Minhaj University OJS
Not a member yet
98 research outputs found
Sort by
The Significance of Sukuk in Facilitating Small and Medium Enterprises (SMEs)
No full textSmall and medium-sized enterprises (SMEs) play a crucial role in fostering economic growth and generating job opportunities. However, these enterprises face many obstacles when seeking external funding. This paper aims to analyze the current developments in the funding alternatives accessible to small enterprises. In the process of assessing the barriers to obtaining foreign loans, we also analyze the function of Sukuk, which has seen a notable increase in importance within the Islamic financial system. Sukuk refers to a kind of debt instrument that does not include the accrual of interest, in contrast to traditional bonds. The Sukuk market exhibits distinctive characteristics, including securitization and real return on assets, which distinguish it from other financial markets. Nevertheless, small and medium-sized enterprises (SMEs) have challenges in accessing affordable financing options from the market. The objective of this study is to provide insight into the obstacles encountered by small and medium-sized enterprises in their pursuit of financial resources. Additionally, there are potential strategies to alleviate the aforementioned issues. This report also assesses the novel finance methods that leverage state-of-the-art technical advancements. This paper elucidates the economic ramifications of the sukuk market and its integration into the blockchain network
INTERFAITH DIALOGUE: THE WAY FORWARD FOR CHRISTIANITY AND UNDERSTANDING INCARNATION THEOLOGY
Full text linkThe three Abrahamic traditions, each in their own way, proclaim that the Almighty has spoken his Word to human beings who, in return speak their words of prayer and praise. Such is the dialogue between heaven and earth. It is entirely proper, therefore, that the members of these traditions should engage in interfaith dialogue, and not only they but also the members of non-Abrahamic traditions, who proclaim a communication between the transcendent and earthly spheres. Christianity for its part proclaims that Jesus of Nazareth is the Word made flesh (Jn. 1:14), for which the theological term is ‘incarnation’.
In this article, I note that the Catholic Church now acknowledges and welcomes all that is true and holy in other religions. I then examine the four interfaith dialogues – of life, of cooperation, of theological exchange and of spiritual experience – making the point that they do not constitute a threat to Christianity, but on the contrary open up new paths and possibilities for its development, and particularly for understanding more fully the incarnation of the Word. Indeed, I propose that Christians can listen to and learn from non-Christian religions in such a way that they grasp their own tradition more clearly and assent to it more wholeheartedly. Meeting and working with others are forms of incarnation; learning from others and experiencing their religious experience are other forms of incarnation.
In this way, the unique and unparalleled enfleshment of Jesus Christ can be appreciated more fully. I also make the point that these four forms of interfaith dialogue, examined from the Christian point of view, are applicable to other faiths. I will at times recount some personal anecdotes that exemplify how my interfaith experiences have helped me better understand incarnation theology
WE ARE ALL IN THE SAME BOAT: COMMENTARY ON A PROPHETIC ALLEGORY
Full text linkIn this famous narration (hadith) transmitted by the authors of the most authentic hadith collections, Nu'man ibn Thabit heard Allah's Apostle, peace be upon him, making a beautiful allegory of a human society as a boat with travelers on and under its deck. The people in leadership, who are at the rudder and who are entitled to divide the drinking water among all the passengers, should not allow some egoists under the deck to drill a hole inside the boat. If they let them do so, the whole boat will sink, killing all the passengers. We are now living in an interconnected global village. We could take the recent Covid pandemic, which made no discrimination among all the countries of the world, as an apt illustration of this global reality. What lessons can we learn from this narration (hadith) and which conclusions we can draw from it? How we can make sure that the rudder will not to be passed into improper hands? And how can upright, spiritually developed people regain command of the rudder again after having lost it? What are the most common mistakes that could occur from the effort to regain control? These are questions addressed by this study, which is based on the classical Islamic interpretative tradition and also from insights gained from contemporary realities
Religion and Politics: A Perspective on their Interdependence in Contemporary Society
Full text linkThe human origins of religion and politics and their development up to the present day is indeed mind boggling. Although we cannot possibly determine when exactly religion and politics began in historical terms, these two realities must have originated when humans started becoming aware of their relationship with ‘the Absolute’ and with their fellow human beings. Religion and politics have been a significant part of human life and social behaviour ever since. The resurgence of religion and politics in the institutional life of society across the globe requires a fresh discussion about that the role religion and politics play in human interaction today. This article attempts to dissect the compromises and anomalies of these two social institutions – religion and politics
Inter-Religious Dialogue in Australia: Achievements and Challenges
Full text linkWith regard to cultures and faith traditions, Australia is one of the most diverse nations in the world. At the same time, it is remarkably if not perfectly harmonious. What lessons can be gleaned from its successes and failures? This article will consider aspects of interfaith dialogue in Australia within the three categories of exclusivism, pluralism and inclusivism, and with particular reference to the Catholic tradition which I know best. The Australian experience may be useful to compare and contrast with other contexts
THE SECULARIZATION PROJECT IN THE LIGHT OF BEDIUZZAMAN SAID NURSI’S RISALE-I-NUR
Full text linkThis article attempts to understand the ‘secularization’ project from a sociological perspective based on Bediuzzaman Said Nursi’s view on modernity and the waning of Islamic values in modern society. The article focuses on the historical context of his exegesis (tafsir) in his major work: Risale-i-Nur. A comparison is made between the decline of the Ottoman Empire, which formed part of the historical context in which Nursi was writing and the kind of social change we experience in the 21st century. An attempt is made to ascertain the compatibility between Islam and modernity according to Nursi. The article concludes by exploring the possibility of applying Nursi’s analysis to the heterogeneous Muslim communities living in the modern world
Global Financialization Effects and the Role of Islamic Finance Institutions
No full textFinancialization refers to the growing importance of financial activities as a source of profits in the economy, distinguishing the dominance of the finance sector over all other industries. This includes the gradual change in operations of many traditional manufacturers who have turned to generate income through financial means rather than the mere provision of goods to their customers. Financialization has increased the power of the rentier class within society, the preeminence of maximizing the shareholder value principle among corporate management, the dominance of capital markets over bank-based finance, and the surge of financial trading with the help of new financial instruments and technology. Several studies argue that there is a massive impact on the economic and financial industry since financialization has become prominent around the globe. Therefore, there is a need to come up with structural changes to support and help the financial industry for its betterment. In this paper, we will discuss the effects of financialization in several studies and explore the role of Islamic finance in this regard and how Islamic finance principles can help and support financial institutions to avoid another economic and financial crisis in the days to come.
SPIRITUALITY AND INTERRELIGIOUS ENCOUNTER: LEARNING FROM THE INAUGURAL SESSION OF THE WORLD CONGRESS OF FAITHS 1936
Full text linkIn 1936, the British explorer, ex-military officer, mystic, and religious-searcher-after-truth, Sir Francis Younghusband, gathered an array of eminent religious intellectuals and leaders, philosophers and scientists, in London for the inauguration of what became the World Congress of Faiths, one of the first international interfaith organizations of the twentieth century. This article highlights four essential features of this ground-breaking Congress in scope and depth, features which have remained perennial ever since. Chief among these features was the wrestling – by Jews, Christians, Muslims, Buddhists, Hindus, Humanists, Confucians, Baha’is, Scientists, Economists, and philosophers – with issues of what it means to celebrate phenomenal religious difference yet within an overall aspiration to unity in transcendent reality. The article traces the trajectories of the Congress and links them to similar aspirations in current debate. By grounding current debate in an older and formative cultural moment the writer demonstrates how theories of religious pluralism have roots in collaborative comparative forays from a creative period in twentieth century religious thought
The Middle Way: Buddhist Approaches Towards Interreligious Dialogue
Full text linkThis article analyzes two important Buddhist sources (Sandaka-sutta and Apaṇṇaka-sutta) and argues that the Buddhist way of interreligious discourse is expressed most adequately by means of the Middle Way, which should be understood as the avoidance of every kind of extreme view. The Middle Way accepts both the religious effort of the missionary as well as pluralistic or relativistic views of religion because human beings have a right to promote their own religion provided they observe moral principles. This article argues that genuine conviction (saddhamma-saññatti) does not encourage self-aggrandizement by disparaging others. The author states that the pluralistic outlook of Buddhism is exclusivist with respect to its claim to truth but relative in relation to other religions. The canonical literature of Buddhism records numerous Buddhist encounters with the followers of other religions based on mutual respect, acceptance of the right for missionary endeavor and the preservation of an attitude of tolerance
Religion, Conflict and Peacemaking
Full text linkThis article explores the reluctance or unwillingness of modern society to cross the boundaries that have been fixed for religion and politics. Many contemporary civilizations keep religion apart from politics and from all forms of government. A more primordial way of thinking, however, claims that a fundamental relationship between religion and politics remains in effect even in societies where there is no close connection between them. The primordial approach considers ethnicity and religious belonging to be the determining characteristics of communities and individuals. The new awareness of religious plurality evident in the contemporary world has enabled various methods of interreligious dialogue to become instruments of peacemaking