International Journal of Shari'ah and Corporate Governance Research
Shari'ah and Corporate Governance Society [Affiliated Societies]
EQUALIZATION AND EMPOWERMENT CULTURE OF WOMEN IN THE QUR’AN
Let's hear, people, brothers, and sisters. Human beings are the most truthful of all things on the earth. Nothing is above them. Among people, women are the most compassionate. Half of the world's population are women. Women are not simply beings who give birth to men, women, and those of a third gender. All men, women, and those of a third gender are one community. The entirety of human society trusts in various religions, folk religions, cultures, thoughts, and philosophies. All faiths have considered women as disregarded, obnoxious, incompetent, and sinful doers. They have been confined to women within four walls and have dominated them for a very long time. Only the divine and religious book, the Qur’an, has given women equality, empowerment, and dignity. Women have a long, strong, and proud history in human civilization. They are the chief mothers of world civilization. From the ground to the sky, women have worked as the founders of every society. Today, the world's superpowers do not desire full and equal women empowerment. They talk about women’s leadership at the round table but do not expect it in practice. Only the Qur’an desires to equalize and empower women from the beginning of human creation and livelihood on earth. This paper indicates the theological aspect and may be discussed as an academic study. No other religions or divine books foresee that women would lead all sectors of the world as men do. This paper attempts to prove that the Qur’an has fostered a culture of equalization and empowerment of women in all sectors of the earth.
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper
Politics, Economics, Education, Society and Culture.
The paper asserts that Islam, as defined by the Quran and Ahsanool Hadith, advocates for equal rights and leadership opportunities for both men and women, challenging patriarchal interpretations. It highlights women's historical leadership roles, especially in the early stages of civilization, with economic activities in their hands. The author critiques classical exegesis for perpetuating a patriarchal and misogynistic system and seeks to reinterpret Quranic teachings to establish gender equality in leadership. The text argues that men and women are equal in their capabilities and contributions, with women performing unique roles, such as childbearing and nurturing, that men do not share. The paper cites Quranic verses, Ahsanul Hadith, Ijma, and Qiyas, to support the claim that women can lead in various sectors independently, including society, education, family, economy, Culture, and religion. It applauds contemporary Muslim societies where women's leadership is acknowledged. The author strongly criticizes groups like the Taliban, considering them divergent from Quranic teachings. The paper concludes by advocating for women's leadership as a lawful and necessary demand, expressing hope that women can lead globally for future peace—a prospect aligned with Quranic ideals. The research aims to rediscover and promote women's leadership in Islam, emphasizing its compatibility with Quranic principles and challenging patriarchal interpretations.
Leadership, Society, Politics, Economics, Education, Culture.
THE EFFECTS OF SHARIAH SUPERVISORY BOARD CHARACTERISTICS AND THE RISK-TAKING AMONG ISLAMIC FINANCING INSTITUTIONS IN BANGLADESH
The study aims to examine the influences of Shariah Supervisory Board (SSB) characteristics and risk-taking among Islamic Financial Institutions (IFIs) in Bangladesh. The study conducts dynamic short panel data regarding the annual report of quoted 14 IFIs in Bangladesh from 2013 to 2018. The study has shown the first and second lag of dependent variables and applied them under the dynamic GMM model in Stata software. Risk-taking is the most prejudicial issue that needs to be justified by findings. The hypothesis result of SSB size is positive and insignificant due to its size. It means SSB is less essential to reducing the risk-taking of IFIs in Bangladesh. The study also finds that the positive result of scholars in SSB is put in the right place that supports reducing excess risk-taking. It could be a valuable source of knowledge for reducing risk-taking on the risk committee. JEL Classification Codes: G34.
Islamic Financing Institutions, Risk Taking, Shariah Supervisor Board
Copyright (c) 2021 Md. Mohidul Islam, Abul Bashar Bhuiyan, Aza Azlina Md Kassim, Salina Rasli
THE CORPORATE GOVERNANCE CHARACTERISTICS AND RISK-TAKING IN THE ISLAMIC FINANCIAL INSTITUTIONS: A THEORETICAL REVIEW
The present study intends to examine existing literature and summarized the effects of the corporate governance characteristics on risk-taking and justified with existing most relevant theories in the Islamic financing system. The study extracted available literature from Google Scholar, ProQuest, and Scopus as well as other online data-based. The theoretical review findings summarized that there are two theories such as agency theory and stakeholder theory are considered most relevant for underpinning to justify the literature summary of this study. Moreover, the agency theory explains the role of corporate governance characteristics on the risk-taking of IFIs. The present study also shows the stakeholder theory paradigm that, influences the creates effective measurement of risk-taking and the stakeholders which leads to insolvency, economic collapse, liquidity shortage, financial institution corruption, financial institution scandal, enterprise fall, and monetary instability even misunderstanding amongst the stakeholders that lead to credit risk, liquidity. The study recommendations will be used to develop a research framework to examine relationships between corporate governance characteristics and risk-taking based on empirical data and the findings could be a valuable source of knowledge for policymakers and regulators in the Islamic financial services sectors in the world.
Corporate Governance Characteristics, Agency Theory, Stakeholder Theory, Risk Taking.
FINANCIAL PERFORMANCE OF ISLAMIC BANKING IN NIGERIA: A CAMEL ANALYSIS OF JAIZ BANK PLC
Islamic banking started on a full-scale in Nigeria with the establishment of Jaiz bank which received its approval-in-principle from the Central Bank of Nigeria in 2011. As a non-interest bank, the bank has over the years, managed to compete with well-established conventional banks in the country in the area of financial intermediation. The question however is how the bank has been faring since its establishment in terms of financial performance. This study, therefore, assessed the performance of Jaiz Bank, for nine years from 2012 to 2020. Data were collected from Annual Reports of the Bank and financial ratio analysis was conducted within the framework of CAMEL. The study found that the bank performed averagely well in terms of capital adequacy, asset quality, earnings quality and liquidity during the period under consideration though with some managerial inefficiency. The conclusion was that the bank is in a good position to withstand an unexpected financial crisis. It was therefore recommended that the bank management should be more efficient in its financial intermediation function as this will solidify its position in the face of future uncertainties. JEL Classification Codes: G21, L25.
Banking, Capital adequacy, Earnings, Islamic, Nigeria, Performance.
Copyright (c) 2021 Abdulrazaq T. Jimoh, John A. Attah, Falilat A. Abdul
THE ISLAMIC ECONOMICS PHILOSOPHY AND APPLICATION REALITY IN THE EXISTING ISLAMIC ECONOMIC ACTIVITIES IN THE WORLD
Islam offers the complete code of human life. It is applicable in every sphere of life, whether business, service or any other occupations. Islamic Economic philosophy simply expounds or refers to philosophical activity within the Islamic paradigm. The main direction of Islamic philosophy provides a complete way of life based on al-Adl and al-Ihsan. The discussion on Islamic economic philosophy issues had started earlier and flourished when Muslim scholars dominated the world scientific development tradition. However, the economic issues are mainly solved by different branches and schools of economics thoughts. Therefore, this paper has an attempt look into the philosophical issues in the area Islamic economics and its comprehensive application in the existing economyall over the world. It is a purely descriptive presentation on the issues of Islamic economic philosophy. The study findings revealed that Islamic economic has a strong philosophical foundation where socioeconomic development can be done based on al-Adl and al-Ihsan. The study also concluded that al-Adl and al-Ihsan would be establish while economic life is directed by not only material motives but also consent of Allah and craving for happy eternal life in the hereafter.
Islamic Economics, Islamic Economics Philosohpy, Al-Adl, Al-Ihsan.
Copyright (c) 2020 Abul Bashar Bhuiyan, Abdul Ghafar Ismail, Mohd Zakhiri Bin Nor, Md. Jafor Ali, Mohammad Solaiman
ISLAMIC ECONOMICS METHODOLOGY PATTERNS OF REASONING AND THE STRUCTURE OF THEORIES
In fact, the Islamic economy is a framework that has been extracted from the axiomatic scripture revealed by Allah Almighty S.W.T (The Holy Quran) and religious practices established by Muhammad SAW (Sunnah) to study contemporary economic phenomenon as per Islamic commercial jurisprudence confronting issues like employment, treatment of property, money, production and distribution, taxes, loans, interest (Riba) stability of prices, equitable distribution, growth rate, productivity, consumption of goods and services etc. that make sure maximum benefit (Falah) in a society or at large to the humanity (Ummah). The Islamic economy is not really a new discourse on whether its roots have evolved since the early days of Islamic civilization. Discussions on economic issues from an Islamic perspective started early and have flourished in the Islamic golden age since. However, economic issues are mainly solved by different branches and schools of economics. This raises a wide variety of methodological issues and several problems have been central to methodological reflection concerning economics. However, not much research attempts have been done to survey the origin of Islamic economic thought and portray its evolution towards becoming a discipline in contemporary times with its own body of knowledge and methodology. Therefore, this study is likely to fill this gap and chart the future direction of the discipline will also be highlighted with some evaluations of the current state of the arts.
Islamic Economics, Islamic Economics Methodological & Islamic civilization.
Copyright (c) 2020 Abul Bashar Bhuiyan, Abdul Ghafar Ismail, Abd Halim Mohd Noor, Md. Jafor Ali, Mohammad Solaiman
THE ISSUES AND CHALLENGES OF SHARIAH HARMONIZATION OF THE CROSS BORDER TRANSACTIOINS: CONCEPTUAL REVIEW OF ISLAMIC BANKING INDUSTRIES
The paper aims to identify major’s regulatory challenges are facing in maintaining proper harmonization of Shariah rulings of Islamic Bank across the world in the cross-border activities. The study found that the Islamic banking is confronting challenges to make appropriate rules and regulations for making the common standardized mode of finance to cope up with present market demand for their customer with conventional counterpart base on the Islamic sharia principles. Particularly, in the arena of competing in the global markets and establish unique regulatory institutions for proper harmonization of Shariah rulings of Islamic Banks over the cosmos in the cross-border actions. The study recommends that policymakers are to pay attention to solve the above regulatory issues to face the existing challenges for the smooth financial operation in the future. JEL Classification Codes: G21, G24, L26, P51.
Harmonization, Islamic Banking, Regulations, Cross Border Activities.
Copyright (c) 2020 Abul Bashar Bhuiyan, Md. Jafor Ali, K. M. Anwarul Islam, Md. Shahbub Alam, Mohammad Solaiman
Shariah Governance: Perspective of Islamic Finance
The present short paper is an attempt to anlyze the Shariah Governance of Islamic Finance. Corporate governance issues are especially important in developing economies, since these countries do not have a strong, long-established financial institution infrastructure to deal with corporate governance issues.
Syariah Governance, Islamic Finance, regulatory framework.
Copyright (c) 2018 Md. Rezaul Karim Miajee
The American National System of Corporate Governance
Introduction Corporate governance (CG) has recently been extensively discussed, intensely debated and variously deﬁned in the United States. For the purposes of this chapter, CG shall mean the internal arrangements within a corporation intended to provide reasonable assurances that corporate directors and ofﬁcers make and implement decisions in accordance with their duties of care and loyalty to their corporations. CG in the United States is often associated with the recent initiatives taken in the wake of corporate scandals such as Enron and MCI. While the recent initiatives are undoubtedly important, their signiﬁcance can best be understood in the context of the existing frameworks under corporate and securities law. The current initiatives in the United States (i.e. the recently adopted CG provisions in the listing requirements for the New York Stock Exchange (NYSE) – and the provisions of the Sarbanes–Oxley Act of 2002 – often called “Sarbanes– Oxley”) in important ways simply add to the governance measures already in place pursuant to corporate law and securities regulation in the United States. Only after understanding foundations in corporate law and securities regulation in the United States is it possible to understand the signiﬁcance, and the limitations, of the recently adopted NYSE listing requirements and of Sarbanes–Oxley. In general, the recent NYSE initiatives attempt to improve the degree of independence among directors of corporations listed there so that they are better able – and more likely – to meet the performance standards currently applicable to directors under corporate law (i.e. duties of care and loyalty), but the NYSE does not change those standards. Unfortunately, the NYSE listing requirements do not have the force of law. Sarbanes–Oxley, on the other hand, in general, attempts to improve the independence of external auditors and corporate directors so that they are better able – and more likely – to prepare public disclosures in form and substance required by US securities regulations. There are also provisions intended to enhance the care with which corporate ofﬁcers prepare required public disclosures. Unfortunately, Sarbanes–Oxley applies only to disclosure requirements under US securities regulations. With limited exceptions, Sarbanes–Oxley is not speciﬁcally intended to apply to directors’ or ofﬁcers’ broader obligations to their corporations or the standards applicable to their performance of those obligations.
Corporate Governance, Corporate Law, NYSE
Financial Reporting and Corporate Governance in Developing Countries: A literature Review
Transparency is one of those terms that have many facets. It is used in different ways. It can refer to the openness of governmental functions. It can also refer to a country’s economy. Or it can refer to various aspects of corporate governance and financial reporting. The Organisation for Economic Co-operation and Development (OECD, 1998) lists transparency as one element of good corporate governance. Kulzick (2004) and others (Blanchet, 2002; Prickett, 2002) view transparency from a user perspective. According to their view, transparency includes the following eight concepts: accuracy, consistency, appropriateness, completeness, clarity, time- liness, convenience, and governance and enforcement. This paper focuses on just one aspect of transparency – timeliness.
Financial Reporting,Corporate Governance, APB.
Copyright (c) 2018 Orobah Ali Barghouthi
Corporate Governance in Asia: A Comparative Study
The World Bank has done 10 Report on the Observance of Standards and Codes (ROSC) studies of corporate governance for Asian countries. The paper it used was based on the categories used in an Organisation for Economic Co-operation and Development publication (OECD, 2004).
Shari‘ah Governance: An Islamic Economic System
This paper examines the roots of shari‘ah in order to provide a solid theoretical foundation that is needed for understanding Islamic jurisprudence in general and Islamic transactional law in particular. Without this minimum understanding of shaiī‘ah, it would be rather difficult to discuss Shari‘ah governance.
Bank Information Disclosure, Financial Transparency and Corporate Governance in Rastin Banking
Purpose: This paper aims to define a set of banking operating regulations for financial transparency, corporate governance, and bank information disclosure. Design: Bank governance, financial transparency, and information disclosure are amongst the most important solutions to attract public trust to financial and banking operations. In order to reach this goal, a new set of regulations should be designed to solve the problem. In this way, Rastin Banking regulations can provide a base to obtain a better information circulation and higher clarity. Findings: A draft of regulations for financial transparency, governance, and bank information disclosure is presented in this paper, which can be employed as a basis for the codification of the respective law. Research limitations: Since such kinds of regulations are novel for banks, they are required to be meticulously scrutinized in the first place, and after adaptation, adjustment, and performing the necessary modifications, the code of law can be codified. Practical implications: Bank managers, through granting various concessions to themselves and their own stakeholders, have violated the rights of shareholders, depositors, and other stakeholders. This issue, through applying the governance methods, is adjustable to a great extent. Social implications: This procedure is a model that can be adopted in other countries, especially those countries that have essential ambiguities in their banking and financial operations. Value: Clearly, the lack of transparency in banking operations can gradually weaken the trust of depositors, stakeholders, and shareholders, and result in probable abuses and damages to all parties in the bank’s contracts. This article fulfills an identified need and solves the practical problem in financial abuses, corruption, and collusion, and can provide positive and essential effects on creating public trust in financial operations.
: Rastin Banking, Corporate Governance, Information Disclosure, Transparency, Banking, Financial Law
Copyright (c) 2019 Bijan Bidabad ,Mahshid Sherafati
Effects of Moral Values on Individuals and Society and Its Relation to Economic Development: An Analytical Study
Moral and ethical values guide a person to differentiate what is good and wrong, and provides an acceptable code of behaviors that all members of a particular society are supposed to follow so as to live in peace and harmony. On the other hand, there are a strong relationship between moral values and economic development of society as well as country. The article aims to describe effects of moral values on individuals and society. It also aims to discover the relationship between development of society and moral values through applying analytical method. The study cleared that deterioration of moral values, ethical values; common manners, respect, civility and proper etiquette have impacted negatively on the individuals and modern society.
Morality, Ethics, Values, Civilization, Economy, Development.
Copyright (c) 2018 Mohammad Maseehur Rahman
Effect of Capitalizing Human Resource Cost on Corporate Profitability in Ondo State, Nigeria
The study examined the effects of conventional treatment of Human Asset on Net Profit; determined the effects of Human Resources Capitalization on firm’s net worth; determined the effect of Human Resources Capitalization on firms' share prices. The study adopted the survey research design and well-structured questionnaire was purposively distributed to 100 staffs of selected firms in the Central senatorial district of Ondo state. Data collected were presented and analysed using ANOVA and Regression. The study revealed that creating room for creative accounting, lack of accounting standard backing conventional treatment of human resources and Biasness in financial reporting are joint indicator of the effect of conventional treatment of Human Asset on Net Profit (R2= 0.577; P < 0.005). The study clearly shows that improving investors’ confidence (29.236; 145.171; 0.000), ease in assessing future potential earnings (29.042; 66.933; 0.000); Contribution to decision making process of capital formation (26.197; 100.249; 0.000); sustainable equity position (23.988; 137.766; 0.000); have significant effect on firm’s network. The study also shows that increase in the level of profitability (4.026; 6.789; 0.000), firm’s growth (23.430; 74.008; 0.000); increase in the size of a firm (11.087; 95.832; 0.000); have significantly affected the share price of a firm. It was concluded that increase in profitability, firm size and growth are some of the cogent effect of capitalization of human resources have an effect on the share price of a firm. The study recommends that professionals, regulators and preparers of financial statements should be enlightened in order to improve the reporting of human resources cost on the face of the financial statement.
Capitalizing Human Resource, Cost on Corporate Profitability, Nigeria.
Copyright (c) 2019 Adeyinka Joseph Adewole ,Kayode Joseph Ogunyemi,Ojo Sunday Akinmulegun
Non-Usury Bank Corporation (NUBankCo): The Solution to Islamic Banking
In this paper, we are going to introduce a new Islamic financial institution with elaborated economic and financial characteristics. «Non-Usury Bank Corporation» (NUBankCo) is defined in a way that depositors are the shareholders of the Bank. This corporation is a new kind of shared ownership corporation which its shareholders are deposit holders and their deposits work as corporation’s equities. The defined bank can perform non-usury operations, and by designing a behavioral model, it is shown that NUBankCo can draw an environment that the welfare of society is to be maximized. Mobility of deposit resources in NUBankCo is less than conventional banks, and there are fewer conflicts between large and small shareholders/depositors and limits the emergence of shareholders’ cartels and thus huge sudden outflow of funds which creates bankruptcy crises.OECD’s corporate governance criteria are completely adaptable to this bank. Other pronouncements like Basel, AAOFI, IFSB, and FSF can be applied to this bank. NUBankCo can be established in different countries and can be adapted to different monetary, banking, foreign exchange, and commercial laws and regulations and can coexist in competition with conventional banks.NUbankCo will be Islamic in deposit mobilization side and will be Islamic in the loan/credit side for certain Islamic contracts and banking operations. Foreign currency exchange operations, bonds, commercial papers, and precious metals transactions, cash and draft operations, and credit and beneloan (non-interest loan) operations are characterized for NUBankCo to be fully Islamic.
The Critical Appraisal of Limited North European Corporate Governance Standards after Global Crisis, Corporate Scandals and Market Manipulation
This paper mainly analyzes principles and standards of some international and North European corporate governance frameworks which are issued during or after the global crisis.First, it looks at the United Nation Good corporate governance practices and analyzes its strengths and impacts on corporate governance model of a company.Second, it compared the UN standards to generally accepted governance standards of Sovereign Wealth Funds. The paper finds out that during the global crisis time 207-2008, despite taking care of risk management, there still lacks of certain governance standards in these 2 Codes. Then, it analyzes some relative good corporate governance standards in a few North European countries including: Norway and Finland.Third, this paper provides with a short summary of evaluation of these above 2 corporate governance principles in 2 groups which can enable corporations tocompare to their current codes.Last but not least, it aims to realize a limited general set of standards of corporate governance and give proper recommendations to relevant governments and organizations. Additionally, it includes a section for recommending corporate governance for developing countries including Viet Nam.
Corporate Governance Standards; Board Structure; Code of Best Practice; Financial Crisis; Corporate Scandals; Market Manipulation; Internal Audit.
Purpose: Although the treasury bill is the most important monetary instrument in central banking, its application in different phases of the business cycle, especially in a liquidity trap, is not working well. To remove this obstacle “Interest-Free Treasury Bond” (IFTB) is introduced as a substitute for conventional treasury bills. Design: IFTB is a valuable paper which is issued by government treasury through a barter contract and is sold to central or commercial banks. The issuer is a debtor to the holder and has to pay back the nominal value at maturity; in addition, the issuer is committed to lending a similar amount of money to the paper holder for an equal period. Zero interest rate is nominated for lending and borrowing. Finding: IFTB is a zero-coupon, asset-backed note with no interest and is designed upon “debt equal to future loan”, or “loan equal to future debt” with “time-withdrawal right”. The paper holder can supply and transact her bond in the secondary market at a competitive price. Practical implication: It can be used as a substitute for conventional treasury bills. All conventional and non-usury systems can implement IFTB. JEL: E43, E44, E52, E58, E62, E63
Treasury Bills, Foreign exchange, monetary policy, fiscal policy, usury-free banking, Islamic central banking, financial instrument
Slavery in Islam: An Islamic Sufi Approach
In this paper, the history of slavery in the pre-Islamic era is considered first, and then the definitions used in that period are compared with the Islamic definition of slavery. Generally, in concept and reality, the definition of slavery from the Islamic viewpoint has essential differences with slavery in the ancient world, and the treatment with slaves was also totally different. Unlike the abolition of slavery in most countries which accompanied with war, roughness and social damages, the decided policies of Islam were based on the gradual deletion of slavery from the society to achieve the least social turbulence. Actually, because the input to the slavery system in Islam was narrow, and the output of the slavery system was wide; the phenomenon of slavery was gradually deleted in Islamic nations.
Slavery, Islam, Mysticism, Sufism, Public International Law
Copyright (c) 2019 Bijan Bidabad,Mehdi Tabatabaei
Stabilizing Business Cycles by PLS Banking and Ethic Economics
In addition to discuss economic cycle’s theories in this paper by decomposing money market into two markets of "saving-depositing" and "investment-credit facilities", we study the time structure behavior of depositor-bank-investor and conclude that the traditional banking structure creates fluctuations in money sector and interest rate. These fluctuations affect the real sector through saving and investment and undulate the economy as well. Mathematical derivations show that banking structure is one of the main factors of economic cycles. Therefore, the abolition of usury (Riba) is proposed as the solution to relate directly investment to saving via The Rastin Profit and Loss Sharing Banking. In this framework, the bank offers investment management services and obtains commission. In The Rastin Profit and Loss Sharing Banking risks are practically transferred from credit facility sector (loans) to deposit sector and bank does not face any losses. On the other hand, the creation of a strong structural relationship between the interest rate of deposits and credit facility interest rate does not let any losses to occur in the capital market while there is profit in the deposit market. This concept is against the conventional banking system in which if the borrower obtains profit or loss; he has to pay interest (profit) to the depositor.The second pathological defect of economic crisis is the excessive consumption and economic greed and similar bad habits which expand economic cycles. The adjustment of mankind behavior, according to Islamic and other divine religions ethical and mystical tuitions, will practically prevent the intensity of crises. Prevention of extravagance frees a large portion of economic resources, and therefore, the magnitude of the business cycle will be reduced, and economic stability will be relatively increased.
Usury-free banking, ethic economics, business cycle, extravagance.
Social Changes: An Islamic Sufi Approach
Change of the society begins with change and transformation of humankind. Human beings change is due to their educations in all respects of social customs, etiquette, organizational skills, and customs of ethical and occupational. Different ideas about the way to change people's opinion return back to human beings' notions. However, some believe that imbalance of forces in various classes of the society is the reason for revolutions and changes in. If a notion is rejected, then its tradition will collapse, and tradition-breaking starts. Because notion connects values to nature of objects and value them, and this credited value is known as a reality for human beings. Transformation starts when those notions that convert customs and habits to tradition, and then to institution start to change. Combination of old and new notions appears a synthesis of notion, and in the next step, the synthesis works as a thesis and reappearance of antithesis ends to revolutions and evolution of the societies. General rules of being are not specific to a particular science. Further, social pressures, evolutions, and revolutions comply with the laws of mechanics. Mechanical laws are highly adaptable to bring the forces and pressures into individual and social changes analysis. As empirical scientist discovered and described the mathematical rules of physical laws to analyze and study the physical and chemical phenomena; it is time to place that psychologists, as well as social scientists, discover the mathematical expressive rules within individual and interpersonal behavioral realms. Islam proposes the most important theory of social changes and evolution toward ethical promotion, and principally, though considers class differences and conflicts regarding the issues of interest, wealth and materialism, but enlightens people that all these affairs are just credited and should not be emphasized more than necessary. Birth of a human being is birth of a thinking force that regarding the average intelligence and norms condition of human society, can solve his problems, and among the born based on the probability distribution functions, some are with very high IQs who can initiate large changes in larger societies. Instead of inhibiting population growth, raise a population reform agenda. Therefore, considers special rules dealing with male-female relationships and marriage.
Public Law, Theosophy, Mysticism, Sufism, Islam, Social Change
Public Administration: An Islamic Sufi Approach
Along with comparing public administration affairs in traditional political, genuinely religious, patrimonial, and charismatic systems, we deal with decision-making problem, and along with mentioning decision-making methods in modern mathematics, the decision making process on the basis of personal value system will be under considerations. If the human beings’ value system moves from caring material affairs towards concerning spiritualties, the consequences of decision-making process would be improved. In establishing management and making hierarchical organization, the more the rate of discipline and ration, the organization framework would become more consolidated. The basic skeleton of an organization includes division of labor, authority, and responsibility, hierarchical relationships of different job categories in the organization, and the qualifications of relationships are of the other items that are being considered in this paper. Mutual understandings and beliefs of members of the organization in approaching organizational goals and their moral commitments to preserve organization's benefits would reduce the costs of supervision and control in organizations including visible and invisible costs, and methods for providing these conditions in Sufism are achieved via purification of the self for every single of the individuals. Meritocracy and favoritism are other discussed topics in this paper. In conclusion, fifty rules for public administration affairs are presented which have been raised by His Excellency Haj Zein ul-Abedin Shirvani, a Sufi Master of two centuries ago.
Administration, Public Affairs, Decision-Making, Organization, Theosophy, Mysticism, Sufism, Islam
BOOK REVIEW AN ISLAMIC PERSPECTIVE ON GOVERNANCE, By Zafar Iqbal and Mervyn K. Lewis, Cheltenham (UK) and Northampton, MA(USA): Edward Elgar Publishing Limited, 2009, Pp. xvi + 368. ISBN 978 1 84720 138 6
Fraud Detection on Banking Industry in South Sumatera: A Study on the Role of Internal Auditors’
Internal auditors function is important as the first filter against fraud in the implementation of fraud detection in banking and financial industry. This study was conducted involving internal auditors at several banks in South Sumatera, Indonesia. Questionnaire was used to collect the data which was then analyzed using SPSS. The results indicate that the auditing expertise of supreme internal auditors do not suit the criteria of fraud detection. Therefore, it is concluded that the internal auditors in banking industry in South Sumatera are not ready yet for the implementation of fraud auditing.
Internal Auditor, Fraud, Auditing, Bank Industry
Copyright (c) 2019 Mohd Fuad Mohd Salleh ,Tulus Suryanto
Money Politics: The Problem of Good Governance in Ese-Odo Local Government Area, Ondo State, Nigeria
This study examined critically how money and gifts have been used to influence the electorates during elections in Ese-Odo Local Government Area of Ondo State. Politicians in Nigerian society, especially in Ese-Odo LGA seem to have their ways in forcing themselves into seat of power by manipulating the thought of the electorates thereby engaging them into vote-buying and vote-selling. The population for study consisted of 213600 citizens. The sample consisted of four hundred (400) respondents. Three research questions were raised for the purpose of the study. The data that were retrieved from the respondents were three hundred and ninety-eight. Descriptive statistics was used to analyse the data and one hypothesis was also tested. The study found out that using money and other gifts by the politicians to influence the electorates is one of the major reasons for bad governance in Ese-Odo LGA. The study concluded that money politics has brought a great setback to democracy and has hampered the development of the masses and that of the society at large. The study, there for, recommended that for there to be free and fair elections in the society, the electorates must be enlightened on the civic rights of the electorates so as not to get involved in money politics. This will enable the electorates to vote for any political aspirant of their choice. Electoral laws should be strictly adhered to, and any electoral officer who is involved in using the period of elections as a means of extorting money from the political contestants should be dealt with. However, any political member who is caught in the act of vote-buying should be severely punished according to electoral laws. By doing this, the masses will be able to secure their well-being and that of the generations yet to come for sustainable development.
Democracy, election, money politics, corruption and bad governance.
Copyright (c) 2019 David Tolo,Oluwakemi Ibidapo Abolarin
Institutional Governance and Its Role in Reducing Financial and Administrative Corruption in Islamic Banks Operating in The City of Hebron
The aim of this research is to identify the institutional governance and its role in reducing financial and administrative corruption in Islamic banks operating in the city of Hebron, and a questionnaire has been built to answer the study questions, as it was distributed to all workers in Islamic banks operating in the city of Hebron. The study concluded that Corporate governance has a major role in reducing financial and administrative corruption in Islamic banks operating in the city of Hebron, due to the Board’s enjoyment of competence, competence, independence, and integrity, as well as because Islamic banks maintain independent, impartial and effective auditing systems that achieve compliance with what Enhanced disclosure and transparency. The study recommended that the standards of corporate governance be strengthened in reducing financial and administrative corruption by activating the role of oversight within banks through seminars and training necessary to qualify employees in banks, and that banks support independent, fair and effective auditing systems to achieve compliance during the performance of activities Banking.
Corporate Governance, Financial Corruption, Administrative Corruption, Islamic Banks
Copyright (c) 2020 Raed Abueid, Alaa Shawar, Ayat Khmaisah