By Md Akther Uddin, PhD Abstract This paper attempts to give a brief overview of existing Shari’ah Governance framework in Malaysia, compare with AAOIFI and IFSB standards and guidelines, identify current issues, and recommend measures to improve existing practices. The study finds that a great number of researches have been carried out to study the Shari’ah […]
By Junaid Qadir & Asad Zaman Abstract: The purpose of the article is to articulate Islamic developmental ideals and to outline the various ends of Islamic development. We provide a list of seven overlapping concepts that together define the Islamic ideal of human development. In contrast to the purely materialistic conceptions of human development in modern economics, […]
By Muhammad Iman Sastra Mihajat, Ph.D Abstract The most crucial challenge facing Islamic Banking Entities (IBEs) in the Sultanate of Oman, as the new comer in Islamic banking especially in the GCC Market, is to ensure the full compliance of the IBEs in planning, development, and implementation of the products, services, conducts of business and activities […]
By Mastura Mohd Shafie, Mat Noor Mat Zain and Nik Abdul Rahim Nik Abdul Ghani Abstract The encouraging growth momentum in Islamic banking in Malaysia has made it the first country to adopt dual banking system wherein Islamic banking exists side by side with the conventional counterparts. The positive developments, via several stages started with a stand-alone […]
By Mustafa Hussain Khan & Syed Ahmed Salman Abstract Purpose This research investigates the prospects of Shari’ah mutual funds in India. India is among the fastest emerging destinations for investment. It has the second highest Muslim population in the world with 180 million representing some 14.4% of India’s total population. Having a huge potential and strong […]
By Husam Suleiman Abstract The course of this submission is to detail the creation and implementation of a cooperative zakat distribution model in a geographic area encompassing over a dozen mosques and Islamic organizations. The first section opens by outlining the initial state of zakat management in the given region, resulting from the implementation of a […]
By Abdul Azeez Maruf Olayemi, Steyn Heckroodt and Schoepp Kevin Abstract This paper proposes a standardized ‘Corporate Social Responsibility (CSR)’ framework for the Islamic financial institution queing from the idea of the proposed UAE framework. The development of CSR framework in UAE is the newest contribution of the country to the growth of Islamic finance, after being […]
By Idris Muhammad Idris & N.M. Gatawa Abstract This research paper discussed the challenges of Islamic banking in Nigeria, looking at the legal and regulatory perspective of the industry. The background of both the Islamic and Conventional banking system was analyzed, the legal background supporting the major actors in the industry i.e. (CBN and NDIC) functions was […]
By Md Akther Uddin, PhD Abstract This paper studies Shari’ah governance and risk management practices in the biggest Islamic bank in Bangladesh, Islami Bank Bangladesh Ltd (IBBL). The study is descriptive and comparative in nature. We have analyzed existing literature to compare Shari’ah governance framework and used secondary data to understand the risk management practices in […]
By Mustapha Abubakar PhD & Kabiru Jinjiri Ringim Abstract The concepts, theory and practice of risk sharing as enshrined in Islamic finance remain a real mechanism for widening the space for participation in economic activities for growth and development. The perceived propensity for greater risk sharing derivable benefits, which mutual efforts enjoyed in Islamic finance, is […]
