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The purpose of this paper is to identify the conditions of the wajibah (obligatory) will under compilation of Islamic law (KHI) and the application and rationale of wajibah wills in religious justice. The wajibah will is a form of judicial wealth transition that can deliver an inheritance to an heir who is not otherwise eligible for it. It is implemented in some Islamic countries, including Indonesia, based on the KHI.

This is a descriptive qualitative study that uses documentation as a data-collection method. This study applies the content-analysis method to the data collected.

The results of study indicate that, under KHI, a wajibah will only be given to adopted children. Nevertheless, in the practice of religious justice, the wajibah will is also granted to heirs of faiths other than Islam and to illegitimate children. The rationale for the wajibah will involves historical factors and public considerations.

This paper provides information on the practice of the wajibah will in Indonesia in view of the plurality of the Indonesian people. Thus, the wajibah will is an appropriate instrument to attain justness in the well-being of the community. This paper also attempts to give a critical review of the practice based on five necessities.

This research aims to examine and compare differences in waṣiyyah wājibah (obligatory bequest) (WW) practices in Malaysia and Indonesia.

This is an exploratory qualitative research, employing a thematic analysis approach. Six Muslim Wills (State) Enactments [Enakmen Wasiat Orang Islam (Negeri)] in Malaysia, Islamic Law Compilation (Kompilasi Hukum Islam) in Indonesia, two fatwas (ruling in religious matters) and one court case from each country are analysed. Data is collected from official government websites and other reliable search engines.

First, the findings show that the WW practice in both countries is similar regarding the quantum of the beneficiaries' entitlement. However, the practice varies between both countries in terms of the types of beneficiaries and how the bequest is distributed. Second, this study shows the potential of WW as an estate planning instrument to complement the existing instruments in each country, especially when addressing family members who are not entitled to succeed by farāʾiḍ (Islamic inheritance law).

The provision of relevant laws and regulations regarding WW needs to be formulated to guarantee the well-being of dependants. The differences in practice between the two countries can be a guideline to expand the WW scope and context to other Muslim countries.

This study is the first attempt to compare WW between two Muslim-majority countries focusing on relevant laws, court cases and regulations.

The purpose of this paper is to outline the principles of and legal risk faced by Islamic banking and suggest necessary steps to mitigate them.

The paper examines ideal concept of Islamic banking and its practice. A range of publication is used, however the bulk of it concerns existing practices to provide practical insight on the subject rather than theoretical discourse. The paper is sorted into sections: Introduction, Islamic banking system, existing practices, legal risk and proposed reform.

Islamic banks face risks stemming from legal structure chosen due to the differences between principles of Shariah and law. While compliance to Shariah is paramount for Islamic banks, the law governing Islamic banking transactions may not necessarily give any consideration to Shariah. The paper elaborates legal risk exposed to parties to Islamic banking transactions encompassing the issues of the capacity of the parties to enter into a contract and its enforceability, uncertainty in laws, regulations, and legal actions pertaining to Shariah; as well as the legality of Islamic financial instruments.

The paper reviews relevant laws and regulations related to Islamic banking, however no specific reference to any particular jurisdiction.

This paper is a source of information for those in the Islamic banking industry without legal background or lawyer new to it.

This paper touches upon a new area, the legal risk due to the divergence between the principle of Shariah and law. It offers practical insight into the legal aspect of Islamic banking operations.

What has emerged from the first three chapters has been the increasingly global environment within which organisations operate. This is particularly so in the Asia-Pacific region, which due to its continued urbanisation, is undergoing profound economic and social change. Despite stakeholder theory offering a new perspective on the traditional principal–agent relationship that had existed implicitly between both the manager and “shareholder” and the manager and “debtholder”, little has been done theoretically to explain and predict differences in “stakeholder” prominence across countries that embody different economic and social levels of development. As mentioned in Chapter 3, a Positive Stakeholder Theory approach, which seeks to understand stakeholder prominence through an AHP, is a means by which to enrich stakeholder theory beyond the confines of the prescriptive.

The purpose of this study is to analyze the impact of corporate social responsibility (CSR) disclosure on the financial performance of Islamic banks across nine countries as major markets that contribute to international Islamic bank assets (Indonesia, Malaysia, Saudi Arabia, UAE, Kuwait, Qatar, Turkey, Bahrain and Pakistan or further will be called QISMUT + 3 countries).

Islamic Social Reporting Disclosure Index (ISRDI) is being used as a benchmark for Islamic bank CSR performance that contains a compilation of CSR standard items specified by the Accounting and Auditing Organization for Islamic Financial Institutions. The secondary data is collected from the respective bank’s annual reports and it used the regression analysis techniques for statistical testing.

This study found that CSR disclosure measured by ISRDI has a positive effect on financial performance. Almost all ISRDI sub-major categories have a positive effect on financial performance except the “environment” subcategory. The highest major subcategory for ISRDI is the “corporate governance” category (82%) and the “environment” category (13%) is the lowest. For the UAE, Kuwait and Turkey, the ISRDI is positively affected by financial performance and the other countries on this research are not.

This study highlighted the economic benefits of social responsibility practices as a part of business ethics in nine countries that uphold the value of religiosity. Thus, the development of the results of this research for subsequent research is very wide open.

The purpose of this study is to examine the legal paradigm of multiple Sharia' board directorship practice from the Sharia' law concept of Maslahah Al-Mursalah (public interest).

It uses a doctrinal research method that relies on the commonly referred sources of Quran and Sunnah, with a specific focus on Maslahah Al-Mursalah and, where applicable, commentaries by contemporary scholars, academics and practitioners as well as translations of classical book of Fiqh. This study scrutinises the polarity of views concerning the distinct Masyaqqah (necessity) surrounding the practice in discussion: the Masyaqqah that encourages and one that discourages the application of the practice.

This study is keen to suggest the industry to adopt a cautious approach and consider exploring a corporate governance framework that appraises the theoretical and practical Sharia' issues concerning its application in cognisance of its adversarial influence towards the sustainability of Islamic banking industry.

Since Murat Unal’s study of multiple Sharia' board directorships in 2009 and 2011, empirical works that scrutinise the practice from the Sharia' law perspective have remained limited or almost non-existent. It is aspired that this study may assist fellow readers and future researchers alike in evaluating and appreciating the divergent views surrounding the application of this practice in Islamic banking.

The purpose of this paper is to discuss Islamic laws which are relevant to finance. More specifically, it covers the types of contracts as foundation for the distinctive Islamic financial products. The current institutional framework of financial institutions seems to be incompatible with the nature of these Islamic contracts.

This is a conceptual paper describing the link between finance and economic growth in the present of Islamic contracts, which have various types from contract of partnership, buy‐sale contract, to contract of usufructs. The nature of Islamic contract is to avoid riba (i.e. interest system), because it is unjust and prohibited, meanwhile under conventional system they rely very much on the interest system.

The conclusion of the paper is that the distinctive character of Islamic contracts applied by Islamic banking and finance relies mostly on the profit and loss sharing mechanism which contains the cooperative spirit, in the contracts such as mudharabah (profit‐sharing), musharakah (partnership). The development of equity partnership instruments in the financial system necessitates a different set of regulation and institutions in order to achieve Islamic goal through economic/financial activities.

This paper opines that the current framework of financial institutions does not match with the nature of Islamic contracts.

This paper suggests that a new framework for financial institutions is necessary in order to accomplish the maqasid‐al‐shariah, by implementing the true spirit of cooperative through various Islamic contracts. Consequently, the rules and regulations and other relevant elements also need to adjust.

The paper indicates a possible different consequence on the link between finance and growth in the presence of Islamic contracts, i.e. a more positive relation.

The purpose of this paper is to develop understanding of the problems of classification, to discover the classification practices of libraries with rich collections on Islam cited in the literature, to find the gaps, and to determine the point from which to start work on further development.

Published and unpublished literature, both print and electronic, that is relevant to the problem was reviewed objectively in the compilation of this paper.

Standard classification systems lack proper space for materials on Islam for two reasons: less awareness on the part of devisers of the depth and variety of Islamic topics; and their bias and lack of interest in Islam. Different indigenous classification systems and expansions have been developed, using either the original notation or alternative notations. Some systems have been developed without following any standards or logic. This study has revealed a need for empirical study of libraries with rich collections on Islam in order to gain a better understanding of the problem and find an optimal solution.

No empirical field data are included in this study. This is a review of the literature.

The author indicates the current situation of the problem and a potential framework for its solution.

International relations are involved in an undesirable order at the present time. It is emphatically necessary to propound firm principles to regulate the relationships among states and nations, and new laws and regulations are to be enacted at the international level. The purpose of this paper is to enumerate some of the main guide stones for development of Islamic thoughts in the fields of international humanities.

The authors enumerate the principles of Sufi foundations of international relations in Islam by introducing the theosophical standpoints of Islamic Sufism.

The paper introduces 95 principles in three categories of public international law, foreign policy, and diplomacy.

As long as the essence of all religions has a unique root which is their spiritual paths and understandings based on their mystical views. To popularize and internationalize this proposition, comparative researches in other religions' Gnosticism will be essential.

Putting several principles forward, on the next phases, they can be used as the basis for many applied debates in the field and may be ended to a new international declaration/law.

Delicateness, truthfulness, and righteousness of Islamic Sufism, which is the gist of thoughts of humankind's elites who are divine messengers/guardians during millenaries, may turn the attentions of scholars and researchers to this viewpoint, and consequently a new set of thoughts/doctrines for regulating international relations to be defined and codified.

International relations scholars have not touched the topic from a Sufi point of view. This paper brings this approach to a new challenging arena for those who are engaged in international relations related subjects of laws, politics, institutions, and organizations.

The main objective of this paper is to analyze works of literature on SRI sukuk to highlight the potential for these kinds of instruments in financing more sustainable financial systems (SFSs). The analysis mainly accentuates a dearth of knowledge on the various challenges and opportunities in the realm of SRI.

This paper pioneers the bibliometric and systematic literature review of the development of the SRI sukuk from 2016 (the first available year in the field) to and 2021.

The study findings highlighted several pertinent SRI issues: the lack of standardization due to the different interpretations of Shariah and green, the lack of retail investors, which inevitably produce a lack of liquidity in the secondary market, thus limiting their growth, its funding allocation’ close resemblance to green financing, and the role of Malaysia and Indonesia as global sustainable financial hubs to stimulate the development of Shariah-compliant sustainable instruments and contribute to the international debate about the building of a global standardized framework related to sustainable investments.

The integration of the environmental principles of a green bond with the Shariah-compliant financial structure of a sukuk, the SRI sukuk, represents a vital crossroad in both sustainable and Islamic finance. Social-impact sukuk and green sukuk is an undervalued instrument that could play an important role in financing a more sustainable economic and financial system, including Islamic investing. This kind of instruments, which is based on a “pay for success” principle in the conventional layout, perfectly fit with the profit-and-lost sharing’s (PLS's) ethicality, the sustainability principles of Islamic finance and the religious principles of Islamic law.