Full Fledged vs Shared/Outsourced Takaful Operators: A Maqasid Index Approach

The purpose of this study is to compare the performance of a full-fledged takaful operator versus shared or outsourced operators in Malaysia. Currently in Malaysia, there is only one full-fledged takaful company which bases its operation on the Shariah principles without conventional counterparts. In this paper, full-fledged takaful company refers to a takaful operator with no conventional parent or subsidiary. The paper uses the maqasid index approach which implements certain ratios based on the objectives of Shariah. The objectives of Shariah are threefold; first is to educate the individual, second is to establish justice and third is to maintain public interest. These objectives are well-suited to and consistent with the sustainable development goals (SGDs) within the financial institutions (FIs) to enhance a healthier economic system. The study used a maqasid index approach on six takaful operators in Malaysia to see whether there are any differences among the operators which are full-fledged takaful companies and those having shared or outsourced functions. The result showed that being a full-fledged takaful operator does not hinder financial institutions to have an acceptable Maqasid index figure by using the approach in this study. In fact, from the findings, a full-fledged takaful operator showed the highest Maqasid index compared to other types of takaful operators in Malaysia. Due to the limited data availability, the study only focuses on selected companies and variables in order to implement the use of ratios. This paper reflects the importance of the study to enhance that Islamic financial institutions should grow in achieving Malaysia’s goal to become an Islamic financial hub.This paper fulfils a gap towards the area of Islamic insurance, which is still very new compared to other topics in Islamic finance.

Abstract 17544: Reproducibility Between Online and Offline Analysis of Qualitative Optical Coherence Tomography Results After Stenting in non-ST Elevation Acute Coronary Syndromes

Introduction & Hypothesis: We evaluated reproducibility between online and offline analysis of optical coherence tomography (OCT) results of angioplasty with stent implantation in non-ST elevation acute coronary syndromes (NSTEACS). Methods: In a prospective series of consecutive patients undergoing angioplasty of a single lesion responsible for NSTEACS (symptom onset <48 h) with use of OCT to optimise procedural result, we compared presence of thrombus or tissue protrusion, residual dissection, stent malapposition, stent under-expansion, complete coverage of the lesion and side branches by the stent, as assessed online by the operator, versus results of offline analysis by two independent observers. Stent underexpansion was defined as a ratio of in-stent minimal lumen area (MLA) to average reference MLA <80%. Other definitions were based on available consensus documents. Agreement was calculated using the Kappa coefficient with 95% confidence interval (CI). Results: 31 procedures were analyzed. Mean age was 65.7±8 years; 24 (77%) were men. Lesions were situated on the left anterior descending (n=14), right coronary (n=10) or circumflex artery (n=7). Results are shown in the table. Conclusion: There is good agreement between online and offline analysis for stent malapposition, and coverage of the lesion and side branches by the stent. Conversely, presence of thrombus and/or tissue protrusion, and residual dissection is under-estimated during online evaluation.

Essay on Fractional Riemann-Liouville Integral Operator versus Mikusinski’s

This paper presents the representation of the fractional Riemann-Liouville integral by using the Mikusinski operators. The Mikusinski operators discussed in the paper may yet provide a new view to describe and study the fractional Riemann-Liouville integral operator. The present result may be useful for applying the Mikusinski operational calculus to the study of fractional calculus in mathematics and to the theory of filters of fractional order in engineering.