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Article
Publication date: 14 May 2018

Issa Khan, Noor Naemah Binti Abdul Rahman, Mohd Yakub @ Zulkifli Bin Mohd Yusoff, Mohd Roslan Mohd Nor and Kamaruzaman Bin Noordin

This study aims to find out the problems of family Takaful (Islamic Life Insurance) operations in Bangladesh and proposes strategies to overcome the problems.

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Abstract

Purpose

This study aims to find out the problems of family Takaful (Islamic Life Insurance) operations in Bangladesh and proposes strategies to overcome the problems.

Design/methodology/approach

Qualitative data were collected through interviews with 32 respondents from two family Takaful operators in Dhaka, Bangladesh.

Findings

The study finds a number of problems of family Takaful which relate to the government, Takaful company and the Shariah board. Lack of governing guidelines for Takaful companies in Bangladesh is causing numerous operational problems of family Takaful. To overcome these obstacles, the government should propose separate Act for Takaful. This requires support from the stakeholders along with Islamic scholars in the country.

Practical implications

It is anticipated that the findings and suggestions of the study will assist the policymakers in improving the situation of family Takaful companies particularly in Bangladesh.

Social implications

If the proposed suggestions are implemented in Takaful companies, the problems facing Takaful will likely be solved and more people will take part in Takaful. This would contribute to developing the country economically, raise Islamic values and foster peace and harmony in the society.

Originality/value

Mainly, this study is based on the primary research that has been conducted in family Takaful companies in Bangladesh.

Details

International Journal of Ethics and Systems, vol. 34 no. 2
Type: Research Article
ISSN: 0828-8666

Keywords

Available. Open Access. Open Access
Article
Publication date: 22 April 2022

Ameen Ahmed Abdullah Qasem Al-Nahari, Abu Talib Mohammad Monawer, Luqman Bin Haji Abdullah, Abdul Karim Bin Ali, Noor Naemah Binti Abdul Rahman and Meguellati Achour

This paper aims to scrutinize the misconceptions about maqāṣid al-Sharīʿah (objectives of Islamic law) that complicate its actualization, particularly in Islamic finance.

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Abstract

Purpose

This paper aims to scrutinize the misconceptions about maqāṣid al-Sharīʿah (objectives of Islamic law) that complicate its actualization, particularly in Islamic finance.

Design/methodology/approach

This study adopts a qualitative inductive method to identify the flaws in understanding maqāṣid al-Sharīʿah vis-à-vis Islamic finance. It uses the views of classical and modern maqāṣid scholars to critically examine the flaws.

Findings

This study concludes that the five objectives of the Sharīʿah constitute the framework of maṣlaḥah (well-being). The levels of maṣlaḥah ― namely ḍarūriyyāt (essentials), ḥājiyyāt (needs) and taḥsīniyyāt (embellishments) ― are the categories of the means to ends. The demand for financial products falls under the ḥājiyyāt and taḥsīniyyāt categories, not ḍarūriyyāt. The maqāṣid (objectives) are derived from aḥkām (provisions) being verified by the parameters, while aḥkām are guided by maqāṣid.

Research limitations/implications

This study recommends further research to theorize the concepts of ḍarūriyyāt, ḥājiyyāt, taḥsīniyyat and mukammilāt (complements); to harmonize the maqāṣid with their essential elements and to formulate a conceptual framework for actualizing maqāṣid al-Sharīʿah in Islamic finance.

Practical implications

This paper will improve perceptions and bridge gaps between the understanding of maqāṣid theory and existing practices. It suggests that instead of ḍarūriyyāt, Islamic financial institutions (IFIs) should refer to ḥājiyyāt and taḥsīniyyāt.

Originality/value

This paper identifies and clarifies the misconceptions about maqāṣid al-Sharīʿah vis-à-vis Islamic finance in the existing literature. The findings align with the views of leading maqāṣid scholars in understanding the idea.

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

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Article
Publication date: 2 January 2025

Muhammad Ikhlas Rosele, Abdul Muneem, Abdul Karim Ali, Azizi Che Seman, Luqman Haji Abdullah, Noor Naemah Abdul Rahman and Mohd Edil Abd Sukor

The purpose of this study is to propose and develop a zakat model for digital assets from the Sharīʿah perspective.

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Abstract

Purpose

The purpose of this study is to propose and develop a zakat model for digital assets from the Sharīʿah perspective.

Design/methodology/approach

This research adopts a qualitative research method while studying the literature thoroughly, and it analyzes the data through an exploratory research approach to propose a zakat model for the digital assets.

Findings

This research aims to develop a zakat model for digital assets within the framework of Sharīʿah. Using a qualitative research method, the study thoroughly examines existing literature and uses an exploratory research approach to propose this zakat model. The findings suggest that digital assets hold the potential to be considered for zakat in the contemporary digital age. Previous studies indicate that both commodity-based and currency-based digital assets meet the criteria for zakat imposition. Given zakat’s significant impact on socioeconomic development, it is imperative to carefully manage these assets to maximize their potential benefits. However, variations in interpretations by different jurisdictions and Sharīʿah scholars regarding the understanding and classification of digital assets lead to ongoing scrutiny from legal and religious perspectives. This research aims to contribute to the discourse by proposing a zakat model for digital assets and identifying potential assets eligible for zakat.

Originality/value

This research seems to be the pioneer in providing a zakat model for digital assets, combining different segments of digital assets.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 21 December 2021

Abu Talib Mohammad Monawer, Noor Naemah Abdul Rahman, Ameen Ahmed Abdullah Qasem Al-‎Nahari, Luqman Haji Abdullah, Abdul Karim Ali and Achour Meguellati

This paper aims to formulate a conceptual framework that will facilitate the actualization of maqāṣid al-Sharīʿah in product design and consumption within Islamic financial…

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Abstract

Purpose

This paper aims to formulate a conceptual framework that will facilitate the actualization of maqāṣid al-Sharīʿah in product design and consumption within Islamic financial institutions (IFIs).

Design/methodology/approach

This paper relies on the classical and contemporary literature on maqāṣid al-Sharīʿah and Islamic finance and adopts a qualitative content analysis method and an inductive approach to outline the constituent elements that formulate the framework.

Findings

This study determines six vital constituents of maqāṣid al-Sharīʿah, namely, parameters of maqāṣid, particular objectives, appropriate means, micro provisions, level of need and legal maxims to develop a conceptual framework of actualizing maqāṣid al-Sharīʿah in Islamic finance. The framework covers the following three stages: identification of maqāṣid, operationalization of maqāṣid in product design and consumption based on maqāṣid.

Research limitations/implications

This paper proposes a conceptual framework without investigating the practice of any particular industry or products. Further research would focus on formulating a practical framework based on a focus group discussion with industry experts, elaborating the parameters of maqāṣid, scrutinizing the maqāṣid available in the literature by the parameters of maqāṣid and assessing the IFIs’ products and services using the proposed framework.

Practical implications

This paper provides insights into the importance of maqāṣid elements and the effects of overlooking them on IFIs and customers’ product consumption. Furthermore, a major implication of the proposed framework is to learn how to use the maqāṣid approach as the baseline for designing new financial products.

Originality/value

The novelty of this paper lies in its pioneering attempt of harmonizing all essential maqāṣid elements and using them as constituents to formulate a comprehensive framework that actualizes maqāṣid al-Sharīʿah in the Islamic finance industry.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 15 no. 5
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 11 November 2013

Noor Jamaliah Ibrahim, Mohd Yamani Idna Idris, Zaidi Razak and Noor Naemah Abdul Rahman

The purpose of this paper is to provide a structural overview of speech recognition system for developing Quranic verse recitation recognition with tajweed checking rules…

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Abstract

Purpose

The purpose of this paper is to provide a structural overview of speech recognition system for developing Quranic verse recitation recognition with tajweed checking rules function. This function has been introduced, due to support the existing and manual method of talaqqi and musyafahah method in Quranic learning process, which described as face-to-face learning process between students and teachers. Here, the process of listening, correction and repetition of the correct Al-Quran recitation took place in real-time condition. However, this method is believed to become less effective and unattractive to be implemented, especially towards the young Muslim generation who are more attracted to the latest technology.

Design/methodology/approach

This paper focuses on the development of software prototype, mainly for developing an automated Tajweed checking rules engine, purposely for Quranic learning. It has been implemented and tested towards the j-QAF students at primary school in Malaysia.

Findings

The paper provides empirical insight about the viability and implementation of Mel-frequency cepstral coefficients (MFCC) algorithm of feature extraction technique and hidden Markov model (HMM) classification for recognition part, with the results of recognition rate reached to 91.95 percent (ayates) and 86.41 percent (phonemes), after been tested on sourate Al-Fatihah.

Originality/value

Based on the result, proved that the engine has a potential to be used as an educational tool, which helps the students read Al-Quran better, even without the presence of teachers (Mudarris)/parents to monitor them. Automated system with Tajweed checking rules capability functions could be another alternative due to support the existing method of manual skills of Quranic learning process, without denying the main role of teachers in teaching Al-Quran.

Details

Multicultural Education & Technology Journal, vol. 7 no. 4
Type: Research Article
ISSN: 1750-497X

Keywords

Available. Open Access. Open Access
Article
Publication date: 5 September 2022

Beebee Salma Sairally

243

Abstract

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 2
Type: Research Article
ISSN: 0128-1976

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