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Search results for: custom and Islamic law
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1059</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: custom and Islamic law</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1059</span> Islamic Finance: Its Theory, Products and a Brief View of Islamic Finance in Europe</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ahmet%20Sekreter">Ahmet Sekreter</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Although there are conceptual similarities in terms of financial products between conventional and Islamic finance, they are entirely different financial systems. Despite Islamic finance’s small size in the conventional finance world, its promising growth makes Islamic finance a hot topic both in academia and business world. Today customers can access sophisticated Islamic financial products not only in Muslim countries but also in Europe. This study analyzes Islamic finance and its products and includes a brief overview of Islamic finance in Europe. Literature review is the basis of this paper. The author analyzed the academic papers, numerical data, and estimations to set a perspective for the future of Islamic finance in Europe. Findings show that UK is the main hub for the Islamic finance, and it will remain so in the near future. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=islamic%20finance" title="islamic finance">islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20banking" title=" islamic banking"> islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20finance%20in%20Europe" title=" islamic finance in Europe"> islamic finance in Europe</a>, <a href="https://publications.waset.org/abstracts/search?q=finance" title=" finance"> finance</a> </p> <a href="https://publications.waset.org/abstracts/138317/islamic-finance-its-theory-products-and-a-brief-view-of-islamic-finance-in-europe" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/138317.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">238</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1058</span> Islamic Finance: Challenges of Islamic Banking in Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Asif%20Zaheer%20Shaikh">Asif Zaheer Shaikh</a>, <a href="https://publications.waset.org/abstracts/search?q=Zhaoyong%20Zhang"> Zhaoyong Zhang</a>, <a href="https://publications.waset.org/abstracts/search?q=Jaime%20Yong"> Jaime Yong</a>, <a href="https://publications.waset.org/abstracts/search?q=Ume%20Laila%20Shah"> Ume Laila Shah</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic finance is growing with remarkable pace, especially Islamic banking, a major segment of Islamic finance, is expanding rapidly. This paper discusses the position of Islamic finance and Islamic banking, around the world in general and particularly in Pakistan. History of Islamic banking in Pakistan is protested, presently a significant growth is observed. However Islamic banking is confronting with number of challenges, which are refraining from sustainable growth of this industry in Pakistan. Growth level of Islamic banks should be steeper to contribute substantial share in country’s economy. It is important to formulate effective policies, at institutional and operational level to address these challenges through close collaboration of key stakeholders. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20finance" title="Islamic finance">Islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=challenges" title=" challenges"> challenges</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title=" Islamic banking"> Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Pakistan" title=" Pakistan"> Pakistan</a> </p> <a href="https://publications.waset.org/abstracts/68295/islamic-finance-challenges-of-islamic-banking-in-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/68295.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">535</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1057</span> A Comparative Analysis of a Custom Optimization Experiment with Confidence Intervals in Anylogic and Optquest</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Felipe%20Haro">Felipe Haro</a>, <a href="https://publications.waset.org/abstracts/search?q=Soheila%20Antar"> Soheila Antar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper introduces a custom optimization experiment developed in AnyLogic, based on genetic algorithms, designed to ensure reliable optimization results by incorporating Montecarlo simulations and achieving a specified confidence level. To validate the custom experiment, we compared its performance with AnyLogic's built-in OptQuest optimization method across three distinct problems. Statistical analyses, including Welch's t-test, were conducted to assess the differences in performance. The results demonstrate that while the custom experiment shows advantages in certain scenarios, both methods perform comparably in others, confirming the custom approach as a reliable and effective tool for optimization under uncertainty. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=optimization" title="optimization">optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=confidence%20intervals" title=" confidence intervals"> confidence intervals</a>, <a href="https://publications.waset.org/abstracts/search?q=Montecarlo%20simulation" title=" Montecarlo simulation"> Montecarlo simulation</a>, <a href="https://publications.waset.org/abstracts/search?q=optQuest" title=" optQuest"> optQuest</a>, <a href="https://publications.waset.org/abstracts/search?q=AnyLogic" title=" AnyLogic"> AnyLogic</a> </p> <a href="https://publications.waset.org/abstracts/193080/a-comparative-analysis-of-a-custom-optimization-experiment-with-confidence-intervals-in-anylogic-and-optquest" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/193080.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">17</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1056</span> Mystical Principles of Islamic Art</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Seyed%20Razi%20Nousavi%20Gilani">Seyed Razi Nousavi Gilani</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic culture and especially the Shia is full of mystical and philosophical elements. A close look at the history of Islamic civilization, which is supposed to represent the teachings and words of faith leaders with the knowledge and use of the philosophical and mystical concepts, has influenced Islamic art. This article explains the influence of Shiite Islamic teachings and their teachings of mystical elements on Islamic art and examines as case studies in the arts such as architecture, calligraphy and painting. These arts have always been associated with mystical and philosophical teachings in view of traditional artists. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mystics" title="mystics">mystics</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20Art" title=" Islamic Art"> Islamic Art</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20culture" title=" Islamic culture"> Islamic culture</a>, <a href="https://publications.waset.org/abstracts/search?q=mystic" title=" mystic"> mystic</a> </p> <a href="https://publications.waset.org/abstracts/53695/mystical-principles-of-islamic-art" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/53695.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">285</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1055</span> Islamic Transaction: An Alternative for Customer Satisfaction in the Islamic Banking</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohammad%20Iqbal%20Maiik">Mohammad Iqbal Maiik</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic marketing ethics combines the principle of value maximization with the principles of equity and justice for the welfare of the society. Adherence to the Islamic ethics in the Islamic banking industry can help elevate the standards of both behavior and living of bankers and customers alike. In a rapidly changing marketing environment, the need to be customer-focused has never been as important as it is today. At present where customers are becoming more demanding and increasingly mobile between competing financial providers, being customer-focused is not enough. Islamic banks and more specifically their customer-contact employees (customer relation advisers or officers) need to be perceived by their customers as being Islamic. This study represents an initial step in analyzing the role of Islamic ethical sales behavior as it may be perceived by the customers of Islamic Banks. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islam" title="Islam">Islam</a>, <a href="https://publications.waset.org/abstracts/search?q=ethics" title=" ethics"> ethics</a>, <a href="https://publications.waset.org/abstracts/search?q=marketing" title=" marketing"> marketing</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banks" title=" Islamic banks"> Islamic banks</a> </p> <a href="https://publications.waset.org/abstracts/11067/islamic-transaction-an-alternative-for-customer-satisfaction-in-the-islamic-banking" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/11067.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">420</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1054</span> Islamic Architecture and the Challenges against It</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohammad%20Torabiyan">Mohammad Torabiyan</a>, <a href="https://publications.waset.org/abstracts/search?q=Kazem%20%20Mosawi%20Nejad"> Kazem Mosawi Nejad</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Today architecture has become as a powerful media for introducing cultures to the world, which in turn brings about a change in the global insight, power gaining, investment and development. Islamic architecture is based on the language of Koran and shows the depth and richness of Islam through spiritual soul. This is in a way that belief in monotheism and faith in Islamic teachings are manifested as Islam's aesthetic thought in Islamic architecture. Unfortunately, Islamic architecture has been damaged a lot due to lack of necessary information and also successive wars which have overtaken the Muslims as well as the dominance of colonizing counties. Islamic architecture is rooted in the history, culture and civilization of Muslims but its deficiencies and shortcomings should be removed through systematizing the Islamic architecture researchers. Islamic countries should act in a way that the art of Islamic architecture shows its true place in different architecture eras and makes everybody aware that Islamic architecture has a historical root and is connected eternally to the genuineness, religious art and culture of Muslims and civilization. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=art" title="art">art</a>, <a href="https://publications.waset.org/abstracts/search?q=culture" title=" culture"> culture</a>, <a href="https://publications.waset.org/abstracts/search?q=civilization" title=" civilization"> civilization</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20architecture" title=" Islamic architecture"> Islamic architecture</a>, <a href="https://publications.waset.org/abstracts/search?q=Muslims" title=" Muslims "> Muslims </a> </p> <a href="https://publications.waset.org/abstracts/3723/islamic-architecture-and-the-challenges-against-it" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/3723.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">529</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1053</span> Financial Market Turmoil and Performance of Islamic Equity Indices</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abul%20Shamsuddin">Abul Shamsuddin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dow%20Jones%20Islamic%20market%20index" title="Dow Jones Islamic market index">Dow Jones Islamic market index</a>, <a href="https://publications.waset.org/abstracts/search?q=FTSE%20global%20Islamic%20index" title=" FTSE global Islamic index"> FTSE global Islamic index</a>, <a href="https://publications.waset.org/abstracts/search?q=ethical%20investment" title=" ethical investment"> ethical investment</a>, <a href="https://publications.waset.org/abstracts/search?q=finance" title=" finance"> finance</a> </p> <a href="https://publications.waset.org/abstracts/4828/financial-market-turmoil-and-performance-of-islamic-equity-indices" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/4828.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">354</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1052</span> Sliding Mode Control and Its Application in Custom Power Device: A Comprehensive Overview</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pankaj%20Negi">Pankaj Negi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Nowadays the demand for receiving the high quality electrical energy is being increasing as consumer wants not only reliable but also quality power. Custom power instruments are of the most well-known compensators of power quality in distributed network. This paper present a comprehensive review of compensating custom power devices mainly DSTATCOM (distribution static compensator),DVR (dynamic voltage restorer), and UPQC (unified power quality compensator) and also deals with sliding mode control and its applications to custom power devices. The sliding mode control strategy provides robustness to custom power device and enhances the dynamic response for compensating voltage sag, swell, voltage flicker, and voltage harmonics. The aim of this paper is to provide a broad perspective on the status of compensating devices in electric power distribution system and sliding mode control strategies to researchers and application engineers who are dealing with power quality and stability issues. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=active%20power%20filters%28APF%29" title="active power filters(APF)">active power filters(APF)</a>, <a href="https://publications.waset.org/abstracts/search?q=custom%20power%20device%28CPD%29" title=" custom power device(CPD)"> custom power device(CPD)</a>, <a href="https://publications.waset.org/abstracts/search?q=DSTATCOM" title=" DSTATCOM"> DSTATCOM</a>, <a href="https://publications.waset.org/abstracts/search?q=DVR" title=" DVR"> DVR</a>, <a href="https://publications.waset.org/abstracts/search?q=UPQC" title=" UPQC"> UPQC</a>, <a href="https://publications.waset.org/abstracts/search?q=sliding%20mode%20control%20%28SMC%29" title=" sliding mode control (SMC)"> sliding mode control (SMC)</a>, <a href="https://publications.waset.org/abstracts/search?q=power%20quality" title=" power quality "> power quality </a> </p> <a href="https://publications.waset.org/abstracts/47945/sliding-mode-control-and-its-application-in-custom-power-device-a-comprehensive-overview" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47945.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">439</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1051</span> The Position of Islamic Jurisprudence in UAE Private Law: Analytical Study </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Iyad%20Jadalhaq">Iyad Jadalhaq</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohammed%20El%20Hadi%20El%20Maknouzi"> Mohammed El Hadi El Maknouzi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The place of Islamic law in the legal system of the UAE is best understood by introducing a differentiation between its role as a formal source of law and its influence as a material source of law. What this differentiation helps clarify is that the corpus of Islamic law constitutes a much deeper influence on adjudication, law-making and the legal profession in the UAE, than it might appear at first sight, by considering its formal position in the division of labor between courts, or legislative lists of sources of law. This paper aims to examine the role of Shariah in the UAE private law system by determining the comprehensiveness of Sharia in the legal system as a whole, and not in a limited way related to it as a source of law according to Article 1 of the Civil Transactions Law. Turning to the role of the Shariah as a formal source of law, it is useful to start from Article 1 of the UAE Civil Code. This provision lays out the formal hierarchy of sources of UAE private law, these being legislation, Islamic law, and custom. Hence, when deciding a civil dispute, a judge should first refer to positive legislation in force in the UAE. Lacking the rule to cover the case before him/her, the judge ought then to refer directly to Islamic law. If the matter lacks regulation in Islamic law, only then may the judge appeal to custom. Accordingly, in connection to civil transactions, Shariah is presented here, formally, as the second source of law. Still, Shariah law addresses many other issues beyond civil transactions, including matters of morals, worship, and belief. However, in Article 1 of the UAE Civil Code, the reference to Islamic law ought to be understood as limited to the rules it lays out for civil transactions. There are four main sets of courts in the judicial systems of the UAE, whose competence is based on whether a dispute touches upon civil and commercial transactions, criminal offenses, personal statuses, or labor relations. This sectorial and multi-tiered organization of courts as a whole constitutes an institutional development compatible with the long-standing affirmation in the Shariah of the legitimacy of the judiciary. Indeed, Islamic law authorizes the governing authorities to organize the judiciary, including by allocating specific types of cases to particular kinds of judges depending on the value of the case, or by assigning judges to a specific place in which they are to exercise their jurisdictional function. In view of this, the contemporary organization of courts in the UAE can be regarded as an organic adaptation, aligned with Shariah rules on the assignment of jurisdictional authority, to the growing complexity of modern society. Therefore, we can conclude to the comprehensive role of Shariah in the entire legal system of the United Arab Emirates, including legislation, a judicial system, institutional, and administrative work. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20jurisprudence" title="Islamic jurisprudence">Islamic jurisprudence</a>, <a href="https://publications.waset.org/abstracts/search?q=Shariah" title=" Shariah"> Shariah</a>, <a href="https://publications.waset.org/abstracts/search?q=UAE%20civil%20code" title=" UAE civil code"> UAE civil code</a>, <a href="https://publications.waset.org/abstracts/search?q=UAE%20private%20law" title=" UAE private law"> UAE private law</a> </p> <a href="https://publications.waset.org/abstracts/123702/the-position-of-islamic-jurisprudence-in-uae-private-law-analytical-study" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/123702.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">119</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1050</span> Islamic Banks and the Most Important Contemporary Challenges </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mahmood%20Mohammed%20Abdulsattar%20Aljumaili">Mahmood Mohammed Abdulsattar Aljumaili</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banks" title="Islamic banks">Islamic banks</a>, <a href="https://publications.waset.org/abstracts/search?q=Basel%201-2%20agreement" title=" Basel 1-2 agreement"> Basel 1-2 agreement</a>, <a href="https://publications.waset.org/abstracts/search?q=most%20important%20contemporary%20challenges" title=" most important contemporary challenges"> most important contemporary challenges</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20banking%20industry" title=" islamic banking industry"> islamic banking industry</a>, <a href="https://publications.waset.org/abstracts/search?q=Dow%20Jones%20Islamic%20market" title=" Dow Jones Islamic market "> Dow Jones Islamic market </a> </p> <a href="https://publications.waset.org/abstracts/18872/islamic-banks-and-the-most-important-contemporary-challenges" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/18872.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">500</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1049</span> Islamic State: Franchising Jihad through the New Caliphate</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Janiel%20David%20Melamed%20Visbal">Janiel David Melamed Visbal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Islamic State has become one of the most remarkable threats for international security through their religious extremism and their establishment of a new caliphate by force. The main objective of this organization is to obtain territorial expansions beyond the Middle East and eventually to consolidate an Islamic global order based on their extremist ideology. This paper will conduct an analysis regarding how, over the past year, many jihadist organizations worldwide have pledged their alliagance to the Islamic State, transforming it into the most important jihadist franchise globally. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20state" title="Islamic state">Islamic state</a>, <a href="https://publications.waset.org/abstracts/search?q=franchise" title=" franchise"> franchise</a>, <a href="https://publications.waset.org/abstracts/search?q=jihad" title=" jihad"> jihad</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20fundamentalism" title=" Islamic fundamentalism"> Islamic fundamentalism</a>, <a href="https://publications.waset.org/abstracts/search?q=caliphate" title=" caliphate"> caliphate</a> </p> <a href="https://publications.waset.org/abstracts/46178/islamic-state-franchising-jihad-through-the-new-caliphate" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/46178.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">358</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1048</span> Islamic Banking in Ghana: Prospects and Challenges</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shaibu%20%20Ali">Shaibu Ali</a>, <a href="https://publications.waset.org/abstracts/search?q=Sherif%20%20Heiman%20Shaban"> Sherif Heiman Shaban</a>, <a href="https://publications.waset.org/abstracts/search?q=Musah%20%20Ismaila"> Musah Ismaila</a>, <a href="https://publications.waset.org/abstracts/search?q=Imoro%20%20Alhassan"> Imoro Alhassan</a>, <a href="https://publications.waset.org/abstracts/search?q=Yusif%20%20Ali"> Yusif Ali</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Purpose: Islamic banking and finance is one of the most rapidly growing segments of the global finance industry. Starting with the Dubai Islamic Bank in 1975, the number of Islamic financial institutions worldwide has shot up astronomically, to over three hundred, with operations in seventy-five countries and assets in excess of US$400 billion. The purpose of this study is to explore the prospects and challenges of Islamic banking introduction in a non-Islamic country like Ghana. Design/Methodology: Data for the study was collected via an expert opinion of three Islamic scholars on Islamic banking from Ghana. Findings: Findings from this study indicates some of the benefits of Islamic banking includes connecting financial markets and economic activity, promoting the principle of financial justice, greater stability, avoiding economic bubbles (and bursts) and reducing the impact of harmful products and practices. The study also identified lack of experts in various fields of Islamic banking, product innovation, moral hazard, and need for experienced staff in Islamic banking as some of the challenges to Islamic banking system’s introduction. Contribution: The study contributes to literature on Islamic banking from a non-Islamic country like Ghana. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title="Islamic banking">Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%E2%80%99ah" title=" Shari’ah"> Shari’ah</a>, <a href="https://publications.waset.org/abstracts/search?q=Riba" title=" Riba"> Riba</a>, <a href="https://publications.waset.org/abstracts/search?q=conventional%20banking" title=" conventional banking"> conventional banking</a> </p> <a href="https://publications.waset.org/abstracts/129479/islamic-banking-in-ghana-prospects-and-challenges" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/129479.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">177</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1047</span> Islamic Financial Engineering: An Overview</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mahfoud%20Djebbar">Mahfoud Djebbar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=islamic%20financial%20engineering" title="islamic financial engineering">islamic financial engineering</a>, <a href="https://publications.waset.org/abstracts/search?q=hedging%20and%20risk%20management" title=" hedging and risk management"> hedging and risk management</a>, <a href="https://publications.waset.org/abstracts/search?q=innovation" title=" innovation"> innovation</a>, <a href="https://publications.waset.org/abstracts/search?q=securitization" title=" securitization"> securitization</a>, <a href="https://publications.waset.org/abstracts/search?q=money%20market%20instruments" title=" money market instruments"> money market instruments</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20capital%20markets" title=" islamic capital markets"> islamic capital markets</a> </p> <a href="https://publications.waset.org/abstracts/17514/islamic-financial-engineering-an-overview" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/17514.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">554</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1046</span> Risk Management in Islamic Banks: A Case Study of the Faisal Islamic Bank of Egypt</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohamed%20Saad%20Ahmed%20Hussien">Mohamed Saad Ahmed Hussien</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=conventional%20banks" title="conventional banks">conventional banks</a>, <a href="https://publications.waset.org/abstracts/search?q=Faisal%20Islamic%20Bank%20of%20Egypt" title=" Faisal Islamic Bank of Egypt"> Faisal Islamic Bank of Egypt</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banks" title=" Islamic banks"> Islamic banks</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20management" title=" risk management"> risk management</a> </p> <a href="https://publications.waset.org/abstracts/58497/risk-management-in-islamic-banks-a-case-study-of-the-faisal-islamic-bank-of-egypt" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/58497.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">459</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1045</span> Planning for a Sustainable Islamic City in Malaysia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Yazid%20M.%20Yunos">Mohd Yazid M. Yunos</a>, <a href="https://publications.waset.org/abstracts/search?q=R.%20Arinah"> R. Arinah</a>, <a href="https://publications.waset.org/abstracts/search?q=Nor%20Kalsum%20M.%20Isa"> Nor Kalsum M. Isa</a>, <a href="https://publications.waset.org/abstracts/search?q=U.%20Nangkula"> U. Nangkula</a>, <a href="https://publications.waset.org/abstracts/search?q=Nor%20A.%20Ismail"> Nor A. Ismail</a>, <a href="https://publications.waset.org/abstracts/search?q=Nor%20F.%20Ariffin"> Nor F. Ariffin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic City planning is a concept of optimizing the overall arrangement of land use without compromising community. The concept was influenced by the specific intentions in mind, applying certain ideological principles and objectives rooted in Islamic faith and Muslim culture using distinct design elements. Holy Quran and hadiths provide a foundation for understanding Islamic Principles as clearly shared by the established Islamic Cities such as Medina, Mecca and Jerusalem. This paper aimed to explore the principles and elements of an Islamic City through the review of relevant literature by the means of Content Analysis method. A theoretical framework of Islamic City Principles was then formulated to be the main outcome of the study. The finding is very important to be a useful starting point for future study, especially for formulating a clear guide for the development of upcoming Islamic City in Malaysia. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20principles" title="Islamic principles">Islamic principles</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20city%20planning" title=" sustainable city planning"> sustainable city planning</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20city" title=" Islamic city"> Islamic city</a>, <a href="https://publications.waset.org/abstracts/search?q=Malaysia" title=" Malaysia"> Malaysia</a> </p> <a href="https://publications.waset.org/abstracts/30459/planning-for-a-sustainable-islamic-city-in-malaysia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/30459.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">527</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1044</span> The Dubai World Islamic Finance Arbitration Center and Jurisprudence Office as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Camille%20Paldi">Camille Paldi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> As the Islamic finance industry is growing annually at a rate of 10% to 15% per year, it is imperative that a unique, independent legal framework is established in order to effectively adjudicate Islamic finance disputes. Currently, Islamic finance disputes are being adjudicated in inadequate civil and common law courts and arbitration centers where the contracts in dispute are being transformed from Islamic to conventional transactions. Through case analysis combined with an exploration of the efficacy of existing arbitration centers and dispute resolution methods available to Islamic finance, this paper will seek to reveal that the Islamic finance industry currently lacks an adequate dispute resolution mechanism and facility to adjudicate disputes arising from Islamic finance contracts. Hence, now is the time for the Dubai World Islamic Finance Arbitration Center (DWIFAC) and Jurisprudence Office (DWIFACJO) as the Dispute Resolution Center and Mechanism for the Islamic Finance Industry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20finance" title="Islamic finance">Islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=dispute%20resolution" title=" dispute resolution"> dispute resolution</a>, <a href="https://publications.waset.org/abstracts/search?q=Dubai%20world%20Islamic%20finance%20arbitration%20center" title=" Dubai world Islamic finance arbitration center"> Dubai world Islamic finance arbitration center</a>, <a href="https://publications.waset.org/abstracts/search?q=jurisprudence%20office" title=" jurisprudence office"> jurisprudence office</a> </p> <a href="https://publications.waset.org/abstracts/7004/the-dubai-world-islamic-finance-arbitration-center-and-jurisprudence-office-as-the-dispute-resolution-center-and-mechanism-for-the-islamic-finance-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/7004.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">413</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1043</span> Islamic Banking: An Ultimate Source of Financial Inclusion</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tasawar%20Nawaz">Tasawar Nawaz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Promotion of socioeconomic justice through redistribution of wealth is one of the most salient features of Islamic economic system. Islamic financial institutions known as Islamic banks are used to implement this in practice under the guidelines of Islamic <em>Shariah</em> law. Islamic banking systems strive to promote and achieve financial inclusion among the society by offering interest-free banking and risk-sharing financing solutions. <em>Shariah</em>-compliant micro finance is one of the most popular financial instruments used by Islamic banks to enhance access to finance. Benevolent loan (or <em>Qard-al-Hassanah</em>) is one of the popular financial tools used by the Islamic banks to promote financial inclusion. This aspect of Islamic banking is empirically examined in this paper with specific reference to firm’s resources, largely defined here as intellectual capital. The paper finds that Islamic banks promote financial inclusion by exploiting available resources especially, the human intellectual capital. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20inclusion" title="financial inclusion">financial inclusion</a>, <a href="https://publications.waset.org/abstracts/search?q=intellectual%20capital" title=" intellectual capital"> intellectual capital</a>, <a href="https://publications.waset.org/abstracts/search?q=Qard-al-Hassanah" title=" Qard-al-Hassanah"> Qard-al-Hassanah</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title=" Islamic banking"> Islamic banking</a> </p> <a href="https://publications.waset.org/abstracts/76052/islamic-banking-an-ultimate-source-of-financial-inclusion" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/76052.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">319</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1042</span> Comparing the Theory to the Practice of Islamic Banking: A Case Study of Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zareen%20Khan">Zareen Khan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic Banking has experienced high growth in Pakistan in recent years and has successfully survived the economic downturn of 2009-2011. Despite the increase in branch network and expansion of services, it is unclear if Islamic banks are truly following the theory and practical application of Shariah Law. This paper explores the theological basis of Islamic finance and examines the discrepancies between the theory and practice of Islamic banking using Pakistan as a case study. It discusses areas where Islamic banks lack proper Shariah compliance and analyzes the financial weaknesses of Islamic banks in terms of the services offered. Furthermore, the paper offers plausible explanations for the clientele of Islamic banks. The case study has three major findings. Firstly, most of the employees of Islamic banks come from conventional banking backgrounds and the banks have to invest in additional trainings to specialize employees in Islamic Banking. Secondly despite the efforts of State Bank of Pakistan, there is a lack of accounting and auditing standards tailored for Islamic Banking. Thirdly, majority of the clients of Islamic banks in Pakistan are accustomed to conventional banking causing the bankers to “speak the conventional banking language.” Combined, these three factors can create gaps in the practical application of Islamic finance in Islamic banks in Pakistan. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=islamic%20finance" title="islamic finance">islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=comparing%20theory%20with%20practice" title=" comparing theory with practice"> comparing theory with practice</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20banking" title=" islamic banking"> islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Pakistan" title=" Pakistan"> Pakistan</a> </p> <a href="https://publications.waset.org/abstracts/23023/comparing-the-theory-to-the-practice-of-islamic-banking-a-case-study-of-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/23023.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">462</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1041</span> Islamic Social Security: A Discourse</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Safiyya%20A.%20Abba">Safiyya A. Abba</a>, <a href="https://publications.waset.org/abstracts/search?q=Shehu%20U.%20R.%20Aliyu"> Shehu U. R. Aliyu </a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper deals with Islamic social security: a discourse explores the meaning and nature of Islamic social security system. The paper reviews the social security framework and operations during the early period. The paper further identifies the instruments of Islamic social security discusses its principles and objectives. The paper discovers that Islamic social security is a personification of a comprehensive welfare approach in view of its varied instruments that are deeply rooted in the Islamic law, unique principles and realistic and achievable objectives. Furthermore, the Islamic social security system has far reaching socioeconomic implications; social justice, cohesion, equity, a catalyst for poverty eradication, income redistribution, economic growth and development. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20social%20security" title="Islamic social security">Islamic social security</a>, <a href="https://publications.waset.org/abstracts/search?q=basic%20needs" title=" basic needs"> basic needs</a>, <a href="https://publications.waset.org/abstracts/search?q=zakat" title=" zakat"> zakat</a>, <a href="https://publications.waset.org/abstracts/search?q=socioeconomic%20justice" title=" socioeconomic justice"> socioeconomic justice</a>, <a href="https://publications.waset.org/abstracts/search?q=equity" title=" equity"> equity</a> </p> <a href="https://publications.waset.org/abstracts/4765/islamic-social-security-a-discourse" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/4765.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">440</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1040</span> Initial Concept of Islamic Social Entrepreneurship: Identification of Research Gap from Existing Model</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Adib%20Abd%20Muin">Mohd Adib Abd Muin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Social entrepreneurship has become a new phenomenon in a country in order to reduce social problems and eradicate poverty communities. However, the study based on Islamic social entrepreneurship from the social entrepreneurial activity is still new especially in the Islamic perspective. In addition, this research found that is lacking of model on social entrepreneurship that focus on Islamic perspective. Therefore, the objective of this paper is to identify the issues and research gap based on Islamic perspective from existing models and to develop a concept of Islamic social entrepreneurship according to Islamic perspective and Maqasid Shari’ah. The research method used in this study is literature review and comparative analysis from 11 existing models of social entrepreneurship. The research finding shows that 11 existing models on social entrepreneurship has been analyzed and it shows that the existing models on social entrepreneurship do not emphasize on Islamic perspective. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=component" title="component">component</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20entrepreneurship" title=" social entrepreneurship"> social entrepreneurship</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20perspective" title=" Islamic perspective"> Islamic perspective</a>, <a href="https://publications.waset.org/abstracts/search?q=research%20gap" title=" research gap"> research gap</a> </p> <a href="https://publications.waset.org/abstracts/18072/initial-concept-of-islamic-social-entrepreneurship-identification-of-research-gap-from-existing-model" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/18072.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">449</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1039</span> Commercial Law Between Custom and Islamic Law</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shimaa%20Abdel-Rahman%20Amin%20El-Badawy">Shimaa Abdel-Rahman Amin El-Badawy</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Commercial law is the set of legal rules that apply to business and regulates the trade of trade. The meaning of this is that the commercial law regulates certain relations only that arises as a result of carrying out certain businesses. which are business, as it regulates the activity of a specific sect, the sect of merchants, and the commercial law as other branches of the law has characteristics that distinguish it from other laws and various, and various sources from which its basis is derived from It is the objective or material source. the historical source, the official source and the interpretative source, and we are limited to official sources and explanatory sources. so what do you see what these sources are, and what is their degree and strength in taking it in commercial disputes. The first topic / characteristics of commercial law. Commercial law has become necessary for the world of trade and economics, which cannot be dispensed with, given the reasons that have been set as legal rules for commercial field.In fact, it is sufficient to refer to the stability and stability of the environment, and in exchange for the movement and the speed in which the commercial environment is in addition to confidence and credit. the characteristic of speed and the characteristic of trust, and credit are the ones that justify the existence of commercial law.Business is fast, while civil business is slow, stable and stability. The person concludes civil transactions in his life only a little. And before doing any civil action. he must have a period of thinking and scrutiny, and the investigation is the person who wants the husband, he must have a period of thinking and scrutiny. as if the person who wants to acquire a house to live with with his family, he must search and investigate. Discuss the price before the conclusion of a purchase contract. In the commercial field, transactions take place very quickly because the time factor has an important role in concluding deals and achieving profits. This is because the merchant in contracting about a specific deal would cause a loss to the merchant due to the linkage of the commercial law with the fluctuations of the economy and the market. The merchant may also conclude more than one deal in one and short time. And that is due to the absence of commercial law from the formalities and procedures that hinder commercial transactions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=law" title="law">law</a>, <a href="https://publications.waset.org/abstracts/search?q=commercial%20law" title=" commercial law"> commercial law</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20law" title=" Islamic law"> Islamic law</a>, <a href="https://publications.waset.org/abstracts/search?q=custom%20and%20Islamic%20law" title=" custom and Islamic law"> custom and Islamic law</a> </p> <a href="https://publications.waset.org/abstracts/170034/commercial-law-between-custom-and-islamic-law" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/170034.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">73</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1038</span> Methodology of Islamic Economics: Scope and Prospects</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ahmad%20Abdulkadir%20Ibrahim">Ahmad Abdulkadir Ibrahim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Observation of the methodology of Islamic economics laid down for the methods and instruments of analysis and even some of its basic assumptions in the modern world; is a matter that is of paramount importance. There is a need to examine the implications of different suggested definitions of Islamic economics, exploring its scope and attempting to outline its methodology. This paper attempts to deal with the definition of Islamic economics, its methodology, and its scope. It will outline the main methodological problem by addressing the question of whether Islamic economics calls for a methodology of its own or as an expanded economics. It also aims at drawing the attention of economists in the modern world to the obligation and consideration of the methodology of Islamic economics. The methodology adopted in this research is library research through the consultation of relevant literature, which focuses on the thematic study of the subject matter. This is followed by an analysis and discussion of the contents of the materials used. It is concluded that there is a certain degree of inconsistency in the way assumptions are incorporated that perhaps are alien to Islamic economics. The paper also observed that there is a difference between Islamic economists and other (conventional) economists in the profession. An important conclusion is that Islamic economists need to rethink what economics is all about and whether we really have to create an alternative to economics in the form of Islamic economics or simply have an Islamic perspective of the same discipline. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=methodology" title="methodology">methodology</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20economics" title=" Islamic economics"> Islamic economics</a>, <a href="https://publications.waset.org/abstracts/search?q=conventional%20economics" title=" conventional economics"> conventional economics</a>, <a href="https://publications.waset.org/abstracts/search?q=Muslim%20economists" title=" Muslim economists"> Muslim economists</a>, <a href="https://publications.waset.org/abstracts/search?q=framework" title=" framework"> framework</a>, <a href="https://publications.waset.org/abstracts/search?q=knowledge" title=" knowledge"> knowledge</a> </p> <a href="https://publications.waset.org/abstracts/162447/methodology-of-islamic-economics-scope-and-prospects" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/162447.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">128</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1037</span> Islamic Finance in Tunisia: Reality and Development</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Amira%20Kaddour">Amira Kaddour</a>, <a href="https://publications.waset.org/abstracts/search?q=Hedia%20Teraoui"> Hedia Teraoui</a>, <a href="https://publications.waset.org/abstracts/search?q=Khmayes%20Bougatef"> Khmayes Bougatef</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The main purpose of this paper is to determine the major causes of the underdevelopment of Islamic finance in Tunisia. Indeed, it’s surprising to note that Zitouna bank established in May 2010 is the first Islamic Tunisian bank although 99% of Tunisians are Muslim and Islam is the religion of the State according to the Constitution. So we rely in our paper on the opinions of number of professors of finance and economics as educated people to prove or reject our hypothesis that the underdevelopment of Islamic finance in Tunisia can be explained by the ignorance of its main principles and advantages. Ours findings reveal that this branch of finance is still largely unknown, not only from public but also from professionals. The results obtained surprisingly show that this insignificance of Islamic banking cannot be explained by the fact that Tunisia has been governed since its independence by a secular left-wing party. Indeed, only 3% of respondents believe that legislation and regulation in Tunisia represent an obstacle to the development of Islamic finance. Moreover, respondents are not very optimistic about the future role of Islamic financing. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title="Islamic banking">Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20insurance%20%28takaful%29" title=" Islamic insurance (takaful)"> Islamic insurance (takaful)</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20law%20%28shariah%29" title=" Islamic law (shariah)"> Islamic law (shariah)</a>, <a href="https://publications.waset.org/abstracts/search?q=usury%20%28riba%29" title=" usury (riba)"> usury (riba)</a> </p> <a href="https://publications.waset.org/abstracts/6104/islamic-finance-in-tunisia-reality-and-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/6104.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">365</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1036</span> Timbuktu Pattern of Islamic Education: A Role Model for the Establishment of Islamic Educational System in Sokoto Caliphate</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=A.%20M.%20Gada">A. M. Gada</a>, <a href="https://publications.waset.org/abstracts/search?q=H.%20U.%20Malami"> H. U. Malami</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Timbuktu is one of the eight regions in the present day the Republic of Mali. It flourished as one of the earliest centres of Islamic learning in West Africa in the eleventh century CE. The famous Islamic centre in Timbuktu is situated in the Sankore mosque, which is known to be one of the earliest established Islamic University. This centre produced scholars who were zealous in disseminating Islamic education to different parts of West Africa and beyond. As a result, most of these centres adopted the Timbuktu pattern of learning. Some of the beneficiaries of this noble activity are Muslim scholars which are responsible for the establishment of the Sokoto Caliphate in the early nineteenth century. This paper intends to reflect on the pattern of Islamic education of the Timbuktu scholars and see how it impacted on the Islamic centres of learning established by these Jihad-scholars who were successful in the establishment of an Islamic state known as the Sokoto Caliphate. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Timbuktu" title="Timbuktu">Timbuktu</a>, <a href="https://publications.waset.org/abstracts/search?q=Sankore" title=" Sankore"> Sankore</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20educational%20system" title=" Islamic educational system"> Islamic educational system</a>, <a href="https://publications.waset.org/abstracts/search?q=Sokoto%20Caliphate" title=" Sokoto Caliphate"> Sokoto Caliphate</a>, <a href="https://publications.waset.org/abstracts/search?q=centres%20of%20Islamic%20learning" title=" centres of Islamic learning"> centres of Islamic learning</a> </p> <a href="https://publications.waset.org/abstracts/5824/timbuktu-pattern-of-islamic-education-a-role-model-for-the-establishment-of-islamic-educational-system-in-sokoto-caliphate" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/5824.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">417</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1035</span> Islam’s Expediency; The Poison and the Antidote of Islamic Government</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mahdi%20Ebrahimi">Mahdi Ebrahimi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> One of the most effective factors that can empower and modernize the Islamic government according to the needs of society is the institution of expediency in Islamic governance. At the same time, not paying attention to the foundations and principles of Islamic governance may cause this factor to create the basis for corruption and totalitarianism of the rulers, which ultimately causes a gap between the people and the rulers and the emergence of whole government corruption and dictatorship. Meanwhile, there are specific principles in the doctrine of Islamic Governance that can prevent such an event from happening. Principles such as: remaining popular and pious by the Ulama, Amr Bil-Maroof Va Nahy An Al-Munkar (commanding the good and preventing the bad) by the individuals, the rule of frank criticism with loud voices and clarification and accountability in the fields that cause the corruption of those in charge. In this research, these principles are presented along with their Islamic basis. It is also stated what effect each of these cases will have on preserving Islam in the ruling system. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=expediency" title="expediency">expediency</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20ruling" title=" Islamic ruling"> Islamic ruling</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20principles" title=" Islamic principles"> Islamic principles</a>, <a href="https://publications.waset.org/abstracts/search?q=Islam" title=" Islam"> Islam</a> </p> <a href="https://publications.waset.org/abstracts/165483/islams-expediency-the-poison-and-the-antidote-of-islamic-government" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/165483.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">77</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1034</span> The Tense Dichotomy Between Shari'ah Compliance and the Goals of an Economic Bank</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Camille%20Paldi">Camille Paldi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The tense dichotomy between Shari’ah compliance and the economic goals of an Islamic Bank produces a proliferation of reverse engineered products, which are barely in compliance with Islamic law. The result is basically a hybrid conventional banking system with conventional products in Islamic disguise using Arabic and Islamic terminology. Many Islamic financial professionals and academics advocate for the use of conventional products and devices despite their non-Shari’ah compliance based on commercial necessity and the need to compete. However, this dangerous trend will lead to the demise of the Islamic finance industry. Rather than thoughtlessly following conventional products and practice, Islamic finance professionals should delve into the Shari’ah to find the answers to the current Islamic banking conundrum and lead the industry on the right path of developing Shari’ah based products and using Shari’ah devices to hedge risk. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title="Islamic banking">Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%27ah" title=" Shari'ah"> Shari'ah</a>, <a href="https://publications.waset.org/abstracts/search?q=finance" title=" finance"> finance</a>, <a href="https://publications.waset.org/abstracts/search?q=investment" title=" investment"> investment</a> </p> <a href="https://publications.waset.org/abstracts/7005/the-tense-dichotomy-between-shariah-compliance-and-the-goals-of-an-economic-bank" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/7005.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">347</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1033</span> Settlement of Dispute and the Islamic Financial Institutions</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yusuf%20Sani%20Abubakar">Yusuf Sani Abubakar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper investigates mechanisms of settlement of disputes at the Islamic Financial Institutions (IFIs). Dispute settlement at the Islamic Financial Institutions (IFIs) can be both through litigation as well as Alternative Dispute Resolution (ADR). The paper aims to investigate how disputes are settled at the Islamic Financial Institutions (IFIs), as it is natural to have disagreements between different parties involved in the business of Islamic Financial Institutions (IFIs). The paper adopts a qualitative methodology where the sources are taken from journals, books, websites etc. In analyzing the data obtained from the sources, content analysis will be used. In addition to writings on this topic by various writers, this paper will add to the literature and will recommend certain effective ways of solving disputes arising between parties participating in the business of Islamic Financial Institutions (IFIs). <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20finance" title="Islamic finance">Islamic finance</a>, <a href="https://publications.waset.org/abstracts/search?q=dispute%20resolution" title=" dispute resolution"> dispute resolution</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20financial%20institutions" title=" Islamic financial institutions"> Islamic financial institutions</a>, <a href="https://publications.waset.org/abstracts/search?q=litigation" title=" litigation"> litigation</a> </p> <a href="https://publications.waset.org/abstracts/154969/settlement-of-dispute-and-the-islamic-financial-institutions" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/154969.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">166</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1032</span> Value Analysis of Islamic Banking and Conventional Banking to Measure Value Co-Creation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Amna%20Javed">Amna Javed</a>, <a href="https://publications.waset.org/abstracts/search?q=Hisashi%20Masuda"> Hisashi Masuda</a>, <a href="https://publications.waset.org/abstracts/search?q=Youji%20Kohda"> Youji Kohda</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study examines the value analysis in Islamic and conventional banking services in Pakistan. Many scholars have focused on co-creation of values in services but mainly economic values not non-economic. As Islamic banking is based on Islamic principles that are more concerned with non-economic values (well-being, partnership, fairness, trust worthy, and justice) than economic values as money in terms of interest. This study is important to know the providers point of view about the co-created values, because, it may be more sustainable and appropriate for today’s unpredictable socioeconomic environment. Data were collected from 4 banks (2 Islamic and 2 conventional banks). Text mining technique is applied for data analysis, and values with 100% occurrences in Islamic banking are chosen. The results reflect that Islamic banking is more centric towards non-economic values than economic values and it promotes team work and partnership concept by applying Islamic spirit and trust worthiness concept. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20values" title="economic values">economic values</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title=" Islamic banking"> Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=non-economic%20values" title=" non-economic values"> non-economic values</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20system" title=" value system"> value system</a> </p> <a href="https://publications.waset.org/abstracts/2430/value-analysis-of-islamic-banking-and-conventional-banking-to-measure-value-co-creation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/2430.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">462</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1031</span> Implementation of 'Bay Al-Salam' in Agricultural Banking of Bangladesh: An Islamic Banking Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20Obydul%20Haque%20Kamaly">M. Obydul Haque Kamaly</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper aims to provide a brief discussion on bay al-salam as a method of implementing Islamic Banking in the agricultural arena of Bangladesh. For this purpose, the nature and conditions of bay al-salam contracts will be first discussed. Next, the paper will focus on the comparison between conventional banks and Islamic banks and should answer how bay al-salam can be used as a popular method in agricultural transactions in the country. The paper is based on secondary data which is to describe bay al-salam as future proceedings for Islamic banking. Evidence suggests Islamic banking is very much practiced like modern conventional banking with certain restrictions imposed by Sharia and addresses a large number of business requirements successfully. Thus, it’s time for us to implement Islamic banking (bay al-salam) on our agricultural arena and to get most benefits from them. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bay%20al-salam" title="bay al-salam">bay al-salam</a>, <a href="https://publications.waset.org/abstracts/search?q=agricultural%20banking" title=" agricultural banking"> agricultural banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking" title=" Islamic banking"> Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=implementation" title=" implementation"> implementation</a> </p> <a href="https://publications.waset.org/abstracts/76421/implementation-of-bay-al-salam-in-agricultural-banking-of-bangladesh-an-islamic-banking-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/76421.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">263</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1030</span> Performance Assessment of Islamic Banks in the Light of Maqasid Al-Shariah</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Asma%20Ammar">Asma Ammar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Being different in theory and practice from their conventional counterparts, this research aims to assess the performance of Islamic banks beyond the financial performance by emphasizing their ethical and social identity based on the higher purposes of Islamic law, namely Maqasid al-Shariah. Using Imam al-Ghazali’s theory of Maqasid al-Shariah and Sekaran’s (2000) method, we develop a Maqasid-based index including the five objectives of Shariah (preservation of life, religion, intellect, posterity, and wealth). Our sample covers 9 Islamic banks considered among the largest Islamic banks in the world. For the five years of study (2017-2021), our results reveal that the highest score is performed by Bank Muamalat while the least score is given to Dubai Islamic Bank. The overall Maqasid performance of the sample is unimpressive, indicating that there is a lack of achievement in Maqasid al-Shariah performance of Islamic banks. Consequently, serious measures should be taken by Islamic banks to improve their Maqasid performance and thus contribute effectively to the socio-economic development of the countries in which they operate. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Maqasid%20al-Shariah" title="Maqasid al-Shariah">Maqasid al-Shariah</a>, <a href="https://publications.waset.org/abstracts/search?q=Maqasid%20al-Shariah%20index" title=" Maqasid al-Shariah index"> Maqasid al-Shariah index</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banks" title=" Islamic banks"> Islamic banks</a>, <a href="https://publications.waset.org/abstracts/search?q=performance%20assessment" title=" performance assessment"> performance assessment</a> </p> <a href="https://publications.waset.org/abstracts/163513/performance-assessment-of-islamic-banks-in-the-light-of-maqasid-al-shariah" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/163513.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">76</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">‹</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=custom%20and%20Islamic%20law&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=custom%20and%20Islamic%20law&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=custom%20and%20Islamic%20law&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=custom%20and%20Islamic%20law&page=5">5</a></li> 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