This paper aims to review the application of bay’ al-tawwaruq contract in offering Islamic banking products and services. The review evaluates to what extent bay’ al-tawarruq contract able to fulfil the maqasid (objectives) of Shariah (Islamic law). Two RHB Islamic bank's products (personal financing and deposit), which adopted bay’ al-tawarruq contract were critically studied. The product structures were analysed and compared with the bay' al-inah based product structure. The adoption of bay’ al-tawarruq contract in creating Islamic personal financing and deposit products comply with Shariah principle. The product structure and the operational process did not trigger any Shariah issue. However, in terms of fulfilling the maqasid of Shariah, the paper find out that the application of bay’ al-tawarruq is not significantly different from bay’ al-inah based products. Thus, despite the shift from bay’ al-inah to bay’ al-tawwaruq implemented by most of the Malaysian Islamic banks, criticism regarding how 'Islamic' is Islamic banking remains to be debated. Islamic banking products studied in this paper were limited to RHB Islamic bank of Malaysia only. Hence, the paper is not intended to represent the local Islamic banking industry as a whole. The paper offers Shariah assessment on Islamic banking products that adopt bay’ al-tawarruq contract as their underlying principle. It also provides a valuable addition to the discussion of maqasid (objectives) of Shariah in the Islamic finance industry.

The purpose of this study is to explain the justification behind the current Shariah screening methodology assessments used by KLSI, which differs from other major Shariah screening methodology around the world. Besides, this study is also attempts to investigate on the intention to entitle Shariah-compliant status by Public Listed Companies (PLCs) in Malaysia. This study employed a series of interviews with five individuals who are involves with KLSI Shariah screening methodology as data collection procedure. Thus, this study found a number of justifications on the reasons behind the current Shariah screening methodology assessments used by KLSI. This includes reasons on the adoption of additional 20% tolerable percentage, additional criteria on corporate image and maslaha (public benefits) and also views on the leniency of current KLSI Shariah screening methodology assessments. Besides, this study also identified several measures to identify the intention to entitle Shariah-compliant status by PLCs. This includes voluntary application, effort of de-listed PLCs to be listed as Shariah-compliant for the following year, impact of Shariah-compliant status especially on the share prices and potential investors, good corporate image on maintaining Shariah-compliant status and the core value of the business. Then, this study also provide several recommendations to be considered for future improvement especially on Shariah screening methodology assessment.

The 19th century witnessed noticeable events that shaped the geopolitical and economic spheres in both Europe and Ottoman Empire. Internationally, the industrial revolution, the economic crisis, and the Crimean War were some of those. By 1870, the OE declared its bankruptcy and this decision went viral into the international market, which in fact led to tighten the conditions by the European powers to obtain foreign capital. This study aims to provide a new insight on the external debt determinants using the economic data 1881 to 1913. Applying ARDL as an econometric approach to determine the interrelationship, the findings of the study reveal that the economic growth is negatively associated with the external debts. Also, the study found that government expenditure is having a positive relationship with the accumulation of external debts.

Penularan wabak Covid-19 telah memberi impak kepada corak kehidupan masyarakat dunia secara keseluruhannya. Kemuncaknya pada sekitar penghujung tahun 2020 ini apabila hampir 4 billion manusia atau separuh dari penduduk dunia menghadapi ‘lockdown’ atau kawalan pergerakan di rumah atau di pusat kuarantin. Hal ini telah memberi kesan secara keseluruhan kepada pergerakan antarabangsa masyarakat dunia atas apa juga tujuan sama ada untuk pelancongan, perniagaan mahupun pendidikan. Meskipun semua negara akan menarik semula arahan kawalan pergerakan ini apabila keadaan pulih, namun, norma kehidupan masyarakat dunia tidak akan kembali seperti sedia ada untuk tempoh yang lama. Impak negatif Covid-19 ini tidak terkecuali di peringkat pengajian tinggi termasuklah pelajar antarabangsa yang terpaksa menghadapi PdP secara online sepenuhnya. Kesukaran yang dihadapi golongan pelajar ini mungkin tidak diberi perhatian khusus memandangkan mereka merupakan minoriti di universiti. Justeru, kajian ini bertujuan mendapatkan pandangan pelajar siswazah antarabangsa terhadap kesediaan dan pengalaman mereka dalam mengharungi cabaran PdP ketika pandemik. Dapatan dari data kuantitatif ini dijadikan asas untuk mencadangkan dasar pengurusan pelajar siswazah antarabangsa pasca pandemik. Kajian ini mendapat maklumat yang diperlukan melalui kaedah soal selidik yang diedarkan kepada 130 pelajar siswazah antarabangsa semasa yang sedang mengikuti pengajian sarjana dan doktor falsafah di Universiti Sains Islam Malaysia (USIM). Hasil kajian menunjukkan bahawa walaupun sebahagian besar pelajar antarabangsa siswazah di USIM tidak menghadapi masalah besar dalam mengikuti PdP online ketika pandemik Covid-19 ini. Namun, minoriti pelajar juga perlu diberi perhatian agar tiada pelajar tercicir dari mengikuti pengajian. Kajian juga menunjukkan aspek kebajikan dan kebolehcapaian fasiliti menjadi isu utama yang perlu ditangani pihak universiti.

The spread of the Covid-19 pandemic has changed the landscape of varied communities around the world and disrupting their daily activities and impacting in various areas of services. In this case, the Higher Education Institutions (HEIs) is also affected especially in the aspects of promotion, management and recruitment of international students. Therefore, this study will examine the views of prospective international postgraduate students at USIM towards their study journey. In addition, this study will identify suggestions for improvements to increase the promotion towards international postgraduate students’ admission during the Covid-19 outbreak. This study also suggests policies that need to be considered by universities to improve the effectiveness of post-Covid-19 promotion and management. A total of 122 prospective students completed a set of questionnaires distributed online. The results of the study found that they were satisfied with the procedure of admission process to USIM. They also suggested that USIM should update its online marketing promotion strategy more effectively. Other than that, the difficulties that they faced during the pandemic were analyzed and used as a basis of a guideline to formulate policy proposals for the management which regards to improve the promotional activities and management of international postgraduate students to attract more students in the future.

The Shariah financial screening indices is to exclude companies with unacceptable levels of conventional debt, liquidity, interest-based investment and/or impure income. Ideally, companies must not borrow on the basis of interest rate, nor invest in debt-bearing instruments, as well as not generating income through any other Shariah-impermissible activities. However, such restrictions would screen out the vast majority - if not all - of the stocks that are available on the market, even those listed in Islamic countries. Based on this condition, Shariah scholars tried to come out with a set of Shariah indices to be tested on existing companies in order to classify them as Shariah-compliant companies. Thus, the aim of this paper is to explore and critically analyse comparison of Shariah screening methodology amongst major Shariah indices in the world. By applying the reviewing for all related literature and contents of Shariah screening’s laws and regulations. It can be stated that several group of Shariah indices can be categorized. Firstly, under qualitative measures (business activities), there are two groups which are: (i) financial activities orientation; and (ii) indic with non-financial activities orientation. Meanwhile, under quantitative measures (financial ratios), another several groups can be categorized based on different adoption in the nominator, denominator and tolerate percentage used. It is hoped that this work would inspire more research on Shariah screening using different research methods and compare between the indices according to segments this research argued. Besides, the policy makers should give more attention to ensure the Shariah screening practices and the enhancement Shariah screening standardizing among the major Shariah indices. Last but not least, investors and stakeholders whom concern of Shariah screening could also benefited of the findings of this study by having better understanding of Shariah screening practices and compare between existed indices.