Awareness of islamic banking products among muslims: The case of Australia

© The Editor(s) (if applicable) and the Author(s) 2016. The concept of interest-free financing was practiced by Arabs prior to the advent of Islam, and was later adopted by Muslims as an acceptable form of trade financing. While the system had been used on a small scale for centuries, its commercial application began in the 1970s.1 Since then Islamic financing has experienced worldwide acceptance, and by early 2003 there were at least 176 Islamic banks around the world, with deposits in excess of $147bn

The Euro Area Crisis Management Framework – Consequences and Institutional Follow-Ups

The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Both are temporary in nature (3 years). In terms of an efficient future crisis management framework one has to ask what follows after the EFSF and the EFSM expire in 3 years time. In this vein, this briefing paper addresses the question of the political and economic medium-to long-term consequences of the recent decisions. Moreover, we assess what needs to be done using this window of opportunity of the coming 3 years. Which institutions need to be formalized, into what format, in order to achieve a coherent whole structure? This briefing paper presents and evaluates alternatives as regards the on-going debate on establishing permanent instruments to support the stability of the euro. Among them are the enhancement of the effectiveness of the Stability and Growth Pact combined with the introduction of a European semester and a macroeconomic surveillance and crisis mechanism, fiscal limits hard-coded into each country's legislation in the form of automatic, binding and unchangeable rules and, as the preferred solution, the European Monetary Fund

Building smart cities, the just way. A critical review of “smart” and “just” initiatives in Bristol, UK

This article investigates the application of the “smart cities” and “urban climate justice” concepts to two urban initiatives based in Bristol, UK. Both ideas are increasingly popular in academic literature. Yet, little is known about their understanding by the practitioners such as policymakers, third sector organisations and citizens. Two case studies, a community-based energy efficiency initiative, and a local authority electric vehicle policy were critically reviewed using discourse analysis. The method helped to reveal the explicit, implied and obscured aims of the examined initiatives. Using discourse analysis, the researchers developed a heuristic which could improve traditional policy analysis approaches. The examination of case studies illustrates how practitioners understand the notions of “urban climate justice” and “smart cities” and whether their conceptualisations differ from those present in the academic literature. Finally, the paper offers methodological suggestions for embedding justice in “smart” initiatives at each stage of policy and project design

QuantCrit: education, policy, ‘Big Data’ and principles for a critical race theory of statistics

Quantitative research enjoys heightened esteem among policy-makers, media and the general public. Whereas qualitative research is frequently dismissed as subjective and impressionistic, statistics are often assumed to be objective and factual. We argue that these distinctions are wholly false; quantitative data is no less socially constructed than any other form of research material. The first part of the paper presents a conceptual critique of the field with empirical examples that expose and challenge hidden assumptions that frequently encode racist perspectives beneath the façade of supposed quantitative objectivity. The second part of the paper draws on the tenets of Critical Race Theory (CRT) to set out some principles to guide the future use and analysis of quantitative data. These ‘QuantCrit’ ideas concern (1) the centrality of racism as a complex and deeply-rooted aspect of society that is not readily amenable to quantification; (2) numbers are not neutral and should be interrogated for their role in promoting deficit analyses that serve White racial interests; (3) categories are neither ‘natural’ nor given and so the units and forms of analysis must be critically evaluated; (4) voice and insight are vital: data cannot ‘speak for itself’ and critical analyses should be informed by the experiential knowledge of marginalized groups; (5) statistical analyses have no inherent value but can play a role in struggles for social justice

Electricity portfolio innovation for energy security: the case of carbon constrained China

China’s energy sector is under pressure to achieve secure and affordable supply and a clear decarbonisation path. We examine the longitudinal trajectory of the Chinese electricity supply security and model the near future supply security based on the 12th 5 year plan. Our deterministic approach combines Shannon-Wiener, Herfindahl-Hirschman and electricity import dependence indices for supply security appraisal. We find that electricity portfolio innovation allows China to provide secure energy supply despite increasing import dependence. It is argued that long-term aggressive deployment of renewable energy will unblock China’s coal-biased technological lock-in and increase supply security in all fronts. However, reduced supply diversity in China during the 1990s will not recover until after 2020s due to the long-term coal lock-in that can threaten to hold China’s back from realising its full potential