Libyan Islamic Banks and their Importance in Achieving Development

This research paper seeks to highlight the role of Islamic banks in achieving development and its importance in Libya. These financial institutions are a humanitarian and social development message aimed at collecting funds and achieving the optimal use of resources in accordance with the rules and provisions of Islamic law to build an Islamic solidarity community, as well as employing money in investment projects that help achieve Economic and social development in Libya and thus achieving sustainable development through various Islamic financing formulas. This study reached a set of results, including that Islamic banking financing for economic projects is good and is increasing in recent times and that economic development is the goal of every country to develop its weak economy.

The Reality of Governance for the Financial and Administrative Control Authority in the Sultanate of Oman: Reality and Challenges

This study aims to identify the reality of governance for the Financial and Administrative Control Authority in the Sultanate of Oman. The problem of the study is that the Financial and Administrative Control Authority in the Sultanate of Oman is making many efforts to popularize procedures and methods through the tasks carried out by the Financial and Administrative Control Authority to improve the economic performance of institutions and to discover financial and administrative violations that workers may commit during a certain period of time. The importance of governance is highlighted in many matters, most notably the need to respect the laws and regulations that institutions follow, and that governance contributes to exposing professional errors and increasing the experiences of workers, especially those working in the financial and administrative fields, in order to achieve the highest levels of job discipline. Governance contributes significantly to achieving the long- and medium-term goals of institutions and companies. The study followed the descriptive analytical approach to describe and analyze the role of governance in the financial and administrative control body in the Sultanate of Oman. The current study concluded that governance in the Financial and Administrative Control Authority in the Sultanate of Oman is based on several pillars, including work ethics in financial institutions and the continuity of oversight, follow-up and oversight. The study recommended the necessity of applying governance mechanisms in Omani institutions.

The Role of Islamic Finance in Achieving Sustainable Development in Libyan Institutions

This paper aims to study Islamic financing formulas in terms of their impact on achieving sustainable development, and alerting points of influence and distinction, and the research problem lies in revealing the status of Islamic financial institutions. Achieving sustainable development, and Islamic financing formulas are important and related to the dimensions of sustainable development. If used optimally, it achieves sustainable development, and Islamic financing formulas directly affect aspects of sustainable development by providing social stability, economic advancement, and commercial movement, and they also contribute to environmental development because they do not allow transactions that lead to damage and waste of resources. The study descriptive analytical approach and the study concluded that Islamic financial institutions should diversify their products so that Islamic financing formulas achieve their goal in contributing to the development of all aspects of sustainable development, whether on the social, economic or environmental level and not limited to one product without the other.

E-Marketing in Islamic Banks: A Theoretical Study in the Exploitation of Social Media in Islamic Banking Services

There was a need to study some efforts and marketing strategies to build a wide awareness of e-marketing in Islamic banks. E-marketing can be adopted as a marketing approach in promoting Islamic banking products and services. Based on this, this research aims to identify the electronic banking services provided by Islamic banks, to identify the extent of the spread of these services, and to know the obstacles to adopting electronic marketing in Islamic banks. To achieve the objectives of the current study, the research methodology will depend on the following: Theoretical aspect: In this study, the descriptive analytical method was used to study the obstacles to adopting e-marketing in Islamic banks, where it was relied on books, periodicals, literature, pamphlets, references, previous studies, and other published researches related to the topic studying. The results revealed that in order to increase literacy and inclusion and expand the market share of Islamic banking products and services, digital marketing plays a role in building public trust, supporting traditional marketing, developing digital campaigns, and mapping target markets. The research recommends that banks should continue to improve their electronic banking services and ensure that these services are free and easy to use to suit all customers' requirements, and that the banking service provider monitors developments in the world of technology, and that the full picture of electronic banking services is improved by banks.

Permissibility of Third-Party Guarantee for Capital in Mudhārabah based on Maslahah; A Study In light of the resolution of (SAC-BNM)

This research studies public interest (Maslahah) and its consideration in Shari’ah. its classifications and regulations and the significant role it plays in establishing evidence on the contemporary juristic issues. More especially. in the field of Islamic finance and banking sector which issues are increasingly growing and expanding in recent times. The research studies one of these issues. which is the of permissibility of a third-party guarantee of capital in Mudhārabah transaction based on the notion Maslahah. The study was conducted on basis of the resolution adopted by the Shari’ah Advisory Council. Bank Negara Malaysia. (SAC-BNM) on the issue. The researcher used descriptive research method on descriptive related studies to describe the issue. while analytical method was used in analyzing the issue. critically discussing it and providing solution over it. Of the findings arrived at by the researcher are the third-party guarantee is permissible. if he is independent of Mudarib and Rabbul mal. benefactor and there is misconduct or negligence by him. The guarantee is not permissible if it is proven that the capital has been damaged without misconduct by Mudarib. and when the capital is damaged in the normal circumstances. if Mudarib establishes evidence that the damage occurred without misconduct or negligence on his part. it is not guaranteed in order to preserve his interest. and if he is unable to provide evidence that he has not violated the capital. it is guaranteed. in order to preserve the interest of Rabbul mal. and this is the interest consideration.

The Means and Pretexts and their Applications in Islamic Financial Engineering

The rooting methodological concepts of Islamic Financial Engineering was not free of being overlapped, especially since there is no mechanism controlling the efforts made in financial transactions. Thus, there was a need to enhance awareness of the most effective fundamentalist tools and to organize their ABCs according to Sharia data. Therefore, through demonstrating the methodology of formulating Islamic financial engineering tools, the current study aims to identify the concepts of Means and Pretexts. In describing and analyzing the concepts, as well as revealing the relationship between their different dimensions, the descriptive deductive approach was used. The researcher recommends Islamic financial engineering scholars to attract their attention towards the importance of developing a clear methodology related to eliciting contemporary financial judgments.

Types of Waqf in Oman

The Omani Waqf institution is one of the oldest waqf institutions in the Islamic world. This is because Omanis voluntarily accepted Islam, individually and collectively early in the sixth year of the Hijrah. Some researchers believe that the first waqf in Oman was established by the Companion Mazen Bin Ghadouba Al-Tai’s. Since then, the waqf institution has played a prominent rule in Omani society. This article reveals the literatures of Omani waqf and discusses a brief historical development of the waqf institution in Oman followed by how it differs from other waqf institutions in the Islamic world. The main question of this study is; what are the types of waqf in Oman? To answer this question; content analysis as a research method is used. The study has three main objectives. The author found 60 types that are used and repeated in most waqf deeds. Waqf for children dominated the Awqaf of Omanis in the Sultanate of Zanzibar during the days of Omani rule. This was unlike the endowments in the mainland Oman. Waqf to Mosques is the most common type of endowment in Oman.

Providing Qard Hasan from Zakat Fund for Non-Recipients of Zakat: A Shariah Analysis Study

Zakat is one of the pillars of Islam, it is considered as Islamic financial system. The paper aims at discussing the opinions of Muslim scholars regarding the permissibility of granting a soft loan from the Zakat sources; by spending their resources in ways that are not specified by the Qur’an, and the Sunnah. The research methodology applied in this paper is analytical and inductive methods which are adopted to study the view of classical and contemporary scholars, and to analyzing the views of advanced and contemporary jurists. Muslim scholars have different opinions regarding the permissibility of granting a soft loan from the Zakat sources based to various doctrines as follows: the first opinion States that it is permissible to grant soft loan using zakat revenues; this opinion was supported by Al-Maududi, Abdulrahman khalaf and Abu-Zuhra among others. The Second opinion says that it is forbidden to grant soft loan using zakat revenues; this was seconded by Rafiq Yunuss, Jadal Al-hāqī and others. The Third opinion states that it is permissible to grant soft loan using zakat revenues with specific conditions. The proponents of this were Abu satar, Muḥāmād Azukheil and among others. The study concludes with major results as follows: It is not permissible to use zakat revenues without specific aims set up for it; because it is violation of the Quranic text and the intent of Islamic Sharia of Zakat expenditures. The paper recommended to Zakat institutions to establish a fund to povide Qard Hasan to non Zakat recipients.

Opinions of Shaikh Ali Al- Qaradaghi in the Issues of Debt Arrears in IFIs A Comparative Study with Institutional Ijtihād

Almost all the transactions done by Islamic financial institutions comprise of debts which are measured in local or foreign currencies. This study aims at presenting and discussing opinions of Sh. Shaikh Ali Al- Qaradaghi in issues related to debt arrears settlement as faced by IFIs and prioritizing its usage. The study will discuss the overall principles of debts in general, and about the bad debts in particular. Also, the study discussed standards and Shari’ah pronouncements about debts and arrears settlement issued by organizations and Shari’a boards which focus on issuing pronouncements and standards in the Islamic financial industry. Also, the study discussed opinion of Sh. Ali AlQaradaghi about debts arrears and comparing it with opinions of ijtihād organizations as per the sequence arranged by the researcher. The study found that difference in opinions is existing while dealing with a procrastinating debtor, but for insolvent debtor, so there is no difference of opinion between Shaikh Ali and other except Shariah Standards of Bank Negara Malaysia with no different treatment between a procrastinating and insolvent debtor. The study further arrived at that acceleration of installments and alternatives to bad debts are based on four aspects: acceleration of remaining installments, compensation due to harm of inflation during the arrears, imposing financial penalty, and liquidated damages. This is concerning all the ijtihād bodies. However, Shaikh Ali’s view goes around two aspects: acceleration of remaining installments and compensation due to harm caused by hyperinflation. The study found that there is 71% homogeneity in all the solutions between the opinions of Shaikh Ali and other bodies, and 50% homogeneity for the solution of compensation for harm of inflation. The researcher presented some recommendations, and some of the important ones are working towards unifying the alternatives at least in one country, subsequential treatment of treating bad debt starting from partial acceleration of installments in tandem with the harm of inflation, and finally going for harm of inflation which can be adopted by those who take the view of Shaikh Ali.

دفع التعارض بني النصوص: حديثا تصرف املرأة ف مال زوجها و خيار اجمللس، منوذجا

This research aims to clarify a recent concept of the majlis’s choice, and the woman’s disposition of her husband’s money without his permission, and they are: on the authority of the Prophet r, He said: “The two sales are by choice unless they are separated. On the authority of the Prophet Muhammad, he said: “If a woman spends from her husband’s earnings, other than his command, then he will have half his wages.” There is no doubt that the two hadiths appear to be problematic, so the study came to raise the problems mentioned about them, and to explain the scholars' approach to solving them, and the importance of this research is evident in knowing that the texts of the two revelations do not have a real contradiction in them, rather the contradiction is apparent, that is, by the beholder and the researcher, and so The texts of the two revelations are valid for every time and place, and they should not be discarded out of confusion. The scholars have explained the problems mentioned in the texts of the two revelations, and they have shown ways to counteract these problems and combine the texts of the two revelations. The researcher has followed the scientific methods in the research with the analytical method: by explaining and analyzing the hadiths contained in the research, with an explanation of the problems contained in them, and the critical approach: After analyzing and editing the texts, the researcher criticizes the problems that fall between the texts of the Sunnah in support of the words of the scholars. Among the findings of the researcher is that forms may occur between legal texts that he thinks are in conflict, or between text and consensus, analogy, history, or reason. And that combining evidence is more important than weighting, because it does not waste evidence. This is what the scholars have decided and followed in the research, provided that the gathering is not arbitrary and arrogant .