Muhammad Adib Samsudin

HRMARS is well established journal publisher based in Pakistan. It is publishing prominent journals in social sciences since 2011.

Purpose — This study aims to analyse the development of an Islamic business model in the form of an agricultural value chain finance (AVCF) in Agrobank, Malaysia, from 2016 to 2020. Design/Methodology/Approach — This qualitative research adopted the case study approach, and data were collected by using the interview and document analysis methods. The interviews involved a member of the Shariah committee as well as the Chairperson of the Shariah department in Agrobank. The document analysis involved Agrobank’s annual report and its official website (www.agrobank.com.my). Findings — Findings indicate that Agrobank’s business model not only considers how to make profit but also how to practice and propagate Islamic values. Hence, Agrobank has modified the AVCF from trade finance to Sharīʿah finance contracts. This ensures that Agrobank’s business does not contradict Sharīʿah principles. However, mushārakah (participatory mode of finance) and muzāraʿah (temporary sharecropping) contracts, which are appropriately reputed, were not applied by Agrobank for the last five years. Findings show that qarḍ (loan), bayʿ al-ʿīnah (sale and buyback), bayʿ bi thaman ājil (deferred-payment sale), murābaḥah (sale with profit disclosure), tawarruq (two sale-and-purchase contracts, involving at least three parties, with the intention being to attain liquidity), and ijārah (lease) are contracts that positively affect businesses in Agrobank. These contracts provide flexibility for some people who are involved in the value chain. Originality/Value — This is an attempt to study the application of AVCF from an Islamic perspective in Agrobank. Research Limitations/Implications — Discussions in this paper are limited to AVCF as an Islamic business model in Agrobank. Practical Implications — This study encourages Islamic financial institutions (IFIs) to adopt the Islamic AVCF system through lessons learnt from Agrobank.

There are various views concerning the cryptocurrency issue. The majority of scholars and world Islamic bodies, such as Dar al-Iftā 'al-Miṣriyyah (Egypt), Dar al-Iftā' al-Falasteeniyya (Palestine) and the Turkish Directorate of Religious Affairs, do not permit cryptocurrency for various reasons, including the existence of uncertainty (gharar), risk (khatar) and the fact that it facilitates (wasilah) the crime of fraud and money laundering. However, some Islamic financial and religious scholars do permit it. One scholar who views cryptocurrency positively and believes that it should be permitted is Mohd Daud Bakar, who is the Chairperson of the Shariah Advisory Council of Securities Commission Malaysia (SC) and former Chairperson of the Shariah Advisory Council for Bank Negara Malaysia (BNM). He is also former President of the International Islamic University (IIUM) and the chairperson or international Shariah advisor at various financial institutions around the world, including the S&P Islamic Index and Dow Jones Islamic Market Index (New York). His extensive experience of more than 25 years in this dynamic field has made him a leading and important reference expert. In 2015, in a report released by the Global Islamic Finance Report (GIFR), he ranked sixth among the world’s 10 Islamic finance experts. This success has made him an expert, not only in the field of Usul al-Fiqh which is the core knowledge base of Islam, but also beyond the field of Islamic finance and law. This paper analyses the validity of Mohd Daud Bakar’s views on cryptocurrencies within the scope of Usul al-Fiqh according to the ‘illah, ‘urf, sad zarai’ and fatḥ zarāi’ methods. This qualitative study had obtained data from Facebook Live video recordings, reports and articles, which were then analysed using the descriptive content analysis method. It can be concluded from an ‘illah (legal operative cause) aspect that there is no acceptable ‘illah for banning this currency. From the point of view of al-’urf, cryptocurrencies are acceptable and do not contradict the principles of Shariah. Whereas from the point of view of sad zarāi’, this study found no solid evidence that it could lead to deleterious circumstances other than mere conjecture and assumption, hence, the introduction of cryptocurrencies should be permitted or made accessible. He also suggested the use of the fath zarāi’ method, which is better suited for creating opportunities for innovation and creativity of financial products based on financial technology (fintech). Finally, he mentioned about the permissibility of cryptocurrency as a medium of exchange even if it does not become the legal currency of a country.

Disasters occurring in recent years across various parts of the world have affected the economy and social life of the global community. Although disaster economics has received prominent attention from scholars, studies adopting the maqāṣid shari‘āh approach remain limited. Therefore, this study aims to analyze the relationship between disasters and the economic system contained in Surah Yusuf based on the maqāṣid methodology and framework. The data were collected via document analysis and in-depth interviews with three experts from different disciplines to assess the reliability of the findings based on Cohen’s Kappa test. The data analysis was based on the maqāṣid methodology involving four stages: identification of verses concerning disasters and economic system, a reflection of the verses using themaqāṣid framework, critical literature studies, and formation of principles about disasters in the Islamic economic system. The findings show that the relationship between disasters to the Islamic economic system can be understood based on maqāṣid shari‘āh. In this regard, disasters that are detrimental to the community's economy from a positive economics perspective have provided many lessons to improve the economic agents’ behavior from a normative economics view based on the maqāṣid framework. The findings further depict that, the majority of past studies on disaster economics were conducted using a positive-materialist approach. Therefore, this study offers a new perspective on the relationship between disasters and the economic system by understanding the material and non-material reality based on the guidance of revelation.

Investments which are considered beneficial for the economy have caused controversy in the Indonesian society when the government enacted the Peraturan Presiden Nomor 10 Tahun 2021, which contains an article on alcohol-related investments. This study analysed the relationship between government policies and public figure responses relating to alcohol-related investments in Indonesia based on the Maqasid Shariah approach. This study used content analysis methodology and data were obtained by analysing documents, online media information and check lists. Two experts in Islamic Economics were involved and Cohen’s Kappa test was used to measure inter-rater reliability for qualitative (categorical) items, which yielded a score of 1 for each expert. Study data analysis was carried out descriptively and thematically. Findings show that policies to encourage investments considered beneficial for the economy have in fact, harmed the Indonesian society in general because the policies are contrary to the principles of Maqasid Shariah. The Muslim society believes that alcohol investments are detrimental to the country. The implications appear in the form of policies contradicting the maslahah (public interest) of the society, public rejection of investment policies, and rescinding of the government’s investment policies. Therefore, this study recommends that governments, in this case Indonesian government, should consider the Maqasid Shariah principles when formulating policies, especially those concerning the wider community, in the future.

The exercise of the right to register marriage and divorce frequently has to deal with the complexity of the administrative procedure. Consequently, many marriages and divorces are not registered in state institutions which lead to the next difficulty of registering new marriages for those who unregistered their divorce previously. However, a different fact happens in Lengayang, where local and state authorities collaborated to tackle administrative constraints. This paper sheds light on the shortcut taken by the Lengayang people who falsified the death of their spouses to legally register their new marriages. Data was collected through interviews and document analysis. It is then analyzed qualitatively. This article reveals that the falsification of death was utilized by Lengayang people to wittingly subdue the legal administration. This practice was backed up by the local authorities, such as ninik mamak as a customary institution, wali jorong or wali nagari as the head of the villages. The economy (the high cost), the geography (the distance of the religious court from people's domiciles), and the deadlock of social relationships between spouses foster this falsification. [Pelaksanaan pendaftaran perkawinan dan perceraian seringkali harus berhadapan dengan kompleksitas administrasi. Akibatnya, banyak perkawinan dan perceraian yang tidak dicatatkan di lembaga negara yang mengakibatkan sulitnya pencatatan perkawinan baru bagi mereka yang tidak mendaftarkan perceraiannya sebelumnya. Namun tidak bagi masyarakat Lengayang, di mana otoritas adat (lokal) dan otoritas negara bekerja sama untuk mengatasi kendala administratif tersebut. Tulisan ini menyoroti tindakan administrasi yang dilakukan oleh masyarakat Lengayang yang memalsukan kematian mantan pasangannya untuk mendaftarkan pernikahan barunya secara resmi. Pengumpulan data dilakukan melalui wawancara dan analisis dokumen. Data kemudian dianalisis secara kualitatif. Artikel ini mengungkapkan bahwa pemalsuan kematian dimanfaatkan oleh sebagian masyarakat di Lengayang untuk (secara sadar) menerobos hambatan administrasi hukum perkawinan. Praktik ini didukung oleh penguasa setempat, seperti ninik mamak sebagai kepala suku dan wali jorong atau wali nagari sebagai kepala desa. Mahalnya biaya, jauhnya jarak geografis ke Pengadilan Agama, dan mandeknya relasi (komunikasi) antara suami istri mendorong praktik pemalsuan kematian ini.

Malaysia is far advanced in introducing the Muslim friendly hotel segment as an Islamic tourism product. Malaysian hoteliers refer to three standards when offering Muslim friendly hotel services, which are namely the MS 2610: 2015 Muslim Friendly Hospitality Services Requirements, Crescent Rating Standard and Salam Standard. Moreover, CrescentRating Standard and Salam Standard have become standards for assessing Muslim friendly hotels at the international level. This study evaluated these standards in terms of their adherence to the Maqasid Syariah principle. Criteria for fulfilling these standards were presented and analyzed according to the five kulliyyat found in the Maqasid Syariah, such as protection of religion, life, intelect, lineage and wealth. Findings show that these standards strongly emphasize criteria related to safeguarding religion, such as performing prayers and fasting; safeguarding lives, such as consuming halal food; safeguarding the mind, such as abstaining from consuming alcohol beverages as well as safeguarding familial lineage, such as separating individuals according to their gender in swimming pools and spas. However, safeguarding lives, from the self-security aspect, and safeguarding property were not part of the criteria that determines the standards even though both these criteria are the fundamental needs of hotel guests. The failure to include these criteria has made these standards lose their holistic nature as well as become incapable of becoming evaluating standards that are completely detached from contemporary conventional standards.

Penggunaan vaksin pada masa kini telah menjadi popular bagi membendung penyakit yang mempunyai risiko kematian. Kerajaan Malaysia telah melaksanakan program imunisasi kebangsaan yang mewajibkan kanak-kanak mengambil 12 jenis vaksin sejak dari dilahirkan. Selain itu, kerajaan juga menggalakkan golongan dewasa untuk mengambil vaksin-vaksin tertentu bagi mengawal penyakit yang berbahaya. Namun begitu, terdapat vaksin-vaksin tertentu yang dihasilkan menggunakan bahan yang mengandungi najis seperti embrio daripada telur dan sel-sel mamalia. Penghasilan vaksin menggunakan bahan-bahan tersebut adalah kerana tiada bahan lain sebagai alternatif. Isu ini telah menjadi kemusykilan kepada umat Islam untuk menghasilkan vaksin kerana ia mengandungi unsur najis. Tujuan kajian ini dilakukan bagi menentukan pandangan syarak berkaitan isu ini. Kajian ini akan menganalisis secara deduktif prinsip-prinsip dan kaedah-kaedah syarak yang berkaitan dengan penggunaan najis bagi merawat penyakit. Kajian seterusnya merumuskan kedudukan penghasilan vaksin berasaskan bahan-bahan najis menurut perspektif maqasid syariah. Kajian ini merumuskan bahawa penghasilan vaksin yang mengandungi unsur najis pada masa kini adalah menepati prinsip maqasid syariah dan ia adalah tertakluk kepada syarat yang khusus. Composition of Vaccine Production from Elements of Excrement in the Perspective of Maqasid of Shariah The use of vaccines has become increasingly popular in preventing the causes of death. The Malaysian government has implemented a national immunization program that requires children to receive 12 types of vaccines since birth. Besides, the government also encourages adults to take certain vaccines to control harmful diseases. However, certain vaccines that produced indicate substances such as embryos from eggs and mammalian cells, the production of vaccines using these substances is because there is no other alternative. Due to this matter, this big issue has caused concern for Muslims to produce vaccines because of the excrement substances in the vaccine. This study deductively analyzes the principles and principles of Syariah related to the use of excrement for treating diseases. Therefore, this study summarizes the status of the vaccine based on excrement substances of the perspective of maqasid syariah. This study concludes that the production of vaccines containing excrement elements today follows the principles of maqasid syariah and specific conditions.