Search results for: Islamic spiritual intelligence

Authors: Lipeng Zhang, Limei Li, Yanming Pearl Zhang

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This paper takes a philosophical view as axiom, and reveals the relationship between information theory and Natural Intelligence and Artificial Intelligence under real world conditions. This paper also derives the relationship between natural intelligence and nature. According to communication principle of information theory, Natural Intelligence can be divided into real part and virtual part. Based on information theory principle that Information does not increase, the restriction mechanism of Natural Intelligence creativity is conducted. The restriction mechanism of creativity reveals the limit of natural intelligence and artificial intelligence. The paper provides a new angle to observe natural intelligence and artificial intelligence.

Keywords: natural intelligence, artificial intelligence, creativity, information theory, restriction of creativity

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Authors: Muhammad Jumat Dasuki

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The curbing of excesses of women in politics is a topic that has been extensively studied in the field of Islamic law. This issue is complex and involves various cultural and religious factors, making it a highly debated topic. This paper examines the role of Islamic law in regulating the behavior of women in politics. In many Islamic societies, women face restrictions and limitations when it comes to their participation in the political sphere. This paper investigates the reasons behind these restrictions and analyzes how Islamic law can be used to curb any excesses that may arise from women's involvement in politics. By examining various case studies and analyzing the principles of Islamic law, this paper sheds light on the issue of women's participation in politics and provides potential solutions for balancing their rights and duties according to Islamic law. The methodology includes primary sources through in-depth oral interviews and secondary sources like textbooks and journals, aiming for a holistic understanding of the ethical dimensions of support initiatives within the context of Islamic Law to establish the fairness of Islam Law in its approach to women in politics. The paper concludes with suggestions and recommendations.

Keywords: excess, Islamic law, principles, women

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Authors: Khalid Hassan Abdesamed, Kalsom Abd Wahab

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Economic development and growth are significantly linked to the consistent and sustainable sector of small and medium enterprises (SMEs). Banks are the frontrunners in financing and advising SMEs. The main objective of the study is to assess the tendency of SMEs to use the Islamic bank. Model was developed using quantitative method with a hypothetical-deductive testing approach. Model (N = 364) used primary data on the tendency of SMEs to use Islamic banks gathered from questionnaire. It is found by Mann-Whitney test that the tendency to use Islamic bank varies between those firms which consider formal financing with the ones relying on informal financing with the latter tends more to use Islamic bank. This study can serve academic researchers, policy makers, and developing countries as a model of SMEs’ desirability to Islamic banking.

Keywords: formal financing, informal financing, Islamic bank, SMEs

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Authors: Nada Hamed, Mariam Aldhaheri, Sonia Abdennadher

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Islamic Finance is not a new term that emerging in the global market, but it is still under scope by many countries. Its characteristics and regulation are not widely clear and implemented. In 2015, The United Nation announced a plan about potential benefits of using Islamic Finance as a sustainable development approach. Enhancing its application in financial markets could protect from unexpected crisis that might be created from the traditional tools of finance. This paper focuses on this area to test if Islamic finance could be used for maintaining sustainable development and if the term of 'Green Islamic Finance' could be implemented to minimize the deficiencies and 'pollution’ generated from traditional techniques and tools of finance. This paper intends to measure the impact on financial performance and sustainability when financial institutions use Islamic finance or better practice it. The objective of this explanatory research is to measure the performance of Islamic Finance with using a case study of an Islamic bank. The paper would analyze and compare the behavior of financial institutions that used traditional financing tools and converted to Islamic banking system. The methodology used is based on a case study of an Islamic bank in Dubai with comparing its performance before implementing Islamic Finance and after. The selected case study represents the first national bank in Emirates Arab Unis who adopt the Islamic finance approach. Based on a time series analysis, a quantitative analysis would be also used through looking at various set of ratios that are routinely used to measure bank performance.

Keywords: Islamic finance, financial stability, green finance, Islamic finance practices, financial ratios

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Authors: Muhammad Taimoor Hassan, Kausar Abbas

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The Islamic Banking Services is one of the growing businesses in financial sector around the globe with 15 to 18 percent growth all over the world and 10-12 percent growth rate in Pakistan. This research study is aimed at measuring the impact of religiosity on the customer loyalty of Islamic Banking in Pakistan. The study has utilized cause and effect research design to assess the impact of religiosity on Islamic Banking. Data from 350 respondents have been collected to meet the purpose of the study. The results revealed that the religiosity has a significant impact on the customer loyalty of Islamic Banking through the customer attitude and customer trust on the sequential model. The results suggest that the religiosity, customer attitude, and customer trust are the interconnected variables which lead to customer loyalty in Islamic Banking of Pakistan. The study is useful in the setting of Pakistan to further increase the customer loyalty for Islamic Banks.

Keywords: Islamic banks, customer loyalty, attitude, Pakistan

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Authors: John Goodhue, Xiaonan Wei

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Current legal decisions and policies regarding the naming as artificial intelligence as inventor are reviewed with emphasis on the recent decisions by the European Patent Office regarding the DABUS inventions holding that an artificial intelligence machine cannot be an inventor. Next, a set of hypotheticals is introduced and examined to better understand how artificial intelligence might be used to create or assist in creating new inventions and how application of existing or proposed changes in the law would affect the ability to protect these inventions including due to restrictions on artificial intelligence for being named as inventors, ownership of inventions made by artificial intelligence, and the effects on legal standards for inventiveness or obviousness.

Keywords: Artificial intelligence, innovation, invention, patent

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Authors: Siti Napsiyah, Ismet Firdaus, Lisma Dyawati Fuaida, Ellies Sukmawati

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This paper examines the existence, role, and challenge of Family Service Agency, in Bahasa Indonesia known as Lembaga Konsultasi Kesejahteraan Keluarga (LK3) of Syarif Hidayatullah State Islamic University (UIN) Jakarta. It has been established since 2012. It is an official agency under the Ministry of Social Affairs of Indonesia. The establishment of LK3 aims to provide psychosocial services for families of students who has psychosocial problem in their life. The study also aims to explore the trend of psychosocial problems of its client (student) for the past three years (2014-2016). The research method of the study is using a qualitative social work research method. A review of selected data of the client of LK3 UIN Syarif Hidayatullah Jakarta around five main issues: Family background, psychosocial mapping, potential resources, student coping mechanism strategy, client strength and network. The study also uses a review of academic performance report as well as an interview and observation. The findings show that the trend of psychosocial problems of the client of LK3 UIN Syarif Hidayatullah Jakarta vary as follow: bad academic performance, low income family, broken home, domestic violence, disability, mental disorder, sexual abuse, and the like. LK3 UIN Syarif Hidayatullah Jakarta has significant roles to provide psychosocial support and services for the survival of the students to deal with their psychosocial problems. Social worker of LK3 performs indigenous social work practice: individual counseling, family counseling, group therapy, home visit, case conference, Islamic Spiritual Approach, and Spiritual Emotional Freedom Technique (SEPT).

Keywords: psychosocial, indigenizing social work, resiliency, coping mechanism

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Authors: Seyyedeh Mahdis Mousavi, Masoud Maghsoudi, Zahra Vahed

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The purpose of this paper is to examine the relationship between emotional intelligence as conceptualized in Goleman’s competency model, and decision making styles in levels of management. To conduct this study, different level managers in Iran Broadcasting Organization completed a questionnaire on emotional intelligence and decision making styles. Researcher used descriptive and inferential statistics to describe data and analyze the two variables relationship in managers of three levels. Results revealed significant relationships for rational, dependent, avoidant, and spontaneous styles. No significant relationship was found for intuitive style. Yet the results indicate that avoidant style has negative relation to EI. Furthermore, EI has direct and strong relation to rational style.

Keywords: emotional intelligence (EI), decision making styles, Islamic Republic of Iran Broadcasting (IRIB), Iranian manager

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Authors: Esra Alhamal

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Islamic architecture is known for the ornamental patterns that cover the architectural surfaces: floors, walls, and ceilings. This quality in Islamic buildings has long impressed other civilisation, and it is a visual language that exists across the Islamic lands. Ornamentation is divided into three types: geometry, biomorphs, and Arabic calligraphy. The focus of this study is the biomorphic ornaments. This paper will aim to define and characterise biomorphic patterns and trace their development from the 7th to the 18th centuries. Although the time period is seemingly long, the biomorphic patterns and their motifs have been consistent and supported by a geometric system underlying the free flowing, symmetrical motifs. The methodology of this paper consists of analysing and comparing biomorphic patterns from each Islamic period using rules of geometry and symmetry. The study is concluded with a table showcasing the main motifs and how they developed under each Islamic dynasty. This research is a documentation of the biomorphic language and having this record will help contemporary designers employ biomorphic ornaments thoughtfully.

Keywords: architectural surface, biomorphic patterns, Islamic patterns, Islamic ornamentation

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Authors: Ercan Yilmaz, Ali Murat Sünbül

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The aim of the study is to investigate teachers’ self-efficacy with regards to their emotional intelligence. The relational model was used in the study. The participant of the study included 194 teachers from secondary schools in Konya, Turkey. In order to assess teachers’ emotional intelligence, “Trait Emotional Intelligence Questionnaire-short Form was implemented. For teachers’ self-efficacy, “Teachers’ Sense of Self-Efficacy Scale” was used. As a result of the study, a significant relationship is available between teachers’ sense of self-efficacy and their emotional intelligence. Teachers’ emotional intelligence enucleates approximate eighteen percent of the variable in dimension named teachers’ self-efficacy for the students’ involvement. About nineteen percent of the variable in dimension “self-efficacy for teaching strategies is represented through emotional intelligence. Teachers’ emotional intelligence demonstrates about seventeen percent of variable aimed at classroom management.

Keywords: teachers, self-efficacy, emotional intelligence, education

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Authors: Umar Sheikh Tahir

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Before al-Ghazālī, Islamic scholars perceived logic as an intrusive knowledge. The knowledge therefore, did not receive ample attention among scholars on how it should be adapted into Islamic sciences. General scholarship in that period rejects logic as an instrumental knowledge. This attitude became unquestionable to the scholars from different perspectives with diversification of suggestions in the pre-al-Ghazālī’s period. However, al-Ghazālī proclaimed with new perspective that transform Logic from ‘intrusive knowledge’ to a useful tool for Islamic sciences. This study explores the contributions of al-Ghazālī to epistemology regarding the use and the relevance of Logic. The study applies qualitative research methodology dealing strictly with secondary data from medieval age and contemporary sources. The study concludes that al-Ghazālī’s contributions which supported the transformation of Logic to useful tool in the Muslim world were drawn from his experience within Islamic tradition. He succeeded in reconciling Islamic tradition with the wisdom of Greek sciences.

Keywords: Al-Ghazālī, classical logic, epistemology, Islamdom and Islamic sciences

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Authors: Muhammad Ali Khan

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Although most Muslims are aware that Riba is a great sin in Islamic Shariah, they still do not find themselves inclined toward Islamic banking for their financial needs/activities/requirements. The main purpose of this research work is to analyse the general trend of people's views and miss conceptions among them regarding Islamic Banking and therefore suggest promoting Islamic banking. Scholars believe that Islamic finance is more stable than conventional banking because of the nature of its banking practices, which are based on real assets or partnerships. This is why Islamic banking is growing fastly worldwide, particularly in the wake of global financial crisis. Even though the scope of Islamic banking is expanding on a daily basis yet, it is not gaining the popularity it deserves. Islam declares war against Allah and his last messenger Hazrat Muhammad (PBUM) as it is a great sin and strictly forbids all interest-based transactions. Holy Quran revealed, O you who believe, do not eat up the amounts acquired through Riba (interest), doubled and multiplied. Fear Allah, so that you may be successful. Therefore a, true Muslim who believe in Judgement day always make all efforts in their life to avoid gambling and other speculative activities like Riba for themselves and their loved ones. If a Muslim does not fight against Riba to protect himself and his family, then his faith is meaningless. Allah issues warnings at numerous places in the holy Quran regarding Riba and its sin. Thus, Islamic banking is an alternative banking system where banking transactions are based on Islamic principles. The major component of Islamic Banking is Profit and loss sharing (PLS), as well as ensuring economic justice and equity.

Keywords: Islamic banking, Riba, interest, financial crises

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Authors: Rahmoune Abdelhaq

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Systemic Islamic banking has been in practice for long but started receiving due attention and high popularity since last decade. It has received a warm welcome from all over the world and these banks operating on Islamic principles have been able to get a sizeable business not only in Islamic countries but in non-Islamic countries too. Despite exemplary advancements and achievements, there remains number of controversies over various underlying concepts and practices. This paper basically explores and highlights all those controversies and challenges which are in minds of different school of thoughts and are needed to be addressed and overcome if Islamic banking continues flourishing the way it is at present. The authors have also tried to suggest suitable remedies to overcome these challenges where appropriate. As well, This paper makes an attempt to review major principles surrounding the working of Islamic banking and its historical growth. A brief overview of main differences between the Islamic banking and the conventional banking. In addition, references are particularly made to implications arising from the emergence of e-commerce and the realities that the Islamic Shari’ah law has to consider in adopting the new phenomenon into its banking system. This paper shows, whilst the conventional banking and financial system is based on the principle of rationality and interest, the Islamic financial system is based on morality and social justice which prohibits interest as a means of speculation and injustice. The concepts of e-business such as e-commerce and e-banking are acceptable in Islam as since in Islam anything is halal unless prohibited by Shari’ah, dealing with business by internet is considered as Shari’ah compliant. This paper, therefore, provides the latest thinking of e-business from an Islamic viewpoint, thus creating a reference point and valued information for a future research.

Keywords: Islamic Finance, principles of Islamic banking, Islamic commerce, Shari’ah compliant

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Authors: Md. Abdul Kader, Md. Akiz Uddin

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The Islamic banking system is based on the Islamic shariah principles. Islamic banking is set up to avoid riba (interest)--which is prohibited in Islam-- and to prevent unscrupulous practices and participate actively in achieving the welfare-oriented Islamic economy. In the process of offering Islamic banking services, practitioners have been facing several challenges. Out of many challenges, this paper particularly highlights the need for a centralized legal framework for Islamic banks that should be compliant with the shariah law. The researchers employed a qualitative method to collect case studies from high-profile Islamic Bankers and analyzed respective legal documents and policy papers to conduct the study. This study investigates the Shariah Governance Framework (SGF), amended Banking Companies Act, 1991 (Act No. 14 of 1991), and the Shariah Supervisory Board (SSB) of Islamic banks in Bangladesh to evaluate how legal framework supervise and/or monitor Islamic banking system under the jurisdiction of shariah law. The study reveals that the Shariah governance system in Bangladesh is mainly voluntary rather than regulatory, and there is an absence of full-fledged SGF. Though there is no complete Islamic Banking Act for controlling, guiding, and supervising the Islamic banks in Bangladesh, some Islamic banking provisions have already been incorporated in the amended Banking Companies Act, 1991 (Act No. 14 of 1991). Bangladesh Bank did not set up any separate Department at its Head Office to control, guide and supervise the operation of the Islamic banks. So, ensuring the implementation of Shariah principles concurrent with the legal framework of banking policies is recommended in this study. This study also prescribes that the government should enact a law or policy for the operations of Islamic banks in order to improve the Islamic Banking system of Bangladesh. In addition, the central bank can set up a Central Shariah Supervisory Board (CSSB) or authorize the existing Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) to supervise and monitor overall activities of Islamic banks and resolve the disputes among the stakeholders concerning the Shariah issues of Islamic banks.

Keywords: islamic banking, shariah law, banking policies, shariah governance framework (SGF)

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Authors: Maulana Ayoub Ali

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Malayan Pilgrims Savings Corporation was introduced in 1963. Six years later, Malaysian Pilgrims Fund Board (Tabung Haji) was formed. The board used to collect funds from pilgrims who expected to perform pilgrimage in the future dates. Money was collected and kept as per given rules and procedures emanated from Islamic sources of law. Twenty years later, the country was ready to run a fully fledged Islamic bank where the Bank Islam Malaysia Berhad (BIMB) came into existence in the year 1983. This paper investigates stages of development of Islamic banking system in Malaysia from 1983 to date. This study discovered that Malaysia had enough time to make Islamic banking system works alongside conventional banking system and for sure, has successfully managed to come up with the comprehensive and workable financial system which accommodates both the conventional and Islamic banking. As a result, Malaysia stands to be the hub of Islamic banking products and services in the world today.

Keywords: Tabung Haji, Islamic Banks, conventional law, Malaysia

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Authors: Ahmed Sameer El Khatib

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The aim of the present paper is to examine the revenue efficiency of the Indonesian Islamic banking sector. The study also seeks to investigate the potential internal (bank specific) and external (macroeconomic) determinants that influence the revenue efficiency of Indonesian domestic Islamic banks. We employ the whole gamut of domestic and foreign Islamic banks operating in the Indonesian Islamic banking sector during the period of 2009 to 2018. The level of revenue efficiency is computed by using the Data Envelopment Analysis (DEA) method. Furthermore, we employ a panel regression analysis framework based on the Ordinary Least Square (OLS) method to examine the potential determinants of revenue efficiency. The results indicate that the level of revenue efficiency of Indonesian domestic Islamic banks is lower compared to their foreign Islamic bank counterparts. We find that bank market power, liquidity, and management quality significantly influence the improvement in revenue efficiency of the Indonesian domestic Islamic banks during the period under study. By calculating these efficiency concepts, we can observe the efficiency levels of the domestic and foreign Islamic banks. In addition, by comparing both cost and profit efficiency, we can identify the influence of the revenue efficiency on the banks’ profitability.

Keywords: Islamic Finance, Islamic Banks, Revenue Efficiency, Data Envelopment Analysis

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Authors: Muhammad A. Ishaq, S. U. R. Aliyu

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This paper on an exposition of Islamic fiscal policy attempts to discuss the basic principles of Islamic fiscal policy in an Islamic economy. The paper presents a number of definitions of the subject matter, its nature and its tools of application. Government spending, taxation and public borrowings were identified as the tools of the policy. The paper identifies zakat both as a veritable source of revenue and a major instrument of economic stabilization. Furthermore, the paper presents an algebraic 2-sector and 3-sector models from the basic Keynesian model. The paper posits that in view of uniqueness of its instruments, absence of interest rate in the economy and the policy’s derive towards socioeconomic justice and redistribution, Islamic fiscal policy is capable of stabilizing Islamic economy and ushering it into the path of long term economic growth and prosperity.

Keywords: automatic built-in-stabilizers, government spending, Islamic fiscal policy, taxation, zakat

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Authors: Amer Alzaidi

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Islamic banking is an alternative solution to those people who are worried about Riba (interest) in all forms of transaction while using banking services and products. Today, banks around the world have Islamic banking services and products the in one form or another. The use of Islamic banking is not only restricted to Muslims world but have reached to non-Muslim countries like UK, USA, Australia and Canada as well. Compared to conventional banking, the adoption rate of Islamic banking is low because of unawareness of customers, financial cost, and performance issues. The interest in Islamic banking by financial institutions as well as low adoption rate motivated us to look this matter into detail in order to identify Critical Success Factors, which are positively motivating customers to use Islamic banking services/ products and Critical Risk Factors, which have significantly negative effect on the adoption of Islamic banking. The CSFs and CRFs will be initially identified from the literature using methodology called Systematic Literature Review, followed by the empirical analysis of these factors using survey research method. Later, we will develop Islamic Banking Adoption Model (IBAM) to help banks to assess their Islamic banking strategic positioning and to improve their operational efficiency. The first potential contribution of this research study will be the development of IBAM protocol that will provide us guidelines for conducting our actual SLR. The second major contribution of this research will be the development of Islamic Banking Adoption Model (IBAM), and the third contribution of this research study will be the evaluation of the developed IBMA.

Keywords: Islamic banking, adoption model, protocol, technology

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Authors: Tahira Imtiaz, Karim Ullah

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This paper aims to incorporate the banks employees’ perspective on acceptability of Islamic banking by the customers of Peshawar. A qualitative approach is adopted for which six in-depth interviews with employees of Islamic banks are conducted. The employees were asked to share their experience regarding customers’ acceptance attitude towards acceptability of Islamic banking. Collected data was analyzed through thematic analysis technique and its synthesis with the current literature. Through data analysis a theoretical framework is developed, which highlights the factors which drive customers towards Islamic banking, as witnessed by the employees. The practical implication of analyzed data evident that a new model could be developed on the basis of four determinants of human preference namely: inner satisfaction, time, faith and market forces.

Keywords: customers’ attraction, employees’ perspective, Islamic banking, Riba

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Authors: Riaz Dhai

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The inherent differences between Islamic and conventional finance have given rise to a debate on whether conventional accounting standards provide sufficient disclosure in the annual financial statements of Islamic financial institutions (IFI). This issue has become more pronounced due to the rapid growth of IFIs over the last decade. This paper seeks to collate the literature surrounding this debate as well as summarise the key macro and micro level financial reporting differences between conventional and Islamic accounting. Based on these findings we propose some important areas of future research in this emerging field.

Keywords: Islamic financial institutions, financial reporting, critical analysis, conventional accounting standards

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Authors: Muhammad Alhaji Maidugu

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The role played by Arabic and Islamic Studies in the history of Nigeria - particularly Northern part of the country - cannot be overemphasized. Before the British colonialism, Arabic language was the official language in some of the great empires in Nigeria such as the Kanem Borno Empire. Islam, on the other hand, is the state religion. Both the rulers and the ruled were deeply involved in the pursuit of Arabic and Islamic knowledge traveling as far as Egypt, Saudia Arabia for scholarship. Their homes are like a modern library where Islamic books are kept and used to teach the community the different fields of Arabic and Islamic Studies. Scholars of Arabic and Islamic Studies were highly regarded and well respected in the society as they were the decision makers, diplomats and advisers to the authorities. Unfortunately, the colonizers used their influence and force to replace this language with a foreign language. In fact, they tried to exterminate it. Arabic became less important in the country. Arabic and Islamic Students became less significant and anybody studying Arabic or Islamic Studies is looked down at with disdain, and the course is considered unprofessional. This paper aims at casting a glance in the position of Arabic and Islamic Studies in Yobe State, Nigeria and social, political, economical and moral challenges faced by the students at institutions of learning.

Keywords: challenges, students of Arabic and Islamic studies, tertiary, institutions, Yobe

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Authors: Dmitry Ustinov, Olga Lobareva

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The method of Deep Systemic Constellations is based on a phenomenological approach. Using the phenomenon of substitutive perception it was established that the human consciousness has a hierarchical structure, where deeper levels govern more superficial ones (reactive level, energy or ancestral level, spiritual level, magical level, and deeper levels of consciousness). Every human possesses a depth of consciousness to the spiritual level, however deeper levels of consciousness are not found for every person. It was found that the spiritual level of consciousness is not homogeneous and has its own internal hierarchy of sublevels (the level of formation of spiritual values, the level of the 'inner observer', the level of the 'path', the level of 'God', etc.). The depth of the spiritual level of a person defines the paradigm of all his internal processes and the main motives of the movement through life. At any level of consciousness disturbances can occur. Disturbances at a deeper level cause disturbances at more superficial levels and are manifested in the daily life of a person in feelings, behavioral patterns, psychosomatics, etc. Without removing the deepest source of a disturbance it is impossible to completely correct its manifestation in the actual moment. Thus a destructive pattern of feeling and behavior in the actual moment can exist because of a disturbance, for example, at the spiritual level of a person (although in most cases the source is at the energy level). Psychological work with superficial levels without removing a source of disturbance cannot fully solve the problem. The method of Deep Systemic Constellations allows one to work effectively with the source of the problem located at any depth. The methodology has confirmed its effectiveness in working with more than a thousand people.

Keywords: constellations, spiritual psychology, structure of consciousness, transpersonal psychology

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Authors: Mouldi Djelassi, Jamel Boukhatem

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Background: A relation has been established between Islamic banks' activities and interest rates. The aim of this study was to explore the impact of interest rates on the deposits and loans held by Islamic and conventional banks in Saudi Arabia. Methods: A time series data was performed over the period 2008Q1-2020Q2 on eight conventional banks and four Islamic banks. The impacts of interest rate shocks on deposits and loans were identified through panel vector autoregressive models. Results: Impulse response function analysis showed that increasing interest rates reduce loans and conventional deposits. For Islamic banks, deposits are more affected by interest rates than lending. Variance decomposition analysis revealed that deposits contribute to 61% of the Islamic financing variation and only 25% of the conventional loans. Conclusion: Interest rates impacted Islamic banks especially through deposits, which is inconsistent with the theoretical framework. Islamic deposits played an important role in Islamic financing variation and may provide to be a channel for the transmission of the monetary policy in a dual banking system. Monetary policy in Saudi Arabia works in part through “credits” (conventional bank credits) as well as through “money” (conventional and Islamic bank deposits).

Keywords: Islamic banking, interest rates, monetary policy transmission, panel VAR

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Authors: Irena Paramita Pramono

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Islamic bank is a financial industry with huge potential to grow in Indonesia. Profit-sharing agreement in the operations of Islamic banks distinguishes Islamic banks with conventional banks. Profit-sharing agreement allows sharing of benefits and risks between shahibul maal and mudharib in islamic bank. This study aimed to observe the patterns of influence between the risk-sharing agreement, financing risk and Profitability in Islamic banks. This research used several Islamic banks as sample and path analysis method. The empirical results of this research shows that the profit-sharing agreement in deposits structure has no direct significant effect to ROA, but it has indirect effect to ROA through profit-sharing financing. On the other hand, profit-sharing financing has direct and indirect influence to ROA through financing risk. This research shows that profit-sharing financing has a positive significant effect to the financing risk and also to the ROA. The research recommends Islamic banks to continue using and developing profit-sharing agreement in its operational activities, hence to create value.

Keywords: Islamic bank, profit-loss sharing agreement, financing risk, profitability

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Authors: Khan Shahid, Shahid Zakia

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The article demonstrates how Theology and Islamic Philosophy can be illuminated and enhanced through the application of the SOUL framework (Sincere act, Optimization effort, Ultimate goal, Law compliance). The study explores historical development using a phenomenological approach and integrates the SOUL framework to enrich Theology and Islamic Philosophy. The proposed framework highlights the significance of these elements, ultimately leading to a deeper understanding of Theology and Islamic Philosophy.

Keywords: SOUL framework, illuminating human identity, theology, Islamic Philosophy, sincerity act, optimization effort, ultimate goals, law compliance

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Authors: Zidane Abderrezaq

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This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

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Authors: Mohammad Molavi, Mohsen Nourai

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The emancipation of the Muslim nation from the numerous problems and achieving to the decent position is one of the old desires of Muslim. Increasing efforts to realize this wish based on religious and rational teachings is the main goal for Muslim reformist. Almost all scholars relying on the Qur'an teaching emphasize on the significant role of Islamic Unity for the revival of Islamic civilization. But their methods for achieving to the Islamic Unity are not so clear. Generally speaking, failure to provide specific solutions, uncertainty in the face of universal literature in politics and governance, and etc. are some of the challenges facing the Islamic Unity.This paper via the descriptive-analytical method and by focusing on theoretical aspects of the subject has attempted to analyze Imam Khomeini points of view. Research findings show that there are several significant differences between Imam Khomeini's idea of Islamic Unity and ideas like 'Pan-Turkism', 'Pan-Arabism' and so on. Some of Imam Khomeini's principles in this regard are as follow: Strategic approach to unity, relying on juridical certain and systematic attitude, comprehensive approach, Holistic, rationality, and moderation. So, there is no any generality speaking or ambiguity in Khomeini's thought.

Keywords: Qur'an, Imam Khomeini, islamic unity, islamic nation, islamic political thought

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Authors: Tosaporn Mahamud

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The foundation of the Islamic center of Thailand plays a vital role in order to bring diverse Muslim communities in a common place. The center itself is a bridge between Muslims in Thailand and Islamic world. The operational task of the center runs by many organizations through the funds and funds use for different activities for empowerment of Thai society in general and Muslim community in particular. This paper aims to focus on the role of the foundation of the Islamic center of Thailand to the Thai society. This paper also finds out the historical background of the center in term of building structure and design and functions.

Keywords: design, empowerment, islamic, society

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Authors: Olutayo Stephen Shodipo

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This paper explores how individuals with disabilities understand and express their spirituality like everyone else can help provide church ministers and religious leaders with new knowledge of human experience and change the way pastoral care ministry is being practiced with this population. Disability literature has revealed studies on various aspects of disability. However, on the spirituality of people with disabilities, there is a gap. This paper offers a brief overview of what has been studied on the spiritual needs of adults with developmental disabilities (ADDs) and the church and the gap that still exists. Along with explaining this gap, it considers the reality of ADDs’ spiritual needs and why the church needs to validate their spirituality and religious expressions and create an inclusive environment where their spiritual experience and expressions can be enhanced and supported. This paper, then, aims to explore the diverse spiritual experiences of ADDs in faith communities, and their theological, moral, and social implications for Pastoral care ministry practices.

Keywords: spirituality, inclusive ministry, pastoral theology, developmental disability, pastoral care

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Authors: Norazilawati Binti Md Dahlal, Nabiila Binti Mat Yusoff, Anis Najiha Binti Ahmad

Abstract:

With the increasing demand for halal products, there is a growing emphasis on ensuring their quality and adherence to halal standards. However, the vulnerability of halal goods to fraud and adulteration poses a significant challenge to the integrity of the halal industry. Whistleblowers play a pivotal role in safeguarding the safety and integrity of halal food by exposing wrongdoings, misconduct, and fraudulent practices. This study explores the implementation of whistleblowing practices aligned with halal and toyyib principles to effectively address halal food fraud issues. Whistleblowing is defined as the act of disclosing information about misconduct, immorality, or unlawful activities to relevant authorities or the public. Although whistleblowing is universally recognized as beneficial, it exposes whistleblowers to substantial risks, including career setbacks, reputation damage, and personal safety threats. Despite legal protections, whistleblowers often face retaliation and hesitancy to come forward. By integrating the principles of halal and toyyib, which encompass the physical and spiritual as well as material and supernatural elements, effective whistleblowing practices can be developed. These principles include the physical characteristic of the product in accordance with Shari’ah law (P1); products that are sourced ethically and responsibly (P2); Products that meet high standard of quality and safety (P3); functioning as servant and caliph of Allah in managing according to Allah's commands and prohibitions (P4); not excessively wasteful or extravagant (P5); positive moral and spiritual implications associated with the product (P6); and aimed at achieving prosperity in both this life and the Hereafter (P7). Employing a quantitative research approach, this study examines Islamic primary data sources and secondary data sources to investigate the prevalence and impact of whistleblowing in the halal industry. By analyzing the principles of halal and toyyib and exploring the importance of whistleblowing effective whistleblowing practices, this research aims to enhance our understanding of promoting accountability and justice within the halal industry from an Islamic perspective.

Keywords: whistleblowing, halal and toyyib, food fraud, halal integrity, Islamic practices

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