Malaysian Journal of Syariah and Law最新文献

{"title":"KEPERLUAN SYARIAH PRATAKRIF DALAM SISTEM TERAS PERBANKAN: SUATU KAJIAN KUALITATIF TERHADAP KONTRAK MUḌĀRABAH DAN MUSHĀRAKAH","authors":"Mohd Naufal Mohd Tarmizi, A. H. Buang, Mohd Zaid Daud","doi":"10.33102/mjsl.vol12no1.474","DOIUrl":"https://doi.org/10.33102/mjsl.vol12no1.474","url":null,"abstract":"\u0000The implementation of the core banking system has become an enabler for the business that provides an agile platform to achieve the corporate objective of Islamic banking. One of the challenges for its development is establishing Shariah parameters for each Islamic banking product due to the complexity of its requirements compared to conventional banking products. Thus, this study aims to provide information on ways to establish Shariah requirements based on the authorized Shariah standards such as policy documents issued by the Central Bank of Malaysia dan AAOIFI aside from evaluating the prospect of establishing it as a predefined Shariah requirement that able be translated as parameters in core banking system. A qualitative approach via textual study, legal doctrine, and interviews was undertaken in this study to analyse data related to Shariah contract requirements. This study established predefined Shariah requirements derived from analysis of Shariah requirements under muḍārabah and mushārakah contracts by focussing on the Shariah requirement part of the policy documents issued by the Central Bank of Malaysia aside from comparison analysis conducted on Shariah standards issued by AAOIFI of the similar contracts. It is found that authorized references are vital to ensure the Shariah contract parameters and processes that are translated into the core banking system are in line with resolutions decreed by authorized bodies.\u0000 \u0000\u0000 \u0000Abstrak\u0000\u0000Perlaksanaan sistem teras perbankan menjadi satu pemboleh kepada perniagaan dengan menyediakan platform yang tangkas untuk mencapai objektif korporat perbankan Islam. Salah satu cabaran bagi pembangunannya adalah menghasilkan parameter Syariah bagi setiap produk perbankan Islam kerana keperluan-keperluannya lebih kompleks berbanding produk perbankan konvensional. Maka, kajian ini bertujuan untuk membekalkan informasi berkaitan cara-cara penghasilan keperluan-keperluan Syariah berdasarkan standard Syariah berautoriti seperti polisi dokumen terbitan Bank Negara Malaysia dan Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) selain menilai prospek menjadikannya sebagai keperluan Syariah pratakrif yang mampu diterjemah kepada parameter dalam sistem teras perbankan. Pendekatan kualitatif melalui metodologi kajian teks, doktrin undang-undang dan temu bual telah dijalankan dalam kajian untuk menganalisis data-data berkaitan keperluan kontrak Syariah. Kajian ini telah menghasilkan keperluan Syariah pratakrif berdasarkan penelitian terhadap keperluan-keperluan Syariah di bawah kontrak muḍārabah dan mushārakah dengan memfokuskan bahagian keperluan-keperluan Syariah polisi dokumen terbitan Bank Negara Malaysia selain analisis perbandingan telah dilakukan terhadap standard Syariah bagi kontrak yang sama keluaran AAOIFI. Kajian ini mendapati rujukan berautoriti ini adalah penting supaya parameter dan proses berkaitan kontrak Syariah yang diterjemah ke dalam sistem teras perbankan adalah selar","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"8 s3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140741752","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}

{"title":"THE CONCEPTUAL NEXUS BETWEEN ISLAMIC FORESIGHT, ISLAMIC THOUGHT AND THE SHARIAH","authors":"Norfadhilah Mohamad Ali, Fadhlina Alias, Hendun Abd Rahman Shah, Muhammad Nizam Awang, Rana Abu-Mounes","doi":"10.33102/mjsl.vol12no1.524","DOIUrl":"https://doi.org/10.33102/mjsl.vol12no1.524","url":null,"abstract":"The current global Muslim community is facing new challenges amidst the remnants of historical colonisation, sectarianism, and current geopolitical, economic and social realities. Despite these challenges, Muslim communities in general have been consistent in preserving the religious precepts derived from the primary sources of Al-Quran and Al-Sunnah, which form the foundation of the Islamic identity. Although widely underemphasised, futures thinking is deeply ingrained in the precepts of Islamic thought since the time of Prophet Muhammad (pbuh), which unbeknownst to many, has indubitably shaped the transformation not only in Muslim communities, but has also influenced global shifts in civilisation from multifarious aspects, for example, science and technology, arts, governance and social justice. This paper seeks to illustrate the significance of Islamic futures thinking as a foundation for progress in Muslim communities, by applying the qualitative methods of content analysis and engagements in focus group discussions. To this end, the study analyses data obtained from the exploration of Islamic texts, traditions and literatures on the Islamic perspectives of futures thinking. This paper advances the proposition that futures thinking has a profound basis in Islam due to the universal nature of the Islamic concepts of knowledge, the methods of addressing gradual and imminent change, its constant inspirations towards excellence and a justly balanced society, as well as Islamic ethics in foresight. Findings of this study highlight the importance of futures thinking as a capacity that must be developed in the Muslim world as part of the process towards long term social transformation.","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"16 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140744186","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}

{"title":"THE LEGAL CAPACITY (AL-AHLIYYAH) OF ARTIFICIAL INTELLIGENCE FROM AN ISLAMIC JURISPRUDENTIAL PERSPECTIVE","authors":"Miszairi Sitiris, Saheed Abdullahi Busari","doi":"10.33102/mjsl.vol12no1.453","DOIUrl":"https://doi.org/10.33102/mjsl.vol12no1.453","url":null,"abstract":"Capacity is the legal right and empowerment of a legal person to individual responsibility. A legal person has the right to social, economic, and political duties and responsibilities in the society to sue and be sued in the law court. However, the issue of artificial persons has been gaining attention in recent times, especially its legal capacity. This paper examines the legal capacity of Artificial Intelligence from Islamic jurisprudential perspective. For instance, legal and juristic issues remain around the legal capacity of humanoids like Sophia Robot which was granted the first full citizenship in Saudi Arabia. Does that citizenship translate to full rights and responsibility like a normal human? The study uses a qualitative method to employ the doctrinal approach of analyzing Islamic jurisprudential opinions on the legal personality of an artificial person. Although there are Islamic thresholds on minors and other interdicted persons, however, the study explores the extent of interpolating classical Islamic rulings of the legal capacity of certain corporations, entities, and interdicted persons on the artificial intelligence robot. The study found that an artificial intelligence robot does not have the complete traits to be considered for natural legal capacity. However, AI has the trait of artificial personality that is justified in Islamic jurisprudence. The vicarious tortious liability can be interpolated on the artificial personality of AI to ensure the protection of the public interest. Therefore, this study lays the groundwork for further studies in understanding how Islamic law can address the rights, responsibilities, and ethical considerations surrounding the use of AI, thereby facilitating the development of comprehensive, and religiously sensitive regulatory frameworks.","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"557 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140749526","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}

{"title":"THE UN ILC’S DRAFT CONCLUSIONS ON THE PEREMPTORY NORMS OF GENERAL INTERNATIONAL LAW: THE TALE OF THE ANNEX","authors":"D. Tladi","doi":"10.33102/mjsl.vol12no1.671","DOIUrl":"https://doi.org/10.33102/mjsl.vol12no1.671","url":null,"abstract":"This paper examines the implications of the General Assembly's failure to adopt a resolution on the International Law Commission's Draft Conclusions on Peremptory Norms (“Draft Conclusions”) during its seventy-seventh session. While the non-decision does not affect the legal status of the Draft Conclusions, it raises questions about its reception and the underlying reasons for the lack of resolution adoption. The inclusion of an Annex with a non-exhaustive list, particularly addressing the right to self-determination, led to opposition from a subset of States. Despite the strong pedigree of the norms in the Annex, dissenting voices, primarily questioning the status of certain norms, played a pivotal role in the non-decision. This paper contends that the dissenters' success in preventing the adoption of a resolution could prompt the International Law Commission to exercise greater caution in its future work. The Commission may become more inclined to avoid addressing sensitive issues, potentially leading to a tendency to seek the lowest common denominator in its outputs. The analysis delves into the potential impact on the Commission's approach and the broader implications for the development and acceptance of peremptory norms of general international law.                                                                                                                                                                                                                                                                                                                  ","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"23 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140360716","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}

{"title":"KEPERLEMBAGAAN SEKSYEN 498 KANUN KESEKSAAN: ANALISIS JURISPRUDENS WATAN","authors":"Wan Ahmad Fauzi Wan Husain","doi":"10.33102/mjsl.vol11no2.692","DOIUrl":"https://doi.org/10.33102/mjsl.vol11no2.692","url":null,"abstract":"While Muslims in Malaysia are not yet overcome by shock due to Nik Elin's lawsuit, the atmosphere is re-heated by the repeal of section 498 of the Penal Code by the recent Federal Court’s interpretation. Such development attracted the public to inquire more about the Federal Constitution, especially the position on Islamic law. Section 498 touches on criminal offences that punish men who entice married women with the intent to have illicit intercourse. This article aims to analyse the constitutionality of section 498 of the Penal Code viewed from Article 8(5)(a) and Article 11(5) of the Federal Constitution. The methodology of this study is doctrinal research using Watanic jurisprudence. Although this article touches on the interpretation of section 498 of the Penal Code, it is not intended to discuss the facts of the case in trial at the time this article was written. The analysis here also does not touch on whether the position of the Penal Code, being the existing law, is subject to Article 162(6). However, the repealing effect of section 498 has been duly analysed.  The findings show that the essence of section 498 is based on the teachings of Islam, and a similar provision is stipulated in the Law of the Pahang, Johor, and Perak Codes. It is mandatory for preserving personal law and upholding the principles of morality in accordance with customs and religious beliefs.    ABSTRAK Walaupun umat Islam di Malaysia masih belum reda dengan kejutan akibat tuntutan mahkamah Nik Elin, suasana kembali hangat dengan pemansuhan seksyen 498 Kanun Keseksaan oleh tafsiran Mahkamah Persekutuan baru-baru ini. Perkembangan itu menarik minat ramai orang untuk bertanya lebih lanjut tentang Perlembagaan Persekutuan, terutamanya kedudukan undang-undang Islam. Seksyen 498 menyentuh kesalahan jenayah yang menghukum lelaki yang menggoda wanita berkahwin dengan niat untuk melakukan persetubuhan luar nikah. Artikel ini bertujuan untuk menganalisis keperlembagaan seksyen 498 Kanun Keseksaan yang dilihat daripada Perkara 8(5)(a) dan Perkara 11(5) Perlembagaan Persekutuan. Metodologi kajian ini adalah penyelidikan doktrin menggunakan jurisprudens watan. Walaupun Artikel ini menyentuh tafsiran seksyen 498 Kanun Keseksaan, ia tidak bertujuan untuk membincangkan fakta kes dalam perbicaraan pada masa Artikel ini ditulis. Analisis di sini juga tidak menyentuh sama ada kedudukan Kanun Keseksaan sebagai undang-undang sedia ada, tertakluk kepada Perkara 162(6). Walau bagaimanapun, kesan pemansuhan seksyen 498 telah dianalisis dengan sewajarnya. Dapatan kajian menunjukkan intipati seksyen 498 adalah berlandaskan ajaran agama Islam, dan peruntukan yang sama termaktub dalam Hukum Kanun Pahang, Johor dan Perak. Adalah satu yang wajib untuk memelihara undang-undang diri dan menegakkan prinsip moral mengikut adat dan kepercayaan agama.","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":" 44","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139140002","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}

{"title":"NON-FUNGIBLE TOKENS AS A WAY TO PROTECT GLOBAL INTELLECTUAL PROPERTY","authors":"Matheus L. Puppe Magalhães","doi":"10.33102/mjsl.vol11no2.475","DOIUrl":"https://doi.org/10.33102/mjsl.vol11no2.475","url":null,"abstract":"Blockchain technology is increasingly being recognized worldwide as a cornerstone of security and stability in the digital realm. The Internet, often viewed as a seemingly chaotic, unpredictable, and insecure environment, is experiencing a significant paradigm shift thanks to disruptive innovations such as blockchains, which provide a robust mechanism to ensure the integrity of the global information flow. While the original purpose of this technology was to facilitate cryptocurrencies, its applications have since broadened, permeating law, business, and more recently, sectors like art and gaming. In this context, Non-Fungible Tokens (NFTs) are on the cusp of becoming a mainstream asset class. These unique digital assets, intricately tied to Intellectual Property, present an unexplored avenue for legal and business applications. This paper assesses the potential uses of NFTs for to protect global IP. The study further suggests an analogous interpretation of existing norms that regulate the connection with NFTs and local regulations, thus laying the groundwork for an initial self-regulatory framework. In conclusion, NFTs are poised to revolutionize IP protection globally. However, from a legal perspective, it also represents the necessity to develop a regulated self-regulatory system to frame such technology. As part of future research, we propose the creation of legal standards to accept and introduce NFTs as part of the IP protection laws.","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":" 23","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139141578","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}

{"title":"إحياءُ واستثمارُ الأراضي الْمَوات في ماليزيا من خلال التمويل الأصغر الإسلامي","authors":"M. Edris, Mohamed Sharif Bashir, Baidar Mohammed Mohammed Hasan","doi":"10.33102/mjsl.vol11no2.512","DOIUrl":"https://doi.org/10.33102/mjsl.vol11no2.512","url":null,"abstract":"This study aims to identify the revitalization and investment of abandoned land through Islamic microfinance in Malaysia, with a specific emphasis on the state of Negeri Sembilan. It discusses the concept of abandoned lands, examining methods for their revitalization and investment in accordance with the principles of Islamic law. In this regard, revitalizing and investing in abandoned land is posited as a solution to the financing problems faced by small and medium enterprises as well as enhance opportunities to increase the income of poor people in the Malaysian society. The study employed the descriptive analysis approach in demonstrating the importance of revitalizing and investing the abandoned land through Islamic microfinance approach which will boost the efforts of microfinance institutions in reducing poverty and overcoming the consequences of the COVID-19 pandemic. A key finding is that investing in abandoned land, in line with Shariah principles, offers an innovative approach to utilizing these lands for productive projects and reflects the importance of Islamic microfinance and its response to the requirements of revitalizing the abandoned land efficiently and effectively.   ملخص البحث تهدّفُ هذه الدَراسة إلى التعريف بإحياء الأرض الموات واستثمارها من خلال التمويل الأصغر الإسلامي في ماليزيا؛ وعلى وجه الخصوص في ولاية نجري سمبيلان، وتحاول مناقشة مفهوم الأرض الموات في الفقه وطرق إحيائها واستثمارها وفقاً للضوابط الشرعية في الفقه الإسلامي، وبهذا الاعتبار فإنَّ إحياء الأرض الموات واستثمارها سيوفر حلاً لمشكلات التمويل التي تواجهها المشروعات الصغيرة والمتوسطة، ويعزز من فرص زيادة دخل الفئات الفقيرة في المجتمع الماليزي، تعتمد الدّراسة على منهج التحليل الوصفي في بيان أهمية إحياء الأرض الموات واستثمارها ، والدور الذي يمكن أن تقوم به صيغ وأساليب التمويل الأصغر الإسلامي في إحياء الأرض الموات وتهيئتها للاستخدام الإنتاجي الذي سيعزز من جهود مؤسسات الإقراض الصغيرة أو صناديق دعم الفقراء الأهلية والرسمية في التقليل من الفقر، وتجاوز تداعيات ما بعد جائحة كوفيد-19 على محدودي الدخل. ومن النتائج التي توصلت إليها الدِّراسة أن استثمار الأراضي الموات وفقاً لمبادئ الشريعة الإسلامية يمثل مدخلاً بديلاً لتوظيف الأراضي واستغلالها في مشروعات إنتاجية، ويعكس أهمية التمويل الأصغر الإسلامي وتلبيته لمتطلبات إحياء الأرض الموات واستغلالها بكفاءة وفاعلية.","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":" 87","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139137607","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}

{"title":"KAJIAN ISU-ISU BERKAITAN PEMELIHARAAN AKIDAH DAN PEMIKIRAN UMAT ISLAM DI MALAYSIA","authors":"Mohd Norhusairi Mat Hussin, Mohd Zaid Daud, Ruzman Md Noor, Amalina Che Omar","doi":"10.33102/mjsl.vol11no2.454","DOIUrl":"https://doi.org/10.33102/mjsl.vol11no2.454","url":null,"abstract":"The Islamic community is presently confronted by several concerns pertaining to matters of faith and beliefs. The Malaysian government is increasingly concerned about various issues, including deviant teachings, apostasy, demands for human rights from specific groups and religious extremism. These can potentially lead towards the disruption of national security and the sanctity of the Islamic religion. As a result, the government is taking measures to curb and contain the development of these issues. This article investigates three distinct categories of behaviours that present substantial risks to the faith of the Muslim community. These include deviations in beliefs and ideas, issues on human rights, and the existence of extremist or radical groups that pose a threat to peace in Malaysia. Data for this study were obtained through library research and the application of content analysis involving thematic examination of issues relevant to subject matter. The study demonstrates that the current development of Islamic legislation in Malaysia is a continuous process of change aimed at upholding national security and unity through the framework of Islamic law. Moreover, there are multiple risks both domestically and internationally, encompassing concerns pertaining to the faith and beliefs of the Muslim community in Malaysia. These factors could potentially to create ambiguity and jeopardise the overall security and stability of society, particularly within the Muslim community.\u0000 \u0000Abstrak\u0000Masyarakat Islam kini berdepan dengan pelbagai isu akidah dan pemikiran yang semakin membimbangkan. Kerajaan Malaysia semakin prihatin terhadap isu-isu seperti ajaran sesat, murtad, tuntutan hak asasi daripada golongan-golongan tertentu, ekstremis agama. Hal ini berpotensi membawa kepada tergugatnya keamanan setempat dan kesucian agama Islam. Kesannya, kerajaan telah mengambil langkah bagi membendung dan mengawal situasi ini. Kajian ini menganalisis tiga ancaman utama kepada akidah masyarakat Islam dan institusi Islam iaitu berkaitan penyelewengan akidah dan pemikiran, isu tuntutan hak asasi manusia dan akhir sekali berkaitan kewujudan golongan ekstremis atau radikal yang mengancam keamanan di Malaysia. Data untuk kajian ini diperolehi melalui kajian perpustakaan dan metode analisis kandungan telah diaplikasikan dalam kajian ini melibatkan pendekatan tematik terhadap isu-isu tersebut. Kajian mendapati bahawa pembinaan undang-undang Islam di Malaysia pada hari ini adalah hasil reformasi yang berterusan dan usaha ini tidak pernah dihentikan untuk memastikan keamanan dan keharmonian negara terus terpelihara dalam acuan undang-undang Islam. Tambahan lagi, wujud pelbagai ancaman yang timbul dari dalam dan luar negara termasuk dalam isu akidah dan pemikiran umat Islam yang boleh menimbulkan kekeliruan dan mengancam keamanan serta kestabilan masyarakat khususnya umat Islam. Selain itu, terdapat pelbagai risiko di dalam dan di luar negara, merangkumi kebimbangan yang berka","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"136 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138598716","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}

{"title":"استثمارات الشركات الأجنبية الوافدة: اللوائح القانونية والآثار السياسية في تحقيق التنمية الاقتصادية في دولة الإمارات العربية المتحدة","authors":"Rashed Naser Mussabah Khamees Al-Kalbani, Nisar Mohammad Ahmad, Mohamad Zaharuddin Zakaria","doi":"10.33102/mjsl.vol11no2.400","DOIUrl":"https://doi.org/10.33102/mjsl.vol11no2.400","url":null,"abstract":"This study aimed to study the legal regulation and political impacts of foreign investments on the economic development of the United Arab Emirates (UAE). It addresses key questions related to the extent of foreign investments in the UAE, legal regulations of foreign investment, the sectors that attract the most investment, and how these investments contribute to overall economic growth through political impacts to the country. In addition, the study examines the direct effects of foreign investments on job creation, technology transfer and skills development in the UAE. It also explores the policy frameworks and measures implemented by the UAE government to attract and encourage foreign investments, as well as the challenges and barriers that hinder its full potential. By conducting a descriptive applied study, this study aims to emphasize the importance of foreign investments and provide insights to policy makers and stakeholders. The study highlights the importance of these investments in achieving sustainable economic development in the UAE. Despite concerns about external financing and its possible negative impact on sovereignty, decision-makers in many countries have recognized the decisive role of foreign investments in their economies. The study concluded that the UAE has succeeded in attracting foreign investments through industrial centres, incentives, advanced infrastructure and a favorable business climate. The country's commitment to openness and free movement of capital contributed to its attractiveness as an investment destination. This study found that foreign direct financing is diverse, benefiting various sectors within the UAE economy and subject to specific legal regulations and political impacts for more economic achievement. While portfolio and other forms of investments are often tied to specific sectors, direct financing has a wider distribution. The results also indicate that the UAE aims to boost investor confidence and expand investments outside the financial sector in tolerant with legal regulations. The study emphasizes the need for measures that promote investments across various economic activities, including real estate. This commitment to openness and capital movement significantly enhances its appeal as an investment hub while abiding by legal frameworks, reinforcing the nation's stance on fostering economic growth through foreign investments.   ملخص البحث هدفت هذه الدراسة إلى دراسة التنظيمات القانونية والآثار السياسية للاستثمارات الأجنبية على التنمية الاقتصادية في دولة الإمارات العربية المتحدة .يتناول البحث أسئلة رئيسية تتعلق بمدى الاستثمارات الأجنبية في الإمارات والتنظيمات القانونية للاستثمارات الأجنبية، والقطاعات التي تجذب أكبر قدر من الاستثمارات، وكيفية مساهمة هذه الاستثمارات في النمو الاقتصادي العام من خلال الآثار السياسية على البلاد. بالإضافة إلى ذلك، تبحث الدراسة في الآثار المباشرة للاستثمارات الأجنبية على خلق فرص العمل ونقل التكنولوجيا وتطوير المهارات في الإمارات. كما تستكشف الدراسة الأطر السياسية والتداب","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139188010","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}

{"title":"CASH WAQF LINKED DINFRA (CWL-FRA) AS WAQF INNOVATION MODEL INTEGRATED WITH INFRASTRUCTURE INSTRUMENT FOR NATIONAL ECONOMIC RECOVERY AND SUSTAINABILITY","authors":"Rusdiana Priatna Wijaya","doi":"10.33102/mjsl.vol11no2.422","DOIUrl":"https://doi.org/10.33102/mjsl.vol11no2.422","url":null,"abstract":"Cash waqf is a form of contemporary waqf that has great potential in the modern world. In Indonesia, despite its potential of 180 trillion per year, cash waqf collection, management, and distribution are not optimal. Nonetheless, the infrastructure sector in Indonesia faces obstacles, particularly in terms of funding. The innovation of the CWLFRA (Cash Waqf Linked DINFRA) model is, therefore, a solution to these two issues, as the proposed model is the result of an integration between efforts to optimize cash waqf and infrastructure financing via the Infrastructure Investment Fund (DINFRA). In this CWL-FRA innovation, waqf funds will be allocated to the mauquf 'alaih from the profits of infrastructure investment funds, which will become a source of long-term usable assets. As a result, the purpose of this academic paper is to develop a model capable of bolstering the ecosystem of Islamic social financial institutions and maximizing the potential achievement of cash waqf in Indonesia as a means of implementing sustainable finance and an effective instrument in reviving national economy through infrastructure development. In addition, this study seeks to determine the viability of the potential for developing the productivity of cash waqf in an effort to increase the effectiveness of achieving cash waqf to support economic sustainability with infrastructure potential. Nine respondents representing academicians and expert practitioners from both the waqf and infrastructure sectors filled out questionnaires to collect data. According to the results of the Delphi test, all respondents believed that there was a relationship between the Strengths, Weaknesses, Opportunities and Threats (SWOT) indicators, indicating that this model is implementable. Moreover, based on the level of agreement of respondents, this model has the potential to contribute positively to national economic recovery, become a sustainable source of social funds, optimize the potential of waqf in Indonesia, strengthen the ecosystem of waqf social finance institutions, and improve the quality of management and maintenance of Indonesia's infrastructure. These findings demonstrate that integrating financial waqf with existing public infrastructure could positively affect the sustainability of national economic development. The novel aspect of this paper is the proposed cash waqf management system, which can serve as a useful reference for policymakers and waqf institutions seeking to develop a more effective waqf concept in terms of collection, administration, and distribution. Consequently, this study aims to demonstrate the potential for cash waqf, which can be integrated with DINFRA's product through the innovation of the CWL-FRA model, to become an investment instrument and offer a diversity of options to the waqf community.","PeriodicalId":34345,"journal":{"name":"Malaysian Journal of Syariah and Law","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138624229","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}