This paper aims to investigate the origins and evolution of IslamicBanking and Finance from the early days of Islam up to the formal establishmentof Islamic banks in the sixties of the last century. It also sheds light on thebanking practices in the later parts of Islamic history which is an almost unresearchedarea. It records the existence of interest free lending societies at theend of the 19th century and the situation preceding the development of modernIslamic banks in the second half of (...) the twentieth century. The paper concludesthat Islamic banking was an attempt to practice an aspect of economic life inan Islamic way and it first emerged in rural and agricultural economies andnothing to do with the petrodollar or oil boom of the Middle East as usuallyput forward. (shrink)

An extensive work has been done on corporate social responsibly practices that mainly emphasized the larger firms within developed nations. Nonetheless, still work is needed to observe the importance of CSRPs’ and ethical cultural practices in terms of sustainable competitive performance that garnered far less attention by the existing literature. This study explores the impact of CSRPs on SACP with the mediating role of ECL from SMEs of two emerging nations, i.e., China and Pakistan based on stakeholders’ theory and practices. (...) The results using SEM affirmed the positive linkages of CSRPs—environment responsibility, community responsibility, customers' responsibility, suppliers responsibility, employee responsibility, and Govt. rules & regulations’ responsibility —on SACP. It found that CSRPs have positive relationships with ECL whereas ECL further positively correlated with SACP in the context of both countries. The findings revealed the positive mediating influence of ECL between CSRPs and SACP, respectively. This study furnishes insightful information for management on how firms may achieve sustainable performance by incorporating ethical cultural practices and corporate social responsibility practices as the strategic tools. The study reports numerous implications for management together with lines for future directions. (shrink)

Across the world, corruption is endemic, a cause of growing inequality, and an impediment to economic growth. Many countries have attempted to curb corruption at the national level, with little success. Researchers have argued that, instead of initiate controlling corruption at national level, resisting corruption should be actively instigated within organisations. Specifically, Luo :119–154, 2005) suggests that corruption becomes entrenched in organisations through the task and institutional environments, and can therefore only be fought through changes in institutional architecture. Modification of (...) Luo’s model, by putting in place anti-corruption systems at the start, shows how anti-corruption behaviours become established and can be resisted. In this paper, we explore the successful management of organisational corruption by the Grameen Bank, a leading microfinance institute that operates in Bangladesh. For many years, this bank has stood out against the generally accepted culture of corruption in Bangladesh. Using the case study method, this research explores the impact of the anti-corruption structures and processes implemented by Grameen Bank, as a unique illustration within Bangladesh of the value of this modified version of the Luo’s model. The bank has actively introduced policies and processes that have made it difficult for corruption to become established. (shrink)

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be (...) preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. (shrink)

Williams and DeSteno (2010) and Gladkova (2010) question the validity, utility, and theoretical support for the bifurcation of pride into hubristic and authentic facets. Though these commentators highlight unanswered questions and important directions for future research, we argue that the broad, evolutionarily informed framework for the two facets, presented in our target article nonetheless provides the best fit and explanation for the existing pattern of evidence. We offer several empirical suggestions for future studies addressing the questions raised by the commentators, (...) and emphasize the need for emotion researchers to hew closely to empirical data in developing theoretical accounts. (shrink)

The goal of responsible engineers is the creation of useful and safe technological products and commitment to public health, while respecting the autonomy of the clients and the public. Because engineers often face moral dilemma to resolve such issues, different engineers have chosen different course of actions depending on their respective moral value orientations. Islam provides a value-based mechanism rooted in the Maqasid al-Shari‘ah (the objectives of Islamic law). This mechanism prioritizes some values over others and could help resolve the (...) moral dilemmas faced in engineering. This paper introduces the Islamic interpretive-evaluative maxims to two core issues in engineering ethics: genetically modified foods and whistleblowing. The study aims primarily to provide problem-solving maxims within the Maqasid al-Shari‘ah matrix through which such moral dilemmas in science and engineering could be studied and resolved. (shrink)

Maqasid al-Shariah based Islamic bioethics is an Islamic bioethics concept which uses the objectives of the Shariah as its approach in analysing and assessing bioethical issues. Analysis based on maqasid al-Shariah based Islamic bioethics will examine any bioethical issues from three main aspects namely intention, method, and output or final goal of the studied issues. Then, the evaluation will be analysed from human interest hierarchy, inclusivity, and degree of certainty. The Islamic bioethics concept is a manifestation of dynamic Islamic jurisprudence (...) which can overcome new complex and complicated bioethical issues such as tri-parent baby technology issues. Therefore, this article will introduce and explain the concept of maqasid al-Shariah based Islamic bioethics and outline a general guidance of maqasid al-Shariah based Islamic bioethics to determine a maqṣad based on standards of human good or well-being and harm. (shrink)

Criticism of Nurcholish Majid's thoughts on Islamic reform.

Although pride has been central to philosophical and religious discussions of emotion for thousands of years, it has largely been neglected by psychologists. However, in the past decade a growing body of psychological research on pride has emerged; new theory and findings suggest that pride is a psychologically important and evolutionarily adaptive emotion. In this article we review this accumulated body of research and argue for a naturalist account of pride, which presumes that pride emerged by way of natural selection. (...) In this view, pride is prevalent in human life because of the functional and adaptive role it has played in the attainment, maintenance, and communication of social status throughout our evolutionary history. (shrink)

Two sample populations, one refugee and one resident, were studied. The frequencies of consanguineous marriages came out to be 49·8% and 55·4%, respectively, for the refugees and the residents. Caste endogamy was dominant both in the residents and the refugees. The mean coefficient of inbreeding was calculated to be 0·0303 for the refugee population and 0·0332 for the resident population samples. First cousin marriage was the dominant type of marriage in both samples; fathers daughter (FBD) marriage was more frequent among (...) the refugees while mothers daughter (MBD) marriage was more frequent among the residents. Education has no decreasing effect on the incidence of consanguineous marriages. A significant difference in the pattern of marriages in the refugees is observed after the Saur Revolution of 1979. (shrink)

We develop a cultural evolutionary theory of the origins of prosocial religions and apply it to resolve two puzzles in human psychology and cultural history: (1) the rise of large-scale cooperation among strangers and, simultaneously, (2) the spread of prosocial religions in the last 10–12 millennia. We argue that these two developments were importantly linked and mutually energizing. We explain how a package of culturally evolved religious beliefs and practices characterized by increasingly potent, moralizing, supernatural agents, credible displays of faith, (...) and other psychologically active elements conducive to social solidarity promoted high fertility rates and large-scale cooperation with co-religionists, often contributing to success in intergroup competition and conflict. In turn, prosocial religious beliefs and practices spread and aggregated as these successful groups expanded, or were copied by less successful groups. This synthesis is grounded in the idea that although religious beliefs and practices originally arose as nonadaptive by-products of innate cognitive functions, particular cultural variants were then selected for their prosocial effects in a long-term, cultural evolutionary process. This framework (1) reconciles key aspects of the adaptationist and by-product approaches to the origins of religion, (2) explains a variety of empirical observations that have not received adequate attention, and (3) generates novel predictions. Converging lines of evidence drawn from diverse disciplines provide empirical support while at the same time encouraging new research directions and opening up new questions for exploration and debate. (shrink)

In Clark’s thoughtful analysis of the evolution of the two facets of pride, he suggests that the concurrent existence of hubristic and authentic pride in humans represents a “persistence problem,” wherein the vestigial trait (hubristic pride) continues to exist alongside the derived trait (authentic pride). In our view, evidence for the two facets does not pose a persistence problem; rather, hubristic and authentic pride both likely evolved as higher-order cognitive emotions that solve uniquely human—but distinct— evolutionary problems. Instead of being (...) conceptualized as serial homologues, with one the vestigial form of the other, we argue that hubristic and authentic pride are both derived homologues of a vestigial proto-pride emotion that existed in our shared ancestry with other primates. (shrink)

The article examines the ideas of divine command and divine law in their Quranic and Muslim legal contexts. It suggests a strong connection between western and Muslim values based on linkages developed in medieval times through Latin appropriation of Arabic studies of Classical philosophy. It also traces the need to address common, contemporary concerns such as poverty, through a shared ethical stance.

Despite all its merits, the vast majority of critical attention devoted to colonialist literature restricts itself by severely bracketing the political context of culture and history. This typical facet of humanistic closure requires the critic systematically to avoid an analysis of the domination, manipulation, exploitation, and disfranchisement that are inevitably involved in the construction of any cultural artifact or relationship. I can best illustrate such closures in the field of colonialist discourse with two brief examples. In her book The Colonial (...) Encounter, which contrasts the colonial representations of three European and three non-European writers, M. M. Mahood skirts the political issue quite explicitly by arguing that she chose those authors precisely because they are “innocent of emotional exploitation of the colonial scene” and are “distanced” from the politics of domination.`1We find a more interesting example of this closure in Homi Bhabha’s criticism. While otherwise provocative and illuminating, his work rests on two assumptions—the unity of the “colonial subject” and the “ambivalence” of colonial discourse—that are inadequately problematized and, I feel, finally unwarranted and unacceptable. In rejecting Edward Said’s “suggestion that colonial power and discourse is possessed entirely by the colonizer,” Bhabha asserts, without providing any explanation, the unity of the “colonial subject .”2 I do not wish to rule out, a priori, the possibility that at some rarefied theoretical level the varied material and discursive antagonisms between conquerors and natives can be reduced to the workings of a single “subject”; but such a unity, let alone its value, must be demonstrated, not assumed. Though he cites Frantz Fanon, Bhabha completely ignored Fanon’s definition of the conqueror/native relation as a “Manichean” struggle—a definition that is not a fanciful metaphoric caricature but an accurate representation of a profound conflict.3 1. M. M. Mahood, The Colonial Encounter: A Reading of Six Novels , pp. 170, 171; and see p. 3. As many other studies demonstrate, the emotional innocence and the distance of the six writers whom Mahood has chosen—Joseph Conrad, E. M. Forster, Graham Greene, Chinua Achebe, R. K. Narayan, and V. S. Naipaul—are, at best, highly debatable.2. Homi K. Bhabha, “The Other Question—The Stereotype and Colonial Discourse,” Screen 24 : 25, 19.3. Frantz Fanon, The Wretched of the Earth, trans. Constance Farrington , p. 41. Abdul R. JanMohamed, assistant professor of English at the University of California, Berkeley, is the author of Manichean Aesthetics: The Politics of Literature in Colonial Africa. He is a founding member and associate editor of Cultural Critique and is currently working on a study of Richard Wright. (shrink)

After tracing the main features of the foundational ethical perspectives and their relationship to the rise of medical practice in early Islam, the paper focusses on the development of the moral concept of adab . This concept served as an important tool in defining and shaping an ethical tradition based on the integration of the Hippocratic tradition into Muslim medicine and its underlying moral values. The existence of plural therapeutic systems and their moral and theological sources are also noted and (...) an attempt is made to show how all of these diverse modes co-existed through most of the premodern history of medicine among Muslims. The paper ends by outlining the impact the European colonial and cultural encounter with the World of Islam had, in creating a duality in medical practice, education and institutions, thus limiting sustained and meaningful discourse between modern medical science and the ethical values of Islam. Keywords: Islam, adab , justice, colonialism CiteULike Connotea Del.icio.us What's this? (shrink)

The Barisan Nasional (BN) which won a landslide in 2004 was returned to power in 2008 elections with reduced majority and the loss of five state assemblies. Dissatisfied with unfulfilled promises, the electorate protested by voting for a strong opposition. BN additionally was characterized by factionalism. Three opposition parties joined hands and, using alternative media, unexpectedly won 82 seats in the parliament. A strong responsible opposition bodes well for Malaysian democracy.

Tri-parent baby technology is an assisted reproductive treatment which aims to minimize or eliminate maternal inheritance of mutated mitochondrial DNA. The technology became popular following the move by the United Kingdom in granting license to a group of researchers from the Newcastle Fertility Centre, Newcastle University to conduct research on the symptoms of defective mtDNA. This technology differs from other assisted reproductive technology because it involves the use of gamete components retrieved from three different individuals. Indirectly, it affects the preservation (...) of lineage which is important from an Islamic point of view. This paper aims to analyze and discuss the implications of the tri-parent technology on preservation of lineage from the perspective of Maqasid al-Shari’ah based the Islamic bioethics. The analysis shows that there are a few violations of the preservation of lineage, hence the tri-parent baby technology should not be permitted. (shrink)

This study examined auditors'' perceptions of the relative level of risk of fraud and material irregularities associated with the presence of six red flag factors and also evaluated the quality of auditors'' judgements. The study was conducted in two stages. In the first stage, subjects were asked to rank the importance of 15 factors that proxy the existence of material misstatements. Based on the responses to this questionnaire, 6 of the most important factors were identified and included in the second (...) stage, a lens model experiment. In the lens model experiment, 30 experienced auditors from a cross-section of Big 6 firms were used as subjects in a repeated-measures ANOVA design. Results showed that misstatements in prior audits and indicators of going-concern problems were perceived to be the most significant factors in alerting auditors to the risk of fraud and material irregularities. In making these judgements, auditors demonstrated a relatively high level of consensus and consistency. However, the two most important factors in the lens model experiment are not the same as the results of the first survey suggesting that the first group of respondents, faced with a simple questionnaire, used heuristics in their decision making. The results have implications for audit practice. (shrink)

The outbreak of COVID-19 comes at the time when a shrinking public sector healthcare is an acknowledged fact in post-colonial societies. The policies adopted by the apparatus of most nation states for the past thirty years or more reveal that providing healthcare to all sections of societies is not a priority. The gradual process of economic liberalization has established “market” as the only legitimate mechanism of the distribution of goods/services as per the efficiency principle. The financial markets are globalized in (...) such a manner that nation states are constantly losing their capacity to perform redistributive functions. State withdrawal from the provision of welfare rights is undermining its moral authority to impose any normative imperative to the people who are being left alone at the mercy of market forces. But the spread of COVID-19 on a global scale has provided an opportunity to the nation state. With the help of healthcare systems, the State has reasserted itself as the ultimate archangel to define human beings and their respective status in the newly emerging nomenclature of the public sphere. In this paper, the rejuvenation of the nation state with respect to bio-power will be discussed in the postcolonial context. (shrink)

This paper is an attempt at re-examining the question of co integration and causality between money supply and inflation. As a first step we have used the statistical theory of integrated regresses to establish the time series properties of MI, M2, CPI and WPI economic series for Pakistan and then tested causality between money supply and inflation using Granger causality test. The result indicates that M,, M2, CPI and WPI are integrated of order one. Both M1 and M2 are co (...) integrated with CPI and WPI. The result also indicates that money supply cause inflation irrespective of whether it is represented by the CPI or WPI. It is also observed that inflation. cause changes in money supply, irrespective of whether it is measured as M1 or M2. (shrink)

Mitochondrial replacement technology (MRT) is an emerging and complex bioethical issue. This treatment aims to eliminate maternal inherited mitochondrial DNA (mtDNA) disorders. For Muslims, its introduction affects every aspect of human life, especially the five essential interests of human beings—namely, religion, life, lineage, intellect, and property. Thus, this technology must be assessed using a comprehensive and holistic approach addressing these human essential interests. Consequently, this article analyses and assesses tri-parent baby technology from the perspective of Maqasidic bioethics—that is, Islamic bioethics (...) based on the framework of Maqasid al-Shariah. Using this analysis, this article suggests that tri-parent baby technology should not be permitted for Muslims due to the existence of third-party cell gametes which lead to lineage mixing and due to the uncertain safety of the therapy itself and because the major aim of the technology is to fulfil the affected couples interest to conceive their own genetically healthy child, not to treat and cure mtDNA disorders sufferers. (shrink)

This book entails four clearly articulated rubrics and overarching concepts as the foundational basis for analyzing Toyin Falola's work: biography and knowledge production, Africa in the configuration of knowledge, the Yoruba in the configuration of knowledge, and the value of knowledge in terms of policies and politics. The chapters are located within broader epistemological perspectives and undertake critical interpretations and explanations of Falola's writings. Falola's ideas are extended into greater realms of meaning by employing analytical tools from the fields of (...) political science, economics, literature, linguistics, computer science, mathematics, and religious studies. Furthermore, the book situates Falola's ideas in their historical contexts. This approach involves examining related events occurring during the times of the main events of his studies, thereby allowing readers to grasp many subtle details and background information that account for the types of meanings embedded in his writings. The originality of this book therefore hinges upon the clarity with which familiar but unconnected facts about Falola's writings are marshaled into a simpler, pluridisciplinarily analytical unity. (shrink)

This study investigates the key factors that elicit financial reporting fraud among companies in Malaysia. Using enforcement action releases issued by the Security Commission of Malaysia and Bursa Malaysia, we identify a sample of 76 firms that had committed financial reporting fraud during the period of 1996–2016. We use the fraud triangle framework and the Malaysian International Standards on Auditing 240 to identify the factors. Since the simple probit model fails to address the identification problem, we estimate our results using (...) a bivariate probit model. The new model estimates the effects of pressure, opportunity, and rationalization on the probability of fraud likelihood by disentangling the detection probability of fraud. Among several proxies used for pressure, our results suggest that aggressive tax reporting and financial difficulties increase the likelihood of fraud commission. In regard to opportunity, we find that dedicated institutional investors, independence of the board, effective audit committee, and the presence of a female on the board provide active monitoring and oversight in reducing fraud occurrence. Results for rationalization suggest that prior violations and frequent changes of external auditors increase the chances of fraud occurrence. This research offers possible insights to auditors, managers, and regulators to prevent, detect, and react to fraud. Specifically, it highlights the specific factors that may exacerbate the fraudulent intentions of firms. (shrink)

About the Book: This Book besides giving Poetic Stance of The Holy Qur'an also discusses: Why couldn't the Creation take place without a Creator: There's a mathematical affirmation besides scientific and philosophical assertions.

The contemporary Qur’anic studies have been marked by amazing development. Various methods and approaches to understand the Qur’an are offered by the scholars. One of the prominent figures in this field is Nashr Hamid Abu Zayd. Nasr Hamid Abu Zayd (1943–2010 M) is a highly controversial contemporary thinker. He is an Egyptian scholar who is accused of being apostate, because of his theory of qur’anic hermeneutic (the textual of Qur’an). This is reflected in his stances towards contemporary religious discourse and (...) the approach to reading religious texts, especially the Quran, which requires reading according to a hermeneutic mechanism. His books ‘Naqd al-Khitab al-Dini (Criticism of Religious Discourse)’ and ‘Al-Takfir fi Zaman al-Takfir (Thinking in the Time of Atonement)’ caused a great uproar in the early nineties of the last century. Abu Zayd was accused of criticising atheists because of their stances on the text. Therefore, this study aimed to discuss Abu Zayd’s position on contemporary religious discourse and his new approach to reading religious texts, and also aims to discuss why Abu Zayd’s theory has been string up Islamic world and ending by his expulsive from his native country. To deal with this problem, this article discusses Abd Zayd’s biography and some cultural framework of his people. The methodology of Qur’anic hermeneutic is the least his. Having examined the topic, the author finds that Abu Zayd believes that modem literary theory and criticism denote the way to understand and interpret the Qur’an ‘objectively’. The contribution of this research is discussing Abu Zayd’s contemporary religious discourse and his new approach to reading religious texts. Contribution: The contribution of this research is discussing Abu Zayd’s contemporary religious discourse and his new approach to reading religious texts. (shrink)

Indonesian Buddhism has many sects such as Theravada, Mahayana, Buddhayana, Tantrayana, Maitreya, Tridharma, Kasogatan, Nichiren and so on. These sects historically come from the same source, the Buddha's teachings, but now they have differences in terms of doctrines and practices. This article analyses the differences with regard to their doctrines and beliefs in relation to the concept of God as required by the Indonesian Constitution. The discussion focuses on the debate among three sects, namely, Buddhayana, Theravada and Mahayana, about the (...) name and nature of God and sources of doctrines on which they rely. The research was conducted in Jakarta and Bogor which focused mainly on the organisation of Nichiren Shoshu Indonesia (NSI). The data were collected through book and document study, observations and interviews with NSI followers. Additional data was performed in Bandung in 2019 by interviewing Buddhayana and Theravada adherents. The research finds that Buddhayana was successful in formulating the concept of God based on an old manuscript, Sang Hyang Kamahayanikan, so that Buddhism has met constitutional requirements and eventually has been accommodated as one of the official religions. However, it has been challenged by both Theravada and Nichiren, which rely on other sources of doctrines. CONTRIBUTION: This article contributes to the theological discourse among Buddhist sects, which are rarely discussed by Buddhist scholars. Buddhist adherents in Indonesia not only have political responsibility as required by the Constitution, but also have a socio-ethical responsibility in terms of religious tolerance both within and outside other religions. (shrink)

The present study was conducted as part of a larger study that aimed to compare moral judgment competence and moral preferences among Pakistani students of public and private sector educational institutes and religious institutes and also to measure the pattern of development of moral judgment competence of students within these institutes. The validation study completed in two phases, during the 1st phase data were collected from the students of grade 8 to 16 from public sector schools and colleges of Rawalpindi (...) city. Very low mean c-score was observed, the test came out to be valid on preference hierarchy criterion but its validity on the cognitive-affective parallelism and Quasi- simplex structure criteria could not be established due to low c-scores of the sample. In the second phase an additional sample from one private sector and two public sector universities was collected. The analysis of the combined sample showed no significant improvement of c-scores. The test meets well the preference hierarchy criterion but on the other two criteria results remain inconclusive due to low variance in the sample. The low c-scores are explained on the basis of three assumptions; poor quality of education, dogmatic religiosity, and weak and instable political structure of Pakistani society. (shrink)