Fluorescent Nanoparticle-Based Indirect Immunofluorescence Microscopy for Detection of Mycobacterium tuberculosis

A method of fluorescent nanoparticle-based indirect immunofluorescence microscopy (FNP-IIFM) was developed for the rapid detection of Mycobacterium tuberculosis. An anti-Mycobacterium tuberculosis antibody was used as primary antibody to recognize Mycobacterium tuberculosis, and then an antibody binding protein (Protein A) labeled with Tris(2,2-bipyridyl)dichlororuthenium(II) hexahydrate (RuBpy)-doped silica nanoparticles was used to generate fluorescent signal for microscopic examination. Prior to the detection, Protein A was immobilized on RuBpy-doped silica nanoparticles with a coverage of ∼5.1×102 molecules/nanoparticle. With this method, Mycobacterium tuberculosis in bacterial mixture as well as in spiked sputum was detected. The use of the fluorescent nanoparticles reveals amplified signal intensity and higher photostability than the direct use of conventional fluorescent dye as label. Our preliminary studies have demonstrated the potential application of the FNP-IIFM method for rapid detection of Mycobacterium tuberculosis in clinical samples

Corporate governance and stakeholders'financial interests in institutions offering Islamic financial services

This paper focuses on the corporate governance arrangements of institutions offering Islamic financial services (IIFS) aimed at protecting stakeholders'financial interests. Many IIFS corporate governance issues are common with those of their conventional counterparts. Others are distinctive. In particular they offer unrestricted investment accounts that share risks with shareholders but without a voting right. This paper first reviews internal and external arrangements put in place by IIFS to protect stakeholders'financial interests. It discusses shortcomings notably in terms of potential conflict of interest between shareholders and holders of unrestricted investment accounts. It then suggests a corporate governance framework that combines internal and external arrangements to provide safeguards to unrestricted investment account holders without overburdening IIFS'financial performance. The paper uses a review of 13 IIFS and regulatory information from countries where IIFS have developed the most.Banks&Banking Reform,Financial Intermediation,Corporate Law,Non Bank Financial Institutions,Investment and Investment Climate

Smart Sukuk Structure from Sharia Perspective and Financing Benefits: Proposed Application of Smart Sukuk through Blockchain Technology in Islamic Banks within Turkey

Smart Sukuk structure is the new generation of Sukuk issuances structures. It uses Blockchain technology to allow more investors in both retail and corporate sectors to participate in Sukuk issuances. Through this technology, all financial institutions can issue their Sukuk. All types of documents and information related to the issuance of Sukuk are kept with the issuer's chains and the chains of the Central Registration Institution. Limited research was conducted on the transactions of smart Sukuk structures, such as Sukuk issuance model, traded Sukuk transactions and committed transactions market, from the Sharia compliance perspective and its financing benefits. This paper presents an in-depth study of the AAOIFI Standards, the decisions of Islamic Jurisprudence Academies and Sharia Boards, that related the Sukuk structures, applied in the Islamic bank of the paper's study society and the transactions of smart contracts from Sharia compliance perspective. On the other hand, this paper presents how to apply proposed smart Sukuk structures models that use Blockchain technology and smart contracts, within the largest Islamic bank in Turkey, in order to find out its financing benefits. The research findings indicate that from the Sharia perspective there are some issues in some applicable Sukuk models, such as the issue of capital guarantees. The use of Blockchain technology in smart Sukuk structures reflects several benefits on the financing markets, as it gives more capacity to access to more investors and markets, faster processing capability, transparency, invariance, and low transaction cost

Rural Management Education in India: A Retrospect

The paper reviews the state of rural management education in India. Using the setting up of the Institute of Rural Management Anand [IRMA] as a pivot, the paper examines the difficulties in establishing specialized management schools, the design of the curriculum and the management of the expectations of both the students who come in and the recruiters. It then identifies the problems in running rural management programmes particularly the dilemma between explicit value orientation towards the betterment of the poor and the value neutral optimization approach of conventional management education. The paper then examines the paradigm shift that has happened in the marketplace for rural managers, and concludes with some further questions on how the future of rural management education can be addressed.

ISU DALAM PRODUK KEUANGAN SYARIAH : SUKUK

: Sukuk is a syariah effect in the form of certificates or proof of ownership of equal value and represents an undivided or indivisible portion of the ownership of certain tangible assets, the value of benefits, and services for a particular project asset or activity. Types of sukuk many kinds in accordance with the contract used. However, in the financial services authority report there are only two sukuk namely mudharabah and ijara.The development of sukuk globally has increased every year. With the rapid development of sukuk is clearly a good opportunity for economic progress, especially Indonesia and the most important challenge is the role of standard regulatory bodies in particular will be critical in facing the problem of sukuk in the secondary market and primary market through the harmonization of practices and guidelines and documentation standards for the structure of a particular sukuk

The Effect of Liquidity M3 and Exchange Rate on Sukuk Market Size in Malaysia in Short-Term and Long-Term

The increase in the size of the sukuk market has become large with time and takes its place among the important topics that need to be studied and developed. This study focuses on the impact of some financial factors on the size of the sukuk market in Malaysia, as it is a leader in the Islamic financial industry, especially the sukuk sector. This study attempts to reveal the relationship between the factors of exchange rate and liquidity M3 as independent variables, and the size of the sukuk market as a dependent variable. This study uses the model of Autoregressive Distributed Lag (ARDL) as well as the test of cointegration to know the relationship between the variables of the study in both short-term and long-term. By examining monthly time series data starting from 04/2011 till 12/2020. The findings appear that the variables of the study have a cointegration relationship in the long run. In the short run, the exchange rate affects the size of the sukuk market significantly negatively, while liquidity M3 influences the sukuk market size positively insignificant. In the long run, the exchange rate has a positive significant effect on the sukuk market size, while the impact of liquidity M3 on the market size of Sukuk is non-significant

Retail Green Sukuk in Indonesia: Toward A Maqashid Approach

Recent global trends include an increase in demand for sustainable development goals (SDGs) and green sukuk programs. The initiative has gained prominence due to the severe effects of climate change, global warming, and other environmental issues. With its green bond and green sukuk framework, Indonesia has endeavored to mitigate this effect. In response, the Indonesian government has issued Sukuk Tabungan (ST), which is designed to finance green projects. This article will examine the structure and performance of the Sukuk al-Wakalah contract, as well as the Maqashid method used to determine the mashlahah and priority level of Sukuk Tabungan, using the library research method and descriptive analysis. The study's findings indicate that Sukuk Tabungan could contribute to the achievement of the Sustainable Development Goals (SDGs) because it is designed in accordance with maqashid, which avoids Sharia-compliant practices in order to perform mashlahah. Even though it has a lower coupon rate and is of a smaller size than Sukuk Ritel, it has a high likelihood of being issued because its proceeds will be used exclusively to finance green projects in order to accelerate the Sustainable Development Goals. In addition, the objective of sukuk al Wakalah issuance appears to fall within the imperative level or dharuriyat of the Maqashid framework due to its five targeted projects, in accordance with the Islamic legal maxims "harm is to be eliminated" and "avoidance of harm takes precedence over the attainment of benefit," which should be the primary reason for the issuance of this Sukuk.========================================================================================================================================ABSTRAK – Sukuk Hijau Ritel di Indonesia: Sebuah Tinjauan Maqashid. Kebutuhan akan keberlangsungan tujuan pembangunan berkelanjutan (SDGs) dan sukuk hijau kian menjadi tren dunia belakangan ini. Inisiasi tersebut muncul ke permukaan sebagai respon terhadap dampak buruk perubahan iklim, pemanasan global dan isu lingkungan lainnya. Indonesia dengan kerangka program obligasi dan sukuk hijau (green bond dan green sukuk) mencoba mengatasi dampak buruk akibat isu tersebut. Sebagai tindak lanjut, Pemerintah Indonesia meluncurkan green sukuk, atau Sukuk Tabungan (ST) yang ditujukan untuk membiayai proyek hijau (green project). Dengan menggunakan studi literatur kepustakaan sebagai metode secara deskriptif analisis, artikel ini berupaya mendiskusikan lebih jauh struktur dan performa dari sukuk al wakalah, serta pendekatan Maqashid yang digunakan untuk menentukan kemaslahatan dan tingkat prioritas dari pembiayaan Sukuk Tabungan. Temuan penelitian menyimpulkan bahwa, Sukuk Tabungan harus menghindari dari praktik yang tidak sesuai dengan prinsip Syariah. Meskipun memiliki kupon yang lebih kecil dan jumlah yang lebih sedikit dari Sukuk Ritel, Sukuk Tabungan punya potensi yang besar untuk dikembangkan karena dana sukuk tersebut ditujukan secara khusus untuk membiayai proyek hijau demi mempercepat SDGs. Tujuan peluncuran sukuk al wakalah dapat disimpulkan terdapat pada level yang sangat penting atau dharuriyat, berdasarkan kerangka Maqashid, dikarenakan tujuan pembiayaannya pada lima target area, sejalan dengan kaedah fiqh yaitu “kemudaratan harus dihilangkan” dan “mencegah kemudaratan lebih utama ketimbang mencapai kemaslahatan”