validated the findings using a two-step system generalized method of moments (GMM). The findings indicate that fintech has a significant favorable impact on sustainable finance. While other factors such as institutional quality, socio-economic condition, and renewable energy have a significant and beneficial influence on the trajectory of sustainable finance, except globalization's impact is positive but insignificant. Furthermore, fintech is crucial in driving the transition toward a sustainable future characterized by a lower carbon economy. The study found that fintech has extensive application across various sectors of sustainable finance and has substantial potential to create long-term positive effects on sustainable finance. Fintech can integrate extensively with other technologies to facilitate diversified growth in sustainable finance. Additionally, this study highlights fintech-related trends and research opportunities in sustainable finance, showing how these can promote each other worldwide with important policy implications for countries looking to advance sustainable finance through technology.

Keywords: sustainable development goals (SDGs), financial technology (FinTech), genuine savings index (GSI), financial stability index, sustainable finance

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Authors: Mohammad Saber Eslamlou

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Morphology of Islamic cities has been extensively studied by researchers of Islamic cities and different theories could be found about it. In this regard, there exist much difference in method of analysis, classification, recognition, confrontation and comparative method of urban morphology. The present paper aims to examine the previous methods, approaches and insights and that how Dr. Giulia Annalinda Neglia dealt with the analysis of morphology of Islamic cities. Neglia is assistant professor in University of Bari, Italy (UNIBA) who has published numerous papers and books on Islamic cities. I introduce her works in the field of morphology of Islamic cities. And then, her thoughts, insights and research methodologies are presented and analyzed in critical perspective. This is a qualitative research on her written works, which have been classified in three major categories. The first category consists mainly of her works on morphology and physical shape of Islamic cities. The results of her works’ review suggest that she has used Moratoria typology in investigating morphology of Islamic cities. Moreover, overall structure of the cities under investigation is often described linear; however, she’s against to define a single framework for the recognition of morphology in Islamic cities. She states that ‘to understand the physical complexity and irregularities in Islamic cities, it is necessary to study the urban fabric by typology method, focusing on transformation processes of the buildings’ form and their surrounding open spaces’ and she believes that fabric of each region in the city follows from the principles of an specific period or urban pattern, in particular, Hellenistic and Roman structures. Furthermore, she believes that it is impossible to understand the morphology of a city without taking into account the obvious and hidden developments associated with it, because form of building and their surrounding open spaces are written history of the city.

Keywords: city, Islamic city, Giulia Annalinda Neglia, morphology

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Authors: Vamsi G.

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Majority of the modern-day structures have less aesthetical value with minimum requirements set by foreign tribes. Numerous elements of traditional architecture can be incorporated into modern designs using appropriate principles to improve and enhance the functionality, aesthetics, and usability of any space. This paper reviews the diminishing ancient values of the traditional Islamic architecture. By introducing them into the modern-day structures like commercial, residential and recreational spaces in at least the Islamic states, the functionality of those spaces can be improved. For this, aspects like space planning, aesthetics, scale, hierarchy, value, and patterns are to be experimented with modern day structures. Case studies of few ancient Islamic architectural marvels are done to elaborate the whole. A brief analysis of materials and execution strategies are also a part of this paper. The analysis is formulated and is ready to design or redesign spaces using traditional Islamic principles and Elements of design to improve the quality of the architecture of modern day structures by studying the ancient Islamic architectural theories. For this, sources from the history and evolution of this architecture have been studied. Also, elements and principles of design from case studies of various mosques, forts, tombs, and palaces have been tabulated. All this data accumulated, will help revive the elements decorated by ancient principles in functional and aesthetical ways. By this, one of the most astonishing architectural styles can be conserved, reinstalled into modern day buildings and remembered.

Keywords: ancient architecture, architectural history, Islamic architecture, principles and elements

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Authors: Galit Truman Zinman

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The 'Islamic State' (IS) is one of the most successful jihadist groups in the modern history. The 'Islamic State' strives to realize the idea of erasing the borders between Muslim countries and establishing a wide Islamic caliphate. The 'Islamic State' is based on religious unity and opposition to existing political order. In this paper, the main argument is that the 'Islamic State' is characterized by two significant tendencies of state-building: preservation and change. The methodology of this study is based on the process tracing method and the analysis of primary sources: decisions, announcements and speeches of religious leaders of the Islamic State, slogans, rituals and symbols, audio and video clips produced by the Al-Hayat Media Center, films distributed on YouTube, as well as the content analysis of Dabiq`s articles (IS official Journal) and nasheeds (jihadi songs). The major findings of this study indicate that in practice the 'Islamic State' uses the same socio-political functions typical to the modern state (preservation), but introduces a different religious-ideological content (change). On the one hand, there is a preservation of the principles of existing modern state. Even with the rejection of secularization, globalization, and nationalism, there is an establishment of typical modern nation-state patterns. It is still a state entity, which has an ideological infrastructure, territory, population, governance and a monopoly on the use of violence, security services, justice system, tax collection, etc. All these functions characterize the modern state, and despite the desire of the 'Islamic State' to create a new kind of state, it reminds patterns of the typical modern nation-state. As for the religious-ideological content of the new state, here we can see a tendency of great change. The 'Islamic State' aims to create an Islamic caliphate which would allow the establishment of religious law and order, under a big commitment to return civilization to a seventh-century environment. The 'Islamic State' favors the fight against Western culture and its liberal ideology. It supports the struggle for global jihad against the unbelievers. Today, despite the territorial 'contraction' and the undermining of the organization's governance in Iraq and Syria, the 'Islamic State' continues to maintain its brand among jihadist activists around the world.

Keywords: Islamic State, Islamic caliphate, modern nation-state, religious law and order

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Authors: Rukhsana Shaheen, Tahira Ifraq

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Interest based transactions led the advent of Islamic banking. In order to provide an alternative to Interest based banking, financial transactions found in classical books of fiqh were employed. Musharakah, Mudarabah, Murabahah Salam, Ijara, and some other modes were adopted. These modes were modified so that they can be adopted for banking and satisfy the needs of customers. Since the inception of Islamic banking, these modes are being used and with the passage of time, are being molded and experimented with to cater different kinds of customers and requirements. Human efforts cannot be errorless. These modes too bear legal defects which need an in-depth scrutiny and refinement. The aim of this paper is to dig the basis and rulings of these modes in classical books of fiqh and analyze its modification and adoption in Islamic banking and the legal defects that these modes are bearing. Paper will prove itself fruitful by providing remedies for the legal defects.

Keywords: financial instruments, legal defects, remedies, Islamic banking

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Authors: Barbora Chmelíková

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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: financial decision-making, financial literacy, personal finance, university students

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Authors: Syahruddin Sumardi Samindjaya, Indra Fajar Alamsyah, Junaidah Hashim

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Purpose: This study attempts to explore and presents a proposed recruitment model in Islamic university which aligned with holistic role. Design/methodology/approach: It is a conceptual paper in nature. In turn, this study is designed to utilize exploratory approach. Literature and document review that related to this topic are used as the methods to analyse the content found. Findings: Recruitment for any organization is fundamental to achieve its goal effectively. Staffing in universities is vital due to the important role of lecturers. Currently, Islamic universities still adopt the common process of recruitment for their academic staffs. Whereas, they have own characteristics which are embedded in their institutions. Furthermore, the FCWC (Foundation, Capability, Worldview and Commitment) model of recruitment proposes to suit the holistic character of Islamic university. Research limitation/implications: Further studies are required to empirically validate the concept through systematic investigations. Additionally, measuring this model by a designed means is appreciated. Practical implications: The model provides the map and alternative tool of recruitment for Islamic universities to determine the process of recruitment which can appropriate their institutions. In addition, it also allows stakeholders and policy makers to consider regarding Islamic values that should inculcate in the Islamic higher learning institutions. Originality/value: This study initiates a foundational contribution for an early sequence of research.

Keywords: academic staff, Islamic values, recruitment model, university

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Authors: Alimshan Faizulayev, Eralp Bektas, Abdul Ghafar Ismail, Bezhan Rustamov

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This paper performs empirical analysis on determinants of profitability in Islamic and Conventional Banks. The main focus of this study is to evaluate and measure of financial performance of Islamic banking firms operating in Egypt, Iran, Malaysia, Pakistan, Turkey, UAE in contrast to Conventional ones in those countries. To evaluate empirically performance of the banks, various financial ratios are employed. We measure performance in terms of liquidity, profitability, solvency, and efficiency. In this work, t-test, F-test, and OLS analysis are used to make hypothesis tests. Our findings reveal that there are similarities and differences in profitability determinants of Islamic and Conventional banking firms. The cost to revenue ratio has inverse relationship with profitability indicators in both banking systems. However, there are differences in financial performances between Conventional Banks and Islamic banks which are found in overall picture of all banks in terms of net income margin.

Keywords: Islamic banking, conventional banking, GDP growth, emerging market economies

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Authors: Hamid Mohamad Hosein Zadeh Hashemi

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In this article, in order to recognize the value of aesthetics of the place of wisdom and mysticism on Islamic art-architecture, and compare it with the influence of philosophy and thought on the "modern art of architecture" of the West, it examines the position of wisdom and philosophy in art Architecture ". In this regard, one can point out the unique status of "art of architecture" in human societies, which in two cultures of the East and West, based on the ideas of Islamic wisdom and Western thought, has taken a dual path, so that even today, even from the original And the basic "art of architecture" of its primary and academic has turned away and has undergone some kind of transformation. To this end, we examine some of the "aesthetics" positions based on the "art of architecture" in the broad sense of the word, in order to reflect on the historical course of this art, and with regard to the position of Islamic thought and Western thought, each of which originated from, but based on The basis of cultures, climate, and sociology, and others, are ultimately the result of an arbitrary result, namely the achievement of the aesthetic position of wisdom and mysticism on the "Islamic-Iranian" architecture of art "and its opposition to the position of philosophy and thought On modern art of modern architecture of the West.

Keywords: aesthetics, art, philosophy, the art of Architecture, wisdom

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Authors: Nawaf Alyaseen

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This paper provides a comparative analysis of the Islamic and Western public policy and morality principles governing trademarks. The aim of this paper is to explore public policy and morality principles that affect trademark registration and protection under Shari'a by using Kuwaiti law as a case study. The findings provide a better understanding of trademark recognition from the perspective of Shari'a and the requirements demanded by Islamic Shari'a, especially of those who deal with strict Shari'a jurisdiction countries. In addition, this understanding is required for corporations or legislators that wish to take into consideration Muslim consumers. The conclusion suggests that trademarks in Western and Islamic systems are controlled by a number of public policy and morality rules that have a direct effect on the registration and protection of trademarks. Regardless of the fact that there are many commonalities between the two systems, there are still fundamental differences.

Keywords: trademark, public policy and morality, Islamic sharia, western legal systems

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Authors: Mennani Maha, Attak El Houssain

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Under the massive effect of the Covid-19 health crisis, marked by a loss of competitiveness, a slowdown in growth and an accumulation of the repercussions of socio-economic inequalities, a considerable effort must be combined, in Morocco, to put into perspective macro-political, macro-economic and social opportunities. The development of a new economic and social approach is essential in order to respond to the authenticity of the new development model that will be used by the country. The appropriation of strategies of solidarity and social cohesion constitutes a participatory, competitive and inclusive approach to support the functionalities of the economic, social and political system. Therefore, the search for alternative financial resources has become a necessity to achieve the objectives of sustainable socio-economic growth on the one hand; and to promote, on the other hands, the dynamics, of large scale, social investments. The zakat remains a site of the Islamic economy dedicated to stimulating the bases of a collective adhesion of the population on the economic, as well as on the social level, thanks to a fair and equitable distribution of the zakat funds. However, Morocco is one of the few Muslim countries that has not yet had an institution for collecting and distributing this Islamic duty, which makes it difficult to measure the socio-economic impact of zakat. This theoretical document essentially ensures the development of the crucial utility of institutionalizing zakat in order to reinforce the objectives of social solidarity in Morocco in line with the process of conceptualizing a new development model.

Keywords: zakat, socio-economic development, solidarity, social investment

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Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

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Authors: Nargess Fasihmardanloo

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The aim of this study was to comparatively study the motivations of women to physical activity in Iran and selected Arab countries Based on individual, social and Islamic components. The present study was a descriptive comparative study that was performed by field method. The statistical population of the study included female athletes in Iran and Arab countries. A total of 184 people from Iran and 179 people from Arab countries (Iraq, UAE, and Jordan) were selected through available sampling as a research sample. The research tool included a questionnaire. The validity of the questionnaire was confirmed and its reliability in a pilot study was 0.95 through Cronbach's alpha. The questionnaire was translated into Persian in Iran and translated into Arabic for the selected countries and was provided to the participants electronically and through cyberspace. Finally, 363 questionnaires were collected. Manova multivariate analysis of variance using spss22 software was used to analyze the data. Findings showed that between Iranian women athletes and women athletes in selected Arab countries in the components of intrapersonal motivation (p = 0.009 and f = 6.978), interpersonal motivation (p = 0.050 and f = 3.875), There is a significant difference between social motives (p = 0.001 and f = 27.619) and Islamic motives (p = 0.001 and f = 11.339). And this difference is significant at the level of p <0.01 and p <0.05. In other words, in the component of intrapersonal motivations, the average of this component in Iranian female athletes (M = 59.77) was higher than female athletes in selected Arab countries (M = 55.53). In the interpersonal motivations component, the average of this component in Iranian female athletes (M = 26.87) was lower than in female athletes in selected Arab countries (M = 28.62). In the component of social motivations, the average of this component in Iranian female athletes (M = 33.08) was lower than female athletes in selected Arab countries (M = 39.64). In the component of Islamic motives, the average of this component in Iranian female athletes (M = 21.55) was higher than female athletes in selected Arab countries (M = 19.04).

Keywords: athletes, motivation, women, Islamic

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

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The research aimed to know the influence of Capital Adequacy Ratio (CAR), Return on Assets (ROA) and Size of the Financing to Deposit Ratio (FDR) Islamic Banks in Malaysia by using eleven Islamic Banks in Indonesia and fifteen Islamic Banks in Malaysia in the period 2012 to 2016 as samples. The research used a quantitative approach method, and the analysis technique used multiple linear regression. Based on the result of t-test (partial), CAR, ROA and size significantly affect of FDR. While the results of f-test (simultaneous) showed that CAR, ROA and Size significant effect on FDR.

Keywords: capital adequacy ratio, financing to deposit ratio, return on assets, size

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Authors: Ziyad Motala

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It is often proclaimed by leasers in Muslim majority countries that Islamic Law does not permit dissent against a ruler. This paper will evaluate and discuss freedom of speech and dissent as found in concrete prophetic examples during the time of the Prophet Muhammad. It will further look at the examples and practices during the time of the four Noble Caliphs, the immediate successors to the Prophet Muhammad. It will argue that the positivist position of absolute obedience to a ruler is inconsistent with the prophetic tradition. The examples of the Prophet and his immediate four successors (whose lessons Sunni Islam considers to be a source of Islamic Law) demonstrates among the earliest example of freedom of speech and dissent in human history. That tradition frowned upon an inert and uninvolved citizenry. It will conclude with lessons for modern day Muslim majority countries arguing with empirical evidence that freedom of speech, dissent and the right to be governed by consensus versus coercion are fundamental requisites of Islamic law.

Keywords: islamic law, demoracy, freedom of speech, right to dissent

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Authors: Hakam Junus, Natassha Chrysanti

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

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

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Authors: Osama Shibani

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Corporate governance effective is critical to the proper functioning of the banking sector and the economy as a whole, the Basel Committee have issued principles of corporate governance inspired from Organisation for Economic Co-operation and Development (OECD), but there is no single model of corporate governance that can work well in every country; each country, or even each organization should develop its own model that can cater for its specific needs and objectives, the corporate governance in Islamic Institutions is unique and offers a particular structure and guided by a control body which is Shariah supervisory Board (SSB), for this reason Islamic Financial Services Board in Malaysia (IFSB) has amended BCBS corporate governance principles commensurate with Islamic financial Institutions to suit the nature of the work of Islamic institutions, this paper highlight these amended by using comparative analysis method in context of the differences of corporate governance structure of Islamic banks and conventional banks. We find few different between principles (Principle 1: The Board's overall responsibilities, Principles 3: Board’s own structure and practices, Principles 9: Compliance, Principle 10: Internal audit, Principle 12: Disclosure and transparency) and there are similarities between principles (Principle 2: Board qualifications and composition, Principles 4: Senior Management (composition and tasks), Principle 6: Risk Management and Principle 8: Risk communication). Finally, we found that corporate governance principles issued by Islamic Financial Services Board (IFSB) are complemented to CG principles of Basel Committee on Banking Supervision (BCBS) with some modifications to suit the composition of Islamic banks, there are deficiencies in the interest of the Basel Committee to Islamic banks.

Keywords: basel committee (BCBS), corporate governance principles, Islamic financial services board (IFSB), agency theory

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Authors: Olga Bernikova, Oleg Redkin

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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: Qamar Ul Haq, Talat Hussain, Mufti Fahad Ahmed Qureshi

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From the Islamic perspective, managing human resource meets various challenges, especially in the modern organizations. The adoption of Western practices in various aspects of management have caused gaps in justice, trustworthy, responsibility and other values of workers in Muslim countries. Thus, the interference of Islamic principles in human resource management (HRM) can be considered as a great solution for treating employees fairly and justly. This research aims to examine the level of Islamic practices in HRM, in which includes recruitment and selection, training and development, career development, performance management and rewards. The paper will analyze the relationships between HRM practices and organizational justice which focus on three elements, which are distributive justice, procedure justice and interactional justice. The data will be collected from selected Malaysian Government-Linked Company (GLC). Convenience sampling will be used to select the respondents for completing questionnaires. This conceptual paper essentially provides organizations with effective ways of understanding and implementing HRM by using Islamic principles. It also can be used as guidance for decision-making and day-today HR activities and will help organization to face uncertainties in the business world as well.

Keywords: human resource management, organizational justice, Islam, Islamic banking

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Authors: Saroj Kumar Rath

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India's Muslims represent 15 percent of the nation's population, the world's third largest group in any nation after Indonesia and Pakistan. Extremist groups like the Islamic State, Al Qaeda, the Taliban and the Haqqani network increasingly view India as a target. Several trends explain the rise: Terrorism threats in South Asia are linked and mobile - if one source is batted down, jihadists relocate to find another Islamic cause. As NATO withdraws from Afghanistan, some jihadists will eye India. Pakistan regards India as a top enemy and some officials even encourage terrorists to target areas like Kashmir or Mumbai. Meanwhile, a stream of Wahhabi preachers have visited India, offering hard-line messages; extremist groups like Al Qaeda and the Islamic State compete for influence, and militants even pay jihadists. Muslims as a minority population in India could offer fertile ground for the extremist recruiters. This paper argues that there is an urgent need for the Indian government to profile militants and examine social media sites to attack Wahhabi indoctrination while supporting education and entrepreneurship for all of India's citizens.

Keywords: Al Qaeda, terrorism, Islamic state, India, haqqani network, Pakistan, Taliban

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Authors: Sheba Akhtar

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The profound importance that Islam places on knowledge has directly influenced the architectural development of the mosque throughout the Muslim world. The masjid is the most important religious building type in Islamic society because, as a place of worship and social interaction, it is the center of both spiritual knowledge and secular guidance. The Quran begins with the emphatic injunction, “Iqra”, establishing the central importance of the pursuit of the sacred ilm that is offered to man by Allah. Similarly, numerous hadiths of the Prophet Muhammad emphasize the profound importance of the acquisition and dissemination of knowledge, both spiritual and temporal. The Muslim worshipper must enter the sacred space of the masjid to receive spiritual knowledge, but the transition from the profane realm outside the mosque to that of spirituality within is not merely physical; it is also deeply psychological and emotional. To this end, the architecture of the masjid, from the plan and geometry to the design elements and intricate ornamental details, plays a vital role in creating the environment within which the ritual acts of wudu and salat are enacted to foster the transformative journey, from the mundane reality of this world to the realm of spirituality beyond, in the heart, mind, and soul of the worshipper. It is expected that the paper will provide a better understanding of the ways in which sacred Islamic knowledge has influenced the architectural design of the mosque. The research will draw upon Islamic epistemology, Islamic architecture history, and compositional analysis to demonstrate this philosophical, historical, and formal relationship. In this way, the paper will provide a meaningful bridge between the existing knowledge related to mosque design and the expanding academic discourse about the religious architecture of Islam.

Keywords: Islamic architecture, mosque architecture, religious architecture, sacred architecture

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Authors: Mohamed Almagsoudi

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The aim of this paper is to deal with two issues. One of them is about the theoretical side of codification, and the other is related to the practical side. At first, I have tried to criticize the debate running about codification of Islamic and Saudi Law, through observing and analyzing views of opponents and advocates. I tried to prove a hypothesis that both parties could not completely succeed in reviewing the theoretical base of this topic where discussion would not deal with irrelevant matters. It is a crucial shortcoming that made advocates unable to answer the critical questions addressed by those opponents.

Keywords: Codification, Saudi Law, Islamic law, Sharia

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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: Alireza Tavakoli Nia

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In order to understand the role of the injured party's fault in dividing liability, we studied its historical background. In common law, the traditional contributory negligence rule was a complete defense. Then the legislature and judicial procedure modified that rule to one of apportionment. In Islamic law, too, the Action rule was at first used when the injured party was the sole cause, but jurists expanded the scope of this rule, so this rule was used in cases where both the injured party's fault and that of the other party are involved. There are some popular approaches for apportionment of damages. Some common law countries like Britain had chosen ‘the causal potency approach’ and ‘fixed apportionment’. Islamic countries like Iran have chosen both ‘the relative blameworthiness’ and ‘equal apportionment’ approaches. The article concludes that both common law and Islamic law believe in the division of responsibility between a wrongdoer claimant and the defendant. In contrast, in the apportionment of responsibility, Islamic law mostly believes in equal apportionment that is way easier and saves time and money, but common law legal systems have chosen the causal potency approach, which is more complicated than the rival approach but is fairer.

Keywords: contributory negligence, tort law, damage apportionment, common law, Islamic law

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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: Abul Hassan

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Present socio-economic context and women wellbeing in Bangladesh imposes lots of constraints on women’s involvement in income generating activities. Different studies showed that the implementation of World Bank structural adjustment policies have had mixed impacts on women and their wellbeing. By involving poor people specially women in Islamic microfinance programmes in Bangladesh are used as a tool to combat poverty. Women are specifically targeted by Islamic microfinance under the rural development scheme of Islami Bank Bangladesh that provide interest free loan to the women groups. The programme has a multiplier effect since women invest largely in their households. The aim of this research is twofold: firstly, it wanted to confirm or refute a positive link between Islamic microfinance and the socio-economic wellbeing of women in Bangladesh and secondly, to explore the context in which Islamic microfinance programs function in Bangladesh and the way their performance can be improved. Based on structured questionnaires’ survey, this study addressed two research questions: (1) What can be expected from the offer of Islamic microfinance on the welfare of recipients and (2) Under what conditions would such an offer be more beneficial. The main result of this study shows that increase in women’s income and assets played a very important role in enhancing women’s economic independence and sense of self-confidence. An important policy recommendation is that it is necessary to redirect Islamic microfinance towards diversified developmental activities that will contribute to the improvement, in the long run, of the wellbeing of the recipients.

Keywords: business model, Islamic microfinance, women’s wellbeing

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Authors: Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum, Imron Mawardi, Achsania Hendratmi

Abstract:

Murabaha is the most popular contract by the Islamic banks in Indonesia, since there is opinion stating that the risk level of mudharaba and musyaraka are higher and the return is uncertain. This research aims to analyze the difference of return, risk, and variation coefficient between profit sharing-based and trading-based financing in Islamic bank. This research uses quantitative approach using Wilcoxon signed rank test with data sampled from 13 Indonesian Islamic banks, collected from their quarterly financial reports from 2011 to 2015. The result shows the significant difference in return, while risk and variation coefficient are almost same. From the analysis, it can be concluded that profit sharing-based financing is less desirable not because of its risk. Trading-based financing is more desirable than the profit sharing because of its return.

Keywords: financing, Islamic bank, return, risk

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Authors: Mehdi Beyad

Abstract:

Muhammad Abduh stands as a founding thinker of Islamic revivalism and modernism, the political phenomenon which began with him and Jamal al-Din al-Afghani in the 19th century which sought to address the perceived regression of Islamic societies in the face of western colonialism and the onslaught of modernity. The scholarship on Abduh and al-Afghani, and Islamic modernism in general, is vast. This paper, however, provides a critical approach to some of this scholarship and attempts to re-think the epistemic framework of Abduh's political thought and the place of Islam therein. Much of the current work on Abduh falls into the trap of seeing his task as one of "compromising" Islam for the values of European modernity. This paper argues that for Abduh, Islam was not just a compartmentalised theological framework: it was at the nexus of societal emancipation, intellectual and cultural rejuvenation, and political progress. Far from “modernising” and diluting Islam to the extent that it became irrelevant in the face of rationality as defined by European modernity, Islam remained central to Abduh’s political framework.

Keywords: Islamic political thought, Islamic revivalism, modernism, Muhammad Abduh, epistemology

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Authors: Zahra Yaghoubi

Abstract:

One of the initial occurrences that, according to observations of those who have temporarily experienced death, arises is encountering beings or individuals possessing supernatural powers. For some, these beings are described as beautiful and radiant, while for others, they are portrayed as dark and terrifying. In some experiences, they are mentioned as young and beautiful individuals. Islamic religious sources refer to these beings as angels or celestial beings assigned by God to take and collect human souls. This research, conducted through library methods, examines and justifies the initial stage of observations from an Islamic perspective based on first and second-hand religious sources. It relies on evidence, observations, and oral narratives of near-death experiencers, as well as interviews published in television programs. The goal is to investigate Islamic sources and validate the presence of angels in near-death experiences. The use of visual interview reports direct reliance on the narrative rather than the written text by someone other than the experiencer, is among the main criteria for enhancing transparency and authenticity in conveying the individual's experiences.

Keywords: angel, angels of death, Islamic sources, near-death experiences, death, soul

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Authors: Muhammad Ilham Agus Salim, Saufa Ata Taqiyya

Abstract:

In many Muslim countries, secularization has successfully reduced the role of Islamic law as a formal legal source during this last century. The most obvious fact was the reform of Daulah Utsmaniyah to be Secular Republic of Turkey. Religion is strictly separated from the state authorities in many countries today. But these last decades in Indonesia, a remarkable fact is apparent. Islamic law has expanded its role in Indonesian legal system, especially in districts regulations. In Aceh province, as a case in point, shariah has been the basic source of law in all regulations. There are more provinces in Indonesia which adopted Islamic law as a formal legal source by the end of 2014. Different from some other countries which clearly stipulates the status of Islam in formal ways, Indonesian constitution formally does not render any recognition for Islam to be the formal religion of the state. But in this Muslim majority country, Islamic law takes a place in democratic way, namely on the basis of the voice of majority. This paper will analyze how this reality increases significantly since what so called by Indonesian reformation era (end of nineties). Some causes will be identified regarding this tendency of expansion of role. Some lessons learned also will be recommended as the concluding remarks by the end of the paper.

Keywords: Islamic law, Indonesia, legal reform, Syariah local regulation

Procedia PDF Downloads 324