Newsletter & Bulletin : [96]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 96
  • item.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2021)

  • Global agendas are aggressively gearing towards climate change strategies and funding the United Nations (UN) Sustainable Development Goals (SDGs). The total investment gap for successfully achieving the 169 targets in developing countries is estimated at USD2.5 trillion per year (UNCTAD 2020). Unfortunately, limited data and challenges in data consensus have significantly inhibited monitoring bodies� ability to accurately determine how much and where it is needed. Furthermore, developing countries have been slow in developing sustainable fund structures and even slower in attracting impact investment for the SDGs (UNCTAD 2019). Impact investing is defined as �investments made with th...

  • item.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2021)

  • The sustainability agenda has increased in prominence as climate change wreaks havoc across vulnerable areas globally. Over the last two decades, the substantial increase in weather-related events, human displacement, and loss due to conflict and contagion have nudged global leaders to drive more sustainable policies for a better world. Financial institutions, as funders of the largest contributor to climate change, the industrial complex, have also been required to adopt sustainable policies through several responsible, ethical or Environmental, Social, and Governance (ESG) frameworks such as 6 United Nations Principle for Responsible Investment (PRI), 17 United Nations Sustainable ...

  • Islamic_finance_and_the_mission_to_net_zero_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ahmad Hafiz Abdul Aziz; Ziyaad Mahomed (2022)

  • The 26th United Nations Climate Change Conference of the Parties (COP26) summit held in Glasgow in November 2021, for the first time, targeted fossil fuels as the key driver of global warming. Over 130 countries committed to a net zero impact on climate within the next 50 years, with India committing to net zero emissions by 2070. This commitment moves the world closer to the key objectives of the summit: secure global net zero by mid-century and keep the average global temperature to 1.5 degrees Celsius within reach; adapt to protect communities and natural habitats; mobilise finance to secure global net zero; and work together to deliver the implementation of the Paris climate agree...

  • PPPs_or_iPPPPs_which_model_provides_greater_infrastructural_social_impact_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2022)

  • Sub-Saharan Africa (SSA) is made up of West, East, Central and Southern Africa and comprises approximately 48 independent countries. The region contributed just 2.35 per cent to the global GDP in 2020 but accounted for over 14 per cent of the global population during the same period (World Bank, 2021). Data indicates that the global population will increase by 2 billion within the next three decades, half of which will be from the SSA (United Nations, 2019). Unfortunately, SSA economies are classified as fragile, making them vulnerable to economic shocks or health disruptions like pandemics (OECD, 2018). To prevent financial collapse, SSA countries require efficient financial structur...

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


  • Authors: Ziyaad Mahomed; Muawiya Mahomed (2020)

  • The year 2020 is unparalleled in historical oil prices, crashing in April to -US$38 per barrel from a low of US$18 in a matter of hours. The increasing stockpiles and inadequate storage facilities forced oil producers to pay buyers to take barrels that were not storable. Oil producers faced a perfect storm of strategic price cutting stemming from rivalry between oil giants from the Kingdom of Saudi Arabia and Russia, and a global virus that forced lockdowns to contain the pandemic. Aramco, the Kingdom's 'national' oil company and the world's largest oil producer until recently, had to manage the severe oil price shock with policy changes that caused spillover effects on the nation. Hi...

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


  • Authors: Shamsher Mohamad Ramadili Mohd; Zulkarnain Muhamad Sori (2020)

  • Covid-19 pandemic is a virus-related natural disaster. The Covid-19 pandemic was detected in 2019 in Wuhan in China and then spread to Hong Kong and then other countries, as it has considerably broader reach in terms of numbers of both countries and people affected than other virus-related disasters (Hassan et al. 2020). The possible reason for this global contagion is the increased integration of the global social and economic supply chain linkages so entrenched in the globalized ecosystem since 1980s. These previous virus-related pandemics including Severe Acute Respiratory Syndrome (SARS) (2002-03), Swine Flu (2009-10), Middle East Respiratory Syndrome (MERS) (2012-13), Ebola (2014...

  • The_evolution_of_Islamic_venture_capital_in_Malaysia_Said Adekunle.pdf.jpg
  • Newsletter & Bulletin


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

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

  • Pandemic_innovation_for_zakat_the_potential_of_crypto_zakat_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2020)

  • Technology has no religion. As long as technology is utilized to benefit the humankind, from a Shariah perspective, there is no issue in using it. Zakat is the third pillar of Islam and to enhance the processes and procedures involved in it, technology has been used. The digitization process of zakat has taken place and today we are moving towards digitalization of it. The process of zakat is simple. The Muslim or any person professing the religion of Islam who is eligible to pay zakat could do so to Baitul-mal or directly to any of the categories of asnaf stated in the Quran: "Zakat is for the poor and the needy, and amil (those employed to administer the funds), for the muallaf (tho...

  • Occupational_risk_the_urgency_for_frontliner_protection_Baharom_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Baharom Abdul Hamid; Ziyaad Mahomed; Shinaj Valangattil Shamsudheen; Wiaam Hassan (2020)

  • The Department of Labour in the US recently released their Covid-19 Occupational Risk Score. The statistics are based on their Purchasing Power Parity, the homogeneity of the job description and the risk of exposure to COVID-19. The figure above may be used to depict a more generic occupational risk correlated with salary grades, that are experienced internationally, including Malaysia. The Occupational Risk Score can be divided into four quadrants: i. high income-low risk, ii. high income-high risk, iii. low income-high risk, and iv. low income-low risk. Those with the highest exposure to infection include what is now termed as the 'frontliners'. These include doctors, nurses, and ot...

  • The_impact_of_Covid-19_on_Islamic_finance_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2020)

  • Covid-19 is a pandemic that has overturned the world including the whole mankind. Never in the wildest dreams, one would have anticipated that a health crisis would lead to a multi-dimensional crisis where trade and transportation activities has been stopped; creating domino effect where many have become jobless overnight and is stuck at home unable to find alternatives to ease their personal situation. It is not only the individuals who were affected, but starting from small businesses to big giant corporations, Covid-19 has hit hard. As a result, there is no way individuals or private sector could survive unless and until the government saves them by providing a helping hand. The h...

  • 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...

  • 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...

  • 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...

  • 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.

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 96

Newsletter & Bulletin : [96]

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 96
  • item.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2021)

  • Global agendas are aggressively gearing towards climate change strategies and funding the United Nations (UN) Sustainable Development Goals (SDGs). The total investment gap for successfully achieving the 169 targets in developing countries is estimated at USD2.5 trillion per year (UNCTAD 2020). Unfortunately, limited data and challenges in data consensus have significantly inhibited monitoring bodies� ability to accurately determine how much and where it is needed. Furthermore, developing countries have been slow in developing sustainable fund structures and even slower in attracting impact investment for the SDGs (UNCTAD 2019). Impact investing is defined as �investments made with th...

  • item.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2021)

  • The sustainability agenda has increased in prominence as climate change wreaks havoc across vulnerable areas globally. Over the last two decades, the substantial increase in weather-related events, human displacement, and loss due to conflict and contagion have nudged global leaders to drive more sustainable policies for a better world. Financial institutions, as funders of the largest contributor to climate change, the industrial complex, have also been required to adopt sustainable policies through several responsible, ethical or Environmental, Social, and Governance (ESG) frameworks such as 6 United Nations Principle for Responsible Investment (PRI), 17 United Nations Sustainable ...

  • Islamic_finance_and_the_mission_to_net_zero_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ahmad Hafiz Abdul Aziz; Ziyaad Mahomed (2022)

  • The 26th United Nations Climate Change Conference of the Parties (COP26) summit held in Glasgow in November 2021, for the first time, targeted fossil fuels as the key driver of global warming. Over 130 countries committed to a net zero impact on climate within the next 50 years, with India committing to net zero emissions by 2070. This commitment moves the world closer to the key objectives of the summit: secure global net zero by mid-century and keep the average global temperature to 1.5 degrees Celsius within reach; adapt to protect communities and natural habitats; mobilise finance to secure global net zero; and work together to deliver the implementation of the Paris climate agree...

  • PPPs_or_iPPPPs_which_model_provides_greater_infrastructural_social_impact_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ziyaad Mahomed (2022)

  • Sub-Saharan Africa (SSA) is made up of West, East, Central and Southern Africa and comprises approximately 48 independent countries. The region contributed just 2.35 per cent to the global GDP in 2020 but accounted for over 14 per cent of the global population during the same period (World Bank, 2021). Data indicates that the global population will increase by 2 billion within the next three decades, half of which will be from the SSA (United Nations, 2019). Unfortunately, SSA economies are classified as fragile, making them vulnerable to economic shocks or health disruptions like pandemics (OECD, 2018). To prevent financial collapse, SSA countries require efficient financial structur...

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


  • Authors: Ziyaad Mahomed; Muawiya Mahomed (2020)

  • The year 2020 is unparalleled in historical oil prices, crashing in April to -US$38 per barrel from a low of US$18 in a matter of hours. The increasing stockpiles and inadequate storage facilities forced oil producers to pay buyers to take barrels that were not storable. Oil producers faced a perfect storm of strategic price cutting stemming from rivalry between oil giants from the Kingdom of Saudi Arabia and Russia, and a global virus that forced lockdowns to contain the pandemic. Aramco, the Kingdom's 'national' oil company and the world's largest oil producer until recently, had to manage the severe oil price shock with policy changes that caused spillover effects on the nation. Hi...

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


  • Authors: Shamsher Mohamad Ramadili Mohd; Zulkarnain Muhamad Sori (2020)

  • Covid-19 pandemic is a virus-related natural disaster. The Covid-19 pandemic was detected in 2019 in Wuhan in China and then spread to Hong Kong and then other countries, as it has considerably broader reach in terms of numbers of both countries and people affected than other virus-related disasters (Hassan et al. 2020). The possible reason for this global contagion is the increased integration of the global social and economic supply chain linkages so entrenched in the globalized ecosystem since 1980s. These previous virus-related pandemics including Severe Acute Respiratory Syndrome (SARS) (2002-03), Swine Flu (2009-10), Middle East Respiratory Syndrome (MERS) (2012-13), Ebola (2014...

  • The_evolution_of_Islamic_venture_capital_in_Malaysia_Said Adekunle.pdf.jpg
  • Newsletter & Bulletin


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

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

  • Pandemic_innovation_for_zakat_the_potential_of_crypto_zakat_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2020)

  • Technology has no religion. As long as technology is utilized to benefit the humankind, from a Shariah perspective, there is no issue in using it. Zakat is the third pillar of Islam and to enhance the processes and procedures involved in it, technology has been used. The digitization process of zakat has taken place and today we are moving towards digitalization of it. The process of zakat is simple. The Muslim or any person professing the religion of Islam who is eligible to pay zakat could do so to Baitul-mal or directly to any of the categories of asnaf stated in the Quran: "Zakat is for the poor and the needy, and amil (those employed to administer the funds), for the muallaf (tho...

  • Occupational_risk_the_urgency_for_frontliner_protection_Baharom_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Baharom Abdul Hamid; Ziyaad Mahomed; Shinaj Valangattil Shamsudheen; Wiaam Hassan (2020)

  • The Department of Labour in the US recently released their Covid-19 Occupational Risk Score. The statistics are based on their Purchasing Power Parity, the homogeneity of the job description and the risk of exposure to COVID-19. The figure above may be used to depict a more generic occupational risk correlated with salary grades, that are experienced internationally, including Malaysia. The Occupational Risk Score can be divided into four quadrants: i. high income-low risk, ii. high income-high risk, iii. low income-high risk, and iv. low income-low risk. Those with the highest exposure to infection include what is now termed as the 'frontliners'. These include doctors, nurses, and ot...

  • The_impact_of_Covid-19_on_Islamic_finance_Aishath.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Aishath Muneeza (2020)

  • Covid-19 is a pandemic that has overturned the world including the whole mankind. Never in the wildest dreams, one would have anticipated that a health crisis would lead to a multi-dimensional crisis where trade and transportation activities has been stopped; creating domino effect where many have become jobless overnight and is stuck at home unable to find alternatives to ease their personal situation. It is not only the individuals who were affected, but starting from small businesses to big giant corporations, Covid-19 has hit hard. As a result, there is no way individuals or private sector could survive unless and until the government saves them by providing a helping hand. The h...

  • 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...

  • 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...

  • 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...

  • 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.

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 96