Suchergebnisse

This study asks five questions. How does the Constitution define the framework for its governance and the principles under which it must operate? How do the provisions lay out the core public finance matters? How are Islamic religious defined? How could we interpret the provisions in the Constitution? How do Islamic religious revenues affect socioeconomic development? Based on the analysis of these questions, and the Federal Constitution of Malaysia, this study will try to explain the choice of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents (government). In particular, this study will prove that the Constitution results from both conventional and Islamic scholars' preferences. The constitutional rules lead to the introduction of Islamic religious revenues as the sources of government revenues. Furthermore, in Malaysia, constitutional economics also provides another view that treats Islamic religious revenues as socioeconomic development tools.

Intro -- Financial Inclusion and Poverty Alleviation -- Foreword -- Preface -- Contents -- List of Figures -- List of Tables -- Part I Trends and Challenges Facing Financial Inclusion and Inclusive Development in Muslim Countries -- 1 Quality of Institutions and Inclusive Financial Development in the Muslim World -- Abstract -- 1.1 Introduction -- 1.2 Literature Review -- 1.3 Methodology -- 1.3.1 Empirical Model Specification -- 1.3.2 Econometric Methodology -- 1.3.3 Endogeneity -- 1.4 Data and Descriptive Analysis -- 1.4.1 Descriptive and Statistical Analysis -- 1.4.2 Correlation Analysis -- 1.4.3 Graphical Analysis -- 1.4.4 Data Diagnostic Tests -- 1.4.4.1 Model Specification Test -- 1.4.4.2 Multicollinearity Test -- 1.4.4.3 Normality Test -- 1.4.4.4 Hausman Test: Fixed Effects Model vs. Random Effects Model -- 1.5 Empirical Results and Discussion -- 1.5.1 Cross-Sectional Analysis -- 1.5.2 Panel Data Analysis -- 1.6 Conclusion -- References -- 2 Financial Intermediation, Development, and Access to Finance in an Islamic Environment -- Abstract -- 2.1 Introduction -- 2.2 Related Literature -- 2.3 Data and Methodology -- 2.4 Analysis of Results -- 2.5 Discussion and Robustness Checks -- 2.5.1 Impact of Economic and Human Development -- 2.5.2 Impact of Financial Development and Financial Intermediation Conditions -- 2.6 Conclusions -- Appendix. Definition of Variables -- References -- 3 Financial Inclusion for Women: Impact Evaluation on Islamic Microfinance to Women's Empowerment in Indonesia -- Abstract -- 3.1 Introduction -- 3.1.1 Background and Rationale -- 3.1.2 Research Statement -- 3.1.3 Objectives -- 3.2 Literature Review -- 3.2.1 Islamic Views on Poverty -- 3.2.2 Islamic Views on Women Empowerment -- 3.2.3 Microfinance and Women Empowerment -- 3.3 Methodology -- 3.3.1 Methodological Framework -- 3.3.2 Sample Design and Selection Procedures

Fiscal policy, inter alia, looks at the list of government revenues. The constitutional rules provide guidance on the list of revenues. However, the previous studies find that waqf is not considered as part of government revenues. In this study, we argue that waqf brings in a new list of government revenues. To prove this point, we select a sample of fifty-seven countries under the Organization of Islamic Countries. The constitution of each country is investigated by using content analysis. The study uses a combination of several keywords, namely "tax or taxes or fiscal obligations," "revenues or budget or finance" and "waqf" in investigating the rules on revenues and waqf. The findings in this study are classified into five kinds of countries, namely countries that highlight government revenue and waqf in the constitution, countries that claim to recognize sharia law as the basis of the law but the waqf rules in the constitution are missing, countries that mention in their constitution that government revenues are placed under the government system, financial system, and parliament, countries that place waqf is ruled under the public finance matter, and countries that place waqf as the main policy. This finding implies that the constitutional rules lead to the view that waqf is a part of public finance that can be used as a fiscal policy tool and should be included in the state budget plan.

Aceh province has a special right to implement Sharia principles throughout the area (Law Number 11/2006) though Indonesia is not an Islam country. Among the Sharia laws implementation, government budget was one of the first to be carried out in the province. It was showed up as Zakat post in the APBD (local government budget). The issue is whether putting in the Zakat post was enough to demonstrate an Islamic based budget as well as the transparence of zakat disbursement. Therefore, this paper trying to analyze the existing budget based on Sharia principles (Islamic Law) as explained by Chaudhry (1999) and Kahf (1997) The provincial budget needs improvement to be more sharia compliance. Fulfilling the Sharia criterion consequently will improve the accountability, transparency and the fairness of the budget toward people needs and development enhancing. =========================================== Aceh adalah provinsi yang memiliki hak khusus dalam mengimplementasikan prinsip- prinsip syariah dalam wilayahnya (Undang- Undang no.11 tahun 2006) walaupun Indonesia bukanlah suatu negara Islam. Diantara implementasi hukum syariah, anggaran pemerintah adalah satu hal yang pertama yang dikelola dalam provinsi ini. Hal ini muncul pada pos zakat pada APBD (Anggaranan Pengeluaran dan Belanja Daerah). Masalahnya adalah apakah penempatan dana Zakat sudah cukup untuk menunjukkan sebagai anggaran yang berbasis Islam serta transparansi dalam penyaluran zakat. Untuk itu paper ini bertujuan untuk menganalisis anggara yang ada berdasarkan prinsip- prinsip syariah (Hukum Islam) seperti yang telah dijelaskan oleh Chaudury (1999) dan Kahf (1997). Anggaran provinsi perlu perbaikan agar lebih patuh syariah. Dengan terpenuhinya kriteria syariah maka akan meningkatkan akuntabilitas, transparansi, dan keadilan dalam anggaran terhadap kebutuhan masyarakat dan meningkatkan pembangunan.

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.