Purpose This paper aims to explore the potential of the awareness and knowledge of Islamic social finance (zakat, waqf and Islamic microfinance) to alleviate poverty during the COVID-19 pandemic with the moderating effect of ethical orientation. Design/methodology/approach The data were collected through the administration of paper-based and electronic questionnaires to 400 respondents out of which only 277 were found valid for analysis. Findings The study showed that by direct relationship, the awareness and knowledge of Islamic social finance instruments have a potentially significant positive contribution to poverty alleviation during the COVID-19 pandemic except for zakat that has an insignificant positive contribution. Ethical oriental has also a significant positive contribution. Contrary to expectation, the moderating effect of ethical orientation has changed zakat and waqf to have significant negative and insignificant positive contributions, respectively. Only Islamic microfinance has endured the moderating effect to continue contributing significantly and positively to the reduction of poverty. Research limitations/implications The study explored only the potential impact of the awareness and knowledge of Islamic social finance to mitigate the extreme poverty caused by the COVID-19 pandemic in Nigeria. Practical implications This study clearly showed the need to create enabling laws and policies to support the operations of zakat and waqf institutions to achieve their objectives effectively and efficiently. These two institutions should be integrated with Islamic microfinance for the possibility of getting better outcomes. Social implications There should be massive campaigns to restore religious, social and political ethics to enhance the socio-economic development of Nigerians based on the principles of brotherhood. Originality/value This study provides unexpected and unusual results showing the inability of zakat and waqf institutions to alleviate poverty due to poor ethical orientation.

Purpose The purpose of this study is to examine the contribution of academic and professional institutions in promoting the awareness and knowledge of Islamic banking and finance in Nigeria. Design/methodology/approach The data were generated through a documentary research method by examining the Benchmark Minimum Academic Standards (BMAS) for Nigerian universities and Nigerian university curricula for the relevant undergraduate programs, as well as examination syllabi and training brochures for the relevant professional associations. Findings The study found that universities do not promote significantly the awareness and knowledge of Islamic banking and finance. Similarly, the relevant professional associations through their examinations and training programs contribute little or nothing to the promotion of awareness and knowledge. Research limitations/implications This study solely relied upon documentary evidence upon which the findings were based. In addition, for academic institutions, only undergraduate BMAS and curricula were examined. Practical implications There should be collaborations between the National University Commission of Nigeria, relevant Islamic and non-Islamic professional bodies and Nigerian Universities to ensure that courses (subjects) that could promote the awareness and knowledge of Islamic banking and finance are fully integrated into academic and professional curricula and training programs. Social implications The integration of an adequate number of relevant courses/topics into academic curricula and professional institution examination syllabi and their Mandatory Continuing Professional Development programs would greatly contribute to the production of competent and skillful employees to work for the growth and development of the Islamic banking and finance industry. Originality/value This study provides better ways of ensuring that knowledgeable and qualified employees are produced to work for the sustainability of the global Islamic banking and finance industry.

Purpose The purpose of this paper is to give another perspective on the definition of doubtful activities (Shubuhat) in the context of Islamic finance activities. Design/methodology/approach This study used qualitative approach from interviews with experts in Islamic finance and religious scholars. Findings This study highlights the synthesized Shubuhat definition from the previous studies and the contemporary religious experts. Therefore, the definition of Shubuhat has been conceptualized to Islamic finance in this study. This proposes a novel operational definition of Shubuhat from the Islamic finance perspective. Originality/value This study would enlighten the Ummah and contribute to knowledge to provide clarification on the Shubuhat fundamentals for further investigations and with more detailed description of the Shubuhat. Also, this study introduces a value chain of Sharīʿah-compliance by adding the elements of Shubuhat to the general understanding of Sharīʿah-compliance which has been generally understood as having the elements of halal and haram.

Islamic inheritance involves the allocation of the wealth of a Muslim deceased among his/her heirs after the settlement of legacies and debts. Irrespective of the amount given to each heir, if not invested, one day it will be finished through consumption, which could sooner or later make them live in poverty. Hence, this study intends to justify the Islamic need for investing inherited wealth. Another objective is to provide accounting treatments for basic Islamic inheritance transactions and the admission of heirs into an inherited business through the adaption of the provisions of AAOFI accounting and Bank Negara Malaysia (BNM) Shariah standards for musharakah and mudarabah. The study established that the investment of inherited wealth in either musharakah or mudarabah ventures is in line with the Shariah to enable heirs to generate income sustainably to afford their needs. The study also showed the accounting treatments for basic Islamic inheritance transactions in order to determine the share of the equity and profit or loss of each heir from the business properly and correctly.

This study examines the potential application of forensic accounting in detecting and preventing of fraudulent activities in the administration of Islamic inheritance in Kano State, Nigeria. Data were collected through semi-structured interviews with some selected experts who are aware of Islamic inheritance and forensic accounting. Thematic analysis was used. The study established the nature and forms of the fraudulent activities committed in the administration of Islamic inheritance, such as non-compliance with the provision of Islamic inheritance law, hiding some inherited estate, the non-usage of professional valuers and the advice of experts, misappropriation of inherited cash, mismanagement of inherited wealth, etc. The key fraudsters include the eldest heirs, the parents of heirs (particularly mothers), court officials, estate valuers, relatives and the trustees of the deceased. The respondents strongly believe that forensic accounting could be used as a reliable instrument to detect and prevent such forms of fraudulent activities.