The Extent of Information Disclosed in the Practice of Islamic Banking Annual Reports

This research investigates the extent of disclosure in Islamic banking annual reports. The period of study is from year 1997 to 2006, a period after the regulations for financial reporting rapidly developed. This study reviews the issues on disclosure extent and the Shari’ah perspectives related to contracts, governance and disclosure. Information disclosure can be divided into two categories -voluntary and regulated The traditional view on disclosure highlighted that the added value of information can be used to reduce conflicts. Meanwhile, from the perspective of the Shari’ah, the contracting parties need to observe the Shari’ah principles in identifying the information that need to be disclosed. This study examined the disclosure practice of 95 annual reports of full- fledged Islamic banks (IB) and windows (Islamic banking scheme or IBS). Comparative analysis on the practices of IB and IBS indicated that information disclosed in the IB’s and IBS’s annual reports are slightly different especially for voluntary disclosure and in the period before and immediately after the enforcement of disclosure regulations (2000-2003). Furthermore, this study found that: i) bank size, board independence and the number of Shari’ah committee members significantly determine the extent of voluntary disclosure; ii) bank size, liquidity, board committee, board independence and audit committee independence significantly determine the extent of regulated disclosure; iii) size and board independence significantly determine the extent of all type of disclosure; and iv) there is an evident of co-integrated relationship among a few sets of variables in the long run. Overall, the minimum best practices are not satisfactorily met judging from both voluntary disclosure and the level of conformity to regulations. Regulators may find these findings to be useful for Shari’ah governance and monitoring purposes as well as in promoting transparency, ‘market discipline’ and the social functions of this industry to the Muslims

The treatment of small delay case in linear multistep method

This article presents a technique on how to deal with the presence of small delay case in delay differential equations. This case has been classified as one of the difficulties in the numerical solution where it is due to the delay value that is smaller than the current step size and there is no current approximate solution that can be used in the interpolating of delay value. In this technique we will highlight on extrapolation and interpolation approaches depending on the existence of delay value in the grid point. The computational method for determining the sequence of {yn} by using the linear multistep method is investigated with the implementation of variable step size. The numerical experiments were tested on the several problems and results were compared with other approaches from those of known solvers in treating the small delay case

Solving delay differential equations using modified 2-point block method

The performance of a modified 2-point block method for solving delay differential equations (DDE) has been investigated. The proposed method computes the numerical solution at two points simultaneously and produces two new equally spaced solution values within a block. This method is based on a pair of explicit and implicit of Adams formulas which are implemented in PE(CE)s mode. The Newton divided difference interpolation has been used to approximate the delay solutions and the algorithm is implemented in variable step size. Numerical results demonstrate the efficiency of the proposed method when solving delay differential equations

Implementation of variable step size strategy for solving neutral delay differential equation in multistep block method

The numerical solution of neutral delay differential equation (NDDE) with variable step size implementation in multistep block method is addressed in this paper. The strategy of variable step size was actually from the idea in adapting the step size control mechanism in the block method that allows each block to have different step size ratios as it moves in the interval. Special attention is paid in approximating the neutral delay term using the stored value of derivative solution in Newton divided difference interpolation. Numerical results shown that the proposed multistep block method is reliable when compared with the other existing Adams method

Multistep block method for solving vanishing delay differential equations

The multistep block method is applied to solve the particular vanishing delay case in delay differential equations. The proposed method which is based on predictor-corrector scheme are used to determine three approximate solutions concurrently in each step of integration. The new strategy to obtain the solution of the vanishing delay within the three point in each block is investigated with the implementation of variable step size. Numerical results are presented for some problems to demonstrate the efficiency and accuracy of this method

Information Technology Utilization on the Performance of Sharia Bank Employees in Palopo City

This study aims to examine the impact of information technology on the performance of Sharia Bank employees in Palopo City. The world is entering the industrial era known as 4.0 in which human activities rely on information and communication technology. The internet has also become an inseparable part of it. This study used a quantitative method by administering questionnaires to the respondents. The results showed that information technology has a significant impact on the performance of Sharia Bank in Palopo City. percentage of the influence of information technology on the performance of sharia bank employees in Palopo City is 59.1%. The increasing performance of the employees has an impact on the company profits and encourages the investments. Plenty invesment will create a wide employment opportunities for the community and have an impact on economic growth. It will  in turn create prosperity and walfare for a nation

Predictor-corrector scheme in modified block method for solving delay differential equations with constant lag

In this paper, the numerical solution of delay differential equations using a predictor-corrector scheme in modified block method is presented. In this developed algorithm, each coefficient in the predictor and corrector formula are recalculated when the step size changing. The Runge-Kutta Fehlberg step size strategy has been applied in the algorithm in order to achieve better results in terms of accuracy and total steps. Numerical results are given to illustrate the performance of this modified block method for solving delay differential equations with constant lag

Variable step size and order strategy for delay differential equations in PIE(CIE)s mode

This article deals with the strategy of variable step size and variable order implementation that has been formulated for solving first order of delay differential equations. This strategy is adapted in PIE(CIE)s mode which is generally based on predictor-corrector scheme in multistep block method of order 4 to 9 with s is for convergence test. The purpose here is to enhance the efficiency of the developed predictor-corrector algorithm in the capability to vary automatically not only for the step size, but the order of the method employed as well. All order and coefficients are stored in the code in order to avoid an expensive computational work. The delay argument would be evaluated using Newton divided-difference interpolation at which the points involved would be similar to the current order of the method. Illustrative examples are included to demonstrate the validity and applicability of the presented strategy and comparison is made with the existing results

From brothel to zakah

Ali was in dilemma. How would he help his childhood friend, Mastura emancipated from brothel. Was there any way in Islam to free a person in captivity? Ali remembered her story. It was five years ago when Mastura was just 17 years old, she got married to Hasnan, a stranger that she just met for two months. Mastura leaved Alor Setar for Kuala Lumpur to be with her husband. Unfortunately, her husband who was supposed to be her protector in joys and sorrows, sold her to brothel in Lorong Haji Taib. In hesitant, she was forced to become prostitute without any pay. The brothel had very strict security and only provided her with room, foods and clothes. Two years later, she got pregnant and gave birth to a baby girl named Sarah. According to Mastura, she broke out from the brothel with the help of her regular client. Escaped from brothel, Mastura hoped that she could start her life all over again in her hometown, Alor Star. That was when Ali met Mastura, where she begged for help from him.Ali had been working as the manager of Asnaf Development and Zakat Distribution Division in Lembaga Zakat Negeri Kedah (LZNK) for 10 years. He thought of how would zakah be of help to Mastura. Ali brought the matter to his boss, Haji Zakaria Othman, who had asked him to study other states practice

Supply overhang of affordable homes: a survival analysis on housing loans application

This study aims to investigate the issue of supply overhang of affordable homes and financial exclusion in the Malaysian housing market. It seeks to decipher the issue of unaffordability of homeownership from the financing perspective as offered by the financial institutions in Malaysia. By employing survival analysis via Kaplan-Meier survival estimates for the period covering Q1:2009 to Q4:2014, our findings suggest that higher inflation rate and lower house price volatility may reduce the likelihood for home loans exclusion and thus allow banks to allocate higher loan disbursements. Meanwhile, higher interest rate excludes clients from having access to finance where the compounding effects of interest shows increased hazards of exclusion among the home loans clients. Understanding the determinants of financial exclusion is, therefore, a pertinent issue to be addressed for potential house buyers to be aware of in order to increase the probability of access to financial services. To the financial institutions, identifying the determinants of financial inclusion will assist them to design products that are more marketable. For the policymakers, the findings of the study will shed some light on the policy ramifications towards promoting affordable homeownership in achieving sustainable development goals as outlined by the United Nation