FinTech, blockchain and Islamic finance : an extensive literature review

Purpose: The paper aims to review the academic research work done in the area of Islamic financial technology. The Islamic FinTech area has been classified into three broad categories of the Islamic FinTech, Islamic Financial technology opportunities and challenges, Cryptocurrency/Blockchain sharia compliance and law/regulation. Finally, the study identifies and highlights the opportunities and challenges that Islamic Financial institutions can learn from the conventional FinTech organization across the world. Approach/Methodology/Design: The study collected 133 research studies (50 from Social Science Research Network (SSRN), 30 from Research gate, 33 from Google Scholar and 20 from other sources) in the area of Islamic Financial Technology. The study presents the systematic review of the above studies. Findings: The study classifies the Islamic FinTech into three broad categories namely, Islamic FinTech opportunities and challenges, Cryptocurrency/Blockchain sharia compliance and law/regulation. The study identifies that the sharia compliance related to the cryptocurrency/Blockchain is the biggest challenge which Islamic FinTech organizations are facing. During our review we also find that Islamic FinTech organizations are to be considered as partners by the Islamic Financial Institutions (IFI’s) than the competitors. If Islamic Financial institutions want to increase efficiency, transparency and customer satisfaction they have to adopt FinTech and become partners with the FinTech companies. Practical Implications: The study will contribute positively to the understanding of Islamic Fintech for the academia, industry, regulators, investors and other FinTech users. Originality/Value: The study believes to contribute positively to understanding of Fintech based technology like cryptocurrency/Blockchain from sharia perspective.peer-reviewe

Design and provisioning of WDM networks for traffic grooming

Wavelength Division Multiplexing (WDM) is the most viable technique for utilizing the enormous amounts of bandwidth inherently available in optical fibers. However, the bandwidth offered by a single wavelength in WDM networks is on the order of tens of Gigabits per second, while most of the applications\u27 bandwidth requirements are still subwavelength. Therefore, cost-effective design and provisioning of WDM networks require that traffic from different sessions share bandwidth of a single wavelength by employing electronic multiplexing at higher layers. This is known as traffic grooming. Optical networks supporting traffic grooming are usually designed in a way such that the cost of the higher layer equipment used to support a given traffic matrix is reduced. In this thesis, we propose a number of optimal and heuristic solutions for the design and provisioning of optical networks for traffic grooming with an objective of network cost reduction. In doing so, we address several practical issues. Specifically, we address the design and provisioning of WDM networks on unidirectional and bidirectional rings for arbitrary unicast traffic grooming, and on mesh topologies for arbitrary multipoint traffic grooming. In multipoint traffic grooming, we address both multicast and many-to-one traffic grooming problems. We provide a unified frame work for optimal and approximate network dimensioning and channel provisioning for the generic multicast traffic grooming problem, as well as some variants of the problem. For many-to-one traffic grooming we propose optimal as well as heuristic solutions. Optimal formulations which are inherently non-linear are mapped to an optimal linear formulation. In the heuristic solutions, we employ different problem specific search strategies to explore the solution space. We provide a number of experimental results to show the efficacy of our proposed techniques for the traffic grooming problem in WDM networks

An artificial intelligence and NLP based Islamic FinTech model combining Zakat and Qardh-Al-Hasan for countering the adverse impact of COVID 19 on SMEs and individuals

Pursose: The ongoing Corona virus (COVID 19) pandemic has already impacted almost everyone across the globe. The focus has now shifted from spread of the disease to the economic consequences it will bring to the society. The shortage of production will result into the shortage of supply and consequently will end as loss of jobs and employment for millions of people around the world. Two of the most important section of our society i.e., daily wage laborers and Small and Medium Enterprises (SMEs) will have to bear the major burnt of this crisis. The proposed integrated Artificial Intelligence and NLP based Islamic FinTech Model combining Zakat (Islamic tax) and Qardh-Al-Hasan (benevolent loan) can help the economy to minimize the adverse impact of COVID 19 on individuals and SMEs. Design/Methodology/Approach: The present study explores the possibility of Zakat and Qardh-Al-Hasan as a financing method to fight the adverse impact of Corona virus on poor individuls and SMEs. It provides the solution by proposing an Artificial Intelligence and NLP based Islamic FinTech Model combining Zakat and Qardh-Al-Hasan. Findings: The findings of the study reveals that Islamic finance has immense potential to fight any kind of situation/pandemic. Zakat and Qardh-Al-Hasan, if combined together can prove to be a deadly combination to fight the adverse effect of COVID 19. Practical Implications: To be used as an effective way to support individuals and SMEs in the period during and after the pandemic of COVID 19. Originality/value: There is no study combining Zakat and Qardh Al-Hasan to fight the adverse effect of poor individuals and SMEs. The study will contribute massively to the existing literature and will help the government and civil societies in fighting the economic impact of COVID 19 on individuals and SMEs.peer-reviewe

Socioeconomic Impact of COVID-19 in MENA region and the Role of Islamic Finance

This paper analyses the socio-economic impact of the noble Corona virus (COVID-19) on ‘Middle East and North Africa’ (MENA) region as well as the role and opportunities of Islamic finance post COVID-19. The findings show that pandemic has affected the MENA region massively like any other region in the world. Since around 69% of the word’s crude oil supply is from this region alone, this causes it to suffer from dual shocks of COVID-19 pandemic as well as the declining crude prices that is caused by shocks from both ends, negative supply shock and a negative demand shock. The 19 countries in MENA region include from some of the richest countries of the world such as, Qatar, Kuwait, and Saudi Arabia, to some of the most vulnerable, poor and war ridden countries like Yemen, Syria, and Morocco. To mitigate the adverse effects of the pandemic, we suggest some immediate actions that can be taken such as a public fund to support health system, financial support to individuals and SME’s, financial support to corporations in order to prevent job loss and layoff and assurance of liquidity in domestic markets to prevent liquidity crunch. Finally, the paper analyses the role of Islamic finance in the region in recovery post COVID-19 and show that Islamic finance can be utilized as an alternative financial system in providing the relief to the COVID-19 affected people and entrepreneurs

Islamic International law and its significance in the contemporary global landscape

Islamic international law, also known as "Fiqh al-Siyar," is a legal framework that governs the conduct of Muslim individuals and states in their interactions with the international community. This research article aims to explore the Islamic international law historical development, principles, application, and contemporary challenges. After analyzing the Islamic sources, including the Quran, Hadith, and scholarly consensus, this study sheds light on the unique features and contributions of Islamic international law to the broader field of international law. This research article explores the topic of Islamic international law and its significance in the contemporary global landscape. The study provides a comprehensive analysis of Islamic international law, its historical development, principles, sources, and application. A comparative analysis is conducted to highlight the similarities and differences between Islamic international law and other legal systems and international legal frameworks. The research also addresses the contemporary challenges faced by Islamic international law and the debates within the Muslim world regarding its interpretation and application. The research emphasizes the constructive role that Islamic principles play in addressing contemporary global challenges, such as climate change, poverty alleviation, and sustainable development. A comparative analysis is conducted to compare Islamic international law with other legal systems and international legal frameworks, identifying similarities, differences, and potential areas of convergence. The study highlights the shared principles of justice, respect for sovereignty, and treaty obligations, while also noting differences in sources of law and legal concepts. Keywords: Islamic international law; Fiqh al-Siyar; Muslim states; Quranic principles; Contemporary challenge

Personality Profiles of Software Engineers and Their Software Quality Preferences

Studies related to human aspects in software engineering (SE) have been performed from different perspectives. These perspectives include the study of human factors in different phases of software life cycle, effect of team performance in software development, how can a personality trait suit a particular task, and about some other miscellaneous issues. This research work aims to establish personality profiles of Pakistani software engineers using the Myers-Briggs Type Indicator (MBTI) instrument. In this survey, we have collected personality profiles of 110 software engineers. Moreover, their preferences of software quality attributes have also been collected. Analysis of the study shows that the most prominent personality type is a combination of introversion, sensing, thinking and judging. Investigative results indicate that most of the software engineers consider usability and functionality as the most important software quality attributes

Acquired Uterine Vascular Anomaly: Experience from a tertiary care center in Pakistan

Objective: To retrospectively review imaging findings and the outcomes of uterine artery embolization (UAE) in symptomatic uterine vascular anomalies. Methods: We identified 15 cases of acquired uterine vascular anomaly from 2010 to 2020 who were evaluated with ultrasound, computed tomography, and magnetic resonance imaging, either alone or in combination. All patients had history of dilatation and curettage or uterine instrumentation. They underwent angiography and embolization of the uterine arteries. Primary outcome post embolization was assessed clinically and/or in combination with ultrasound. Post procedure pregnancies were also recorded. Results: Non-invasive imaging was abnormal in all patients, however this pre intervention imaging was unable to accurately classify the type of vascular anomaly except in the case of pseudoaneurysm. Conventional angiography showed uterine artery hyperemia in 6, arteriovenous malformation in 7 and pseudoaneurysm in 2 patients. The technical success rate was 100% with no repeat embolization needed. Follow up ultrasound in 12 patients revealed resolution of abnormal findings, remaining three were normal on clinical follow up. Seven patients (46.7%) had a normal pregnancy, 15.7 months after the procedure (range 4-28 months). Conclusion: UAE is a safe and effective management option for intractable severe bleeding in patients with uterine vascular anomaly post instrumentation and is seen not to impair future pregnancy. Keywords: Uterine artery embolization; Pseudoaneurysm; Arteriovenous malformation; Ultrasound; Computed tomography; Magnetic resonance imaging