A Critical Evaluation of the Compatibility Between Traditional and Contemporary Applications of Murabahah Transactions

- The present study explores the extent of conceptual resemblance between traditional and contemporary murabahah contracts. In order to assess the discrepancies, qualitative and quantitative content analyses are applied as research methodology. In particular, discrepancies of the conceptual basis of the two contracts are evaluated by content analysis through graphical presentation. The results of this study affirm that the critique raised against contemporary contracts is indeed justified. The comparative analysis of the conceptual differences between traditional and contemporary murabahah contracts leads to the conclusion that the contemporary murabahah contract is in inverse relation to the traditional murabahah contract

The Substitution Dilemma in Islamic Finance: Contemporary Muslim Legal Thought on the Use of Paper Money

- Gold and silver became the most widely accepted and circulated form of money in the medieval world. Even though paper money was introduced, state banks continued to store their equivalent in gold. In 1971 the US government abolished the Bretton Woods system and exchanged with the floating or fiat economy system which soon became the standard currency system worldwide. Many economies felt compelled to adopt the new US currency system because of the strength of the all-dominating American dollar and criticism was sparse. Disappointingly, no Muslim government produced legal rulings (fatwas) which rejected the legality of the fiat system and demanded the return to gold and silver backed currency. The single fatwa issued in Saudi Arabia in 1985 concluded that paper currency had completely replaced gold and silver and that all previous Islamic legal rulings issued on gold and silver were now applicable to paper currency. This paper study critically and evaluates the consequences of the Muslim intellectuals and Fiqh Academies‟ approval of substitution of gold and silver by banknotes on the Muslims and their nations

Rapid situation assessments of alcohol and substance use among commercial vehicle drivers in Nigeria

Objectives: To describe the current situation with respect to substance use and related harms among commercial vehicle drivers, and to identify a range of interventions that could be feasibly implemented to minimise harms related to substance use.Study design: Observational and group interviews.Setting: Four different motor parks in Ibadan, Nigeria.Subjects: Data were obtained from a sample of commercial vehicle drivers, community and members of the law enforcement agencies.Results: Widespread use of psychoactive substances was reported. New trend of local alcohol beverage generally called ‘sepe’ tended to have replaced older ones such as palm wine. All substances of abuse were freely available and openly displayed at motor parks except for cocaine and narcotics. There was poor law provision and enforcement of laws prohibiting sale and use around motor parks or while driving.Conclusions: This study shows the feasibility and value of conducting rapid assessments among commercial vehicle drivers in Nigeria. One outcome of this study is the development of a guide on rapid assessment of alcohol and other substance use assessment and a measure of brief intervention among them. Presentation of these findings should contribute to increased awareness and improved response from the government

Inter-Market and Seasonal Variation in Price: An Appraisal of Maize Marketing in Kwara State.

This study investigated inter-market and seasonal variation in prices of maize in Kwara State. Secondary time series data on average monthly retail price of maize in urban and rural markets between 1998 and 2003 were used for the study. Primary data on the average storage cost of maize and the average selling price of maize for 2004 were also used for the study. The study described the seasonal pattern of maize, examined its seasonal price rise and analyzed the inter-market variation in prices of maize in the study area. The study revealed that the seasonal price rise exceeds storage cost but the difference is minimal. The effect of kilometer separation between market- pairs on their Price difference is significant (p < 0.05). Thus, if storage cost should be reduced the inter-market price variation will be reduced while transportation cost should also be reduced to facilitate the movement of food commodities between markets. Keywords: Inter-market, Price difference, Seasonal, Variation, and Maize. Agrosearch Vol. 7 (1&2) 2005: pp. 51-6