249 research outputs found
sj-docx-1-smo-10.1177_20503121231153755 – Supplemental material for Impact of COVID-19 on cardiovascular clinics: Are we ready for telemedicine?
No full textSupplemental material, sj-docx-1-smo-10.1177_20503121231153755 for Impact of COVID-19 on cardiovascular clinics: Are we ready for telemedicine? by Mustajab Mujtaba, Sapna Kotwani, Danish Qayyum, Tahir Saghir, Khalid Iqbal Bhatti, Muhammad Rahman Khalid, Muhammad Faisal Khanzada, Saba Aman, Khalil Ahmed Shaikh, Sharfuddin Buraro and Musa Karim in SAGE Open Medicine</p
Proposal for a New Economic Framework Based On Islamic Principles
No full textThis book provides a holistic socio-economic framework working in conformity with the Islamic principles. Chapter 2 builds the ground for the proposed framework by discussing the foundations of the ethical precepts of Islam. It discusses the thesis of religion, answers some of the questions in the comparative study of religion and tries to resolve few of the misconceptions about the faith of Islam. Chapter 3 outlines the economic teachings of Islam with regard to earning and spending. It discusses at length the ideals Islam set before its adherents in the ethical sphere of life. The ethical principles are discussed based on the study of relevant Quranic text and the narrations of Prophet Muhammad (PBUH). Chapter 4 studies the comparative economic systems. It analyzes Capitalism, Socialism, Mixed Economy and Islamic economic system. Chapter 5 introduces the salient features of the proposed economic framework with special focus on fiscal reforms. It discusses the potential of the institution of Zakat to meet fiscal needs of the government and to assist it in doing away with deficit financing, fiscal bleeding, crowding out private sector and reducing deadweight loss by parting the way with private sector so as to ensure market economy operating on its own as far as possible and playing an active regulatory role. Chapter 6 introduces the monetary reforms. It discusses how savings would feature despite discontinuation of interest, how inflation will be checked with central banks not having at their disposal conventional OMO, how liquidity will be managed in banking sector when a central bank wants to inject liquidity or mop up funds. How and to what extent the institution of Zakat would enable the government to meet its fiscal targets and does not crowd out private sector with public borrowing. How balance of payments and exchange rate stability can be managed in an interest free economy. If in the short term, the government or central bank needs alternative source of revenue other than Zakat, they can issue GDP linked bonds. This could replace T-bill and provide a base instrument for OMO and liquidity management in the banking and financial sector. Chapter 7 introduces the currently practiced Islamic Banking and Finance. Since Islamic economic principles have more prominently been used in banking and finance, much of the discussion centers on Islamic banking and finance in lieu of analyzing the existing practices and then in the next chapter, preferable alternatives in areas where shortcoming is observed and need for improvement is felt are suggested. Chapter 8 discusses the financial system in the proposed framework with the role of institutions and the discussion on comprehensive need fulfillment mechanisms to serve every major need of a sophisticated contemporary financial system. Some important novel changes are recommended, such as introduction of options in mortgage financing, which will allow the bank to separate the tenancy and sale contract in a distinctive way. This will still ensure that it locks the sale with the borrower or with the third party without making both contracts dependent on each other. It will benefit the bank as well as the borrower, who will have an option but not an obligation to buy the asset at maturity. The modified role of bank entering in a Mudarabah contract as a “Rabb-ul-maal” (investor) will ensure that the bank takes on operational risk. It will enable the resources to go into productive avenues rather than in financial instruments. This modification will generate employment and productive activities in the economy in a more direct manner. The division of Mudarabah corporate and Mudarabah consumer will target two very distinct markets and will result in channeling of funds from saving surplus units to saving-deficient units. Reforms in equity markets and alternatives for insurance are also suggested. Chapter 9 introduces feasibility and structure of Micro credit as an alternative for interest based micro finance. It discusses how the potential obstacles in the form of lack of trust, funding commitment, lack of collateral arrangement, lack of documentation etc would be handled.Interest Free Economy, Islamic Economy, Islamic Economic System, Islamic Monetary Policy, Islamic Fiscal Policy, Interest, Zakat, Riba, Usury, Development, Redistribution, Economic Systems, Financial System, Financial Intermediation, Saving, Investment.
Microcredit using Equity Financing: an Alternate Approach to Equity Financing in an Interest Free Financing
No full textInterest is prohibited in all monotheist religions; however, it features as an essential element in practiced capitalism. Interest based financial system has created two major havocs in last two decades i.e. in East Asia in 90s and in the Great Recession since 2007. This paper highlights the extent of development problems faced by the world. With interest at zero bound in U.S since 2008 and with unemployment at 11% level, scarcity of capital cannot solely explain this. However, interest based Microfinance has had mixed results. Interest based lending at Micro level is usually carried out at very high interest rates, more so when the lending takes place informally without institutional intermediation. Institutional intermediation serves a good purpose, but it can also be designed using equity modes of financing. This can relieve the financee and increase diversity of entrepreneurial activities as in debt based microfinance, not much diversity can happen with compulsory servicing of debt. The related questions as to how the institutional arrangement would work to carry out this system, how documentation problems be resolved, how trust level can be created, how effective monitoring can be undertaken and how the intermediaries generate finance themselves and mobilize funds are answered in this paper.nterest free economy, Public finance, Taxation, Inequality, Income redistribution, Islamic Economic System, fiscal policy, deficit financing.
Role of Central Bank in Islamic Finance
No full textThe rapid growth in Islamic finance industry urges us to not only look for alternatives in the Islamic commercial banking, but also focus on the regulator and its role and functions to enable it to work in conformity with Islamic principles. This study reviews limited, but precious academic literature on central banking and monetary management in an environment where Islamic finance is in vogue. Refinance ratio and Qard-e-Hasan ratio and Mudarabah between central bank and Islamic commercial banks are in line with Islamic principles and helps meet liquidity requirements in the banking sector. Mudarabah can be done with profit sharing ratio benchmarked on economy’s nominal income growth. We have presented the evidence on statistical equivalence of nominal Interest rates (being used in conventional banking) and Nominal GDP growth rate (we are recommending to use). The nominal GDP growth linked rate of remuneration can be used to benchmark for external loan arrangements including those from IMF, WB and IDA etc. We suggest central banks particularly in Muslim countries to use nominal income targeting as a rule for the conduct of monetary policy.Islamic Finance, Islamic Banking, Central Bank,Nominal Income Targetting, Inflation Targetting.
Corporate finance in an interest free economy: An alternate approach to practiced Islamic Corporate Finance
No full textThis paper suggests an alternate approach to corporate finance in an interest free economy by looking beyond practiced Islamic finance and suggesting alternatives for corporate finance in sourcing funds i.e. i) Ijara with embedded options, ii) limited liability partnership, iii) equity modes like Musharakah and Mudarabah iv) income bonds and v) convertible income bonds. It also suggests alternatives for corporate finance in using funds i.e. i) Islamic income funds, ii) Islamic REITs, iii) Treasury Bonds, iv) income bonds v) convertible income bonds, vi) foreign currency reserves, vii) making strategic expansion, and viii) equity investments in other companies. It also suggests methods of valuation by suggesting an alternate means of pricing capital in interest free economy and use of appropriate discount rate i.e. Nominal GDP growth rate in public finance and corporate finance in CAPM, dividend discount model, project valuation, calculating NPV, valuing income bonds and stocks. It also discusses how the problems of scarcity of capital will be solved and alternatives for insurance in an interest free economy.Islamic corporate finance, pricing of capital, Islamic public finance, scarcity of capital, Interest free economy, Interest free finance, Zakat, Usury, Time value of money, CAPM, Project evaluation, NPV, FCF
Looking at the Traces of Islamic Education in Saudia Arabia (Study of the History of Islamic Education)
No full textThis research aims to find out the names of Islamic educational institutions, and to find out some of the names of educators and Islamic education figures. In this research the author uses historical methods or historical methods. The historical method consists of data collection, source criticism, interpretation and finally historiography. The research approaches used in this research are the geographical approach, sociological approach, educational approach and historical education. The results of this research are A) Saudi Arabia has 34 universities, with details of 26 state universities, namely: 1) Universitas Raja Saud, 2) Universitas Islam Madinah, 3) Universitas Raja Fahd untuk Perminyakan dan Mineral, 4) Universitas Raja Abdul Aziz, 5) Universitas Islam Imam Muhammad bin Saud, 6) Universitas Raja Faisal, 7) Universitas Umm Al-Qura, 8) Universitas Raja Khalid, 10) Universitas Qashim, 11) Universitas Taibah, 12) Universitas Ta\u27if, 13) Universitas Raja Saud bin Abdul Aziz untuk Ilmu Kesehatan, 14) Universitas Al-Bahah, 15) Universitas Ha\u27il, 16) Universitas Al-Jauf, 17) Universitas Jazan, 18) Universitas Najran, 19) Universitas Tabuk, 20) Universitas Putri Nurah binti Abdurrahman, 21) Universitas Al-Hudud Asy-Syamaliyyah, 22) Universitas Dammam, 23) Universitas Pangeran Salman bin Abdul Aziz, 24) Universitas Syaqra, 25) Universitas Al-Mujamma\u27ah, dan 26) Universitas Elektronik Saudi. dan 9 Perguruan Tinggi Swasta, yaitu: 1) Universitas Pangeran Sultan, 2) Universitas Terbuka Arab, 3) Universitas Internasional Al-Madinah, 4) Universitas Al-Yamamah, 5) Universitas Raja Abdullah untuk Sains dan Teknologi, 6) Universitas Al-Faisal, 7) Universitas Pangeran Muhammad bin Fahd, 8) Universitas Pangeran Fahd bin Sultan, dan 9) Universitas Darul \u27Ulum. B) several figures and educators in Saudia Arabia are: 1) Ibn Taimiyyah Rahimahullah, 2) Muhammad Ibn Abd Al-Wahab Rahimahullah, 3) Abdul Aziz bin Shalih bin Nashir bin Abdurrahman Alu Shaikh rahimahullah, 4) Syaikh Abdul Aziz bin Abdullah bin Baz Rahimahullah, dan 5) Syaikh Muhammad bin Shalih al-Utsaimin Rahimahullah
سوانح اقبال میں حالات و واقعات کے اشتراک و اختلاف کا تحقیقی مطالعہ بحوالہ خصوصی (اقبال درونِ خانہ ، مظلوم اقبال ، زندہ رود): A RESEARCH STUDY OF CO-OCCURRENCE AND DIFFERENCE OF CIRCUMSTANCES AND EVENTS IN IQBAL'S BIOGRAPHY
No full textBiographies of Iqbal have been written by biographers from “Iqbal” by Ahmad Din to the present day. The authors described the situation and events in their own way. There is a difference of opinion in these events. The need for further research was felt when members of Iqbal's own family, including Khalid Nazir Sufi, Javed Iqbal and Shaikh Ijaz Ahmad, wrote biographies of Iqbal and differed greatly in the opinions of these authors. The present article discusses some of these differences
Digital Twins and Engineering Education: Current Status
No full textThis paper presents a comprehensive review of the use of Digital twins in engineering education among various disciplines. A total of 83 research papers were analyzed, spanning the last decade from 2012 to 2022. Almost all publications were reported after the year 2018, indicating a recent surge in interest and development in this area. The review reveals that digital twin technology offers students an interactive experience with virtual models of real-world products and systems, significantly enhancing the effectiveness of engineering education. It also improves industrial competitiveness through predictive maintenance and fault diagnosis. Digital twins can be used in various engineering disciplines and for personalized learning. However, challenges such as model accuracy and data transfer must be considered when implementing them. Overall, this technology can improve student learning outcomes, increase education accessibility and cost-effectiveness, and improve production systems\u27 safety, visibility, and accessibility. Future requirements of the field are also discussed in this paper
Socially Shared Metacognition of Students in Computer-Supported Programming Tasks and Their Stance on the Difficulty of the Task
No full textThe internet has brought much emphasis to online collaborative learning, where learning is connected to co-constructing understanding and knowledge about subjects and tasks through collaboration and conversation. This research centers on several groups of students undertaking a programming project in a Zoom-based environment” or “via Zoom meetings. The paper proposes that socially shared metacognition is most effective in group-based problem-solving. It is a process in which one member of the group helps regulate the whole group’s process of solving a problem and elicits other members’ reactions to this proposal. The feeling of difficulty in performing the task helps ascertain and display the role of group interaction in individual learning. The paper also proposes that the increase in socially shared metacognition decreases the level of difficulty of a problem and thus alleviates individuals’ feelings of task difficulty
Digital Twins and Engineering Education: Current Status
No full textThis paper presents a comprehensive review of the use of Digital twins in engineering education among various disciplines. A total of 83 research papers were analyzed, spanning the last decade from 2012 to 2022. Almost all publications were reported after the year 2018, indicating a recent surge in interest and development in this area. The review reveals that digital twin technology offers students an interactive experience with virtual models of real-world products and systems, significantly enhancing the effectiveness of engineering education. It also improves industrial competitiveness through predictive maintenance and fault diagnosis. Digital twins can be used in various engineering disciplines and for personalized learning. However, challenges such as model accuracy and data transfer must be considered when implementing them. Overall, this technology can improve student learning outcomes, increase education accessibility and cost-effectiveness, and improve production systems\u27 safety, visibility, and accessibility. Future requirements of the field are also discussed in this paper
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