Dr. Sa'id Adekunle Mikail
Qualification:PhD (Law), International Islamic University Malaysia (IIUM)
Fields/Area of Specialization:Shari‘ah, comparative laws and Islamic finance
Dr. Sa'id Adekunle Mikail obtained his Bachelor Degree of Shari‘ah (first class honour) from Islamic University of Madinah in Saudi Arabia, followed by Master of Comparative Laws and PhD (Law) from International Islamic University Malaysia (IIUM). His areas of specialisation include Shari‘ah, comparative laws and Islamic finance. His publications focus on Shari‘ah issues in Islamic finance, Islamic legal theory, comparative law, zakah, waqf and Islamic social finance

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Top Country : Malaysia

Showing results 1 to 17 of 17
  • 1573.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail (2021)

  • One of the basics of the regularity of the Islamic financial industry is that it is subject to many legal and regulatory protections that directly or indirectly affected the progress of its financing and investment activities. The Islamic capital market sector, especially sukuk, is one of the most affected products. However, the tradability of sukuk at the international and local levels may be hindered by differences in the legal system and jurisprudential schools of thought, which may lead to a lack of certainty and a defect in the applicable laws. There is no doubt that investing in sukuk requires providing reassurance and confidence from investors on the abundance of the necessary ...

  • The_emerging_Shariah_issues_of_the_Covid-19_pandemic_in_contemporary_Islamic_financial_applications_Said Bouheraoua_Fares_Said Adekunle.jpg.jpg
  • Research Monograph


  • Authors: Said Bouheraoua; Fares Djafri; Sa'id Adekunle Mikail (2021)

  • The outbreak of the coronavirus epidemic (COVID-19), classified by the World Health Organization as a pandemic, has led to the emergence of many challenges. It started as a health crisis and then turned into a global economic crisis that most countries could not manage or control as a result of lockdown policies and restrictions on movement and travel. This is not to mention the forms of damage that have affected the contractual obligations and rights of various contracting parties at the level of financial institutions such as banks, takaful companies and others. The challenges imposed by the coronavirus pandemic have led to a reexamination of the fiqh treatment of catastrophes. The ...

  • Unearned_wakalah_fee_in_the_takaful_industry_in_Malaysia_Sa'id Adekunle_Fares_Mahadi_Burhanuddin.jpg.jpg
  • Research Monograph


  • Authors: Sa'id Adekunle Mikail; Fares Djafri; Mahadi Ahmad; Burhanuddin Lukman (2021)

  • The issue of unearned wakalah fees (UWF) arises due to the statutory requirements in the Islamic Financial Services Act (IFSA 2013) that mandate takaful operators to refund any undue contribution with the corresponding wakaah fee in the event of surrender or termination of a takaful certificate. The relevant statutory provisions and Bank Negara Malaysia (BNM) guidelines on the valuation basis for liabilities of family and general takaful are open to more than one interpretation, and the exact definition and components of money not due are not clear. The implementation of the statutory provisions and regulatory guidelines on the refund of UWF has raised the following issues for the Ma...

  • Sustainable_financial_inclusion_a_fiqh_analysis_of_zakat_based_microfinance_scheme_Said_Salami.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Salami Saheed Adekunle (2020)

  • Sustainability has remained one of the most significant challenges facing microfinance industry in general and Islamic microfinance in particular. With the advent of Islamic microfinance and Islamic microinsurance the need for Shari'ah compliance is indispensable. Such need poses another additional challenge for Islamic microfinance practitioners. Many practitioners have argued that in practice Shari'ah compliance should be sacrificed for profitability so that Islamic microfinance industry could achieve sustainability and competitiveness in the global microfinance market. However, not a few researchers and Shari'ah scholars argued that the industry risk identity loss by trading Shari'...

  • Corporate_waqf_via_initial_public_offering_(IPO)_Mahadi_Noor_Sa'id Adekunle.jpg.jpg
  • Research Monograph


  • Authors: Mahadi Ahmad; Noor Suhaida Kasri; Sa'id Adekunle Mikail; Mohamed Ibrahim Negasi (2020)

  • The need for sustainable funding of institutions of higher learning led the Government of Malaysia to formulate its Universities Transformation Programme 2015-2025. This transformation agenda came out as the Purple Book which highlighted the need to address the funding gap that may occur in the education sector in the event of unexpected budget cuts. It called for the enhancement of income generation, endowments and waqf to achieve self-sustainability for higher learning institutions (Ministry of Higher Education Malaysia, 2016). Based on the above premise, this research explores the viability of corporate waqf via initial public offering (IPO) as an instrument to raise funds and sus...

  • Framework_for_financial_hardship_indebtedness_management_in_abandoned_housing_projects_in_Malaysia_Said_Noor_Sabar_Abideen.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Noor Suhaida Kasri; Saba' Radwan Jamal Elatrash; Abideen Adeyemi Adewale (2018)

  • This paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Shari'ah and statutory requirements. This study employs the qualitative research method using the inductive approach to analyze both primary and secondary data and sources. Data collection involved a series of semi-structured interviews with five volunteering Islamic banks and a representative of Abandoned Property Owners Association Malaysia (Victims). Statutory acts, regulatory policies, guidelines, directives and standards were also analyzed. The result indicates developer's default, underlying contracts, r...

  • Utilisation_of_zakah_and_waqf_fund_in_micro-takaful_models_in_Malaysia_Said_Ali_Salami.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Muhammad Ali Jinnah Ahmad; Salami Saheed Adekunle (2017)

  • This paper aims to investigate the utilisation of both zakah and waqf fund as external resources to ensure micro-takaful services are delivered to underserved communities in an effective and sustainable manner. It also addresses Shari'ah issues related to the zakah- and waqf-based model. The study is a qualitative-based research. It uses both focus group and content analysis approach to gather primary data and identify and interpret relevant secondary data and Shari'ah concepts in developing the zakah- and waqf-based micro-takaful model. It is discovered throughout the investigation of attributes of beneficiaries of zakah and waqf institutions as well as micro-takaful scheme that all ...

  • Zakat_al-duyun_al-masrifiyat_al-muajalat_Said Bouheraoua_Said Adekunle.pdf.jpg
  • Journal Article


  • Authors: Said Bouheraoua; Sa'id Adekunle Mikail; Riaz Ansari (2016)

  • This research examines the issue of zakah on non-current banking debts within its theoretical framework. The main problems dealt with are the conflicting contemporary juristic opinions on the issue of zakah on non-current banking debts as well as the conflicting ways that these opinions have been implemented. This makes it necessary to pinpoint the most important causes for the controversy and to identify the weightiest opinion on the matter. The study begins by defining non-current banking debts and identifying their most salient characteristics. It then undertakes an explanation of the classical scholarly controversy regarding zakah on debts which are not yet due. The authors have c...

  • Shariah_contracts_underpinning_musharakah_mutanaqisah_financing_conceptual_analysis_Said_Shahril.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Mohd Shahril Mat Rani (2016)

  • This paper examines the Shari'ah contracts applicable in musharakah mutanaqisah financing (MMF) (diminishing partnership) and possible Shari'ah issues arising from the combination of different Shari'ah contracts to effect the financing. The paper employs the qualitative research method, using textual and document analysis. It finds that the fiqh characterization of MMF by the International Islamic Fiqh Academy of the Organisation of Islamic Cooperation (IFA-OIC), which is also found in the Bank Negara Malaysia (BNM) Shariah Standard on Musyarakah, is the best contemporary approach, but it needs to be explicated. This paper identifies two major phases of MMF that are essential to attai...

  • Islamic venture capital in Malaysia development, constraints and way forward_Said_Adekunle.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Mahamad Arifin; Rusni Hassan (2014)

  • This study aims at examining the development of the Malaysian Islamic venture capital industry including government and regulatory policy initiatives for escalating the growth of the industry. It also highlights constraints and way forward for the industry. The paper employs qualitative approach focusing on secondary resources, documents, and field interview with practitioners and academia who are directly involved in the operations of Islamic venture capital in Malaysia. The study finds that policy-driven approach and liberalization facilitate the standardization of Shariah rulings of Shariah Advisory Council (SAC) and Shariah Committee (SC), which contribute to the effectiveness of ...

  • An_analysis_of_ethical_values_in_Islamic_entrepreneurship_Akram.pdf.jpg
  • Journal Article


  • Authors: Syahida Abdullah; Sa'id Adekunle Mikail (2014)

  • Entrepreneurship is an engine of growth in every society. Studies on the relationship between entrepreneurship and ethics are scanty. Thus, this research is designed to investigate ethical values embedied in entrepreneurship with a special focus on Islamic values ideal to entrepreneurship. This research finds ethical values with respect to Islamic entrepreneurship are indispensible factors as they constitute its essential element. Thus, four axioms of economic developed by Naqvi are just supporting evidence for what has deeply rooted in Islamic values and applicable to every aspects of human activities, and specifically to entrepreneurial activities.

  • The fiqh characterization of ijarah mawsufah fi al-dhimmah_Said_Adekunle.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail (2013)

  • The application of the Shari'ah principle of ijarah mawsufah fi al-dhimmah (forward lease) can be traced back to the early days of Islam. It is derived from the original contract of ijarah (lease), which has been widely used in the structuring of Islamic financial transactions to cater for various Muslim and non-Muslim needs over time. Thus, the classical books of Islamic jurisprudence have amply discussed its applications in various forms according to the prevailing circumstances. Today, ijarah mawsufah fi al-dhimmah is applied in the offering of various services in the Islamic finance industry relating to education, medical treatment, tourism, hajj and 'umrah, among others. Neverthe...

  • The_evolution_of_Islamic_venture_capital_in_Malaysia_Said Adekunle.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Sa'id Adekunle Mikail; Mahamad Arifin; Rusni Hassan (2013)

  • Islamic venture capital is a strategic tool to enhance cooperation in the Muslim world. This is because it helps form smart partnership among the members of OIC countries. Venture capital is an investment in highly risky projects in return for potential high return focusing mainly on technology. For more than a decade, the trend has shown tremendous changes; hence venture capital investment records increasing interest of the investors in other sectors such as agricultural production, medical instruments and others. Islamic venture capital has been running in parallel with the mainstream in Malaysia. There are several reasons supporting the emergence of Islamic venture capital namely, ...

  • Feasibility_of_the_application_of_the_doctrine_of_judicial_precedent_in_civil_and_Shariah_courts_Said Adekunle.pdf.jpg
  • Journal Article


  • Authors: Kyaw Hla Win; Sa'id Adekunle Mikail; Mahamad Arifin (2013)

  • The doctrine of judicial precedent plays an empirical role in the common law system, but it only has persuasive value in European countries which are practicing the civil legal system. Moreover, it has not been recognised as having a binding force in the Islamic legal system and thus each case has to be decided based on its own merits and previous decisions were merely considered as guidance for the future decision. This position is still being maintained by some countries such as Malaysia and Saudi Arabia. In Pakistan and Nigeria, however, the doctrine of judicial precedent is followed. Due to this contradiction among the Shariah legal system in various countries, as a result, a ques...

  • A_critical_study_on_Shariah_compliant_and_Shariah_based_products_in_Islamic_banking_Said Adekunle_Mahamad.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Mahamad Arifin (2013)

  • This paper aims at analyzing the concept of Shari'ah compliant and Shari'ah based products in existing Islamic banking Institutions. The paper would shed more lights on the differences between both concepts. The main argument which is premised on the notion that the products may be Shari'ah compliant but not fully Islamic is vehemently deficient due to the fact that if the product is Shari'ah compliant and is less Islamic, then it is basically contrary to proper and true concept of Shari'ah. It is incontrovertible that Shari'ah is the system of law based on the commandment of Allah and the submission to such law would permit someone to be recognized as "Muslim" A believer in Islam. Ho...

  • Historical_development_of_Islamic_venture_capital_Said.pdf.jpg
  • Journal Article


  • Authors: Rusni Hassan; Sa'id Adekunle Mikail; Muhamad Arifin (2011)

  • Venture capital is commonly defined as medium to long-term equity investment provided for unlisted companies to finance their start up, expansion, survival and change of ownership. The origin of which was traced back to mudharabah; which is commonly translated to Islamic limited partnership. The application of venture capital seems to be abandoned in Muslim world for long, while Western communities get steady development of it. Since the inception of Islamic banks for almost two decades, Islamic banks are also turning a blind eye to venture capital. In spite that venture capital is akin to Islamic bank's principle of profit and loss sharing. The first Islamic bank which was introduced...

Dr. Sa'id Adekunle Mikail
author picture
Qualification: PhD (Law), International Islamic University Malaysia (IIUM)
Fields/Area of Specialization: Shari‘ah, comparative laws and Islamic finance
Dr. Sa'id Adekunle Mikail obtained his Bachelor Degree of Shari‘ah (first class honour) from Islamic University of Madinah in Saudi Arabia, followed by Master of Comparative Laws and PhD (Law) from International Islamic University Malaysia (IIUM). His areas of specialisation include Shari‘ah, comparative laws and Islamic finance. His publications focus on Shari‘ah issues in Islamic finance, Islamic legal theory, comparative law, zakah, waqf and Islamic social finance
Showing results 1 to 17 of 17
  • 1573.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail (2021)

  • One of the basics of the regularity of the Islamic financial industry is that it is subject to many legal and regulatory protections that directly or indirectly affected the progress of its financing and investment activities. The Islamic capital market sector, especially sukuk, is one of the most affected products. However, the tradability of sukuk at the international and local levels may be hindered by differences in the legal system and jurisprudential schools of thought, which may lead to a lack of certainty and a defect in the applicable laws. There is no doubt that investing in sukuk requires providing reassurance and confidence from investors on the abundance of the necessary ...

  • The_emerging_Shariah_issues_of_the_Covid-19_pandemic_in_contemporary_Islamic_financial_applications_Said Bouheraoua_Fares_Said Adekunle.jpg.jpg
  • Research Monograph


  • Authors: Said Bouheraoua; Fares Djafri; Sa'id Adekunle Mikail (2021)

  • The outbreak of the coronavirus epidemic (COVID-19), classified by the World Health Organization as a pandemic, has led to the emergence of many challenges. It started as a health crisis and then turned into a global economic crisis that most countries could not manage or control as a result of lockdown policies and restrictions on movement and travel. This is not to mention the forms of damage that have affected the contractual obligations and rights of various contracting parties at the level of financial institutions such as banks, takaful companies and others. The challenges imposed by the coronavirus pandemic have led to a reexamination of the fiqh treatment of catastrophes. The ...

  • Unearned_wakalah_fee_in_the_takaful_industry_in_Malaysia_Sa'id Adekunle_Fares_Mahadi_Burhanuddin.jpg.jpg
  • Research Monograph


  • Authors: Sa'id Adekunle Mikail; Fares Djafri; Mahadi Ahmad; Burhanuddin Lukman (2021)

  • The issue of unearned wakalah fees (UWF) arises due to the statutory requirements in the Islamic Financial Services Act (IFSA 2013) that mandate takaful operators to refund any undue contribution with the corresponding wakaah fee in the event of surrender or termination of a takaful certificate. The relevant statutory provisions and Bank Negara Malaysia (BNM) guidelines on the valuation basis for liabilities of family and general takaful are open to more than one interpretation, and the exact definition and components of money not due are not clear. The implementation of the statutory provisions and regulatory guidelines on the refund of UWF has raised the following issues for the Ma...

  • Sustainable_financial_inclusion_a_fiqh_analysis_of_zakat_based_microfinance_scheme_Said_Salami.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Salami Saheed Adekunle (2020)

  • Sustainability has remained one of the most significant challenges facing microfinance industry in general and Islamic microfinance in particular. With the advent of Islamic microfinance and Islamic microinsurance the need for Shari'ah compliance is indispensable. Such need poses another additional challenge for Islamic microfinance practitioners. Many practitioners have argued that in practice Shari'ah compliance should be sacrificed for profitability so that Islamic microfinance industry could achieve sustainability and competitiveness in the global microfinance market. However, not a few researchers and Shari'ah scholars argued that the industry risk identity loss by trading Shari'...

  • Corporate_waqf_via_initial_public_offering_(IPO)_Mahadi_Noor_Sa'id Adekunle.jpg.jpg
  • Research Monograph


  • Authors: Mahadi Ahmad; Noor Suhaida Kasri; Sa'id Adekunle Mikail; Mohamed Ibrahim Negasi (2020)

  • The need for sustainable funding of institutions of higher learning led the Government of Malaysia to formulate its Universities Transformation Programme 2015-2025. This transformation agenda came out as the Purple Book which highlighted the need to address the funding gap that may occur in the education sector in the event of unexpected budget cuts. It called for the enhancement of income generation, endowments and waqf to achieve self-sustainability for higher learning institutions (Ministry of Higher Education Malaysia, 2016). Based on the above premise, this research explores the viability of corporate waqf via initial public offering (IPO) as an instrument to raise funds and sus...

  • Framework_for_financial_hardship_indebtedness_management_in_abandoned_housing_projects_in_Malaysia_Said_Noor_Sabar_Abideen.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Noor Suhaida Kasri; Saba' Radwan Jamal Elatrash; Abideen Adeyemi Adewale (2018)

  • This paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Shari'ah and statutory requirements. This study employs the qualitative research method using the inductive approach to analyze both primary and secondary data and sources. Data collection involved a series of semi-structured interviews with five volunteering Islamic banks and a representative of Abandoned Property Owners Association Malaysia (Victims). Statutory acts, regulatory policies, guidelines, directives and standards were also analyzed. The result indicates developer's default, underlying contracts, r...

  • Utilisation_of_zakah_and_waqf_fund_in_micro-takaful_models_in_Malaysia_Said_Ali_Salami.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Muhammad Ali Jinnah Ahmad; Salami Saheed Adekunle (2017)

  • This paper aims to investigate the utilisation of both zakah and waqf fund as external resources to ensure micro-takaful services are delivered to underserved communities in an effective and sustainable manner. It also addresses Shari'ah issues related to the zakah- and waqf-based model. The study is a qualitative-based research. It uses both focus group and content analysis approach to gather primary data and identify and interpret relevant secondary data and Shari'ah concepts in developing the zakah- and waqf-based micro-takaful model. It is discovered throughout the investigation of attributes of beneficiaries of zakah and waqf institutions as well as micro-takaful scheme that all ...

  • Zakat_al-duyun_al-masrifiyat_al-muajalat_Said Bouheraoua_Said Adekunle.pdf.jpg
  • Journal Article


  • Authors: Said Bouheraoua; Sa'id Adekunle Mikail; Riaz Ansari (2016)

  • This research examines the issue of zakah on non-current banking debts within its theoretical framework. The main problems dealt with are the conflicting contemporary juristic opinions on the issue of zakah on non-current banking debts as well as the conflicting ways that these opinions have been implemented. This makes it necessary to pinpoint the most important causes for the controversy and to identify the weightiest opinion on the matter. The study begins by defining non-current banking debts and identifying their most salient characteristics. It then undertakes an explanation of the classical scholarly controversy regarding zakah on debts which are not yet due. The authors have c...

  • Shariah_contracts_underpinning_musharakah_mutanaqisah_financing_conceptual_analysis_Said_Shahril.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Mohd Shahril Mat Rani (2016)

  • This paper examines the Shari'ah contracts applicable in musharakah mutanaqisah financing (MMF) (diminishing partnership) and possible Shari'ah issues arising from the combination of different Shari'ah contracts to effect the financing. The paper employs the qualitative research method, using textual and document analysis. It finds that the fiqh characterization of MMF by the International Islamic Fiqh Academy of the Organisation of Islamic Cooperation (IFA-OIC), which is also found in the Bank Negara Malaysia (BNM) Shariah Standard on Musyarakah, is the best contemporary approach, but it needs to be explicated. This paper identifies two major phases of MMF that are essential to attai...

  • Islamic venture capital in Malaysia development, constraints and way forward_Said_Adekunle.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Mahamad Arifin; Rusni Hassan (2014)

  • This study aims at examining the development of the Malaysian Islamic venture capital industry including government and regulatory policy initiatives for escalating the growth of the industry. It also highlights constraints and way forward for the industry. The paper employs qualitative approach focusing on secondary resources, documents, and field interview with practitioners and academia who are directly involved in the operations of Islamic venture capital in Malaysia. The study finds that policy-driven approach and liberalization facilitate the standardization of Shariah rulings of Shariah Advisory Council (SAC) and Shariah Committee (SC), which contribute to the effectiveness of ...

  • An_analysis_of_ethical_values_in_Islamic_entrepreneurship_Akram.pdf.jpg
  • Journal Article


  • Authors: Syahida Abdullah; Sa'id Adekunle Mikail (2014)

  • Entrepreneurship is an engine of growth in every society. Studies on the relationship between entrepreneurship and ethics are scanty. Thus, this research is designed to investigate ethical values embedied in entrepreneurship with a special focus on Islamic values ideal to entrepreneurship. This research finds ethical values with respect to Islamic entrepreneurship are indispensible factors as they constitute its essential element. Thus, four axioms of economic developed by Naqvi are just supporting evidence for what has deeply rooted in Islamic values and applicable to every aspects of human activities, and specifically to entrepreneurial activities.

  • The fiqh characterization of ijarah mawsufah fi al-dhimmah_Said_Adekunle.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail (2013)

  • The application of the Shari'ah principle of ijarah mawsufah fi al-dhimmah (forward lease) can be traced back to the early days of Islam. It is derived from the original contract of ijarah (lease), which has been widely used in the structuring of Islamic financial transactions to cater for various Muslim and non-Muslim needs over time. Thus, the classical books of Islamic jurisprudence have amply discussed its applications in various forms according to the prevailing circumstances. Today, ijarah mawsufah fi al-dhimmah is applied in the offering of various services in the Islamic finance industry relating to education, medical treatment, tourism, hajj and 'umrah, among others. Neverthe...

  • The_evolution_of_Islamic_venture_capital_in_Malaysia_Said Adekunle.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Sa'id Adekunle Mikail; Mahamad Arifin; Rusni Hassan (2013)

  • Islamic venture capital is a strategic tool to enhance cooperation in the Muslim world. This is because it helps form smart partnership among the members of OIC countries. Venture capital is an investment in highly risky projects in return for potential high return focusing mainly on technology. For more than a decade, the trend has shown tremendous changes; hence venture capital investment records increasing interest of the investors in other sectors such as agricultural production, medical instruments and others. Islamic venture capital has been running in parallel with the mainstream in Malaysia. There are several reasons supporting the emergence of Islamic venture capital namely, ...

  • Feasibility_of_the_application_of_the_doctrine_of_judicial_precedent_in_civil_and_Shariah_courts_Said Adekunle.pdf.jpg
  • Journal Article


  • Authors: Kyaw Hla Win; Sa'id Adekunle Mikail; Mahamad Arifin (2013)

  • The doctrine of judicial precedent plays an empirical role in the common law system, but it only has persuasive value in European countries which are practicing the civil legal system. Moreover, it has not been recognised as having a binding force in the Islamic legal system and thus each case has to be decided based on its own merits and previous decisions were merely considered as guidance for the future decision. This position is still being maintained by some countries such as Malaysia and Saudi Arabia. In Pakistan and Nigeria, however, the doctrine of judicial precedent is followed. Due to this contradiction among the Shariah legal system in various countries, as a result, a ques...

  • A_critical_study_on_Shariah_compliant_and_Shariah_based_products_in_Islamic_banking_Said Adekunle_Mahamad.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail; Mahamad Arifin (2013)

  • This paper aims at analyzing the concept of Shari'ah compliant and Shari'ah based products in existing Islamic banking Institutions. The paper would shed more lights on the differences between both concepts. The main argument which is premised on the notion that the products may be Shari'ah compliant but not fully Islamic is vehemently deficient due to the fact that if the product is Shari'ah compliant and is less Islamic, then it is basically contrary to proper and true concept of Shari'ah. It is incontrovertible that Shari'ah is the system of law based on the commandment of Allah and the submission to such law would permit someone to be recognized as "Muslim" A believer in Islam. Ho...

  • Historical_development_of_Islamic_venture_capital_Said.pdf.jpg
  • Journal Article


  • Authors: Rusni Hassan; Sa'id Adekunle Mikail; Muhamad Arifin (2011)

  • Venture capital is commonly defined as medium to long-term equity investment provided for unlisted companies to finance their start up, expansion, survival and change of ownership. The origin of which was traced back to mudharabah; which is commonly translated to Islamic limited partnership. The application of venture capital seems to be abandoned in Muslim world for long, while Western communities get steady development of it. Since the inception of Islamic banks for almost two decades, Islamic banks are also turning a blind eye to venture capital. In spite that venture capital is akin to Islamic bank's principle of profit and loss sharing. The first Islamic bank which was introduced...