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1 – 10 of 66Shari R. Veil and Rebekah A. Husted
This study aims to use the now‐classic case study of American Red Cross's response to Hurricane Katrina to demonstrate the utility of the best practices in risk and crisis…
Abstract
Purpose
This study aims to use the now‐classic case study of American Red Cross's response to Hurricane Katrina to demonstrate the utility of the best practices in risk and crisis communication as an assessment tool.
Design/methodology/approach
Qualitative case study methodology is used to provide a thick description of the case based on media analysis and internal and external evaluations. The best practices in risk and crisis communication are then used to assess Red Cross's response efforts.
Findings
This study provides contextual support for the best practices in risk and crisis communication and demonstrates their usefulness in post‐crisis assessment. Lessons learned specific to the case outline the importance of: maintaining flexibility in the crisis plan; developing a crisis communication protocol with partners; considering the affects of response procedures on the emotional and psychological health of crisis victims; and establishing connections with diverse populations and the communities in which the organization works.
Practical implications
As an assessment tool in the post‐crisis stage, the best practices provide an outline for organizations to question whether their planning was sufficient and their strategies and responses met the needs of their stakeholders.
Originality/value
This study provides reason for continuing to develop, study, and apply best practices in risk and crisis communication across organizations and industries. By using the best practices as an assessment tool post‐crisis, organizations can look at each specific practice through the lens of the crisis to stimulate organizational learning.
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Abu Umar Faruq Ahmad, Aishath Muneeza, Mohammad Omar Farooq and Rashedul Hasan
Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari’ah requirements of transferring assets to Sukuk…
Abstract
Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari’ah requirements of transferring assets to Sukuk holders in asset-based Sukuk, the originator usually transfers the beneficial ownership to the issuer special purpose vehicles (SPV). However, in asset-backed Sukuk, the originator sells the underlying asset to an SPV and Sukuk holders do not have recourse to the originator in the event of defaults. Among some key unresolved Shari’ah issues in this regard is whether a change of contract necessitates entering a new contract. Other related issues that conflict with the tenets of Shari’ah are: (1) Sukuk structuring on tangible assets and debts; (2) receiving the full title by the Sukuk holders to the underlying assets in the event of default in case of securities that are publicized as asset backed; (3) Sukuk’s similarity with interest bearing conventional bonds: (a) capital guarantee by the originator or third party, (b) the originators’ promise to repurchase Sukuk at face value upon their redemption, and (c) providing internal and external credit enhancement. The Shari’ah-compliance of the above-mentioned clauses and structures of Sukuk remain debated among the Shari’ah scholars. Based on some specific cases, this study examines the Shari’ah viewpoint on sukuk restructuring and potential solutions to these unresolved Shari’ah issues in light of the past and recent declaration of some Sukuk defaults as non-Shari’ah complaints. Undoubtedly, resolution of these and other unresolved issues pertaining to Sukuk defaults can help strengthen the confidence of investors in Islamic capital market structures.
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Suheyib Eldersevi and Razali Haron
This study aims to examine the resolutions issued by the Sharīʿah Advisory Council of Bank Negara Malaysia (SAC-BNM), which have recognized maṣlaḥah (public interest) as the basis…
Abstract
Purpose
This study aims to examine the resolutions issued by the Sharīʿah Advisory Council of Bank Negara Malaysia (SAC-BNM), which have recognized maṣlaḥah (public interest) as the basis of ruling to see the extent of its usefulness to the public and the extent of its adherence to the maṣlaḥah parameters. The study will also look into the opposing opinion to identify the basis of rejection and overall implication on Islamic finance based on opposing opinions of SAC-BNM and other bodies of collective ijtihād (juristic interpretation).
Design/methodology/approach
The study uses a qualitative approach by analyzing the SAC-BNM resolutions, which have been resolved based on maṣlaḥah. The study also applies the comparative approach by comparing the fatwa (Sharīʿah pronouncement) issuing bodies of Malaysia and the Gulf Cooperation Council countries. Furthermore, the secondary data is obtained from sources such as uṣūl al-fiqh (theory of Islamic jurisprudence) books, papers and relevant internet sources.
Findings
The study found that SAC-BNM’s resolutions are in line with some of the major maṣlaḥah parameters mentioned in the uṣūl al-fiqh sources i.e. must not contradict with the Qurʾān and the Sunnah. While looking at the other two criteria of being in line with ijmāʿ (consensus) and having a general impact, such resolutions might not fulfill the criteria of valid maṣlaḥah considering, respectively, the stand of collective ijtihād or the impact on the group of customers and institutions.
Originality/value
Most available shari’ah (Islamic law) research considers the perspective of fiqh (Islamic jurisprudence) while analyzing the issue of maṣlaḥah. This study aims to conduct analysis based on uṣūl al-fiqh. Moreover, maṣlaḥah itself is a broad concept, which can be abused. Hence, this study discusses the parameters of maṣlaḥah to understand the validity of an important juristic tool in Sharīʿah.
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The concept of corporate governance is not new for institutions and organizations. The topic came into light after the financial crisis and frauds done by the companies. The topic…
Abstract
The concept of corporate governance is not new for institutions and organizations. The topic came into light after the financial crisis and frauds done by the companies. The topic of Islamic finance also gained momentum. Islamic Financial Services Board, Accounting and Auditing Organization of Islamic Financial Institutions, regulatory authorities of Islamic financial institutions and Islamic financial institutions themselves paid attention to the topic of corporate governance. Governance have critical place in Islam as human beings are answerable to Allah (swt) for acts, deeds, and fulfillment of responsibilities as vicegerent. This chapter focuses on the importance of corporate governance and differences between the corporate governance from conventional and Islamic point of view. How the topic of governance was discussed during the time of Holy Prophet (PBUH), different examples of the countries focusing on corporate governance are shared in this chapter.
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Anna Shnyrkova and Marina Predvoditeleva
The purpose of this study is to identify Halal hotel attributes demanded by the Russian Muslim travelers. Following this, the study aims to investigate whether gender and types of…
Abstract
Purpose
The purpose of this study is to identify Halal hotel attributes demanded by the Russian Muslim travelers. Following this, the study aims to investigate whether gender and types of travelers influence the demand for Halal hotel attributes.
Design/methodology/approach
Semi-structured interviews were conducted to localize the list of Halal hotel attributes for the Russian business context. A self-administrated online questionnaire was designed, distributed and collected from 191 Russian Muslim customers, who have stayed at Halal hotels in the past 12 months. Data analysis includes a t-test and analysis of variance.
Findings
The study revealed a list of Halal attributes demanded by Russian Muslim customers. Also, the findings indicate that the list of the attributes demonstrated the differences in the requested attributes between gender and types of travelers.
Research limitations/implications
The study came across three main limitations. The first was that the respondents surveyed were leisure tourists. Second, the majority of the respondents have university degrees. Third, the research sample is limited to approximately 200 respondents. This research primarily contributes to tourism and hospitality management, and consumer behavior literature, as this is the first study yielding insights on a new demographic: Russian Muslim tourists.
Practical implications
The study provides a clear understanding of the Halal hotel attributes demanded by Russian Muslims that can help hotel managers to accommodate the needs of this group while, at the same time, meeting the requirements of guests of different religions.
Social implications
The study contributes to improving social relationships within the Russian Federation as it improves society’s understanding of the life principles of Muslims.
Originality/value
This is the first study investigating the demand for Halal attributes by Russian Muslim tourists. By partly covering the empty research field on this topic, the study provides meaningful direction to future research of the Russian hotels’ Halal services from both supply and demand perspectives.
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Muhammad Junaid Khawaja, Fareed Sharif Farooqi and Toseef Azid
It is consensus among Muslim social scientists that religion as an informal institution plays a very important role in building the socio-economic structure of an Islamic state…
Abstract
Purpose
It is consensus among Muslim social scientists that religion as an informal institution plays a very important role in building the socio-economic structure of an Islamic state. The transmission of religiosity across generations has important economic implications for a family in particular and a society in general. The Tawhidi methodology is applied for a theoretical model and for the development of the model. The purpose of this study is to determine the transmission of religious capital in an Islamic society.
Design/methodology/approach
This study by using an index of religiosity for both parents and their offspring has explored the causal relationship between the religiosity across generations. By using three-tier analytical strategies, i.e. zero-order regression, model with control variables and model with mediating variables, this study has regressed two models for each control and mediating variable.
Findings
The findings for the core variable in all models confirmed the hypothesis of the study that parental religious traits are important determinants of the religiosity of their offspring. For the model of control variables, the variables of area, gender and age of the respondent along with the parental religious index are found to be significant with appropriate signs. For the model with mediating variables, only the variable of parental sharing of religious values along with the parental religious index are found to impact the religiosity of the offspring. Therefore, the nutshell of the findings is that the religious orientation of an offspring is highly influenced by the religious denominations of the parents. The formation of the religious capital is a continuous process and the ultimate result of divine knowledge.
Research limitations/implications
Data at the national level are not collected for this purpose by governmental organizations in a country like Pakistan because of shortage of funds. Therefore, data are collected by the authors.
Practical implications
This study will provide guidance to policy-makers for the formulation of their policies.
Social implications
Intergenerational transmission of religious capital plays a very important role in the moral development of an ideal society.
Originality/value
This is an original effort and is conducted for the first time in Pakistan.
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Masudul Alam Choudhury, Toseef Azid and Mushtaq Ahmad Klasra
To apply the Tawhidi epistemology in the automobile industry as the paradigm of the Islamic socio‐scientific order in terms of its inherent knowledge‐centered worldview.
Abstract
Purpose
To apply the Tawhidi epistemology in the automobile industry as the paradigm of the Islamic socio‐scientific order in terms of its inherent knowledge‐centered worldview.
Design/methodology/approach
The concepts of unity and unification of knowledge in a system‐wide sense are analytically developed in the framework of shuratic process or equivalently as the interactive, integrative and evolutionary process‐oriented methodology (IIE).
Findings
The analytical conceptualization is derived in the light of Qur'anic rules (ahkam) and recommended that policies, programs and instruments would jointly promote the development of mutual profitability and address the social milieu as well.
Research limitations/implications
Tawhidi unification methodology of extensive participation and linkage can be applied widely.
Originality/value
Certain policy recommendations in the light of the shari'ah precepts of this case study can be made.
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This paper aims to undertake a critical evaluation of the purpose and objective of Islamic Law, namely, maqasid as-shari’ah, as it has evolved in Islamic scholastic experience…
Abstract
Purpose
This paper aims to undertake a critical evaluation of the purpose and objective of Islamic Law, namely, maqasid as-shari’ah, as it has evolved in Islamic scholastic experience. But, the greater philosophy and potential of maqasid as-shari’ah within the great design of the monotheistic law, sunnat-Allah, is explained. Such explanation is carried out in the light of the core of Islamic epistemology that directly induces Islamic Law.
Design/methodology/approach
This critical evaluation is pursued in the light of the epistemological worldview and its methodical formalism of unity of knowledge contra a differentiated and conflicting view of human experience in rationalism. The episteme of unity of knowledge is Tawhid as the law of everything in the precept of unity as understood by the monotheistic law, sunnat-Allah. In the light of the extendibility of maqasid as-shari’ah across the relationally unifying domain of sunnat-Allah, the potentiality of shari’ah in terms of res extensa (epistemic extension) and res cogitans (cognitive capacity) is discussed.
Findings
Various occidental thoughts in this quest for extendibility of the epistemic totality are critically examined by the Tawhidi monotheistic law. The universality of the Tawhidi law of monotheism in respect of its characteristics of res extensa and res cogitans is studied to bring out the potentiality of maqasid as-shari’ah. Thereby, the new vision of inter-systemic extensions across diverse domains of intellection interactively unified together is formalized. This formalism goes beyond the existing limits of maqasid as-shari’ah confined as it is to worldly socioeconomic affairs (muamalat).
Research limitations/implications
A much broader investigation is opened up by this paper that can be extended by academic work.
Practical implications
The practical support of the criticism against both the idea of shari’ah-compliance and the incomplete implication of maqasid as-shari’ah as presently understood among Islamic scholars is carried out by a detailed empirical work. The extension to the choice of a new financial instrument of Foreign Trade Financing Certificate is introduced.
Social implications
The critical discussion launched in reference to the wider meaning, objective and purpose of maqasid as-shari’ah under the epistemology of the Tawhidi methodological worldview results in the substantive understanding of maslaha, well-being. Maslaha as well-being forms the ultimate index of socio-scientific valuation under maqasid as-shari’ah in the light of the Tawhidi epistemological worldview. Thereby, the perspective of socioeconomic development, and more extensively socio-scientific intellection, is brought out as extensively participatory evolutionary process under the principle of unity of knowledge (Tawhidi episteme). Brief examples are invoked to establish this fact. An example of measured multidimensional well-being (maslaha) as the final index of participatory organic relations that maqasid as-shari’ah ought to project in reference to Tawhidi methodological worldview is represented.
Originality/value
This is a distinctively original paper in an area that has not been investigated thus far. Besides, much scope for further intellectual investigation is opened up.
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