Al-Shajarah Journal of the International Institute of Islamic Thought and Civilization (ISTAC)
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Introductory Notes on Abdullah Munshi's Hikayat Binatang
No full textThe first school textbook written in the Malay language (1846) is Bahwa Ini Hikayat Binatang (On the Chronicle of Animals) on the subject of Zoology, which is an important part of Natural History. It discusses animal species, their habitats, their uses by men, their bodily features in great details and their habits as well as the geographical areas and climates of their countries of origin; the area where they were first found in those countries and the climates and how they were later brought and transported to other places where they were again reared therein as their second home. The book is probably the first Malay printed work in Latin script on Natural History. It is quite possible that it is also the first work on modern scientific knowledge in Malay
NEITHER CREATED NOR DESTRUCTIBLE: IBN SINA ON THE ETERNITY OF THE UNIVERSE
No full textThis article discusses Ibn Sīnā’s reasons for upholding the eternity of the world in his major philosophical writings and the ensuing heated debate between his detractors (al-Ghazālī, al-Shahrastānī and al-Rāzī) and supporters (al-Ṭūsī and al-Āmidī). I argue that notwithstanding the responses and surrejoinders it had elicited, Ibn Sīnā’s position on the issue is indeed coherent and irrefutable, since he distinguishes three modes of eternity, corresponding to the hierarchy of beings which he introduced, namely, (i) absolutely eternal (by virtue of itself); (ii) relatively eternal (by virtue of something else); and (iii) not eternal both considered per se as well per aliud. With this distinction he evades both horns of the dilemma: either the universe is eternal or it is not eternal. On Ibn Sīnā’s account, therefore, the universe is both eternal and not eternal. It is eternal because the efficient cause that necessitates and sustains its existence is eternal, but also not eternal in view of its essential contingency. 
MORE THAN TOLERANCE: THE ISLAMIC CALL FOR INTERRELIGIOUS REVERENCE
No full textWhat is the Qur’ān’s stance towards religions other than Islam? May non-Muslims find salvation? If they do, as the Qur’ān seems to suggest in verses 2:62 and 5:69 explicitly, how does that make sense in light of verses which seem to deny this possibility for those who subscribe to any understanding of God which differs from that of Islam? We look for the answers mostly in the verses that are related to Judaism, Christianity, their adherents, religious diversity, and the ultimate criterion for salvation. We conclude that the Qur’ān takes a generous stance towards the other two Abrahamic traditions and their adherents; moreover, verses 2:62 and 5:69 are fully justified in view of the nature and function of the primordial human nature (fitrah), the heart, and the true meaning of submission to God. In short, the Qur’ān’s stance towards other religions goes well beyond mere tolerance
NOTES ON CONTRIBUTORS - SPECIAL ISSUE: EDUCATION 2018
No full textNotes on Contributors - Special Issue: Education 201
ARE THE NEW CRYPTO-CURRENCIES QUALIFIED TO BE INCLUDED IN THE STOCK OF HIGH QUALITY LIQUID ASSETS? A CASE STUDY OF BITCOIN CURRENCY
No full textAs crypto-currencies hold dual nature of a medium of exchange (currency) and an investment asset, some questions may arise about the potentiality of including crypto-currencies as liquid investment asset in financial institutions particularly in the banking sector to enhance their liquidity risk management and improve their portfolio diversification investment strategy. The objective of this study therefore is to examine the characteristics of Bitcoin currency based on the requirements of High-Quality Liquid Assets (HQLA) standards of Basel III and compare its volatility structure with other traditional asset classes that are already recommended by Basle III as HQLA. The study utilizes both descriptive and quantitative analysis using the GARCH family models to examine the volatility structures of these assets. The findings show that Bitcoin currency holds the same characteristics of HQLA, however; the risk of legality and recognition is still under consideration by legal authorities around the world and this risk will be eradicated in the future as crypto-currencies derive their legality from their real intrinsic value, multi-economic usefulness and not by law as in the case of fiat money currency. Furthermore, the symmetric volatility structure analysis shows the continuing persistence of volatility and predictability behavior in return series of Bitcoin currency and other- traditional asset classes in the U.S. market. However, Bitcoin’s stability has gradually improved over time. With regard to the asymmetric informative response, Bitcoin returns respond more to negative shock but it has no statistical significance, thus suggesting the lack of leveraging effect in Bitcoin market but this effect was found to be statistically persistent in other traditional asset class markets. In addition, Bitcoin returns show very low correlation with other traditional asset classes. All these imply that Bitcoin is a potential candidate as a hedge and asset diversifier, which is recommended to be included in the HQLA. This study provides some support to recent theoretical work on crypto asset return behaviour and liquidity risk management. The findings provide appropriate information about Bitcoin asset behaviour compared to other traditional asset classes which will enable them to make the right investment decision with regard to hedging, diversification and liquidity risk management. The findings of this study may assist in evaluating the suitability of including crypto assets into HQLA to improve the liquidity requirement standards and ensure that banks have an adequate amount of HQLA specifically during times of financial turmoil
BUILDING CIVILISED FAMILY RELATIONS: TOWARDS A NEW DISCOURSE OF FAMILY FIQH IN THE MILLENNIAL ERA
No full textIn the context of the complex family life in the millennial era today, a fresh Islamic family legal discourse (family fiqh) is necessary in laying the foundation for civilised and just family relations that uphold humanity values. One stream of contemporary Islamic thought that strongly argues for this new discourse of family fiqh is progressive Islam. This school of thought firmly believes that all human beings are equal and must receive fair treatment at all levels of life, including in family relations. This paper seeks to examine how progressive Islam proposes this new discourse of family fiqh that reflects and accommodates the values of equality, justice and humanity. It will be argued that in this view of progressive Islam, there is a need for transformation towards a new family fiqh which upholds human values and equality whilst delivering Islamic thought acceptable to all circles and compatible with family life demands in the millennial era. The paper will also shed some light on the importance of premarital education based on this new discourse of family fiqh
LINKING WOMEN EMPOWERMENT AND CHILDREN’S RIGHT TO EDUCATION AND THE QUEST TO REDUCE VULNERABILITIES
No full textNotwithstanding the fact that children’s right to education is a gateway to the enjoyment of many other human rights, it can be hampered and impeded in various ways. The fact that millions of children have no access to primary education signifies the looming global crisis of children’s vulnerabilities. The right to access education is in urgent need of improvement. Closely linked to the right to access education for everyone is the empowerment of women. Various studies have shown that the empowerment of women plays a crucial role in enhancing children’s right to access education. This paper intends to highlight the link between women empowerment and the increase of access to education for children. The paper begins with the explanation of the concept of children’s right to education and women empowerment. Thereafter it illustrates the negative impact of the infringement of women’s rights and the denial of education. The paper also discusses the positive impact on education and the empowerment of women in society by looking at the experiences of selected projects in different jurisdictions. An analysis on the right to education and the role of women empowerment is the core of this paper. Adopting a qualitative study, this research shows that the human rights of different right holders are interconnected and should be utilised to enhance one another
EXPLORING WAQF-BASED TAKAFUL FUND AS FINANCIAL AID FOR THE B40 GROUP IN MALAYSIA
No full textFamily and life takaful play an important role in providing individual financial security especially for 40 percent of households with the lowest income (B40) who are considered to be a vulnerable group in the event of financial depression. The household income for B40 is below RM3,860 per month and is expected to increase to RM5,270 in 2020 as stated in the 11th Malaysia (Economic) Plan. The importance of family and life takaful becomes more significant with increasing risks faced by the B40 such as the higher cost of living, lower savings and high indebtedness, which in turn expose this group to the risk of economic insecurity. Some initiatives have been introduced in order to help the B40 groups such as giving financial aid to encourage them to be involved in entrepreneurship, providing special training sessions to enable them to manage their finances, and providing special takaful coverage (group takaful) for the B40. The objectives of this paper are to explore the viability of establishing a takaful fund for this target group by leveraging on the waqf model; to investigate the extent of the ownership of family and life takaful among the B40; and to identify how the waqf fund can potentially become a mechanism to initiate an exclusive takaful coverage for the B40. This research has been conducted using the qualitative method by focusing on articles, journals and library-based sources. The paper also identifies the Takaful as providing the element of savings and security to policy owners, who usually the main income earner or breadwinner, if something untoward happens and they require financial aid in the future. Besides, takaful is also presented as a savings mobilizer, financial intermediary and promoter of investment activities. 
NOTES ON CONTRIBUTORS - VOL. 23, NO. 2 (2018)
No full textNotes on Contributors - Vol. 23, No. 2 (2018