Abdulbari Mashal, Amer Hajal, Om Kalthoum Majoul and Mir Riaz Ansary
This paper aims to investigate sale with the temporary exclusion of usufruct, a format debated in classical Islamic jurisprudence. More specifically, it examines the application…
Abstract
Purpose
This paper aims to investigate sale with the temporary exclusion of usufruct, a format debated in classical Islamic jurisprudence. More specifically, it examines the application of this sale format in the diminishing partnership arrangement used by American Finance House LARIBA to finance house purchases. It analyzes the Sharīʿah issues and assesses the risks involved.
Design/methodology/approach
The research is qualitative, surveying and critically analyzing classical fiqh literature and contemporary juristic resolutions, as well as LARIBA’s financing documents. Finally, it systematically surveys the associated risk factors, first qualitatively, and then by quantifying them.
Findings
The research concludes that sale with the temporary exclusion of usufruct is a valid contract in Islamic law. When the usufruct is priced at market rate, the financing arrangement is genuinely Islamic and brings added value. Moreover, it is very effective in addressing risks for Islamic banks, particularly in countries with legal systems not designed to accommodate Islamic finance.
Originality/value
This study systematically examines all aspects of a contract that has not received sufficient academic attention, that has been underutilized by the Islamic finance industry and that is more fitting for implementation than many of the contracts currently being used.
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Pakistan's present war against extremists has many folds and sheds. The country's initial participation in the Afghan War in 1979 later gave birth to different extremist trends in…
Abstract
Pakistan's present war against extremists has many folds and sheds. The country's initial participation in the Afghan War in 1979 later gave birth to different extremist trends in the country. State patronage of the extremist Wahabi Islamists during the Afghan jihad opened another conflict in Pakistan, and things became more complicated. The combination of external and internal factors gave birth to the worst kind of conflict, which now has not only become dangerous for the country's own existence but also a major threat for global peace. The Afghan jihad initially started as a war against Soviet occupation and later became the hub of global jihad-war against infidels.
This chapter analyzes how external factors promoted internal contradictions in Pakistan due to which the country became not only an exporter of jihadis for the world but also the worst kind of sectarian conflicts, including. Shia–Sunni, Deobandi–Wahabi clashes, entered into in the past two decades. Such a strong link exists with Pakistan's official support to global jihad. Draft sectarian groups now head to head with their opponents have killed thousands of members of rival sectors, have strong support from external sympathizers, and have spread in the country. The well planned terrorist activities of these groups reflect the fact that support to these groups in the past is now leading to a severe crisis in Pakistan. The nexuses of these indigenous extremists like Lashkar-e-Jhangvi, Lashkar-e-Taiba, Tehrik-e-Taliban Pakistan, and Hizb-ul-Mujahideen with external terrorist organizations like Al-Qaeda, the Taliban, and Islamic Movement of Uzbekistan of Tahir Yuldasher Chechen Guerilla War has led to several bloody clashes in the country and outside.
Ahmad Usman Shahid, Hafiza Sobia Tufail, Hafiz Yasir Ali and Joane Jonathan
This paper aims to contribute to the corporate social responsibility (CSR) literature by providing holistic insights into financial analysts’ personal values, perceived…
Abstract
Purpose
This paper aims to contribute to the corporate social responsibility (CSR) literature by providing holistic insights into financial analysts’ personal values, perceived behavioural risk and investment decisions relating to the social aspects of CSR. Specifically, this paper examines whether analysts’ personal values, such as religiosity, spirituality and social consciousness, influence their investment decisions relating to a highly profitable firm that is alleged of exploiting labour rights. This study also examines the mediating role of analysts’ perceived behavioural risk between personal values and investment decisions.
Design/methodology/approach
Data were collected, using a scenario-based survey, from 145 financial analysts at both public and private companies in Pakistan.
Findings
The results show that analysts’ values, including religiosity, spirituality and social consciousness, have a significant negative impact on their investment decisions. The results also demonstrate that perceived behavioural risk mediates the relationship between these values and investment decisions.
Practical implications
This study has implications for the globalised business world, regulators and researchers for incorporating personal and ethical values into risk and investment decision-making.
Originality/value
This study establishes the importance of analysts’ personal values in risky investment decision-making.
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Manas Paul, Parijat Upadhyay and Yogesh K. Dwivedi
This paper posits a critical analysis of digitalisation initiatives of emerging economies with a focus on India. It suggests granular policy measures towards realising the dream…
Abstract
Purpose
This paper posits a critical analysis of digitalisation initiatives of emerging economies with a focus on India. It suggests granular policy measures towards realising the dream of a competitive, empowered and knowledge-based society. To this extent, the paper juxtaposes and compares policy measures undertaken by several governments to facilitate digitalisation in their country. The policy measures embarked upon have been critically analysed in terms of their relevance, challenges for their implementation and adoption at the back of the prevailing social and economic fabric of the country. At the same time, attempts have been made to benchmark it against the best practice standards weighed in by the industry studies. The paper has also laid down a robust agenda for future research that can be replicated for any country.
Design/methodology/approach
This is a viewpoint study based upon public data and documentary sources within India as well as publications of several countries and international agencies. Research projects of numerous multinational companies working in the area of digitalisation has been accessed and analysed as well in the study.
Findings
The findings of this study have policy implications for governments in several emerging economies who have embarked on the path of digitising their economy with the larger objectives of reaping its larger benefits but have to deal with the challenges of inadequate resources to create an effective ecosystem to facilitate such a transition.
Originality/value
The study highlights the implications of challenges of gaps of physical and socioeconomic infrastructure in driving digitalisation, highlighting granular policy measures for public managers and policy makers to address them.
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Chetna Sachdeva and Tripti Singh
Despite the research conducted on transformational leadership has contributed to our understanding of its impact on non-green employee outcomes, there is still a lack of…
Abstract
Purpose
Despite the research conducted on transformational leadership has contributed to our understanding of its impact on non-green employee outcomes, there is still a lack of comprehension regarding the influence of environment-specific transformational leadership, also known as green transformational leadership (GTL), on employee green outcomes and the underlying mechanisms that drive this relationship. Thus, to address this gap, this study aims to examine the effects of GTL on pro-environmental behaviour (PEB) among employees working in three- to five-star hotels in India. The study also aims to investigate the potential mediating role of green human resource management (GHRM) and the moderating effect of environmental concern (EC) on the relationship between GHRM and PEB.
Design/methodology/approach
The study collected data from 181 employees working in various 3–5-star hotels operating in India. Structural equation modelling using Smart PLS-4 and SPSS PROCESS MACRO (Model 14) were used to test the hypotheses.
Findings
The results validated the significant positive impact of GTL on PEB. The findings suggest a significant mediating effect of GHRM in the GTL–PEB relationship, and EC negatively moderated the indirect effect of GTL on PEB through GHRM.
Practical implications
The findings suggest that GTL can have a positive impact on employee green outcomes in the hotel industry. The study provides useful insights for policymakers in the hospitality sector, specifically hotels.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine the relationships between GTL, GHRM, EC and PEB using empirical data from hotels in India. The study contributes to the growing body of research on green leadership and employee green outcomes.
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Rabia Naguib and Muznah Madeeha
Despite several policies in the Arab Gulf States aimed at promoting women’s empowerment through employment, women’s career progress has not met the expected gains. Workplace…
Abstract
Purpose
Despite several policies in the Arab Gulf States aimed at promoting women’s empowerment through employment, women’s career progress has not met the expected gains. Workplace empowerment is a critical aspect of women’s economic empowerment. Therefore, this paper aims to investigate the factors that contribute to workplace empowerment for women in the Qatari public sector.
Design/methodology/approach
This research uses a mixed-methods approach to explore workplace empowerment among female civil servants in the State of Qatar. The study combines surveys (N = 310) and interviews (N = 30) and uses an inductive thematic approach that considers women’s narratives as the primary source of knowledge construction.
Findings
The authors’ findings strongly suggest that perception-related factors have a more significant impact on workplace empowerment than structural ones. The results indicate that feelings of disempowerment are influenced by perceptions of gender-based discrimination, poor relationships with supervisors and dissatisfaction with work–life balance. Women feel empowered when they have access to decision-making opportunities and perceive that their workplace supports their professional growth and advancement.
Research limitations/implications
Although this paper focuses solely on women’s perceptions, additional research is necessary to compare the experiences of both men and women regarding workplace empowerment. While individual and organizational factors were examined in this paper, future studies should also consider societal factors. The results highlight the importance of equal and supportive organizational practices and cultures to foster empowerment among women in the workplace, providing valuable insights for policymakers.
Originality/value
This paper addresses a critical research gap on the intersection of gender, work and management in the Middle East. It responds to the need for more diverse contextual research on Arab women’s work experiences and provides methodological diversity by using an exploratory, mixed-methods design with a grounded approach. The study highlights the interaction between structural and psychological factors, emphasizing the gap between policies and resources and women’s lived experiences and perceptions of workplace empowerment.