TRANSLATION

Monday, April 25, 2016


MAQASID AL SHARIAH IN THE GOVERNANCE AND MANAGEMENT STRATEGY OF ISLAMIC TOURISM BUSINESSES 


Nor’ain Othman, PhD, & Rozian Mohd Taha
Universiti Teknologi MARA, Malaysia
&
Shaya’a Othman
Universal Crescent Standard Center

 ABSTRACT

 Islamic tourism can be seen from a different perspective as compared to the conventional tourism such as economic, cultural and religious perspectives. Travelling and exploring for the purpose of seeking knowledge, enriching one’s experience and improve one’s character has been encouraged by Islam. The development of Islamic tourism give rise to the various business components within the tourism industry which include tour operators, hotels, airlines and restaurants to restructure their products and services towards halal or shariah compliance or Muslim friendly to meet the demand of the growing market segment. According to the United Nations World Tourism Organization (UNWTO), international tourism continued its momentum with a 5% growth, or an additional 52 million international tourists, recorded a world total of 1.087 billion arrivals in 2013. The management of tourism businesses should look beyond profit and should adopt good governance from the Islamic perspectives to meet the demand of the Muslim travelers. This paper attempts to examine the management strategy of current tourism business such as hotels and tour operators in the light of their moving towards Maqasid al-Syariah or, in other words, ‘the spirit of the Islamic Syariat’. Muslim scholars are of the opinion that the ultimate objectives [maqasid al-Syariah] which are a necessity [al-daruriyyah] for mankind to be able to live peacefully in this world, according to al-Quran and al-Sunnah, include five main areas – [1] protection of life, [2] protection of al-Din [Islam], [3] protection of human generation, [4] protection of intellect, and, lastly, [5] protection of wealth or resources. From a review of the related literature, little is mentioned or discussed about tourism businesses working towards achieving these ultimate objectives or Maqasid al-Syariah.


FULL TEXT [ Please click the link to website below]:

http://www.iais.org.my/e/attach/2015/maqasid2015/pdf/s3s4_paper.pdf

Thursday, March 31, 2016

THE BEST MANAGEMENT MODEL FOR MANAGING WAQF INSTITUTION FOR EDUCATIONAL DEVELOPMENT

By SHAYA'A OTHMAN

Comparing several Waqf Institutions in Turkey and Malaysia,  waqf institutions in Turkey are well structured and such institutions having a long history of success since the great era of Ottoman Empire. The spectrum of Waqf activities during Ottoman Empire included all activities of life as shown in the following diagram.



Since the period of Ottoman Empire and till today, Turkish society believed in the concepts of putting good work and making favors for others as well. They are competing with one another in charity. This practises have been instrumental in the development of waqf culture and thus creating many Waqf Institutions.





Until today Waqf Institutions in Turkey focus  mainly in development of Educations such as establishing Universities and schools.




It is observed that the success of Waqf Institutions in Turkey is based on 5 Critical Success Factors namely [1] Productive [2] Accumulative [3] Sustainable [4] Financially Self-sufficient , and [5] Administratively Self-sufficient




Please Click the following slides to learn more details of how Waqf institutions are being managed in Turkey and Malaysia. It was presented at The International Conference, Islamization and Integration of Knowledge in East and South East Asia Region: Challenges and Prospects organised by International Institute of Islamic Thought [IIIT] & University of Aceh Indonesia on 2016.2.1 [Note there is an error in the slide].

The same presentation was also presented to Universiti Islam Malaysia[UIM] Cyberjaya Malaysia on 2016.4.8. as 1st Waqf Talk Series [ITS-1]  organised by International Institute of Waqf and Islamic Finance Management [I-WAQF], Universiti Islam Malaysia [UIM].



Wednesday, October 21, 2015

ISLAMIC FINANCE AND OPPORTUNITIES PROJECTED TILL 2020



ENGLISH: Interest or 'riba' is the biggest sin in Islam. As mentioned in the Holy Quran, Chapter 2, Verse 279, it is the only sinful act that Allah declares war. Today Islamic Finance is only 1% of World Total Financial Asset Management. It means that 99% of Financial Asset is locked in Interest or 'riba'. In other word significant number of mankind including Muslims indulging in sinful act of 'riba'. It is a big responsibility for every Muslim to propagate Islamic Finance in any form to the Muslims and mankind at large.


MALAY : Riba adalah merupakan satu dosa yang amat besar. Sepertimana yang dinyatakan di dalam Al Quran Surah 2 Ayat 279, bahawad riba merupakan dosa yang Allah istihar perang pada mereka yang mengamalkannya. Hari ini Pengurusan Aset Kewangan Islam merupakan 1% sahaja dari jumlah Pengurusan Aset Kewangan Dunia. Ini bermakna sebilangan besar manusia termasuk Umat Islam mengamalkan riba bergelumang dengan dosa besar ini. Adalah menjadi satu kewajiban besar kepada setiap individu Muslim memberi dan membantu dalam apa bentuk pun untuk memberi kesedaran dan melaksanakan Kewangan Islam kepada Umat Islam dan manusia keseluruhannya. Wa-Allah-hu-a'lam


PLEASE CLICK THE LINK BELOW TO GO THROUGH THE SLIDE PRESENTATION 




PROJECTED TO 2020 BASED ON STRATEGIC OPTIONS BASED ON PUTTING POSSIBLE ACHIEVABLE TARGETS AND MUSLIM NATIONS PLAY  MORE AGGRESSIVE EFFORTS

PROJECTED  TO 2020 BASED ON CURRENT GROWTH RATE

Saturday, December 20, 2014

ISLAMIC MANAGEMENT IN FINANCE
Islamic Banking

MALAYSIA pioneering and leading the world in Islamic Finance providing Muslims and all mankind the way out from the biggest sin of  'riba' and the war of Allah to those who are engaging in giving or taking or providing services in any kind of activities involving  'riba'. It is our obligations without any choice, to migrate totally from activities of 'riba' to non- 'riba'.

Banking and Insurance are the main activities in business as well as in our daily life. In early 1960s we never heard of Islamic Bank or Islamic Insurance and we were exposed to interest banking or financial system, which we had no other choice but to involve in these un-Islamic activities. Muslim is strictly prohibited to take , give, and providing activities relating to 'riba' as clearly stated by Allah in the Quran Surah 2:275


As a Muslims we have to avoid ourselves from activities which involve 'riba' or interest. This is because 'riba' is one of the biggest sin and the only sin that Allah declares war on those involve in taking or giving or providing services in 'riba', as clear stated in the Last Testament, the Holy Quran in Surah 2:279.



Muslim Management experts from Malaysia formulated the first Islamic Financial System by introducing an Islamic Financial Institution known as Lembaga Tabung Haji Malaysia [Haj Fund Board]  [TH]in 1963, and later introduced Bank Islam Malaysia in 1983 to the business activities. Indeed Malaysia is pioneering and leading the world in implementing Shariah Management in Finance.

Today TH has grown into an Islamic Financial Power House in Malaysia with Group asset of RM 49.5 billion or USD 16.5 billion, in 2013, The investments of TH, which are all strictly according to Shariah, are spreading all over the world. The financial detail of TH Group is shown in the following table:



The development of Islamic Management in Finance which is in conforming to Shariah [Islamic Laws] is very encouraging and being accepted by all Muslims and Non-Muslims alike. In 2013. Malaysia leading the world by issuing the biggest amount of Suku [Islamic Bonds] a total of USD 37 billion which was 63% of the suku issued all over the world, followed by Saudi Arabia USD 9.3 billion, United Arab Emirate [UAE] USD 5.2 billion , Indonesia USD 2.8 billion, and all other countries, USD 4.7 billion,

Today Islamic Management in Finance plays a very important role in all field of business activities as well in our lifestyle all over the world, The United Kingdom Islamic Finance Reported that currently in 2014,  Global Islamic Asset is estimated to be USD 2.0 trillion.



Islamic Finance provides Muslims and all mankind the way out from the biggest sin of  'riba'  and the war of Allah to those who are engaging in giving or taking or providing services in any kind of activities involving  'riba'. It is our obligations therefor, without any choice, to migrate totally from activities of 'riba' to non- 'riba'.


Malaysia still leading the world of developing Islamic Management in Finance. According to the latest Islamic Finance Development indicators Ranking, Malaysia remain the the Top No 1 of the top 10, with 93 points, followed by Bahrain 76 points, Oman 64 points , United Arab Emirates 57 points, and the last bottom in the ranking is the Saudi Arabia 31 points and followed by Brunei 29 points.

Wednesday, January 22, 2014

STATISTICS & MANAGERIAL ETHICS : OVERVIEW OF PROBLEMS AND TOTAL SOLUTIONS INCLUDING MAQASID AL SHARIAH

ISLAMIC MANAGEMENT: Maqasid Al Shariah as Total Solution to Abuse of Statistics and Managerial Ethics


By SHAYA'A OTHMAN



Redefinition of Statistics 

I would like to redefine Statistics as " Statistics is a scientific method of collecting, organizing, presenting, analysing and interpreting numerical information, developed from mathematical theory of probability, within the ethical values of  Maqasid al-Sharia


It is proposed that the solution to the problems of Managerial Ethics is by means of integrating Maqasid Al Shariah with the Managerial Functions

 

The total solution is applying Maqasid Al Shariah in all important areas namely, at individual and professional levels, at school and university, in society and organization.


To know more please CLICK HERE or the SLIDE BELOW. You can download the full slide and it is free for you to use it or share it to others. The best gift to a friend is knowledge.