Waqf: A Proposed Model for Islamic Finance

This paper develops a Waqf based financing model in order to facilitate the corporate entities to finance their investments fulfilling the tenets of Halal. The basic objective of this research is to provide financing avenues to unprivileged class of the society, the majority of which cannot fulfill the collateral and other requirements of the banks. We have developed a Waqf based model which would be helpful in achieving the objective of this study. Initially the fund will finance the corporate entities then after the growth of this fund; it will start financing the unprivileged class of the society at a low cost and partnership. When the unprivileged class of the society would get financing they would start their businesses that would ultimately reduce the poverty level, create more employment, increase economic activities and would finally results in the increase in GDP and other social benefits.Keywords: Waqf, Riba, Musharakah, Mudarabah, Murahaba, Ijara

Engineering in Mathematical Fallacy 4=5 and Needs How Many Time to Proof 4=4

A fallacy (also called sophism) is the use of invalid or otherwise faulty reasoning, or "wrong moves" in the construction of an argument [20]. A fallacious argument may be deceptive by appearing to be better than it really is. A mathematical argument is a sequence of statements and reasons given with the aim of demonstrating that a claim is true or false. Arguments containing informal fallacies may be formally valid, but still fallacious. An assumption or series of steps which is seemingly correct but contains a flawed argument is called a mathematical fallacy [2]. In proofing 4=5, some mathematicians claims the invention of the word “mathematical fallacy” and some mathematicians want more 365 years to proof 4=4

Manajemen penyelenggaraan kegiatan keagamaan di Masjid al-Ikhlas Perum BPI Ngaliyan Semarang

Penelitian ini merupakan penelitian kualitatif yang membahas tentang "Manajemen Penyelenggaraan Kegiatan Keagamaan di Masjid Al-Ikhlas Perum BPI Ngaliyan Semarang ". Berdasarkan hasil penelitian, pengolahan dan analisis data yang penulis lakukan. Masjid Al-Ikhlas dalam penyelenggaraan kegiatan keagamaan telah menerapkan fungsi-fungsi manajemen yaitu merencanakan kegiatan organisasi, menyusun struktur dan membagi jadwal kegiatan, serta membagi tugas kerja, melaksanakan kegiatan sesuai dengan apa yang direncanakan, dan mengevaluasi semua kegiatan yang telah dilaksanakan. Fungsi-fungsi manajemen tersebut telah diterapkan dengan baik guna mempermudah dalam melaksanakan kegiatan. Dalam penyelenggaraan kegiatan terdapat beberapa faktor penghambat, diantaranya: 1) Kurangnya kesadaran masyarakat untuk mengikuti kegiatan secara rutin. 2) Adanya kesibukan masyarakat yang bekerja sampai larut malam, sehingga jarang mengikuti kegiatan tersebut. 3) Metode masing-masing pengasuh yang monoton dalam memberikan materi sehingga membuat para jama'ah bosan. Sedangkan faktor pendukungnya yaitu : 1) Tersedianya sarana dan prasarana seperti gedung serta fasilitas lain seperti komputer, proyektor, dan fasilitas pendukung lainnya. 2) Berkomunikasi baik dengan masyarakat setempat. 3) Sosialisasi kepada masyarakat. 4) Memasang pengumuman di papan pengumuman dan juga pengeras suara. 5) Mengirimkan surat kepada Ketua RT dan RW untuk kegiatan-kegiatan tertentu

FINANCE AND TECHNOLOGY: KEY CHALLENGES FACED BY SMALL AND MEDIUM ENTERPRISES (SMES) IN OMAN

Purpose: The objectives of the study were to critically investigate the challenges faced by SMEs; to analyze SMEs difficulties during adopting new technologies and to critically investigate the difficulties in the form of policies and procedures. Design/methodology/approach: For this research study, purposive sampling methodology was adopted. Using a well-defined questionnaire, 257 samples were collected from all over Oman. The data collected was recorded, tabulated, summarized and the tests – Chi-square tests, Kolmogorov-Smirnov tests and regression analysis were carried to obtain the results. Findings: The study reveals that most of the respondents got delay in the commencement of business due to lack of finance. It is also revealed that the SMEs are in dire need of technical support at the time of commencement of their businesses and need support to establish IT infrastructure. Research limitations/Implications: The study suggests that the adequate support from General Authority for SMEs can change the scenario of setting up of the SMEs in a smooth transition and the interim advances by the financial institutions can help them avoid time lag. Social implications: The study suggests that the Governmental authority should monitor and follow up SMEs to avoid the SME units becoming sick and provide technical support, guidance and nurse the units, if they become sick. Also, the licensing for the SME units should be made easier through single window system. Originality/Value: Only a very few have examined the main challenges faced by SMEs in Oman. Our study includes selected samples of SMEs and not the micro enterprises. The study can further be extended to all the MSMEs in all the regions / Governorates of Oman