Exchange rates and export growth in Asian economies

This paper discusses the impact of exchange rates on the export performance of selected Southeast Asian economies, namely, Indonesia, Malaysia, Singapore and Thailand. We construct an empirical model to account for the role of the real exchange rate and other economic fundamentals such as macroeconomic stability, terms of trade, capital goods investment, external demand and human capital. The study makes use of a panel data and estimates an export equation using a fixed effect model. The findings in this study strongly corroborate results from the theoretical framework that exchange rate misalignment and exchange rate variability have significant impacts on export performance. The study also finds evidence that the export growth path or these selected economies are dependent on global demand conditions, especially demand from OECD countries

Islamic finance and social sustainability : parameters for developing a model for social impact measurement / Saadiah Mohamad and Nur Amirah Borhan

To be true to the spirit of Islamic finance, embodied in the principles of maqasid al-shariah, developments in Islamic finance should contribute towards promoting social inclusion and reducing poverty. However, Islamic finance is criticised for the minimal social impact that it has created and its contribution towards promoting social sustainability. Thus, this paper aims to develop a comparative analysis of literature on the meaning, conceptualization and measurement models of social impact. Then, the paper uses maqasid al-shariah as a theoretical framework to conceptualise social impact and to propose a set of parametersthat can be used to measure the social impact of IFI

Is Islamic Finance, social finance? / Saadiah Mohamad

Developments in Islamic Finance and Social Finance and illustrate an increasing interest globally to look at alternative ways of financing and creating value in the society. Islamic Finance and Social Finance are emerging disciplines that challenge and influence the global finance industry and both have similar mandates in terms of their emphasis in ethical business and investment. Islamic Finance is governed by the rules of the shariah that prohibits riba or interest and gharar (uncertainty), sinful business sectors such as pornography and alcohol and unethical practices such as exessive speculation and gambling. These forms of restrictions are similar to the negative screening methodology adopted by the socially responsible investment or SRI which is a rising component of Social Finance

Assessment of genetic diversity and hybrid identification in stevia using inter simple sequence repeat (ISSR) markers

Identification of intra-specific diversity is an essential condition for the analysis of genetic diversity. Stevia rebaudiana Bertoni belonging to the family Compositae, has a long and successful history of use as a commercial sweetening agent. Stevia is a self-incompatible plant. Originated from a temperate country Paraguay, stevia is considered as an introduced species thus the number of stevia accessions available in Malaysia is still small and limited. Hybridization through Trigona-assisted pollination has successfully produced seven putative stevia F1 hybrids. In this study, 17 stevia accessions and introductions, mostly from Paraguay and different parts of Malaysia including seven putative stevia hybrids were assayed by inter-simple sequence repeat (ISSR) markers to differentiate and explore their genetic relationships. A total of 332 clear bands were generated, out of which 275 (82.8 %) were polymorphic. The total number of markers varied from 6 to 18 with a mean of 10 markers per primer. The number of polymorphic markers for each primer varied from 3 (IS34/2) to 17 (IS55) with a mean of 8 polymorphic markers per primer. The amplified product size ranged from 50125 to 5000 bp. The PIC values ranged from 0.16 (IS34/2) to 0.5 (IS19, IS55, IS50, IS70 and IS78), with a mean PIC value of 0.43. The Jaccard‘s similarity coefficient values ranged from 0.375 to 812 with an average of 0.54. A dendrogram constructed based on the UPGMA clustering method, revealed two major Groups (A and B). Group-A showed segregated Bertam while Group B was further segregated into seven subgroups consisted of the remaining accessions studied. The present findings unarguably suggest extending the scope of detecting and quantifying the prevalent genetic diversity existing at the molecular level in the stevia accessions and the putative hybrids. To our knowledge this is the first report on the characterization stevia accessions and developed putative stevia hybrids in Malaysia based on thirty two primers. ISSRs have the potential to distinguish closely related accessions based on the patterns of their amplicons. High polymorphism obtained indicates ISSR is an efficient technique or evaluating genetic diversity in stevia. The present study also elucidates the utility of ISSR markers as an efficient tool to screen putative hybrids obtained from Trigona- assisted pollination

Keperluan Dokumentasi Penyusuan Anak Susuan dalam kalangan Masyarakat di Malaysia

Realiti yang berlaku pada hari ini berkaitan dengan keperluan pengurusan dokumentasi penyusuan anak susuan sangat diperlukan ekoran berlakunya pengambilan ibu susuan yang melibatkan jarak yang jauh serta faktor inovasi dalam sains dan teknologi. Penyusuan yang berlaku secara tidak langsung menyebabkan bayi dan ibu susuan saling tidak mengenali antara satu sama lain bahkan boleh juga terjadi ibu bapa bayi tersebut tidak mengenali ibu susuan anak mereka. Hal ini demikian kerana, perhubungan antara ibu susuan dan keluarga bayi hanya berlaku di alam maya, dan susu ibu hanya dipos mengikut permintaan keluarga bayi yang memerlukan susu ibu sehingga tercetusnya hubungan nasab iaitu anak susuannya. Proses pengumpulan data dilakukan melalui kaedah perpustakaan dan kaedah temu bual. Hasil pengumpulan data kajian, menunjukkan keadaan ini semakin membimbangkan apabila masyarakat yang mengamalkan budaya penyusuan anak susuan tidak mengambil tahu impak penyusuan terhadap anak susuan. Kajian ini adalah untuk mendidik dan memberikan kesedaran kepada masyarakat berkenaan dengan kepentingan dalam mengendalikan pengurusan dokumentasi penyusuan anak susuan. Pendokumentasian ini akan menjadi bukti penyusuan anak susuan dalam usaha menjaga nasab susuan selaras dengan perubahan sosial yang berlaku. Tidak adanya pengurusan dokumentasi penyusuan yang mensabitkan mahram susuan akan membawa kepada perkahwinan sesama mahram. Hasil kajian ini, menunjukkan terdapatnya keperluan dan perhatian dari pihak berkuasa dalam usaha untuk mendokumentasikan penyusuan anak susuan ini secara rasmi. Selain itu, kajian ini secara tidak langsung dapat mendidik masyarakat supaya cakna dalam mengendalikan dokumentasi penyusuan anak susuan

Social sukuk: a new mechanism to fund social services / Saadiah Mohamad … [et al.]

While the premise of Islamic finance embraces the principles of maqasid al-shariah and risk sharing with claims to social justice and welfare, the direct impact of the modern Islamic finance industry and its contribution to the social sector has been limited. This paper examines the claim among critics that there is an inherent weakness of the present day Islamic banking and finance in terms of its underdeveloped social sector and argues for the need for new models that will enhance a proliferation of shariah compliant financial products for solutions in the social sector. The paper examines the emergence in Social finance of social bonds as new financing tools targeting on social needs and problems that otherwise would not be tackled. This paper discusses the benefits of structuring such a shariah compliant product and makes recommendations for structuring this new asset class referred to in this paper as social sukuk

PENGENDALIAN DOKUMENTASI ANAK SUSUAN DALAM KALANGAN IBU SUSUAN [HANDLING OF BREASTFEEDING DOCUMENTATION AMONG BREASTFEEDING MOTHERS]

Breastfeeding mothers documentation is a mechanism that needs to be established today. Infants who are breastfed by other women in terms of breastfeeding mothers have the effect of Islamic law on issues of Fiqh and worship. Witnessing and confession are instruments introduced by the syariah for the purpose of proving breastfeeding. In this context, the issue of expressing breast milk and commercial sale of breast milk by certain parties are increasing. It is believed that the operation of this practice has not been formally monitored by the authorities. The objective of this study was to find out the practice of documentation of breastfeeding among nursing and breastfeeding mothers. This study uses the document analysis method of the Fiqh book to see the views of scholars in breastfeeding and interviews conducted with breastfeeding mothers and nursing mothers. Studies have found that there are various ways in documentation of breastfeeding mothers. Therefore, for breastfeeding documentation due to current breastfeeding practice, the management of milk-child documentation officially need to be implemented. Dokumentasi anak susuan merupakan mekanisma yang perlu diwujudkan pada masa kini. Bayi yang disusui oleh wanita lain dengan memenuhi syarat penyusuan memberi kesan hukum syarak dalam isu munakahat dan ibadat. Penyaksian dan pengakuan merupakan instrumen yang diperkenalkan syarak bagi tujuan pembuktian penyusuan anak susuan. Kontemporari ini, berlaku isu pengambilan susu ibu secara ekspres dan penjualan air susu ibu secara komersial oleh pihak tertentu semakin meningkat. Didapati pengendalian kepada amalan ini belum dipantau oleh pihak berkuasa secara rasmi. Objektif kajian ini adalah untuk mengetahui amalan dokumentasi penyusuan anak susuan dalam kalangan penjaga dan ibu susuan. Kajian ini menggunakan kaedah analisis dokumen terhadap kitab-kitab fiqh bagi melihat pandangan ulama terhadap penyusuan dan temubual telah dijalankan kepada ibu susuan serta penjaga anak susuan. Kajian mendapati berlaku kepelbagaian cara dokumentasi anak susuan. Justeru, bagi proses pendokumentasian anak susuan ekoran amalan pengambilan anak susuan yang berlaku pada masa kini, pengurusan dokumentasi anak susuan secara rasmi perlu dilaksanakan

Assessment of Genetic Diversity and Hybrid Identification in Stevia Using Inter Simple Sequence Repeat (ISSR) Markers

Identification of intra-specific diversity is an essential condition for the analysis of genetic diversity. Stevia rebaudiana Bertoni belonging to the family Compositae, has a long and successful history of use as a commercial sweetening agent. Stevia is a self-incompatible plant. Originated from a temperate country Paraguay, stevia is considered as an introduced species thus the number of stevia accessions available in Malaysia is still small and limited. Hybridization through Trigona-assisted pollination has successfully produced seven putative stevia F1 hybrids. In this study, 17 stevia accessions and introductions, mostly from Paraguay and different parts of Malaysia including seven putative stevia hybrids were assayed by inter-simple sequence repeat (ISSR) markers to differentiate and explore their genetic relationships. A total of 332 clear bands were generated, out of which 275 (82.8 %) were polymorphic. The total number of markers varied from 6 to 18 with a mean of 10 markers per primer. The number of polymorphic markers for each primer varied from 3 (IS34/2) to 17 (IS55) with a mean of 8 polymorphic markers per primer. The amplified product size ranged from 50125 to 5000 bp. The PIC values ranged from 0.16 (IS34/2) to 0.5 (IS19, IS55, IS50, IS70 and IS78), with a mean PIC value of 0.43. The Jaccard‘s similarity coefficient values ranged from 0.375 to 812 with an average of 0.54. A dendrogram constructed based on the UPGMA clustering method, revealed two major Groups (A and B). Group-A showed segregated Bertam while Group B was further segregated into seven subgroups consisted of the remaining accessions studied. The present findings unarguably suggest extending the scope of detecting and quantifying the prevalent genetic diversity existing at the molecular level in the stevia accessions and the putative hybrids. To our knowledge this is the first report on the characterization stevia accessions and developed putative stevia hybrids in Malaysia based on thirty two primers. ISSRs have the potential to distinguish closely related accessions based on the patterns of their amplicons. High polymorphism obtained indicates ISSR is an efficient technique or evaluating genetic diversity in stevia. The present study also elucidates the utility of ISSR markers as an efficient tool to screen putative hybrids obtained from Trigonaassisted pollination

Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.]

Unlike the traditional Finance, Islamic finance must observe the teachings of Shari’ah whose basic teaching cannot be violated at any point in time. These basic teachings constitute the core element of the faiths that are best described as maqasid al-shari’ah. While prohibiting Riba, Gharar, Maysir, Islam promotes maslahah by protecting the interests and benefits of all parties involved in the market. This paper emphasizes on the main underlying causes (‘Illah) for the prohibition of these on the basis of Islamic and socio-economic point of views. This is paper is based on secondary sources such as classical books, articles etc. There is no difference of opinion among scholars that Riba, Gharar, Maysir is clearly prohibited by both Quran and the Sunnah. However, Questions continue to be raised about their meanings and implications because of the diverse applications in commercial transactions (Mu’malat). This paper is a humble attempt to clarify the meaning and implications of these terms

Acceptance of Islamic Banking in New Zealand: Perspectives from Potential Customers

The Islamic banking system stems from an interest free economic transaction model, which was introduced well in the early days of Islam. Even though the development of Islamic banking in the southern hemisphere is not as rapid as in the northern hemisphere, this does not imply that small western countries such as New Zealand are not interested in this niche sector. The increasing number of the Muslim population in New Zealand, which grew to 70,000 by 2018, shows that there may be a potential demand for Islamic financial services. This perception study which is part of a larger feasibility study uses a quantitative approach to examine the perception level of New Zealand residents towards their intention to use Islamic banking. Using purposive sampling technique, 300 questionnaires were distributed to potential banking customers, irrespective of religion, residing in New Zealand. Multiple regression analysis was conducted to capture whether the variables based on the theory of reasoned action including knowledge, religious values, subjective norms and attitude had an effect on the New Zealand residents' intention to use Islamic banking. It was interestingly noted that only attitude had a significant effect on how New Zealand residents perceive their intention to use Islamic banking in their daily lives. Overall, this study has ascertained the level of perception towards their intention to use Islamic banking among potential customers in New Zealand. The results of this study can be used as a framework for the setting up of an Islamic banking system in New Zealand