Search results for: islamic finance

Authors: Nurdan Tumbek Tekeoglu

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With rising importance in all over the world, crowdfunding has become a new financing and marketing method for film industry. Crowdfunding is a new practice in film industry for funding a film project by raising monetary contributions from a large group of people. By crowdfunding an estimate fund of 20 billion USD has been raised in 2015. Through the crowdfunding platforms not only the film makers, but also the entrepreneurs and nongovernmental organizations finance and market their projects. Among the prominent crowdfunding platforms in Turkey, we can list Crowdfon, Fonlabeni, Kickstarter, Indiego, Bi Ayda, and Fongogo platforms. In 2014 the Turkish film industry celebrated its 100th anniversary and reached its peak producing around 150-200 films a year reminding the brilliant years of Yesilcam period. In general feature films apply for crowdfunding. Until April 2015 more than 190 films applied for crowdfunding platforms. Crowdfunding has a promising future in Turkey, since donation traditions has an important place in Turkish culture traditionally. This paper is exploring the marketing of the crowdfunding platforms established in Turkey in order for the films meet their target groups during the pre-production period.

Keywords: crowdfunding, marketing of films, Turkey, Turkish film industry

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Authors: Ghavamaldin Asadian, Aptin Rahnavard, Mariamalsadat Taghavi

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Achillea millefolium L. is one of the most important medicinal plants with antioxidant compounds. The use of compounds derived from plants reduces the incidence of many chronic diseases. The purpose of this investigation is study of total phenolic content and antioxidant activity some of ecotypes yarrow grown in natural habitats in Iran. This experimental study was conducted in 2013 at the Islamic Azad University, Tonekabon Branch. After identifying the natural sites, we have attempted to harvest of aerial part and after drying in lab temperature, essential oil was extracted by steam distillation. In this research for evaluate the antioxidant properties was used of three method, DPPH, Antioxidant capacity ferro revival and phosphomolybdenum, that all mechanism is based on the electron donating. All ecotypes had antioxidant activity and ecotypes grown in Kandovan region were measured with the most total phenolic (89.5 mg GA/g dew) and flavonoid (20.4 µg/g dew) and the lowest in Saveh (71.3 mg GA/g dew, 17.4 µg/g dew). Variation of the antioxidant properties were significant (P≤0.01) in areas and were accounted Kandovan with highest value and the lowest in Save. As a result, yarrow essential oil grown in Kandovan in terms of amount of total phenolic, flavonoid and antioxidant property, it was determined the best natural habitat.

Keywords: achillea millefolium L., antioxidant compounds, DPPH, total phenolic, flavonoid natural habitats

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Authors: Li Yong

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Using the data of 135 financial institutions in China from 2018 to 2022, this paper deeply analyzes the underlying theoretical mechanism of artificial intelligence (AI) technology promoting financial development and examines the impact of AI technology on the digital transformation performance of financial enterprises. It is found that the level of AI technology has a significant positive impact on the development of finance. Compared with the impact on the expansion of financial scale, AI technology plays a greater role in improving the performance of financial institutions, reflecting the trend characteristics of the current AI technology to promote the evolution of financial structure. By investigating the intermediary transmission effects, we found that AI technology plays a positive role in promoting the performance of financial institutions by reducing operating costs and improving customer satisfaction, but its function in innovating financial products and mitigating financial risks is relatively limited. In addition, the promotion of AI technology in financial development has significant heterogeneity in terms of the type, scale, and attributes of financial institutions.

Keywords: artificial intelligence technology, financial development, China, heterogeneity

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Authors: Haitham Assiri, Priyadarsi Nanda

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The world is gradually entering the fourth industrial revolution. E-Government services are scaling government operations across the globe. However, as promising as an e-Government system would be, it is also susceptible to malicious attacks if not properly secured. This study found out that, in Saudi Arabia, the e-Government website, Yesser is vulnerable to external attacks. Obviously, this can lead to a breach of data integrity and privacy. In this paper, a Systematic Literature Review was conducted to explore possible ways the Kingdom of Saudi Arabia can take necessary measures to strengthen its e-Government system using Blockchain. Blockchain is one of the emerging technologies shaping the world through its applications in finance, elections, healthcare, etc. It secures systems and brings more transparency. A total of 28 papers were selected for this SLR, and 19 of the papers significantly showed that blockchain could enhance the security and privacy of Saudi’s e-government system. Other papers also concluded that blockchain is effective, albeit with the integration of other technologies like IoT, AI and big data. These papers have been analysed to sieve out the findings and set the stage for future research into the subject.

Keywords: blockchain, data integrity, e-government, security threats

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Authors: Safa Moussoud

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Contrary to modern misconceptions, women in the Muslim Middle Ages enjoyed a generous degree of liberty both in the public and private sphere. Poetry was a significant component of public life throughout the Muslim Civilization as its vitality and multi-generic nature acted as a way for medieval Muslims to communicate with each other. As such, a continuity of poetic literary heritage was preserved through multiple centuries and dynasties. This paper will argue that Muslim women were active participants in medieval Muslim society’s social and public sphere and therefore, can be seen as vital contributors to the intellectual and literary creation of the Muslim Civilization. This paper will examine poetry written by Safiyya al-Baghddadiya and Salma bint al-Qaratisi from the Abbasid period, as well as Wallada bint al-Mustakfi from the Andalusian period and focus particularly at the poetesses’ modes of self-expression regarding beauty and sexuality to argue that Medieval Muslim women enjoyed creative and literary liberty thus allowing them to proclaim their subjectivity publicly through poetry. By emphasizing women’s involvement in the social aspects of Medieval Muslim societies, this paper will ultimately urge for a more thorough investigation of Muslim women’s role and function in the making of the Muslim Civilization.

Keywords: Arabo-Islamic society, medieval Muslims, Muslim poetesses, self-expression

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Authors: Azizeh Chalak, Firouzeh Baktash

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Reticence is a prominent and complex phenomenon which occurs in foreign language classrooms and influences students’ oral passivity. The present study investigated the extent in which students experience reticence in the EFL classrooms and explored the underlying factors triggering reticence. The participants were 104 Iranian freshmen undergraduate male and female EFL students, who enrolled in listening and speaking courses, all majoring in English studying at Islamic Azad University Isfahan (Khorasgan) Branch and University of Isfahan, Isfahan, Iran. To collect the data, the Reticence Scale-12 (RS-12) questionnaire which measures the level of reticence consisting of six dimensions (anxiety, knowledge, timing, organization, skills, and memory) was administered to the participants. The statistical analyses showed that the reticent level was high among the Iranian EFL undergraduate students, and their major problems were feelings of anxiety and delivery skills. Moreover, the results revealed that factors such as low English proficiency, the teaching method, and lack of confidence contributed to the students’ reticence in Iranian EFL classrooms. It can be implied that language teachers’ awareness of learners’ reticence can help them choose more appropriate activities and provide a friendly environment enhancing hopefully more effective participation of EFL learners. The findings can have implications for EFL teachers, learners and policy makers.

Keywords: anxiety, Iranian EFL learners, reticence, reticence scale-12

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Authors: Ebrahim Mansoori, Datin Joriah Muhammad

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Recent studies in finance have focused on the effect of external variables on working capital management. This study investigates the effect of corruption indexes on firms' working capital management. A large data set that covers data from 2005 to 2013 from five ASEAN countries, namely, Malaysia, Indonesia, Singapore, Thailand, and the Philippines, was selected to investigate how the level of corruption in these countries affect working capital management. The results of panel data analysis include fixed effect estimations showed that a high level of countries' corruption indexes encourages managers to shorten the CCC length. Meanwhile, the managers reduce the level of investment in cash and cash equivalents when the levels of corruption indexes increase. Therefore, increasing the level of countries' corruption indexes encourages managers to select conservative working capital strategies by reducing the level of NLB.

Keywords: ASEAN, corruption indexes, panel data analysis, working capital management

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Authors: Rizwana Tabassum

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Introductive Statement: Delay in budget releases is often cited as one of the biggest bottlenecks to smooth and efficient service delivery. While budget release from the ministry of finance to the line ministries has been expedited by simplifying the procedure, budget distribution within the line ministries remains one of the major causes of slow budget utilization. While the budget preparation is a bottom-up process where all DDOs submit their proposals to their controlling officers (such as Upazila Civil Surgeon sends it to Director General Health), who consolidate the budget proposals in iBAS++ budget preparation module, the approved budget is not disaggregated by all DDOs. Instead, it is left to the discretion of the controlling officers to distribute the approved budget to their sub-ordinate offices over the course of the year. Though there are some need-based criteria/formulae to distribute the approved budget among DDOs in some sectors, there is little evidence that these criteria are actually used. This means that majority of the DDOs don’t know their yearly allocations upfront to enable yearly planning of activities and expenditures. This delays the implementation of critical activities and the payment to the suppliers of goods and services and sometimes leads to undocumented arrears to suppliers for essential goods/services. In addition, social sector budgets are fragmented because of the vertical programs and externally financed interventions that pose several management challenges at the level of the budget holders and frontline service providers. Slow procurement processes further delay the provision of necessary goods and services. For example, it takes an average of 15–18 months for drugs to reach the Upazila Health Complex and below, while it should not take more than 9 months in procuring and distributing these. Aim of the Study: This paper aims to investigate the budget distribution practices of an emerging economy, Bangladesh. The paper identifies challenges of timely distribution and ways to deal with problems as well. Methodology: The study draws conclusions on the basis of document analysis which is a branch of the qualitative research method. Major Findings: Upon approval of the National Budget, the Ministry of Finance is required to distribute the budget to budget holders at the department level; however, budget is distributed to drawing and disbursing officers much later. Conclusions: Timely and predictable budget releases assist completion of development schemes on time and on budget, with sufficient recurrent resources for effective operation. ADP implementation is usually very low at the beginning of the fiscal year and expedited dramatically during the last few months, leading to inefficient use of resources. The timely budget release will resolve this issue and deliver economic benefits faster, better, and more reliably. This will also give the project directors/DDOs the freedom to think and plan the budget execution in a predictable manner, thereby ensuring value for money by reducing time overrun and expediting the completion of capital investments, and improving infrastructure utilization through timely payment of recurrent costs.

Keywords: budget distribution, challenges, digitization, emerging economy, service delivery

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Authors: Javier Sanchez Vidal, Ciarán Mac An Bhaird, Brian Lucey

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This study examines the decision by firm owners not to apply for intermediated debt due to a perception that their application will be rejected. Based on a sample of SMEs in 9 European countries over the period 2009-2011, we examine potential explanatory factors for borrower discouragement, including firm, macroeconomic, regulatory and banking industry variables. Compared with firms that applied for bank loans, discouraged borrowers are smaller, younger, have declining turnover and an increasing debt/assets ratio. Perceived willingness of banks to lend rather than the company’s own credit history is more important to encourage applications. Perceptions of refusal are procyclical and may be self-perpetuating. Increased concentration in the banking sector reduces discouragement, indicating the importance of relationship banking. Transmission of macro effects through the banking system and economic environment may also lead to higher levels of discouragement. A good regulatory scheme is also advisable, either for the lenders or the borrowers (overall the good ones).

Keywords: entrepreneurial finance, discouraged borrowers, banking, financial crisis, eurozone

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Authors: Mehrnoosh Pirhayati

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Translation can be affected by different meta-textual factors of target context such as ideology, politics, and culture. So, the rule of fidelity, or being faithful to the source text, can be ignored by the translator. On the other hand, critical discourse analysis, derived from applied linguistics, is entered into the field of translation studies and used by scholars for revealing hidden deviations and possible roots of manipulations. This study focused on the famous Persian translation of the bestseller book, “A**hole No More,” written by XavierCrement 1990, performed by Mahmud Farjami to comparatively and critically analyze it with its corresponding English original book. The researcher applied Pirhayati’s model and framework of translation criticism at the textual and semiotic levels for this qualitative study. It should be noted that Kress and Van Leeuwen’s semiotic model, along with Machin’s model of typographical analysis, was also used at the semiotic level. The results of the comparisons and analyses indicate thatthis Persian translation of the book is affected by the factors of ideology and economics and reveal that the Islamic attitude causes the translator to employ some strategies such as substitution and deletion. Those who may benefit from this research are translation trainers, students of translation studies, critics, and scholars.

Keywords: farjami (2013), Ideology, manipulation, pirhayati's (2013) model of translation criticism, Xavier crement (1990)

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Authors: Naseem Akhter, Rozina Khattak, Arshad Munir

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The Islamic social and family system is very clear concerning will, choice, consent and negation of compulsion and force in human life. Marriage is not only a civil contract but also a religious and spiritual contract between spouse (man and woman), which allows them for each other to live gladly, joyfully and legally in the society. It is an immortal and perpetual association between man and woman, which is filled with sympathetic affection, kindness, compassion and security. Islam gives specific rights to parents and guardians to set up the marriage ceremony and get done it as a respectful family occasion, confer their blessing and advice for a life partner of their children. The rights of parents and guardians are summed up in the term of "Willayah”. Islam does not permit parents, guardians and other relatives to compel their children regarding the marriage of their choice, because the groom and the bride are the real parties of the contract. Therefore, their willingness is of prime importance in order to spend whole life with each other. The Holy Prophet (peace and blessings of Allah be upon him) prohibits forcing a virgin to marriage without her permission, whether this is her father or someone else. The right of free consent to choose a life partner is the basic right for the human which is God (Allah) gifted. Unfortunately, forced marriage is a common practice in Pakistani society that has no link with Islam. This article is being written in the same context.

Keywords: choice, consent, forced marriage, Islam, parents, spouse

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Authors: Yosra Mefteh Rekik

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A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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Authors: Yongsheng Guo, Mengyu Lu

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This study investigates how Chinese SMEs manage financial risks in customer financing. 32 interviews were conducted, and grounded theory models were developed to link the causal conditions, actions, and consequences. This study found that Chinese ethical principles, including integrity, friendship, reciprocity, and cultural traits, including collectivism, acquaintance society, and long-term orientation, provide conditions for customer financing. The SMEs establish trust-based relationships with customers and build a social network. The SMEs reduce financial risk through diversification, frequent operations and enterprise reputations. Both customers and SMEs can get benefits, including customer experience and financial rewards for customers and financial resources and customer base for SMEs. But there are some problems, like default for customers and financial cost for enterprises. This study develops a resource and process capability theory of SMEs and a customer capital and customer value theory to connect finance, accounting, and management concepts.

Keywords: CRM, culture, ethics, financing from customer, SME

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Authors: Rafik Ouared

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The purpose of this paper is to invalidate decisions made by the Islamic conference led at Istanbul in 2016, which had defined two basic criteria to determine the start of the lunar month: (1)they are all based on the sighting of the crescent, be it observed or computed with modern methods, and (2) they've strongly recommended the adoption of the principle of 'unification of sighting', by which any occurrence of sighting anywhere would be applicable everywhere. To demonstrate the invalidation of those statements, a survey of 101 years of data, from 1938 to 2038, have been analyzed to compare the probability density function (PDF) of time difference between different types of fajr and new moon. Two groups of fajr have been considered: the 'natural fajr', which is the very first fajr following new moon, and the 'biased fajr', which is defined by human being inclusively of all chosen definitions. The parametric and non-parametric statistical comparisons between the different groups have shown the all the biased PDFs are significantly different from the unbiased (natural) PDF with probability value (p-value) less than 0.001. The significance level was fixed to 0.05. Conclusion: the on-going reference to sighting of crescent is inducing an significant bias in defining lunar calendar. Therefore, 'natural' calendar would be more applicable requiring a more contextualized revision of issue in fiqh.

Keywords: biased fajr, lunar calendar, natural fajr, probability density function, sighting of crescent, time difference between fajr and new moon

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Authors: Raleigh Blasdell, Amanda M. Sharp Parker, Lauren Waldrop, Brigid Toney

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It has been demonstrated that fictional media sources have persuasive effects on public beliefs; this study contributes to the social constructionist literature by conducting a content analysis of U.S. major motion pictures involving terrorism. Using the Unified Film Population Sampling Methodology, the top-grossing films were identified to examine the frequency and context of several constructs of terrorism, including terrorist demographics, type of terrorism, country of origin, organizational affiliation, crime typology, and victim demographics. Comparisons of these constructs, as depicted in the films, were then made with the extant academic literature on terrorism. The data provide notable information regarding the representation of terrorism by the film industry, as well the discrepancies between the scholarly literature and depictions in popular films. The results indicate vast differences between fiction and reality, emphasizing a 'Middle Eastern Islamic male' terrorist stereotype. Using the theoretical foundation of social constructionism, the findings provide insight into how inaccurate depictions in film can influence society’s beliefs about terrorism and terrorists, which subsequently can translate into public support for legislation and policies that are often fueled by misinformation.

Keywords: film, media, social constructionism, terrorism

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Authors: Abdulfatah A Raji

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This paper started with the definitions of literature, Arabic literature, transformation and went further to highlight the components of educational transformation. The general history of Arabic literature was discussed with focus on how it undergoes some transformations from pre-Islamic period through Quranic era, Abbasid literature to renaissance period in which the modernization of Arabic literature started in Egypt. It also traces the spread of Arabic literature in Nigeria from the pre-colonial era during the Kanuri rulers to Jihad of Usman Dan Fodio and the development of literature which manifested to the Teacher’s Colleges and Bayero University in Northern Nigeria. Also, the establishment of primary and post-primary schools by Muslim organizations in many cities and towns of the Western part of Nigeria. Literary criticism was also discussed in line with Arabic literature. Poetry work of eminent poets were cited to show its importance in line with educational transformation in Nigerian literature and lessons from the cited Arabic poetry works were also highlighted to include: motivation to behave well and to tolerate others, better spirits of interaction, love and co-existence among different sexes, religion etc. All these can help in developing a better educational transformation in Nigeria which can in turn help in how to conduct researches for national development. The paper recommended compulsory Arabic literature at all levels of the nations’ educational system as well as publication of Arabic books and journals to encourage peace in this era of conflicts and further transform Nigeria’s educational system for better.

Keywords: Arabic, literature, peace, development, Nigeria

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Authors: Abdullateef Abdulkarim Jimoh, Muhammad Lawal A., Usman Muhammad, Hamisu Abdullahi, Nuhu Abdullahi Jega

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Smart city projects can be aided by urban development policies in public facilities, but economic resources to finance urban system reorganization is an issue to various governments. This is further compounded with the impact of the slowing down of national economies. The aim of this paper is to emphasize the need to prioritize the economic benefits of smart city projects and, specifically, in towns transforming into cities like Birnin kebbi. The smart-city projects can aim at developing a new form of ‘‘modernity and civilization’’ of the productive economy. This study adopts the descriptive statistical approach to identify the key performance indicators (KPI) for tracking the progress of cities and its developmental objectives. It has been established that numerous aspects of the modernization policies can enhance the competitiveness of territories, particular in aspects of social cohesion, the diffusion of knowledge, creativity, accessibility, etc.

Keywords: economy, economic policy, public facilities, smart city, urbanization

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Authors: Amrial, Yuri Oktaviani, Ziyan Muhammad Farhan

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On the phase of shifting paradigm into sustainability, Indonesia is involved in Sustainable Development Goals (SDGs) project. That act is revealed by creating Medium and Long Term Roadmap for Sustainable Finance in Indonesia which collaborated design by Indonesia Financial Service Board (OJK) and Ministry of Environment and Forestry. One of alternative for that infrastructure financing is sharia-based financing, Green Sukuk (Sukuk specified on sustainable infrastructure project). Green Sukuk for infrastructure financing in Indonesia can be issued by the government in the form of Sukuk Project Financing. Moreover, banks in Indonesia can also participate for the issuance of Green Sukuk. So that the banks can create a financing for people who are concerned about environmental issues. By using qualitative methods and literature review, this paper aims to discuss potential, strategy and planning of Green Sukuk for financing sustainable infrastructure in the purpose of SDGs. This paper will benefit for government to give scientific discussion on the strategy of Green Sukuk in promoting sustainable goals infrastructure project in Indonesia.

Keywords: green sukuk, infrastructure, SDGs, sustainable

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Authors: Jorge M. Uribe

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We propose a methodology for setting the price of an insurance contract targeted to manage the risk associated with weather conditions that affect variable renewable energy generation. The methodology relies on conditional quantile regressions to estimate the weather risk of a solar panel. It is illustrated using real daily radiation and weather data for three cities in Spain (Valencia, Barcelona and Madrid) from February 2/2004 to January 22/2019. We also adapt the concepts of value at risk and expected short fall from finance to this context, to provide a complete panorama of what we label as weather risk. The methodology is easy to implement and can be used by insurance companies to price a contract with the aforementioned characteristics when data about similar projects and accurate cash flow projections are lacking. Our methodology assigns a higher price to an insurance product with the stated characteristics in Madrid, compared to Valencia and Barcelona. This is consistent with Madrid showing the largest interquartile range of operational deficits and it is unrelated to the average value deficit, which illustrates the importance of our proposal.

Keywords: insurance, weather, vre, risk

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Authors: Rorlinda Yusof, Siti Aishah Hassan, Afifah Mohamad Radzi, Mohd Hakimie Zainal Abidin, Amran Rasli, Inderbir Sandhu

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The purpose of this study is to examine the self-identities of gifted and talented students and the relationship between self-identity and academic accomplishment. A random sample of 300 students enrolled in a secondary education programme at the Pusat GENIUS@pintar Negara was chosen as respondents of a 151-item holistic-identity component development tool. The validity of the instrument was assessed using Principal Components Analysis and Factor Analysis via an inter-Item Correlation Matrix (Loading values 0.44 to 0.86), which resulted in the formation of eight dimensions. The Cronbach's Alpha was calculated to determine the instrument's reliability (the overall result was 0.98). The results showed that students' holistic-identity profiles were relatively high (mean=4.09, standard deviation=0.449). In addition, spiritual identity received the greatest mean score (4.34) out of the eight components of identity investigated, while leadership identity received the lowest mean score (3.88). A conceptual framework for Islamic school leadership is recommended to implement spiritual values without differentiation to harmonize spiritual and intellectual intelligence among all the students. Some benchmarking studies with other centres for gifted and talented students are recommended for further research.

Keywords: holistic self-identity, academic achievement, self-development programme, counselling services, gifted and talented students

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Authors: Khamdan Cahyari, Gumbolo Hadi Susanto, Pratikno Hidayat, Sukirman

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University canteen waste was used as raw material to produce biogas in Faculty of Industrial Technology, Islamic University of Indonesia. This faculty was home to more than 3000 students and lecturers who work and study for 5 days/week (8 hours/day). It produced approximately 85 ton/year organic fraction of canteen waste. Yet, this waste had been dumped for years in landfill area which cause severe environmental problems. It was proposed to utilize the waste as raw material for producing renewable energy source of biogas. This research activities was meant to investigate the effect of organic loading rate (OLR) and retention time (RT) of continuous anaerobic digestion process for 200 days. Organic loading rate was set at value 2, 3, 4 and 5 g VS/l/d whereas the retention time was adjusted at 30, 24, 18 and 14.4 days. Optimum condition was achieved at OLR 4 g VS/l/d and RT 24 days with biogas production rate between 0.75 to 1.25 liter/day (40-60% CH4). This indicated that the utilization of canteen waste to produce biogas was promising method to mitigate environmental problem of university canteen waste. Furthermore, biogas could be used as alternative energy source to supply energy demand at the university. This implementation is simultaneous solution for both waste and energy problems to achieve green campus.

Keywords: canteen waste, biogas, anaerobic digestion, university, green campus

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Authors: Aslina Asnawi, A. Amidah Amrawaty, Nirwana

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This article examines the relationship of local culture on the ability to access finance on beef cattle farmer. The local culture in this study associated with the values held by the farmer community so far and affect the character of farmers both in his personal life and his relationship with the surrounding environment. The data was collected by using interview and questionnaire instrument. Data were analyzed using descriptive analysis and correlation analysis. The result show that local culture identified in this study include: honesty, cleverness, decency, firmness, hard work, and shame. It’s important result that local culture has been associated with the ability to access financing for beef cattle farmers. The higher values are adopted and maintained by farmers will increase their ability to obtain loans from both informal and formal institutions. Strengthening the local culture is important because it affects the character of farmers who became one of the considerations for lenders other than collateral, capacity and capital is precisely the financing constraints for them.

Keywords: access funding, beef cattle farmers, character, local culture

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Authors: Abrar Ajmal

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The language used in literature reveals the culture and social gestalt of any society in which it has been constructed and consumed. This paper carries the same rationale, which aims to track certain socio-religious and cultural-economic disparities and discrepancies towards minorities, particularly Christians, in an Islamic re(public) where there is a clear majority of Muslims with the help of analysis of instances of language used in the narratives “Our Lady of Alice Bhatt” by Mohammad Hanif. It would highlight social inequalities practiced deeply in sociocultural discourse. Moreover, this research would also touch upon the question of gender discrimination and gender construction as a female entity in a male-chauvinistic scenic turnout using language since the novel revolves around communicative forfeits of Alice Bhatti’s life where she is fraying in fisticuffs to befit herself in a miss-fitted society. It would employ using Fairclough's framework for analysis to conduct a critical discourse analysis of the text at three axiom levels namely textual analysis, discursive practices, and socio-cultural analysis. Thus, the results would reveal textual findings in linguistic analysis, a range of embedded discourses in discursive practices, and consumption of the text into socio-cultural explications with the use of language and lexicalization employed in the selected excerpts.

Keywords: gendered discourse, socio-economic disparities minorities, Islamization, analytical framework

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Authors: Huraizah Arshad, Maizan Baba

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Malaysia is the country that consists of high population of Muslim community with more than 60%; as reported in year 2014. The stability of economy allowed people to contribute towards ongoing charity such as waqf and infaq. Waqf is an important component of the Islamic economic instruments since it is beneficial to help those needy in the community. Although waqf had been implemented in Malaysia for many years, there is no specific framework on how to manage and maintain the waqf properties in effective and efficient practice. Thus, a comprehensive framework related to the management and maintenance of the waqf properties is crucial to ensure that the administration of the fund is fair within the community. The objective of this article is to examine the related literatures in administration, management and maintenance of waqf for the past ten (10) years. The methodology of this article is through qualitative research based on literature on waqf administration and management; waqf planning and development and the application of maintenance concept. Data from each articles related in this field were collected and statistically analyzed using the SPSS software. A variable such as authorship patterns, number of articles published and geographical affiliation are identified in this study. The general finding in this article shows that there are still limited number of articles and papers published by the researchers related to this field. Henceforth, this article provides significant suggestions and strategies for the future research on waqf administration, management and maintenance.

Keywords: Waqf, administration and management, maintenance, improvement, facilities management

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Authors: Samir Assal

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This paper considers an international sample of venture capital and private equity funds to assess the role of law, corruption and culture in setting fund manager fees in terms of their fixed management fees, carried interest performance fees, clawbacks of fees and cash versus share distributions of fees. The data highlight a role of legal conditions in shaping fees paid to fund managers. In countries with better legal conditions, fixed fees are lower, carried interest fees are higher, clawbacks are less likely, and share distributions are more likely. These findings suggest legal conditions help to align the interests of managers and shareholders. More specifically, we examine which element of legal conditions matter most, and discover that corruption levels play a pronounced role in shaping fund manager fee contracts. We also show that cultural forces such as Hofstede’s measures of power distance and uncertainty avoidance likewise play a role in influencing fees.

Keywords: managerial compensation, incentive contracts, private equity, law and finance

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Authors: Reza Taherian, Naziasadat Naseri, Elham Fariborzi, Faride Hashmiannejad

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Effective management plays a crucial role in the success of educational institutions and training organizations. This study aims to develop and validate a professional competency model for managers in the education and training sector of Khorasan Razavi Province using a mindfulness approach based on Langerian theory. Employing a mixed exploratory design, the research involved qualitative data collection from experts and top national and provincial managers, as well as quantitative data collection using a researcher-developed questionnaire. The findings revealed that 81% of the competency of education and training managers is influenced by the dimensions of Langerian mindfulness, including engagement, seeking, producing, and flexibility. These dimensions were found to be predictive of the competencies of education and training managers, which encompass specialized knowledge, professional skills, pedagogical knowledge, commitment to Islamic values, personal characteristics, and creativity. This research provides valuable insights into the essential role of mindfulness in shaping the competencies of education and training managers, shedding light on the specific dimensions that significantly contribute to managerial success in Khorasan Razavi province.

Keywords: school managers, school manager’s competencies, mindfulness, Langerian mindfulness

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Authors: Saba Aziz

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Social enterprises are playing a growing role in transforming the lives of individuals and communities around the world, providing innovative solutions to critical social and environmental issues such as education, job creation, and health care. Women are increasingly utilising services of these enterprises to overcome socio-economic constraints and increase their access to business and market. This article systematically reviews the available literature on the role of social enterprises on women's empowerment in South Asia. Twelve key terms were specified and researched on five databases. Some of the literature was excluded based on the lack of evidence on the involvement of social enterprises. Remaining literature was rated according to the quality; due to methodological inconsistency, the findings are presented in a descriptive form. The relevant studies review the impact of social enterprises on women’s economic, social, relational, health, personal and political aspects of empowerment. In discussion, we outline areas for further research on social enterprises activity that impacts women’s overall empowerment specifically in South Asia.

Keywords: social enterprise, women empowerment, systematic review, well-being, social impact, micro finance, South Asia, Pakistan

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Authors: Bashir Tijjani Abubakar

Abstract:

Capital markets play a very important role in financing of private and public institutions in both developing and developed economies. Unfortunately, small and medium enterprises (SMEs) in those economies are yet to fully utilize the markets to finance their long financial needs. This study assesses the factors that influence the decisions of the Muslim Owners/Managers of SMEs in Nigeria and specifically in Kano to seek capital market financing. Logit regression model was used to assess the factors such as control of ownership, perception of the owners/managers on the interest rate charged by commercial banks, educational qualification, size, and age of the SMEs. The study reveals that all the factors have significant positive influence on the willingness of the SMEs Owners/Managers to seek capital market financing. The study recommends educating the Owners/Managers on the operations and products of the markets.

Keywords: capital markets, capital market financing, small and medium enterprise and willingness, size of an enterprise, age of an enterprise and control of ownership

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

Abstract:

In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index.

Keywords: fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality

Procedia PDF Downloads 441

Authors: Abongile Zweni

Abstract:

As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

Procedia PDF Downloads 265