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Open Access
Article
Publication date: 4 January 2021

Sherin Kunhibava, Zakariya Mustapha, Aishath Muneeza, Auwal Adam Sa'ad and Mohammad Ershadul Karim

This paper aims to explore issues arising from ṣukūk (Islamic bonds) on blockchain, including Sharīʾah (Islamic law) and legal matters.

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Abstract

Purpose

This paper aims to explore issues arising from ṣukūk (Islamic bonds) on blockchain, including Sharīʾah (Islamic law) and legal matters.

Design/methodology/approach

A qualitative methodology is used in conducting this research where relevant literature on ṣukūk was reviewed. Through a doctrinal approach, the paper presents analyses on the practice of ṣukūk and ṣukūk on blockchain by discussing its legal, Sharīʾah and regulatory issues. This culminates in a conceptual analysis of blockchain ṣukūk and its peculiar challenges.

Findings

This paper reveals that digitizing ṣukūk issuance through blockchain remedies certain inefficiencies associated with ṣukūk transactions. Indeed, structuring ṣukūk on a blockchain platform can increase transparency of underlying ṣukūk assets and cash flows in addition to reducing costs and the number of intermediaries in ṣukūk transactions. The paper likewise brings to light legal, regulatory, Sharīʾah and cyber risks associated with ṣukūk on blockchain that confront investors, practitioners and regulators. This calls for deeper collaboration in research among Sharīʾah scholars, lawyers, regulators and information technology experts.

Research limitations/implications

As a pioneering subject, the paper notes the prospects of blockchain ṣukūk and the current dearth of literature on it. The paper would assist relevant Islamic capital market entities and authorities to determine the potential and impact of blockchain ṣukūk in their respective businesses and the financial system.

Practical implications

Blockchain ṣukūk will assist in addressing issues inherent in classical ṣukūk and in paving the way to innovative solutions that will facilitate and enhance the quality of ṣukūk transactions. For that, ṣukūk would require appropriate regulatory technology to address its governance and regulation peculiarities.

Originality/value

Integrating ṣukūk with blockchain technology will add value to it. The paper advances the idea that blockchain ṣukūk revolutionises ṣukūk and enhances its practice against known inadequacies.

Details

ISRA International Journal of Islamic Finance, vol. 13 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

Open Access
Article
Publication date: 20 May 2022

Edson Sadao Iizuka, Gustavo Hermínio Salati Marcondes de Moraes and Melissa Galdino de Souza

There is no consensus on the most effective way to foster entrepreneurship in educational institutions, and educational policies on entrepreneurial activity differ significantly…

1143

Abstract

Purpose

There is no consensus on the most effective way to foster entrepreneurship in educational institutions, and educational policies on entrepreneurial activity differ significantly amidst organizations and contexts. Thus, the objective of this research is to analyze influence of the college environment and entrepreneurial characteristics on the entrepreneurial intention of Brazilian high school/technical students.

Design/methodology/approach

The empirical research used partial least squares structural equation modeling (PLS-SEM) and a sample of 384 students of technical courses, such as Administration, Systems Development, Chemistry, Secretariat, among others.

Findings

The proposed model was validated, and the hypotheses were confirmed, proving suitable for high school/technical education. Assessing the high school environment with this model can help determine each organization's strengths and weaknesses and, indeed, the impacts on the ecosystems in which it operates. The results of the multi-group analysis indicate differences concerning the courses as well.

Research limitations/implications

The main limitations involve non-probabilistic sampling procedures and the collection having been carried out with a single cross-section.

Practical implications

For managers and teachers, this article presents indicators to qualify the activities of the educational environment, considering teaching activities, extracurricular activities, fairs, actions of teachers and students, among other initiatives.

Social implications

The article contributes to high school managers, particularly in technical schools, so that they understand the factors that influence the profile and entrepreneurial intention of students; in other words, something that can impact the lives of thousands of students, teachers and the community itself.

Originality/value

This research presents a novel analysis of the antecedents that drive student entrepreneurship in an underexplored educational context in a developing country. The results show the necessary conditions for technical schools to foster entrepreneurial activity, feeding innovation ecosystems with entrepreneurial talent.

Access

Only Open Access

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