SHAYA'A OTHMAN MAPPiCXS MANAGEMENT & RESEARCH

THE BEST FOR MANKIND

http://islam2mankind.blogspot.com/

ISLAMIC FINANCE AND ECONOMICS

 

To find more and get a complete presentation please click below:

http://islamicstrategymanagement.blogspot.com/

If you could immerse yourself in an online sport and get a real workout, what activity would you want it to be?

Application of Maqasid Al-Shariah [Spirit of Shariah] in Islamic Finance and Economics. Click below to find more:

http://islamicstrategymanagement.blogspot.com/

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OVERVIEW OF STATISTICAL ANALYSIS FOR MANAGERS AND RESEARCHER & BUSINESS STUDENTS

Details description and Lectures in the point of Power Point is shown at the following website:

http://mappixcs.blogspot.com/

Free to read and free to download. I could not think of the best gifts to all my friends, but sharing of knowledge

SHAYA'A OTHMAN

SHAYA'A OTHMAN RESEARCH METHODOLOGY

It is a must for students who are preparing for their thesis at Master or Doctorate levels. Also 
useful for professionals. Click the following to get more info:

RESEARCH METHODOLOGY FOR STUDENTS & PROFESSIONALS

 

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RESEARCH METHODOLOGY FOR STUDENTS & PROFESSIONALS

SHAYA'A OTHMAN MODEL OF ISLAMIC MANAGEMENT : DEFINITION

 

 

 

If you wish to read detail of the above model please click the below:

ISLAMIC MANAGEMENT

Feel free to download the detail description of SHAYA'A OTHMAN MODEL OF ISLAMIC MANAGEMENT ib pdf fail by clicking tbelow:

Download DEFINITION OF ISLAMIC MANAGEMENT

 

The Need for Maqasid al- Syariah in the Management Strategy of Current Islamic Banks

The Need for Maqasid al- Syariah in the Management Strategy of Current Islamic Banks

By

SHAYA’A OTHMAN

Academic Fellow & Executive Director, INSANIAH Global Centre of Excellence

INSANIAH University College, Kedah Malaysia

 

ABSTRACT

 

The management of Islamic financial institutions such as Islamic banks and Islamic insurance companies should look beyond profit. Although profit is very important for the institution to be able to exist, it is not the main objective of the institution. Profit is just like oxygen in our bodies which is essential for us to stay alive, but which is not the main objective.

This paper attempts to examine the management strategy of current Islamic institutions, particularly Islamic banks, 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 Islamic banks working towards achieving these ultimate objectives or maqasid al-Syariah.

This paper also attempts to answer the question of whether the current Islamic banks owned by non-Muslims will be able to incorporate maqasid a-Syariah into their management strategies.

What are the objectives of the many conventional banks which are rushing to convert themselves into “Islamic Banks” or open windows of “Islamic Banks”? Are they attracted to the ultimate objectives [maqasid al-Syariah] as advocated by Islam? Or are they attracted to make profits from the abundant wealth of Muslims?

Attempts are also made in this paper to examine the possibility of Islamic banks owned by non-Muslims being sustainable if, and only if; they incorporate maqasid al-Syariah into their strategy of existence. Also, is there is any rationale whatsoever for countries predominantly populated by non–Muslims and governed by non-Muslims becoming Islamic Financial Centres?  London, Singapore and Hong Kong are all planning to establish such centres, and the question arises as to whether maqasid al-Syariah is being incorporated into their blueprints for creating these centres?

This paper tries to put across the view that the current practice of Islamic banks needs to incorporate maqasid al-Syariah into their management strategy. Otherwise, the use of the word ‘Islamic’ should be dropped. Furthermore, it proposed that the term ‘Islamic Bank’ should be reviewed, and should only be used to refer to an ‘Islamic Bank’ owned and managed by Muslims.  This is because Muslims are the only community [ummah] recognised by Allah which can or should uphold maqasid al-Syariah.  Islamic banks owned by non-Muslims may be called ‘Interest Free Banks’.

 

An Overview of Maqasid al-Syariah

 

MAPPiCXS Presentation of MAQASID AL-SYARIAH

 

 

1 Imam al Syatibi's Opinions

1.1 ALLAH'S REQUIREMENTS

1.1.1 Category 1

1.Al-daruriyyah

= Necessary Factors

1. Protection of Human Life

2. Protection of Religion [Islam]

3. Protection of Protection of Human Generation

4. Protection of Human Intellect

5. Protection of Wealth and Resources

2.  Al- hajiyyah

= Requiring Factors to eliminate difficulty in life

1. Ibadat

2. Adat [Common Practices]

3. Muamalat [Business]

4. Jenayat [Criminal Laws]

3. Al- tahsinniiyyah

= Complementing Factors

1. Mahasin al-adat [Good Culture]

2. Al-ahwal al- mudannisat [Disgraceful Elements]

1.1.2 Category 2

1. Compulsory to understand Arabic

1.1.3 Category 3

1. Responsibility beyond Human Capability

2. Responsibility within Human capability

1.1.4 Category 4

1. Implementation for everyone without exception

1.2 MUKALLAF'S [HUMANS] REQUIREMENTS

1.2.1 1. Feeling that the practices are in line with Allah's requirements

1.2.2 2. Determining objectives which are probably in line with the rules of Allah

1.2.3 3. Implementing any directives for the obedient to the rules of Allah

 

2 Imam Ibn 'Asyur's Opinions

2.1 General Objectives

2.1.1 Getting Benefit

2.1.2 Rejecting Harmful & Destruction

2.2 Special Objectives

2.2.1 munakahat [nikah]

 

Note:

1. I will presenting this paper at the LIFE [Langkawi Islamnic Finance & Ecenomics] International Conference to be held on 13 - 15  Decemeber at Langkawi:

http://conferences.insaniah.edu.my/main/

2. If you wish to put your ideas please give your kind comments or e-mail to me :

shayaaothman@yahoo.com

3. If you wish to have a copy of full paper please e-Mail to me:

 shayaaothman@yahoo.com

MBA Management Lecture 10: Leadership

DEFINITION:

LEADER is "Someone who can influence others and  has managerial authority"

LEADERSHIP  is "The process of inspiring others to work hard to accomplish important tasks "

TODAY, there are too many discussions on " Transactional Leadership " and "Transformational Leadership"

What is "Transactional Leadership" ?

What is "Transformational Leadership"?

You can find the answers in the following MAPPiCXS

 

The currents issues regarding leadership development in the 21st Century may be capsulized in the following  MAPPiCXS :

MBA Management Lecture 9 : Human Resource Management

Human Resource Management [HRM]

It is easy to manage machines, but it is much difficult to manage people [human] in an organization. The  failure of an organization is much contributed to the failure of managing human resource.

Human or people in an organization is considered to be an asset to an organization. It is a capital -HUMAN CAPITAL {HC].

HC may be best described as "The economic value of people with job relevant activities, knowledge, ideas, energies and commitments"

I like to define Human Resource Management [HRM] as follows:

" The process of attracting, developing, maintaining quality workforces, and mobilizing these human capital [workforce], to implement organizational strategies in achieving organizational objectives, within the labor laws of the country"

Perhaps the following MAPPiCXS will give a better overview of Human Resource Management you should know as business students.

Please take note diversity [culture or religious diversity] in a workforce is an advantage to the organization rather than disadvantage. We have discussed this issue in earlier chapter.

The process of attracting and developing quality-workforce are much easier than maintaining quality-workforce. It has been observed that many companies pay little attention to develop programs of maintaining its workforce. They are having the attitude that " If one leaves the company, hundreds will come" . Remember that your workforce [Human Capital] is an asset to the organization. Hundred that will be coming is not the same as the one [ with the economic value, job relevant experiences, knowledge, ideas, energies and commitments ] who leaves the company.

The following MAPPiCXS shows what an organization should do to maintain quality workforce

MBA Management Lecture 8 : Communication [Note on e-Governmnet]

eGOVERNMENT

What is e-Government?

Below is a definition given by e-ASEAN Task force.