Sharia boards, managerial strategies and governance practices in Islamic banks: Critical insights using Goffman’s lens

Purpose – The study applies Erving Goffman’s (1974) “frame analysis” principles to examine how Sharia governance is practiced in Islamic banks and explores the interaction and strategies adopted by bank managers to influence the decisions of Sharia scholars. The study also aims to identify inherent flaws in the Sharia compliance review system. Design/methodology/approach – The study employs the principles of Goffman as a lens to critically analyse a rich dataset obtained through interviews undertaken with 46 key players operating in the governance framework of the Malaysian Islamic banking industry due to its progressive Islamic governance framework. Findings – The study demonstrates that managers of Islamic banks may engage in “passing” and “covering” strategies while interacting within the governance structure. Concurrently, Sharia boards (SBs) implement “protective practices” during their interactions, adding complexity to their responsibilities within the banks. Consequently, SBs cannot merely be viewed as instruments for legitimising banking operations. This raises questions about the “impression management,” “concealment” and “competence” strategies employed by managers and SB members, as suggested by Goffman’s framework. These findings indicate that there is room for further enhancement in the governance practices of Islamic banks. Research limitations/implications – Future research could explore aspects related to the governance of Islamic banks, such as investigating the independence and effectiveness of internal Sharia officers. Examining the strategies employed during their interactions with external Sharia boards and other stakeholders could provide further valuable insights. Practical implications – By highlighting shortcomings in the governance and compliance review process, the findings could serve as a valuable resource for policymakers. The insights derived could inform the development of regulations aimed at reducing opportunistic behaviour and promoting accountability in the Islamic banking sector. Originality/value – This study uniquely employs Goffman’s concepts of “frontstage” and “backstage” strategies to offer insights into the interactions between Islamic bank managers and SBs and the impact of these interactions on Sharia compliance. The study contributes to the understanding of the dynamics between key players in the governance of Islamic banks and the factors influencing their adherence to Sharia principles

Application of AE Techniques in Condition Monitoring and Diagnosis of Rotating Machinery

Condition monitoring (CM) is the process of monitoring a parameter of condition in machinery, such that a significant change is indicative of a developing failure. It is of great practical significance in manufacturing industry since it provides updated information regarding machine status on-line. This allows maintenance to be scheduled in order to avoid accidental outages that cause production loss and may lead to catastrophic machine failure. Rotating machines are recognized as the core and fundamental equipment of most engineering systems such as petrochemical plants, automotive industry, power stations, oil refinery, etc. that necessitate precise and ingenious performance. Bearings represent the most important part in rotating machinery. Major problems in the machines are due to bearing faults. It is therefore necessary to monitor and diagnose the bearing operating condition in order to avoid serious problems in the machinery.  This paper discusses the concept of acoustic emission (AE) monitoring techniques for detection and diagnosis of bearing deterioration and faults.  The acquired AE signals are processed and analyzed using LabVIEW and MATLAB to detect bearing problems at incipient stages

A new Version of High Stability Output 12-Bit Tracking Analog to Digital Converter

    In this paper a 12-bit tracking analog-to-digital converter (ADC) is designed and its performance is verified. It continuously tests the analog input signal and makes correction when necessary. The resulting digital equivalent of the analog input signal is continuously updated. The least significant bit (LSB) of this converter jumps up and down to track the analog input and this causes the final output to be unstable. To overcome the problem of instability in the digital output the 12-bit tracking ADC is modified by introducing the test bit B0. The test bit is designed to have a voltage equals to that of the LSB. It always sets or resets in tracking the analog value. Using this technique the digital output B1 to B12 of the converter is maintained stable. Test and measurements are performed in the converter circuit to demonstrate the practicality of this version.              &nbsp

Scale-free network topology and multifractality in weighted planar stochastic lattice

We propose a weighted planar stochastic lattice (WPSL) formed by the random sequential partition of a plane into contiguous and non-overlapping blocks and find that it evolves following several non-trivial conservation laws, namely $\sum_i^N x_i^{n-1} y_i^{4/n-1}$ is independent of time $\forall \ n$, where $x_i$ and $y_i$ are the length and width of the $i$th block. Its dual on the other hand, obtained by replacing each block with a node at its center and common border between blocks with an edge joining the two vertices, emerges as a network with a power-law degree distribution $P(k)\sim k^{-\gamma}$ where $\gamma=5.66$ revealing scale-free coordination number disorder since $P(k)$ also describes the fraction of blocks having $k$ neighbours. To quantify the size disorder, we show that if the $i$th block is populated with $p_i\sim x_i^3$ then its distribution in the WPSL exhibits multifractality.Comment: 7 pages, 8 figures, To appear in New Journal of Physics (NJP

On the fuzzy nature of constructed algebraic structure

No Abstract

Estimation of return stock rate by using wavelet and kernel smoothers

This article aim to estimate the Return Stock Rate of the private banking sector, with two banks, by adopting a Partial Linear Model based on the Arbitrage Pricing Model (APT) theory, using Wavelet and Kernel Smoothers. The results have proved that the wavelet method is the best. Also, the results of the market portfolio impact and inflation rate have proved an adversely effectiveness on the rate of return, and direct impact of the money supply

Relation Between Oxidant/Antioxidant Status and Postpartum Anestrous Conditions

The aim of the present study was to detect the relation between oxidant/antioxidant status and postpartum anestrous (PPA) conditions in dairy cows.The postpartum period is a very critical time that influenced mainly in cattle reproduction. A little information is obtainable in literature concerning antioxidant defense mechanisms during anestrus.The purpose of the following study is detection of the relation between oxidant/antioxidant status and postpartum anestrous (PPA) condition in dairy cows. Seventy five postpartum anestrous (PPA) and twenty five normal cyclic Holstein Friesian pluriparous dairy cows were selected on the basis of their reproductive history gained from farm records. Depend on the rectal findings and ultrasonography in addition to progesterone profile the studied animals were classified into three groups (each 25 animals) as inactive ovaries group, persistent corpus luteum group and silent heat group. Blood samples from anestrous and normal cyclic animals were gathered at day 0, day 10, day 21. These samples were utilized for detection of MDA, Vitamin C, Nitric Oxide and Total antioxidant capacity. Results of the present study revealed that MDA and Nitric Oxide were be significantly (plt0.05) higher in the groups of PPA than the normal cyclic group. Vitamin C (Ascorbic acid)nbsp levels were seen to be significantly (plt0.05) lower in normal cyclic animals in comparison to inactive ovaries group and persistent C.L group ,while there is no significant difference with the silent heat group . No statistically significant difference was detected in the total antioxidant capacity between the group of silent heat and the normal cyclic group, while the groups of persistent C.L and inactive ovaries were found to have statistically significant difference (plt0.05) with the normal cyclic group. It is concluded that supplementing diets with optimal levels of micronutrients with antioxidant capabilities is a good advice to farmers to avoid post-partum anestrum. Moreover, early approaches to conflict the progression of stress and to promote the antioxidant defense mechanisms of dairy cattle during times of increased metabolic demands appears to be Pertinent

Physiological factors affecting the production of an antimicrobial substance by Streptomyces violatus in batch cultures

Egyptian Journal of Biology Vol.3 2001: 1-1