Suchergebnisse

This paper investigates the effects of debts and budgetary deficit on real variables using structural Vector Error Correction Model (VECM) method with long-run restrictions. We compare our estimates of the impulse responses with those based on levels Vector Auto-Regressive (VAR) with standard recursive order restrictions. The test is conducted on the Malaysian data covering the period of 1962-2006. The empirical results do not support the existence of "Ricardian Equivalence" hypothesis. The effects of budgetary deficit and government spending have a significant influence on private consumption and private investment.

Part I: Introduction -- Chapter 1: Philanthropy and Its Impact on Socio-economic Development -- Chapter 2: Islamic Philanthropy Instruments -- Part II: Waqf -- Chapter 3: Challenges of Waqf Land Development in Brunei Darussalam -- Chapter 4: A Look to the Ottoman Cash Waqf as Altruistic Finance Model. Chapter 5: Predicting the Behavioural Intention for Cash Waqf: Evidence from Malaysia and Thailand. Chapter 6: Issues and Challenges of Waqf Instrument: A Case Study in Parad -- Chapter 7: Waqf-Based Crowdfunding: Proposed Framework for Entrepreneur Development -- Chapter 8: New Recourse to Flood Victims in Malaysia: A Proposal on Permanent Waqf Flood Evacuation Centre -- Chapter 9: Cash-Waqf for Humanitarian Aid: The Case of Transboundary -- Part III: Zakat -- Chapter 10: A Review on the Impact of Zakat Distribution -- Chapter 11: Exploring the Practice of Islamic Philanthropy among University Students in Indonesia -- Chapter 12: Go Zakat: A Mobile Application to Increase the Collection of Zakat in Indonesia -- Chapter 13: A Collection of Studies on Zakat -- Part IV: Other Philanthropy Instruments -- Chapter 14: Investment of Tabung Masjid in Malaysia toward Fulfilling Maqasid Al-Shariah -- Chapter 15: Concept of Philanthropy in Islam – A Case Study of Khanqahs and Sufi Shrines in Pakistan -- Chapter 16: Muslim Philanthropists and Humanitarian Organizations in South Africa: Making a Difference, Making a Mark -- Chapter 17: Governance Framework for Philanthropic Organisations Directed Towards Taqyid al-Mutlaq.

Part I. Institutional Framework for Macroprudential in Islamic Banking System -- 1. Macroprudential Policy and Regulation in A Dual Banking System: An Exploratory Perspective -- 2. Doctrinal Challenge for Islamic Banking on Macroprudential Regulations: A Religion-Regulation Mismatch 2.0 -- 3. Conceptual Proposal for Future Macroprudential Framework under Dual Financial System in Indonesia -- Part II. Macroprudential Policy, Systemic Risks and Financial Stability in Islamic Financial Industry -- 4. Risk Management Methodologies: An Empirical Macro-prudential Approach for a Resilient Regulatory Framework for the Islamic Finance Industry -- 5. Competitive Condition and Market Power of Islamic and Commercial Conventional Banks in Indonesia -- 6. Early Warning Indicators and Macroprudential Policy Tools -- 7. A Proposed Formula for Reserve Requirement–Financing to Deposit Ratio: The Case of Islamic Banking in Indonesia -- 8. Testing of the Procyclicality of Islamic and Conventional Banks in Indonesia -- 9. Short-Term Liquidity Management Mechanisms in the Absence of Islamic Interbank Loan Markets -- Part III. Experiences in Implementing Macroprudential Policy in a Dual Banking System -- 10. Macroprudential Analysis of Financial Crisis Impacts on Banks' Soundness: Evidence from Pakistan -- 11. Regulatory Framework for Islamic Finance: Malaysia's Initiative -- 12. Islamic Finance and Macroprudential Policy: The Case of Iranian Banking System -- Part IV. Interplay between Macroprudential Policy with Other Markets -- 13. Indonesia Shari'ah Compliance Stock Index Responses towards Macroprudential and Monetary Policy of Indonesia Central Bank -- 14. Socio-Economic Development and its Effect on Performance of Islamic Banks: Dynamic Panel Approaches -- 15. Macroprudential Tools and Its Relationship with Monetary Policy Tools.

This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy - which has gained important impetus in recent years - are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.

The Malaysian government has been promoting the use of industrialized building system (IBS) and Building Information Modeling (BIM) in the Productivity Thrust of the Construction Industry Transformation Program CITP2016-2020. However, the rate of BIM adaptation is hampered when the AEC industry still relies very much on traditional drawings and management practices. The clash management becomes one of the major problems affecting 25%-30% of contract value and 10% project cost. This study is part of a larger study aiming to propose an automated clash management system that supports integration of local IBS products in a BIM process. This paper reports the documentation of the underlying traditional practices for clash detection and resolution in industrialized projects. This study used case study research methodology involving a design-build construction team of an industrialized hospital project. In-depth interviews were conducted on the management team including the project manager, the architect, the coordinating engineer, and the quantity surveyor. Inductive logic approach was used to collect and analyze the data for this study. Results include documentation of the clash detection until resolution of management decision process through distinctive clash lifecycle phases including the sequential activities of the project management team and the criteria for decision-making. These results are expected to contribute towards proposing a technology-based clash management framework that would support the development of an automated clash management system. This paper extends the Discontinuity-in-Organization theory for supporting knowledge transfers in complex lifecycle process.

The approach to religious education had been shaped by historical, cultural, social, and political reasons, however, both the inherited secular education system and traditional religious education system, as standalone, can never bring development to the society. Hence, the religious education must be combined with secular education and the innovative approaches in education evolve continuously to uphold the pedagogy, learning approaches and facilities even in the current context to sustain, endure to be relevant and culturally resilient with the contemporary scientific and advanced technology. The process of education evolved in many countries, radically changed from traditional madrasah to localized vernacular schools, and then on to European education. The educational curriculum should kindle the learning process by systematic observation, quantitative reasoning and scientific expressions. The learning tools should engage students with the creation through observation, pictorial and descriptive records, exploration, articulation, and communication with fellow students. This paper analysis a combination of both structural and cultural orientations on identified needs leading to facilitations in learning environment, implementing knowledge to practice, and finally evaluated for the fulfillment or gap identification, for furthering the learning or development inputs towards constructive utilization and growth. ; Pendekatan pendidikan agama terbentuk karena dipengaruhi oleh faktor sejarah, budaya, sosial, dan politik. Namun, baik sistem pendidikan sekuler maupun sistem pendidikan agama tradisional, tidak mampu membawa perkembangan yang maju dalam masyarakat. Oleh karena itu, pendidikan agama harus berevolusi dan mengkombinasikan dengan pendidikan sekuler, dan pendekatan inovatif dalam pembelajaran serta fasilitas yang relevan dengan perkembang teknolongi untuk mendukung pendidikan. Proses pendidikan berkembang di banyak negara berubah secara radikal, dari madrasah tradisional ke sekolah lokal, dan kemudian ke menjadi pendidikan sistem Eropa. Kurikulum pendidikan harus mendorong terciptanya proses belajar dengan pengamatan sistematis, penalaran kuantitatif dan ekspresi ilmiah. Alat pembelajaran harus melibatkan siswa dengan penciptaan melalui observasi, gambar dan catatan deskriptif, eksplorasi, artikulasi, dan komunikasi dengan sesama siswa. Makalah ini menganalisis kombinasi dari kedua orientasi struktural dan budaya pada kebutuhan yang diidentifikasi mengarah ke fasilitasi di lingkungan belajar, menerapkan pengetahuan untuk berlatih, dan akhirnya dievaluasi untuk pemenuhan atau identifikasi gap, demi memajukan pembelajaran atau pengembangan terhadap pemanfaatan dan pertumbuhan yang konstruktif.

Purpose: This paper aims to discuss the application of waqf (endowment) in the social finance sector for funding social and development projects and services. Design/methodology/approach The study is qualitative. It reviews literature and provides descriptive data to present its main idea. Findings Most Muslim-majority countries are generally income-poor, and the governments are generally weak in their tax collection, effective governance and capacity for development spending. Private sector financial institutions are scarce and mostly cater to the people who can meet the income-based lending criteria. Thus, the institution of waqf can fill the gap as a social finance institution by providing intermediation services for effectively utilising perpetual social savings. Flexibility in the rules of waqf enables it to serve beneficiaries directly or through financial institutions and to provide a wide range of social services. Research limitations/implications This conceptual research highlights the need and potential of waqf without discussing the regulatory and operational details of how to effectively institutionalize it in different regions. Practical implications The institution of waqf can harness the potential of selfless charitable giving in an effective way for better economic impact in the targeted social segments of society. Originality value The paper suggests the establishment of waqf-based training and vocational centres which will increase opportunities of self-employment and contribute in upward social mobility of beneficiaries.