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practices</title> <meta name="description" content="Search results for: Islamic practices"> <meta name="keywords" content="Islamic practices"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block d-lg-none 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="Islamic practices"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 5228</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: Islamic practices</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5228</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">5227</span> Perceptions of Islamic Education Teachers on the Implementation of 21st Century Learning Practices</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hafizul%20Rasdi">Hafizul Rasdi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study was conducted to find out the perceptions of Islamic Education teachers on the implementation of 21st century learning practices in Kuching, Sarawak. This study uses the field method. Eight respondents were selected based on the interviews and focus group discussions conducted among teachers in four primary school in Kuching, Sarawak. This study is focused to find out the perceptions of Islamic Education teachers on the implementation of 21st century learning as well as the importance of 21st century learning in the subject of Islamic Education. Data were collected using library research, semi-structured interview transcripts and focus group discussions. Data analysis methods used was descriptive analysis. The findings of the study have shown that Islamic Education teachers in primary school in Kuching, Sarawak agreed on the implementation of 21st Century Learning Practices in Islamic Education subject. The finding also show that the application of 21st Century Learning Practices in the subject of Islamic Education can help improve students mastery of the subject. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=perceptions" title="perceptions">perceptions</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20education" title=" Islamic education"> Islamic education</a>, <a href="https://publications.waset.org/abstracts/search?q=21st%20century%20learning%20practices" title=" 21st century learning practices"> 21st century learning practices</a>, <a href="https://publications.waset.org/abstracts/search?q=teachers" title=" teachers"> teachers</a> </p> <a href="https://publications.waset.org/abstracts/162924/perceptions-of-islamic-education-teachers-on-the-implementation-of-21st-century-learning-practices" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/162924.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">67</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">5226</span> Affinity between Sociology and Islamic Economy: An Inquiry into the Possibilities of Social Constructivism</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hideki%20Kitamura">Hideki Kitamura</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Since Islamic banking has broadly started in the late 1970s, Islamic economy has been paid much attention by both academia and the business world. However, despite abundant studies, descriptive exploration of practices of Islamic economy from a sociological/anthropological perspective is underrepresented, and most are basically designed for evaluating current practice or proposing ideal types of Islamic economy in accordance with their religious conviction. Overall, their interest is not paid to actors of Islamic economy such as practitioner’s decision-making and thought, while sociological/anthropological studies on Muslim’s religious life can be observed well. Herein, the paper aims to look into the possibilities of sociology/anthropology for exploration of the role of actors of Islamic economy, by revisiting the benefit of sociological/anthropological studies on the religion of Islam and its adaptability to the research on Islamic economy. The paper suggests that practices of Islamic economy can be assumed as results of practitioner’s dilemma between Islamic ideals and market realities in each society, by applying the perspective of social constructivism. The paper then proposes focusing on the human agency of practitioners in translating Islamic principles into economic behavior, thereby enabling a more descriptive inquiry into how Islamic economy is produced and operated. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20economy" title="Islamic economy">Islamic economy</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20sociology%2Fanthropology" title=" economic sociology/anthropology"> economic sociology/anthropology</a>, <a href="https://publications.waset.org/abstracts/search?q=human%20agency" title=" human agency"> human agency</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20constructivism" title=" social constructivism"> social constructivism</a> </p> <a href="https://publications.waset.org/abstracts/103639/affinity-between-sociology-and-islamic-economy-an-inquiry-into-the-possibilities-of-social-constructivism" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/103639.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">158</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">5225</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">5224</span> Incorporation of Hibah as a Catalyst for Channelling Profits and Compensations in Islamic Transactions </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ameen%20Alshugaa">Ameen Alshugaa</a>, <a href="https://publications.waset.org/abstracts/search?q=Farrukh%20Habib"> Farrukh Habib</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Shariah (the Islamic law) sanctions a plethora of profit-sharing arrangements for financial transactions. However, when it comes to the practice of Islamic banking, it is felt by the scholars and practitioners that many of these arrangements often fail to compensate different parties of a financial transaction compared to conventional banking, due to the Riba (interest / usury) element. This issue is caused by the parties inability to codify these compensations in any contract so as to avoid Riba. Here, hibah (gift) may be regarded as one of the solutions. In essence, hibah is a unilateral charity contract where a party voluntarily gives away something to another party without any counter value. This paper attempts to analyse theoretical and practical aspects of hibah from the perspective of Islamic law, enunciating its legality and detailing its allowance in Islamic banking. It also discusses several practices evaluating the role of hibah in resolving issues related to Riba. In particular, these practices demonstrate the validity of hibah as a way to distribute revenues and compensate parties in Islamic financial transactions, while achieving competitive advantage over conventional banking, and avoiding the element of Riba. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=hibah%20%28gift%29" title="hibah (gift)">hibah (gift)</a>, <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%20Law%20of%20Contract" title=" Islamic Law of Contract"> Islamic Law of Contract</a>, <a href="https://publications.waset.org/abstracts/search?q=profit%20distribution" title=" profit distribution"> profit distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=Shariah" title=" Shariah"> Shariah</a> </p> <a href="https://publications.waset.org/abstracts/50778/incorporation-of-hibah-as-a-catalyst-for-channelling-profits-and-compensations-in-islamic-transactions" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50778.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">301</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">5223</span> Human Resource Management from Islamic Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Qamar%20Ul%20Haq">Qamar Ul Haq</a>, <a href="https://publications.waset.org/abstracts/search?q=Talat%20Hussain"> Talat Hussain</a>, <a href="https://publications.waset.org/abstracts/search?q=Mufti%20Fahad%20Ahmed%20Qureshi"> Mufti Fahad Ahmed Qureshi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> From the Islamic perspective, managing human resource meets various challenges, especially in the modern organizations. The adoption of Western practices in various aspects of management have caused gaps in justice, trustworthy, responsibility and other values of workers in Muslim countries. Thus, the interference of Islamic principles in human resource management (HRM) can be considered as a great solution for treating employees fairly and justly. This research aims to examine the level of Islamic practices in HRM, in which includes recruitment and selection, training and development, career development, performance management and rewards. The paper will analyze the relationships between HRM practices and organizational justice which focus on three elements, which are distributive justice, procedure justice and interactional justice. The data will be collected from selected Malaysian Government-Linked Company (GLC). Convenience sampling will be used to select the respondents for completing questionnaires. This conceptual paper essentially provides organizations with effective ways of understanding and implementing HRM by using Islamic principles. It also can be used as guidance for decision-making and day-today HR activities and will help organization to face uncertainties in the business world as well. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=human%20resource%20management" title="human resource management">human resource management</a>, <a href="https://publications.waset.org/abstracts/search?q=organizational%20justice" title=" organizational justice"> organizational justice</a>, <a href="https://publications.waset.org/abstracts/search?q=Islam" title=" Islam"> Islam</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/34669/human-resource-management-from-islamic-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/34669.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">5222</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">5221</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">5220</span> Impact of Islamic Hr Practices on Job Satisfaction: An Empirical Study of Banking Sector in Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Naheed%20Malik">Naheed Malik</a>, <a href="https://publications.waset.org/abstracts/search?q=Waheed%20Akhtar"> Waheed Akhtar </a> </p> <p class="card-text"><strong>Abstract:</strong></p> An introduction to the Islamic move towards the managing human resource is a preliminary attempt to provide managers with a useful way of managing and accepting employees. This knowledge would be helpful to even non-Muslim managers. Muslim managers are required not to know only the Islamic HR but also it is expected from them to apply the Islamic approach in managing the employees. Human resource is considered the most substantial asset of organizations. Studies have recommended that successful human resource management (HRM) leads to positive attitudes and behaviors at the workplace. On the contrary, unproductive use of human resources results in negative penalty in the form of lower job satisfaction, lower commitment, or even high employee turnover and even poor workforce quality.The study examined the Impact of Islamic HR practices on job satisfaction. Islamic HR variables encompass the aspects of performance appraisal, training and development, selection and recruitment. Data was obtained via self –administered questionnaires distributed among the employees of Banks in Pakistan which are practicing Islamic Banking. The sampling method employed was purposive sampling.Based on 240 responses obtained ,the study revealed that Islamic HRM deliberates the 40per cent of the variances in Job satisfaction .All variables excluding recruitment were found to be substantially pertinent to the dependent variable. The study also meditated the implications for future studies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=islamic%20HRM" title="islamic HRM">islamic HRM</a>, <a href="https://publications.waset.org/abstracts/search?q=job%20satisfaction" title=" job satisfaction"> job satisfaction</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20and%20conventional%20banks" title=" islamic and conventional banks"> islamic and conventional banks</a>, <a href="https://publications.waset.org/abstracts/search?q=Pakistan" title=" Pakistan"> Pakistan</a> </p> <a href="https://publications.waset.org/abstracts/35145/impact-of-islamic-hr-practices-on-job-satisfaction-an-empirical-study-of-banking-sector-in-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35145.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">296</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">5219</span> An Empirical Study of Shariah Legitimacy of Islamic Banking Operations in Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Khaleequzzaman">Muhammad Khaleequzzaman</a>, <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Mansoori"> Muhammad Mansoori</a>, <a href="https://publications.waset.org/abstracts/search?q=Abdul%20Rashid"> Abdul Rashid</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The legitimacy of Islamic banking refers to the compliance with the precepts of Shariah (Islamic law) of the pronouncements and their implementation, requisites of various contracts, as well as, observance of the welfare objectives. Therefore, the Islamic banks are supposed to follow the Islamic values focused to bring benefit to the society alongside the commercial motive. These distinguishing features establish identity of the Islamic banks separate from their conventional counterparts and require pursuing normative values of Islamic injunctions instead of profit maximization merely through commercial motive. Given this, the efficiency of the Islamic banks should be evaluated against the value judgements prescribed by the Islamic economic philosophy and their role in establishing the just economy. Nevertheless, the empirical evidence on such value-oriented role of Islamic banking is limited that is filled by this research. The primary focus of the research is two folds; developing a theoretical framework that affords a holistic approach of Shariah legitimacy of Islamic banking practices, including welfare pursuits in addition to the usual compliance mechanism, to help evaluating legitimacy of Islamic banking practices in Pakistan. Therefore, the research has been commissioned by developing the constructs of Shariah legitimacy through extensive review of the relevant literature. At the same time, the empirical analysis based on the opinion of 836 customers of Islamic and conventional banks in all the four provinces and the capital city of Pakistan has produced important conclusions regarding their perception about legitimacy of the Islamic banking practices. The results have helped to know as to how the legitimacy through Shariah perspective is viewed by them. The data analysis using various statistical techniques has yielded results consistent with the objectives of the study. The key findings of the theoretical framework conclude that the value judgements have been grossly ignored by the Islamic banks. The empirical research achieves that about half of the customers perceived Islamic banking as Shariah legitimate. On overall basis, the other half viewed contrary to this or preferred to remain indifferent. There is a need that Islamic banks should look into the desired goals of Shariah legitimacy in both contexts; the value judgement and the perception of the customers. <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=Shariah%20legitimacy" title=" Shariah legitimacy"> Shariah legitimacy</a>, <a href="https://publications.waset.org/abstracts/search?q=Maqasid%20al%20Shariah%20%28higher%20purposes%20of%20the%20lawgiver%29" title=" Maqasid al Shariah (higher purposes of the lawgiver)"> Maqasid al Shariah (higher purposes of the lawgiver)</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20judgment" title=" value judgment"> value judgment</a>, <a href="https://publications.waset.org/abstracts/search?q=distributive%20justice" title=" distributive justice"> distributive justice</a> </p> <a href="https://publications.waset.org/abstracts/63462/an-empirical-study-of-shariah-legitimacy-of-islamic-banking-operations-in-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/63462.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">411</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">5218</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">5217</span> A Critical Analysis of the Financial Reporting Practices of Islamic Financial Institutions (IFI)</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Riaz%20Dhai">Riaz Dhai</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The inherent differences between Islamic and conventional finance have given rise to a debate on whether conventional accounting standards provide sufficient disclosure in the annual financial statements of Islamic financial institutions (IFI). This issue has become more pronounced due to the rapid growth of IFIs over the last decade. This paper seeks to collate the literature surrounding this debate as well as summarise the key macro and micro level financial reporting differences between conventional and Islamic accounting. Based on these findings we propose some important areas of future research in this emerging field. <p class="card-text"><strong>Keywords:</strong> <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=financial%20reporting" title=" financial reporting"> financial reporting</a>, <a href="https://publications.waset.org/abstracts/search?q=critical%20analysis" title=" critical analysis"> critical analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=conventional%20accounting%20standards" title=" conventional accounting standards"> conventional accounting standards</a> </p> <a href="https://publications.waset.org/abstracts/26399/a-critical-analysis-of-the-financial-reporting-practices-of-islamic-financial-institutions-ifi" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/26399.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">446</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">5216</span> The Islamic Advertising Standardisation Revisited of Food Products</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nurzahidah%20Haji%20Jaapar">Nurzahidah Haji Jaapar</a>, <a href="https://publications.waset.org/abstracts/search?q=Anis%20Husna%20%20Abdul%20Halim"> Anis Husna Abdul Halim</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Faiz%20%20Mohamed%20Yusof"> Mohd Faiz Mohamed Yusof</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Dani%20%20Muhamad"> Mohd Dani Muhamad</a>, <a href="https://publications.waset.org/abstracts/search?q=Sharifah%20Fadylawaty%20%20Syed%20Abdullah"> Sharifah Fadylawaty Syed Abdullah</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The growing size of Muslim is recognised with significant increasing of purchasing power in the market. The realm of trade and business has embedded religious values as the new market segments are emerging in offering food products to meet needs and demands of Muslim consumer. The emergence of new market in food industry, advertising is charged with all sort of negative effects includes promoting controversial unsafety and harmful products, wasteful spending and exploiting women and kids. Therefore, this research attempts to examine between previous examinations of advertising standardisation in ancient era and current practices in the market. This paper is based on content analysis of the literature. The results show that there are a bridge gap between the implementation of practices as the advent in industrial 4.0 in using digital advertising by food industry. Thus, this paper is able to recognize the differences between two era and significant in determining the best practices in advertising by following Islamic principles. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20advertising" title="Islamic advertising">Islamic advertising</a>, <a href="https://publications.waset.org/abstracts/search?q=unethical%20advertising" title=" unethical advertising"> unethical advertising</a>, <a href="https://publications.waset.org/abstracts/search?q=ethical%20advertising" title=" ethical advertising"> ethical advertising</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20principles" title=" Islamic principles "> Islamic principles </a> </p> <a href="https://publications.waset.org/abstracts/129150/the-islamic-advertising-standardisation-revisited-of-food-products" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/129150.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">149</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">5215</span> Toward Green Islamic Finance: A Case Study from an Emirati Islamic Bank</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nada%20Hamed">Nada Hamed</a>, <a href="https://publications.waset.org/abstracts/search?q=Mariam%20Aldhaheri"> Mariam Aldhaheri</a>, <a href="https://publications.waset.org/abstracts/search?q=Sonia%20Abdennadher"> Sonia Abdennadher</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic Finance is not a new term that emerging in the global market, but it is still under scope by many countries. Its characteristics and regulation are not widely clear and implemented. In 2015, The United Nation announced a plan about potential benefits of using Islamic Finance as a sustainable development approach. Enhancing its application in financial markets could protect from unexpected crisis that might be created from the traditional tools of finance. This paper focuses on this area to test if Islamic finance could be used for maintaining sustainable development and if the term of 'Green Islamic Finance' could be implemented to minimize the deficiencies and 'pollution’ generated from traditional techniques and tools of finance. This paper intends to measure the impact on financial performance and sustainability when financial institutions use Islamic finance or better practice it. The objective of this explanatory research is to measure the performance of Islamic Finance with using a case study of an Islamic bank. The paper would analyze and compare the behavior of financial institutions that used traditional financing tools and converted to Islamic banking system. The methodology used is based on a case study of an Islamic bank in Dubai with comparing its performance before implementing Islamic Finance and after. The selected case study represents the first national bank in Emirates Arab Unis who adopt the Islamic finance approach. Based on a time series analysis, a quantitative analysis would be also used through looking at various set of ratios that are routinely used to measure bank performance. <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=financial%20stability" title=" financial stability"> financial stability</a>, <a href="https://publications.waset.org/abstracts/search?q=green%20finance" title=" green finance"> green finance</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20finance%20practices" title=" Islamic finance practices"> Islamic finance practices</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20ratios" title=" financial ratios"> financial ratios</a> </p> <a href="https://publications.waset.org/abstracts/80521/toward-green-islamic-finance-a-case-study-from-an-emirati-islamic-bank" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/80521.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">225</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">5214</span> Perceptions of Corporate Governance and Business Ethics Practices in Kuwaiti Islamic and Conventional Banks</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Khaled%20Alotaibi">Khaled Alotaibi</a>, <a href="https://publications.waset.org/abstracts/search?q=Salah%20Alhamadi"> Salah Alhamadi</a>, <a href="https://publications.waset.org/abstracts/search?q=Ibraheem%20Almubarak"> Ibraheem Almubarak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The study attempts to explore both corporate governance (GC) and business ethics (BE) practices in Kuwaiti banks and the relationship between CG and BE, using an accountability framework. By examining the perceptions of key stakeholder groups, this study investigates the practices of BE and CG in Islamic banks (IBs) compared to conventional banks (CBs). We contribute to the scarce studies concerned with relations between CG and BE. We have employed a questionnaire survey method for a random sample of crucial relevant stakeholder groups. The empirical analysis of the participants’ perceptions highlights the importance of applying CG regulations and BE for Kuwaiti banks and the clear link between the two concepts. We find that the main concern is not the absence of CG and BE codes, but the lack of consistent enforcement of the regulations. Such a system needs to be strictly and effectively implemented in Kuwaiti banks to protect all stakeholders’ wealth, not only that of stockholders. There are significant patterns in the CG and BE expectations among different stakeholder groups. Most interestingly, banks’ client groups illustrate high expectations concerning CG and BE practices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title="corporate governance">corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=GC" title=" GC"> GC</a>, <a href="https://publications.waset.org/abstracts/search?q=business%20ethics" title=" business ethics"> business ethics</a>, <a href="https://publications.waset.org/abstracts/search?q=BE" title=" BE"> BE</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=IBs" title=" IBs"> IBs</a>, <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=CBs" title=" CBs"> CBs</a>, <a href="https://publications.waset.org/abstracts/search?q=accountability" title=" accountability"> accountability</a> </p> <a href="https://publications.waset.org/abstracts/116002/perceptions-of-corporate-governance-and-business-ethics-practices-in-kuwaiti-islamic-and-conventional-banks" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/116002.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">155</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">5213</span> Challenging in Public Acceptability of Islamic Banking</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Ali%20Khan">Muhammad Ali Khan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Although most Muslims are aware that Riba is a great sin in Islamic Shariah, they still do not find themselves inclined toward Islamic banking for their financial needs/activities/requirements. The main purpose of this research work is to analyse the general trend of people's views and miss conceptions among them regarding Islamic Banking and therefore suggest promoting Islamic banking. Scholars believe that Islamic finance is more stable than conventional banking because of the nature of its banking practices, which are based on real assets or partnerships. This is why Islamic banking is growing fastly worldwide, particularly in the wake of global financial crisis. Even though the scope of Islamic banking is expanding on a daily basis yet, it is not gaining the popularity it deserves. Islam declares war against Allah and his last messenger Hazrat Muhammad (PBUM) as it is a great sin and strictly forbids all interest-based transactions. Holy Quran revealed, O you who believe, do not eat up the amounts acquired through Riba (interest), doubled and multiplied. Fear Allah, so that you may be successful. Therefore a, true Muslim who believe in Judgement day always make all efforts in their life to avoid gambling and other speculative activities like Riba for themselves and their loved ones. If a Muslim does not fight against Riba to protect himself and his family, then his faith is meaningless. Allah issues warnings at numerous places in the holy Quran regarding Riba and its sin. Thus, Islamic banking is an alternative banking system where banking transactions are based on Islamic principles. The major component of Islamic Banking is Profit and loss sharing (PLS), as well as ensuring economic justice and equity. <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=Riba" title=" Riba"> Riba</a>, <a href="https://publications.waset.org/abstracts/search?q=interest" title=" interest"> interest</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20crises" title=" financial crises"> financial crises</a> </p> <a href="https://publications.waset.org/abstracts/178779/challenging-in-public-acceptability-of-islamic-banking" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/178779.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">63</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">5212</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">5211</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">5210</span> Commerce and Islamic Banking System</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rahmoune%20Abdelhaq">Rahmoune Abdelhaq</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Systemic Islamic banking has been in practice for long but started receiving due attention and high popularity since last decade. It has received a warm welcome from all over the world and these banks operating on Islamic principles have been able to get a sizeable business not only in Islamic countries but in non-Islamic countries too. Despite exemplary advancements and achievements, there remains number of controversies over various underlying concepts and practices. This paper basically explores and highlights all those controversies and challenges which are in minds of different school of thoughts and are needed to be addressed and overcome if Islamic banking continues flourishing the way it is at present. The authors have also tried to suggest suitable remedies to overcome these challenges where appropriate. As well, This paper makes an attempt to review major principles surrounding the working of Islamic banking and its historical growth. A brief overview of main differences between the Islamic banking and the conventional banking. In addition, references are particularly made to implications arising from the emergence of e-commerce and the realities that the Islamic Shari’ah law has to consider in adopting the new phenomenon into its banking system. This paper shows, whilst the conventional banking and financial system is based on the principle of rationality and interest, the Islamic financial system is based on morality and social justice which prohibits interest as a means of speculation and injustice. The concepts of e-business such as e-commerce and e-banking are acceptable in Islam as since in Islam anything is halal unless prohibited by Shari’ah, dealing with business by internet is considered as Shari’ah compliant. This paper, therefore, provides the latest thinking of e-business from an Islamic viewpoint, thus creating a reference point and valued information for a future research. <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=principles%20of%20Islamic%20banking" title=" principles of Islamic banking"> principles of Islamic banking</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20commerce" title=" Islamic commerce"> Islamic commerce</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%E2%80%99ah%20compliant" title=" Shari’ah compliant"> Shari’ah compliant</a> </p> <a href="https://publications.waset.org/abstracts/34581/commerce-and-islamic-banking-system" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/34581.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">410</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">5209</span> Empirical Research on Rate of Return, Interest Rate and Mudarabah Deposit </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Inten%20Meutia">Inten Meutia</a>, <a href="https://publications.waset.org/abstracts/search?q=Emylia%20Yuniarti"> Emylia Yuniarti</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objective of this study is to analyze the effects of interest rate, the rate of return of Islamic banks on the amount of mudarabah deposits in Islamic banks. In analyzing the effect of rate of return in the Islamic banks and interest rate risk in the conventional banks, the 1-month Islamic deposit rate of return and 1 month fixed deposit interest rate of a total Islamic deposit are considered. Using data covering the period from January 2010 to Sepember 2013, the study applies the regression analysis to analyze the effect between variable and independence t-test to analyze the mean difference between rate of return and rate of interest. Regression analysis shows that rate of return have significantly negative influence on mudarabah deposits, while interest rate have negative influence but not significant. The result of independent t test shows that the interest rate is not different from the rate of return in Islamic Bank. It supports the hyphotesis that rate of return in Islamic banking mimic rate of interest in conventional bank. The results of the study have important implications on the risk management practices of the Islamic banks in Indonesia. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=conventional%20bank" title="conventional bank">conventional bank</a>, <a href="https://publications.waset.org/abstracts/search?q=interest%20rate" title=" interest rate"> interest rate</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20bank" title=" Islamic bank"> Islamic bank</a>, <a href="https://publications.waset.org/abstracts/search?q=rate%20of%20return" title=" rate of return"> rate of return</a> </p> <a href="https://publications.waset.org/abstracts/8419/empirical-research-on-rate-of-return-interest-rate-and-mudarabah-deposit" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/8419.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">512</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">5208</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">5207</span> Bridging between Shariah Law and Legal Framework: A Study of Problems and Solutions of Islamic Banking System in Bangladesh</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Md.%20Abdul%20Kader">Md. Abdul Kader</a>, <a href="https://publications.waset.org/abstracts/search?q=Md.%20Akiz%20Uddin"> Md. Akiz Uddin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Islamic banking system is based on the Islamic shariah principles. Islamic banking is set up to avoid riba (interest)--which is prohibited in Islam-- and to prevent unscrupulous practices and participate actively in achieving the welfare-oriented Islamic economy. In the process of offering Islamic banking services, practitioners have been facing several challenges. Out of many challenges, this paper particularly highlights the need for a centralized legal framework for Islamic banks that should be compliant with the shariah law. The researchers employed a qualitative method to collect case studies from high-profile Islamic Bankers and analyzed respective legal documents and policy papers to conduct the study. This study investigates the Shariah Governance Framework (SGF), amended Banking Companies Act, 1991 (Act No. 14 of 1991), and the Shariah Supervisory Board (SSB) of Islamic banks in Bangladesh to evaluate how legal framework supervise and/or monitor Islamic banking system under the jurisdiction of shariah law. The study reveals that the Shariah governance system in Bangladesh is mainly voluntary rather than regulatory, and there is an absence of full-fledged SGF. Though there is no complete Islamic Banking Act for controlling, guiding, and supervising the Islamic banks in Bangladesh, some Islamic banking provisions have already been incorporated in the amended Banking Companies Act, 1991 (Act No. 14 of 1991). Bangladesh Bank did not set up any separate Department at its Head Office to control, guide and supervise the operation of the Islamic banks. So, ensuring the implementation of Shariah principles concurrent with the legal framework of banking policies is recommended in this study. This study also prescribes that the government should enact a law or policy for the operations of Islamic banks in order to improve the Islamic Banking system of Bangladesh. In addition, the central bank can set up a Central Shariah Supervisory Board (CSSB) or authorize the existing Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) to supervise and monitor overall activities of Islamic banks and resolve the disputes among the stakeholders concerning the Shariah issues of Islamic banks. <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=shariah%20law" title=" shariah law"> shariah law</a>, <a href="https://publications.waset.org/abstracts/search?q=banking%20policies" title=" banking policies"> banking policies</a>, <a href="https://publications.waset.org/abstracts/search?q=shariah%20governance%20framework%20%28SGF%29" title=" shariah governance framework (SGF)"> shariah governance framework (SGF)</a> </p> <a href="https://publications.waset.org/abstracts/164858/bridging-between-shariah-law-and-legal-framework-a-study-of-problems-and-solutions-of-islamic-banking-system-in-bangladesh" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/164858.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">72</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">5206</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">5205</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">5204</span> Governance Structure of Islamic Philanthropic Institution: Analysis of Corporate WAQF in Malaysia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nathasa%20Mazna%20Ramli">Nathasa Mazna Ramli</a>, <a href="https://publications.waset.org/abstracts/search?q=Nurul%20Husna%20Mohd%20Salleh"> Nurul Husna Mohd Salleh</a>, <a href="https://publications.waset.org/abstracts/search?q=Nurul%20Aini%20Muhamed"> Nurul Aini Muhamed</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study focuses on the governance of an Islamic philanthropic institution in Malaysia. Specifically, the internal governance structure of corporate Islamic endowment, or waqf, is being analysed. The purposes of waqf are to provide continuous charity that could generate perpetual income flow for the needy. This study is based on the principle of MCCG 2012, Shariah Governance Framework and charity governance. This study utilises publicly available data to examine the internal governance structure of a corporate waqf. This study finds that the Islamic philanthropic Institution practices, to some extent, have a sound governance structure to discharge their transparency and accountability. Furthermore, findings also showed that though governance structure is in place, most of the structures are not disclosed in the annual reports of the company. Findings from the study could extend the knowledge in these areas and stimulate further research on the governance of Islamic philanthropic institutions, particularly for corporate waqf. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accountability" title="accountability">accountability</a>, <a href="https://publications.waset.org/abstracts/search?q=governance" title=" governance"> governance</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20philanthropic" title=" Islamic philanthropic"> Islamic philanthropic</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20waqf" title=" corporate waqf "> corporate waqf </a> </p> <a href="https://publications.waset.org/abstracts/23809/governance-structure-of-islamic-philanthropic-institution-analysis-of-corporate-waqf-in-malaysia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/23809.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">566</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">5203</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">5202</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">5201</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">5200</span> Exploring the Potentials of Adapting Philosophical Principles as a Generative Source for Islamic Creative Expression</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tamadher%20Alfahal">Tamadher Alfahal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Faith and art practice in traditional Islam had a profound rapport that is lost today. From practicing the principles of faith throughout everyday life, art was found as an expressive tool for Islamic revelation, worship, and the contemplative remembrance of God. Today, this rapport between Islamic art and spirituality has diminished; and the cosmological and metaphysical ideas that were the core of creative practices lost their imminence in people's lives. Hence, the cultural and religious practice of Islamic societies became separate from the creative production. In an attempt to revisit this rapport, it is sought to investigate the possibility of creating a set of principles for contemporary Islamic art and design through collaborative practice-led research. The research will aim to regenerate the potentials of Islamic philosophy for creative expressions, particularly in design studies. The outcomes will be manifested through different mediums such as: reflexive mind maps and visuals by the researcher, and various methods of participatory art practice aim to validate the philosophical concepts as design principles as a way to disseminate knowledge. This paper will focus on showcasing the key findings and the research approach for generating philosophical concepts as design principles. Using secondary evidence from literature, it will show examples of transforming textual findings into visuals that will be extensively explored through multidisciplinary collaborative sessions (these are scheduled to be conducted between February and April 2017). <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=creative%20process" title="creative process">creative process</a>, <a href="https://publications.waset.org/abstracts/search?q=design%20pedagogy" title=" design pedagogy"> design pedagogy</a>, <a href="https://publications.waset.org/abstracts/search?q=design%20thinking" title=" design thinking"> design thinking</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%20designs" title=" Islamic designs"> Islamic designs</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20philosophy" title=" Islamic philosophy"> Islamic philosophy</a> </p> <a href="https://publications.waset.org/abstracts/61794/exploring-the-potentials-of-adapting-philosophical-principles-as-a-generative-source-for-islamic-creative-expression" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61794.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">262</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">5199</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> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</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=Islamic%20practices&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Islamic%20practices&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Islamic%20practices&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Islamic%20practices&page=5">5</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Islamic%20practices&page=6">6</a></li> <li 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