Journal articles on the topic 'Islamic countries'
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Rehman, Scheherazade S., and Hossein Askari. "How Islamic are Islamic Countries?" Global Economy Journal 10, no. 2 (May 21, 2010): 1850198. http://dx.doi.org/10.2202/1524-5861.1614.
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In the post 9/11 era, there is growing interest in the complex relationship between religion, economics, finance, politics, law, and social behavior. This has brought with it a disagreement on how to investigate the impact of religiosity, whether religion affects the economic, political, and social outlook of countries or whether these factors affect religiosity? In other words, should religion be viewed as a dependent or an independent variable? In this paper we ask what we believe to be the precursor question to such linkages, namely, do self-declared Islamic countries, as attested by membership in the OIC (Organization of Islamic Conference), embrace policies that are founded on Islamic teachings? We believe that only once this question is addressed can one begin to estimate how Islam adherence to Islam may affect economic, political and social behavior. In the first part of the paper we present what we believe should be the characteristics and scaffolding of an “Islamic" country. We base our depiction on the Quran, and the life, practices and sayings of the Prophet Mohammad -- the two principal channels that provide Muslims with the road map. In the second part, we develop an index to measure the “Islamicity" of Islamic and non-Islamic countries. This IslamicityIndex (or I2) measures 208 countries adherence to Islamic principles using four sub-indices related to economics, legal and governance, human and political rights, and international relations.
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Amhar, Fahmi, and Eka Cahya Prima. "Resources of Islamic Countries." Jurnal Kajian Peradaban Islam 6, no. 1 (June 4, 2023): 77–82. http://dx.doi.org/10.47076/jkpis.v6i1.183.
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This study examines the potential outcomes of uniting the resources of Muslim countries. Despite the challenges in obtaining accurate data, various representative approaches are proposed. Among the institutions that collect such data is the Statistical, Economic and Social Research and Training Center for Islamic Countries (SESRIC), which is under the Organization of Islamic Cooperation. The analysis focuses on the sufficiency of energy, food, and industrial raw materials in Muslim nations. However, it emphasizes the need for adjustments to improve economic interdependence among these countries, reducing their reliance on developed nations that once colonized them. Furthermore, the study acknowledges the ongoing work required to tap into intangible resources effectively. The findings underscore the anticipated benefits and ease that can be achieved through collaborative efforts among Muslim countries, paving the way for improved resource utilization and collective advancement.
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Arianto, M. Solihin. "Islamic Knowledge Classification Scheme in Islamic Countries’ Libraries." Al-Jami'ah: Journal of Islamic Studies 44, no. 2 (December 30, 2006): 295. http://dx.doi.org/10.14421/ajis.2006.442.295-323.
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Beberapa sarjana Muslim pada periode Islam awal telah mencurahkan perhatian yang cukup besar dalam pengklasifikasian ilmu pengetahuan dengan tujuan mengorganisasikan pengetahuan yang dapat ditransmisikan dengan cara sistemik kepada generasi berikutnya. Upaya pengklasifikasian pengetahuan ini semestinya memberikan kontribusi yang cukup signifikan dalam lingkungan perpustakaan atau pusat informasi Islam, terutama untuk menempatkan disiplin pengetahuan tertentu atas sebuah dokumen dari seluruh organisasi pengetahuan yang ada. Di sisi lain, skema klasifikasi pengetahuan yang dihasilkan sarjana-sarjana Barat seperti DDC, LCC, dan UDC telah mendominasi lembaga-lembaga informasi di seluruh dunia termasuk negara-negara Islam. Bagaimanapun, akhirnya disadari bahwa skema-skema klasifikasi tersebut tidak memuaskan institusi-institusi informasi Islam karena mempunyai beberapa kelemahan dan perlakuan yang kurang memadai untuk mengorganisasikan dokumen-dokumen dalam bidang studi keislaman. Berkaitan dengan hal tersebut, tulisan ini berusaha mengkaji berbagai upaya yang telah dilakukan perpustakaan-perpustakaan beberapa negara Islam seperti Arab Saudi, Iran, Pakistan, Indonesia, dan Malaysia dalam mengembangkan skema klasifikasi pengetahuan Islam. Di samping itu, berbagai problem dan tantangan ke depan yang dihadapi perpustakaan-perpustakaan tersebut sebagai akibat sistem klasifikasi Islam yang diterapkan secara berbeda antara satu negara dengan lainnya juga dibahas dalam artikel ini.
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Gültekin, Murat, and Baki Akgül. "HPV screening in Islamic countries." Lancet Infectious Diseases 17, no. 4 (April 2017): 368. http://dx.doi.org/10.1016/s1473-3099(17)30126-3.
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Saputra, Dika, and Dewi Zaini Putri. "PENGARUH KEUANGAN ISLAM TERHADAP PERTUMBUHAN EKONOMI NEGARA BERPENDUDUK MAYORITAS ISLAM DI ASEAN." Jurnal Kajian Ekonomi dan Pembangunan 2, no. 1 (July 10, 2020): 129. http://dx.doi.org/10.24036/jkep.v2i1.8870.
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This study aims to look at the influence of Islamic finance on the economic growth of Muslim-majority countries in ASEAN. The data used is panel data over the 2004-2018 times period in the three Islamic Majority Country in ASEAN. The variable used are economic growth (Y), Islamic Financial Depth (X2), Islamic banking asset (X2), and Islamic Banking Activiti (X3). This research method uses panel data analysis. This study found that the Islamic Financial Depth variable had a signficant effect on economic growth, the variable Islamic banking asset and Islamic banking activities had a signficant effect on economics growth with alpha 0.05. Overall there is a signficant influence of Islamics financial variables on economic growth in Muslim-majority countries in ASEAN. Therefore, the government must support activity related to Islamic finance especially in Islamic banking so that the performance of Islamics banking can maximize and contribute to economic activity and encourage economic growth.
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Saputra, Dika, and Dewi Zaini Putri. "Pengaruh Keuangan Islam Terhadap Pertumbuhan Ekonomi Negara Berpenduduk Mayoritas Islam di ASEAN." Jurnal Kajian Ekonomi dan Pembangunan 2, no. 2 (June 1, 2020): 13. http://dx.doi.org/10.24036/jkep.v2i2.12636.
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This study aims to look at the influence of Islamic finance on the economic growth of Muslim-majority countries in ASEAN. The data used is panel data over the 2004-2018 times period in the three Islamic Majority Country in ASEAN. The variable used are economic growth (Y), Islamic Financial Depth (X2), Islamic banking asset (X2), and Islamic Banking Activiti (X3). This research method uses panel data analysis. This study found that the Islamic Financial Depth variable had a signficant effect on economic growth, the variable Islamic banking asset and Islamic banking activities had a signficant effect on economics growth with alpha 0.05. Overall there is a signficant influence of Islamics financial variables on economic growth in Muslim-majority countries in ASEAN. Therefore, the government must support activity related to Islamic finance especially in Islamic banking so that the performance of Islamics banking can maximize and contribute to economic activity and encourage economic growth.
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YUN, Eun Kyeong, Hee-Yul LEE, and Dong-Hwan KIM. "Is Halal Certification Necessary for Exporting to Islamic Countries? Focus on OIC Countries." Cultura 17, no. 1 (January 1, 2020): 173–92. http://dx.doi.org/10.3726/cul012020.0011.
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Abstract: Halal means permissible or lawful in Arabic and is applied to both the religious and daily life of Muslims. Islamic Law Shariah requires Muslims to consume halal products only. But with the expansion of supply chains around the world and the development of many new products, Muslim consumers have found it difficult to confirm whether food is halal or not. Also, as many foods are produced in non- Muslim countries and exported to Muslim countries, interest in halal certification in non-Muslim countries is increasing. With several Islamic countries strengthening their halal certification regulation for import in recent years, there is no accurate information on whether halal certification is necessary to export to Muslim countries or the Islamic State, and is lack of clear study of the definition of the Islamic State. Therefore, in this research, we will investigate the constitution and food import regulations of the Organization for Islamic Cooperation (OIC) member states, called the Union of Islamic States, to study the definition of Islamic State and whether halal certification is necessary for food exports.
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Hudaib, Mohammad. "Accounting for corruption within Islamic countries." Journal of Islamic Accounting and Business Research 11, no. 3 (March 11, 2020): 741–43. http://dx.doi.org/10.1108/jiabr-11-2017-0166.
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Purpose Despite the growing literature on corruption, little is known about what is happening in most Islamic countries. Hence, the purpose of this paper is to argue that focussing on the adopted politico-economical ideology such as neoliberalism contributes in understanding the root of corruption. Design/methodology/approach Critical realism of the state of corruption in Muslim countries and secondary sources available in the literature review help account for corruption within the local settings. Findings Corruption takes on various forms and functions in different contexts, and it can occur at the international and national arenas and at various layers of the state. The paper argues that the adopted neoliberal politico-economical strategy in Muslim countries is the main source of corruption. Research limitations/implications Corruption ranges from an act of payment that contradicts the law to an endemic malfunction of a political and economic system that may be attributed to individual moral or political or a combination of both. Hence, given the differences among Islamic countries, economic and political milieu case studies help explore the kind of corrupted leaderships in the particular country and how corruption is combated. Originality/value Corruption is a complex and multifaceted phenomenon. Accounting for corruption using neo-political lens is relatively new to the literature. Hence, this paper calls on accounting for evidence on how aspired autocratic leaderships in Muslim countries managed to personalise power and weaken the infrastructural apparatus that provide the necessary check and balance, thus facilitating the production of corruption on both the demand and supply sides.
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Lee, Ji-Seok, Oh-Suk Yang, Ji-Hyun Heo, and Jong-Wook Kwon. "Do Islamic countries have one culture?" Korean Review of Corporation Management 9, no. 1 (February 28, 2018): 31–54. http://dx.doi.org/10.20434/kricm.2018.02.9.1.31.
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Campbell, John C., and Heskel M. Haddad. "Jews of Arab and Islamic Countries." Foreign Affairs 64, no. 1 (1985): 191. http://dx.doi.org/10.2307/20042546.
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Yu Eidemiller, K., E. A. Samylovskaya, and R.-E. A. Kudryavtseva. "Islamic diffusion of Nordic countries: Sweden." IOP Conference Series: Earth and Environmental Science 180 (August 10, 2018): 012005. http://dx.doi.org/10.1088/1755-1315/180/1/012005.
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Lee, Grace H. Y. "Gold dinar for the Islamic countries?" Economic Modelling 28, no. 4 (July 2011): 1573–86. http://dx.doi.org/10.1016/j.econmod.2011.02.005.
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Saharuddin, Desmadi, and Meirison Meirison. "Islamic Banks In Muslim Countries And Indonesia." Al Iqtishod: Jurnal Pemikiran dan Penelitian Ekonomi Islam 11, no. 1 (February 6, 2023): 66–83. http://dx.doi.org/10.37812/aliqtishod.v11i1.577.
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This article aims to provide an overview of Islamic banking, which has shed light on Muslims in avoiding usury with inflation and oppression. The negative impact of cartels can be reduced. Suppose traditional banks have only one way to work, interest-bearing loans, although in many forms. The problem inherent in Islamic banking activities is whether they can be separated from the influence of conventional banks in various activities carried out, given the interrelationships between Islamic banks and traditional banks. By conducting a literature study, we analyzed banking data contained in documents, books, and journals using a qualitative approach using descriptive analysis methods. We try to provide an interpretation of the work of Islamic banks operating in various Islamic worlds and Indonesia. We found Islamic banks to be less compliant with the fatwas and instructions given by the existing Islamic boards. We find that Islamic banks have difficulty complying with shari'ah rules because they are constrained by the conventional banking financial system full of usurious Mu'amalah. Constrained by capital from the central bank, high operating costs, investment problems in the real sector, risk of loss and others. The focus of this research is the causes of the condition of Islamic banks in the Islamic world, which are trapped in a Ribawi labyrinth
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Rossi, Adriano V. "Alessandro Bausani and ‘Muslim Languages’, Forty Years After." Eurasian Studies 18, no. 1 (September 23, 2020): 194–210. http://dx.doi.org/10.1163/24685623-12340092.
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Abstract Resorting to personal memories from the 1960s, 1970s and 1980s, the author, who defended in 1971 at the University of Rome a thesis entitled Iranian Elements in Brahui, under Prof. Bausani’s direction (later revised and published under the title Iranian lexical elements in Brāhūī [Naples: Istituto Universitario Orientale, 1979]), reconstructs the political and cultural climate in which – at the end of the 1970s – a major subject of enquiry was the problem of the nature of the national unity among the countries of the Arab world. At the urging of Biancamaria Scarcia, Bausani decided to publish at the Institute of Islamic Studies of the University of Rome a volume of historical and linguistic essays coordinated by himself and B. Scarcia (Mondo islamico tra interazione e acculturazione [Roma: Istituto di studi islamici, 1981]). In this volume, Bausani published an essay on the concept of ‘Islamic language’ that took stock of his previous proposals made over more than twenty years (starting with his speech at the 1966 Ravello conference on a comparative history of the Islamic literatures). The author demonstrates that notwithstanding his use of linguistic terminology, Bausani’s main interest has always been the investigation of the possibility of identifying minimum distinctive traits present in the different literary typologies of various countries of Islamic culture.
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Elfaki, Hamida, and Nor Azizan Che Embi. "ISLAMIC COOPERATIVES: OPERATIONS AND EVIDENCE FROM ORGANIZATION OF ISLAMIC COOPERATION (OIC) COUNTRIES." International Journal of Islamic Business 8, no. 1 (June 22, 2023): 1–14. http://dx.doi.org/10.32890/ijib2023.8.1.1.
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The Islamic finance industry has only been dominated with Islamic banking, Takaful, Islamic capital, and the money market, although, the Islamic cooperative (I-Coop), which is a non-financial institution in most cases is yet to be fully adopted in the contemporary Muslim societies. The Islamic cooperative can be a development reform tool or a social and economic growth method, it can be used to offer interest-free loans and to cover specific demands in rural and urban settings. The main purpose of this study is to investigate Islamic cooperative operations in some OIC countries. This study adopted the content analysis method by reviewing literature as the evidence to demonstrate and provide insights into various critical factors that have prompted the establishment of Islamic cooperatives in some OIC countries. Samples of literature for OIC countries were found and examined. Three I-Coop membercountries were given focus to (Malaysia, Indonesia, and Nigeria). The findings show that Islamic cooperatives only exist in few OIC countries. It was found that the OIC countries have emphasised more on operating Islamic banking rather than Islamic cooperatives. It was also noticed that the lack of the well-regulated Islamic cooperatives in these countries is due to lack of the government support to established it. However, in Nigeria, the Islamic cooperative is considered new, but the study found various types of Islamic cooperatives already operating there. Lastly, based on the experiences of the Islamic cooperatives in the selected countries, the study suggested creating more awareness, promotions, and guidelines most especially within the OIC countries.
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Ataullah, Siddiqui. "Islamic Studies." Context: Journal of Interdisciplinary Studies 6, no. 2 (March 15, 2022): 47–54. http://dx.doi.org/10.55425/23036966.2019.6.2.47.
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This paper seeks to contribute to an understanding of the challenges and the future of Islamic Studies in the contemporary European countries. The paper begins with a brief explanation of the ‘Islamic Studies’ and ‘Islamic Sciences’ terms development. Also, it is discussing the challenges and the future of educational institutions in Western Europe in terms of the process of transmitting the knowledge and its recognition within the legal systems of European countries. Finally, the paper encourages the actors of higher Islamic education in Europe to create a new language of research and learning trough the dialogue of different epistemologies and to offer a new definition of Islamic studies that will reflect the congruence with the contemporary trends.
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Muhammad, Izlawanie. "Analysis of Zakat System in High-Income Islamic Countries." Journal of Muamalat and Islamic Finance Research 16, no. 2 (December 2, 2019): 1–11. http://dx.doi.org/10.33102/jmifr.v16i2.219.
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Many Islamic countries are facing zakat governance issues including transparency, trust, inconsistency of zakat law with al-Quran and hadith, non-compliance and bureaucracy. Despite of the ongoing issues, little is known about zakat system in Islamic countries particularly the high-income Islamic countries. The high-income Islamic countries should be exemplary models to other Islamic countries as they have unlimited resources to build a dynamic zakat system that includes participation from renowned Islamic scholars to give opinions and fatwa on zakat law and the use of modern technologies to promote transparency and compliance. This study adopts a content analysis technique to analyse zakat system in seven high-income Islamic countries – Bahrain, Brunei Darussalam, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. The data of zakat governance, zakat collection, zakat distribution, transparency, use of modern technology, issues and recognitions for each country were collected and analysed. This study added value to the minimal zakat system literature in Islamic countries. It is hoped that a harmonized zakat system can be adopted by Islamic countries and a strong commitment by all Islamic countries members to help asnaf particularly those who live in the under-developed countries.
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CHEN, NAIWEI, and TSAI-CHEN YANG. "Islam and Democracy – A Dynamic Perspective." Japanese Journal of Political Science 17, no. 3 (August 12, 2016): 329–64. http://dx.doi.org/10.1017/s146810991600013x.
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AbstractThis study examines the relationship between Islam and democracy with emphasis on the issue of whether and how Islam has bearings on democratic adjustment speed. Using comprehensive data on 17 Asian countries from 1996 to 2010, the study demonstrates that religion is a significant factor for determining democracy. Results indicate that the level of democracy in Islamic countries is generally lower than that in non-Islamic countries. However, the level of democracy in Islamic countries exhibits an upward trend, whereas that in non-Islamic countries displays a downward trend. Moreover, when benchmark variables are controlled, democratic adjustment in Islamic countries is faster than in non-Islamic countries. Hence, despite the current lower level of democracy in Islamic countries, the results of this study refute the conventional wisdom that Islam hinders democracy. Instead, Islamic countries are highly malleable and exhibit a potential for faster democratic development compared with non-Islamic countries. Results further suggest that Islamic countries can effectively promote democracy by improving education, minimizing the gender gap, controlling population growth, or becoming an oil exporter similar to non-Islamic countries. However, Islamic countries likely own an additional unique advantage in effectively improving democracy – that is, promoting urbanization. This aspect is in contrast to non-Islamic countries where urbanization plays no role in determining democracy.
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Kostyaev, S. "Lobbyism of Islamic Countries in the USA." World Economy and International Relations, no. 9 (2012): 90–99. http://dx.doi.org/10.20542/0131-2227-2012-9-90-99.
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Mass disturbances that took place in the Middle East and North Africa in 2011 offer an opportunity to evaluate the effectiveness of lobbyism in countries of this region as a tool to provide the American assistance in a volatile environment. Almost all these countries in a varying degree tried to gather support from the USA to preserve the legitimacy of their regimes in the international field. The author investigates the factors influencing the performance of lobbying technologies, evaluates the effectiveness of Muslim countries' attempts to protect their interests in Washington.
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Andreu Escario, Angel. "Doing business in Islamic countries: an overview." Journal of the Sociology and Theory of Religion 9 (January 20, 2020): 32–46. http://dx.doi.org/10.24197/jstr.0.2020.32-46.
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The access of Western companies -in particular the Spanish ones- to countries and markets where strong presence of Islam religion is consistent and significant. The relevance of this business target and model is growing, due to the combination of several factors: the relative higher growth of this religion and the prevalence of the religious practices in the economies and cultures, the more accelerated (on average) economic development despite the specific crisis and oil price turmoil, the international expansion of partnerships and foreign investments that many of these countries are addressing, the consolidation of a synergic “Islamic economy and business practice” usually restrained and limited to similar Islamic countries but nowadays more tolerant to non-Islamic ones, and the progressing opening of these countries and economies to global rules of commerce, intellectual property, business ownership and international operations. There is kind of a global consensus on the positive forecast of these trends, that will make the key direction of development of most of these countries in the next years.
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Kim, Jongwon. "The Study on Takaful in Islamic Countries." Journal of The Korean Society of Disaster Information 11, no. 1 (March 31, 2015): 121–33. http://dx.doi.org/10.15683/kosdi.2015.11.1.121.
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Xuewen, QIAN, and WU Yihong. "The “Islamic Cultural Exception” of GCC Countries." Journal of Middle Eastern and Islamic Studies (in Asia) 9, no. 1 (March 2015): 54–77. http://dx.doi.org/10.1080/19370679.2015.12023257.
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Lassen, Kristoffer, Bjørn Atle Bjørnbeth, Pål-Dag Line, Andreas Abildgaard, Jon Arne Søreide, Kim Mortensen, Jon Erik Grønbech, Erling Bringeland, and Arild Horn. "Trump's ban on colleagues from Islamic countries." Lancet 389, no. 10071 (February 2017): 804. http://dx.doi.org/10.1016/s0140-6736(17)30323-9.
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Moten, Abdul Rashid. "Social Justice, Islamic State and Muslim Countries." Cultura 10, no. 1 (January 1, 2013): 7–24. http://dx.doi.org/10.5840/cultura20131011.
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Anoruo, Emmanuel, and Ferdinand Nwafor. "Income Convergence: Evidence from Select Islamic Countries." International Advances in Economic Research 12, no. 4 (September 14, 2006): 555. http://dx.doi.org/10.1007/s11294-006-9050-2.
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Bagheri, Alireza. "Priority Setting in Islamic Bioethics: Top 10 Bioethical Challenges in Islamic Countries." Asian Bioethics Review 6, no. 4 (2014): 391–401. http://dx.doi.org/10.1353/asb.2014.0031.
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Khaled, Amgad S. D., Najat Shakir Mahmood, and Fozi Ali Belhaj. "Islamic Human Resource Management in Gulf Countries: A Literature Review." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 20 (February 28, 2023): 514–25. http://dx.doi.org/10.37394/23207.2023.20.47.
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This paper explores the nature and substance of Islamic management practices in Arab countries. It also examines the impact of globalisation on multinational (MNC) companies operating in Islamic countries. Understanding Islamic management principles helps build a more suitable model of best practice management in Arab and Islamic countries. The study argues that reverse management skills delivery by MNC managers is crucial to successful human resource management in host countries. It adds to the comparatively limited literature on Islamic management by presenting issues critical to advancing Western Islamic management systems. It concludes that the incompatibility between global integration and local obligations is a key reason for the lack of progress in most Arab and Islamic countries.
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Othman, Norfaizah, Mariani Abdul-Majid, and Aisyah Abdul-Rahman. "Determinants of Banking Crises in ASEAN Countries." Journal of International Commerce, Economics and Policy 09, no. 03 (October 2018): 1850009. http://dx.doi.org/10.1142/s1793993318500096.
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This paper attempts to estimate the determinants of crises on Islamic banking system during financial crises using early warning system (EWS) with particular focus on the element of profit–loss sharing. Profit–loss sharing has significant impact in reducing crisis probability experienced by the Islamic banking system. This suggests that profit–loss sharing may be considered as one of the risk mitigation techniques for bank to remain resilient during the crises. The results further show that full-fledged Islamic banks have higher chances of experiencing crises relative to the Islamic subsidiaries banks. In addition, economic freedom and overvaluation in the currency are more likely exposed to banks to the crises.
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Qizam, Ibnu, Misnen Ardiansyah, and Abdul Qoyum. "Integration of Islamic capital market in ASEAN-5 countries." Journal of Islamic Accounting and Business Research 11, no. 3 (January 11, 2020): 811–25. http://dx.doi.org/10.1108/jiabr-08-2019-0149.
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Purpose The purpose of this study is to investigate the nature and integration of Islamic stock markets across the Association of Southeast Asian Nations (ASEAN-5) countries for economic community (AEC) development. Design/methodology/approach Using samples of daily closing prices from 2009 to 2014 across ASEAN-5 countries, co-integration and Granger-causality tests were applied. Findings This research finds that Islamic capital markets across ASEAN-5 countries remain highly integrated despite the global financial crisis of 2008, and it also finds the integration strength between Jakarta Islamic Index -Indonesia and Bursa Malaysia Emas Sharia-Malaysia Islamic capital markets to be the most influential across ASEAN-5 countries, while MSCI-Philippine Islamic capital market is the most vulnerable across ASEAN-5 Islamic capital markets. Research limitations/implications The overwhelming benefit of Islamic stock market integration across ASEAN-5 countries, and, even in a broader context, awaits further inquiry. Originality/value Islamic capital markets across ASEAN-5 countries are integrated regardless of the post-global financial crisis. This contributes to confirming cross-border integration policies, especially for AEC development.
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ÇETİN, Dilşad Tülgen. "Development of Islamic Finance in Non-Muslim Countries, Challenges and Recommendations." Bucak İşletme Fakültesi Dergisi 5, no. 2 (October 30, 2022): 319–40. http://dx.doi.org/10.38057/bifd.1128903.
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The crisis-resistant structure of the Islamic finance sector and the rich fund resources of the Gulf countries attract non-Muslim countries as well as countries with a large Muslim population. The aim of this study is to examine the development of the Islamic finance sector in non-Muslim countries, to define the challenges encountered in these countries in terms of Islamic finance and to offer constructive recommendations to overcome these challenges. The scope of the study is limited to the UK, USA and Canada, which are among the top non-Muslim countries in the Islamic finance country index, and Luxembourg, which has broken grounds in Islamic finance in Europe. Incompatibility of legal regulations in non-Muslim countries with Islamic principles, lack of qualified Shariah advisors, insufficient standardization of Islamic financial products, incompatibilities in financial reporting and accounting policies are among the difficulties encountered. With the efforts of governments and international Islamic financial institutions to overcome these obstacles over time, Islamic financial markets in non-Muslim countries are expected to develop significantly.
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Mawardi, Wisnu, Mahfudz Mahfudz, Rio Dhani Laksana, and Intan Shaferi. "Risk Hazard of Banking in Emerging Countries." WSEAS TRANSACTIONS ON SYSTEMS 21 (December 31, 2022): 372–81. http://dx.doi.org/10.37394/23202.2022.21.41.
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The development of Islamic banking has been examined. Many researchers have been dedicated to researching how this growth generates microeconomic consequences on financial institution efficiency. This paper embodies a comprehensive analysis of Basel II standard implementation impacts gap in hazards between Islamic and conventional banks in Asia countries (Indonesia, Malaysia, Singapore, Thailand, and Philippines, Brunei Darussalam). Basel II requirements make contributions to expand the distance in hazard between conventional banks and Islamic Banks at the rate of the latter. Four arguments may be supplied to provide an explanation for why Basel II requirements can contribute to making Islamic banks exceptionally riskier than conventional banks. the connection between Islamic banking and hazard is conditional on the regulatory framework. A mapping descriptive examination analyzing the international locations of every form of bank and the 12 months of implementation of Basel II regulation. This method was utilized in the Basel II implementation in a few of the Asia nations of our pattern for the duration of the length of examination from 2015 to 2020. The treatment group consists of banks in nations with an implementation of Basel II for the precise year with a substantial 10%; those findings also are located whilst one by one thinking about small banks and massive banks, therefore, assisting the view that the connection between Islamic Banking And Hazard is conditional to the regulatory framework.
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Syarif, Ahmad. "Export-Led Growth Hypothesis: Comparison Between Islamic and Non-Islamic Countries in ASEAN." Global Review of Islamic Economics and Business 3, no. 1 (December 31, 2016): 046. http://dx.doi.org/10.14421/grieb.2015.031-04.
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This study aims to prove and analyze the effect of export growth on economic growth in the ASEAN countries. Using annual data from 2004 to 2014, the empirical result shows that export growth is significant and gives positive impact on the economic growth in ASEAN. However, investment and labor-force are less to affect the economic growth in ASEAN. This study also provides strong evidence that supports the hypothesis of export-led growth as described by Nurkse (Moon, 1997). Export-led growth is an economic strategy that is also used by Islamic countries in ASEAN. Export-led growth has two important reasons, it can generate profits and allow countries to balance their finances and the export growth can lead to greater productivity. This is consistent with the macro theory assumes that exports are injection to the economy (McCombie et al, 1994).
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Rokeman, Nur Syahirah, and Wahida Ahmad. "Capital Decision of Islamic Banks in Developing Countries." Environment-Behaviour Proceedings Journal 9, SI19 (March 10, 2024): 23–28. http://dx.doi.org/10.21834/e-bpj.v9isi19.5762.
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The study investigates capital decisions of Islamic banks in developing countries. The study uses 96 Islamic banks in developing countries from period of 2007 to 2021. By applying the random effect model with cluster regression, the findings reveal that all variables are found to be negatively correlated with the capital buffer. The results recommend regulators in developing countries to ensure Islamic banks maintain consistent capital ratios at all times to address the moral hazard issue that is apparent in larger banks. In response to economic cycles, Islamic banks are also encouraged to manage their capital buffers in a counter-cyclical manner.
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Grassa, Rihab, and Kaouthar Gazdar. "Financial development and economic growth in GCC countries." International Journal of Social Economics 41, no. 6 (June 3, 2014): 493–514. http://dx.doi.org/10.1108/ijse-12-2012-0232.
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Purpose – The purpose of this paper is to compare the effects of Islamic financial development and conventional financial development on the economic growth for five GCC countries (Bahrain, Kuwait, Qatar Saudi Arabia and UAE). Design/methodology/approach – Using generalized least squares, OLS and panel data frameworks, this paper employs different measures of financial development for the period (1996-2011). Findings – Empirical results strongly support the hypothesis that Islamic finance leads to growth in the five GCC countries, however, no significant relationship observed between conventional financial development and growth. Practical implications – The findings of this paper suggest the need to accelerate the financial reforms for Islamic finance that have been launched in the region since the last decade and to improve the efficiency of these countries’ Islamic financial systems to stimulate saving/investment and, consequently, long-term economic growth. Originality/value – This study has several contributions to the existing literature. To the best of the authors’ knowledge, this paper is the first study that examines empirically the effect of Islamic finance on economic growth in GCC countries. As well, this paper is the first to compare the different effects of Islamic finance and conventional finance on economic growth on a context of countries having the most developed Islamic financial system in the world operating side-by-side with a conventional financial system.
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Musleh Alsartawi, Abdalmuttaleb. "Performance of Islamic banks." ISRA International Journal of Islamic Finance 11, no. 2 (December 9, 2019): 303–21. http://dx.doi.org/10.1108/ijif-05-2018-0054.
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Purpose This paper aims to investigate the relationship between the composition of Sharīʿah supervisory boards (independence and frequency of meetings) and the performance of Islamic banks in the Gulf Cooperation Council (GCC) countries. Design/methodology/approach The study developed a multiple linear regression model, and data were collected from the annual reports of 48 standalone Islamic banks listed in the GCC countries covering the period between 2013 and 2017. Findings The results showed a statistically significant and negative relationship between the composition of the Sharīʿah supervisory boards and the performance of Islamic banks. Research limitations/implications As the current study used only one indicator, that is Return on Assets to measure performance, it is recommended to expand the framework of this study, through the addition of market-based performance indicators such as Tobin’s Q. Practical implications This study recommends the GCC countries to follow a more proactive Sharīʿah governance model to strengthen their frameworks from both regulatory and non-regulatory aspects. Originality/value The study contributes to the Sharīʿah governance and Islamic banking literature relating to the GCC countries as previous studies gave no attention to the composition of Sharīʿah supervisory boards.
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Grassa, Rihab, and Hamadi Matoussi. "Corporate governance of Islamic banks." International Journal of Islamic and Middle Eastern Finance and Management 7, no. 3 (August 12, 2014): 346–62. http://dx.doi.org/10.1108/imefm-01-2013-0001.
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Purpose – This paper aims to understand the current governance practices and governance structure of Islamic banks (IBs) in Gulf Cooperation Council (GCC) and Southeast Asia countries with the purpose of providing relevant information in guiding the future development of the governance system for IBs. As well, the paper discusses and compares the state of the governance system in GCC countries (Kuwait, Bahrain, United Arab Emirates, Qatar and Saudi Arabia) and Southeast Asia countries (Malaysia and Indonesia). Design/methodology/approach – The study utilizes descriptive analysis approach in extracting and analyzing data collected for 83 IBs observed for the period 2002-2011. The authors test for differences in means and medians of corporate governance attributes between a sample of IBs in GCC countries and another one for Southeast Asia countries. They use selected variables of corporate governance of different governance structures, namely, the ownership structure, the board of directors, the Shariah board and the CEO attributes. Findings – The paper findings argue that there are significant differences and divergence of corporate governance structure of IBs in GCC countries and those in Southeast Asia countries. This position acknowledges that there are shortcomings to the existing governance framework for IBs which needs further improvement and standardization. Practical implications – The paper is a very useful source of information that may provide relevant guidelines in guiding the future development of corporate governance of IBs. As well, the paper provides relevant guidelines for improving regulations and laws covering the governance of IBs. Originality/value – This paper provides fresh data and recent information on the actual corporate governance system in IBs in GCC and Southeast Asia countries. As well, the paper discusses a significant shortage in corporate governance literature of Islamic finance.
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Nurrachmi, Rininta. "THE POTENTIAL INDUSTRY OF ISLAMIC TOURISM IN SOUTHEAST ASIAN (SEA) COUNTRIES." International Journal of Islamic Business Ethics 4, no. 2 (September 30, 2019): 627. http://dx.doi.org/10.30659/ijibe.4.2.627-639.
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Southeast Asian (SEA) countries is rich with natural resources and historical heritage. The high number of Muslim populations in SEA countries can be a potential revenue to promote Islamic tourism. This study aimed to examine the potential of Islamic tourism industry as alternative revenue and it seeks to investigate the effective and efficient way to promote Islamic tourism in SEA. There are many potential factors that promote Islamic tourism in SEA countries. Push and pull factors influence Muslim tourists is deciding which place they want to visit. Collaboration and coordination among SEA countries can enhance Islamic tourism the developing of Islamic tourism in the region eventually economic benefit can be gained to enhance the countries� revenue.
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Masood, Omar, Bora Aktan, and Qazi Awais Amin. "Islamic banking: a study of customer satisfaction and preferences in non-Islamic countries." International Journal of Monetary Economics and Finance 2, no. 3/4 (2009): 261. http://dx.doi.org/10.1504/ijmef.2009.029063.
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Chazi, Abdelaziz, Ashraf Khallaf, and Zaher Zantout. "Corporate Governance And Bank Performance: Islamic Versus Non-Islamic Banks In GCC Countries." Journal of Developing Areas 52, no. 2 (2018): 109–26. http://dx.doi.org/10.1353/jda.2018.0025.
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Alvi, Mohsin Hassan, and Syed Shabib ul Hassan. "Analyzing the Financial Trends of Islamic and Non Islamic Emerging Markets of South Asia." Journal of Accounting and Finance in Emerging Economies 7, no. 2 (June 30, 2021): 427–34. http://dx.doi.org/10.26710/jafee.v7i2.1782.
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The aim of the study is to explore the trends of organizations performance of Islamic and Non-Islamic South Asian countries. Out of 8 south Asian countries, 4 were selected those play a vital role in economic development of south Asia. Pakistan and Bangladesh were taken as Islamic ruling countries, whereas, India and Sri Lanka were taken as non-Islamic countries. 10 years of data before COVID-19 pandemic from organizations listed in stock markets were gathered on annual basis. Efficiency and profitability ratios were taken as variables. Augmented dickey fuller unit root test was used to interpret the stationary in data. Data was found volatile in South Asian countries organization in terms of efficiency and profitability ratios. Results revealed that purchasing power among people of South Asia increased in terms of buying commodities as the stationarity in stock inventory did not investigate and it inclined with consistent growth gradually. Future studies are possible with a different methodology (graphical representation and other associations) and contexts (other than South Asia) with induction of sample size.
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Qizam, Ibnu, Abdul Qoyum, and Misnen Ardiansyah. "Global Financial Crisis and Islamic Capital Market Integration among 5-ASEAN Countries." Global Review of Islamic Economics and Business 2, no. 3 (February 6, 2015): 207. http://dx.doi.org/10.14421/grieb.2015.023-04.
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Islamic Capital Market is important part of Financial System in ASEAN countries especially in the context of AEC. The objective of this paper is to investigate interconnection long run equilibrium of Islamic Capital Market in ASEAN Countries. Using daily closing price for from September 2007 to October 2012, this study examine five Islamic Capital markets in ASEAN namely Indonesia, Malaysia, Philippines, Singapore and Thailand. This study examines on Integration among these Islamic Capital markets by relies a simple correlation test, Granger causality test and co-integration test using error correction model. This research documents some interesting finding. First, Using Johansen estimation technique, there is co-integration between the considered Islamic indices namely; Indonesia, Malaysia, Philippines, Singapore and Thailand. Second, Since the co-integration exists, granger causality test shows that there is three bi-directional causalities namely; between Malaysia Islamic Capital Market and Singapore Islamic Capital Market; between Thailand Islamic Capital Market and Singapore Islamic Capital Market; and between Singapore Islamic Capital Market and Philippines Islamic Capital Market. However, there is a unidirectional between Indonesia Islamic Market (MCIINA) and Malaysia Islamic Market (MCIMY), MCIINA and Philippines Islamic Market (MCIPhil), MCIINA and Thailand Islamic Market (MCITHAI), it implies that MCIINA affects MCIMY, MCIPhil, and MCIThai but not vice versa. Third, based on VECM suggest that all Islamic indexes are inter-related in the long run that can be explained due to the similarity of structure bring about by its stock as required by shariah in the process stock screening.
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Ernawati, Ernawati, and Mansyur Asri. "Knowledge and Awareness of Islamic Financial in Europe And America Countries." IQTISHADIA 13, no. 1 (May 28, 2020): 23. http://dx.doi.org/10.21043/iqtishadia.v13i1.7207.
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<p><em>This study aims to determine the correlation between knowledge and awareness with industrial development, state religious status and state location. The data is sourced from secondary references of IFG-IFDI publication for the 2019 period on 42 countries in the European and American Continent. Data is processed through correlation analysis. The results show that Islamic financial knowledge correlates with the level of scientific awareness. Islamic financial knowledge and awareness of Islamic finance are positively correlated with the development of 4 (four) segments of Islamic finance, namely: Islamic banking, takaful, other Islamic finance, and sukuk; and does not correlate with the Islamic funds. The countries with a Muslim majority population will be more active in developing activities related to the Islamic financial industry. There other side, there is no significant correlation between knowledge and awareness of Islamic finance with the continet location of the country. The research findings recommend an inclusive awareness movement so that it unites the academic and the public aspects in Islamic financial campaigns.</em></p><p><em><br /></em></p>
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Aminy, Muhammad Muhajir, and Ahmad Sauqi. "The Determinants of Islamic Banks’ Stock Prices: Evidence from the GCC Countries." Jurnal Ilmiah Ekonomi Islam 6, no. 3 (October 28, 2020): 535. http://dx.doi.org/10.29040/jiei.v6i3.1284.
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Islamic banks’ stock is a new interesting material to be discussed among Islamic economics scholars. The majority of Islamic banks’ stocks presents in the middle-east countries, especially those which are joining as the Gulf Cooperation Council (GCC) countries. Samples in this study were 10 Islamic banks in the Gulf Cooperation Council (GCC) countries with secondary data from their financial report. A panel data regression analysis was employed to seek the influence of all observed variables (ROA, ROE, and ICSR (zakat)) as the determinant factors toward Islamic banks’ stock prices. The study found that all the independent variables simultaneously have an impact on Islamic banks’ stock prices in that area. The study also found that the variable of ROA has a negative significant impact, the variable of ROE has a positive significant impact, and ICSR (zakat) has an insignificant impact on Islamic banks’ stock prices in the GCC countries. This study suggested all Islamic banks globally to consider investors’ sentiment on Islamic banks’ financial condition before entering the Islamic capital market
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Moten, Abdul Rashid. "Striving for Islamic governance." American Journal of Islamic Social Sciences 32, no. 2 (April 1, 2015): 68–89. http://dx.doi.org/10.35632/ajiss.v32i2.267.
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Muslim-majority countries are striving with some success to reshape their governance models along Islamic lines. Some countries have opted for implementing the Shari‘ah, whereas others have focused on applying personal status laws. This study analyzes the attempts made by specific leaders in the Islamic Republic of Pakistan, the secular Republic of Turkey, and multi-ethnic Malaysia to improve their governance models in the areas of human, economic, and social development. As these countries adopted different strategies, the resultant models of Islamic governance are due largely to the contexts and features of their respective societies. Unlike Pakistan’s authoritarian top-down approach, Turkey and Malaysia largely embraced democratic principles, operated a new hybrid economic model that combined the characteristics of Islamic and capitalist market systems, and worked closely with the West. Many consider these two models, although “partial” in their approach, to be examples of open and democratic Islamic governance that are relatively appreciated by the West. Keywords
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Moten, Abdul Rashid. "Striving for Islamic governance." American Journal of Islam and Society 32, no. 2 (April 1, 2015): 68–89. http://dx.doi.org/10.35632/ajis.v32i2.267.
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Muslim-majority countries are striving with some success to reshape their governance models along Islamic lines. Some countries have opted for implementing the Shari‘ah, whereas others have focused on applying personal status laws. This study analyzes the attempts made by specific leaders in the Islamic Republic of Pakistan, the secular Republic of Turkey, and multi-ethnic Malaysia to improve their governance models in the areas of human, economic, and social development. As these countries adopted different strategies, the resultant models of Islamic governance are due largely to the contexts and features of their respective societies. Unlike Pakistan’s authoritarian top-down approach, Turkey and Malaysia largely embraced democratic principles, operated a new hybrid economic model that combined the characteristics of Islamic and capitalist market systems, and worked closely with the West. Many consider these two models, although “partial” in their approach, to be examples of open and democratic Islamic governance that are relatively appreciated by the West. Keywords
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Ben Mohamed, Ezzeddine, Neama Meshabet, and Bilel Jarraya. "Determinants of technical efficiency of Islamic banks in GCC countries." Journal of Islamic Accounting and Business Research 12, no. 2 (February 17, 2021): 218–38. http://dx.doi.org/10.1108/jiabr-12-2019-0226.
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Purpose This study aims to discuss the determinants of Islamic banks’ efficiency. It tries to explore the source of Islamic banks’ inefficiencies to propose solutions to guarantee an acceptable level of technical efficiency of such banks in Gulf Cooperation Council (GCC) countries. Design/methodology/approach To achieve this objective, the authors use a parametric approach, especially, the stochastic frontier approach, using production function and panel data analysis. The authors apply a package Frontier 4.1 for the estimation process, which is composed of two principal steps. In the first step, the authors estimate Islamic banks’ efficiency scores in different GCC countries based on an output distance function. In the second step, the analysis highlights the impact of managerial-specific education on Islamic accounting and finance, scarcity of Sharīʿah scholars, the board independence and chief executive officers’ (CEOs) duality on GCC Islamic banks’ efficiency. Findings This study’s results document that managerial-specific education on Islamic accounting and finance and the board of directors’ composition, especially, the board’s independence, can largely explain the technical efficiency scores of Islamic banks in GCC countries. Especially, the authors find evidence that managerial-specific education is negatively associated with the inefficiency term. The coefficient of the Sharīʿah scholar’s variable has a positive sign indicating that the more there are Sharīʿah experts, the more the bank is efficient. In addition, CEOs’ duality seems to have no significant effect on GCC Islamic banks’ efficiency. Practical implications GCC Islamic banks need to improve the presence of independent members on the board of directors. In addition, these banks are invited to count more on Sharīʿah auditors and educated staff characterized by a high level of competency in the domain of Islamic banking and finance. Originality/value To the best of the authors’ knowledge, this is the first study that highlights the effect of managerial-specific education in Islamic accounting and finance and scarcity of Sharīʿah scholars on Islamic banks’ efficiency.
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Othman, Kamarudin, Jamilah Binti Laidin, and Nor Azira Ismail. "Determinants of Islamic Bank Credit Risk in ASEAN Countries." Journal of Emerging Economies and Islamic Research 8, no. 3 (September 30, 2020): 1. http://dx.doi.org/10.24191/jeeir.v8i3.8851.
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Ialamic banking system have been establish more than 30 years ago around the world. However, until today it still facing a lot of obstacles especially in term of credit risk. Thus, the aims of this study is to examine the external (macroeconomic) and internal economic factors that influencing Islamic bank credit risk in ASEAN countries. By using 29 of Islamic banking data in ASEAN from years 2011 until 2018, panel data model was applied in this study. The results from the long run regression of FLOMS, DLOS and PMG suggest management efficiency (MGT) and capital ratio (CR) are the internal factors affects the credit risk of ASEAN Islamic bank. Economic growth, inflation and interest rates are external factors that also found could influencing the Islamic bank credit risk. More research ought to be carried out so that one can understand how credit risk is created in Islamic banking. The finding obtained will provide the further understanding of how Islamic banks should tackle the obstacles they face in order to manage their credit risk
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Muhammadong, Muhammadong, Ichsani Ichsani, Yasriuddin Yasriuddin, Wahyudin Wahyudin, and Husriani Husain. "THE PHENOMENON OF ISLAMIC EDUCATION IN MUSLIMS COUNTRIE." Academy of Education Journal 14, no. 2 (August 15, 2023): 928–37. http://dx.doi.org/10.47200/aoej.v14i2.1920.
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The aims of this research is to find out the phenomenon of Islamic education in Muslim countries. In general, Islamic education is education that is oriented towards the teachings of the Qur'an and the hadith of the Prophet saw. Islamic education is not only taught in the formal legal system which is carried out regularly but becomes a teaching that must be implemented in social life. In Muslim countries, Islamic Education is used as a formal education that must be completed based on government regulations. It is undeniable that Islamic education in Muslim countries has adopted a system of modernity so that Islamic education is oriented towards fulfilling physical needs. However, with this modernity, Islamic Education takes on a role as a practical function in realizing Islamic teachings as the absolute truth of Allah SWT.
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Glavina, Sofya, Irina Aidrus, and Anna Trusova. "Assessment of the Competitiveness of Islamic Fintech Implementation: A Composite Indicator for Cross-Country Analysis." Journal of Risk and Financial Management 14, no. 12 (December 13, 2021): 602. http://dx.doi.org/10.3390/jrfm14120602.
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Islamic fintech is growing fast, especially in the Organisation of Islamic Cooperation (OOIC) member countries. In recent years, it has become one of the driving forces for the Islamic financial industry. Though the pandemic negatively affected global financial business, including conventional and Islamic segments, Islamic fintech has continued its steady development. i-Fintech increases access to Islamic financial services and financial inclusion in general to provide ESG-rich investment opportunities. The rise of Islamic fintech can help countries become financial hubs and promote sustainable development goals. This paper is aimed at designing an original composite indicator of the competitiveness of Islamic fintech adoption in order to perform a comprehensive assessment of the competitive advantages that are being used across various countries. The research methodology includes data for 65 countries where Islamic fintech companies are represented. We analysed 31 variables describing the development of Islamic financial technologies in each country and combined them into five categories included in the composite indicator. Key factors that determine the development of Islamic financial technologies in different countries around the globe are singled out. The economies with the highest scores are analysed to define their strengths and weaknesses. The practices of the leading countries that address identified vulnerabilities are described.
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Korneev, V. V., V. Y. Khaustova, and A. O. Khodzhaian. "Progressive Taxation of Individual Income in Islamic Countries." PROBLEMS OF ECONOMY 2, no. 48 (2021): 187–93. http://dx.doi.org/10.32983/2222-0712-2021-2-187-193.
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The economic results of the development of Muslim countries have raised the question of the existence of an increasingly focused Islamic financial and tax model. Taxes in the Islamic economic model provide an implicit link in the relations between the state and individuals, thus determining the limits of conditioned freedom and mutual obligations. The article is aimed at identifying the indicative features of progressive taxation of individual income in some Islamic countries. The research results show that Islamic countries are characterized by the unity of religion (faith) and such elements of the social system as the organization of power, as well as family, economic and other relations. The boundaries of the personal and the public, the individual and the national are transparent and strictly regulated. The peculiarities of the Tax Institute in Muslim countries, terms of taxation and tax usage rules are considered. It is proven that nowadays approaches to taxation in Islamic countries are diverse. It is determined that progressive taxation of individual income is widely used in Turkey, Pakistan, Tunisia, Indonesia, Nigeria, and other countries, and partly in Saudi Arabia; "tax heavens" are typical for the UAE, Kuwait, Qatar, Bahrain, and Omani; proportional taxation is still used in Malaysia, Sudan, and Kazakhstan. The main types of taxes in Muslim countries are analyzed, their evolution is studied. Modern foci of progressive taxation of individual incomes in specific Muslim countries are revealed. The advantages of the Islamic financial model in terms of tax policy modernization and compliance with tax discipline, unconditional fulfillment of obligations and concluded agreements are identified. It is substantiated that using some elements of the progressive tax scale applied in the practice of Islamic finance can prove useful in a number of areas, providing budgetary and social balance in the "corridor of opportunities", bringing mutual responsibility of citizens and the state in fulfilling obligations, creating an annuity and mutually beneficial economic behavior pattern. It is proved that the progressive tax withdrawal of a part of large incomes will give a restrictive and restraining result of control over their redistribution in the public interest, as the socio-economic behavior of individuals, their powers and responsibilities must be balanced