252 research outputs found
Sense Making of the Congruence of Comprehension between Two Listeners of the Speech on "Budi Sejahtera Leadership"
No full textYusof Ismail
Dzuljastri Abdul Razak
Suhaimi Mhd Sarif
Receiving information from indirect sources is common in daily lives. This may be due to the time constraint, giving priority to one’s current engagement, physical distance, mandatory non-face-to-face communication, and other factors. In fact, most of an individual’s time is spent on processing indirect information whether one deals with his office work or family matters. This chapter shows the extent of congruence that is identified by a co-author based on the description of the other two co-authors who attended the talk on the topic of “Budi,” “Sejahtera,” and “Leadership.” The lead author created and sent an attachment that contains a combination of dichotomous and open-ended questions related to the three-terminology theme to the other co-authors for their independent views. He analyzed their textual opinions and produced his analysis of the converging and diverging themes based on the opinions provided. This case study helps people become aware of the varying amount and depth of information acquired by listeners to a public lecture, moreover via online platform rather than among the audience of a lecture in a hall. In this case, only two listeners are involved, making content analysis easy.
Keywords: Budi, Communication, Comprehension, Information, Islam, Listening, Malay, Sejahtera
Alternative mode to Islamic home financing
No full textA Canadian-based cooperative is looking at forging a working relationship with a Malaysian cooperative to develop the musharakah mutanaqisah (diminishing partnership) mode for home financing. The initiative, discussed at a recent conference organised by the IIUM Institute of Islamic Banking and Finance (IIiBF), could possibly bring forward another venue for Islamic finance financing via the coperative movement. Dzuljastri Abdul Razak, a senior academic fellow at International Islamic University Malaysia's (IIUM) Kulliyah of Economics and Management Sciences discusses the issue
Imaginary transformation of budi from process perspective
No full textIs “budi” an input? Is it a “process”? Is it an “output”? Does it represent all three from a system perspective? “Budi” as a terminology is found in Kamus Dewan (4th edition), D.B.P. “Budi” is also found in Kamus Besar Bahasa Indonesia (KBBI). Budi does not only function as an independent word with its unique concept, it also has close and distant synonyms. We desire to look at “budi” from a systems perspective because this orientation will provide us with linkages among the related concepts and make us appreciate the contributions of each word-concept. “Budi” may be considered a resident in the field of arts, but it is indeed an art when integrated into a living reality. Such empathic understanding will make us adopt an appropriate stance with each word-concept and the implications of its combinations. The essay proposes how to apply our understanding of “budi” in a university setting
Humanizing education: achieving sustainable development goals through m-kitchen in aid for needy in the covid 19 pandemic
No full textThe Covid-19 pandemic has affected the ASNAF and B40 groups due to the mandatory lockdown that restrict face to face business. This situation has made them to be vulnerable in their livelihood leading to hunger and poverty. m-Kitchen is a model that utilizes mosque kitchen for the preparation free food for consumption. The model can also be used to train these groups to be self-dependent entrepreneurs to generate their own income. The purpose of this study is to investigate the link of m- Kitchen objectives to sustainability development goals (SDG). It will utilize literature review and content analysis in its methodology The results would provide a new body of knowledge and guidelines on how the m-Kitchen operations can aid in meeting SDG and address issues faced by ASNAF and B40 in the pandemic
Human resources and Islamic microfinance sustainability: an empirical study of Baitul Maal wat Tamwil in Indonesia
No full textThe main purpose of this study is to determine empirically the relationship between human resource adequacy and the sustainability of BMT in Indonesia. This study used triangulation design as its research method. The total number of 285 questionnaires were distributed manually to BMT staffs and analyzed using SPSS. In addition, this study also conducted semi-structured interviews with some managers of BMT.. The results indicated that human resource resource adequacy has a significant impact on the sustainability of BMT an the relationship is positive.
Budi and Sejahtera leadership in economics and management sciences with Tawhidic paradigm and Maqasid al-Shari'ah.
No full textThis book compiles reflection essays into 15 chapters on budi and sejahtera leadership from a combination of language, economics and management sciences, Tawhidic paradigm and Maqasid al-Shari’ah.
The editors welcomed authors to contribute the titles that they were comfortable with. Since the book is primarily conceptual, the editors imagine that its spirit will be relevant, in contrast with a work that is based on primary data.
There are two chapters that reflected on economics as written in Chapter 1 by Muhammad Irwan with Islamic economics reflections based on verse 165 Surah al-An’am, and Chapter 3 by Jarita on Budi and Sejahtera leadership in research project team.
Budi in business administration appeared in Chapter 2 by Dolhadi and Suhaimi. In the Chapter, the authors related budi bicara in formulating vision, mission and objectives. In Chapter 5, Dolhadi, Suhaimi and Yusof discussed on budi, knowledge and hikmah in business administration programs.
The same authors explained about Budi Sejahtera practices in entrepreneurship in Chapter 8, and in Chapter 13 by Suhaimi wrote about Budi Sejahtera and social innovation.
The finance perspectives of sejahtera leadership were argued by Azniza in Chapter 4 as the means to rahmatan lil ‘alamin, whereas Fadhilah explained budi by referring to the examples of Prophet Muhammad s.a.w. in Chapter 14. Rafiqa attempted to establish the relationship between sejahtera leadership and SDGs in Chapter 15.
The general reflections on budi and IIUM courses were shared by Nesamalar in Chapter 6. Chapter 9 by Suhaimi, Yusof and Dzuljastri deliberated on imaginary transformation of budi from process perspective.
Yusof presented his perspectives on budi pekerti and its implications at workplace in Chapter 10.
Two inter-related chapters are 11 and 12. Yusof, Dzuljastri and Suhaimi deliberated on sense making of the congruence of comprehension on budi sejahtera leadership talk in Chapter 11. With a slight twist, Yusof ventured into reinforcement of budi through pantun in Chapter 12
Home financing through the Musharakah Mutanaqisah contracts: Some practical issues
No full textMeera and Abdul Razak (2005) compared the al-Bay’ Bithaman Ajil (BBA) and the Musharakah Mutanaqisah Partnership (MMP) contracts. The BBA, a murabahah contract, was argued to be problematic and even unIslamic for long-duration contracts. The MMP contract which is a combination of musharakah (partnership) and ijarah (rental) contracts was argued to be a more appealing alternative. In the MMP, the equity of the financier diminishes progressively while, in accordance, the equity of the customer grows. Unlike for the BBA contract, scholars are consensus on the Shari’ah permissibility of the MMP contract. A mathematical derivation for the MMP showed that the formula for the MMP to be similar to the formula used in conventional loans but nonetheless with the interest rate replaced with the rental rate. Therefore, one major advantage of MMP was argued to be that it can avoid interest (riba) totally. Also, unlike under the BBA, the balance of financing, at any point in time, never exceeds the original price of the asset. Nevertheless, some practical issues need to be addressed particularly the means of estimating the rental rate, tax issues, defaults and asset value appreciation. This paper discusses these issues. When not profitable for the banks when rentals rates fall short of interest rates, the MMP can be implemented through cooperatives, which can be also an investment avenue for members
Home Financing through the Musharakah Mutanaqisah Contracts: Some Practical Issues
No full textMeera and Abdul Razak (2005) compared the al-Bay’ Bithaman Ajil (BBA) and the Musharakah Mutanaqisah Partnership (MMP) contracts. The BBA, a murabahah contract, was argued to be problematic and even unIslamic for long-duration contracts. The MMP contract which is a combination of musharakah (partnership) and ijarah (rental) contracts was argued to be a more appealing alternative. In the MMP, the equity of the financier diminishes progressively while, in accordance, the equity of the customer grows. Unlike for the BBA contract, scholars are consensus on the Shari’ah permissibility of the MMP contract. A mathematical derivation for the MMP showed that the formula for the MMP to be similar to the formula used in conventional loans but nonetheless with the interest rate replaced with the rental rate. Therefore, one major advantage of MMP was argued to be that it can avoid interest (riba) totally. Also, unlike under the BBA, the balance of financing, at any point in time, never exceeds the original price of the asset. Nevertheless, some practical issues need to be addressed particularly the means of estimating the rental rate, tax issues, defaults and asset value appreciation. This paper discusses these issues. When not profitable for the banks when rentals rates fall short of interest rates, the MMP can be implemented through cooperatives, which can be also an investment avenue for members
Diminishing partnership home financing concept as an alternative to Bai Bithaman Ajil (BBA): empirical evidences from the perceptions of Shariah scholars and bankers
No full textMeera and Abdul Razak (2005) suggested that the Diminishing Partnership (DP) Home Financing concept can be a viable alternative to Bai Bithaman Ajil (BBA) Home Financing. They argued that DP concept can address issues faced by BBA which is still the main financing mode of Islamic financial institutions to date. The major issues that have arisen are related to the concepts used, methods of computation, pricing based on interest rate benchmark, Shariah compliant, justice and societal well being. On the other hand, the DP concept is claimed to be free from the above mentioned shortcomings and said to be in line with the spirit of Islam, which promotes risk sharing and its pricing based on rental is considered to be just and fair. As these issues requires in depth understanding of the Shariah parameter as well and banking operations, semi-structured interviews were conducted with six Shariah scholars and six bankers to seek their opinions and viewpoints on the variables investigated. The Shariah scholars generally agreed that DP concept possess greater justice, equity and follows the true spirit of Islam. Contrary to expectation, the overall views of the bankers support the implementation of DP, although there were a few reservations regarding its operations. The actual implementation of DP is a challenge for bankers which require a paradigm shift from their present role as traditional financiers.
Key words: Islamic home financing, Bai Bithaman Ajil (BBA), Diminishing Partnership (DP), Shariah scholars, Bankers and Shariah compliant
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