Faculty Research and Publications

Permanent URI for this collectionhttps://repository.iou.edu.gm/handle/123456789/66

Browse

Recent Submissions

Now showing 1 - 20 of 54
  • Thumbnail Image
    Item
    Islamic Microfinance in India: A Quantitative Approach
    (International Association of Islamic Banks, Karachi, Pakistan, 2020-04) Mahmood, Huma; Hassan, Rusni; Salman, Syed Ahmed
    Islamic microfinance institutions (IMFIs) have had their roots in India originating as far back as 1918. It is founded on the principle which prohibits interest and hence is a form of non-interest microfinance to the poor. It also provides micro-credit services through Shari'ah compliant structures to small dealers and traders who have limited to no access to the formal financial services. Islamic microfinance offers a more sustainable and successful microfinance which not only creates financing but also blends in empathy for the poorest of the poor. In the Islamic perspective, poverty alleviation is more comprehensive than the conventional one. It flags equity and cooperation-based models in contrast to models that create and perpetuate debt. However, the past of IMFIs in India depicts an unfortunate tale. The IMFIs established during the eighties, rose and matured quickly. Nevertheless, over the course of time they encountered numerous hurdles that lead to their closure in many places. The objective of this research is to know the challenges of Islamic microfinance in India and give suggestions and possible solutions to resolving the issues. This study adopts the quantitative approach. In this research the population is known and hence probability sampling or random sampling is selected. The data gathered from the 303 responses received is analyzed using SPSS22 software. The findings of this research show that the majority agrees that there is lack of government support, no proper marketing of Islamic microfinance products, no effective Islamic awareness and education among the public.
  • Thumbnail Image
    Item
    Prospects of Islamic Microfinance: A Study in India
    (TAF Publishing, 2020-10-20) Mahmood, Huma; Hassan, Rusni; Salman, Syed Ahmed
    India being a developing economy is one of the emerging markets in the world. But an obstacle that still stands in its way of development is the scarcity of financial/monetary resources required for sustainable investments. The giants of Microfinance in India are known to be charging high rates and the smaller players follow in their footsteps. For such regions, Interest-free microfinance is what is needed to uplift the minority and take them out of the fangs of poverty. Interest-free microfinance and its implementation can prove to be very useful in eradicating poverty and providing sustainable development of micro-enterprises and the expansion of financial inclusion. Thus, the aim of this study is to examine the prospects of Islamic microfinance in India. The quantitative method is employed, and primary data is collected through a questionnaire. The probability sampling method is used. Out of 500 questionnaires disbursed, 303 are received. The result of the questionnaire shows that majority of the public believes Islamic Microfinance Institutions (IMFIs) will aid the poor financially, poverty will be alleviated, it will be beneficial to the society, and will help micro SMEs become more developed. Similarly, majority of the respondents also agreed to IMFIs being ethical, meant for all religions, catering to the needs of the society and help to extend loans without collaterals. This reflects that Islamic Microfinance holds great potential and prospects and will be widely accepted by the public and also the Indian market. Policymakers should consider IMFIs, establish guidelines and promulgate them as this can pave way to a financially more stable India.
  • No Thumbnail Available
    Item
    Implementing Islamic Banking Under Conventional Banking Acts — Special Reference to Ghana
    (International Open University, 2023) Yatoo, Nissar Ahmad
    The main purpose of this study is to study the legal status of Islamic banking (IB) in Ghana in relation to the new banking Act, Banks Specialized Deposits Taking Institution (BSDTI) Act, 2016 (Act 930). The research employs a qualitative approach that uses interviews to measure the opinions of a sample of 10 experts with Islamic finance/finance backgrounds conveniently and purposively selected from higher learning/research institutions in Ghana and abroad. Questionnaires are also administered to 52 core banking employees. The data analysis is done with the aid of SPSS (V. 20). The findings from the research reveal that IB is not explicitly permitted by the Act. However, IB implementation in Ghana is possible. The majority of respondents are Muslims and this should be considered before generalization over the entire country. Islamic banking can be implemented in Ghana if deliberate efforts are made to revise the Banking Act. Notably, this study is the first of its kind to interview both local and foreign experts regarding the legal status of IB in relation to the new banking Act.
  • No Thumbnail Available
    Item
    Implementation of the Fatwá Of Indonesian Ulema Council On Sharī’ah-Compliant Financial Technology Service Products In Indonesia
    (International Open University, 2022) Sasongko, Didik Adji; Yatoo, Nissar Ahmad
    As the largest Muslim population in the world, Indonesia has the potential to become a leading Sharī’ah-compliant financial country. With the technological development in Information Technology, more IT financial service products are introduced to the Muslim market. One of them is peer-to-peer lending financial technology (fintech) service. Sharī’ah-compliant fintech company has been developed due to some factors, namely: the rise of middle-class Muslims, increasing Muslim awareness of Sharī’ah-compliant financial products, and increasing number of smartphone users in Indonesia. DSN-MUI fatwá no. 117/DSN- MUI/II/2018 provides guidance on the implementation of information technology- based financing services based on Sharī’ah principles in Indonesia. This research aims to study the concept of fatwá and its implementation in Sharī’ah-compliant fintech product. In addition, this research also determines the problems and challenges of the fatwá implementation. Dana Syariah as one of the Sharī’ah- compliant fintech that has obtained an operational license by OJK, Dana Syariah uses wakkÄ lah bil ujrah contracts and murÄ baḥah sale and purchase contract. According to the results of this study, the two contracts are in accordance and comply with the DSN-MUI fatwá no. 117/DSN-MUI /II/2018. However, this fatwá is not legally binding and cannot be enforced by law enforcement. While the operational and legality of fintech uses regulations from OJK. The challenge in implementing the fatwá is the differences of opinion among scholars regarding the [82] Journal of Integrated Sciences Volume 2, Issue 4, September 2022 ISSN: 2806-4801 concepts of qabḠu haqÄ«qÄ« (actual possession) and qabḠu ḥukmÄ« (constructive possession) in murÄ baḥah contract.
  • Thumbnail Image
    Item
    Tokenization of sukuk: Ethereum case study
    (Elsevier, 2020) Khan, Nida; Kchouri, Bilal; Yatoo, Nissar Ahmad; Kräussl, Zsófia; Patel, Anass; State, Radu
    Sukuk is a financial instrument that provides returns similar to conventional bonds. It has served to cater to the capital requirements of big corporations and governments, while circumventing interest to adhere to the Shariah law. Sukuk can be touted as Shariah-compliant bonds that rank among the most successful and the fastest growing financial instrument in the Islamic economy. The sukuk research area is marked by a dearth of quantitative literature, compared to qualitative academic work. This paper seeks to fill this existing gap, and introduces a novel, exploratory analysis of sukuk tokenization based on a case study. The funding needs of small and medium enterprises remains largely unmet through sukuk on account of the high costs involved, among other reasons. As we show in this paper, blockchains can aid to lower the cost incurred through the tokenization of sukuk. We highlight some of the key challenges involved in the issuance of sukuk and discuss their resolution using blockchain. We also provide a taxonomy of blockchain applications in finance, with a particular focus on Islamic finance. Our paper reviews different blockchain architectures to assess their viability for tokenization. We conduct a novel case study on sukuk tokenization by implementing a basic smart contract for Sukuk al-Murabaha on Ethereum. The paper concludes by a conceptual analysis of feasibility concerns, based on a comparison of the conducted cost-benefit analysis of conventional sukuk issuance with tokenization.
  • No Thumbnail Available
    Item
    Stability of Islamic banks: Evidence from Nigeria
    (International Open University, 2021) Dabarako, Fatima Muhammad; Yatoo, Nissar Ahmad; Adewale, Tijjani Ridwanlah
    This research studies the stability of Islamic banking through a closer observation of Jaiz Bank Nigeria. The study covers a period of seven (7) years (covering 2012 to 2018). Z-score has been used as a proxy for Bank Stability (SB) in other to derive the values of SB. Bank data as well as descriptive statistics were used. An analysis of the impact of macro-economic variables (Inflation and ΔGDP) on the Return on Assets (ROA) of Jaiz Bank as well as the ROA of some five conventional banks in Nigeria selected for the purpose of comparison. The SB figures of these banks were also compared to verify the most stable, over this period of seven years. The use of tables was employed to make data readable at a glance. This study found that Jaiz Bank is consistent with theoretical studies which expect a positive correlation of profitability with ΔGDP and a negative correlation with a rise in inflation and vice-versa. The conventional banks on the other hand were not consistent. Some of the banks behaved in a similar manner to Jaiz Bank at some point while some others had no clear pattern. However, the bank stability derived by SB(K) and SB(ROA) indicated that, conventional banks are more stable while SB(CAR) figures shows that Jaiz Bank is second, only to Access Bank and Jaiz Bank maintained smaller Stdv figures indicating a much smaller variation in the figures and therefore more stability.
  • No Thumbnail Available
    Item
    Performance of Islamic Banks and Economies of Selected Muslim Countries
    (University of Bahrain, Scientific Publishing Center, 2019) Yatoo, Nissar Ahmad; Didi, Nuha Mohamed
    This study is a strict attempt to determine the relationship between economic growth and performance of Islamic banks in few selected Muslim countries from 2014 to 2016. The macroeconomic components that were taken into consideration as indicators to economic growth were gross domestic product -GDP, foreign direct investment- FDI, inflation and unemployment in three selected countries; Malaysia, Indonesia and Maldives. Three banks from these three countries were taken into account as representatives for Islamic banks. Comprehensive income and net cash inflows have been considered as measures of performance of each bank. The empirical results show that performance of Islamic banks vary in linear relationship with indicators of economic growth in selected countries. Of the macroeconomic components that were empirically analysed against growth of Islamic banks, FDI net inflows displayed the strongest positive linear relationship with banks’ performances followed by GDP. It is thus concluded, that the performance of Islamic banks have connection, but to varying extents with different indicators of economic growth in their respective countries of operations.
  • No Thumbnail Available
    Item
    The Islamization of Economic Systems: A Methodological Approach
    (Universitas Negeri Surabaya, 2020) Mi’raj, Denizar Abdurrahman; Yatoo, Nissar Ahmad
    This paper is an attempt to discuss Islamization of economics in historical perspective. Focus of the discussion is not only the Islamization of economics but also realization of an Islamic economic system. This research is based on library research methods and supported by historical analysis. Conclusive information was collected from various studies and analysed for the conception of implementing methodological steps to realize the Islamization of the economic system. Studies were reviewed and investigated in three stages: general, exploratory, and focused learning. The findings of this study reveal that Islamization of economics cannot stand alone without the Islamization of every Muslim and the Islamization of society. Like Islamization of a society is realized with organization of Muslim families, Islamization of economics can be realized by increasing the number of economists who have knowledge of sharia.
  • No Thumbnail Available
    Item
  • No Thumbnail Available
    Item
    Disparities of Financial Inclusion in India
    (Vijay Nicole Imprints Private Ltd, 2011) Yatoo, Nissar Ahmad
  • No Thumbnail Available
    Item
    Liquidity Risk Management – A Study of Islamic Financial Institutions in Nigeria
    (IIUM Institute of Islamic Banking and Finance, 2017) Adewale, Tijjani Ridwanlah; Yatoo, Nissar Ahmad
  • No Thumbnail Available
    Item
    Islamic Banking and Finance-An Emerging Global Financial Sector
    (Today Publication, 2013) Yatoo, Nissar Ahmad
  • No Thumbnail Available
    Item
    What the Indian Muslims think about Islamic Finance: An Empirical Study
    (2013) Yatoo, Nissar Ahmad; Sudalaimuthu, S.
  • No Thumbnail Available
    Item
    Zakat Management Issues and challenges
    (2018) Yatoo, Nissar Ahmad
  • No Thumbnail Available
    Item
    Islamic Finance in India -An Assessment of Idea, Perception and Awareness
    (2013) Yatoo, Nissar Ahmad; Muthu, S. Sudalai
  • No Thumbnail Available
    Item
    Drug Addiction and Suicide Among Youth in Kashmir: Role of Parenting
    (International Open University, 2023) Malik, Shazia; Yatoo, Nissar Ahmad
  • No Thumbnail Available
    Item
  • No Thumbnail Available
    Item
    Assessing the nexus between market openness and economic growth: an emerging market perspective
    (Asociatia Generala a Economistilor din Romania / Editura Economica, 2024) Shawl, Sana; Nayak, Keyur M.; Yatoo, Nissar Ahmad
    The countries with greater economic freedom are believed to have higher economic progress. Over the last two decades, researchers have focused on the impact of institutional quality on economic development of a country but not much insights are drawn about the individual components of economic freedom. The present study addresses this gap by assessing the impact of market openness on economic growth of the emerging economies, the BRICS bloc for the period 1995-2019 using Feasible Generalized Least Squares method. Our panel data analysis revealed a new evidence suggesting a negative impact of the sub-components of market openness on economic growth.
  • No Thumbnail Available
    Item
    Prospects Of Islamic Banking And Finance (IBF) In Ghana
    (International Open University, 2025) Abdul-Somed, Ibrahim; Yatoo, Nissar Ahmad
  • No Thumbnail Available
    Item
    A Mixed Methods Study of Mental Health, Emotional Intelligence and Religiosity in Muslim Students
    (International Journal of Islamic Psychology, 2023) Khan, S. R.; Yatoo, Nissar Ahmad