scholarly journals Legislation Fatwa National Sharia Board-Indonesian Council of Ulama (DSN-MUI) In the State Economic Policy

2018 ◽  
Vol 6 (1) ◽  
pp. 71-94
Author(s):  
Fitriyani Zein
Keyword(s):  
Economic Policy ◽  
National Economy ◽  
Islamic Law ◽  
Banking System ◽  
Supervisory Board ◽  
The State ◽  
Muslim Community ◽  
The World ◽  
Political Stance ◽  
The Impact

Abstract: The impact of the development of Sharia Banking System in Indonesia has led to the establishment of Sharia Supervisory Board and the National Sharia Board. Each institution has a different role. As for the DSN which is an institution under the Indonesian Council of Ulama has the authority in regulating the fatwa (a binding rule in religion) of Islamic financial fatwa which later can be referred as the reference of sharia banking actors, so that this role will close the chance of legal uncertainty in the world of Syariah banking. This is as the rule: "Judge's law eliminates dissent.” Herein lies the significant presence of the National Sharia Board. So that the legislative efforts of DSN-MUI fatwa are an Islamic political stance that seeks to convince that Islamic law can not be separated from the state. Therefore, the legislation of the DSN-MUI fatwa is a necessity for the Muslim community of IndonesiaKeywords: Legislation, National Economy, National Sharia Board. Abstrak: Dampak perkembangan Sistem Perbankan Syariah di Indonesia menimbulkan adanya kebijakan pembentukan Dewan Pengawas Syariah dan Dewan Syariah Nasional. Masing-masing lembaga memiliki peran yang berbeda. Akan halnya DSN yang merupakan lembaga di bawah Majelis Ulama Indonesia memiliki kewenangan dalam hal melakukan regulasi fatwa-fatwa keuangan syariah yang nantinya dapat dirujuk sebagai acuan para pelaku perbankan syariah, sehingga dengan adanya peran ini menutup peluang ketidakpastian hukum di dunia perbankan syariah. Hal ini sebagaimana kaidah: “Hukum yang ditetapkan hakim menghilangkan perbedaan pendapat.” Di sinilah letak signifikan kehadiran Dewan Syariah Nasional. Sehingga upaya legislasi fatwa-fatwa DSN-MUI yang dilakukan merupakan sikap politik Islam yang berupaya meyakinkan bahwa hukum Islam tidak dapat dipisahkan dari negara. Karenanya legislasi fatwa-fatwa DSN-MUI merupakan suatu keharusan dan kebutuhan bagi masyarakat muslim IndonesiaKata Kunci: Legislasi, Ekonomi Nasional, Dewan Syariah NasionalDOI: 10.15408/jch.v6i1.8267 

scholarly journals THE IMPACT OF GLOBALIZATION ON THE SHAPING OF UKRAINE'S FOREIGN ECONOMIC POLICY

2020 ◽  
pp. 130-141
Author(s):  
Uliya STAVSKA
Keyword(s):  
Economic Policy ◽  
World Economy ◽  
The State ◽  
Economic Life ◽  
Investment Model ◽  
Modern World ◽  
Foreign Economic Policy ◽  
Economic Relations ◽  
The World ◽  
The Impact

The article deals with the problems of realization and improvement of Ukraine's foreign economic policy in the conditions of globalization. The economic revival and self-determination of Ukraine, which are inextricably linked with its entry into the modern world economy, with the search for its place in the processes of globalization, are investigated. The global tendencies of formation of the modern market economy, which characterize a new type of economic systems of the XXI century, which develop on a market basis while regulating the economic life of society by the state and maintaining the social stability of society, are found out. The problems of Ukraine's integration into the world economy have been identified. It is determined that the modern national economy is not simply included in the system of world relations, but is its active equal subject. The country's global competitiveness index and its rating have been formed. The influence of globalization on the shaping of Ukraine's foreign economic policy is analyzed. It is proved that the choice of the model of development of the Ukrainian national-state economic system is caused not only by internal but also by external factors. Recommendations have been made to improve Ukraine's position on the world stage. The models of export-oriented or import-oriented production, which are determined by the goals of the foreign economic policy of the state, are considered. The examples of creation of production and investment model of economic relations at the enterprises of Ukraine are given. Proposals for improvement of Ukraine's foreign economic policy have been elaborated, aimed at creating favorable conditions for regulating economic relations, which provide competitive advantages and attracting foreign investments in the conditions of globalization. Approaches have been established that determine the priorities of the country's foreign economic policy making, the strategy and tactics of which are determined by the socio-economic features of a particular country's development.

2008 Economy Results: The End of the "Fat" Years

2009 ◽  
pp. 4-25 ◽  
Author(s):  
B. Zamaraev ◽  
A. Kiyutsevskaya ◽  
A. Nazarova ◽  
E. Sukhanov
Keyword(s):  
Economic Crisis ◽  
National Economy ◽  
Banking System ◽  
Housing Markets ◽  
Transmission Mechanism ◽  
Economic Conditions ◽  
Basic Change ◽  
Russian Economy ◽  
The World

The article analyzes the current economic conditions in Russia. Succession, distribution and the transmission mechanism of the world financial and economic crisis to the Russian economy are considered in this article as well as the changes in the banking system, share and housing markets. Production, consumption and investment on the boundary of 2008-2009 are described. The conclusion about the basic change of conditions of national economy development is presented.

TOURIST BUSINESS DEVELOPMENT IN UKRAINE

2019 ◽  
pp. 39-46
Author(s):  
Stefania Mosiuk ◽  
Igor Mosiuk ◽  
Vladimir Mosiuk
Keyword(s):  
National Economy ◽  
Methodological Approach ◽  
Business Development ◽  
Tourism Industry ◽  
The State ◽  
Complete Analysis ◽  
Resource Potential ◽  
The World ◽  
Potential Resource ◽  
Favorable Conditions

The purpose of the article is to analyze and substantiate the development of tourism business in Ukraine as a priority component of the national economy. The methodology of this study is to use analytical, spatial, geographical, cultural and other methods. This methodological approach provided an opportunity to carry out a complete analysis of the state of the tourism industry of the state and to draw some conclusions.The scientific novelty lies in the coverage of the real and potential resource potential for the development of the recreational and tourism sphere in Ukraine, detailing the measures for the country ‘s entry into the world tourist market. Conclusions. Analyzing the state and prospects of tourism business development in Ukraine, it should be noted that this industry is one of the priority areas for improving the economy of the country. Historical, cultural – ethnographic, gastronomic, sanatorium and resort potentials of the country will lead the country into world leaders of the tourism industry when creating favorable conditions for investment and proper marketing.

Islamic Law and Society

1990 ◽  
Vol 7 (2) ◽  
pp. 177-191
Author(s):  
Louay M. Safi
Keyword(s):  
Composite System ◽  
Islamic Law ◽  
Legal Theory ◽  
Fifth Century ◽  
Muslim Community ◽  
Social Growth ◽  
The Social ◽  
Collective Experience ◽  
Law And Morality ◽  
The Impact

Shari'ah (Islamic law) has been the dominant moral and legal code ofMuslim societies for the gnxter part of their history. During the early centuriesof Islam, Shari'ah hcilitated the social growth and develojment of the Muslims,growth that culminaa in the establishment of a vast emph and an outstandmgcivilization. By the close of the fifth century of Islam, however, Shari'ahbegan to lose its role as the guiding force that inspired Muslim creativityand ingenuity and that nurtured the growing spirit of the Muslim community(Ummah). Consequently, the Ummah entered a period of stagnation thatgradually gave way to intellectual decline and social decadence. Regrettably,this painful trend continues to be more or less 'part of the individualconsciousness and collective experience of Muslims.This paper attempts to trace the development of the principles of Islamicjurisprudence, and to assess the impact of Shari'ah on society. It argues thatthe law ceased to grow by the sixth century of Islam as a result of thedevelopment of classical legal theory; more specifically, law was put on hold,as it were, after the doctrine of the infallibility of ijma' (juristic consensus)was articulated. The rigid principles of classical theory, it is contended, havebeen primarily induced by the hulty epistemology employed.by sixth-centuryjurists.Shari'ah, or Islamic law, is a comprehensive system encompassing thewhole field of human experience. It is not simply a legal system, but rathera composite system of law and morality. That is, Islamic law aspires to regulateall aspects of human activities, not only those that may entail legalconsequences. Hence, all actions and relationships are evaluated in accordancewith a scale of five moral standards.According to Shari'ah, an act may be classified as obligatory (wajib),recommended (mandub), permissible (mubah), reprehensible (makruh), orprohibited (haram). These five categories reflect the varying levels of moral ...

scholarly journals Modelling the impact of delaying vaccination against SARS-CoV-2 assuming unlimited vaccine supply

2021 ◽  
Vol 18 (1) ◽  
Author(s):  
Marcos Amaku ◽  
Dimas Tadeu Covas ◽  
Francisco Antonio Bezerra Coutinho ◽  
Raymundo Soares Azevedo ◽  
Eduardo Massad
Keyword(s):  
Mathematical Model ◽  
Vaccination Campaign ◽  
Vaccination Rate ◽  
Sao Paulo ◽  
The State ◽  
São Paulo ◽  
Health Authorities ◽  
The World ◽  
The Moment ◽  
The Impact

Abstract Background At the moment we have more than 177 million cases and 3.8 million deaths (as of June 2021) around the world and vaccination represents the only hope to control the pandemic. Imperfections in planning vaccine acquisition and difficulties in implementing distribution among the population, however, have hampered the control of the virus so far. Methods We propose a new mathematical model to estimate the impact of vaccination delay against the 2019 coronavirus disease (COVID-19) on the number of cases and deaths due to the disease in Brazil. We apply the model to Brazil as a whole and to the State of Sao Paulo, the most affected by COVID-19 in Brazil. We simulated the model for the populations of the State of Sao Paulo and Brazil as a whole, varying the scenarios related to vaccine efficacy and compliance from the populations. Results The model projects that, in the absence of vaccination, almost 170 thousand deaths and more than 350 thousand deaths will occur by the end of 2021 for Sao Paulo and Brazil, respectively. If in contrast, Sao Paulo and Brazil had enough vaccine supply and so started a vaccination campaign in January with the maximum vaccination rate, compliance and efficacy, they could have averted more than 112 thousand deaths and 127 thousand deaths, respectively. In addition, for each month of delay the number of deaths increases monotonically in a logarithmic fashion, for both the State of Sao Paulo and Brazil as a whole. Conclusions Our model shows that the current delay in the vaccination schedules that is observed in many countries has serious consequences in terms of mortality by the disease and should serve as an alert to health authorities to speed the process up such that the highest number of people to be immunized is reached in the shortest period of time.

Trends and problems of retail Bank lending in modern conditions on the example of «Sberbank of Russia»

2020 ◽  
pp. 156-165
Author(s):  
В.В. Мандрон ◽  
А.Ю. Ефименко ◽  
Д.Г. Свиридов
Keyword(s):  
National Economy ◽  
Positive Impact ◽  
Banking System ◽  
Bank Lending ◽  
Real Income ◽  
Real Estate Market ◽  
The State ◽  
Loan Portfolio ◽  
Effective Development

Эффективное развитие механизмов кредитования физических лиц оказывает положительное влияние не только на рынок недвижимости, автомобильную промышленность, потребительский рынок, но и на темпы развития банковской системы, что значительно влияет на рост национальной экономики и улучшает качество жизни населения РФ. Исследование посвящено ключевым тенденциям и проблемам функционирования рынка розничного кредитования в современных условиях. Определены главные проблемы, которые оказывают существенное влияние на организацию рынка розничного кредитования, его объемы и качество. Проведен анализ данных отражающих состояние рынка розничного кредитования на современном этапе. На состояние данного сегмента кредитного рынка оказывает влияние как общее экономическое состояние государства, курс денежно-кредитной политики Банка России, уровень реальных доходов населения, а также форс-мажорные ситуации. В статье дается оценка объема, состава и структуры кредитного портфеля одного из крупнейших финансово-кредитных институтов страны – ПАО «Сбербанк России». Особое внимание уделено кредитованию физических лиц в разрезе отдельных форм и видов кредитных инструментов, отражается связь состояния национальной экономики и качества кредитного портфеля банка. Effective development of mechanisms for lending to individuals has a positive impact not only on the real estate market, automotive industry, consumer market, but the pace of development of the banking system, which greatly affects the growth of the national economy and improves the quality of life of the Russian population. The research is devoted to the key trends and problems of functioning of the retail lending market in modern conditions. The main problems that have a significant impact on the organization of the retail lending market, its volume and quality are identified. The analysis of data reflecting the state of the retail lending market at the present stage is carried out. The state of this segment of the credit market is influenced by the General economic state of the state, the rate of monetary policy of the Bank of Russia, the level of real income of the population, as well as force majeure situations. The article provides an assessment of the volume, composition and structure of the loan portfolio of one of the largest financial and credit institutions in the country-PJSC Sberbank of Russia. Special attention is paid to lending to individuals in the context of individual forms and types of credit instruments, reflecting the relationship between the state of the national economy and the quality of the Bank's loan portfolio.

scholarly journals Ethical Issues of Organ Transplantation in Islam

1970 ◽  
Vol 21 (1) ◽  
pp. 97-103
Author(s):  
M Mostafa Kamal
Keyword(s):  
Organ Donation ◽  
Organ Transplantation ◽  
Islamic Law ◽  
Ethical Issues ◽  
Ethical Framework ◽  
Value Systems ◽  
Proxy Consent ◽  
Advantages And Disadvantages ◽  
The World ◽  
The Impact

Scientists and clinicians must become familiar with the factors that affect the emotional, physical, and spiritual health of their patients that are outside the ken of the traditionally dominant value systems. Although many researchers have addressed the cultural and ethnical factors, very few have considered the impact of religion. Islam, as the largest and fastestgrowing religion in the world, has adherents throughout the world, presents a complete moral, ethical, and medical framework, while it sometimes concurs conflicts with the conventional and secular ethical framework. This paper introduces to the Islamic principles of ethics in organ transplantation involving human subject to address issues of religion and religious ethics. Historical reflections are discussed as to why Muslim thinkers were late to consider contemporary medical issues such as organ donation. Islam respects life and values need of the living over the dead, thus allowing organ donation to be considered in certain circumstances. The sources of Islamic law are discussed in brief to see how the parameters of organ transplantation are derived. The Islamic perception, both Shiite and Sunni, is examined in relation to organ donation and its various sources. The advantages and disadvantages of brain dead and cadaveric donation are reviewed with technical and ethical considerations. The Islamic concept of brain death, informed and proxy consent are also discussed. The concept of rewarded donation as a way to alleviate the shortage of organs available for transplantation is assessed.    doi: 10.3329/taj.v21i1.3230 TAJ 2008; 21(1): 97-103

scholarly journals TRANSFORMATION OF THE STRATEGY OF STATE ECONOMIC POLICY IN MODERN CONDITIONS

2020 ◽  
Vol 6 (3) ◽  
pp. 107-113
Author(s):  
Iaroslav Petrunenko ◽  
Oleg Podtserkovnyi
Keyword(s):  
Economic Policy ◽  
World Economy ◽  
Raw Materials ◽  
Crisis Response ◽  
The State ◽  
Irreversible Processes ◽  
Economic Damage ◽  
Economic Management ◽  
Foreign Economic Policy ◽  
The World

Complex and contradictory processes of modern social transformations and the need to overcome the crisis in the economy require the appropriate influence of the state and a clear system of socio-economic management through the formation and implementation of effective state economic policy. The main elements of economic policy are financial and credit, budgetary, scientific and technical, structural, social, investment, agricultural, regional, foreign economic policy. The implementation of state economic policy is considered in terms of the relationship between social problems and the state. Therefore, the purpose of the article is to study the essence, tools and methods of state economic policy in modern conditions. It is also necessary to identify the main risks and features of further development of state economic policy of individual states in a global imbalance and crisis. The theoretical part is devoted to the study of the essence of state economic policy, theoretical and practical aspects of its organization in the state, as well as tools that can be used by the state. The resulting part is devoted to the consideration of the situation, in which the world economy has found itself in 2020 in the conditions of the economic COVID-19 crisis. General forecasts have not provided to individual states because it has been impossible to predict the end of the pandemic and the return of the world to normal life. However, it is clear that the world economy has undergone irreversible processes that will synergistically affect different states in different ways. The crisis has hit a significant number of industries, including tourism, logistics, hotel business, the crisis has been felt in world markets: oil prices have collapsed, as well as the stock markets. Undoubtedly, there are areas with a rapid growth, especially the pharmaceutical industry and retail, online delivery services, IT entertainment and communications industry, information marketing business and education and training services. It is likely that the indicators of economic development in the states by the end of the year will be better than the results of the first half of the year. The basic forecast of economic world development assumes a sharp growth of the economy after a short recession after quarantine. The financial capabilities of the EU states vary considerably, but each state must pursue counter-cyclical policies aimed at stabilizing its own economy. The answer to the question of what kind of crisis response policy they can afford depends on the fiscal policy of the states before the crisis. In economically developed states, where emergency measures have been introduced, governments and central banks issue trillions of dollars in government spending, social support of citizens, and interest-free business loans to limit the economic damage of quarantine. At the same time, in Latin America and Southeast Asia, total quarantine is impossible in multi-million cities. Such states have a triple effect of suffering from the virus, the environment and poverty. States dependent on the export of natural resources and raw materials, when faced with the crisis, are forced to sell them for nothing, so they will suffer great losses. More than 150 states have set up anti-crisis headquarters and are taking anti-crisis measures. The authors have also tried to predict how largescale the global economic crisis will be for Ukraine, what consequences await it, and what measures need to be taken to overcome it.

scholarly journals AAOIFI governance standards: Sharia disclosure and financial performance for Islamic banks

2019 ◽  
Vol 8 (1) ◽  
pp. 19-37 ◽  
Author(s):  
Hesham Albarrak ◽  
Sherif El-Halaby
Keyword(s):  
Financial Performance ◽  
Financial Reporting ◽  
Islamic Law ◽  
Supervisory Board ◽  
Positive Influence ◽  
Economic Consequences ◽  
Annual Reports ◽  
Primary Study ◽  
Islamic Banks ◽  
The Impact

The uniqueness of Islamic banks (IBs) is shown through compliance with Islamic law (Sharia) which is approved through Sharia Supervisory Board (SSB) and presented for stakeholders by Sharia Supervisory Board Report (SSBR). This study seeks to achieve three main objectives as follows: (1) it identifies the degree of IBs’ transparency in compliance with Sharia and their commitment with the governance standards that issued by Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI); (2) it aims to measure the impact of adoption AAOIFI on the degree of Sharia disclosure; and (3) it seeks to test the economic consequences of Sharia disclosure based on its impact on financial performance. We analyse content of annual reports and websites of 120 IBs across 20 different countries for year 2016. Regression analysis shows compliance level for Sharia disclosure based on our index for SSBR is 53% with higher level compliance for IBs that apply AAOIFI standards comparing with banks that adopting International Financial Reporting Standards (IFRS). Therefore, adopting AAOIFI has a positive effect on enhancing the degree of Sharia disclosure. Moreover, Sharia compliance has a positive influence on financial performance based on both Returns on Assets (ROA) and Tobin’s Q as a robustness test. This study adds value to Islamic accounting literature by being a primary study. There is a lack of research on the topic and this paper measures the consequences of Sharia disclosure over the financial performance of IBs as well as the role of Islamic standards (AAOIFI) in enhancing the image of Islamic banks through supporting their compliance with Sharia.

scholarly journals Methods of Ukrainian labor migrants reintegration in the context of state migration policy

2019 ◽  
pp. 14-17
Author(s):  
Liubomyr ROMAN
Keyword(s):  
Sustainable Development ◽  
National Economy ◽  
Migrant Workers ◽  
State Policy ◽  
Labor Migration ◽  
Migration Policy ◽  
The State ◽  
Labor Migrants ◽  
The Individual ◽  
The Impact

Introduction. The reintegration of migrant workers is the renewal and accelerated development of ties between the individual and the society, the economic and cultural systems, the restoration of the impact of the individual on socio-economic, socio-cultural and political processes and phenomena, increasing participation in the processes of sustainable development on the basis of introducing elements of economic culture countries of pre-migration. The methodological bases for improving the mechanisms of reintegration of labor migrants should be assessed on the basis of available political and legal support. The problem of labor migration has now taken on a national scale, which brings it out of the limits of the influence of any organization, cluster or individual state authority. The formulation of a strategy for regulating labor migration should be made on the basis of the status of this problem as a national one, therefore, requiring macroeconomic regulation, which will be supported by a strong institutional and regulatory framework. The purpose of the paper is to substantiate the method of reintegration of Ukrainian labor migrants in the context of state migration policy. Results. Theoretical aspects of reintegration of labor migrants are covered. The content analysis of the legal acts of the President of Ukraine is carried out. A number of significant legal acts that have or can have a significant impact on state migration policy are characterized. The peculiarities of the functioning of the central executive body, which implements the state policy in the sphere of migration, and the recent changes in determining the range of subjects of formation and implementation of the state policy in the sphere of labor migration are analyzed. The importance of regulating the issue of investments earned during the emigration of funds into the national economy is substantiated. Conclusion. According to the conducted research, the method of reintegration of Ukrainian labor migrants in the context of the state migration policy is formed under the influence of debates about the factors, directions and forms of support of the respective processes by the state authorities. We believe that the main disadvantage of reintegration institutional support is the lack of a unified approach to the role and importance of repatriates for the sustainable development of the national economy. In our opinion, this approach should be consolidated in the form of the Law of Ukraine with a clear definition of the subjects of assistance to repatriation and reintegration of labor migrants, as well as to strengthen with additional measures of informational, organizational character, tax privileges for investing the money earned abroad for search, development of employers of skilled migrant workers returning to Ukraine.

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