THE NATURE OF RIBA IN ISLAM

ABSTRAC

Helical structures from an isotropic homopolymer model

We present Monte Carlo simulation results for square-well homopolymers at a series of bond lengths. Although the model contains only isotropic pairwise interactions, under appropriate conditions this system shows spontaneous chiral symmetry breaking, where the chain exists in either a left- or a right-handed helical structure. We investigate how this behavior depends upon the ratio between bond length and monomer radius.Comment: 10 pages, 3 figures, accepted for publication by Physical Review Letter

Rethinking of patient-centered medicine in Japan

xxviii,136 hlm, 21 c

Islamic Monetary Economics: Insights from the Literature

This chapter reviews critical early literature of Islamic monetary economics. The prohibition of Riba has imposed challenges on Islamic economists to come up with the viable alternatives to achieve Islamic monetary policy goals. Our extensive review of theoretical and empirical literature indicates that equity based profit- and loss-sharing instruments have been proposed for conducting open market operations in an interest-free economy. Theoretically, the central bank can achieve desired goals by controlling money supply and profit-sharing ratios. The findings from empirical literature suggest that money demand tend to be more stable in an interest-free economy. Whether monetary transmission works through Islamic banking channel is controversial, but the literature is growing. These findings are not surprising as majority Muslim countries lack sustainable and equitable economic growth. Moreover, these countries suffer from higher inflation and unemployment with little or no monetary freedom due to fixed exchange rate regime, shallow financial markets and strict capital control

Water Body Temperature Model for Assessing Climate Change Impacts on Thermal Cooling

We develop and test a physically based semi-Lagrangian water body temperature model to apply climatological data and thermal pollution from river-based power plants to historical river flow data in order to better understand climate change impacts on surface water temperature and thermal power plant withdrawal allowances. The model is built for rapid assessment and use in Integrated Assessment Models. We first test the standalone model on a 190km river reach, the Delaware River, where we have detailed flow and temperature data. An R2 of 0.88 is obtained on hourly data for this initial test. Next, we integrate the standalone temperature model into a series of models—rainfall-runoff model, water demand model, water resource management model, and power plant uptake and release model—for the contiguous USA (CONUS), with about 19,000 segments total. With this system in place, we then validate the standalone water temperature model within the system for 16 river stations throughout the CONUS, where we have measured daily temperature data. The model performs reasonably well with a median R2 of 0.88. A variety of climate and emissions scenarios are then applied to the model to test regions of higher vulnerability to river temperature environmental violations, making use of output from two GCMs and six emissions scenarios focusing on projections out to 2050. We find that the two GCMs project significantly different impacts to water temperature, driven largely by the resulting changes in streamflow from the two models. We also find significantly different impacts on the withdrawal allowed by thermal power plants due to environmental regulations. Potential impacts on generation are between +3% and -4% by 2050 for the unconstrained emissions case and +3.5% to -2% for the stringent GHG mitigation policy (where 1% is equivalent to 32 TWh, or about 3 billion USD/year using 2005 electricity prices). We also find that once-through cooling plants are most vulnerable to climate change impacts, with summer impacts ranging from -0.8% to -6% for the unconstrained emissions case and +2.1% to -3.7% for the stringent GHG emissions case

Corporate Social Responsibility and Islamic Financial Institutions (IFIs): Management Perceptions from IFIs in Bahrain

Islamic finance is gaining greater attention in the finance industry, and this paper analyses how Islamic financial institutions (IFIs) are responding to the welfare needs of society. Using interview data with managers and content analysis of the disclosures, this study attempts to understand management perceptions of corporate social responsibility (CSR) in IFIs. A thorough understanding of CSR by managers, as evident in the interviews, has not been translated fully into practice. The partial use of IFIs’ potential role in social welfare would add further challenges in the era of financialisation

Higher ethical objective (Maqasid al-Shari'ah) augmented framework for Islamic banks : assessing the ethical performance and exploring its determinants.

This study utilises higher objectives postulated in Islamic moral economy or the maqasid al-Shari’ah theoretical framework’s novel approach in evaluating the ethical, social, environmental and financial performance of Islamic banks. Maqasid al-Shari’ah is interpreted as achieving social good as a consequence in addition to well-being and, hence, it goes beyond traditional (voluntary) social responsibility. This study also explores the major determinants that affect maqasid performance as expressed through disclosure analysis. By expanding the traditional maqasid al-Shari’ah,, we develop a comprehensive evaluation framework in the form of a maqasid index, which is subjected to a rigorous disclosure analysis. Furthermore, in identifying the main determinants of the maqasid disclosure performance, panel data analysis is used by including several key variables alongside political and socio-economic environment, ownership structures, and corporate and Shari’ah governance-related factors. The sample includes 33 full-fledged Islamic banks from 12 countries for the period of 2008–2016. The findings show that although during the nine-year period the disclosure of maqasid performance of the sampled Islamic banks has improved, this is still short of ‘best practices’. Through panel data analysis, this study finds that the Muslim population indicator, CEO duality, Shari’ah governance, and leverage variables positively impact the disclosure of maqasid performance. However, the effect of GDP, financial development and human development index of the country, its political and civil rights, institutional ownership, and a higher share of independent directors have an overall negative impact on the maqasid performance. The findings reported in this study identify complex and multi-faceted relations between external market realities, corporate and Shari’ah governance mechanisms, and maqasid performance

A coupled optical-thermal-electrical model to predict the performance of hybrid PV/T-CCPC roof-top systems

A crossed compound parabolic concentrator (CCPC) is applied into a photovoltaic/thermal (PV/T) hybrid solar collector, i.e. concentrating PV/T (CPV/T) collector, to develop new hybrid roof-top CPV/T systems. However, to optimise the system configuration and operational parameters as well as to predict their performances, a coupled optical, thermal and electrical model is essential. We establish this model by integrating a number of submodels sourced from literature as well as from our recent work on incidence-dependent optical efficiency, six-parameter electrical model and scaling law for outdoor conditions. With the model, electrical performance and cell temperature are predicted on specific days for the roof-top systems installed in Glasgow, Penryn and Jaen. Results obtained by the proposed model reasonably agree with monitored data and it is also clarified that the systems operate under off-optimal operating condition. Long-term electric performance of the CPV/T systems is estimated as well. In addition, effects of transient terms in heat transfer and diffuse solar irradiance on electric energy are identified and discussed

Loads Model Development and Analysis for the F/A-18 Active Aeroelastic Wing Airplane

The Active Aeroelastic Wing airplane was successfully flight-tested in March 2005. During phase 1 of the two-phase program, an onboard excitation system provided independent control surface movements that were used to develop a loads model for the wing structure and wing control surfaces. The resulting loads model, which was used to develop the control laws for phase 2, is described. The loads model was developed from flight data through the use of a multiple linear regression technique. The loads model input consisted of aircraft states and control surface positions, in addition to nonlinear inputs that were calculated from flight-measured parameters. The loads model output for each wing consisted of wing-root bending moment and torque, wing-fold bending moment and torque, inboard and outboard leading-edge flap hinge moment, trailing-edge flap hinge moment, and aileron hinge moment. The development of the Active Aeroelastic Wing loads model is described, and the ability of the model to predict loads during phase 2 research maneuvers is demonstrated. Results show a good match to phase 2 flight data for all loads except inboard and outboard leading-edge flap hinge moments at certain flight conditions. The average load prediction errors for all loads at all flight conditions are 9.1 percent for maximum stick-deflection rolls, 4.4 percent for 5-g windup turns, and 7.7 percent for 4-g rolling pullouts

Towards automating the sizing process in conceptual (airframe) systems architecting

Presented is a method for automated sizing of airframe systems, ultimately aiming to enable an efficient and interactive systems architecture evaluation process. The method takes as input the logical view of the system architecture. A source-sink approach combined with a Design Structure Matrix (DSM) sequencing algorithm is used to orchestrate the sequence of the sub-system sizing tasks. Bipartite graphs and a maximum matching algorithm are utilized to identify and construct the computational sizing workflows. A recursive algorithm, based on fundamental dimensions of additive physical quantities (e.g., weight, power, etc.) is employed to aggregate variables at the system level. The evaluation, based on representative test cases confirmed the correctness of the proposed method. The results also showed that the proposed approach overcomes certain limitations of existing methods and looks very promising as an initial systems architectural design enabler