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Article
Publication date: 30 August 2011

Mohd. Fuad, Sawari, Razi Hassan and Faruk Abdullah

Considering the popularity of the premium savings certificate (PSC) of the National Savings Bank of Malaysia (Bank Simpanan Nasional (BSN)) the paper aims to justify the…

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Abstract

Purpose

Considering the popularity of the premium savings certificate (PSC) of the National Savings Bank of Malaysia (Bank Simpanan Nasional (BSN)) the paper aims to justify the Shari'ah compliancy of this product by analyzing its underlying contracts and to propose a Shari'ah compliant savings certificate, if the current practice is invalid in the Shari'ah.

Design/methodology/approach

Inductive methodology is first used to obtain a basic understanding of this product and the characteristics of Shari'ah approved contracts as well as the views of the jurists. Interviewing method is also used to acquire first‐hand information when the inductive method is not sufficient. Afterwards, an analytical approach is adopted to justify the validity of this contract with the Shari'ah principles. Finally, an innovative methodology is used to propose a Shari'ah compliant savings certificate.

Findings

The paper argues that the underlying contract used in PSC violates the conditions of wadi'ah contract, as in wadi'ah, the bank is not allowed to spend the money for investment, but in practice, BSN uses the money for investment. Therefore, the underlying contract in PSC turns into qard (loan) contract. Since the scholars unanimously declare that giving any kind of benefit like prizes to the creditor is riba, then PSC is considered as invalid according to the Shari'ah. On the other hand, although PSC might seem like gambling, it is different from gambling as the prizes given to PSC are from a third party. The paper proposes implementing mudarabah contract in PSC where the bank is allowed to invest according to its interest and the depositors share the profit and loss but the huge fluctuation of profit and loss could be shrunk by a special fund method.

Originality/value

In particular, it attracts the attention of BSN management to change their product's features. In general, it discovers a non‐Shari'ah compliant feature of savings certificates and outlines the feature of a Shari'ah compliant saving certificate for the practitioners of Islamic banking all over the world.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 4 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 30 August 2011

M. Kabir Hassan

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International Journal of Islamic and Middle Eastern Finance and Management, vol. 4 no. 3
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 27 May 2019

Zakiul Fuady Muhammad Daud and Raihanah Azahari

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

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

Keywords

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Article
Publication date: 26 September 2019

Bidhan Mukherjee, Bibhas Chandra and Saumya Singh

In response to scholarly calls, this study aims to explore the persuasive predictors including (job security, autonomy, work-life balance, culture and climate, career…

Abstract

Purpose

In response to scholarly calls, this study aims to explore the persuasive predictors including (job security, autonomy, work-life balance, culture and climate, career growth, leadership style and support, training and development and reward, recognition and pay) of talent retention in Indian PSUs by emphasising the commonalities and differences between different category of employees from different cohorts based on their contribution in the prime function of the business.

Design/methodology/approach

A self-administered questionnaire was used to collect data from 472 employees from selected organisations through Multistage sampling technique and Simple random sampling technique. Data were analysed using tests such as logistic regression, MANOVA, post hoc Tukey in SPSS 20.

Findings

Job security, autonomy, career growth and culture and climate are the persuasive predictors of talent retention in Indian PSUs. However, there is a significant interaction effect of age and job standard on job security. Job security and perceived employability do not relate to age for core category employees rather possess identical perception than other employee category. Findings indicate that identifying the position to be retained is more viable than a common retention strategy.

Originality/value

This study contributes to the existing knowledge of talent retention by exploring novel insights in comprehending the commonalities and differences of different employee category at all level from different cohorts, sharing different responsibilities in the prime function of the business that has largely been ignored. The study can succour in improving performance and cost-effective retention strategy.

Details

Kybernetes, vol. 49 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 28 July 2020

Mohammad Hoseini Moghadam, Abtin Heidarzadeh, Hassan Bashiri, Hossein Khoshrang and Ideh Dadgaran

The purpose of this paper is to answer the question of how scientific excellency can be achieved. The origin of scientific excellency in Iran, national and international…

Abstract

Purpose

The purpose of this paper is to answer the question of how scientific excellency can be achieved. The origin of scientific excellency in Iran, national and international experiences concerning the subject has been investigated to review the literature. The authors also designed a process and then a model to test the course. Guilan University of Medical Sciences was selected as a case study for the research.

Design/methodology/approach

The approach used in this paper is from Future Studies, with emphasis on the “Participatory Learning and Action” method. It means that different stakeholders, including the strategic council members, managers, faculty members, students, alumni and non-academic staff, have been involved in different parts of the process.

Findings

After semantic analysis of scientific excellency in the theoretical field; the examination of national and international experiences in universities; the analysis of higher-level documents of the Ministry of Health and Medical Education as well as strategic documents of the university; the determination of the strengths and weaknesses of the Guilan University of Medical Sciences in online survey; the completion of the scientific excellency canvas in the expert panel and finally obtaining other stakeholders, a conceptual model was designed for achieving scientific excellency.

Practical implications

The study of the actions, policies and trends of pioneering universities indicates that it is important to consider issues such as the internationalization of education and research and the modification of university structures. To achieve a superior national and international status, the university must specifically enhance a range of different aspects, from intangible aspects, such as motivation of employees to tangible aspects, such as human resources, structure and facilities.

Originality/value

Scientific excellency is going to be one of main streams between universities to attract top students and researchers from all over the world. There has been little academic attempt on scientific excellency. In this research, first the authors examined the concept of scientific excellency, criteria and measurement in higher education, then based on that case study and participatory action learning method, a conceptual framework to achieve scientific excellency in Iran’s higher education system was proposed.

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Principles and Fundamentals of Islamic Management
Type: Book
ISBN: 978-1-78769-674-7

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Article
Publication date: 5 October 2021

Mohammed Salih Hassan, Haideer Taleb Shomran, Abbas Allawi Abbas, Bashar Dheyaa Hussein Al-Kasob, Manar Hamid Jasim and Mehdi Ranjbar

The purpose of this paper is to investigate the effect of graphene platelets (GPLs) on the low-speed contact between a mass and surface of a multi-layer polymer beam.

Abstract

Purpose

The purpose of this paper is to investigate the effect of graphene platelets (GPLs) on the low-speed contact between a mass and surface of a multi-layer polymer beam.

Design/methodology/approach

This problem is primarily organized by first-order shear deformation beam theory and nonlinear Hertz rule. GPLs are distributed along the beam thickness direction. The Halpin–Tsai micromechanics model is applied for computing the effective Young’s modulus of the GPLs/polymer composites. In the formulation process, the principle of conservation of energy is first used and the histories of results are extracted using the separation of variables and Runge–Kutta method.

Findings

In comparing the responses with the available data, a good agreement is observed. The effects of the weight fraction and distribution pattern on the impact response of polymer beam reinforced with GPLs are studied. Results show that contact force is increased, contact time and beam recess are decreased with increasing of weight fraction of GPLs. Also, among the different distribution patterns, the contact force depended on value of GPLs at the point of contact.

Originality/value

The effects of GPLs addition on the multi-layer polymer beam has a novelty in impact problems.

Details

Pigment & Resin Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0369-9420

Keywords

Content available
Article
Publication date: 28 July 2020

Vahid Shahabi, Adel Azar, Farshad Faezy Razi and Mir Feyz Fallah Shams

COVID-19 has become a global challenge with a significant rate of prevalence, and it has exerted devastating consequences in epidemic, economic and social terms…

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Abstract

Purpose

COVID-19 has become a global challenge with a significant rate of prevalence, and it has exerted devastating consequences in epidemic, economic and social terms. Therefore, a number of studies have already been, or are now being, conducted on the detrimental effects of the virus. In this respect, a question may arise: Is there any possibility to turn the threat of the virus outbreak into an opportunity in some sectors such as the banking industry? In this research, the effects of COVID-19 outbreak as an intervening element on the acceptance of branchless banking were studied.

Design/methodology/approach

In this research, the factors affecting the acceptance and development of branchless banking in Iran at the time of COVID-19 outbreak were identified by systematically studying the theoretical framework, conducting further research and interviewing the experts; then, a causal loop diagram of the problem in the proposed case study and the flow rate model were presented.

Findings

The simulation results showed that banking transactions and a bank's financial resources would increase by implementing the package policy of reducing the number of branches, promoting incentive policies and increasing the budget rate of the bank in Information Technology (IT). Further, by promoting customers' acceptance of new technologies, the spread of COVID-19 can be viewed as a positive factor, or even a catalyst, in the acceptance and development of branchless banking in Iran.

Originality/value

Based on the proposed model, the difficulties faced by individuals during the spread of COVID-19 could act as justifiable incentives to boost appropriate organizational preparations for making changes to the classic working processes. Processes such as telecommuting, job rotation and so on are among these changes.

Details

Review of Behavioral Finance, vol. 13 no. 1
Type: Research Article
ISSN: 1940-5979

Keywords

Content available
Book part
Publication date: 10 December 2018

Seyed Mohammad Moghimi

Abstract

Details

Principles and Fundamentals of Islamic Management
Type: Book
ISBN: 978-1-78769-674-7

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Article
Publication date: 1 March 2004

Mohamad Abdalla

Islamic science was originally viewed as mere translator and transmitter of Greek, Indian and pre‐Islamic Persian science. Recent research has shifted our understanding of…

Abstract

Islamic science was originally viewed as mere translator and transmitter of Greek, Indian and pre‐Islamic Persian science. Recent research has shifted our understanding of Islam's contribution to what is now called “the exact sciences.” We now know that Islamic science “was even richer and more profound than we had previously thought.” A substantial amount of genuine science was done in Islam, it predated similar discoveries in the West, and it also impacted upon the Renaissance. For example, in the late 1950apos;s, E. S. Kennedy and his students at the American University of Beirut discovered an important work of a fourteenth century Muslim astronomer by the name of Ibn al‐Shatir. This discovery showed that Ibn al‐Shatir's astronomical inventions were the same type of mechanism used by Copernicus a few centuries later,” and may have played a key role in the Copernican revolution. Consequently, an unprecedented acceleration of research into Islamic science started from the 1950s onwards. Recently, historian of Islamic science George Saliba was able to show that one of Copernicus's Muslim contemporaries — Kliafri — was a “brilliant astronomer, whose ability to work with the mathematics of his time is unsurpassed, including that of Copernicus,” and that he could use mathematics much more fluently, and much more competently, than Copernicus could do.

Details

Humanomics, vol. 20 no. 3
Type: Research Article
ISSN: 0828-8666

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