A Critical Analysis of Sharīʻah Issues in Intangible Assets

Bouheraoua, Said; Mohamad, Shamsiah; Kasri, Noor Suhaida

doi:10.12816/0019269

Cited by 2 publications

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“…Financial assets refer to intangible properties that represent a claim on ownership of an entity or contractual rights to future economic benefits that may flow to the owner. In other words, a financial asset represents the contractual right to receive cash or other financial assets (Bouheraoua et al, 2014). Common types of financial assets include shares, Á sukūk and unit trusts.…”

Section: Definition Of Unit Trust and The Recent Development Of Unit mentioning

confidence: 99%

Proposed models for unit trust waqf and the parameters for their application

Sulaiman

Hasan

Noor

et al. 2019

IJIF

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Purpose This paper aims to present the viability of unit trust waqf (Islamic endowment) as an alternative asset class for waqf creation. Design/methodology/approach This paper starts with the conceptual exploration of the literature in the areas of waqf. The sources of the literature cover authentic sources of the Qurʾān and ḥadīth, as well as secondary sources such as books, journal articles and online resources. Findings This paper provides the conceptual framework of five models of unit trust waqf and their investment management parameters. Originality/value The novelty of this paper lies in its attempt to highlight the importance of waqf investment strategy in ensuring sustainable returns for waqf. It does so by introducing the conceptual models of unit trust waqf as viable mechanisms to pool more cash waqf from individual investors. The sustainability of the capital waqf assets in the form of unit trusts is maintained through the parameters for its application proposed towards the end of the paper.

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Section: Definition Of Unit Trust and The Recent Development Of Unit mentioning

confidence: 99%

Proposed models for unit trust waqf and the parameters for their application

Sulaiman

Hasan

Noor

et al. 2019

IJIF

View full text Add to dashboard Cite

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“…However, Khattak et al (2015) found that there is a lack of clarity with regards to rights and remedies associated with intangibles in some Islamic jurisdictions. Bouheraoua et al (2013) have also found important Sharīʿah issues related to intangible assets such as gharar fā Á hish (excessive uncertainty) in the identification and determination of the intangible assets due to their non-physical attributes and the probabilistic nature of their future benefits. They have identified two Sharīʿah views on this issue.…”

Section: Introductionmentioning

confidence: 99%

Financial reporting of intangible assets in Islamic finance

Alhabshi

Rashid

Agil³

et al. 2017

IJIF

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Purpose -This paper aims to address the financial reporting dimensions of intangible assets with specific reference to International Accounting Standards (IAS) 38 as well as relevant International Financial Reporting Standards (IAS 38 exclusion) that are embedded within intangible assets. These have implications for Islamic financial assets with identifiable and measurable intangible components.Design/methodology/approach -The study uses the qualitative research method by way of interviews followed by focus group discussions with professional accountants/accounting academics and Sharīʿah scholars/advisors from academia, the industry and regulatory bodies. Analysis of relevant literature is made to understand the subject matter and Sharīʿah-related issues.Findings -The study observes that the accounting dimensions of tangible assets are generally consistent with Sharīʿah requirements. However, significant variation arises when the dimensions of intangible assets are represented in financial assets.Research limitations/implications -The paper presents an exploratory in-depth analysis within the context of intangible assets as specified in IAS 38.Originality/value -The paper elucidates the comparative accounting dimensions and Sharīʿah requirements in reporting financial assets.

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A Critical Analysis of Sharīʻah Issues in Intangible Assets

Cited by 2 publications

References 0 publications

Proposed models for unit trust waqf and the parameters for their application

Proposed models for unit trust waqf and the parameters for their application

Financial reporting of intangible assets in Islamic finance

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