Browsing by Title

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Showing results 438 to 457 of 1488
  • item.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Algahtani, Ibrahim (2008)

  • Using a portfolio balance approach, this paper makes an initial attempt to examine the importance of international factors, such as foreign interest rate and nominal effective exchange rate, on the stability of long-run money demand function in an open developing economy with free capital movement. Saudi Arabia is taken as a case study over the period (1986-2004). The method applied is the "Long Run Structural Modelling" (LRSM) (Pesaran and Shin, Econometric Reviews, 2002) which has tried to address the atheoretical nature of a lot of conventional cointegrating estimates. The stability of the functions has also been tested by CUSUM and CUSUMSQ. Our findings tend to suggest that the fo...

  • etatisme versus market driven_rodney.pdf.jpg
  • Chapter in Book


  • Authors: Wilson, Rodney (2012)

  • The world's largest Islamic banks in terms of assets are based in the Persian Gulf region, Bank Melli of Iran being first ranked with assets worth over $57 bilion and Al Rajhi Bank of Saudi Arabia being second, with assets worth over $45 billion. Yet these two banks operate in very different jurisdiction, with all banks being nominally Islamic in Iran, whereas on the Arab side of the Gulf Islamic banks compete with conventional banks. The aim here is to examine the contrasting approaches taken by Iran and its Guld Arab neighbors to Islamic banking.

  • Ethical_behavior_trustworthiness_stock_market_growth_nexus_adam_mansor_abbas.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2015)

  • While formal institutional quality has been used to explain the finance-growth nexus, the role of social capital has not been fully addressed. The proposition of “better finance, more growth” is important amidst concerns over the erosion of ethics and trust in finance in the aftermath of the 2007/2008 global financial crisis. Using threshold estimation technique, this study examines whether the growth effect of stock market development differs according to the distinct levels of ethical behavior and trustworthiness in a cross-section of 73 jurisdictions during the post-crisis period. The results demonstrate that the impact of stock market liquidity on gross domestic product (GDP) and ...

  • Ethical_choice_Islamic_banks_incorporating_Al_Ghazali_ethical_philosophy_Shinaj.pdf.jpg
  • PhD


  • Authors: Shamsudheen, Shinaj Valangattil (2018)

  • While ample emphasis has been given to the juristic (fiqh) aspects of Shariah compliance in Islamic banking and finance, relatively little has been attempted to explore its ethical dimensions (akhlaq) in the compliance parameters. Further, Shariah compliance has been product centric rather than people-centric. This is evident in view of recurring unprincipled events reported in the Islamic banking and finance industry where its ethical standing is under public scrutiny. Given this undesirable circumstance, this study intends to examine the factors determining decision-making behaviour in Islamic banking related to ethical issues as defined by the Ferrell and Gresham (1985) contingency...

  • Ethical_investing_and_capital_structure_Mansor.pdf.jpg
  • Journal Article


  • Authors: Paresh Kumar Narayan; Dinh Hoang Bach Phan; Guangqiang Liu; Mansor H. Ibrahim (2021)

  • We test the relevance of the trade-off, pecking order, and market timing theories of capital structure from the point of view of a stock's religious orientation. Using a unique sample of Islamic stocks, we discover the leverage speed of adjustment (SOA) to be faster compared to that in the literature on conventional stocks, consistent with trade-off theory. We hypothesize that this result is due to the risk-sharing principal of Islamic investments that substantially reduces market imperfections. The inclusion of variables belonging to other theories of capital structure does not change the SOA, implying the importance of the trade-off theory.

  • ethical_investments_financial_performance_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhary Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This paper examines the financial performance of ethical funds in different regions and concludes that there is a cost attached to ethical investing. An analysis of 964 mutual funds comprising of Socially responsible funds (SRFs) and the Shariah-compliant equity funds (SCFs) suggests that: a) except for global funds, both types of funds underperform in the market, b) both types of funds are preferred for investment in growth and momentum stocks, c) SRFs are preferred for small capitalized stocks whereas SCFs do not follow any specific style or investment strategy, d) unlike SRFs, SCFs do not provide a safe haven for investors during crises. These findings are probably due to the lack ...

  • ethics_governance_time_reflection_syed_abdul_hamid_september_2011.pdf.jpg
  • Industry Article


  • Authors: Aljunid, Syed Abdul Hamid (2011)

  • Ethics and ethical judgments are often referred to in day-to-day conversations but rarely unmistakably understood in terms of how they support our position when making decisions or choices that usually involve conflicting interests, benefits and the rights or well-being of others. Professionals have to consider their clients and leaders have to deal with the direction of the organization and the often conflicting claims of shareholders and stakeholders. We as citizens have to be guided by the law so that our self interests do not go against that of others and cause hardship or harm in the process. Ethics are relevant in social or interpersonal interactions. We can't escape having to d...

  • evolution_of_waqf_practices_magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Magda Ismail Abdel Mohsin (2019)

  • Waqf (plural awqaf) is a continuous charitable endowment given away for the goodwill. Once created, it must stay permanently to finance different needs for the next generation. Waqf can be defined as "the confinement of a property (movable or immovable) by a founder(s) and the dedication of its usufruct in perpetuity for the wellbeing of societies for generations to come". The inherent perpetuity of waqf gives its flexibility to accommodate the arising needs of Muslim societies throughout centuries. As such, it is seen as an institution with an immense potential for economic and social reform (MIFC, 2015).

  • item.jpg
  • Master


  • Authors: Ali, Md Hakim (2017)

  • After the global financial crisis, liquidity management has been a great concern to both Islamic and conventional banks, as liquidity management is linked to the bank's profitability and overall sustainability of financial system. While shortage of liquidity has taken centre-stage in Basel 3 reforms as a consequence of the US subprime loan crises, the problem of excess liquidity in Islamic banking remains unresolved in view of the lack of product offerings like medium term sukuk that should give relatively higher yields than short-term Islamic securities ...

  • chapter_6_examination_of_the_shariah_committee_role_in_Islamic_financial_institutions_Zulkarnain_Shamsher_Eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2015)

  • The system of corporate control, effective and efficient governance that is consistent with Shariah guidance has been an important agenda for Islamic Financial Institutions since the existence of Islamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. For example, the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (CAGR) of 17.4% between 2009 and 2014 (Ernst & Young, 2014). The well-functioning Islamic Finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with Shariah guidance....

  • exchange_rate_interest_rate_thailand_look_traditional_revisionist_views_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2009)

  • In this paper, we analyze the traditional-revisionist debate on whether high interest rate can defend the downfall in currency values by allowing for asymmetric responses of exchange to positive and negative changes in the interest rate using Thailand data. Applying an EGARCH specification with long spam of data, we find evidence in support of the revisionist view. Namely, while the decline in the interest rate may lead to currecy depreciation, we find no evidence that high interest rate appreciates the currency. Instead, albeit small in magnitude, high interest rate tends to lead further depreciation. Thus, the policy of high interest rate to defend the currency can be futile and cos...

  • Explaining intermediation costs of Islamic banks in OIC countries_mansor.jpg.jpg
  • Chapter in Book


  • Authors: Abdul Kader Malim, Nurhafiza; Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The rapid growth of Islamic finance, especially Islamic banking, and its perceived resiliency during the global financial crisis have been key features in recent Islamic finance literature. The Islamic banking business model has also started to attract empirical attention from economists as to whether it can instil the much needed stability into the financial system. While some studies have offered evidence that Islamic banks are relatively more stable and resilient than their conventional counterparts (Cihak and Hesse, 2010; Hasan and Dridi, 2010), there still remain several concerns over whether Islamic banks can play a distinct role in the stability of the financial system and can ...

  • An_exploratory_study_musharakah_SRI_sukuk_development_waqf_properties_assets_Malaysia_Zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Zain, Nor Syahirah; Muhamad Sori, Zulkarnain (2020)

  • This study aims to explore a sustainable and responsible investment (SRI) sukuk model based on musharakah that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia. This includes proposing and designing a potential SRI sukuk model and seeking the opinion of subject-matter experts and industry practitioners on the model, its attractiveness to investors and its feasibility to implement in Malaysia. The study adopts desk research and semi-structured interview as its methodology. A desk research is where a detailed critical review and analysis of past literature from reports, journals, framework, books and practices are undertaken. To establ...

  • item.jpg
  • Master


  • Authors: Mohamad Zain, Nor Syahirah (2017)

  • There is an urgency to explore and structure innovative financial mechanisms like SRI sukuk to develop waqf properties and assets because if this is delayed, many opportunities in enhancing social welfare and economic development will be missed. SRI sukuk can be innovatively structured to support financing the development waqf assets into viable income-generating assets that can help with social programmes, and at the same time, maximise the potential of sukuk in achieving the objectives (maqasid) of Islamic finance. The study aims to explore SRI sukuk models that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia ...

  • Exploratory _study_possibility_replacing_tawarruq_based_Islamic_banking_products_using other_alternatives_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ahmad, Zaki; Zahir, Faathih; Usman, Ahmed Mohamud; Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Tawarruq which is also known as commodity murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as "tawarruq banks" and some even call tawarruq as the "magic lamp" of the industry. Shariah scholars have criticised this frequent usage of tawarruq in Islamic banking industry of Malaysia, while the practitioners have replied by saying that if tawarruq is a shariah approved concept, then what is wrong with the usage of it? However, from the shariah perspective, the issue here is not about the shariah compliance of tawarruq transactions per se. It is about t...

  • exploring_family_takafuls_evolving_landscape_ezamshah_lahsasna_july_2010.pdf.jpg
  • Industry Article


  • Authors: Lahsasna, Ahcene; Ismail, Ezamshah (2010-07-01)

  • As the appetite for family takaful grows, its underwriting principles and conventions are facing closer scrutiny. Mr Ezamshah Ismail and Dr Ahcene Lahsasna, both council members of the Shariah Advisory Council of the RGA Global Reinsurance Co Ltd Labuan Branch Retakaful Window, examine family takaful’s strengths, and how it can serve its core market while continuing to evolve to serve a broader constituency.

  • exploring_integrated_science.pdf.jpg
  • Book


  • Authors: Baaquie, Belal E.; Willeboordse, Frederick H. (2010)

  • Why is rubber elastic? Why are leaves green? Why can a gecko climb a wall? Answering these and a myriad of other puzzles of nature, Exploring Integrated Science shows how the simplest questions that arise from our daily experiences can lead us through a chain of reasoning that explains some of the most fascinating principles of science. Written in a non-technical entertaining style to engage those without a science background while maintaining the academic rigor required by more advanced readers, the book follows a unique format that enhances the learning process. Each chapter begins with a pertinent question that forms the basis for explaining a scientific principle. Step by step, th...

  • Exploring_portfolio_diversification_opportunities_through_venture_capital_financing_yusuf_et_al.pdf.jpg
  • Journal Article


  • Authors: Jaffar, Yusuf; Dewandaru, Ginanjar; Mohammed Masih, Abul Mansur (2018)

  • Islamic financial institutions are being pressured by critics to offer profit and loss sharing (PLS) financing such as, venture capital financing, for the purpose of entrepreneurial development aligned to the principle of equity risk sharing. Our study aims to link PLS investments with portfolio optimization opportunities for the Islamic asset managers. Using portfolio analysis with dynamic conditional correlation, Markov switching, and maximal overlap discrete wavelet transformation, our findings tend to indicate that there is indeed a portfolio optimization opportunity in investment universe for the fund managers who invested in PLS investments in the context of venture capital asse...

  • Exploring the invisible universe.pdf.jpg
  • Book


  • Authors: Baaquie, Belal E.; Willeboordse, Frederick H. (2015)

  • Exploring the Invisible Universe covers the gamut of topics in advanced modern physics and provides extensive and well substantiated answers to these questions and many more. Discussed in a non-technical, yet also non-trivial manner, are topics dominated by invisible things - such as Black Holes and Superstrings as well as Fields, Gravitation, the Standard Model, Cosmology, Relativity, the Origin of Elements, Stars and Planetary Evolution, and more. Just giving the answer, as so many books do, is really not telling anything at all. To truly answer the "why" questions of nature, one needs to follow the chain of reasoning that scientists have used to come to the conclusions they have.

  • item.jpg
  • Journal Article


  • Authors: Alam, Md. Kausar; Ahmad, Abu Umar Faruq; Muneeza, Aishath (2020)

  • External Shari'ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Shari'ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Shari'ah compliance. This study principally aims to examine the relevancy of ESA and review committee in enhancing the level of Shari'ah compliance quality and accountability of IBs in Bangladesh. The study examines data from 17 respondents obtained via semistructured interviews and secondary sources in library. This study establishes that Shari'ah officers of IBs in Bangladesh are unable to perform audit functions properly which indicates the limitations of curr...

Browsing by Title

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 438 to 457 of 1488
  • item.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Algahtani, Ibrahim (2008)

  • Using a portfolio balance approach, this paper makes an initial attempt to examine the importance of international factors, such as foreign interest rate and nominal effective exchange rate, on the stability of long-run money demand function in an open developing economy with free capital movement. Saudi Arabia is taken as a case study over the period (1986-2004). The method applied is the "Long Run Structural Modelling" (LRSM) (Pesaran and Shin, Econometric Reviews, 2002) which has tried to address the atheoretical nature of a lot of conventional cointegrating estimates. The stability of the functions has also been tested by CUSUM and CUSUMSQ. Our findings tend to suggest that the fo...

  • etatisme versus market driven_rodney.pdf.jpg
  • Chapter in Book


  • Authors: Wilson, Rodney (2012)

  • The world's largest Islamic banks in terms of assets are based in the Persian Gulf region, Bank Melli of Iran being first ranked with assets worth over $57 bilion and Al Rajhi Bank of Saudi Arabia being second, with assets worth over $45 billion. Yet these two banks operate in very different jurisdiction, with all banks being nominally Islamic in Iran, whereas on the Arab side of the Gulf Islamic banks compete with conventional banks. The aim here is to examine the contrasting approaches taken by Iran and its Guld Arab neighbors to Islamic banking.

  • Ethical_behavior_trustworthiness_stock_market_growth_nexus_adam_mansor_abbas.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2015)

  • While formal institutional quality has been used to explain the finance-growth nexus, the role of social capital has not been fully addressed. The proposition of “better finance, more growth” is important amidst concerns over the erosion of ethics and trust in finance in the aftermath of the 2007/2008 global financial crisis. Using threshold estimation technique, this study examines whether the growth effect of stock market development differs according to the distinct levels of ethical behavior and trustworthiness in a cross-section of 73 jurisdictions during the post-crisis period. The results demonstrate that the impact of stock market liquidity on gross domestic product (GDP) and ...

  • Ethical_choice_Islamic_banks_incorporating_Al_Ghazali_ethical_philosophy_Shinaj.pdf.jpg
  • PhD


  • Authors: Shamsudheen, Shinaj Valangattil (2018)

  • While ample emphasis has been given to the juristic (fiqh) aspects of Shariah compliance in Islamic banking and finance, relatively little has been attempted to explore its ethical dimensions (akhlaq) in the compliance parameters. Further, Shariah compliance has been product centric rather than people-centric. This is evident in view of recurring unprincipled events reported in the Islamic banking and finance industry where its ethical standing is under public scrutiny. Given this undesirable circumstance, this study intends to examine the factors determining decision-making behaviour in Islamic banking related to ethical issues as defined by the Ferrell and Gresham (1985) contingency...

  • Ethical_investing_and_capital_structure_Mansor.pdf.jpg
  • Journal Article


  • Authors: Paresh Kumar Narayan; Dinh Hoang Bach Phan; Guangqiang Liu; Mansor H. Ibrahim (2021)

  • We test the relevance of the trade-off, pecking order, and market timing theories of capital structure from the point of view of a stock's religious orientation. Using a unique sample of Islamic stocks, we discover the leverage speed of adjustment (SOA) to be faster compared to that in the literature on conventional stocks, consistent with trade-off theory. We hypothesize that this result is due to the risk-sharing principal of Islamic investments that substantially reduces market imperfections. The inclusion of variables belonging to other theories of capital structure does not change the SOA, implying the importance of the trade-off theory.

  • ethical_investments_financial_performance_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhary Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This paper examines the financial performance of ethical funds in different regions and concludes that there is a cost attached to ethical investing. An analysis of 964 mutual funds comprising of Socially responsible funds (SRFs) and the Shariah-compliant equity funds (SCFs) suggests that: a) except for global funds, both types of funds underperform in the market, b) both types of funds are preferred for investment in growth and momentum stocks, c) SRFs are preferred for small capitalized stocks whereas SCFs do not follow any specific style or investment strategy, d) unlike SRFs, SCFs do not provide a safe haven for investors during crises. These findings are probably due to the lack ...

  • ethics_governance_time_reflection_syed_abdul_hamid_september_2011.pdf.jpg
  • Industry Article


  • Authors: Aljunid, Syed Abdul Hamid (2011)

  • Ethics and ethical judgments are often referred to in day-to-day conversations but rarely unmistakably understood in terms of how they support our position when making decisions or choices that usually involve conflicting interests, benefits and the rights or well-being of others. Professionals have to consider their clients and leaders have to deal with the direction of the organization and the often conflicting claims of shareholders and stakeholders. We as citizens have to be guided by the law so that our self interests do not go against that of others and cause hardship or harm in the process. Ethics are relevant in social or interpersonal interactions. We can't escape having to d...

  • evolution_of_waqf_practices_magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Magda Ismail Abdel Mohsin (2019)

  • Waqf (plural awqaf) is a continuous charitable endowment given away for the goodwill. Once created, it must stay permanently to finance different needs for the next generation. Waqf can be defined as "the confinement of a property (movable or immovable) by a founder(s) and the dedication of its usufruct in perpetuity for the wellbeing of societies for generations to come". The inherent perpetuity of waqf gives its flexibility to accommodate the arising needs of Muslim societies throughout centuries. As such, it is seen as an institution with an immense potential for economic and social reform (MIFC, 2015).

  • item.jpg
  • Master


  • Authors: Ali, Md Hakim (2017)

  • After the global financial crisis, liquidity management has been a great concern to both Islamic and conventional banks, as liquidity management is linked to the bank's profitability and overall sustainability of financial system. While shortage of liquidity has taken centre-stage in Basel 3 reforms as a consequence of the US subprime loan crises, the problem of excess liquidity in Islamic banking remains unresolved in view of the lack of product offerings like medium term sukuk that should give relatively higher yields than short-term Islamic securities ...

  • chapter_6_examination_of_the_shariah_committee_role_in_Islamic_financial_institutions_Zulkarnain_Shamsher_Eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2015)

  • The system of corporate control, effective and efficient governance that is consistent with Shariah guidance has been an important agenda for Islamic Financial Institutions since the existence of Islamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. For example, the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (CAGR) of 17.4% between 2009 and 2014 (Ernst & Young, 2014). The well-functioning Islamic Finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with Shariah guidance....

  • exchange_rate_interest_rate_thailand_look_traditional_revisionist_views_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2009)

  • In this paper, we analyze the traditional-revisionist debate on whether high interest rate can defend the downfall in currency values by allowing for asymmetric responses of exchange to positive and negative changes in the interest rate using Thailand data. Applying an EGARCH specification with long spam of data, we find evidence in support of the revisionist view. Namely, while the decline in the interest rate may lead to currecy depreciation, we find no evidence that high interest rate appreciates the currency. Instead, albeit small in magnitude, high interest rate tends to lead further depreciation. Thus, the policy of high interest rate to defend the currency can be futile and cos...

  • Explaining intermediation costs of Islamic banks in OIC countries_mansor.jpg.jpg
  • Chapter in Book


  • Authors: Abdul Kader Malim, Nurhafiza; Ibrahim, Mansor H.; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The rapid growth of Islamic finance, especially Islamic banking, and its perceived resiliency during the global financial crisis have been key features in recent Islamic finance literature. The Islamic banking business model has also started to attract empirical attention from economists as to whether it can instil the much needed stability into the financial system. While some studies have offered evidence that Islamic banks are relatively more stable and resilient than their conventional counterparts (Cihak and Hesse, 2010; Hasan and Dridi, 2010), there still remain several concerns over whether Islamic banks can play a distinct role in the stability of the financial system and can ...

  • An_exploratory_study_musharakah_SRI_sukuk_development_waqf_properties_assets_Malaysia_Zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Zain, Nor Syahirah; Muhamad Sori, Zulkarnain (2020)

  • This study aims to explore a sustainable and responsible investment (SRI) sukuk model based on musharakah that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia. This includes proposing and designing a potential SRI sukuk model and seeking the opinion of subject-matter experts and industry practitioners on the model, its attractiveness to investors and its feasibility to implement in Malaysia. The study adopts desk research and semi-structured interview as its methodology. A desk research is where a detailed critical review and analysis of past literature from reports, journals, framework, books and practices are undertaken. To establ...

  • item.jpg
  • Master


  • Authors: Mohamad Zain, Nor Syahirah (2017)

  • There is an urgency to explore and structure innovative financial mechanisms like SRI sukuk to develop waqf properties and assets because if this is delayed, many opportunities in enhancing social welfare and economic development will be missed. SRI sukuk can be innovatively structured to support financing the development waqf assets into viable income-generating assets that can help with social programmes, and at the same time, maximise the potential of sukuk in achieving the objectives (maqasid) of Islamic finance. The study aims to explore SRI sukuk models that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia ...

  • Exploratory _study_possibility_replacing_tawarruq_based_Islamic_banking_products_using other_alternatives_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ahmad, Zaki; Zahir, Faathih; Usman, Ahmed Mohamud; Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Tawarruq which is also known as commodity murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as "tawarruq banks" and some even call tawarruq as the "magic lamp" of the industry. Shariah scholars have criticised this frequent usage of tawarruq in Islamic banking industry of Malaysia, while the practitioners have replied by saying that if tawarruq is a shariah approved concept, then what is wrong with the usage of it? However, from the shariah perspective, the issue here is not about the shariah compliance of tawarruq transactions per se. It is about t...

  • exploring_family_takafuls_evolving_landscape_ezamshah_lahsasna_july_2010.pdf.jpg
  • Industry Article


  • Authors: Lahsasna, Ahcene; Ismail, Ezamshah (2010-07-01)

  • As the appetite for family takaful grows, its underwriting principles and conventions are facing closer scrutiny. Mr Ezamshah Ismail and Dr Ahcene Lahsasna, both council members of the Shariah Advisory Council of the RGA Global Reinsurance Co Ltd Labuan Branch Retakaful Window, examine family takaful’s strengths, and how it can serve its core market while continuing to evolve to serve a broader constituency.

  • exploring_integrated_science.pdf.jpg
  • Book


  • Authors: Baaquie, Belal E.; Willeboordse, Frederick H. (2010)

  • Why is rubber elastic? Why are leaves green? Why can a gecko climb a wall? Answering these and a myriad of other puzzles of nature, Exploring Integrated Science shows how the simplest questions that arise from our daily experiences can lead us through a chain of reasoning that explains some of the most fascinating principles of science. Written in a non-technical entertaining style to engage those without a science background while maintaining the academic rigor required by more advanced readers, the book follows a unique format that enhances the learning process. Each chapter begins with a pertinent question that forms the basis for explaining a scientific principle. Step by step, th...

  • Exploring_portfolio_diversification_opportunities_through_venture_capital_financing_yusuf_et_al.pdf.jpg
  • Journal Article


  • Authors: Jaffar, Yusuf; Dewandaru, Ginanjar; Mohammed Masih, Abul Mansur (2018)

  • Islamic financial institutions are being pressured by critics to offer profit and loss sharing (PLS) financing such as, venture capital financing, for the purpose of entrepreneurial development aligned to the principle of equity risk sharing. Our study aims to link PLS investments with portfolio optimization opportunities for the Islamic asset managers. Using portfolio analysis with dynamic conditional correlation, Markov switching, and maximal overlap discrete wavelet transformation, our findings tend to indicate that there is indeed a portfolio optimization opportunity in investment universe for the fund managers who invested in PLS investments in the context of venture capital asse...

  • Exploring the invisible universe.pdf.jpg
  • Book


  • Authors: Baaquie, Belal E.; Willeboordse, Frederick H. (2015)

  • Exploring the Invisible Universe covers the gamut of topics in advanced modern physics and provides extensive and well substantiated answers to these questions and many more. Discussed in a non-technical, yet also non-trivial manner, are topics dominated by invisible things - such as Black Holes and Superstrings as well as Fields, Gravitation, the Standard Model, Cosmology, Relativity, the Origin of Elements, Stars and Planetary Evolution, and more. Just giving the answer, as so many books do, is really not telling anything at all. To truly answer the "why" questions of nature, one needs to follow the chain of reasoning that scientists have used to come to the conclusions they have.

  • item.jpg
  • Journal Article


  • Authors: Alam, Md. Kausar; Ahmad, Abu Umar Faruq; Muneeza, Aishath (2020)

  • External Shari'ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Shari'ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Shari'ah compliance. This study principally aims to examine the relevancy of ESA and review committee in enhancing the level of Shari'ah compliance quality and accountability of IBs in Bangladesh. The study examines data from 17 respondents obtained via semistructured interviews and secondary sources in library. This study establishes that Shari'ah officers of IBs in Bangladesh are unable to perform audit functions properly which indicates the limitations of curr...