245 research outputs found
Inter-bank cooperation between Islamic and conventional banks in Pakistan
Full text linkThesis(Master) --KDI School:Master of Business Administration,2007Outstandingmasterpublishedby Shakir Ullah
Fatwa repositioning: the hidden struggle for Shari’a compliance within Islamic financial institutions
No full textIslamic Financial Institutions (IFIs) have recently witnessed remarkable growth triggered by an increasing Islamic awareness, rising oil revenues in the Gulf and IFIs’ holistic business model. The key selling factor, however, is their Shari’a-based business proposition which often requires some financial sacrifices e.g. being ethical, responsible and philanthropic. It also requires them to refrain from investments in tobacco, alcohol, pornography or earning interest. On the other hand, for IFIs’ sponsors and managers, the key motivational factor of entrance into the Islamic financial market is not their desire for achieving Shari’a objectives through the holistic business model but rather the desire to tap this highly profitable market where customers are inclined to pay a premium for Shari’a compliance. In order for IFIs to be accepted by the market, they need to be certified by Shari’a scholars, known for their integrity and expertise in Shari’a. One can, therefore, expect potential tensions between IFIs’ managers and Shari’a scholars. The purpose of this research is, thus, to probe the struggle for achieving a high level of Shari’a compliance in the presence of a desire for business objectives within Islamic banking.The research explores the following questions. Firstly, who determines and defines Shari'a compliance? In other words, is it the Shari’a scholars who dictate Shari’a compliance ormanagers or an alliance between the two? Secondly, what are the various levels of Shari’a compliance within IFIs? Thirdly, what causal and intervening factors determine the level of Shari’a compliance within IFIs? Fourthly, what strategies are adopted by Shari’a scholars and managers to tackle this phenomenon? Lastly, what is the prevailing level of Shari’a compliance in IFIs in the present scenario? The study explores these questions using Grounded Theory (GT) as a methodological framework. The choice of GT for this research was triggered by two factors; i) non-availability of sufficient literature in this area and ii) the entwinement of the related hidden phenomena with deep social intricacies. Data, which was steered by theoretical sampling, consists mainly of in-depth interviews with a number of key stakeholders from three significant cases and a regulatory body. The findings reveal that Shari’a compliance is a complex process and is determined by a combination of religious, social, ideological, structural, regulatory and self-interest forces. Though Shari’a scholars can apparently be seen as the supreme authority in defining, dictating and implementing Shari’a compliance, the practical phenomenon is opaque because of the managers’ substantial ‘invisible hand’ in the whole process. While many Shari’a scholars employ considerable efforts in making their respective institutions genuinely Shari’a-compliant, managers, on the other hand, try to tap the market with the tag of Shari’a certification obtained from Shari’a scholars. This involves the exercise of a number of strategies e.g. avoidance, controlling, coercion, compromising, confrontation and separation on the part of the two parties.As a result, the study illustrates that Shari’a compliance is not an absolute term. Rather it is constantly being positioned and repositioned- termed as fatwa repositioning in this study- by the combination and intensity of the above-mentioned forces and strategies. It varies from ‘superficial’ to ‘reasonable’ levels on a continuum with two extremes; ‘deep’ and ‘no’ Shari’a compliance. The research has three main implications: theoretical, methodological and practical. On the theoretical side, the research contributes to the Islamic finance literature in particular and organizational control literature in general. The study claims that organizational control is much more complex in IFIs because of the struggle for achieving divergent objectives (pursued by different authorities) through the same institution. There is a latent struggle between the two parties to control each other. Interestingly, Shari’a scholars are generally not in control of what they are supposed to be controlling i.e. Shari’a compliance. On the methodological front, the study suggests some new analytical techniques e.g. a snapshot view of the coding framework and a combination of manual and computer-assisted analysis. From a practical standpoint, the study suggests that Islamic banking is currently in a critical stage. It can either become a viable alternative to the conventional banking system by genuinely incorporating Shari’a objectives into its business model or pave its way to collapse by its existing struggle to achieve business objectives through Shari’a certification from Shari’a scholars
Socially responsible investment: insights from Shari’a departments in Islamic financial institutions
Full text linkIslamic Financial Institutions (IFIs) are emerging as prominent players in the financial world and are increasingly known for their conservative socially responsible investment (SRI). Being the Shari’a regulators and monitors of IFIs, the Shari’a departments are expected to implement the Islamic perspective of SRI-drawn from Shari’a principles- in their respective institutions. The purpose of this paper is to develop an SRI framework applicable to IFIs and other Shari’a compliant entities and assess its applicability within Shari’a departments of two Islamic banks. This paper involves cross-case analysis based on interviews with Shari’a department officials in two settings differentiated by their respective independence. The proposed framework consists of required, expected and desired SRI aspects as applicable to IFIs. The findings reveal that the required aspects are uniformly observed by the two cases. There are though variations when it comes to observing the expected and desired ethical SRI aspects which may be driven by the independence of the Shari’a Boards. This inconsistency and non-adherence of expected and desired aspects may lead to reputational risks in the long run
Shakir Ahmed Pasha's Mesnawi called Tertib-i Nefis
No full textShakir Ahmad Pasha who lived in the XVIII. century is a poet. He is also a successful statesman. Beside this, accorfing to our knowledge he has written two books. Both of them are masnavi, namely: Ravz i Ward and Tartib i Nafis. Ravz i Ward deals with the most beautiful names of Allah Almighty and The Battle Of Badr. Tartib i Nafis is about the Holy Quran. In this work, the author examines that the Quranic chapters consist of how many verses and he explains that on which verses scholars have disagreed. Shakir Ahmad completed this work in 1797
'Fatwa repositioning': the hidden struggle for Shari'a compliance within Islamic Financial Institutions
Full text linkIslamic Financial Institutions (IFIs) have recently witnessed remarkable growth driven by their holistic business model. The key differentiator of IFIs is their Shari’a-based business proposition which often requires some financial sacrifices, e.g. being ethical, responsible and philanthropic. It also requires them to refrain from investments in tobacco, alcohol, pornography or earning interest. For IFIs’ sponsors and managers, however, the key motivational factor for entering the Islamic financial market is not the achievement of Shari’a objectives through the holistic business model, but rather the urge to tap this highly profitable market where customers are inclined to pay a premium for Shari’a compliance. In order for IFIs to be accepted by the market, their financial instruments need to be approved by Shari’a scholars, known for their integrity and expertise in Shari’a. One can therefore expect potential tensions between IFIs’ managers and Shari’a scholars. The purpose of this research is to probe the hidden struggle between managers and Shari’a scholars in pursuit of their respective objectives. The study investigates this phenomenon using grounded theory as a methodological framework based on data collected from three IFIs from two countries. The findings reveal that Shari’a scholars and managers of IFIs have divergent objectives, which creates incongruence of objectives at the strategic level. The findings illustrate the tension and latent struggle for Shari’a compliance, which has been termed as ‘Fatwa Repositioning’ resulting in four possible consequences: deep, reasonable, minimum and superficial Shari’a compliance. Fatwa Repositioning is the core category of this study, which exhibits how managers and Shari’a scholars struggle to position the Shari’a compliance of their institutions so as to best serve their respective objectives. Interestingly, Shari’a scholars are seemingly not always in control of what they are supposed to be controlling, i.e. Shari’a compliance.</p
Optical-Interference Mitigation in Visible Light Communication for Intelligent Transport Systems Applications
Full text linkIntelligent Transport Systems (ITS) are anticipated to be one of the key technologies for the next decade and their deployment can benefit from the recent developments in the domain of Visible Light Communication (VLC). Light Emitting Diode (LED)-based low-cost VLC is considered in this work to provide a practical approach towards the implementation of an ITS by addressing the major issues of channel noise, free-space optical multipath reflections and interference from light sources. An analytical model is presented for the proposed Multiple-Input–Single-Output (MISO)-based VLC, and simulations are performed to analyze the performance of the system for various transmission distances. Results show that the proposed optimal receiver for 4 × 1 MISO can provide considerable improvement in the bit error rate for the forward error correction (FEC) threshold of 3.8 × 10−3 in the presence of optical interference, and is suitable to support an ITS with an inter-vehicle transmission approach. The comparison of achieved performance with existing solutions for VLC-based ITS depicts that the proposed framework provides much higher data rates, three times longer transmission distance and improved receiver sensitivity
The Grace of the Eye in Combining the Two Prayers of the Scholar Hamid Bin Hassan Shakir Al-Yamani
Full text linkThis essay deals with Al jama byna AL - Salation (Combining) two prayers) a manuscript of small size written by Imam Hamid bin Hasan shakir AL - Yamani who died in the year 1173 after Hijra. The essay is divided into two parts. The first has included the biography of the author, and the second contains the text and commentary thereon. The researcher has concluded that the author supports the view of combining two prayers whether there is a valid reason or not. He supported his view with appropriate evidence and discussion of various standpoints in an attempt to reach the most probable opinion on this matter
Institutional autonomy and academic freedom in the Afghan public higher education institutes : from 2002 to 2012
No full text論文application/pd
Intention to Use Cryptocurrencies for Business Transactions: The Case of North Carolina
No full textFinancial technologies and payment applications have revolutionized money flow recently, with cryptocurrencies offering decentralization, though still limited in transactional use. This study investigates the factors influencing the use of cryptocurrencies for business transactions in North Carolina (NC). This exploratory research utilizes an extended technology acceptance model (TAM) using survey data collected from 228 North Carolina residents and applying Partial Least Squares Structural Equation Modeling (PLS-SEM) to find the relationship between the independent and dependent variables. Our results indicate that perceived usefulness, social influence, and personal innovativeness significantly impact users’ intentions to adopt cryptocurrencies as a medium of exchange. A surprising finding is that ownership has a negative effect on the intention to use cryptos for business transactions. The findings imply that regulators and cryptocurrency issuers should make the system more useful, take full advantage of social media to promote cryptos, and encourage crypto holders to use cryptos for their intended utility rather than just as speculative instruments. © 2025 Elsevier B.V., All rights reserved
Analysis of User preference, usage pattern and safety concerns of Electric micromobility
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