Assoc. Prof. Dr. Aishath Muneeza
Qualification:Ph.D.in Law in International Islamic University Malaysia. (2013)
Fields/Area of Specialization:Islamic Banking Law
Assoc. Prof. Dr. Aishath Muneeza holds a Ph.D.in Law, Masters in Banking Law, and a Bachelor of Laws (Hons) all from the International Islamic University of Malaysia. She is a wealth of knowledge in her field of specialization. She has acquired significant education and work experience in Islamic Law, Islamic Banking & Finance and many other related subjects. She has presented numerous research papers in international conferences held in different parts of the world and has also published academic books and papers on Islamic Finance.

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Showing results 1 to 10 of 209
  • Legal_and_compliance_reform_for_Islamic_financial_benchmarking_Aishath.pdf.jpg
  • Chapter in Book


  • Authors: Aishath Muneeza; Zakariya Mustapha (2022)

  • Islamic financial benchmarking is an area that requires research and needs practical solutions to advance the Islamic finance industry to a greater level. From the inception of contemporary Islamic finance, criticisms have been made about the fact that in Islamic finance, financing rates are benchmarked against conventional interest rates. To respond to these criticisms, Sharī ͑ah scholars have given justifications from Sharī ͑ah perspectives and in this regard some scholars ask: “Does consumption of beef suddenly become forbidden if its price were based on the price of pork?” (Alshubaily, 2018).

  • Proposing_an_organization_framework_for_the_Shari'ah_Secretariat_of_Islamic_banks_in_Bangladesh_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Md. Kausar Alam; Abu Umar Faruq Ahmad; Aishath Muneeza; Mosab I. Tabash; Md Adnan Rahman (2022)

  • Shari'ah Secretariat plays a significant role in assisting Shari'ah Supervisory Boards (SSBs) in their role in achieving Shari'ah compliance in Islamic banks (IBs). The key objective of the study is to develop a demographic framework of the Shari'ah Secretariat for the IBs in Bangladesh. The study applied qualitative case study research. The data have been collected from 17 respondents through semi-structured interviews from IBs and professional experts in Bangladesh. This study proposes a full-time Shari'ah Secretariat and several departments for further enhancement of the Shari'ah functions in IBs in Bangladesh. The framework proposed in this study covers the formation, functions, c...

  • Maldives_Islamic_Bank_expands_operations_to_B_Atoll_Aishath Muneezaa.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • Maldives Islamic Bank (MIB) has expanded its operations to B Atoll, which is the 6th atoll, by launching its 19th ATM at B Eydhafushi on the 6thMarch 2022. MIB has placed an eCRM machine in Eydhafushi and according to MIB, this is the first establishment of its kind based on the digital strategy of the bank.

  • Islamic_finance_in_North_America_Aishath_Kabir_Tahsin.pdf.jpg
  • Journal Article


  • Authors: M. Kabir Hassan; Tahsin Huq; Aishath Muneeza (2022)

  • Islamic finance is an alternative source of financing to the conventional financing that emerged via institutionalization in the 1960s. It has gained popularity in the world irrespective of faith convictions due to the universal and ethical principles adhered in the practice of it. In this regard, North America is not an exception. In the United States and Canada, Islamic finance has been adopted, and there is an established regulatory environment for the operation of it with political support. There is also a wide range of innovative Islamic finance products structured and used in this part of the world that is conducive to the demand of the population and regulatory environment of I...

  • Maldives_Islamic_Bank_declares_dividend_for_the_year_ended_the_31st_December_2021_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • Following a meeting held on the 24th April 2022, the Maldives Islamic Bank (MIB), the only fully-fledged Islamic bank in the Maldives, announced in a press release on the 25th April 2022 that its board of directors has recommended a cash dividend of MVR33.48 million (US$2.16 million) equivalent to MVR1.49 (9.6 US cents) per ordinary share for the year ended the 31st December 2021. This dividend recommendation is subject to the final approval of the shareholders at MIB's upcoming 12th annual general meeting (AGM). MIB's 2021 annual report stated that at the 11th AGM of MIB held in 2021, shareholders resolved to declare a final dividend of MVR27.56 million (US$1.78 million), equating to...

  • The_need_to_digitize_sukuk_issuance_amid_Covid-19_crisis_Aishath et al.pdf.jpg
  • Chapter in Book


  • Authors: Sherin Kunhibava; Zakariya Mustapha; Aishath Muneeza; Auwal Adam Sa'ad; Mohammad Ershadul Karim (2022)

  • Covid-19 pandemic was a health crisis that plunged the world into economic turmoil due to its resultant national lockdowns across economies which brought business and market activities to a standstill. In order to adapt to ensuing restrictions owing to the pandemic, forge ahead in a new way of living, work and interactions with one another (new normal), digitizing business and market operations is considered a necessary option. Sukuk is an essential Islamic capital market product whose operations involve multiple parties/intermediaries alongside some technical financial, administrative and legal/shariah processes. On this note, this chapter aims to study and examine the need for digit...

  • Internationalization_of_zakat_to_serve_humanity_in_the_midst_of_Covid-19_Jemilah_Kabir_Aishath.pdf.jpg
  • Chapter in Book


  • Authors: Jemilah Mahmood; M. Kabir Hassan; Aishath Muneeza (2022)

  • Zakat is an effective Islamic social financial tool that could be used to eliminate global poverty. The pandemic has turned back the world's poverty clock and as such, more work is required to bring equitable and shared prosperity to the world. International organizations that serve humanity could be used as intermediaries of zakat to reach out to those categories of legal recipients of zakat who are most deserved of such assistance, but who are unidentified and unreachable by the zakat organizations. This is with the ultimate objective of enhancing the effectivity of zakat as a social finance tool. However, using international organizations as zakat intermediaries is not a straightfo...

  • Bank_of_Maldives_appoints_new_director_of_Islamic_banking_Aishath Muneeza.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • The Bank of Maldives has announced the appointment of Hassan Kalaam as the new director of Islamic banking in a press release dated the 7th February 2022. Hassan is a licensed Shariah advisor with more than 10 years of experience in the financial services and banking industry. Since joining the bank in 2013, Hassan has played a key role in contributing to the success of the bank's steadily growing Islamic banking arm.

  • Towards_a_post-covid_global_financial_system_Kabir_Aishath_Adel.jpg.jpg
  • Book


  • Authors: M. Kabir Hassan; Aishath Muneeza; Adel M. Sarea (2022)

  • The impact of Covid-19 has exposed major cracks in the global financial system and has severely undermined global financial stability. Never have the shortcomings of universal financialization - the dominant principle of the global financial system for the past thirty-odd years - been more obvious or more painful. Islamic finance provides ways forward: based on commercial and social modes of risk-sharing and financing, it offers radical structural solutions to the health, human and financial crises faced in this unprecedented time. In Towards a post-Covid global financial system lessons in social responsibility from Islamic finance, an international team of experts explore how Covid-1...

  • Parliament_of_Maldives_to_give_final_approval_for_Maldives_becoming_a_member_of_IFTC_Aishath .pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • On the 6th June 2022, the president of the Maldives, Ibrahim Mohamed Solih, sent a letter to the parliament requesting it to endorse the Maldives as a member of the International Islamic Trade Finance Corporation (ITFC). On the 24th May 2022, the cabinet approved the Maldives to become a member of the ITFC; however the final permission has to be given by the parliament. Even now, the ITFC has been providing financing facilities for state-owned enterprises. For instance, on the 1st June 2022, it is reported that the ITFC renewed a Murabahah trade financing agreement for US$175 million to support the import of essential commodities with the State Trading Organization of the Maldives. It...

Assoc. Prof. Dr. Aishath Muneeza
author picture
Qualification: Ph.D.in Law in International Islamic University Malaysia. (2013)
Fields/Area of Specialization: Islamic Banking Law
Assoc. Prof. Dr. Aishath Muneeza holds a Ph.D.in Law, Masters in Banking Law, and a Bachelor of Laws (Hons) all from the International Islamic University of Malaysia. She is a wealth of knowledge in her field of specialization. She has acquired significant education and work experience in Islamic Law, Islamic Banking & Finance and many other related subjects. She has presented numerous research papers in international conferences held in different parts of the world and has also published academic books and papers on Islamic Finance.
Showing results 1 to 10 of 209
  • Legal_and_compliance_reform_for_Islamic_financial_benchmarking_Aishath.pdf.jpg
  • Chapter in Book


  • Authors: Aishath Muneeza; Zakariya Mustapha (2022)

  • Islamic financial benchmarking is an area that requires research and needs practical solutions to advance the Islamic finance industry to a greater level. From the inception of contemporary Islamic finance, criticisms have been made about the fact that in Islamic finance, financing rates are benchmarked against conventional interest rates. To respond to these criticisms, Sharī ͑ah scholars have given justifications from Sharī ͑ah perspectives and in this regard some scholars ask: “Does consumption of beef suddenly become forbidden if its price were based on the price of pork?” (Alshubaily, 2018).

  • Proposing_an_organization_framework_for_the_Shari'ah_Secretariat_of_Islamic_banks_in_Bangladesh_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Md. Kausar Alam; Abu Umar Faruq Ahmad; Aishath Muneeza; Mosab I. Tabash; Md Adnan Rahman (2022)

  • Shari'ah Secretariat plays a significant role in assisting Shari'ah Supervisory Boards (SSBs) in their role in achieving Shari'ah compliance in Islamic banks (IBs). The key objective of the study is to develop a demographic framework of the Shari'ah Secretariat for the IBs in Bangladesh. The study applied qualitative case study research. The data have been collected from 17 respondents through semi-structured interviews from IBs and professional experts in Bangladesh. This study proposes a full-time Shari'ah Secretariat and several departments for further enhancement of the Shari'ah functions in IBs in Bangladesh. The framework proposed in this study covers the formation, functions, c...

  • Maldives_Islamic_Bank_expands_operations_to_B_Atoll_Aishath Muneezaa.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • Maldives Islamic Bank (MIB) has expanded its operations to B Atoll, which is the 6th atoll, by launching its 19th ATM at B Eydhafushi on the 6thMarch 2022. MIB has placed an eCRM machine in Eydhafushi and according to MIB, this is the first establishment of its kind based on the digital strategy of the bank.

  • Islamic_finance_in_North_America_Aishath_Kabir_Tahsin.pdf.jpg
  • Journal Article


  • Authors: M. Kabir Hassan; Tahsin Huq; Aishath Muneeza (2022)

  • Islamic finance is an alternative source of financing to the conventional financing that emerged via institutionalization in the 1960s. It has gained popularity in the world irrespective of faith convictions due to the universal and ethical principles adhered in the practice of it. In this regard, North America is not an exception. In the United States and Canada, Islamic finance has been adopted, and there is an established regulatory environment for the operation of it with political support. There is also a wide range of innovative Islamic finance products structured and used in this part of the world that is conducive to the demand of the population and regulatory environment of I...

  • Maldives_Islamic_Bank_declares_dividend_for_the_year_ended_the_31st_December_2021_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • Following a meeting held on the 24th April 2022, the Maldives Islamic Bank (MIB), the only fully-fledged Islamic bank in the Maldives, announced in a press release on the 25th April 2022 that its board of directors has recommended a cash dividend of MVR33.48 million (US$2.16 million) equivalent to MVR1.49 (9.6 US cents) per ordinary share for the year ended the 31st December 2021. This dividend recommendation is subject to the final approval of the shareholders at MIB's upcoming 12th annual general meeting (AGM). MIB's 2021 annual report stated that at the 11th AGM of MIB held in 2021, shareholders resolved to declare a final dividend of MVR27.56 million (US$1.78 million), equating to...

  • The_need_to_digitize_sukuk_issuance_amid_Covid-19_crisis_Aishath et al.pdf.jpg
  • Chapter in Book


  • Authors: Sherin Kunhibava; Zakariya Mustapha; Aishath Muneeza; Auwal Adam Sa'ad; Mohammad Ershadul Karim (2022)

  • Covid-19 pandemic was a health crisis that plunged the world into economic turmoil due to its resultant national lockdowns across economies which brought business and market activities to a standstill. In order to adapt to ensuing restrictions owing to the pandemic, forge ahead in a new way of living, work and interactions with one another (new normal), digitizing business and market operations is considered a necessary option. Sukuk is an essential Islamic capital market product whose operations involve multiple parties/intermediaries alongside some technical financial, administrative and legal/shariah processes. On this note, this chapter aims to study and examine the need for digit...

  • Internationalization_of_zakat_to_serve_humanity_in_the_midst_of_Covid-19_Jemilah_Kabir_Aishath.pdf.jpg
  • Chapter in Book


  • Authors: Jemilah Mahmood; M. Kabir Hassan; Aishath Muneeza (2022)

  • Zakat is an effective Islamic social financial tool that could be used to eliminate global poverty. The pandemic has turned back the world's poverty clock and as such, more work is required to bring equitable and shared prosperity to the world. International organizations that serve humanity could be used as intermediaries of zakat to reach out to those categories of legal recipients of zakat who are most deserved of such assistance, but who are unidentified and unreachable by the zakat organizations. This is with the ultimate objective of enhancing the effectivity of zakat as a social finance tool. However, using international organizations as zakat intermediaries is not a straightfo...

  • Bank_of_Maldives_appoints_new_director_of_Islamic_banking_Aishath Muneeza.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • The Bank of Maldives has announced the appointment of Hassan Kalaam as the new director of Islamic banking in a press release dated the 7th February 2022. Hassan is a licensed Shariah advisor with more than 10 years of experience in the financial services and banking industry. Since joining the bank in 2013, Hassan has played a key role in contributing to the success of the bank's steadily growing Islamic banking arm.

  • Towards_a_post-covid_global_financial_system_Kabir_Aishath_Adel.jpg.jpg
  • Book


  • Authors: M. Kabir Hassan; Aishath Muneeza; Adel M. Sarea (2022)

  • The impact of Covid-19 has exposed major cracks in the global financial system and has severely undermined global financial stability. Never have the shortcomings of universal financialization - the dominant principle of the global financial system for the past thirty-odd years - been more obvious or more painful. Islamic finance provides ways forward: based on commercial and social modes of risk-sharing and financing, it offers radical structural solutions to the health, human and financial crises faced in this unprecedented time. In Towards a post-Covid global financial system lessons in social responsibility from Islamic finance, an international team of experts explore how Covid-1...

  • Parliament_of_Maldives_to_give_final_approval_for_Maldives_becoming_a_member_of_IFTC_Aishath .pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2022)

  • On the 6th June 2022, the president of the Maldives, Ibrahim Mohamed Solih, sent a letter to the parliament requesting it to endorse the Maldives as a member of the International Islamic Trade Finance Corporation (ITFC). On the 24th May 2022, the cabinet approved the Maldives to become a member of the ITFC; however the final permission has to be given by the parliament. Even now, the ITFC has been providing financing facilities for state-owned enterprises. For instance, on the 1st June 2022, it is reported that the ITFC renewed a Murabahah trade financing agreement for US$175 million to support the import of essential commodities with the State Trading Organization of the Maldives. It...