Industry Article : [143]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 143
  • Zakat_women_from_receiver_to_givers_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2021)

  • Zakat is the third pillar of Islam. Zakat received from eligible persons is paid to the legal recipients of it, as mentioned in the Qu'ran (9:60). The legal recipients of zakat are of eight categories and there is no priority given to a specific gender. As long as the person falls within any category of the 'legal recipient' irrespective of gender, the person is eligible to receive zakat. Against this backdrop, this article focuses on how zakat could be used to empower women who are eligible to receive it.

  • Maldives_Islamic_Bank_announces_dividend_for_2020_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2021)

  • Maldives Islamic Bank has announced via a press release dated the 26th April 2021 that its board of directors, via the board resolution on the 25th April 2021, has recommended a cash dividend of MVR27.56 million (US$1.78 million) equivalent to MVR1.23 (7.94 US cents) per ordinary share for the year ended the 31st December 2020, subject to the final approval of shareholders at its forthcoming annual general meeting.

  • Gender_diversity_corporate_boards_Malaysia_Syed_Hamid.pdf.jpg
  • Industry Article


  • Authors: Aljunid, Syed Abdul Hamid (2020)

  • The journey of gender inclusion in Malaysia began in 2004 when the government pushed for 30% of decision making positions in the public sector to be filled by women. This was achieved in 2010. In 2011 the Securities Commission of Malaysia (SC) in its Corporate Governance Blueprint encouraged listed companies to develop gender diversity policies and to disclose its implementation toward achieving 30% target of women in their boards by 2015. However, this target was not achieved because of a number of factors, most important among them was that gender inclusion was only a recommendation and not a practice to be complied by listed companies. Besides, there was limited supply of women who...

  • Pitfalls_dual_banking_system_Saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2020)

  • Islamic banking institutions are established to provide an alternative financing arrangement that uses trading (al-bay) as opposed to usury in their business. The banking modality however is still based on the deposit-taking function where deposit funds are used by banks to make loans. Deposit funds are in essence loans acquired from depositors who can make withdrawal on call, thus bank faces withdrawal risk and also potential bank run under economic shocks.

  • ISRA_Bloomberg_quarterly_sukuk_review_Q3_2014_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Hussin, Nur Najihah (2014)

  • A summary of some Q3 2014 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Bumi Armada Capital Sdn Bhd, Bumitama Agri Ltd, Hong Kong Sukuk 2014 Limited, Perusahaan Penerbit SBSN Indonesia III, and Perbadanan Tabung Pendidikan Tinggi Nasional.

  • Shariah_perspective_gold_Fairooz.pdf.jpg
  • Industry Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • The Quran confirms that gold as a currency is desired by all of mankind due to its inherent nature of purchasing power and store of value that enables mankind to gain ownership. Al-Razi in his commentary on Chapter Ali-Imran, verse 14 stated that, "the owner of gold and silver are the owner of everything." Recently, there has been an increasing demand for gold as it continues to display its positive stable qualities that qualifies it as a risk management tool, particularly during adverse financial markets scenarios. According to the latest Gold Demand Trends annual report from the World Gold Council (WGC), gold demand in Q4 2014 increased by 6% as compared to that in Q4 2013. In addit...

  • ISRA_Bloomberg_quarterly_sukuk_review_Q2_2015_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Pg. Sulaiman, Ak. Muhd. Fahmi (2015)

  • A summary of some Q2 2015 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Hong Kong Sukuk 2015 Ltd, Jambatan Kedua Sdn Bhd, Garuda Indonesia Global Sukuk Limited, Noor Sukuk Company Ltd, and Perusahaan Penerbit SBSN Indonesia III.

  • Power_alleviating_poverty_Magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2020)

  • The recent statistical data on poverty shows that most of the people who live below the poverty line are found in Muslim countries. For example, the total population who are living below poverty line in Algeria is 25%, in Egypt 25.2%, in Bangladesh 26%, in Syria 35.2%, in Afghanistan 35.8%, in Pakistan 36.3%, in Nigeria 46%, in Sudan 46.5%, in Chad 46.7%, in Senegal 46.7%, in Yemen 54% and in Somalia 73%. Some scholars relate this poverty to the oppression, humiliation and bad policies which had been imposed in almost all Muslim countries during colonization and have continued up to the present time. Others relate this to the incompetence and the corruption on the part of their govern...

  • prosperous_year_Islamic_capital_market_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • The Maldives is a small island nation with a 100% Muslim population. The country witnessed the first form of Islamic finance with the incorporation of Amana Takaful Maldives in 2003 and the first fully-fledged Islamic bank was established in 2011. As the Maldives marked the 15th anniversary of Islamic finance in the country, it gave the opportunity for the citizens of the country to appreciate the industry and widen its scope to tap into the halal industry via Islamic tourism and halal certification.

  • it_is_time_zakat_organizations_India_press_zakat_activation_button_provide_economic_social_relief_COVID-19_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • COVID-19 began as a health crisis and now has led to an economic crisis. There is a sudden surge in the number of poor and needy who has become unemployed over night without any prior warning and who has no way to find an alternative work as the whole country is locked down to protect from widespread of the disease in the local communities. This is the situation in the whole world today and India is no exception to this. As Purohit in this April 2020 has reported in Aljazeera: millions in underdeveloped regions face penury and deprivation as economic activity grinds to a halt due to lockdown. An example to further describe this issue at an individual is described by Purohit as follows...

  • time_make_hay_future_bright_sunny_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2015)

  • Maldives is a famous tourist destination that is unique not only geographically, but it is also a 100% Muslim country that has a homogenous language and culture across the whole country that consists of 1,190 small islands. Though the economy and the financial landscape of the country is predominated by conventional financing methods and ideas, since the formation of the first Islamic bank of the country, Maldives Islamic Bank in 2011, the development of Islamic finance has grown exponentially. Since then, the country has witnessed a rapid and remarkable growth in Islamic finance that is worth studying. The year 2015 can be considered as a significant year that has brought the import...

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

  • zakat_funds_moratorium_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • On the 22nd April 2020, the Ministry of Islamic Affairs of the Republic of Maldives announced that MVR1 million (US$63,895.8) will be allocated from Zakat funds to be given to the needy and poor aff ected by COVID-19. According to the World Bank, the Maldives is a middle-income country with GDP per capita of US$10,331 (2018). The Ministry of Gender and Family will receive the MVR1 million to help those affected. Before this, about MVR3 million (US$191,687) was spent by the Ministry of Islamic Affairs for Maldivians stranded in other countries due to lockdowns.

  • 2nd_maldives_Islamic_banking_finance_conference_emphasizes_importance_establishing_Islamic_center_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2015)

  • The 2nd Maldives Islamic Banking and Finance (MIBFI) Conference has acted as a forum where the Islamic banking and finance fraternity converge to discuss a plethora of issues. While the local players took center stage, the participation of foreign delegates complemented the Maldivian participants in engaging one another in discussions relating to the future prospects of the Islamic banking and finance industry in Maldives and beyond. This year's theme of the conference was 'Creating a center of Islamic Finance'.

  • oversubscription_MIB_shares_HDFC_issues_third_corporate_sukuk_aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2019)

  • Maldives Islamic Bank (MIB) has announced that its IPO of shares was successfully oversubscribed. A total of 6.98 million shares - 31% of the total number of shares - were open for the public and the price per share was MVR35 (US$2.24) of which the total will amount to MVR244.13 million (US$15.61 million). At the moment, the board of MIB is enacting a regulation to distribute shares to shareholders in a fair manner, giving preference to retail investors in accordance to what was mentioned in the prospectus.

  • Islamic_microfinance_scheme_Maldives_faseyhamadadhu_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • Though there are seven commercial banks operating in the country, there is no financial institution that is specialized in Islamic microfinance. However, funds received as foreign aid have been disbursed through the Bank of Maldives (BoM), the national bank as it is required by law to disburse such funds through a bank. The starting point that led to the formal existence of microfinance in the country is the enactment of the Small and Medium Enterprises (SME) Act (Law No. 6/2013) in 2013. The objective of this law was to help reduce poverty and related vulnerabilities as well as making the sector broad-based, innovative, resilient and internationally competitive. The enactment of this...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 143

Industry Article : [143]

Follow this collection to receive daily e-mail notification of new additions
Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 143
  • Zakat_women_from_receiver_to_givers_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2021)

  • Zakat is the third pillar of Islam. Zakat received from eligible persons is paid to the legal recipients of it, as mentioned in the Qu'ran (9:60). The legal recipients of zakat are of eight categories and there is no priority given to a specific gender. As long as the person falls within any category of the 'legal recipient' irrespective of gender, the person is eligible to receive zakat. Against this backdrop, this article focuses on how zakat could be used to empower women who are eligible to receive it.

  • Maldives_Islamic_Bank_announces_dividend_for_2020_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2021)

  • Maldives Islamic Bank has announced via a press release dated the 26th April 2021 that its board of directors, via the board resolution on the 25th April 2021, has recommended a cash dividend of MVR27.56 million (US$1.78 million) equivalent to MVR1.23 (7.94 US cents) per ordinary share for the year ended the 31st December 2020, subject to the final approval of shareholders at its forthcoming annual general meeting.

  • Gender_diversity_corporate_boards_Malaysia_Syed_Hamid.pdf.jpg
  • Industry Article


  • Authors: Aljunid, Syed Abdul Hamid (2020)

  • The journey of gender inclusion in Malaysia began in 2004 when the government pushed for 30% of decision making positions in the public sector to be filled by women. This was achieved in 2010. In 2011 the Securities Commission of Malaysia (SC) in its Corporate Governance Blueprint encouraged listed companies to develop gender diversity policies and to disclose its implementation toward achieving 30% target of women in their boards by 2015. However, this target was not achieved because of a number of factors, most important among them was that gender inclusion was only a recommendation and not a practice to be complied by listed companies. Besides, there was limited supply of women who...

  • Pitfalls_dual_banking_system_Saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2020)

  • Islamic banking institutions are established to provide an alternative financing arrangement that uses trading (al-bay) as opposed to usury in their business. The banking modality however is still based on the deposit-taking function where deposit funds are used by banks to make loans. Deposit funds are in essence loans acquired from depositors who can make withdrawal on call, thus bank faces withdrawal risk and also potential bank run under economic shocks.

  • ISRA_Bloomberg_quarterly_sukuk_review_Q3_2014_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Hussin, Nur Najihah (2014)

  • A summary of some Q3 2014 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Bumi Armada Capital Sdn Bhd, Bumitama Agri Ltd, Hong Kong Sukuk 2014 Limited, Perusahaan Penerbit SBSN Indonesia III, and Perbadanan Tabung Pendidikan Tinggi Nasional.

  • Shariah_perspective_gold_Fairooz.pdf.jpg
  • Industry Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • The Quran confirms that gold as a currency is desired by all of mankind due to its inherent nature of purchasing power and store of value that enables mankind to gain ownership. Al-Razi in his commentary on Chapter Ali-Imran, verse 14 stated that, "the owner of gold and silver are the owner of everything." Recently, there has been an increasing demand for gold as it continues to display its positive stable qualities that qualifies it as a risk management tool, particularly during adverse financial markets scenarios. According to the latest Gold Demand Trends annual report from the World Gold Council (WGC), gold demand in Q4 2014 increased by 6% as compared to that in Q4 2013. In addit...

  • ISRA_Bloomberg_quarterly_sukuk_review_Q2_2015_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Pg. Sulaiman, Ak. Muhd. Fahmi (2015)

  • A summary of some Q2 2015 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Hong Kong Sukuk 2015 Ltd, Jambatan Kedua Sdn Bhd, Garuda Indonesia Global Sukuk Limited, Noor Sukuk Company Ltd, and Perusahaan Penerbit SBSN Indonesia III.

  • Power_alleviating_poverty_Magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2020)

  • The recent statistical data on poverty shows that most of the people who live below the poverty line are found in Muslim countries. For example, the total population who are living below poverty line in Algeria is 25%, in Egypt 25.2%, in Bangladesh 26%, in Syria 35.2%, in Afghanistan 35.8%, in Pakistan 36.3%, in Nigeria 46%, in Sudan 46.5%, in Chad 46.7%, in Senegal 46.7%, in Yemen 54% and in Somalia 73%. Some scholars relate this poverty to the oppression, humiliation and bad policies which had been imposed in almost all Muslim countries during colonization and have continued up to the present time. Others relate this to the incompetence and the corruption on the part of their govern...

  • prosperous_year_Islamic_capital_market_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • The Maldives is a small island nation with a 100% Muslim population. The country witnessed the first form of Islamic finance with the incorporation of Amana Takaful Maldives in 2003 and the first fully-fledged Islamic bank was established in 2011. As the Maldives marked the 15th anniversary of Islamic finance in the country, it gave the opportunity for the citizens of the country to appreciate the industry and widen its scope to tap into the halal industry via Islamic tourism and halal certification.

  • it_is_time_zakat_organizations_India_press_zakat_activation_button_provide_economic_social_relief_COVID-19_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • COVID-19 began as a health crisis and now has led to an economic crisis. There is a sudden surge in the number of poor and needy who has become unemployed over night without any prior warning and who has no way to find an alternative work as the whole country is locked down to protect from widespread of the disease in the local communities. This is the situation in the whole world today and India is no exception to this. As Purohit in this April 2020 has reported in Aljazeera: millions in underdeveloped regions face penury and deprivation as economic activity grinds to a halt due to lockdown. An example to further describe this issue at an individual is described by Purohit as follows...

  • time_make_hay_future_bright_sunny_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2015)

  • Maldives is a famous tourist destination that is unique not only geographically, but it is also a 100% Muslim country that has a homogenous language and culture across the whole country that consists of 1,190 small islands. Though the economy and the financial landscape of the country is predominated by conventional financing methods and ideas, since the formation of the first Islamic bank of the country, Maldives Islamic Bank in 2011, the development of Islamic finance has grown exponentially. Since then, the country has witnessed a rapid and remarkable growth in Islamic finance that is worth studying. The year 2015 can be considered as a significant year that has brought the import...

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

  • zakat_funds_moratorium_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • On the 22nd April 2020, the Ministry of Islamic Affairs of the Republic of Maldives announced that MVR1 million (US$63,895.8) will be allocated from Zakat funds to be given to the needy and poor aff ected by COVID-19. According to the World Bank, the Maldives is a middle-income country with GDP per capita of US$10,331 (2018). The Ministry of Gender and Family will receive the MVR1 million to help those affected. Before this, about MVR3 million (US$191,687) was spent by the Ministry of Islamic Affairs for Maldivians stranded in other countries due to lockdowns.

  • 2nd_maldives_Islamic_banking_finance_conference_emphasizes_importance_establishing_Islamic_center_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2015)

  • The 2nd Maldives Islamic Banking and Finance (MIBFI) Conference has acted as a forum where the Islamic banking and finance fraternity converge to discuss a plethora of issues. While the local players took center stage, the participation of foreign delegates complemented the Maldivian participants in engaging one another in discussions relating to the future prospects of the Islamic banking and finance industry in Maldives and beyond. This year's theme of the conference was 'Creating a center of Islamic Finance'.

  • oversubscription_MIB_shares_HDFC_issues_third_corporate_sukuk_aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza (2019)

  • Maldives Islamic Bank (MIB) has announced that its IPO of shares was successfully oversubscribed. A total of 6.98 million shares - 31% of the total number of shares - were open for the public and the price per share was MVR35 (US$2.24) of which the total will amount to MVR244.13 million (US$15.61 million). At the moment, the board of MIB is enacting a regulation to distribute shares to shareholders in a fair manner, giving preference to retail investors in accordance to what was mentioned in the prospectus.

  • Islamic_microfinance_scheme_Maldives_faseyhamadadhu_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • Though there are seven commercial banks operating in the country, there is no financial institution that is specialized in Islamic microfinance. However, funds received as foreign aid have been disbursed through the Bank of Maldives (BoM), the national bank as it is required by law to disburse such funds through a bank. The starting point that led to the formal existence of microfinance in the country is the enactment of the Small and Medium Enterprises (SME) Act (Law No. 6/2013) in 2013. The objective of this law was to help reduce poverty and related vulnerabilities as well as making the sector broad-based, innovative, resilient and internationally competitive. The enactment of this...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 143