Articles
The Critical Shariah Issues of Sukuk
In view of the importance of sukuk as a dominant Islamic capital market instrument, and the enormous size of their market share within the Islamic finance industry, deliberation on their Shariah issues acquires special importance, especially in light of the controversies harboring some of them.
Penalty and Compensation in Financial Commitments - A Critical Sharia Review
The aim of this paper is to critically review the position of Shariah and contemporary ijtihād on penalty provisions in financial commitments. It is also to show that some relevant
Shariah Compliance Status and Value of Analysts' Recommendation Revisions: Evidence from Malaysia
| This study examines the effect of 1096 analyst recommendation revisions on prices of Shariah-compliant and Shariah non-compliant listed securities in Bursa Malaysia over the period 2005-2016. The study finds that while stocks added-to-buy had positive abnormal returns, the stocks added-to-sell and remove-from-buy had negative abnormal returns in short- and long-term horizons. This finding shows that analysts’ recommendation revisions carry valuable information. |
THE EVOLUTION AND INTENSITY OF NON-TARIFF MEASURES ON IMPORTS IN GCC
| This study examines the effect of 1096 analyst recommendation revisions on prices of Shariah-compliant and Shariah non-compliant listed securities in Bursa Malaysia over the period 2005-2016. The study finds that while stocks added-to-buy had positive abnormal returns, the stocks added-to-sell and remove-from-buy had negative abnormal returns in short- and long-term horizons. This finding shows that analysts’ recommendation revisions carry valuable information. |
Some Early Definitions of Tasawwuf: Exploring the Centrality of Abu Yazīd al-Bistāmi in its History
| The purpose of this article is to present some early definitions of taṣawwuf, uttered by a Sufi who lived before the end of the first half of the third/ninth century known by his paidonymic Abū Yazīd al-Bistāmī (161AH–234AH). |
The Semantics of Gratitude (Shukr) in the Qur'an
Since the publication of Toshihiko Izutsu’s The Structure of Ethical Terms in the Qurʾan in 1959, scholars of
Deferment of Both Counter Values in Financial Transactions; Maqasid Analysis and its Impacts on Money Exchanges
Shariah texts forbid deferment of both counter values in the commutative transactions. However, it is obvious that contemporary juristic opinions abide by this prohibition without appreciating its Shariah objectives. This is evident as some of these opinions unjustifiably differentiate between similar applications, or they violate the prohibition by allowing stratagems that eventually lead to having both values deferred.
The Relevance of Shura In Promoting Shared Prosperity in Developed And Developing Countries: ICIS 2021
| The issue of greater inequalities and social exclusion reckoned to be the result of economic growth led the World Bank to set the new goal, to end extreme poverty and promote shared prosperity. Interestingly, the approach of the contemporary solution is largely in consonance with the maqasid or objectives of the Shari’ah. |
Foreign trade, education, and innovative performance: A multilevel analysis
| This study analyses the innovative performance of 5,273 companies across 64 different economic sectors and 32 different regions in Colombia. We assess the effects of education and open economy variables on the innovative performance of firms by analyzing firm, sectoral, and regional level determinants. The study takes the multilevel approach of the innovation process considering the structure and behavior of innovation systems in developing countries. |