Pub Date : 2024-07-09DOI: 10.55188/ijifarabic.v15i1.816
Editor
يعظم الاقتصاد وينمو وتزكو ثماره بالعناية بجانبين هما ركنا التطوير والمواكبة؛ الإبداع والتحديث في الوسائل والآليات، والتنظيم والرقابة والتقنين في الممارسات؛ فحيث وجد هذان الركنان كان الاقتصاد في مأمن من شح المبادرات وتطوير وسائل تثمير الأموال وتنميتها من جهة، وفي مأمن من خروج الأنشطة الاقتصادية والمالية عن إطارها الشرعي والانحراف عن مقاصدها. في هذا العدد أربعة أبحاث؛ الأول بعنوان: الإطار القانوني والتنظيمي للاستدامة من المنظور المقاصدي، للباحثيْن عبد الباري مشعل ونزار مشعل، وهو بحث يناقش قضية الاستدامة وتأطيرها قانونيا وتنظيميا من منطلق مقاصد الشريعة الإسلامية في المال، فحاول البناء على ما سطره السابقون في مقاصد الشريعة في المال وتوظيفها في معالجة الموضوع، كما عرض الباحثان نماذج لتطوير آليات تطبيقية لمصفوفة صناعة القرار المقاصدي على صناعة القرار في تقصيد المحافظ المالية استثمارية كانت أو تمويلية.
{"title":"مقدمة","authors":"Editor","doi":"10.55188/ijifarabic.v15i1.816","DOIUrl":"https://doi.org/10.55188/ijifarabic.v15i1.816","url":null,"abstract":"يعظم الاقتصاد وينمو وتزكو ثماره بالعناية بجانبين هما ركنا التطوير والمواكبة؛ الإبداع والتحديث في الوسائل والآليات، والتنظيم والرقابة والتقنين في الممارسات؛ فحيث وجد هذان الركنان كان الاقتصاد في مأمن من شح المبادرات وتطوير وسائل تثمير الأموال وتنميتها من جهة، وفي مأمن من خروج الأنشطة الاقتصادية والمالية عن إطارها الشرعي والانحراف عن مقاصدها.\u0000في هذا العدد أربعة أبحاث؛ الأول بعنوان: الإطار القانوني والتنظيمي للاستدامة من المنظور المقاصدي، للباحثيْن عبد الباري مشعل ونزار مشعل، وهو بحث يناقش قضية الاستدامة وتأطيرها قانونيا وتنظيميا من منطلق مقاصد الشريعة الإسلامية في المال، فحاول البناء على ما سطره السابقون في مقاصد الشريعة في المال وتوظيفها في معالجة الموضوع، كما عرض الباحثان نماذج لتطوير آليات تطبيقية لمصفوفة صناعة القرار المقاصدي على صناعة القرار في تقصيد المحافظ المالية استثمارية كانت أو تمويلية.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"116 50","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141666083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-31DOI: 10.55188/ijifarabic.v13i2.332
Halima Boukerroucha, Said Bouheraoua
This paper discusses the issue of behavioural finance (BF) and its place in the Islamic financial system as well as the feasibility of applying Islamic finance and parameters to forecast the movement of Islamic securities prices. It also explores the possibility of harmonisation between the approaches of market efficiency and behavioural finance. The paper starts with questions about the credibility of the efficient market hypothesis (EMH) in determining the factors affecting the movement of prices in the securities market, especially after the severe financial crises that hit the financial market. The expectations of the positivist approach, which believes that the financial market is characterized by rationality and can correct any deviations of the market value from the fair value, were not borne out. The paper adopts the inductive approach, highlighting the most important views related to BF and EMH and their fundamentals, and also employs an analytical critical approach in analysing the two approaches. Furthermore, it adopts a comparative approach to collate the Islamic financial approach in studying the movement of stocks with the EMH and BF approaches. The paper concludes with a number of findings. The most important of these is that the approaches of market efficiency and behavioural finance do not, in general, contravene the principles of Islamic finance. Moreover, harmonisation between the rational approach based on market efficiency and behavioural finance is one of the best approaches to serve the price of Islamic securities and is in line with the fundamentals of Islamic finance. However, that harmonisation will remain an abstraction unless the market is regulated by Sharīʿah principles and legal rules.
{"title":"Behavioural Finance: An Islamic Perspective","authors":"Halima Boukerroucha, Said Bouheraoua","doi":"10.55188/ijifarabic.v13i2.332","DOIUrl":"https://doi.org/10.55188/ijifarabic.v13i2.332","url":null,"abstract":"This paper discusses the issue of behavioural finance (BF) and its place in the Islamic financial system as well as the feasibility of applying Islamic finance and parameters to forecast the movement of Islamic securities prices. It also explores the possibility of harmonisation between the approaches of market efficiency and behavioural finance. The paper starts with questions about the credibility of the efficient market hypothesis (EMH) in determining the factors affecting the movement of prices in the securities market, especially after the severe financial crises that hit the financial market. The expectations of the positivist approach, which believes that the financial market is characterized by rationality and can correct any deviations of the market value from the fair value, were not borne out. The paper adopts the inductive approach, highlighting the most important views related to BF and EMH and their fundamentals, and also employs an analytical critical approach in analysing the two approaches. Furthermore, it adopts a comparative approach to collate the Islamic financial approach in studying the movement of stocks with the EMH and BF approaches. The paper concludes with a number of findings. The most important of these is that the approaches of market efficiency and behavioural finance do not, in general, contravene the principles of Islamic finance. Moreover, harmonisation between the rational approach based on market efficiency and behavioural finance is one of the best approaches to serve the price of Islamic securities and is in line with the fundamentals of Islamic finance. However, that harmonisation will remain an abstraction unless the market is regulated by Sharīʿah principles and legal rules.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"85 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115052523","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-31DOI: 10.55188/ijifarabic.v13i2.333
Abdulazeem Abozaid
This research deals with the most important legal issues related to the financial applications of artificial intelligence, which has reached an advanced stage. Moreover, new applications have appeared that herald a rapid succession of further developments of increasing complexity. This is discussed after the necessary preliminaries to clarify the concept of artificial intelligence and explain its levels and challenges. The Sharīʿah issues presented by the research are jurisprudential issues, some of which have maqāṣidī dimensions, which the researcher reviewed from the macroeconomic perspective. The Sharīʿah issues related to the financial applications of artificial intelligence are not limited to those presented in the research; rather, there are others, and these issues will continue to develop as this intelligence keeps developing. This requires continuous monitoring of new issues in order to deal with them precisely from the perspectives of fiqh and the objectives of the Sharīʿah.
{"title":"Financial Applications of Artificial Intelligence: Sharīʿah Issues and the Maqāṣidī Dimensions","authors":"Abdulazeem Abozaid","doi":"10.55188/ijifarabic.v13i2.333","DOIUrl":"https://doi.org/10.55188/ijifarabic.v13i2.333","url":null,"abstract":"This research deals with the most important legal issues related to the financial applications of artificial intelligence, which has reached an advanced stage. Moreover, new applications have appeared that herald a rapid succession of further developments of increasing complexity. This is discussed after the necessary preliminaries to clarify the concept of artificial intelligence and explain its levels and challenges. The Sharīʿah issues presented by the research are jurisprudential issues, some of which have maqāṣidī dimensions, which the researcher reviewed from the macroeconomic perspective. The Sharīʿah issues related to the financial applications of artificial intelligence are not limited to those presented in the research; rather, there are others, and these issues will continue to develop as this intelligence keeps developing. This requires continuous monitoring of new issues in order to deal with them precisely from the perspectives of fiqh and the objectives of the Sharīʿah.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130091771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-31DOI: 10.55188/ijifarabic.v13i2.335
Khalid Mohammed Al Sayari
This research deals with the most important legal issues related to the financial applications of artificial intelligence, which has reached an advanced stage. Moreover, new applications have appeared that herald a rapid succession of further developments of increasing complexity. This is discussed after the necessary preliminaries to clarify the concept of artificial intelligence and explain its levels and challenges. The Sharīʿah issues presented by the research are jurisprudential issues, some of which have maqāṣidī dimensions, which the researcher reviewed from the macroeconomic perspective. The Sharīʿah issues related to the financial applications of artificial intelligence are not limited to those presented in the research; rather, there are others, and these issues will continue to develop as this intelligence keeps developing. This requires continuous monitoring of new issues in order to deal with them precisely from the perspectives of fiqh and the objectives of the Sharīʿah.
{"title":"Cash Waqf For Financing: A Critical Appraisal Of Selected Contemporary Applications","authors":"Khalid Mohammed Al Sayari","doi":"10.55188/ijifarabic.v13i2.335","DOIUrl":"https://doi.org/10.55188/ijifarabic.v13i2.335","url":null,"abstract":"This research deals with the most important legal issues related to the financial applications of artificial intelligence, which has reached an advanced stage. Moreover, new applications have appeared that herald a rapid succession of further developments of increasing complexity. This is discussed after the necessary preliminaries to clarify the concept of artificial intelligence and explain its levels and challenges. The Sharīʿah issues presented by the research are jurisprudential issues, some of which have maqāṣidī dimensions, which the researcher reviewed from the macroeconomic perspective. The Sharīʿah issues related to the financial applications of artificial intelligence are not limited to those presented in the research; rather, there are others, and these issues will continue to develop as this intelligence keeps developing. This requires continuous monitoring of new issues in order to deal with them precisely from the perspectives of fiqh and the objectives of the Sharīʿah.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"579 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134458840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-31DOI: 10.55188/ijifarabic.v13i2.336
Zohby Hassan AlZohby, Mohammad Ghaith Mahaini
The research deals with the topic of cryptocurrencies, specifically Ripple. The research problem lies in the fact that this currency exists and has a daily trading volume of billions of dollars, so it was necessary to investigate its nature and characteristics to determine its jurisprudential classification. To achieve the objectives of the research, the researchers relied on the descriptive, inductive, and analytical approaches by scrutinising research and opinions describing the reality of cryptocurrencies, especially Ripple, and analysing matters related to them to determine their jurisprudential classification. The research began by talking about cryptocurrencies in general, then moved to discuss Ripple specifically, explaining matters related to it and the extent to which the functions of money apply to it. The research concluded that Ripple does not qualify as money because it does not achieve the functions of money. The research also found that a distinction must be made between the Ripple network (RippleNet), which is used to facilitate financial transactions, and the Ripple currency (XRP) that is traded on it. RippleNet is an electronic program that is used as a tool or means to conduct transactions, and it is one of the permissible things that facilitate people’s transactions. As for the Ripple XRP, it is an electronic commodity, and there is nothing in the Sharīʿah to prove that it is forbidden in terms of its origin and essence. As for its circulation and trading, they must be studied independently.
{"title":"Jurisprudential Adaptation of Cryptocurrency Ripple as a Model","authors":"Zohby Hassan AlZohby, Mohammad Ghaith Mahaini","doi":"10.55188/ijifarabic.v13i2.336","DOIUrl":"https://doi.org/10.55188/ijifarabic.v13i2.336","url":null,"abstract":"The research deals with the topic of cryptocurrencies, specifically Ripple. The research problem lies in the fact that this currency exists and has a daily trading volume of billions of dollars, so it was necessary to investigate its nature and characteristics to determine its jurisprudential classification. To achieve the objectives of the research, the researchers relied on the descriptive, inductive, and analytical approaches by scrutinising research and opinions describing the reality of cryptocurrencies, especially Ripple, and analysing matters related to them to determine their jurisprudential classification. The research began by talking about cryptocurrencies in general, then moved to discuss Ripple specifically, explaining matters related to it and the extent to which the functions of money apply to it. The research concluded that Ripple does not qualify as money because it does not achieve the functions of money. The research also found that a distinction must be made between the Ripple network (RippleNet), which is used to facilitate financial transactions, and the Ripple currency (XRP) that is traded on it. RippleNet is an electronic program that is used as a tool or means to conduct transactions, and it is one of the permissible things that facilitate people’s transactions. As for the Ripple XRP, it is an electronic commodity, and there is nothing in the Sharīʿah to prove that it is forbidden in terms of its origin and essence. As for its circulation and trading, they must be studied independently.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"44 36","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120811333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-31DOI: 10.55188/ijifarabic.v13i2.334
Mohammad I. Al-Suhaibani, Khaled A. Almuhanna, Slim A. Mseddi
The aim of the paper is to estimate the zakat of equity funds in the Saudi stock market based on two fiqh rulings: the prevailing ruling that imposes zakat of trade merchandise on the value of all fund units, and the alternative ruling that links the fund zakat to the action of the fund manager in trading the fund components and whether or not zakat has already been paid on those components. The paper utilized the data of 32 equity funds on Saudi Exchange during 2021 and found that the estimated turnover ratios of equity funds support the alternative fiqh ruling. The results are preliminary as they are based on a set of assumptions to estimate the turnover ratios. Based on the results, the paper suggested four options for imposing zakat on equity funds and proposed a new formula to calculate the turnover ratio of equity funds.
{"title":"Zakat of Investment Funds: An Applied Study on Equity Funds in the Saudi Stock Market","authors":"Mohammad I. Al-Suhaibani, Khaled A. Almuhanna, Slim A. Mseddi","doi":"10.55188/ijifarabic.v13i2.334","DOIUrl":"https://doi.org/10.55188/ijifarabic.v13i2.334","url":null,"abstract":"The aim of the paper is to estimate the zakat of equity funds in the Saudi stock market based on two fiqh rulings: the prevailing ruling that imposes zakat of trade merchandise on the value of all fund units, and the alternative ruling that links the fund zakat to the action of the fund manager in trading the fund components and whether or not zakat has already been paid on those components. The paper utilized the data of 32 equity funds on Saudi Exchange during 2021 and found that the estimated turnover ratios of equity funds support the alternative fiqh ruling. The results are preliminary as they are based on a set of assumptions to estimate the turnover ratios. Based on the results, the paper suggested four options for imposing zakat on equity funds and proposed a new formula to calculate the turnover ratio of equity funds.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126324812","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-28DOI: 10.55188/ijifarabic.v9i2.263
Abdulazeem Abozaid
Undoubtedly, the emergence of cryptocurrencies and their successful performance recently has imposed upon Shari’a scholars the challenge of addressing related Shari’a issues and providing Muslims with clear answers as to whether or not they can deal with, or invest in, these currencies. The challenge, however, is in demystifying these currencies and understanding their technicalities and economic implications, because no Shari’a rule can be issued about something before having a complete and thorough understanding of its nature. Hence, it is necessary to first study the technicalities of these currencies in order to address their various Shari’a issues. Cryptocurrencies involve various Shari’a matters, including the very permissibility of their issuance in view of the fact that they are not backed by real valuable assets or supervised by governments or financial authorities, such that people dealing with them are vulnerable to possible fraud and manipulative fluctuations in their values. Other Shari’a issues also include trading in them and whether or not they are considered as interest-bearing (ribawi) commodities such that the injunctions pertaining to interest (riba) may apply to them, as they apply to conventional currencies. In addition, they have potentially negative implications for the market, such as their use in money laundering, drugs trafficking and other illegal dealings. This paper treats the Shari’a aspects of cryptocurrencies using both an Islamic jurisprudential (fiqh) approach as well as a ‘Higher Objectives of the Shari’a (maqasid al-shariah) approach - treating their Shari’a issues from a macro and philosophical perspective. It is hoped that this paper will provide solid .ground for future research to build on its findings.
{"title":"Does Sharia recognize the price of encrypted digital currencies?","authors":"Abdulazeem Abozaid","doi":"10.55188/ijifarabic.v9i2.263","DOIUrl":"https://doi.org/10.55188/ijifarabic.v9i2.263","url":null,"abstract":"Undoubtedly, the emergence of cryptocurrencies and their successful performance recently has imposed upon Shari’a scholars the challenge of addressing related Shari’a issues and providing Muslims with clear answers as to whether or not they can deal with, or invest in, these currencies. The challenge, however, is in demystifying these currencies and understanding their technicalities and economic implications, because no Shari’a rule can be issued about something before having a complete and thorough understanding of its nature. Hence, it is necessary to first study the technicalities of these currencies in order to address their various Shari’a issues. Cryptocurrencies involve various Shari’a matters, including the very permissibility of their issuance in view of the fact that they are not backed by real valuable assets or supervised by governments or financial authorities, such that people dealing with them are vulnerable to possible fraud and manipulative fluctuations in their values. Other Shari’a issues also include trading in them and whether or not they are considered as interest-bearing (ribawi) commodities such that the injunctions pertaining to interest (riba) may apply to them, as they apply to conventional currencies. In addition, they have potentially negative implications for the market, such as their use in money laundering, drugs trafficking and other illegal dealings. This paper treats the Shari’a aspects of cryptocurrencies using both an Islamic jurisprudential (fiqh) approach as well as a ‘Higher Objectives of the Shari’a (maqasid al-shariah) approach - treating their Shari’a issues from a macro and philosophical perspective. It is hoped that this paper will provide solid .ground for future research to build on its findings.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122752034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-28DOI: 10.55188/ijifarabic.v9i2.262
Abdullah Al-Baddarin, Amir Al-Atoum, Adnan Rabab'ah
This study aimed at discussing the Barriers of Islamic banks financing for solar energy projects in Jordan, and to indicate the appropriate ways to activate the financing of Islamic banks for solar energy projects and proposing suitable financing methods by Islamic banks for solar energy projects. To achieve the objectives of the study, the descriptive approach and the analytical method were used. The study was divided into four main sections: solar energy and the requirements of investment in it, Islamic banks and the investment in solar energy in Jordan, financing of solar projects in Jordan and activating the role of Islamic banks in financing solar energy projects in Jordan.The study founded that the sources of funding were limited to external grants, government funding and funding from private external sources. It founded that there were challenges to financing these projects, such as the high risk of these projects, and the lack of real encouragement for investment by energy sector actors. In order to activate the role of Islamic banks, it was necessary to emphasize the role of Islamic banks in financing development, in addition to enhancing the expected returns from solar energy, not to mention activating the role of the government in providing the appropriate investment, projects' environment. The study suggested a range of financing methods suitable for the solar sector, such as Murabaha, Musharaka, Mudaraba, Leasing, Istisna'a, repurchase agreements, asset backed securities and the establishment of investment funds to finance solar projects.
{"title":"Islamic Banks Financing for Solar Projects in Jordan Reality and Ways of Activation","authors":"Abdullah Al-Baddarin, Amir Al-Atoum, Adnan Rabab'ah","doi":"10.55188/ijifarabic.v9i2.262","DOIUrl":"https://doi.org/10.55188/ijifarabic.v9i2.262","url":null,"abstract":"This study aimed at discussing the Barriers of Islamic banks financing for solar energy projects in Jordan, and to indicate the appropriate ways to activate the financing of Islamic banks for solar energy projects and proposing suitable financing methods by Islamic banks for solar energy projects. To achieve the objectives of the study, the descriptive approach and the analytical method were used. The study was divided into four main sections: solar energy and the requirements of investment in it, Islamic banks and the investment in solar energy in Jordan, financing of solar projects in Jordan and activating the role of Islamic banks in financing solar energy projects in Jordan.The study founded that the sources of funding were limited to external grants, government funding and funding from private external sources. It founded that there were challenges to financing these projects, such as the high risk of these projects, and the lack of real encouragement for investment by energy sector actors. In order to activate the role of Islamic banks, it was necessary to emphasize the role of Islamic banks in financing development, in addition to enhancing the expected returns from solar energy, not to mention activating the role of the government in providing the appropriate investment, projects' environment. The study suggested a range of financing methods suitable for the solar sector, such as Murabaha, Musharaka, Mudaraba, Leasing, Istisna'a, repurchase agreements, asset backed securities and the establishment of investment funds to finance solar projects.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114986479","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-28DOI: 10.55188/ijifarabic.v9i2.261
Said Bouheraoua
This paper examines the issue of Shariah governance in sukuk issuance by examining the parameters implemented. The problem the paper addresses is the conflicting views of scholars in determining the responsibility of the Shariah bodies towards their fatwas and resolutions related to the issuance of sukuk. The paper employs the incomplete induction methodology by extracting contemporary texts addressing the legal and Shariah status of the Shariah Supervisory Board and the nature of the contractual relationship with them. it also applies a critical comparative analysis that highlights the fundamentals the scholars' conflicting views, to adopt the most correct of them. The research concluded with a set of findings, among them the scholars' agreement in principle to make the Shariah body liable and bear legal responsibility either criminal or civil or both, if it contravened the Shariah provisions, however, they differed in the rules defining acts which are considered to be contrary to the Shariah provisions and the conditions to execute the punishments.
{"title":"Shari'a Governence in Sukuk Issuance","authors":"Said Bouheraoua","doi":"10.55188/ijifarabic.v9i2.261","DOIUrl":"https://doi.org/10.55188/ijifarabic.v9i2.261","url":null,"abstract":"This paper examines the issue of Shariah governance in sukuk issuance by examining the parameters implemented. The problem the paper addresses is the conflicting views of scholars in determining the responsibility of the Shariah bodies towards their fatwas and resolutions related to the issuance of sukuk. The paper employs the incomplete induction methodology by extracting contemporary texts addressing the legal and Shariah status of the Shariah Supervisory Board and the nature of the contractual relationship with them. it also applies a critical comparative analysis that highlights the fundamentals the scholars' conflicting views, to adopt the most correct of them. The research concluded with a set of findings, among them the scholars' agreement in principle to make the Shariah body liable and bear legal responsibility either criminal or civil or both, if it contravened the Shariah provisions, however, they differed in the rules defining acts which are considered to be contrary to the Shariah provisions and the conditions to execute the punishments.","PeriodicalId":322283,"journal":{"name":"مجلة إسرا الدولية للمالية الإسلامية","volume":"271 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134589916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-27DOI: 10.55188/ijifarabic.v13i1.243
Lina Mohammed Abdo Alaghbari, Anwar Hasan Abdullah Othman, Azman Bin Mohd. Noor
Women's economic empowerment is an important issue for development in order to achieve inclusive and sustainable growth, and it is also one of the most effective ways to advance the role of women in society. It is therefore a lifeline for bringing Yemeni women into economic life, but the economic opportunities available to Yemeni women are very limited. That is because there are many challenges facing their economic empowerment. Therefore, this study aims to identify the views of Yemeni women regarding the most important challenges and obstacles that stand in the way of economic empowerment of women in Yemen by adopting the analytical descriptive methodology with the help of primary data collected by a developed questionnaire tool, and secondary data which was obtained from official reports, previous studies and other resources relevant to the study topic. The findings indicate that women's financial illiteracy and negative customs and traditions in the society are the most critical challenges to the economic empowerment of Yemeni women, with percentages of 56% and 52% respectively, with other factors receiving various percentages. Meanwhile, 2% of the total sample size (421 women) brought to light other challenges to women's economic empowerment in Yemen, the most important of which was the insufficient proliferation of Islamic financial institutions. Based on the results and findings, the study recommends more attention be paid to making education compulsory in the society, and the gradual correction of negative customs and traditions in Yemeni society through spreading knowledge and awareness, which could improve the chances of economic empowerment of women.
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