Abstract: The world has witnessed the collapse of many corporate giants as a result of unethical behavior in recent decades. This has induced a series of questions by the global community on why such occurrences could happen, even with corporate governance in place. This paper attempts to propose a philosophical approach from an Islamic perspective to be consolidated with current corporate governance in order to confront contemporary dilemmas. In this paper, ethical theories are presented as a discussion followed by their applications to modern cases of financial collapses. Virtue ethics by Aristotle, justice and fairness by John Rawls, deontology by Immanuel Kant, and utilitarianism by John Stuart Mill, are the four theories which can then be contrasted with the paradigm of Muslim scholars. Despite the differences between the fundamental principles of Islamic and Western worldviews, their ethical theories are aimed at making right decisions and solving ethical dilemmas based on what is good for society. Therefore, Islamic principles should be synthesized with Western philosophy to form a more coherent framework. The integration of Islamic and western ethical theories into business is important for sound corporate governance.
Abstract: The rich Islamic resources related to religious text,
Islamic sciences, and history are widely available in print and in
electronic format online. However, most of these works are only
available in Arabic language. In this research, an attempt is made
to utilize these resources to create interactive web applications in
Arabic, English and other languages. The system utilizes the Pattern
Recognition, Knowledge Management, Data Mining, Information
Retrieval and Management, Indexing, storage and data-analysis
techniques to parse, store, convert and manage the information from
authentic Arabic resources. These interactive web Apps provide
smart multi-lingual search, tree based search, on-demand information
matching and linking. In this paper, we provide details of application
architecture, design, implementation and technologies employed. We
also presented the summary of web applications already developed.
We have also included some screen shots from the corresponding web
sites. These web applications provide an Innovative On-line Learning
Systems (eLearning and computer based education).
Abstract: The importance of advancing women’s rights is closely intertwined with the development of civil society and the institutionalization of democracy in Middle Eastern countries. There is indeed an intimate relationship between the process of democratization and promoting gender equality, since democracy necessitates equality between men and women. In order to advance the issue of gender equality, what is required is a solid theoretical framework which has its roots in the reexamination of pre-modern interpretation of certain Qurʾānic passages that seem to have given men more rights than it gives women. This paper suggests that those Muslim scholars who adopt a contextualist approach to the Qurʾānic text and its interpretation provide a solid theoretical background for improving women’s rights. Indeed, the aim of the paper is to discuss how the contextualist approach to the Qurʾānic text and its interpretation given by a number of prominent scholars is capable of promoting the issue of gender equality. The paper concludes that since (1) much of the gender inequality found in the primary sources of Islam as well as pre-modern Muslim writings is rooted in the natural cultural norms and standards of early Islamic societies and (2) since the context of today’s world is so different from that of the pre-modern era, the proposed models provide a solid theoretical framework for promoting women’s rights and gender equality.
Abstract: Al-Murabahah is an Islamic financing facility used in
asset financing, the profit rate of the contract is determined by
components which are also being used in the conventional banking.
Such are cost of fund, overhead cost, risk premium cost and bank-s
profit margin. At the same time, the profit rate determined by Islamic
banking system also refers to Inter-Bank Offered Rate (LIBOR) in
London as a benchmark. This practice has risen arguments among
Muslim scholars in term of its validity of the contract; whether the
contract maintains the Shariah compliance or not. This paper aims to
explore the view of Shariah towards the above components practiced
by Islamic Banking in determining the profit rate of al-murabahah
asset financing in Malaysia. This is a comparative research which
applied the views of Muslim scholars from all major mazahibs in
Islamic jurisprudence and examined the practices by Islamic banks in
Malaysia for the above components. The study found that the shariah
accepts all the components with conditions. The cost of fund is
accepted as a portion of al-mudarabah-s profit, the overhead cost is
accepted as a cost of product, risk premium cost consist of business
risk and mitigation risk are accepted through the concept of alta-awun
and bank-s profit margin is accepted as a right of bank after
venturing in risky investment.
Abstract: In the fifteenth century, the Malacca Empire emerged
as the centre of Islamic civilization in the Malay Archipelago. The
history had been recorded in Sulalat Al-Salatin, an important literary
source about the genealogy of all Kings in Malacca. The objective of
this study was to analyze the understanding of sayings from Prophet
Muhammad among Malays in Malacca during the fifteenth century
through all of the hadith quoted in Sulalat Al-Salatin. This study used
content analysis methodology to validate the sayings where all of
them were critically analyzed and compared with the classical hadith
sources from prominent Muslim scholars. As a result, only two out of
the four quotations were considered as authentic sayings of Prophet
Muhammad. This study also showed the importance of the palace as
the centre of the Islamic education system and the role played by
Muslim preachers from outside of Malacca to propagate Islam in
Malacca.