Newsletter & Bulletin : [86]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 86
  • Protection_of_investment_account_holders_in_Islamic_banks_in_Malaysia_Noor_Mezbah.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri; Mezbah Uddin Ahmed (2017)

  • The Islamic banking industry in Malaysia is governed by the Islamic Financial Services Act 2013 (IFSA). This legislation marks another step in the evolution of the Islamic banking industry in Malaysia. Among its unique components, it re-classifies deposittaking products into two, namely Islamic deposits and investment accounts. The distinction has brought about a significant impact on the role that Islamic banks have traditionally been playing. The move from purely a credit intermediary to a mixed credit-and-investment intermediary is expected to promote real economic growth and development. In IFSA, investment account is defined as an account under which money is paid and accepted fo...

  • Constitutionality_Shariah_Advisory_Council_of_BNM_JRI_Resources_Kuwait_Finance_House_(Malaysia)_Noor.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri (2019)

  • In a recent landmark case, JRI Resources Sdn. Bhd. v Kuwait Finance House (Malaysia) Berhad, the Federal Court, the apex court in the judicial system of Malaysia, decided that the ascertainment of Islamic law by the Shariah Advisory Council of Bank Negara Malaysia (SAC) is binding on the judiciary and is not tantamount to a judicial decision. Of the nine panel judges, four judges dissented, arguing against the legality and constitutionality of the SAC. The dissenting judges argued that the SAC has been vested with judicial power by section 57 of the Central Bank of Malaysia Act 2009; hence, this section is unconstitutional and invalid and needs to be struck down. This brief write-up w...

  • The_Sustainable_Development_Goals_SDGs_funding_gap_in_Islamic_finance_Noor.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri (2019)

  • The Islamic Development Bank (IDB) has estimated that the financing gap of member states of the Organization of Islamic Cooperation (OIC) to achieve United Nations Sustainable Development Goals (SDGs) is about USD1 trillion per year, of which USD700 billion is earmarked for infrastructure. Even though 40% of world poor live in OIC countries earning the equivalent of USD1.25 a day or less, as of 2017, the world's 14 development banks including those of Asia and Africa have offered no more than USD175 billion to address the gap. Dr. Banda Hajjar, the IDB President, aptly described the available amount "represents only a drop in the sea compared to the size of this gap" (Moqana 2019).1 T...

  • Revisiting_Islamic_finance_in_the_midst_of_Covid-19_pandemic_the_case_of_Malaysia_Noor.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri (2020)

  • The ongoing Covid-19 pandemic has shattered the 2020 global economic growth. Amidst lingering uncertainties of the effects of Covid-19, governments around the world have set out measures to assist its economies through economic stimulus packages and interest rate cut. At the international front, the World Bank and the International Monetary Fund (IMF) on 25 March 2020 issued a joint statement calling on all bilateral creditors to suspend debt payments from International Development Association (IDA) countries that request forbearance (IMF 2020). A similar call was made by central banks around the world. On 24 March 2020, Bank Negara Malaysia (BNM) ordered banking institutions to grant...

  • Zakat_in_the_stans_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2021)

  • Central Asian nations have been independent for almost three decades since the collapse of the Soviet Union in 1991. Colloquially known as the 'stans', these Muslim-majority nations (more than 85% Muslim) include Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan with a collective population of approximately 72 million. Religious practices are slowly emerging after decades of religious censorship, with at least a generation having lived under Soviet socialism. Economically, these Central Asian countries have suffered setbacks from the COVID-19 shock, emanating from an over-reliance on commodities such as oil revenue, migrant labour, low levels of diversification and inef...

  • The_importance_of_state_managing_zakat_through_digitalization_Magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Magda Ismail Abdel Mohsin (2021)

  • The recent statistical data of the World Bank shows that the majority of people who live in poverty are found in Muslim countries. Moreover, almost all Muslim countries have huge unsettled external debts which result from compound interest, besides the corruption which prevails in almost all Muslim countries. Some scholars relate this fact to the oppression, humiliation and bad policies that had been imposed in almost all Muslim countries during colonization and have continued up to the present time. Others related this to the incompetence and the corruption on the part of their governments which led to the last Arab spring and what followed. We cannot deny the abovementioned reasons ...

  • Pandemic_thoughts_to_assist_poor_in India_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2021)

  • COVID-19 is a black swan event that has turned back the global poverty clock. Millions have lost their jobs overnight and have no way to find employment due to the lockdown measures taken to adequately deal with the pandemic and save the humankind from being extinct. The first case of COVID-19 in India was reported on 30 January 2020 and on 24 March 2020, the Prime Minister of the country announced that the country is going for full lockdown. This caused disruption in all major economic activities and led to increase in unemployment causing extreme poverty as no immediate financial helping hand was offered to them. According to the International Labor Organization (ILO), it is expecte...

  • Enhancing_zakat_distribution_with_IoT_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2021)

  • The Internet of things (IoT) is described as the network of physical objects - 'things' or objects - that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet. Today using IoT it is possible to measure the stress level and the poverty level of a household. As such, there is no reason why zakat distribution to the poor can be enhanced via linking it with IoT. The advantage of this could be that the poor who register with zakat administration authorities will have to register a single time and via the data receive from the household, the zakat administrator can determine whether the...

  • High_time_for_Islamic_banks_to_show_they_are_indeed_value_based_intermediaries_Kinan et al.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Shinaj Valangattil Shamsudheen; Kinan Salim; Baharom Abdul Hamid; Ziyaad Mahomed; Noor Haini Akmal Abu Bakar; Wiaam Hassan (2020)

  • The novel COVID-19 pandemic has caused an unprecedented human crisis around the globe. The necessary actions implemented to contain the virus have sparked both economic and social downturn. It shows the fragility and unpreparedness of the economy to face such a pandemic. Significant weakening of economic conditions has escalated the pressure on households, businesses and financial markets. Governments all over the globe are in the process of formulating and implementing appropriate policies to continue economic activities amidst this turmoil. Financial institutions are obligated to respond towards the policies adopted by respective governments.

  • Covid-19_saga_economic_impact_Ariff.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Ariff Abdul Kareem (2020)

  • The Covid-19 outbreak hit the fan in December 2019 in Wuhan, China. There is much controversy over the genesis of this new pandemic which is haunting the humanity the world over. Contradictory, if not competing, conspiracy theories have emerged, with China and the US blaming each other. Some have described Covid-19 as a Black Swan which took the world completely unawares, while others contend it was not unforeseen, as people like Bill Gates have been talking about an impending pandemic of Biblical proportions, for nearly five years.

  • Trade_off_between_health_and_wealth_Kinan et al.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Kinan Salim; Ziyaad Mahomed; Baharom Abdul Hamid; Noor Haini Akmal Abu Bakar; Wiaam Hassan; Shinaj Valangattil Shamsudheen (2020)

  • Recent statistics released by the IMF (Figure 1) provide a comparative on the significant impact that COVID-19, and the lockdown in fighting and containing the pandemic has on global economies. The IMF forecasts that the impact is expected to be more devastating than the growth experienced in the aftermath of the Global financial crisis in 2009. The Euro area is where the most severe impact is envisaged, with estimates of economic contraction at almost 8%. This is followed by the United States with an estimated contraction of 6% and Japan contracting slightly more than 5%. China and India are expected to post positive growth at 2% and 1% respectively.

  • The_rationale_adoption_Islamic_banking_muslim_minority_jurisdictions_Ariff.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Ariff Abdul Kareem (2020)

  • What differentiates Islamic banking from conventional banking is not simply the absence of interest payments. The fact that Islamic finance is interest-free does not mean that capital is costless. Unlike in the conventional system where the interest rate determines the cost of borrowed capital, which is pre-determined, the returns on funds provided by Islamic banks are not pre-determined as that would depend on the final outcomes. That said, one must hasten to add that there is much more to Islamic banking than the elimination of interest (riba) which is prohibited in Islam. Real sector connectivity and risk sharing principle represent the two important hallmarks of Islamic finance.

  • do_msme_patronage_factors_correspond_to_UAE_Islamic_banker_perceptions_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Shinaj Valangattil Shamsudheen; Shamsher Mohamad Ramadili Mohd; Ziyaad Mahomed (2020)

  • According to UAE Ministry of Economy, the SME sector represents more than 94 per cent of the total number of companies operating in the country and provide jobs for more than 86 per cent of the private sector's workforce. There are more than 350,000 companies working at the SMEs platform, and providing over 86 percent of the private sector's total workforce. They contribute to more than 60 percent of the UAE non-oil GDP. According to the Central Bank of UAE's data, credit provided to microenterprises grew 26.3% during the period from December 2017 through March 2019.

  • role_islamic_finance_catalyst_to_sustainable_entrepreneurship_achieving_sustainable_development_goals_agenda_zulkarnain.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Zulkarnain Muhamad Sori (2020)

  • Fairer and healthier planet have been the main agenda of governments around the globe since the last few decades. Global crisis like climate change, global warming, poverty, hunger, inequality and many more, have raised the concern on our planet sustainability. As a result, the United Nations Summit in New York from 25 to 27 September 2015 unveils the 2030 Agenda for Sustainable Development with 17 Sustainable Development Goals (SDGs) and 169 targets which are integrated and indivisible. This agenda promotes transformation of thinking and approaches to be more inclusive, people-centred and to include sustainable development consideration where possible.

  • fintech_technology_application_financial_product_ecosystem_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed; Shamsher Mohamad Ramadili Mohd (-)

  • Recent success in the technology sector has witnessed the transformation of start-up companies with relatively small or no seed capital into billion-dollar companies within a very short-space of time. From the advent of taxi-hailing apps (aka Uber, Lyft and Grabcar) to accommodation (eg. Airbnb), smartphone applications and web-based platform provide the evidence of this growing phenomena. The application of technology in the financial sector has 'disrupted' the traditional 'brick-and-mortar' style distribution channels and if not embraced, would cause the current financial sector to lose a substantial portion of their businesses (estimated between 20% to 40%) to firms using 'fintech'...

  • managing_risk_islamic_finance_sector_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed; Shamsher Mohamad Ramadili Mohd (-)

  • The nascent Islamic banking and finance sector is confronted with almost identical risks as the traditional interest-based industry. However, the Shari'ah (Islamic law) parameters for the interest-free industry introduces additional risk elements of compliance [and therefore reputational] risk and limits the use of conventional tools of risk mitigation. This section discussess the suitability of conventional risk management techniques in the Islamic banking and finance sector. The emerging risk management solutions for the sector are highlighted with some derivative options currently practiced in the Islamic finance markets.

  • classical_zakat_modelling_blockchain_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2018)

  • As the third pillar of Islam, zakat has a 1,400-year-old history in reducing inequality and redistributing wealth to at least, the deserving Qur'anic recipients (Al Qur'an, 9:60). Understood as an obligatory command, zakat appears no less than 58 times in the primary source of Islamic law, 26 times along with prayer, for instance: "So establish Salat and give Zakat, and hold fast to Allah" (Al-Qur'an 22:78). All Muslims who meet a minimum threshold of zakatable assets (nisab) are required to pay zakat annually. The oft-repeated conundrum however, is if the Zakat institution was so deeply entrenched in the Islamic law, why then do so many continue to suffer from poverty and malnutritio...

  • reality_check_slow_progress_digital_transformation_Islamic_social_finance_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2019)

  • It is true that significant progress in poverty alleviation and social empowerment has been made over the last 30 years. For OIC member states, the percentage of the population living below the poverty line has decreased by almost half, from 41.1% in 1990 to 22.4% in 2011. However, as populations increase, the number of people suffering from hunger, malnutrition and disease remains considerable. The 'OIC - 2025 Programme of Action' stresses, in Article 1.6, that Member States must transform their approach through "effective utilization of Islamic social finance (Zakat, Waqf) at national and intra-OIC level" in order to address poverty. It is quickly forgotten that the celebrated 17 so...

  • item.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Ariff Abdul Kareem (2019)

  • Without a doubt, Islamic finance has increasingly become an integral part of the global financial system, with Islamic banking playing a lead role in this new trajectory in many parts of the world. Islamic banking assets, deposits and financing have been growing at double-digit pace annually. In recent times, Islamic banking has attracted much international attention, especially in the aftermath of the global financial crisis of 2007-2008 which showed that Islamic banks are generally more stable than their conventional peers, although empirical evidence is admittedly mixed. A unique feature of Islamic finance is that it is interest-free with many ethical safeguards such as zero space ...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 86

Newsletter & Bulletin : [86]

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 86
  • Protection_of_investment_account_holders_in_Islamic_banks_in_Malaysia_Noor_Mezbah.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri; Mezbah Uddin Ahmed (2017)

  • The Islamic banking industry in Malaysia is governed by the Islamic Financial Services Act 2013 (IFSA). This legislation marks another step in the evolution of the Islamic banking industry in Malaysia. Among its unique components, it re-classifies deposittaking products into two, namely Islamic deposits and investment accounts. The distinction has brought about a significant impact on the role that Islamic banks have traditionally been playing. The move from purely a credit intermediary to a mixed credit-and-investment intermediary is expected to promote real economic growth and development. In IFSA, investment account is defined as an account under which money is paid and accepted fo...

  • Constitutionality_Shariah_Advisory_Council_of_BNM_JRI_Resources_Kuwait_Finance_House_(Malaysia)_Noor.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri (2019)

  • In a recent landmark case, JRI Resources Sdn. Bhd. v Kuwait Finance House (Malaysia) Berhad, the Federal Court, the apex court in the judicial system of Malaysia, decided that the ascertainment of Islamic law by the Shariah Advisory Council of Bank Negara Malaysia (SAC) is binding on the judiciary and is not tantamount to a judicial decision. Of the nine panel judges, four judges dissented, arguing against the legality and constitutionality of the SAC. The dissenting judges argued that the SAC has been vested with judicial power by section 57 of the Central Bank of Malaysia Act 2009; hence, this section is unconstitutional and invalid and needs to be struck down. This brief write-up w...

  • The_Sustainable_Development_Goals_SDGs_funding_gap_in_Islamic_finance_Noor.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri (2019)

  • The Islamic Development Bank (IDB) has estimated that the financing gap of member states of the Organization of Islamic Cooperation (OIC) to achieve United Nations Sustainable Development Goals (SDGs) is about USD1 trillion per year, of which USD700 billion is earmarked for infrastructure. Even though 40% of world poor live in OIC countries earning the equivalent of USD1.25 a day or less, as of 2017, the world's 14 development banks including those of Asia and Africa have offered no more than USD175 billion to address the gap. Dr. Banda Hajjar, the IDB President, aptly described the available amount "represents only a drop in the sea compared to the size of this gap" (Moqana 2019).1 T...

  • Revisiting_Islamic_finance_in_the_midst_of_Covid-19_pandemic_the_case_of_Malaysia_Noor.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Noor Suhaida Kasri (2020)

  • The ongoing Covid-19 pandemic has shattered the 2020 global economic growth. Amidst lingering uncertainties of the effects of Covid-19, governments around the world have set out measures to assist its economies through economic stimulus packages and interest rate cut. At the international front, the World Bank and the International Monetary Fund (IMF) on 25 March 2020 issued a joint statement calling on all bilateral creditors to suspend debt payments from International Development Association (IDA) countries that request forbearance (IMF 2020). A similar call was made by central banks around the world. On 24 March 2020, Bank Negara Malaysia (BNM) ordered banking institutions to grant...

  • Zakat_in_the_stans_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2021)

  • Central Asian nations have been independent for almost three decades since the collapse of the Soviet Union in 1991. Colloquially known as the 'stans', these Muslim-majority nations (more than 85% Muslim) include Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan with a collective population of approximately 72 million. Religious practices are slowly emerging after decades of religious censorship, with at least a generation having lived under Soviet socialism. Economically, these Central Asian countries have suffered setbacks from the COVID-19 shock, emanating from an over-reliance on commodities such as oil revenue, migrant labour, low levels of diversification and inef...

  • The_importance_of_state_managing_zakat_through_digitalization_Magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Magda Ismail Abdel Mohsin (2021)

  • The recent statistical data of the World Bank shows that the majority of people who live in poverty are found in Muslim countries. Moreover, almost all Muslim countries have huge unsettled external debts which result from compound interest, besides the corruption which prevails in almost all Muslim countries. Some scholars relate this fact to the oppression, humiliation and bad policies that had been imposed in almost all Muslim countries during colonization and have continued up to the present time. Others related this to the incompetence and the corruption on the part of their governments which led to the last Arab spring and what followed. We cannot deny the abovementioned reasons ...

  • Pandemic_thoughts_to_assist_poor_in India_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2021)

  • COVID-19 is a black swan event that has turned back the global poverty clock. Millions have lost their jobs overnight and have no way to find employment due to the lockdown measures taken to adequately deal with the pandemic and save the humankind from being extinct. The first case of COVID-19 in India was reported on 30 January 2020 and on 24 March 2020, the Prime Minister of the country announced that the country is going for full lockdown. This caused disruption in all major economic activities and led to increase in unemployment causing extreme poverty as no immediate financial helping hand was offered to them. According to the International Labor Organization (ILO), it is expecte...

  • Enhancing_zakat_distribution_with_IoT_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2021)

  • The Internet of things (IoT) is described as the network of physical objects - 'things' or objects - that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet. Today using IoT it is possible to measure the stress level and the poverty level of a household. As such, there is no reason why zakat distribution to the poor can be enhanced via linking it with IoT. The advantage of this could be that the poor who register with zakat administration authorities will have to register a single time and via the data receive from the household, the zakat administrator can determine whether the...

  • High_time_for_Islamic_banks_to_show_they_are_indeed_value_based_intermediaries_Kinan et al.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Shinaj Valangattil Shamsudheen; Kinan Salim; Baharom Abdul Hamid; Ziyaad Mahomed; Noor Haini Akmal Abu Bakar; Wiaam Hassan (2020)

  • The novel COVID-19 pandemic has caused an unprecedented human crisis around the globe. The necessary actions implemented to contain the virus have sparked both economic and social downturn. It shows the fragility and unpreparedness of the economy to face such a pandemic. Significant weakening of economic conditions has escalated the pressure on households, businesses and financial markets. Governments all over the globe are in the process of formulating and implementing appropriate policies to continue economic activities amidst this turmoil. Financial institutions are obligated to respond towards the policies adopted by respective governments.

  • Covid-19_saga_economic_impact_Ariff.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Ariff Abdul Kareem (2020)

  • The Covid-19 outbreak hit the fan in December 2019 in Wuhan, China. There is much controversy over the genesis of this new pandemic which is haunting the humanity the world over. Contradictory, if not competing, conspiracy theories have emerged, with China and the US blaming each other. Some have described Covid-19 as a Black Swan which took the world completely unawares, while others contend it was not unforeseen, as people like Bill Gates have been talking about an impending pandemic of Biblical proportions, for nearly five years.

  • Trade_off_between_health_and_wealth_Kinan et al.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Kinan Salim; Ziyaad Mahomed; Baharom Abdul Hamid; Noor Haini Akmal Abu Bakar; Wiaam Hassan; Shinaj Valangattil Shamsudheen (2020)

  • Recent statistics released by the IMF (Figure 1) provide a comparative on the significant impact that COVID-19, and the lockdown in fighting and containing the pandemic has on global economies. The IMF forecasts that the impact is expected to be more devastating than the growth experienced in the aftermath of the Global financial crisis in 2009. The Euro area is where the most severe impact is envisaged, with estimates of economic contraction at almost 8%. This is followed by the United States with an estimated contraction of 6% and Japan contracting slightly more than 5%. China and India are expected to post positive growth at 2% and 1% respectively.

  • The_rationale_adoption_Islamic_banking_muslim_minority_jurisdictions_Ariff.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Ariff Abdul Kareem (2020)

  • What differentiates Islamic banking from conventional banking is not simply the absence of interest payments. The fact that Islamic finance is interest-free does not mean that capital is costless. Unlike in the conventional system where the interest rate determines the cost of borrowed capital, which is pre-determined, the returns on funds provided by Islamic banks are not pre-determined as that would depend on the final outcomes. That said, one must hasten to add that there is much more to Islamic banking than the elimination of interest (riba) which is prohibited in Islam. Real sector connectivity and risk sharing principle represent the two important hallmarks of Islamic finance.

  • do_msme_patronage_factors_correspond_to_UAE_Islamic_banker_perceptions_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Shinaj Valangattil Shamsudheen; Shamsher Mohamad Ramadili Mohd; Ziyaad Mahomed (2020)

  • According to UAE Ministry of Economy, the SME sector represents more than 94 per cent of the total number of companies operating in the country and provide jobs for more than 86 per cent of the private sector's workforce. There are more than 350,000 companies working at the SMEs platform, and providing over 86 percent of the private sector's total workforce. They contribute to more than 60 percent of the UAE non-oil GDP. According to the Central Bank of UAE's data, credit provided to microenterprises grew 26.3% during the period from December 2017 through March 2019.

  • role_islamic_finance_catalyst_to_sustainable_entrepreneurship_achieving_sustainable_development_goals_agenda_zulkarnain.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Zulkarnain Muhamad Sori (2020)

  • Fairer and healthier planet have been the main agenda of governments around the globe since the last few decades. Global crisis like climate change, global warming, poverty, hunger, inequality and many more, have raised the concern on our planet sustainability. As a result, the United Nations Summit in New York from 25 to 27 September 2015 unveils the 2030 Agenda for Sustainable Development with 17 Sustainable Development Goals (SDGs) and 169 targets which are integrated and indivisible. This agenda promotes transformation of thinking and approaches to be more inclusive, people-centred and to include sustainable development consideration where possible.

  • fintech_technology_application_financial_product_ecosystem_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed; Shamsher Mohamad Ramadili Mohd (-)

  • Recent success in the technology sector has witnessed the transformation of start-up companies with relatively small or no seed capital into billion-dollar companies within a very short-space of time. From the advent of taxi-hailing apps (aka Uber, Lyft and Grabcar) to accommodation (eg. Airbnb), smartphone applications and web-based platform provide the evidence of this growing phenomena. The application of technology in the financial sector has 'disrupted' the traditional 'brick-and-mortar' style distribution channels and if not embraced, would cause the current financial sector to lose a substantial portion of their businesses (estimated between 20% to 40%) to firms using 'fintech'...

  • managing_risk_islamic_finance_sector_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed; Shamsher Mohamad Ramadili Mohd (-)

  • The nascent Islamic banking and finance sector is confronted with almost identical risks as the traditional interest-based industry. However, the Shari'ah (Islamic law) parameters for the interest-free industry introduces additional risk elements of compliance [and therefore reputational] risk and limits the use of conventional tools of risk mitigation. This section discussess the suitability of conventional risk management techniques in the Islamic banking and finance sector. The emerging risk management solutions for the sector are highlighted with some derivative options currently practiced in the Islamic finance markets.

  • classical_zakat_modelling_blockchain_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2018)

  • As the third pillar of Islam, zakat has a 1,400-year-old history in reducing inequality and redistributing wealth to at least, the deserving Qur'anic recipients (Al Qur'an, 9:60). Understood as an obligatory command, zakat appears no less than 58 times in the primary source of Islamic law, 26 times along with prayer, for instance: "So establish Salat and give Zakat, and hold fast to Allah" (Al-Qur'an 22:78). All Muslims who meet a minimum threshold of zakatable assets (nisab) are required to pay zakat annually. The oft-repeated conundrum however, is if the Zakat institution was so deeply entrenched in the Islamic law, why then do so many continue to suffer from poverty and malnutritio...

  • reality_check_slow_progress_digital_transformation_Islamic_social_finance_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2019)

  • It is true that significant progress in poverty alleviation and social empowerment has been made over the last 30 years. For OIC member states, the percentage of the population living below the poverty line has decreased by almost half, from 41.1% in 1990 to 22.4% in 2011. However, as populations increase, the number of people suffering from hunger, malnutrition and disease remains considerable. The 'OIC - 2025 Programme of Action' stresses, in Article 1.6, that Member States must transform their approach through "effective utilization of Islamic social finance (Zakat, Waqf) at national and intra-OIC level" in order to address poverty. It is quickly forgotten that the celebrated 17 so...

  • item.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Ariff Abdul Kareem (2019)

  • Without a doubt, Islamic finance has increasingly become an integral part of the global financial system, with Islamic banking playing a lead role in this new trajectory in many parts of the world. Islamic banking assets, deposits and financing have been growing at double-digit pace annually. In recent times, Islamic banking has attracted much international attention, especially in the aftermath of the global financial crisis of 2007-2008 which showed that Islamic banks are generally more stable than their conventional peers, although empirical evidence is admittedly mixed. A unique feature of Islamic finance is that it is interest-free with many ethical safeguards such as zero space ...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 86