Religious compliance in Islamic financial institutions

The central goal of this research is to explore the approach of the Islamic banking industry in defining and implementing religious compliance at regulatory, institutional, and individual level within the Islamic Banking and Finance (IBF) industry. It also examines the discrepancies, ambiguities and paradoxes that are exhibited in the individual and institutional behaviour in relation to the infusion and enactment of religious exigencies into compliance processes in IBF. Through the combined lenses of institutional work and a sensemaking perspective, this research portrays the practice of infusion of Islamic law in Islamic banks as being ambiguous and drifting down to the institutional and actor levels. In instances of both well-codified and non-codified regulatory frameworks for Shariah compliance, institutional rules ambiguity, rules interpretation and enactment ambiguities were found to be prevalent. The individual IBF professionals performed retrospective and prospective actions to adjust the role and rules boundaries both in the case of a Muslim and a non-Muslim country. The sensitizing concept of religious compliance is the primary theoretical contribution of this research and provides a tool to understand the nature of what constitutes Shariah compliance and the dynamics of its implementation. It helps to explain the empirical consequences of the lack of a clear definition of Shariah compliance in the regulatory frameworks and standards available for the industry. It also addresses the calls to have a clear reference on what constitute Shariah compliance in IBF as proposed in previous studies (Hayat, Butter, & Kock, 2013; Maurer, 2003, 2012; Pitluck, 2012). The methodological and theoretical perspective of this research are unique in the use of multi-level analysis and approaches that blend micro and macro perspectives of the research field, to illuminate and provide a more complete picture of religious compliance infusion and enactment in IBF.

Islamic finance:an introduction

Editorial

Social and financial efficiency of Islamic microfinance institutions:a Data Envelopment Analysis application

Microfinance has been developed as alternative solution for global poverty alleviation effort in the last 30 years. Microfinance institution (MFI) has unique characteristic wherein they face double bottom line objectives of outreach to the poor and financial sustainability. This study proposes a two-stage analysis to measure Islamic Microfinance institutions (IMFIs) performance by comparing them to conventional MFIs. First, we develop a Data Envelopment Analysis (DEA) framework to measure MFIs' efficiency in its double bottom line objectives, i.e. in terms of social and financial efficiency. In the second stage non-parametric tests are used to compare the performance and identify factors that contribute to the efficiency of IMFIs and MFIs.

Financial innovation and engineering in Islamic financial institutions

Drawing from work found in the financial innovation literature, the main objective of this research is to explore the effect of religious orientation towards financial innovation and engineering in Islamic Financial Institutions (IFIs). The research also examines what constitutes this religious orientation and how it is enacted in the innovation process. Religious orientation towards financial innovation is conceptualised and defined, as a system, in this research study. In order to achieve this objective, the study employs multiple theoretical perspectives to develop its theoretical framework. It combines innovation orientation theory with the theory on boundary objects to explore the role of religion in the financial innovation processes in IFIs. Religious orientation

Islamic Hijab

Dr. Soroush Dabbagh presents a lecture on the moral permissibility of unveiling from both philosophical and jurisprudential points of view. Lecture was held on February 8, 2013 at the Green Library, Modesto Maidique Campus, Florida International University.

Shi'a women's participatory roles in the establishing and sustaining Shi'a religious identity in South Florida : Islamic Jaffaria Association

The research on the Muslim American community is largely Sunni specific and the purpose of this thesis is to add upon the limited scholarly work concerning the Shi'a Muslim American community. This study looks into the American Shi'a Muslim education experience at the Islamic Jaffaria Education Center (IJEC) and how it establishes and sustains a Pakistani Shiite Muslim identity. In addition, research on widespread American Muslim education shows high female participation on all levels, including, but not limited to, board and teaching positions. To see if this situation exists inside the Shi'ite communities an ethnographic study was conducted over the course of about 4 months at the IJEC. The findings show that there is also high female participation at that Shi'ite education center on all levels. The study links the high female participation with the education and how it established and is currently sustaining a Pakistani Shi'ite Muslim American identity in South Florida.

An analysis of the impact of the Islamic revolution in Iran on Iranian women

This study compares the status of women under the secular government of the Pahlavi Dynasty with the Islamic Republic of Iran. It relies on Hisham Sharabi's theory of neopatriarchal society and Fatima Mernissi's psychological analysis of the dynamics of gender relations in Islam. Both the Pahlavi dynasty and the Islamic regime promoted a perception of women's rights which were conducive to the ideologies of secularism and Islamism. Both regimes, however, worked within the framework of a patriarchal society by instituting policies that were misogynous in nature. This study found that the majority of Iran's female population was not greatly affected by the overthrow of the Pahlavi dynasty and the subsequent implementation of the Islamic regime. The basis of this argument lies in the fact that despite the contrasting ideologies of both governments, where women's issues are concerned, the patriarchal social structure remained virtually intact.

Women at work: pottery factory.

Inscription: Verso: Women at work: miscellaneous occupations. Isla Del Sol Carolina, pottery factory, Puerto Rico.