Browsing by Author Abu Umar Faruq Ahmad

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  • Challenges_facing_the_development_of_takaful_industry_in_Bangladesh_and_Indonesia_Aishath.pdf.jpg
  • Journal Article

  • Challenges facing the development of takaful industry in Bangladesh and Indonesia: a review

    • Authors: Saeeda Lubaba; Abu Umar Faruq Ahmad; Aishath Muneeza (2022)

  • Takaful is the Islamic version of insurance, and the size of global takaful industry is about USD$51 billion in 2019. Limited studies have been conducted on the development of takaful sector in Bangladesh and Indonesia using a comparative approach. As such, this review aims at investigating the challenges facing the development of takaful industry in these two countries. Primary sources such as laws and regulations, and the secondary sources such as scholarly articles and books on the subject matter were reviewed to derive conclusions. This review concludes that efficiency of takaful in both countries depend on some common factors, such as having a proper and sophisticated regulatory ...
  • post-default_sukuk_restructuring_appraisal_Shariah issues_aishath et al.pdf.jpg
  • Chapter in Book

  • Post-default sukuk restructuring: an appraisal of Shari'ah issues

    • Authors: Abu Umar Faruq Ahmad; Aishath Muneeza; Mohammad Omar Farooq; Rashedul Hasan (2019)

  • Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari'ah requirements of transferring assets to Sukuk holders in asset-based Sukuk, the originator usually transfers the beneficial ownership to the issuer special purpose vehicles (SPV). However, in asset-backed Sukuk, the originator sells the underlying asset to an SPV and Sukuk holders do not have recourse to the originator in the event of defaults. Among some key unresolved Shari'ah issues in this regard is whether a change of contract necessitates entering a new contract. Other related issues that conflict with the tenets of Shari'ah are: (1) Sukuk structuri...
  • item.jpg
  • Journal Article

  • Proposing an organization framework for the Shari'ah Secretariat of Islamic banks in Bangladesh

    • 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...
  • item.jpg
  • Journal Article

  • Shariah-compliant equities and Shariah screening: need for convergence of ethical screening of stocks with Shariah screening

    • Authors: Tauhidul Islam Mustapha; Abu Umar Faruq Ahmad; Aishath Muneeza (2021)

  • This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks. This study adopts a qualitative research methodology by combining the qualitative descriptive approach and content analysis. The findings of this research suggest that there is scope to converge ethical screening of stocks with Shariah Screening as the lex loci applicable to Shariah screening is derived from Shariah, which considers ethics as part of determining its rules. The data from this study reveal several practical applications, the ultimate goal of which is to help the policymakers and stakeholders understand t...

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Browsing by Author Abu Umar Faruq Ahmad

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 1 to 4 of 4
  • Challenges_facing_the_development_of_takaful_industry_in_Bangladesh_and_Indonesia_Aishath.pdf.jpg
  • Journal Article

  • Challenges facing the development of takaful industry in Bangladesh and Indonesia: a review

    • Authors: Saeeda Lubaba; Abu Umar Faruq Ahmad; Aishath Muneeza (2022)

  • Takaful is the Islamic version of insurance, and the size of global takaful industry is about USD$51 billion in 2019. Limited studies have been conducted on the development of takaful sector in Bangladesh and Indonesia using a comparative approach. As such, this review aims at investigating the challenges facing the development of takaful industry in these two countries. Primary sources such as laws and regulations, and the secondary sources such as scholarly articles and books on the subject matter were reviewed to derive conclusions. This review concludes that efficiency of takaful in both countries depend on some common factors, such as having a proper and sophisticated regulatory ...
  • post-default_sukuk_restructuring_appraisal_Shariah issues_aishath et al.pdf.jpg
  • Chapter in Book

  • Post-default sukuk restructuring: an appraisal of Shari'ah issues

    • Authors: Abu Umar Faruq Ahmad; Aishath Muneeza; Mohammad Omar Farooq; Rashedul Hasan (2019)

  • Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari'ah requirements of transferring assets to Sukuk holders in asset-based Sukuk, the originator usually transfers the beneficial ownership to the issuer special purpose vehicles (SPV). However, in asset-backed Sukuk, the originator sells the underlying asset to an SPV and Sukuk holders do not have recourse to the originator in the event of defaults. Among some key unresolved Shari'ah issues in this regard is whether a change of contract necessitates entering a new contract. Other related issues that conflict with the tenets of Shari'ah are: (1) Sukuk structuri...
  • item.jpg
  • Journal Article

  • Proposing an organization framework for the Shari'ah Secretariat of Islamic banks in Bangladesh

    • 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...
  • item.jpg
  • Journal Article

  • Shariah-compliant equities and Shariah screening: need for convergence of ethical screening of stocks with Shariah screening

    • Authors: Tauhidul Islam Mustapha; Abu Umar Faruq Ahmad; Aishath Muneeza (2021)

  • This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks. This study adopts a qualitative research methodology by combining the qualitative descriptive approach and content analysis. The findings of this research suggest that there is scope to converge ethical screening of stocks with Shariah Screening as the lex loci applicable to Shariah screening is derived from Shariah, which considers ethics as part of determining its rules. The data from this study reveal several practical applications, the ultimate goal of which is to help the policymakers and stakeholders understand t...