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The purpose of this paper is to explore the most prominent human rights violations during the COVID-19 pandemic in accordance with international human rights law.
Abstract
Purpose
The purpose of this paper is to explore the most prominent human rights violations during the COVID-19 pandemic in accordance with international human rights law.
Design/methodology/approach
Through doctrinal and legal study and content analysis, this paper analyses the important relevant legal provisions under International human rights law and applies these provisions to the reality of managing the COVID-19 crisis to identify the most prominent human rights violations during the COVID-19 outbreak. This research paper considered as a review paper in that it provides a review of the most prominent measures taken during the COVID-19 crisis, which constitutes violations of international human rights law.
Findings
It is concluded that some measures that have been taken by countries to confront the COVID-19 pandemic have constituted violations of human rights and did not comply with the legal conditions to restrict human rights. Indeed, the COVID-19 pandemic has shown the ugly fractures in health-care systems, health inequities, racism and discrimination, Undermining the right to freedom of expression and the right to access information, gross negligence in protecting detainees from COVID-19 infection, all of these constitute clear violations of the principles of international human rights law.
Research limitations/implications
The spread of COVID-19 has not stopped, and its effects still continue, including human rights violations. Therefore, this paper cannot enumerate all human rights violations that occur during the spread of COVID-19.
Practical implications
Based on the results in this paper, governments need to be more prepared to face any health crisis at all levels including health care, which would reduce human rights violations.
Social implications
This research paper reflects positively on the social reality, as the adoption of its recommendations leads to the provision of adequate health care to all members of society in accordance with the principles of human rights, granting them the right to access information, protecting their right to freedom of expression, reducing the phenomenon of racism and discrimination and providing adequate health care to all detainees.
Originality/value
This paper studies an up-to-date topic that we are still living and seeing its effects. The benefit of this paper is to provide recommendations that protect human rights during the COVID-19 pandemic.
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Mohammed M. Elgammal, Fatma Ehab Ahmed and David G. McMillan
The purpose of this paper is to consider the economic information content within several popular stock market factors and to the extent to which their movements are both explained…
Abstract
Purpose
The purpose of this paper is to consider the economic information content within several popular stock market factors and to the extent to which their movements are both explained by economic variables and can explain future output growth.
Design/methodology/approach
Using US stock portfolios from 1964 to 2019, the authors undertake three related exercises: whether a set of common factors contain independent predictive ability for stock returns, what economic and market variables explain movements in the factors and whether stock market factors have predictive power for future output growth.
Findings
The results show that several of the considered factors do not contain independent information for stock returns. Further, most of these factors are neither explained by economic conditions nor they provide any predictive power for future output growth. Thus, they appear to contain very little economic content. However, the results suggest that the impact of these factors is more prominent with higher macroeconomic risk (contractionary regime).
Research limitations/implications
The stock market factors are more likely to reflect existing market conditions and exhibit a weaker relation with economic conditions and do not act as a window on future behavior.
Practical implications
Fama and French three-factor model still have better explanations for stock returns and economic information more than any other models.
Originality/value
This paper contributes to the literature by examining whether a selection of factors provides unique information when modelling stock returns data. It also investigates what variables can predict movements in the stock market factors. Third, it examines whether the factors exhibit a link with subsequent economic output. This should establish whether the stock market factors contain useful information for stock returns and the macroeconomy or whether the significance of the factor is a result of chance. The results in this paper should advance our understanding of asset price movement and the links between the macroeconomy and financial markets and, thus, be of interest to academics, investors and policy-makers.
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Mohd Zaidi Md Zabri and Mustafa Omar Mohammed
This study aims to validate a potential synergistic venture between cash waqf (Islamic endowment) institutions (CWIs) and financial cooperatives (FCs) in the provision of…
Abstract
Purpose
This study aims to validate a potential synergistic venture between cash waqf (Islamic endowment) institutions (CWIs) and financial cooperatives (FCs) in the provision of affordable Islamic home financing (IHF) in Malaysia.
Design/methodology/approach
The study adopted semi-structured interviews with ten experts to validate the cash waqf-financial-cooperative-mushārakah mutanāqiṣah (CWFCMM) model. Thematic analysis technique was used to analyse the verbatim texts.
Findings
The findings show that the majority of the informants have positive perceptions of the potential of the CWFCMM model to provide financially affordable IHF products in Malaysia. Nevertheless, this study sheds light on the varying degrees of latent issues and challenges that might arise in the implementation of this model. For example, FCs need to practice the correct business model, implement good governance structures and employ the right people. Meanwhile, CWIs need to work on their accountability issues by publishing their audited accounts in mainstream newspapers, much like what is being done by non-governmental organisations such as the widely recognised Malaysian Medical Relief Society (MERCY Malaysia).
Research limitations/implications
This study interviewed a small, industry-specific number of informants in generating its findings. Time and budget constraints are some of the limiting factors in carrying out the study. Because of these factors, the generalisation of the study’s findings will be limited.
Practical implications
First, the CWFCMM model offers an alternative, financially affordable IHF instrument to low- and middle-income households in Malaysia. Second, the involvement of third-sector institutions such as FCs and CWIs in the provision of IHF will reduce the burden of the government in its spending on home financing solutions for civil servants. Third, this model will harness the potential of waqf-based financing beyond the contemporary limited applications to mosques, graveyards and taḥfīẓ (Qurʾan memorization) schools.
Originality/value
This study presents an alternative IHF model that transcends the current institutional framework that is heavily dominated by Islamic commercial banks and government-owned home financing institutions. The study does not focus on a single third-sector institution but on an integration of at least two of them, CWIs and FCs, in implementing the IHF model.
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Ummi Ibrahim Atah, Mustafa Omar Mohammed, Abideen Adewale Adeyemi and Engku Rabiah Adawiah
The purpose of this paper is to propose a model that will demonstrate how the integration of Salam (exclusive agricultural commodity trade) with Takaful (micro-Takaful – a…
Abstract
Purpose
The purpose of this paper is to propose a model that will demonstrate how the integration of Salam (exclusive agricultural commodity trade) with Takaful (micro-Takaful – a subdivision of Islamic insurance) and value chain can address major challenges facing the agricultural sector in Kano State, Nigeria.
Design/methodology/approach
The study conducted a thorough and critical analysis of relevant literature and existing models of financing agriculture in Nigeria to come up with the proposed model.
Findings
The findings indicate that measures undertaken to address the major challenges fail. In view of this, this study proposed Bay-Salam with Takaful and value chain model to solve a number of challenges such as poor access to financing, poor marketing and pricing, delay, collateral requirement and risk issues in order to avail farmers with easy access to finance and provide effective security to financial institutions.
Research limitations/implications
The paper is limited to using secondary data. Therefore, empirical investigation can be carried out to strengthen the validation of the model.
Practical implications
The study outcome seeks to improve the productivity of the farmers through enhancing their access to finance. This will increase their level of production and provide more employment opportunities. In addition, it will boost financial inclusion, income generation, poverty alleviation, standard of living, food security and overall economic growth and development.
Originality/value
The novelty of this study lies in the integration of classical Bay-Salam with Takaful and value chain and create a unique model structure which the researchers do not come across in any research that presented it in Nigeria.
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The purpose of this study is to understand and analyze the key topics on which scholars have engaged in relation to crowdfunding and its starring role in the Gulf Cooperation…
Abstract
Purpose
The purpose of this study is to understand and analyze the key topics on which scholars have engaged in relation to crowdfunding and its starring role in the Gulf Cooperation Council (GCC) countries from an Islamic perspective. A Structured Literature Review (SLR) is used in this study to assess how scholars carried out their studies in order to better understand future research directions.
Design/methodology/approach
The study adopted a SLR methodology and considered 89 peer-reviewed studies published between 1981 and 2021 in GCC countries.
Findings
The study identified the starring role of crowdfunding from the Islamic perspective, its role in economic development and its role as a source of finance for new business startups in GCC countries.
Research limitations/implications
Because the research was conducted by a single person, his subjective interpretation might have an impact on the results. Furthermore, only journal papers limited to GCC and published between 1981 and 2021 were examined.
Practical implications
Countries in GCC might recognize the starring role of crowdfunding for their SMEs and economic development.
Originality/value
The authors draw avenues for future research by considering the starring role of crowdfunding using SLR from the Islamic perspective. This helps future researchers to identify the starring role of crowdfunding to contextualize in GCC countries.
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Sulistyowati, Raditya Sukmana, Ririn Tri Ratnasari, Ascarya and Tika Widiastuti
This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant;…
Abstract
Purpose
This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant; thus, the present paper aims to provide a nongovernment budget to lessen the government's burden
Design/methodology/approach
This qualitative study uses structured in-depth interviews with 12 respondents to generate valuable insights and thoughts in order to frame recommendations.
Findings
The findings highlight the key themes: human resources, finance, collaboration and coordination, legal issues, basic healthcare insufficiency, data and digitalization, accountability and sustainability and infrastructure. The following are the proposed solutions: capacity building program (CBP), hybrid waqf scheme, big data connectivity, specific legal framework, refocusing and reallocating of resources for the health sector during and after the pandemic
Research limitations/implications
This study focuses on Indonesia and Malaysia as the authors believe that these two countries have a lot of practice in the field. Further studies may focus on other countries, such as Pakistan.
Practical implications
This paper proposes potential ways to embrace government policy consideration, optimize the elaboration among productive waqf with other kinds, improve governance of and coordination among waqf institutions and increase the awareness to improve significant development.
Social implications
By considering this paper's recommendations, waqf stakeholders in the healthcare system can improve the social benefits for poor and needy patients.
Originality/value
This study presents the latest strategic analysis of waqf, which is important for the government policy in developing waqf.
This study aims to define the parameters of the reward-risk principle in Islamic finance as established in the literature and discuss propositions that are presented on how such a…
Abstract
Purpose
This study aims to define the parameters of the reward-risk principle in Islamic finance as established in the literature and discuss propositions that are presented on how such a principle is to be applied to Islamic banking products.
Design/methodology/approach
A descriptive approach is used to explore the normative parameters and criticisms of the application of reward-risk in Islamic finance.
Findings
The study finds that the principle of reward-risk is embodied in the multi-component concept of ʿiwaḍ (counter value) which must be evident in market transactions that involve commercial exchanges. The components include risk, costs, effort, value-adding and capital, all of which apply uniquely to different contractual forms of financing.
Research limitations/implications
The study uses academic literature and industry documents along with modest contact with prominent practitioners who provided general feedback on prevalent Islamic finance industry practices.
Practical implications
This study exposits the variety of approaches in applying the reward-risk principle and sheds light on the primary elements of the principle which will facilitate its greater consideration by the Islamic finance industry.
Originality/value
This study is a meaningful attempt at conveniently summing up and applying the parameters that are considered when discussing the scope of the reward-risk principle in Islamic finance.
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Anismar, Deddy Satria and Muhammad Ali
Purpose – This research aimed to identify the ideal concept of tourism development in Aceh Singkil, Indonesia, and to explain how the application of religious tourism is based on…
Abstract
Purpose – This research aimed to identify the ideal concept of tourism development in Aceh Singkil, Indonesia, and to explain how the application of religious tourism is based on the society as a community. The community included three parties, namely, government, community, and private.
Methodology – For this research, both a qualitative approach and a phenomenological method were used to get the accurate results. Although the recent method used was a qualitative research approach, the data were discovered through three instruments: observation, interview, and documentation. Observation involved observing a variety of tourism activities in the field study as well as informants. While the interview was conducted by participant method, the data found were familiar without being engineered by the informant.
Finding – Aceh Singkil is one of the areas in Aceh Province that has good tourism potential including natural beauty resources, geographical location close to any district, and a diverse of community culture. However, the local government does not have ideal concepts to develop these resources. The pattern of development is still done in traditional ways without the involvement of private parties and the community. The local community is only used as an object of tourism activity and its existence is not so obviously involved. As a result, tourism in Aceh Singkil has no direction of development. Based on this research, it was found that the relevant tourism concepts to be developed in Aceh Singkil are based on religious tourism (Halal Tour), as Halal Tourism is a reflection of the culture of the Aceh Singkil community.
Research Limitations – This research has limitations on non-specific religious tourism and limited quantitative data as well as a vast range of research areas.
Originality/Value – Religious tourism research is the mainstay of research concepts in Islamic countries as well as in Indonesia especially in Aceh provincy, so it is necessary to find the ideal concept for its application and become an example for other regions in the future.
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Beatrice D. Simo-Kengne and Siphiwo Bitterhout
The theoretical debate of corruption's impact on economic growth remains unsettled, making it an empirical question. This study aims to investigate corruption's effect on BRICS…
Abstract
Purpose
The theoretical debate of corruption's impact on economic growth remains unsettled, making it an empirical question. This study aims to investigate corruption's effect on BRICS countries' economic growth.
Design/methodology/approach
A panel dataset on BRICS countries spanning 1996 to 2020 was used. Bias-corrected estimators in small dynamic panels were employed to estimate a growth model as a linear-quadratic function of corruption that accounts for cross-sectional dependence, endogeneity and unobserved heterogeneity due to country and time-specific characteristics.
Findings
The results indicate that corruption is detrimental to economic growth in BRICS countries; the quadratic relationship implies corruption is less prevalent in some countries than others. Thus, governments of BRICS countries are encouraged to embark on anti-corruption policies to boost their economic performance.
Originality/value
An important limitation of corruption studies is the difficulty in measuring real corruption experiences due to the secretive nature of corruption and the fact that corruption is known not to leave a paper trail. For the uncertainty of the index estimates, the analysis used a continuous corruption composite score measuring the standard deviation of the extent to which public power is exercised for public gain. Furthermore, estimation and inference are robust to small dynamic panels with a general form of cross-sectional dependence.
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Mohamed Asmy Bin Mohd Thas Thaker
This paper aims to explore the opinions and recommendations of various experts on the integrated cash waqf micro enterprise investment (ICWME-I) model, particularly in terms of…
Abstract
Purpose
This paper aims to explore the opinions and recommendations of various experts on the integrated cash waqf micro enterprise investment (ICWME-I) model, particularly in terms of its suitability, applicability and prospects in the market.
Design/methodology/approach
The research involves primary data which are collected from semi-structured interviews conducted with experts from various backgrounds. Thematic analysis was used to examine the data.
Findings
The experts support the suitability of the ICWME-I model in providing financial services to micro enterprises. They highlight the importance of establishing, managing and operating ICWME-I model under the aegis of the State Islamic Religious Council in Malaysia or the corporate sector. They further emphasize that the characteristics of micro enterprises, the element of sustainable funding, the importance of proper management and administration, legal matters and public awareness are key factors that influence the sustainability of the ICWME-I model.
Originality/value
This paper adds to the literature on waqf and micro enterprises especially from the Malaysian context. The paper validates the ICWME-I model in terms of its suitability, applicability and prospects in the market by interviewing experts from various backgrounds.
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