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1 – 10 of 261
Open Access
Article
Publication date: 18 March 2020

Zaheer Anwer, Shabeer Khan and Muhammad Abu Bakar

The purpose of this study is to document how a central bank can perform its primary and secondary functions in a Sharīʿah-compliant manner. It also seeks to investigate the…

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Abstract

Purpose

The purpose of this study is to document how a central bank can perform its primary and secondary functions in a Sharīʿah-compliant manner. It also seeks to investigate the outcomes of the experiments of Muslim-majority countries in this regard.

Design/methodology/approach

As a first step, a detailed review of existing literature is conducted, which discusses the views of scholars and practitioners on the central banking mechanism in a fully Sharīʿah-compliant financial system. Moving further, the case studies of Iran, Sudan and Pakistan are presented to highlight experiences of regulators from three Muslim-majority countries, which aimed to achieve full compliance with Sharīʿah (Islamic law) principles related to Islamic finance. To evaluate their models, an assessment of their practices is performed in the light of Sharīʿah rules and principles based on existing literature. Finally, the issues involved in establishing a Sharīʿah-compliant central bank (SCCB) are discussed and improvements are suggested.

Findings

It is found that Iran played an effective role in pursuing broader objectives of monetary policy by setting priorities for credit allocation and assisting the government in reducing expenses; however, with respect to instruments, its experience is limited to the rebranding of conventional products. Sudan has not only used monetary policy to effectively curb inflation but also it has introduced various indirect instruments to perform monetary operations. Pakistan succeeded in formulating a theoretical roadmap to establish a SCCB but the desired objectives could not be achieved because of multiple factors.

Practical implications

This study has important policy implications for regulators and policymakers from Muslim countries, who can use the findings in shaping effective Sharīʿah-compliant central banking practices in their respective countries.

Originality/value

This study discusses the salient features of an important Islamic financial institution, the central bank and evaluates the experiments of three Muslim-majority countries in implementing Sharīʿah-compliant central banking practices. To the best of the knowledge, this evaluation has not been performed in the existing literature and the present study fills in this gap.

Details

ISRA International Journal of Islamic Finance, vol. 12 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 11 October 2022

Aishath Muneeza, Saeed Awadh Bin-Nashwan, Magda Ismail Abdel Moshin, Ismail Mohamed and Abdelrahman Al-Saadi

This paper aims to examine the existing practice of accepting zakat payments using cryptocurrencies and crypto assets by discussing its Shariah issues.

Abstract

Purpose

This paper aims to examine the existing practice of accepting zakat payments using cryptocurrencies and crypto assets by discussing its Shariah issues.

Design/methodology/approach

This is qualitative research in nature, as unstructured interviews with experts in the field were conducted to understand the existing practice regarding zakat on cryptocurrencies/crypto assets while literature on the topic was reviewed to derive conclusions.

Findings

It is found that there are divergent views among contemporary Shariah scholars on the Shariah permissibility of cryptocurrency and crypto assets. As such, by evaluating the existing practices of some companies, this study has concluded that there is room to pay zakat using cryptocurrencies and from investments made on crypto assets. As long as they have been screened and classified as Shariah-compliant, they can be qualified to be part of one’s wealth from which zakat shall be paid. However, the findings of this research shall be subject to the fatwa and rules adopted in the specific jurisdiction in which the zakat payer resides. Laws made by the ruler to benefit the public ought to be considered in upholding the masalih (public interests) of all, which is in line with the legal maxim of “tasarruf al imam manut bi al-maslahah” (the ruler’s decision is dictated in favor of the people).

Originality/value

It is anticipated that the findings of this research will benefit zakat organizations and zakat payers in understanding how they should deal with cryptocurrencies and crypto assets in the collection and payment of zakat.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 18 January 2016

Hamza Usman, Muhammad Hafiz Abu Bakar, Amir Syahir Hamzah and Abu bakar Salleh

This paper aims to estimate the level of histamine in fish and fish products, as it is very important because of their implication in fish poisoning in humans; hence, ascertaining…

Abstract

Purpose

This paper aims to estimate the level of histamine in fish and fish products, as it is very important because of their implication in fish poisoning in humans; hence, ascertaining histamine levels in the aforementioned serves as a chemical index for spoilage.

Design/methodology/approach

A technique was developed to immobilize an ordered multilayer of diamine oxidase (DAO) by means of chemical cross-linking on the biconical taper surface stepwisely alternating between chitosan, glutaraldehyde and the enzyme. A spectrophotometric signal results from horseradish peroxidase catalyzed reduction of H2O2, a secondary product of the oxidative deamination of histamine monitored at 450 nm.

Findings

The biosensor showed a linear response range up to 1.5 mM, a good sensitivity of 0.64 mM-1 with detection and quantification limits towards histamine of 0.086 mM (15.8 ppm) and 0.204 mM (37.7 ppm) and a linear response range of 0-1.5 mM. It showed a response and recovery time of 14 sec and operational stability up to 40 repeated analyses without significant loss of sensitivity.

Practical implications

The developed biosensor has a good potential for use in the quantitative determination of histamine in seafood.

Originality/value

The paper described an outcome of an experimental work on tapered fibre optics (taper)-based biosensor coated with DAO embedded into a chitosan membrane to measure histamine.

Details

Sensor Review, vol. 36 no. 1
Type: Research Article
ISSN: 0260-2288

Keywords

Book part
Publication date: 19 July 2023

Serhat Yüksel, Hasan Dinçer and Gülsüm Sena Uluer

With the increase in population, the energy needs of countries are also increasing. These countries have difficulties in meeting these increasing needs. Countries that cannot meet…

Abstract

With the increase in population, the energy needs of countries are also increasing. These countries have difficulties in meeting these increasing needs. Countries that cannot meet this need have to import energy from abroad. This situation adversely affects the current account balance of countries. Nuclear energy investments allow countries to obtain their own energy, although there are some criticisms. In this framework, while some countries in the world increase their nuclear energy investments, some countries do not have any nuclear power plants (NPP). There are 32 such countries where nuclear energy projects are running till date. Therefore, it is very important to determine the socio-economic variables of countries that have nuclear energy investments. In this context, a detailed literature analysis will be made first to determine socio-economic criteria. Then, the importance weights of these factors will be calculated using the Decision Making Trial and Evaluation Laboratory (DEMATEL) method. The profiles of the countries that make nuclear energy investments demonstrate that education level is the most essential socio-economic factor for the improvement of nuclear energy investments. Also, income inequality is another important variable in this regard. However, consumption behaviour and saving behaviour have the lowest weights.

Details

Inclusive Developments Through Socio-economic Indicators: New Theoretical and Empirical Insights
Type: Book
ISBN: 978-1-80455-554-5

Keywords

Open Access
Article
Publication date: 15 December 2021

Dewi Hj Samri and Haziq Aisha

Keberkesanan penyampaian sesuatu maklumat memerlukan individu, alat mahupun saluran yang unggul dan bersesuaian. Usaha ini haruslah dirancang dan dipertimbangkan dengan teliti…

Abstract

Keberkesanan penyampaian sesuatu maklumat memerlukan individu, alat mahupun saluran yang unggul dan bersesuaian. Usaha ini haruslah dirancang dan dipertimbangkan dengan teliti oleh pihak tertentu agar setiap apa yang ingin disampaikan dan dilaksanakan itu dapat diberigakan dengan mudah dan berkesan. Dari itu, penggunaan bahasa retorik dilihat sebagai batu loncatan yang memberikan keyakinan dan tahap keberkesanan yang tinggi bagi sesebuah wacana yang disampaikan tersebut. Kewibawaan retorik sebagai seni yang mempengaruhi bukan sahaja berperanan untuk memperkukuhkan kekuasaan mahupun mempengaruhi fikiran dan emosi orang lain namun sebaliknya mampu menstimulasikan keseimbangan hubungan sosial yang terbentuk melalui sistem pemerintahan sesebuah negara. Melalui penyelidikan ini, setiap ciri khas retorik dapat diketengahkan dengan menghuraikan peranan dan fungsi-fungsi yang dimainkan oleh jenis-jenis retorik dalam penulisan sesebuah wacana. Hal ini khusus bagi mengilustrasikan idea, gagasan mahupun suatu fakta terhadap sesuatu pendekatan dengan cara yang kreatif dan terbaik. Di samping itu, keutamaan bagi penerapan bahasa retorik dalam perutusan kerajaan seharusnya dapat diperkasakan sewajarnya dengan menjadikannya sebagai anjakan paradigma ke arah perpaduan dan nilai kesaksamaan dalam masyarakat. Justeru, kajian ini memanfaatkan Teori Retorik Moden oleh Enos dan Brown (1993) sebagai landasan utama dalam menganalisis sejumlah 20 perutusan rasmi berkaitan jangkitan covid-19 di Negara Brunei Darussalam. Berdasarkan pemerhatian dan penganalisisan yang dijalankan, hanya empat jenis retorik yang diaplikasikan dalam wacana tersebut. Kesimpulan statistik merangkumi 34% teknik pendedahan, 30% teknik penerangan, 33% teknik pemujukan dan hanya 3% bagi teknik penghujahan. Dapatan penyelidikan ini membuktikan bahawa penggunaan bahasa retorik dalam perutusan rasmi kerajaan adalah amat penting dalam memperkukuhkan sistem pemerintahan negara serta mampu melestarikan cara hidup yang relevan dan berkualiti.

The effectiveness of delivering information requiresindividuals, tools or channels that are superior and appropriate. This effort must be planned and considered carefully so that everything that is to be conveyed and implemented can be conveyed easily and effectively. Therefore, the use of rhetorical language is regarded as a stepping stone that provides confidence and a higher level of effectiveness. `Rhetoric as an influential art not only plays a role in strengthening power or influencing the thoughts and emotions of others but also stimulate sthe balance of social relations. Through this research, each rhetorical feature is highlighted to discuss its role and functions in the discourse. Using Enos and Brown’s Modern Rhetorical Theory (1993), a total of 20 official conferences on the latest developments of the spread of covid-19 infection were discussed. Findings have shown that there were four main types of rhetoric, i.e. Statistical conclusions which include 34% of expository techniques, 30% of descriptive, 33% of persuasion and only 3% for argumentation techniques. This also implies that rhetoric language is very important in ensuring the dissemination of knowledge among the institution and people is effective and and transparent.

Details

Southeast Asia: A Multidisciplinary Journal, vol. 21 no. 2
Type: Research Article
ISSN: 1819-5091

Keywords

Open Access
Article
Publication date: 25 June 2020

Beebee Salma Sairally

535

Abstract

Details

ISRA International Journal of Islamic Finance, vol. 12 no. 1
Type: Research Article
ISSN: 0128-1976

Expert briefing
Publication date: 16 April 2018

Crypto market dynamics.

Details

DOI: 10.1108/OXAN-DB232127

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 31 October 2023

Asif Zaman, Issam Tlemsani, Robin Matthews and Mohamed Ashmel Mohamed Hashim

The rapid rise of Islamic crypto assets, underpinned by blockchain technology, has introduced a novel dimension to the Islamic financial landscape, raising questions about their…

Abstract

Purpose

The rapid rise of Islamic crypto assets, underpinned by blockchain technology, has introduced a novel dimension to the Islamic financial landscape, raising questions about their potential as safe havens within emerging Islamic economies. However, the opportunities and challenges associated with this phenomenon remain insufficiently explored. In this context, this study aims to empirically investigate the extent to which blockchain technology can establish Islamic crypto assets as safe havens in equity markets within Islamic economies.

Design/methodology/approach

This study addresses the need for rigorous empirical analysis to understand the dynamics between Islamic crypto assets and stock markets in emerging Islamic economies, focusing on the transmission of volatility. While the evolving nature of the Islamic financial sector demands reliable data, the reliance on the most available data offers insights into the expected future trends in this emerging field. The research specifically focuses on three essential assets in the Islamic financial portfolio: OneGram Coin and X8XToken, both backed by gold and MRHB DeFi, an Islamic DeFi asset lacking gold backing. These crypto assets are compared with corresponding assets in seven stock markets of emerging Islamic economies. Using daily log returns of the Islamic crypto assets from various sources and seven Islamic stock indices. The data covers the period from December 27, 2021, to December 28, 2022, capturing the fluctuations in Islamic stocks and cryptocurrency markets during the post-COVID-19 era. This research uses advanced econometric techniques, including pairwise dynamic correlation and the DCC GARCH model.

Findings

The findings indicate that Islamic crypto assets exhibit distinct characteristics, with lower volatility and low correlations compared to their conventional counterparts in non-Islamic contexts. This outcome suggests that these Islamic crypto assets could potentially serve as safe havens within Islamic stock markets, offering valuable insights for various stakeholders, including investors, governments and policymakers.

Research limitations/implications

The findings are based on a specific set of Islamic crypto assets and may vary with a different selection. Market dynamics can also influence the relationships observed. Nevertheless, the outcomes provide valuable insights for investors, policymakers and researchers interested in the intersection of Islamic finance, cryptocurrency and technology.

Originality/value

In essence, this research not only unveils the potential of Islamic crypto assets as stabilizing forces but also delineates a trajectory for subsequent research endeavours within the realm of emerging Islamic Fintech, elucidating the challenges, opportunities and benefits that lie therein. With a discerning eye on circumventing the pitfalls entrenched within conventional crypto finance, this study contributes to a heightened comprehension of the transformative role that Islamic crypto assets can assume, ultimately enriching the financial resilience of Islamic economies.

Details

Competitiveness Review: An International Business Journal , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 12 June 2018

Hasliza Hassan, Abu Bakar Sade and Muhammad Sabbir Rahman

The Malaysian lifestyle has been undergoing changes over time. With better socio-economic conditions, Malaysians tend to consume more food today than they did previously…

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Abstract

Purpose

The Malaysian lifestyle has been undergoing changes over time. With better socio-economic conditions, Malaysians tend to consume more food today than they did previously. Excessive intakes of high calorie foods combined with little daily physical activity have led to increased numbers of overweight and obese people in the population. The purpose of this paper is to compare the incidence of overweight and obesity in the population in Malaysia with other Southeast Asian countries.

Design/methodology/approach

Data for this research were based on secondary data of average weight, overweight and obese people for populations in the Southeast Asian countries. The analysis for this research focused on the population in Malaysia and compared it with populations from neighboring countries.

Findings

The population in Malaysia was ranked the second highest in the number of overweight and obese people in the Southeast Asian region. In addition, the rate of increase overweight and obese people in the population of Malaysia was found to be the highest in the region. Since the percentage of overweight and obese people had increased consistently from 2010 to 2014, there was a high possibility that the momentum would continue into the following few years.

Originality/value

Being overweight and obese was not desirable by the majority of people as it could lead to various health diseases and psychological problems. Unfortunately, the percentage of overweight and obese people in Malaysia seems to be increasing. Improved socio-economic conditions have increased the amount of food normally consumed by people. Although many people were found to be aware of the negative impact of being overweight and obese, the majority of them did not seem to take the initiative to reduce their body weight. This research is expected to create awareness of the alarming rate of increase in the number of overweight and obese people in Malaysia in order to encourage a healthier lifestyle.

Details

International Journal of Human Rights in Healthcare, vol. 11 no. 3
Type: Research Article
ISSN: 2056-4902

Keywords

Article
Publication date: 3 May 2019

Hasliza Hassan, Abu Bakar Sade and Muhammad Sabbir Rahman

Slimming centres have become a hot spot for people to reduce their size and reshape their body figure through the sophisticated and modern treatments that are provided by the…

Abstract

Purpose

Slimming centres have become a hot spot for people to reduce their size and reshape their body figure through the sophisticated and modern treatments that are provided by the therapists. The purpose of this paper is to examine the influence of price, place and promotion on the behavioural intention to consume the slimming treatments.

Design/methodology/approach

This research is a cross-sectional study in which 308 primary data were collected for descriptive analysis, confirmatory factor analysis and structural equation modelling. The data were collected through a survey questionnaire that was distributed to respondents who have experience in consuming slimming treatment at a slimming centre.

Findings

The majority of slimming centre consumers are working women aged 25 and above from urban areas. As an attraction, the pricing strategy is a very important influence on consumers to consume the slimming treatment at slimming centres. Although the main target market for slimming centres is career women who are earning an above average income, an excessively high price might weaken the behavioural intention of the consumer to consume the service since Malaysian women are very price conscious. The findings also indicate that there is a significant correlation relationship between price and promotion as well as place and promotion.

Originality/value

This research is expected to contribute in terms of providing more knowledge about this industry, since there are still limited findings pertaining to slimming centres, especially in the Malaysian market.

Details

International Journal of Human Rights in Healthcare, vol. 12 no. 3
Type: Research Article
ISSN: 2056-4902

Keywords

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