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Shari'ah</title> <meta name="description" content="Search results for: Shari'ah"> <meta name="keywords" content="Shari'ah"> <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 navbar-toggler ml-auto" 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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="Shari'ah"> <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> 37</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: Shari'ah</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">37</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">36</span> Shari'ah Supervisory Board's Performance: The Influence to Quality of Disclosure in Islamic Banks</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dian%20Andari">Dian Andari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers. <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=Shari%27ah%20supervisory%20board" title=" Shari'ah supervisory board"> Shari'ah supervisory board</a>, <a href="https://publications.waset.org/abstracts/search?q=accountability" title=" accountability"> accountability</a>, <a href="https://publications.waset.org/abstracts/search?q=quality%20of%20disclosure" title=" quality of disclosure"> quality of disclosure</a> </p> <a href="https://publications.waset.org/abstracts/73063/shariah-supervisory-boards-performance-the-influence-to-quality-of-disclosure-in-islamic-banks" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/73063.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">329</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">35</span> Public Policy and Morality Principles as Grounds for Refusal of Trademarks: A Comparative Study of Islamic Shari’a and Common Law</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nawaf%20Alyaseen">Nawaf Alyaseen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper provides a comparative analysis of the Islamic and Western public policy and morality principles governing trademarks. The aim of this paper is to explore public policy and morality principles that affect trademark registration and protection under Shari'a by using Kuwaiti law as a case study. The findings provide a better understanding of trademark recognition from the perspective of Shari'a and the requirements demanded by Islamic Shari'a, especially of those who deal with strict Shari'a jurisdiction countries. In addition, this understanding is required for corporations or legislators that wish to take into consideration Muslim consumers. The conclusion suggests that trademarks in Western and Islamic systems are controlled by a number of public policy and morality rules that have a direct effect on the registration and protection of trademarks. Regardless of the fact that there are many commonalities between the two systems, there are still fundamental differences. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=trademark" title="trademark">trademark</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20policy%20and%20morality" title=" public policy and morality"> public policy and morality</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20sharia" title=" Islamic sharia"> Islamic sharia</a>, <a href="https://publications.waset.org/abstracts/search?q=western%20legal%20systems" title=" western legal systems"> western legal systems</a> </p> <a href="https://publications.waset.org/abstracts/170173/public-policy-and-morality-principles-as-grounds-for-refusal-of-trademarks-a-comparative-study-of-islamic-sharia-and-common-law" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/170173.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> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">34</span> Endogeneity between Shari'ah Governance and Board Governance and Its Impact on Financial Stability</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sabur%20Mollah">Sabur Mollah</a>, <a href="https://publications.waset.org/abstracts/search?q=Asma%20Mobarek"> Asma Mobarek</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to explore the endogenous relationship between Shari’ah governance and board governance for Islamic banks to identify complementary or substituting relationship between these governance parameters. By using a sample of 161 Islamic Banks from 24 countries for the period of 2005-2013, we show an endogenous relationship between Shari’ah Supervisory Board (SSB) and Board of Directors (BoD). In this relationship, SSB and BoD complement each other. We also show that this complementary relationship between SSB and BoD helps enhance both management and asset quality, but mitigates capital adequacy, earnings, and liquidity in Islamic banks. The study has important implications for financial stability in the Islamic banking system. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shari%E2%80%99ah%20Supervisory%20Board" title="Shari’ah Supervisory Board">Shari’ah Supervisory Board</a>, <a href="https://publications.waset.org/abstracts/search?q=Boards%20of%20Directors" title=" Boards of Directors"> Boards of Directors</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=financial%20stability" title=" financial stability"> financial stability</a> </p> <a href="https://publications.waset.org/abstracts/108886/endogeneity-between-shariah-governance-and-board-governance-and-its-impact-on-financial-stability" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/108886.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">188</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">33</span> Human Rights in Islam: A Critique on Critiques</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Miftahuddin%20Khilji">Miftahuddin Khilji</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The concept of human right is not alien to Islam. The Shari‘ah requires all its followers the sense of responsibility to perform their duties first and then claim their rights. This eventually guarantees the protection of human rights and ensures a peaceful society. The ultimate goal of Shari‘ah is to preserve five basic necessities which are also known as Maqasid ul Shari‘ah or Objectives of Islamic Law. This goal ensures for the members of society their rights without harming public welfare. Despite of the fact that human rights have been fully guaranteed by Islam and their compliance is required by Allah Almighty; not by any legislative body or other sovereign such as kings etc. However, many western writers, organizations and so called liberal thinkers try to create concerns, doubts and misconceptions in minds of the society members. A number of issues are pointed out and people are misguided about the concept of human rights in Islam. This paper aims to discuss main the concept of human rights in the light of perfect and balanced system of laws and principles of Shari‘ah and address those misconceptions and doubts by analyzing them and answering to questions raised about the subject. It would be an effort to prove that human rights are much more significant to Shari‘ah more than any other national or international legislative body. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=human%20rights" title="human rights">human rights</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=law" title=" law"> law</a>, <a href="https://publications.waset.org/abstracts/search?q=Shariah" title=" Shariah"> Shariah</a> </p> <a href="https://publications.waset.org/abstracts/24786/human-rights-in-islam-a-critique-on-critiques" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/24786.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">550</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">32</span> Shari'ah Governance in Islamic Banking and Finance - A Comparison Between Malaysia and Other Selected Countries, Current Challenges and Potential Solution</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhamad%20Badri%20Bin%20Othman">Muhamad Badri Bin Othman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> As a role model and leading country in the world that establishes and promotes Islamic banking and finance, Malaysia has set up and come up with a set of standards and frameworks to govern its Shari’ah function towards implementing the desired outcome of Islamic banking and finance as new source of wealth creation. This paper, examines and highlights, at the very minimum, the importance and application of Shari’ah governance in Islamic banking and finance in Malaysia as a leading country in Islamic banking and finance. This paper also, compares on Shari’ah governance, which is being adopted between Malaysia and other selected countries namely, Pakistan, Bahrain, Kuwait, United Arab Emirates (UAE) and Qatar. This paper also, aims at highlighting the current challenges and issues faced by the scholars in Shari’ah Supervisory Board (SSB) in deliberating their opinions and fatwa towards the implementation of new products in Islamic banking industry to promote innovation among the industry players. The author of this paper will highlight the major challenges and issues faced by the SSB members of Islamic banks in Malaysia, taking into account the complexity of the operation wise and products of Islamic banking, and how they overcome those challenges and issues identified. This will be done through a series of face-to-face interview sessions which will be conducted with a few prominent figures of Islamic banking and finance scholars in Malaysia to highlight the issues and challenges they are facing towards Islamic financial innovation and subsequently finding solutions for the identified issues and challenges. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shari%E2%80%99ah%20governance" title="Shari’ah governance">Shari’ah governance</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%E2%80%99ah%20supervisory%20board%20%28SSB%29" title=" Shari’ah supervisory board (SSB)"> Shari’ah supervisory board (SSB)</a>, <a href="https://publications.waset.org/abstracts/search?q=Issues%20and%20challenges" title=" Issues and challenges"> Issues and challenges</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20financial%20innovation" title=" Islamic financial innovation"> Islamic financial innovation</a> </p> <a href="https://publications.waset.org/abstracts/30334/shariah-governance-in-islamic-banking-and-finance-a-comparison-between-malaysia-and-other-selected-countries-current-challenges-and-potential-solution" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/30334.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">421</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">31</span> Factors of Divergence of Shari’Ah Supervisory Opinions and Its Effects on the Harmonization of Islamic Banking Products and Services</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dlir%20Abdullah%20Ahmed">Dlir Abdullah Ahmed</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Overall aims of this study are to investigate the effects of differences of opinions among Shari’ah supervisory bodies on standardization and internationalization of Islamic banking products and services. The study has used semi-structured in-depth interview where five respondents from both the Middle East and Malaysia Shari’ah advisors participated in the interview sessions. The data were analyzed by both manual and software techniques. The findings reveal that indeed there are differences of opinions among Shari’ah advisors in different jurisdictions. These differences are due to differences in educational background, schools of thoughts, environment in which they operate, and legal requirements. Moreover, the findings also reveal that these differences in opinions among Shari’ah bodies create confusions among public and bankers, and negatively affect standardization of Islamic banking transactions. In addition, the study has explored the possibility to develop Islamic-based products. However, the finding shows that it is difficult for the industry to have Islamic-based products due to high competition from conventional counterpart, legal constraints and moral hazard. Furthermore, the findings indicate that lack of political will and unity, lack of technology are the main constraints to internationalization of Islamic banking products. Last but not least, the study found that there are possibility of convergence of opinions, standardization of Islamic banking products and services if there are unified international Shari’ah h advisory council, international basic requirements for Islamic Shari’ah h advisors, and increase training and educations of Islamic bankers. This study has several implications to the bankers, policymakers and researchers. The policymakers should be able to resolve their political differences and set up unified international advisory council and international research and development center. The bankers should increase training and educations of the workforce as well improve on their banking infrastructure to facility cross-border transactions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shari%E2%80%99ah%20h%20views" title="Shari’ah h views">Shari’ah h views</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=products%20%26%20services" title=" products & services"> products & services</a>, <a href="https://publications.waset.org/abstracts/search?q=standardization." title=" standardization."> standardization.</a> </p> <a href="https://publications.waset.org/abstracts/168157/factors-of-divergence-of-shariah-supervisory-opinions-and-its-effects-on-the-harmonization-of-islamic-banking-products-and-services" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/168157.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">69</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">30</span> Need for Shariah Screening of Companies in Nigeria: Lessons from Other Jurisdictions</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Aishat%20Abdul-Qadir%20Zubair">Aishat Abdul-Qadir Zubair</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Background: The absence of Shari’ah screening methodology for companies in Nigeria has further engineered the uncertainty surrounding the acceptability of investing in certain companies by people professing the religion of Islam due to the nature of the activities carried out by these companies. There are some existing shariah screening indices in other jurisdictions whose criteria can be used to check if a company or business is shariah-compliant or not. Examples such as FTSE, DJIM, Standard and Poor to mention just a few. What these indices have tried to do is to ensure that there are benchmarks to check with before investing in companies that carry out mixed activities in their business, wherein some are halal and others may be haram. Purpose: There have been numerous studies on the need to adopt certain screening methodologies as well as call for new methods in screening companies for shariah compliance in order to suit the investments needs of Muslims in other jurisdictions. It is, however, unclear how suitable these methodologies will be to Nigeria. This paper, therefore, seeks to address this gap to consider an appropriate screening methodology to be employed in Nigeria, drawing from the experience of other jurisdictions. Methods: This study employs a triangulation of both quantitative and qualitative methods to analyze the need for Shari’ah screening of companies in Nigeria. The qualitative method is used by way of ijtihad, and this study tries to apply some Islamic Principles of Maqasid al-shari’ah as well as Qawaid al-Fiqiyyah to analyze activities of companies in order to ensure that they are indeed Shari’ah compliant. In addition, using the quantitative data gathered from the interview survey, the perspective of the investors with regards to the need for Shari’ah screening of companies in Nigeria is further analyzed. Results: The result of the study shows that there is a lack of awareness from the teeming Muslim population in Nigeria on the need for Shari’ah screening of companies in Nigeria. The result further shows that there is the need to take into cognizance the peculiar nature of company activities in Nigeria before any particular Shari’ah screening methodology is adopted and setting the necessary benchmarks. Conclusion and Implications: The study concludes that there is the need to ensure that the conscious Muslims in Nigeria screen companies for Shari’ah compliance so that they can easily identify the companies to invest in. The paper, therefore, recommends that the Nigerian government need to come up with a screening methodology that will suit the peculiar nature of companies in Nigeria. The study thus has a direct implication on the Investment regulatory bodies in Nigeria such as the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN) as well as the investor Muslims. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shari%27ah%20screening" title="Shari'ah screening">Shari'ah screening</a>, <a href="https://publications.waset.org/abstracts/search?q=Muslims" title=" Muslims"> Muslims</a>, <a href="https://publications.waset.org/abstracts/search?q=investors" title=" investors"> investors</a>, <a href="https://publications.waset.org/abstracts/search?q=companies" title=" companies"> companies</a> </p> <a href="https://publications.waset.org/abstracts/143016/need-for-shariah-screening-of-companies-in-nigeria-lessons-from-other-jurisdictions" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/143016.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">167</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">29</span> The Connection between Qom Seminaries and Interpretation of Sacred Sources in Ja‘farī Jurisprudence </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sumeyra%20Yakar">Sumeyra Yakar</a>, <a href="https://publications.waset.org/abstracts/search?q=Emine%20Enise%20Yakar"> Emine Enise Yakar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Iran presents itself as Islamic, first and foremost, and thus, it can be said that sharī’a is the political and social centre of the states. However, actual practice reveals distinct interpretations and understandings of the sharī’a. The research can be categorised inside the framework of logic in Islamic law and theology. The first task of this paper will be to identify how the sharī’a is understood in Iran by mapping out how the judges apply the law in their respective jurisdictions. The attention will then move from a simple description of the diversity of sharī’a understandings to the question of how that diversity relates to social concepts and cultures. This, of course, necessitates a brief exploration of Iran’s historical background which will also allow for an understanding of sectarian influences and the significance of certain events. The main purpose is to reach an understanding of the process of applying sources to formulate solutions which are in accordance with sharī’a and how religious education is pursued in order to become official judges. Ultimately, this essay will explore the attempts to gain an understanding by linking the practices to the secondary sources of Islamic law. It is important to emphasise that these cultural components of Islamic law must be compatible with the aims of Islamic law and their fundamental sources. The sharī’a consists of more than just legal doctrines (fiqh) and interpretive activities (ijtihād). Its contextual and theoretical framework reveals a close relationship with cultural and historical elements of society. This has meant that its traditional reproduction over time has relied on being embedded into a highly particular form of life. Thus, as acknowledged by pre-modern jurists, the sharī’a encompasses a comprehensive approach to the requirements of justice in legal, historical and political contexts. In theological and legal areas that have the specific authority of tradition, Iran adheres to Shīa’ doctrine, and this explains why the Shīa’ religious establishment maintains a dominant position in matters relating to law and the interpretation of sharī’a. The statements and interpretations of the tradition are distinctly different from sunnī interpretations, and so the use of different sources could be understood as the main reason for the discrepancies in the application of sharī’a between Iran and other Muslim countries. The sharī’a has often accommodated prevailing customs; moreover, it has developed legal mechanisms to all for its adaptation to particular needs and circumstances in society. While jurists may operate within the realm of governance and politics, the moral authority of the sharī’a ensures that these actors legitimate their actions with reference to God’s commands. The Iranian regime enshrines the principle of vilāyāt-i faqīh (guardianship of the jurist) which enables jurists to solve the conflict between law as an ideal system, in theory, and law in practice. The paper aims to show how the religious, educational system works in harmony with the governmental authorities with the concept of vilāyāt-i faqīh in Iran and contributes to the creation of religious custom in the society. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=guardianship%20of%20the%20jurist%20%28vil%C4%81y%C4%81t-i%20faq%C4%ABh%29" title="guardianship of the jurist (vilāyāt-i faqīh)">guardianship of the jurist (vilāyāt-i faqīh)</a>, <a href="https://publications.waset.org/abstracts/search?q=imitation%20%28taql%C4%ABd%29" title=" imitation (taqlīd)"> imitation (taqlīd)</a>, <a href="https://publications.waset.org/abstracts/search?q=seminaries%20%28hawza%29" title=" seminaries (hawza)"> seminaries (hawza)</a>, <a href="https://publications.waset.org/abstracts/search?q=Shi%E2%80%99i%20jurisprudence" title=" Shi’i jurisprudence"> Shi’i jurisprudence</a> </p> <a href="https://publications.waset.org/abstracts/102149/the-connection-between-qom-seminaries-and-interpretation-of-sacred-sources-in-jafari-jurisprudence" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/102149.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">223</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">28</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">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">27</span> Revisiting the Jurisprudence of the Appellate Courts on the Jurisdiction of the Shari'ah Court of Appeal under Selected Nigerian Constitutions</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dahiru%20Jafaru%20Usman">Dahiru Jafaru Usman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Nigerian courts have been sanctioned by a plethora of authorities to always employ the literal rule in interpreting statutes where the language of the statute is clear and unambiguous. This cardinal rule of interpretation appears not to be employed on Shari'ah issues in Nigeria. This is more pronounced in the interpretation of the jurisdiction of the Shari'ah Court of Appeal (hereinafter the court). The paper doctrinally assesses the judicial attitude of Nigerian appellate courts towards the construction of Section 277 of the 1999 Constitution as amended and other relevant statutory enactments by the State Houses of Assembly. The paper argues that a careful examination of the wordings of the constitution on the jurisdiction of the court literally reveals the intention of the constitutional drafters empowering the National Assembly and States' House of Assemblies to add to the itemised jurisdictional areas of the court other matters not mentioned. The paper found that the appellate courts failed in their construction of the constitutional provisions to accord the words and phrases used in the establishment, jurisdiction, and quorum sections of the court their ordinary and grammatical meaning. This results in consistent limitation of the jurisdiction of the court to matters of Islamic personal law. This remains so even when Decree No. 26 of 1986 was in force suspending and amending the provisions of the 1979 Constitution deleting the word 'personal' in the suspended Nigerian Constitutions. In order not to render section 277 futile, the paper recommends that appellate courts in Nigeria should as required by rules of statutory interpretation adopt literal and ordinary grammatical meaning in interpreting constitutional provisions on the jurisdiction of the court. It is further recommended that appellate courts must interpret the provisions of the 1999 constitution in a manner not to frustrate the several decades' yearnings of the Muslims for a court that would hear all their appellate criminal and civil matters on the path of Shari'ah from the lowest court to the highest. This is a duty the Nigerian Supreme Court placed on their shoulders. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=interpretation%20of%20statutes" title="interpretation of statutes">interpretation of statutes</a>, <a href="https://publications.waset.org/abstracts/search?q=jurisdiction" title=" jurisdiction"> jurisdiction</a>, <a href="https://publications.waset.org/abstracts/search?q=literal%20rule" title=" literal rule"> literal rule</a>, <a href="https://publications.waset.org/abstracts/search?q=Nigeria" title=" Nigeria"> Nigeria</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%27ah%20Court%20of%20Appeal" title=" Shari'ah Court of Appeal"> Shari'ah Court of Appeal</a>, <a href="https://publications.waset.org/abstracts/search?q=1999%20Constitution" title=" 1999 Constitution"> 1999 Constitution</a> </p> <a href="https://publications.waset.org/abstracts/119961/revisiting-the-jurisprudence-of-the-appellate-courts-on-the-jurisdiction-of-the-shariah-court-of-appeal-under-selected-nigerian-constitutions" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/119961.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">187</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">26</span> Provisions for Risk in Islamic Banking and Finance in Comparison to the Conventional Banks in Malaysia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rashid%20Masoud%20Ali%20Al-Mazrui">Rashid Masoud Ali Al-Mazrui</a>, <a href="https://publications.waset.org/abstracts/search?q=Ramadhani%20Mashaka%20Shabani"> Ramadhani Mashaka Shabani</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=emerging%20risk" title="emerging risk">emerging risk</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20management" title=" risk management"> risk management</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=conventional%20bank" title=" conventional bank"> conventional bank</a> </p> <a href="https://publications.waset.org/abstracts/155652/provisions-for-risk-in-islamic-banking-and-finance-in-comparison-to-the-conventional-banks-in-malaysia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/155652.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">83</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">25</span> The Viability of Islamic Finance and Its Impact on Global Financial Stability: Evidence from Practical Implications</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Malik%20Shahzad%20Shabbir">Malik Shahzad Shabbir</a>, <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Saarim%20Ghazi"> Muhammad Saarim Ghazi</a>, <a href="https://publications.waset.org/abstracts/search?q=Amir%20Khalil%20ur%20Rehman"> Amir Khalil ur Rehman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study examines the factors which influence and contribute towards the financial viability of Islamic finance and its impact on global financial stability. However, the purpose of this paper is to differentiate the practical implications of both Islamic and conventional finance on global financial stability. The Islamic finance is asset backed financing which creates wealth through trade, commerce and believes in risk and return sharing. Islamic banking is asset driven as against to conventional banking which is liability driven. In order to introduce new financial products for market, financial innovation in Islamic finance must be within the Shari’ah parameters that are tested against the ‘Maqasid al-Shari’ah’. Interest-based system leads to income and wealth inequalities and mis-allocation of resources. Moreover, this system has absence of just and equitable aspect of distribution that may exploit either the debt holder or the financier. Such implications are reached to a tipping point that leaves only one choice: change or face continued decline and misery. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=viability" title="viability">viability</a>, <a href="https://publications.waset.org/abstracts/search?q=global%20financial%20stability" title=" global financial stability"> global financial stability</a>, <a href="https://publications.waset.org/abstracts/search?q=practical%20implications" title=" practical implications"> practical implications</a>, <a href="https://publications.waset.org/abstracts/search?q=asset%20driven" title=" asset driven"> asset driven</a>, <a href="https://publications.waset.org/abstracts/search?q=tipping%20point" title=" tipping point"> tipping point</a> </p> <a href="https://publications.waset.org/abstracts/43819/the-viability-of-islamic-finance-and-its-impact-on-global-financial-stability-evidence-from-practical-implications" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/43819.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">303</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">24</span> Using Customer Satisfaction to Help Achieve Sustainable Development Goals in the Islamic Economy: A Quantitative Case Study from Amman, Jordan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sarah%20A.%20Tobin">Sarah A. Tobin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Social justice outcomes, derived from customer satisfaction, serve as a main pathway and conduit for achieving Sustainable Development Goals (SDGs) because they prompt democratizing and socially-inclusive effects that are consistent with Islamic economic values. This paper argues that achieving higher levels of social justice and the SGDs is possible only through the realization of Islamic banking and finance customer satisfaction that aligns with Islamic values in the tradition of the Shari`a (or Islamic law). Through this key manifestation of Shari`a in the banks, social justice aims of achieving SDGs become possible. This paper utilizes a case study of a large-scale survey (N=127) comparing customer satisfaction between a conventional and an Islamic bank in Amman, Jordan. Based on a series of linear regressions, the statistically-significant findings suggest that when overall customer satisfaction is high, customers are more likely to become empowered citizens demanding inclusive, quality services and corruption-free management, as well as attribute their experiences to the Islamic nature of the financial endeavors. Social justice interests and expectations increase (and SDGs are more likely met) when a customer has high levels of satisfaction. The paper concludes with policy recommendations for Islamic financial institutions that enhance customer service experiences for better achieving the social justice aims of the Islamic economy and SDGs, including transparency in transactions, exemplary customer service and follow up, and attending to Islamic values in the aesthetics of bank. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=customer%20satisfaction" title="customer satisfaction">customer satisfaction</a>, <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=social%20justice" title=" social justice"> social justice</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development%20goals" title=" sustainable development goals"> sustainable development goals</a> </p> <a href="https://publications.waset.org/abstracts/82140/using-customer-satisfaction-to-help-achieve-sustainable-development-goals-in-the-islamic-economy-a-quantitative-case-study-from-amman-jordan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/82140.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">342</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">23</span> Islamic Financial Instrument, Standard Parallel Salam as an Alternative to Conventional Derivatives</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Alireza%20Naserpoor">Alireza Naserpoor</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Derivatives are the most important innovation which has happened in the past decades. When it comes to financial markets, it has changed the whole way of operations of stock, commodities and currency market. Beside a lot of advantages, Conventional derivatives contracts have some disadvantages too. Some problems have been caused by derivatives contain raising Volatility, increasing Bankruptcies and causing financial crises. Standard Parallel Salam contract as an Islamic financial product meanwhile is a financing instrument can be used for risk management by investors. Standard Parallel Salam is a Shari’ah-Compliant contract. Furthermore, it is an alternative to conventional derivatives. Despite the fact that the unstructured types of that, has been used in several Islamic countries, This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. In this paper after introducing parallel Salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel Salam contract and proceed to describe standard scenarios for trading this instrument and practical experience in Iran Mercantile Exchange about this instrument. Afterwards, we make a comparison between SPS and Futures contracts as a conventional derivative. Standard parallel salam contract as an Islamic financial product, can be used for risk management by investors. SPS is a Shariah-Compliant contract. Furthermore it is an alternative to conventional derivatives. This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. despite the fact that the unstructured types of that, has been used in several Islamic countries. In this article after introducing parallel salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel salam contract and proceed to describe standard scenarios for trading this instrument containing two main approaches in SPS using, And practical experience in IME about this instrument Afterwards, a comparison between SPS and Futures contracts as a conventional derivatives. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=futures%20contracts" title="futures contracts">futures contracts</a>, <a href="https://publications.waset.org/abstracts/search?q=hedging" title=" hedging"> hedging</a>, <a href="https://publications.waset.org/abstracts/search?q=shari%E2%80%99ah%20compliant%20instruments" title=" shari’ah compliant instruments"> shari’ah compliant instruments</a>, <a href="https://publications.waset.org/abstracts/search?q=standard%20parallel%20salam" title=" standard parallel salam "> standard parallel salam </a> </p> <a href="https://publications.waset.org/abstracts/19729/islamic-financial-instrument-standard-parallel-salam-as-an-alternative-to-conventional-derivatives" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/19729.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">392</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">22</span> [Keynote Talk]: Let Us Move to Ethical Finance: A Case Study of Takaful</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Syed%20Ahmed%20Salman">Syed Ahmed Salman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Ethicality is essential in our daily activities, including personal and commercial activities. This is evidenced by referring to the historical development of the corporate governance and ethical guidelines. The first corporate governance guideline, i.e. Cadbury Report from U.K. focuses the responsibility of board members towards the shareholders only. Gradually, realising the need to take care of the society and community, stakeholders are now concerns of business entities. Consequently, later codes of corporate governance started extending the responsibility to the other stakeholders in addition to the shareholders. One prevailing corporate governance theory, i.e. stakeholder theory, has been widely used in the research to explore the effects of business entities on society. In addition, the Global Reporting Initiative (GRI) is the leading organisation which promotes social care from businesses for sustainable development. Conventionally, history shows that ethics is key to the long term success of businesses. Many organisations, societies, and regulators give full attention and consideration to ethics. Several countries have introduced ethical codes of conduct to direct trade activities. Similarly, Islam and other religions prohibit the practice of interest, uncertainty, and gambling because of its unethical nature. These prohibited practices are not at all good for the society, business, and any organisation especially as it is detrimental to the well-being of society. In order to avoid unethicality in the finance industry, Shari’ah scholars come out with the idea of Islamic finance which is free from the prohibited elements from the Islamic perspective. It can also be termed ethical finance. This paper highlights how Takaful as one of the Islamic finance products offers fair and just products to the contracting parties and the society. Takaful is framed based on ethical guidelines which are extracted from Shari’ah principles and divine sources such as the Quran and Sunnah. Takaful products have been widely offered all over the world, including in both Muslim and non-Muslim countries. It seems that it is gaining acceptance regardless of religion. This is evidence that Takaful is being accepted as an ethical financial product. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ethics" title="ethics">ethics</a>, <a href="https://publications.waset.org/abstracts/search?q=insurance" title=" insurance"> insurance</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=religion%20and%20takaful" title=" religion and takaful"> religion and takaful</a> </p> <a href="https://publications.waset.org/abstracts/45490/keynote-talk-let-us-move-to-ethical-finance-a-case-study-of-takaful" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/45490.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">272</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">21</span> Islamic Finance and Trade Promotion in the African Continental Free Trade Area: An Exploratory Study</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shehu%20Usman%20Rano%20Aliyu">Shehu Usman Rano Aliyu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Despite the significance of finance as a major trade lubricant, evidence in the literature alludes to its scarcity and increasing cost, especially in developing countries where small and medium-scale enterprises are worst affected. The creation of the African Continental Free Trade Area (AFCFTA) in 2018, an organ of the African Union (AU), was meant to serve as a beacon for deepening economic integration through the removal of trade barriers inhibiting intra-African trade and movement of persons, among others. Hence, this research explores the role Islamic trade finance (ITF) could play in spurring intra- and inter-African trade. The study involves six countries; Egypt, Kenya, Malaysia, Morocco, Nigeria, and Saudi Arabia, and employs survey research, a total of 430 sample data, and SmartPLS Structural Equation Modelling (SEM) techniques in its analyses. We find strong evidence that Shari’ah, legal and regulatory compliance issues of the ITF institutions rhythm with the internal, national, and international compliance requirements equally as the unique instruments applied in ITF. In addition, ITF was found to be largely driven by global economic and political stability, socially responsible finance, ethical and moral considerations, risk-sharing, and resilience of the global Islamic finance industry. Further, SMEs, Governments, and Importers are the major beneficiary sectors. By and large, AfCFTA’s protocols align with the principles of ITF and are therefore suited for the proliferation of Islamic finance in the continent. And, while AML/KYC and BASEL requirements, compliance to AAOIFI and IFSB standards, paucity of Shari'ah experts, threats to global security, and increasing global economic uncertainty pose as major impediments, the future of ITF would be shaped by a greater need for institutional and policy support, global economic cum political stability, robust regulatory framework, and digital technology/fintech. The study calls for the licensing of more ITF institutions in the continent, participation of multilateral institutions in ITF, and harmonization of Shariah standards. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=AfCFTA" title="AfCFTA">AfCFTA</a>, <a href="https://publications.waset.org/abstracts/search?q=islamic%20trade%20finance" title=" islamic trade finance"> islamic trade finance</a>, <a href="https://publications.waset.org/abstracts/search?q=murabaha" title=" murabaha"> murabaha</a>, <a href="https://publications.waset.org/abstracts/search?q=letter%20of%20credit" title=" letter of credit"> letter of credit</a>, <a href="https://publications.waset.org/abstracts/search?q=forwarding" title=" forwarding"> forwarding</a> </p> <a href="https://publications.waset.org/abstracts/182935/islamic-finance-and-trade-promotion-in-the-african-continental-free-trade-area-an-exploratory-study" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/182935.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">56</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">20</span> Liability of AI in Workplace: A Comparative Approach Between Shari’ah and Common Law</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Barakat%20Adebisi%20Raji">Barakat Adebisi Raji</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In the workplace, Artificial Intelligence has, in recent years, emerged as a transformative technology that revolutionizes how organizations operate and perform tasks. It is a technology that has a significant impact on transportation, manufacturing, education, cyber security, robotics, agriculture, healthcare, and so many other organizations. By harnessing AI technology, workplaces can enhance productivity, streamline processes, and make more informed decisions. Given the potential of AI to change the way we work and its impact on the labor market in years to come, employers understand that it entails legal challenges and risks despite the advantages inherent in it. Therefore, as AI continues to integrate into various aspects of the workplace, understanding the legal and ethical implications becomes paramount. Also central to this study is the question of who is held liable where AI makes any defaults; the person (company) who created the AI, the person who programmed the AI algorithm or the person who uses the AI? Thus, the aim of this paper is to provide a detailed overview of how AI-related liabilities are addressed under each legal tradition and shed light on potential areas of accord and divergence between the two legal cultures. The objectives of this paper are to (i) examine the ability of Common law and Islamic law to accommodate the issues and damage caused by AI in the workplace and the legality of compensation for such injury sustained; (ii) to discuss the extent to which AI can be described as a legal personality to bear responsibility: (iii) examine the similarities and disparities between Common Law and Islamic Jurisprudence on the liability of AI in the workplace. The methodology adopted in this work was qualitative, and the method was purely a doctrinal research method where information is gathered from the primary and secondary sources of law, such as comprehensive materials found in journal articles, expert-authored books and online news sources. Comparative legal method was also used to juxtapose the approach of Islam and Common Law. The paper concludes that since AI, in its current legal state, is not recognized as a legal entity, operators or manufacturers of AI should be held liable for any damage that arises, and the determination of who bears the responsibility should be dependent on the circumstances surrounding each scenario. The study recommends the granting of legal personality to AI systems, the establishment of legal rights and liabilities for AI, the establishment of a holistic Islamic virtue-based AI ethics framework, and the consideration of Islamic ethics. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=AI" title="AI">AI</a>, <a href="https://publications.waset.org/abstracts/search?q=health-%20care" title=" health- care"> health- care</a>, <a href="https://publications.waset.org/abstracts/search?q=agriculture" title=" agriculture"> agriculture</a>, <a href="https://publications.waset.org/abstracts/search?q=cyber%20security" title=" cyber security"> cyber security</a>, <a href="https://publications.waset.org/abstracts/search?q=common%20law" title=" common law"> common law</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%27ah" title=" Shari'ah"> Shari'ah</a> </p> <a href="https://publications.waset.org/abstracts/185978/liability-of-ai-in-workplace-a-comparative-approach-between-shariah-and-common-law" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/185978.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">37</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">19</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">18</span> Untapped Market of Islamic Pension Fund: Muslim Attitude and Expectation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yunice%20Karina%20Tumewang">Yunice Karina Tumewang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> As we have seen, the number of Muslim and their awareness toward financial products and services that conform to Islamic principles are growing rapidly today. Thus, it makes the market environment potentially beneficial for Shari-compliant funds with the expanding prospective client base. However, over the last decade, only small portion of this huge potential market has been covered by the established Islamic asset management firms. This study aims to examine the factors of this untapped market particularly in the demand side. This study will use the qualitative method with primary data through a questionnaire distributed to 500 samples of Muslim population. It will shed light on Muslim attitudes and expectations toward Sharia-compliant retirement planning and pensions. It will also help to raise the awareness of market players to see Islamic pension fund as a promising industry in the foreseeable future. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Islamic%20marketing" title="Islamic marketing">Islamic marketing</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%20asset%20management" title=" Islamic asset management"> Islamic asset management</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20pension%20fund" title=" Islamic pension fund"> Islamic pension fund</a> </p> <a href="https://publications.waset.org/abstracts/72348/untapped-market-of-islamic-pension-fund-muslim-attitude-and-expectation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/72348.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">338</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">17</span> Beneficial Ownership in Islamic Finance: The Need for Shari'ah Parameters</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nik%20Abdul%20Rahim%20Nik%20Abdul%20Ghani">Nik Abdul Rahim Nik Abdul Ghani</a>, <a href="https://publications.waset.org/abstracts/search?q=Mat%20Noor%20Mat%20Zain"> Mat Noor Mat Zain</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahmad%20Dahlan%20Salleh"> Ahmad Dahlan Salleh</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Ownership of asset is an important aspect in ensuring the validity of sale contract. Nevertheless, in Islamic finance, the issue of beneficial ownership as practiced in the current system is seriously debated among Shariah scholars. It has been argued as violating the real concept of ownership (milkiyyah) in Shariah law. This article aims at studying the status of beneficial ownership from the Shariah perspective. This study begins with examining the meaning of ownership and its attributes from the Islamic point of view and followed by the discussion on the origin of beneficial ownership from the legal perspective. The approach that is applied to clarify the concept of beneficial ownership is content analysis. Subsequently, this study explains some current applications of beneficial ownership in Islamic finance to be analyzed further from the Shariah aspect. The research finding suggests that beneficial ownership should be recognized as a real ownership due to the fact that Shariah allows the transfer of ownership after the execution of offer (ijab) and acceptance (qabul). <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=beneficial%20ownership" title="beneficial ownership">beneficial ownership</a>, <a href="https://publications.waset.org/abstracts/search?q=ownership" title=" ownership"> ownership</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=parameter" title=" parameter"> parameter</a> </p> <a href="https://publications.waset.org/abstracts/72334/beneficial-ownership-in-islamic-finance-the-need-for-shariah-parameters" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/72334.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">270</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">16</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">15</span> Suitability of Indonesia's Tax Administration with Abu Yusuf Thought</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dina%20Safrina">Dina Safrina</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper aims to discuss the suitability of tax administration in Indonesia based on Islamic Shari'a by looking at Abu Yusuf's idea of taxation. This research is a qualitative research and using data collection method by library research, that is by studying, deepening and citing theories or concepts from a number of literature. The purpose of this paper is to find out whether taxation in Indonesia is consistent with the thinking of Islamic economists, namely Abu Yusuf's idea which became known by economists as the canons of taxation. The ability to pay, lax time giving for taxpayers and the centralization of decision-making in the tax administration are some of the principles it emphasizes. In taxation he recommends the use of the Muqassamah (Proportional Tax) system rather than the Mixed (Fixed Tax) system. In this case, the determination of tax rates in Indonesia there are using fixed tax system, proportional tax, progressive tax and regressive tax. Abu Yusuf opposed the existence of Qabalah institution (the guarantor of tax payments to the state) at the time and suggested a tax administration centered and paid directly to the state. This is in accordance with those already applied in Indonesia where tax collection is done centrally. The tax system in Indonesia using self assessment system, which is the authority and responsibility given by the government to the taxpayer to calculate, pay and report the tax itself becomes the gap for taxpayers to commit fraud. Prerequisites that must be met for the success of this system is with the tax consciousness, tax honesty, tax mindedness, and tax discipline. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abu%20Yusuf" title="Abu Yusuf">Abu Yusuf</a>, <a href="https://publications.waset.org/abstracts/search?q=Indonesia" title=" Indonesia"> Indonesia</a>, <a href="https://publications.waset.org/abstracts/search?q=tax" title=" tax"> tax</a>, <a href="https://publications.waset.org/abstracts/search?q=tax%20administration" title=" tax administration"> tax administration</a> </p> <a href="https://publications.waset.org/abstracts/86479/suitability-of-indonesias-tax-administration-with-abu-yusuf-thought" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/86479.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">418</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">14</span> The Governance of Islamic Banks in Morocco: Meaning, Strategic Vision and Purposes Attributed to the Governance System</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lalla%20Nezha%20Lakmiti">Lalla Nezha Lakmiti</a>, <a href="https://publications.waset.org/abstracts/search?q=Abdelkahar%20Zahid"> Abdelkahar Zahid</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Due to the setbacks on the international scene and the wave of cacophonic financial scandals affecting large international groups, the new Islamic finance industry is not immune despite its initial resistance. The purpose of this paper is to understand and analyze the meaning of the Corporate Governance (CG) concept in Moroccan Islamic banking systems with specific reference to their institutions. The research objective is to identify also the path taken and adopted by these banks recently set up in Morocco. The foundation is rooted in shari'a, in particular, no stakeholder (the shareholding approach) must be harmed, and the ethical value is reflected into these parties’ behavior. We chose a qualitative method, semi-structured interviews where six managers provided answers about their banking systems. Since these respondents held a senior position (directors) within their organizations, it is felt that they are well placed and have the necessary knowledge to provide us with information to answer the questions asked. The results identified the orientation of participating banks and assessing how governance works, while determining which party is fovoured: shareholders, stakeholders or both. This study discusses the favorable condition to the harmonization of the regulations and therefore a better integration between Islamic finance and conventional ones in the economic context of Morocco. <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=Islamic%20Banks" title=" Islamic Banks"> Islamic Banks</a>, <a href="https://publications.waset.org/abstracts/search?q=stakeholders" title=" stakeholders"> stakeholders</a>, <a href="https://publications.waset.org/abstracts/search?q=shareholders" title=" shareholders"> shareholders</a> </p> <a href="https://publications.waset.org/abstracts/104834/the-governance-of-islamic-banks-in-morocco-meaning-strategic-vision-and-purposes-attributed-to-the-governance-system" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/104834.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">110</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">13</span> Arabic Scholar’s Governance Advocacy and Nigeria’s National Security in Nigeria: Perspective of Al-Shaykh Usman Bin Fodio</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohammad%20Jamiu%20Abdullahi">Mohammad Jamiu Abdullahi</a>, <a href="https://publications.waset.org/abstracts/search?q=Shykh%20Ahmed%20Abdussalam"> Shykh Ahmed Abdussalam</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The emergence of Arabic on the shore of West Africa heralded the practise of Islam and advocation for a just and egalitarian society. Islam, it was argued, has been perverted and subverted by the Hausa leadership. This necessitated the call for reforming Islam. Al-Shaykh Usman Bin Fodio grabbed the opportunity and fought the perverts to restore the glory of Islam and establish shari'ah way of life. This was the practice, especially in the northern part of Nigeria until the incursion of colonialism. The conquest of the colonial master halted the rule of jihadi leaderships and subjected them to colonialism under which only some aspects of Islamic system considered potentially beneficial to the British interest were retained. The current socio-political and economic crises in Nigeria has necessitated the need to look inwardly to the bulk of works, in Arabic, left behind by the Muslim scholars to help to salvage the country from its present political crisis, economic paralysis and legal decadence. This paper, therefore, examines the relevance of Arabic literary works that housed political/legal theories to salvaging the country from its present political crises, economic paralysis and legal decadence. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Arabic%20Fodio%20Nigeria%20security" title="Arabic Fodio Nigeria security">Arabic Fodio Nigeria security</a>, <a href="https://publications.waset.org/abstracts/search?q=advocacy%20governance%20scholar%20Usman" title=" advocacy governance scholar Usman"> advocacy governance scholar Usman</a>, <a href="https://publications.waset.org/abstracts/search?q=British%20colonial%20perspective%20shaykh" title=" British colonial perspective shaykh"> British colonial perspective shaykh</a>, <a href="https://publications.waset.org/abstracts/search?q=leadership%20Islam%20jihad%20politics" title=" leadership Islam jihad politics"> leadership Islam jihad politics</a> </p> <a href="https://publications.waset.org/abstracts/71774/arabic-scholars-governance-advocacy-and-nigerias-national-security-in-nigeria-perspective-of-al-shaykh-usman-bin-fodio" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/71774.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">337</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">12</span> Estimating the Receiver Operating Characteristic Curve from Clustered Data and Case-Control Studies </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yalda%20Zarnegarnia">Yalda Zarnegarnia</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%20Messinger"> Shari Messinger</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Receiver operating characteristic (ROC) curves have been widely used in medical research to illustrate the performance of the biomarker in correctly distinguishing the diseased and non-diseased groups. Correlated biomarker data arises in study designs that include subjects that contain same genetic or environmental factors. The information about correlation might help to identify family members at increased risk of disease development, and may lead to initiating treatment to slow or stop the progression to disease. Approaches appropriate to a case-control design matched by family identification, must be able to accommodate both the correlation inherent in the design in correctly estimating the biomarker’s ability to differentiate between cases and controls, as well as to handle estimation from a matched case control design. This talk will review some developed methods for ROC curve estimation in settings with correlated data from case control design and will discuss the limitations of current methods for analyzing correlated familial paired data. An alternative approach using Conditional ROC curves will be demonstrated, to provide appropriate ROC curves for correlated paired data. The proposed approach will use the information about the correlation among biomarker values, producing conditional ROC curves that evaluate the ability of a biomarker to discriminate between diseased and non-diseased subjects in a familial paired design. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=biomarker" title="biomarker">biomarker</a>, <a href="https://publications.waset.org/abstracts/search?q=correlation" title=" correlation"> correlation</a>, <a href="https://publications.waset.org/abstracts/search?q=familial%20paired%20design" title=" familial paired design"> familial paired design</a>, <a href="https://publications.waset.org/abstracts/search?q=ROC%20curve" title=" ROC curve"> ROC curve</a> </p> <a href="https://publications.waset.org/abstracts/76734/estimating-the-receiver-operating-characteristic-curve-from-clustered-data-and-case-control-studies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/76734.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">240</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">11</span> Direct and Indirect Impacts of Predator Conflict in Kanha National Park, India</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Diane%20H.%20Dotson">Diane H. Dotson</a>, <a href="https://publications.waset.org/abstracts/search?q=Shari%20L.%20Rodriguez"> Shari L. Rodriguez</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Habitat for predators is on the decline worldwide, which often brings humans and predators into conflict over remaining shared space and common resources. While the direct impacts of human predator conflict on humans (i.e., attacks on livestock or humans resulting in injury or death) are well documented, the indirect impacts of conflict on humans (i.e., downstream effects such as fear, stress, opportunity costs, PTSD) have not been addressed. We interviewed 437 people living in 54 villages on the periphery of Kanha National Park, India, to assess the amount and severity of direct and indirect impacts of predator conflict. While 58% of livestock owners believed that predator attacks on livestock guards occurred frequently and 62% of those who collect forest products believed that predator attacks on those collecting occurred frequently, less than 20% of all participants knew of someone who had experienced an attack. Data related to indirect impacts suggest that such impacts are common; 76% of participants indicated they were afraid a predator will physically injure them. Livestock owners reported that livestock guarding took time away from their primary job (61%) and getting enough sleep (73%), and believed that it increased their vulnerability to illnesses (80%). These results suggest that the perceptions of risk of predator attack are likely inflated, yet the costs of human predator impacts may be substantially higher than previously estimated, particularly related to human well-being, making the implementation of appropriate and effective conservation and conflict mitigation strategies and policies increasingly urgent. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=direct%20impacts" title="direct impacts">direct impacts</a>, <a href="https://publications.waset.org/abstracts/search?q=indirect%20impacts" title=" indirect impacts"> indirect impacts</a>, <a href="https://publications.waset.org/abstracts/search?q=human-predator%20conflict" title=" human-predator conflict"> human-predator conflict</a>, <a href="https://publications.waset.org/abstracts/search?q=India" title=" India"> India</a> </p> <a href="https://publications.waset.org/abstracts/98164/direct-and-indirect-impacts-of-predator-conflict-in-kanha-national-park-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/98164.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">156</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">10</span> Synthesis and Characterization of Pure and Doped Li7La3Zr2O12 Li-Ion Conducting Solid Electrolyte for Lithium Batteries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shari%20Ann%20S.%20Botin">Shari Ann S. Botin</a>, <a href="https://publications.waset.org/abstracts/search?q=Ruziel%20Larmae%20T.%20Gimpaya"> Ruziel Larmae T. Gimpaya</a>, <a href="https://publications.waset.org/abstracts/search?q=Rembrant%20Rockwell%20Gamboa"> Rembrant Rockwell Gamboa</a>, <a href="https://publications.waset.org/abstracts/search?q=Rinlee%20Butch%20M.%20Cervera"> Rinlee Butch M. Cervera</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In recent years, demand for the use of solid electrolytes as alternatives to liquid electrolytes has increased due to recurring battery safety and stability issues, in addition to an increase in energy density requirement which can be made possible by using solid electrolytes. Among the solid electrolyte systems, Li7La3Zr2O12 (LLZ) is one of the most promising as it exhibits good chemical stability against Li metal and has a relatively high ionic conductivity. In this study, pure and doped LLZ were synthesized via conventional solid state reaction. The precursor chemicals (such as LiOH, La2O3, Ga2O3 and ZrO2) were ground and then calcined at 900 °C, pressed into pellets and finally sintered at 1000 °C to 1200 °C. The microstructure and ionic conductivity of the obtained samples have been investigated. Results show that for pure LLZ, sintering at lower temperature (1000 °C) produced tetragonal LLZ while sintering at higher temperatures (≥ 1150 °C) produced cubic LLZ based from the XRD results. However, doping with Ga produces an easier formation of LLZ with cubic structure at lower sintering duration. On the other hand, the lithium conductivity of the samples was investigated using electrochemical impedance spectroscopy at room temperature. Among the obtained samples, Ga-doped LLZ sintered at 1150 °C obtained the highest ionic conductivity reaching to about 1x10⁻⁴ S/cm at room temperature. In addition, fabrication and initial investigation of an all-solid state Lithium Battery using the synthesized LLZ sample with the use of commercial cathode materials have been investigated. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=doped%20LLZ" title="doped LLZ">doped LLZ</a>, <a href="https://publications.waset.org/abstracts/search?q=lithium-ion%20battery" title=" lithium-ion battery"> lithium-ion battery</a>, <a href="https://publications.waset.org/abstracts/search?q=pure%20LLZ" title=" pure LLZ"> pure LLZ</a>, <a href="https://publications.waset.org/abstracts/search?q=solid%20electrolytes" title=" solid electrolytes"> solid electrolytes</a> </p> <a href="https://publications.waset.org/abstracts/50154/synthesis-and-characterization-of-pure-and-doped-li7la3zr2o12-li-ion-conducting-solid-electrolyte-for-lithium-batteries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50154.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">9</span> Rethinking Riba in an Agency Theoretic Framework: Islamic Banking and Finance beyond Sophistry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Arsalan">Muhammad Arsalan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The efficiency of a financial intermediation system is assessed by its ability to achieve allocative efficiency, asset transformation, and the subsequent economic development. Islamic Banking and Finance (IBF) was conceived to serve as an alternate financial intermediation system adherent to the injunctions of Islam. A critical appraisal of the state of contemporary IBF reveals that it neither fulfills the aspirations of Islamic rhetoric nor is efficient in terms of asset transformation and economic development. This paper is an intuitive pursuit to explore the economic rationale of established principles of IBF, and the reasons of the persistent divergence of IBF being accused of ruses and sophistry. Disentangling the varying viewpoints, the underdevelopment of IBF has been attributed to misinterpretation of Riba, which has been explicated through a narrow fiqhi and legally deterministic approach. It presents a critical account of how incorrect conceptualization of the key injunction on Riba, steered flawed institutionalization of an Islamic Financial intermediation system. It also emphasizes on the wrong interpretation of the ontological and epistemological sources of Islamic Law (primarily Riba), that explains the perennial economic underdevelopment of the Muslim world. Deeming ‘a collaborative and dynamic Ijtihad’ as the elixir, this paper insists on the exigency of redefining Riba, i.e., a definition that incorporates the modern modes of economic cooperation and the contemporary financial intermediation ecosystem. Finally, Riba has been articulated in an agency theoretic framework to eschew expropriation of wealth, and assure protection of property rights, aimed at realizing the twin goals of a) Shari’ah adherence in true spirit, b) financial and economic development of the Muslim world. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agency%20theory" title="agency theory">agency theory</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20intermediation" title=" financial intermediation"> financial intermediation</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20banking%20and%20finance" title=" Islamic banking and finance"> Islamic banking and finance</a>, <a href="https://publications.waset.org/abstracts/search?q=ijtihad" title=" ijtihad"> ijtihad</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20development" title=" economic development"> economic development</a>, <a href="https://publications.waset.org/abstracts/search?q=Riba" title=" Riba"> Riba</a>, <a href="https://publications.waset.org/abstracts/search?q=information%20asymmetry" title=" information asymmetry"> information asymmetry</a> </p> <a href="https://publications.waset.org/abstracts/88472/rethinking-riba-in-an-agency-theoretic-framework-islamic-banking-and-finance-beyond-sophistry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/88472.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">139</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">8</span> The Implication of Islamic Finance and Banking for the Sustainable Development in Bangladesh</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Khan%20Md.%20Abdus%20Subhan">Khan Md. Abdus Subhan</a>, <a href="https://publications.waset.org/abstracts/search?q=Rabeya%20Bushra"> Rabeya Bushra</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Bangladesh has already seen significant growth in Islamic banking and finance, contributing to the rapid expansion of this sector in the global banking and finance industry. The objective of this study is to analyse the Islamic finance and banking industry's ability to contribute to sustainable development in Bangladesh. It aims to assess the current state, potential, and limitations of Islamic banking and finance in the country. Bangladesh has significant growth potential for Islamic banking and finance. However, addressing several challenges is imperative. These challenges include the absence of a well-developed infrastructure for Islamic banking and finance, a lack of a solid legal framework, limited attention from the central bank, the absence of an Islamic capital market, and a shortage of experts in Sharia law as well as public awareness. Bangladesh, a nation characterized by a primarily Muslim populace, has acknowledged the importance of Islamic finance and banking in promoting sustainable development. Islamic banking principles advocate for ethical practices, risk sharing, and the avoidance of interest-based transactions. This article examines the impact of Islamic finance and banking on promoting sustainable development in Bangladesh and emphasizes its capacity to tackle socio-economic difficulties. The Islamic banking sector, as a trailblazer in funding sustainable development, has the potential to play a significant role in facilitating the shift toward a circular economy. According to Shari'ah rules and the Sustainable Development Goals (SDGs), Islamic finance principles will help change the linear economy into a circular one. They will also provide a strong framework and a lot of funding sources. This study aims to offer crucial recommendations and techniques for the successful implementation of Islamic finance institutions in Bangladesh. The study will use quantitative research methodology, collecting data from secondary sources. This research offers a thorough understanding of the reasoning for the payment of Zakat and its socio-economic importance. Furthermore, the study provides significant insights that could assist Bangladeshi policymakers and governments in implementing Islamic financing systems. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title="sustainable development">sustainable development</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20fintech" title=" Islamic fintech"> Islamic fintech</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=Bangladesh" title=" Bangladesh"> Bangladesh</a> </p> <a href="https://publications.waset.org/abstracts/187332/the-implication-of-islamic-finance-and-banking-for-the-sustainable-development-in-bangladesh" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/187332.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">41</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=Shari%27ah&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Shari%27ah&page=2" rel="next">&rsaquo;</a></li> </ul> </div> </main> <footer> <div id="infolinks" class="pt-3 pb-2"> <div class="container"> <div style="background-color:#f5f5f5;" class="p-3"> <div class="row"> <div class="col-md-2"> <ul class="list-unstyled"> About <li><a href="https://waset.org/page/support">About Us</a></li> <li><a href="https://waset.org/page/support#legal-information">Legal</a></li> <li><a target="_blank" 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