Bitcoin is a type of cryptocurrency and the most successful in blockchain management. It has become famous in recent years. The critical aspects of cryptocurrency are its legitimacy, source of money laundering, tax evasion, lack of regulation etc. The aim of this study is to explore the view of Muslim scholars on the legality of bitcoin with respect to Shariah. The study adopts doctrinal approach which utilizes descriptive approach of qualitative research methodology which relies on secondary data in form of text books, journals, newspapers, related websites etc. The study found that Muslim scholars are divided on the issue. A part of them completely rejected bitcoin and considered it against Shariah principles. On the other hand, some Muslim scholars believe bitcoin does not contradict Islamic principles and therefore may be used, however with certain conditions. The researchers tend to support the proponents’ view as most of the opponents’ grounds for the rejection are temporary in nature which may be covered through policy regulations.
The issue of unpayable educational loan that lead to student’s defaults has become a worrying trend all over the world. This research aims to examine the relationship of anxiety, parental influence, media awareness, and religiosity on student’s perception on educational loan repayment. A survey approach has been adopted to investigate student’s perception on educational loan repayment in Universiti Utara Malaysia. The data for this study were collected via structured questionnaires which were completed by 359 undergraduate Muslim’s students who acquire their financial loan from National Higher Education Fund Corporation (NHEFC). The data were then quantitatively analyzed using SPSS program. The findings of Pearson’s correlation showed a positive correlation between student’s perception towards educational loan repayment and religiosity, parental influence, media awareness, and anxiety. Further analysis using a multiple regression indicated that all independent variables explained 32.9 per cent of student’s perception on educational loan repayment. The result again indicated that religiosity and parent’s influence are most influential factors on student’s perception towards educational loan repayment. Whilst, media awareness slightly contributed to student’s perception towards educational loan repayment and anxiety gave no impact. The result implied that the Ministry of Education may design the syllabus in school and university curricular by adding the value of responsibility in loan repayment especially in religious and moral subjects. Besides, the Ministry Education of Malaysia are also urged to use media to disseminate the information regarding the importance for students to make loan repayment to parents as well as students. The collection of student loan then can be used for the next generation in financing their study which could result the prosperity of nation.
Infrastructure contributes to economic development by increasing productivity and providing amenities which enhance the quality of life and the growth of an economy. Likewise, its absence is a setback to the growth of any meaningful society’s economy. Inadequate infrastructure remains a critical issue in most countries that are members of the cooperation known as Organization of Islamic Cooperation (OIC). Sukuk as a general term is an Islamic or Shari’ah mode of financing. Having said that, the objective of this paper is to introduce Sukuk as an alternative or better option to the conventional mode of financing infrastructure as a machinery for economic and social growth of OICs countries. It is hoped that the outcomes of the study will be a great benefit to the policy makers of OICs member countries. It is also anticipated that the findings of the paper will serve as an alternative to the conventional mode of providing infrastructure in OICs countries. This paper is a library oriented paper, that is to say, it uses qualitative type of methodology in executing its objective. The finding shows that Sukuk is a better option and reliable in financing mega projects for development of Muslim nations.
Islam is an all-encompassing creed that does not differentiate between ibadÉt (worship) and muamalÉt (social relations
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