Teaching and Research Methods for Islamic Economics and Finance-Routledge (2022)

INDEX Note: Locators in italics represent Akram, H. 319 figures and bold indicate tables in the Aktürk, C. 194 text. Al-Ajmi, J. 319 Abbasiyah period 8–9 Al-Azhar University, Egypt 19 Abdou, H.A. 306 Al-Banna, H. 341 Abdullahi, S.I. 249 Al-Farabi Kaznu Islamic Finance Abidin, A.Z. 349 Abidin, N.H. Z 349 Scientific and Educational Center 21 Abozaid, A. 43, 46 al-Ghazali, Imam Abu Hamid absolute numbers 295 Abu Hussain, H. 319 232; dimensions 48; five pillars academic courses, content and safeguarding principles 50–51 Ali, M.M. 320 composition 24–27 al-ijtihād f ī al-naṣṣ 94 academic programs, design methodology al-Istihsan 50 Al-Khinn 103 17–18; content and composition of Allah (swt) 71 academic courses 24–27; institutional allocative efficiency (AE) 342 development 18–21; knowledge al-Muqaddimah 113 content building 21–27; learning Al-Najjar 48 outcomes 22–23; process of designing al-Qawa’id al-Kulliyah al-Fiqhiyyah 91, content 21–22 97 academic programs in Islamic economics Al-Qayem, Ibn 232 and finance 17–18 Al-Sahtibi 232 academic research 31 Alsharari, N.M. 315 Accounting and Auditing Organization al-Shatibi, Imam 100, 246 of Islamic Financial Institutions amanah (trust) 71 (AAOIFI) 351 Amin, R.M. 25 accounting standards 357 AMOS (analysis of moment structures) Addas, Waleed 59 288, 291 Ad hoc planning for meetings 188 analogical reasoning 99 AE. see allocative efficiency (AE) analytic hierarchy process (AHP) 292, agent-based modeling (ABM) 282, 283, 294 296–300 analytic network process (ANP) 282, ahkām 101 283, 292–296, 294–295 Ahmad Ibrahim Kulliyyah of Laws An-Najah National University 19 (AIKOL) 72–75, 77–79, 87 AnyDesk 194 Ajloun National University 20 ‘aql 349 Akbar Noor Mohamad Noor, M. 328 Aqwāl al-ṣahaba 94 Akhmetova, E. 245 ARCH (q) model 270 Arellano, M. 278–279 363

INDEX Arellano-Bond test 279 Cairo Conference 18 ARMA/ARIMA model 267–269 CAMELS system 307–309, 308 al-Arqam bin Abi al-Arqam capital adequacy ratio 308 capital markets 42 al-Makhzumi 7 Cebeci, Ismail 58, 358 Arsyianti, L.D. 148 Central Bank of Malaysia 19 artificial intelligence (AI) 229, 240–241, Centre for Islamic Economics and 310 Finance 20–21 Ascarya, A. 328, 340 Certificate in Islamic Banking and ‘Ashur, Ibn 46 Aslam Haneef, M. 248 Finance (CIBF) 81 asset quality 308 Certificate in Islamic Banking and Astrom, Z.H.O. 313 autodidactic or independent group work Finance for Legal Practitioners (CIBFL) 81 125–127 Certificate of Fiqh al-Mu’amalat and autoregressive conditional Waqf (CIBFW) 81 Certificate of Shari’ah for Takaful heteroscedasticity (ARCH) model Practitioners (CSTP) 81 270 Certified Professional Shariah Auditor autoregressive distributed lag (ARDL) (CPSA) 169; module online 170 273–275, 328 Certified Professional Shariah Audit ayah 102 (CPSA) program 165 Ayyubi, S.E. 148 Chapman, Bob 235 Aziz, Abdul 51 Chapra, M.U. 43 Aziz, M.R.A. 50 Chomsky, N. 116 Bai’ al-inah 46 Choudhury, Masudul Alam 58, 61, 68, Bai’ Bithaman Aajil (BBA) 46 248, 282 Baitul Maal wat Tamwil (BMT) 328 Chua, Y.L. 147 Bait-un-Nasr (BuN) Urban Cooperative Cisco Web Meeting 210 Credit Society in Mumbai, India class-based learning 11 321 climate change 50 Bank Negara Malaysia 349 cloud adoption 310–311 Bank of International Settlement 92 Cockayne, D. 143 banks 32 Colander 130 Bankscope 318 College of Administration and Business Bay’ al-Mādūm 107 at the University of Bahrain 21 Bay’ al-Salam 107 College of Islamic Economics and BAZNAS (BAZIS) DKI Jakarta 53 Finance 19 Beaumont, C. 316 College of Islamic Studies 20 Belabes, A. 18, 25 College of Shari’ah, Palestine 19 Belouafi, A. 18, 25 College of Shari’ah and Islamic Studies Berra, Yogi 324 20 Bible 240 colloquiums 84–85 big data analytics 240–241, 310 colonialism and post-colonialism period Bitcoin 92 9–10 blockchain 310 commercial law 100 Bloomberg 318 comprehensive ecosystem in Islamic Bloom’s taxonomy pyramid 22 banking and finance programs 88 Bohman, D.M. 143 conceptual research design 317–318 Bollen, K. 289 conferences 84–85 Bond, S. 278–279 confirmatory factor analysis (CFA) 287 Borglin, G. 143 constant return to scale (CRS) 344 Boulding, K.E. 250 consumer behavior 32 Burns, J. 315 consumer price index (CPI) 340 business-client relationship 306 contemplation (tafakkur) 115 364

INDEX content analysis 258–260 Department of Fiqh and Islamic Studies content design methodology 17 20 content-focused method 203 conventional economics and finance Department of Islamic Banking 20–21 Department of Islamic Economics 19, (CEF) 328 conventional theories 35 21 corporate social responsibility (CSR) Department of Islamic Economics and 320 Finance 21 corruption 50 Department of Islamic Finance and courses: assessment methods 22; content Banking Sciences 21 18; description 18; learning outcomes determining weighted score (WS) 217 22; pillars 22–23; scientific material 22; development strategy 37; collaborating teaching strategy 22 covariance-based SEM 288 with Islamic economics and COVID-19 pandemic 29, 65, 67, finance industry 39; incentives to 164–165; employability prospects academics to conduct research 39; after training program 177–179; increasing cooperation with the employability prospects during Islamic economics and finance 168–169; impact on educational sector industry 37–38; innovating research in Malaysia 165–166; social distancing methodology 39; strengthening and and 200; training programs during developing existing Islamic theory 172–173; see also Zoom application, 39; strengthening Islamic economics teaching and learning IEF and finance research conducted by credit scoring model 306 academics 38–39 Crescent Rating Standard 54 Dhannī 101–105 critically reflective pedagogy Dhawan, S. 192 117–118 dialectics (jadal) 115 Çubukçu, C. 194 Dikko, M. 51 curriculum: content methods 160; din 349 development 17 discerning between matters (tawassum) customer satisfaction index (CSI) 211– 115 212, 216–217, 223–224 discourse (munazara) 115 Dalālah al-Naṣṣ 94 discriminant analysis 306 Damascus, Syria 8 discussion 8 Damenu, T.K. 316 disputation (tariqat an-nazar) 115 Dangulbi, S.M. 45 distribution-free approach (DFA) 342 Darul Arqam 7 donations 22 data collection 169–172 Dubai Islamic Bank 42 data envelopment analysis (DEA) 328, Durham Centre for Islamic Economics 342–346 21 DataStream 318 Dusuki, A.W. 43, 46 Dauda, C.K. 355 dynamic panel data 278–279 debt-based economy 315 early phase, Islamic studies and teaching decision-making methods 293 methodologies: Darul Arqam 7–8; decision-making unit (DMU) 342 halaqah 8; Mecca 7–8; Medina 7–8; Delphi-ANP method 327, 337–339 Nabawi Mosque 8 Delphi-Likert method 333–335, 334–335 earnings 308 Delphi method 327, 330–333, 331 econometrics modeling 339; and Delphi questionnaire 333 conventional worldview interpretation Delphi-SEM method 327, 335–337, 336 355 demonstration 8 economic inequality 50 Department of Economics and Islamic economic taxonomy 235–237 Banking 20 educational achievements 17 educational curricula at Al-Azhar University 18 365

INDEX educational methods 8 fiqh 56–57, 90, 95; economic analysis educational subjects and courses 17 61; evidence-based ijtihad 65–66; education phase transformation 9 extended applications of mainstream EGARCH (p,q) model 271 methodologies 68; inter-discipline El-Din, Tag 249 ijtihad 67; interpretation of revelation, e-learning and employability related validating 64–65; Islamic eco- finance 67–68; juristic councils and to training program conducted in institutional fatwas 66–67; mainstream COVID-19 pandemic 164–165; course scientific approaches design 167; data collection 169–172; 64–68; methodology debate, effectiveness of training program significance of 57–58; mini-cases 173–176; employability prospects analysis 68–69; philosophical 168–169; employability prospects foundations 60–64; rational analysis after the training 176–179; findings and induction 63–64; review of and discussions 172–173; in Malaysia related works 58–60; sources and 165–166; professional shariah audit epistemological approaches training program 166–168 61–63 e-learning processes 165, 183–184 ending hunger 29 Fiqh al-’ibadat 56 Engle, R.F. 270, 272 Fiqh-al-Mu’āmalāt 46, 56, 90, 107, 155 entrepreneurial activities 146–147 fiqhī 92 entrepreneurship program 146 first-difference GMM (FD-GMM) 278 equalization 142 First Makkah Conference on Islamic error correction model (ECM) 272–273, 328 Economics 18–19 error correction term (ECT) 273 First World Conference on Muslim evidence-based ijtihad 65–66 exploratory factor analysis (EFA) 287 Education in Mecca 9 exploratory or formulative research Fisol, Mohammed 50 studies 30 Fitriawati, D. 211 exponential generalized autoregressive focus group discussion (FGD) 331 conditional heteroscedasticity forecast error variance decomposition (EGARCH) model 270 face-to-face training 167 (FEVD) 284 faculties or kulliyyah offer Islamic forecasting 284 finance courses 73–74 fractional reserve banking (FRB) system Fajrin, M.U. 212 Fama and French models 309 45 Farooqi, A.H. 321 Friedman, Milton 64, 250 Fatimah, Z. 211 F-statistic 275 fatwas 66–67 fuqahā 90, 92–93, 95 Ferguson, C.E. 291 Furqani, H. 35, 59, 248, 349 field-based learning 11 gap analysis 211–212, 216 finance in Islam 26 GARCH (p,q) model 270 Financial Accreditation Agency 19 gathering insight (tabassur) 115 financial assets 32 generalized method of moments (GMM) financial crisis of 2008 19 financial economy 91–92 278, 308–309 financial Fiqh 18, 26 GERMAS Indonesia 209 financial institution fiduciaries 241 ghabn fāḥish 93 financial institutions development 5 Ghani, A.A. 51 financial management 32 gharar 42, 92–93, 104 financing terrorist organizations 351 gharar fāḥish 106 fin-tech model 309–310 al-Ghazali, Imam Abu Hamid 48, 113, 116, 246 Ghazali approach 52 Global Entrepreneurship Index (GEI) 146 global financial crisis 350 366

INDEX global Islamic juristic councils 66, 66 human resources (HR) 5–6, 15 Godlewski, C.J. 360 hypothesis-testing research studies 31 goodness-of-fit tests 289, 291 ibadah (worship) 71 Google Calendar 188 ‘ibādāt 100 Google Form 193 ibāha, principle of 93 Google Meet 182, 184, 194 IBF. see Islamic Banking and Finance GoToMeeting 182, 184, 194, 210 Granger causality test 284–285 (IBF) Great Recession of 2008 243 Ibn ‘Ashur’s element 48 Greek cultural heritage 8 Ibn Jamaah 129 gross domestic product (GDP) 35 IIUM Institute of Islamic Banking group-lending approaches 328 group research interactive teaching and Finance (IIiBF) 72, 75–76, 80–81, 87 (GRIT) 118, 133 Ijmā’ 63, 94, 103 G Suite 182, 184 Ijma’ Sarih 103 Gujarati, D.N. 339 ijtihad 66–67, 96, 255 Gulf Cooperation Council 167 ‘illah, methods 98–100 Gürel, E. 32 Imam Mohammad Ibn Saud Islamic hadith 34 University 19 Hair, J.F. 290–291 Imla method 9 Hajar, Ibn 101 importance performance analysis (IPA) halal cosmetics 29 211–215, 221 halal food 341; and beverages 29; impulse response function (IRF) 284 income inequality 29 sector 5 independent learning 139 halal markets 42 Indonesia 6, 10–12; education providers halal pharmaceuticals 29 of Islamic economics and finance 11; halal travel 5 IEF 11; natural disasters 145 Hallaq, W. 103 industrial production index (IPI) 340 Hanbal, Ibn 232 inflation 50 Haneef, M.A. 25, 35 Institute of Islamic Banking and Hanefah, Mustafa Mohd 53 Finance 19 Hangout Meets 210 Institute of Islamic Economics and hard modeling 288 Finance 21 hardship elimination 50 Institute of Islamic Economics in Jeddah harmonization 250–252 18 Hasan, Z. 248, 349, 355, 360 institutional development of Islamic Hashim, A.M. 51, 314 economics 20, 21 Hassan, Zubair 58 institutional developments 17–21 Heiden, C. 255 institutional fatwas 66–67 Hidayat, S.E. 148 insurance companies 42 higher learning institutions in Islamic Integration, Islamization, Internationalization, and finance 72–73 Comprehensive Excellence (Triple ICE HIV/AIDS 67 (IIICE)) 71 Holistic Coaching and Village interactive, integrative, and evolutionary (IIE) process-oriented circular 282 Empowerment Program 148–149 interactive or participative method 203 homo economicus 62, 119–120, 125 inter-discipline ijtihad 67 homo Islamicus 62, 125 interest-free institution financing 44 Hopper, C.H. 140 interest-free microfinance practices in Hudaefi, F.A. 320 India 321 ḥukm 98 International Centre for Education in ḥukm al-shar’I 96 Islamic Finance (INCEIF) 19 humanistic-economic context 229 humanitarian project 145–146 367

INDEX International Conference on Islamic in 44; Maqasid-Based Performance Economics 243 Evaluation Model (MPEM) 47–48; research areas 86; spirit of 44 International Financial Reporting Islamic capital market 36, 50–51 Standards (IFRS) 351–352, 357, 357, Islamic Centre Sheikh Zayed 19 359, 359 Islamic civilization 9 Islamic commercial financial instruments International Institute for Islamic 42–43 Economics 19 Islamic Conference of Ministers of Higher Education and Scientific International Islamic Fiqh Academy Research (ICMHESR) 137 (IIFA) 65 Islamic criminal law 78 Islamic economic philosophy 37 International Islamic University 19 Islamic economics 31, 243 International Islamic University in Islamic (macro) economics 32 Islamic economics and finance (IEF) Malaysia 10 5, 11, 17–18, 20–22, 29–30, 67–68, International Islamic University in 141, 257; courses 18; criticisms from economists 37; data center 39; Pakistan 10 educational and research institutions International Islamic University of 36; innovating research methodology 39; Islamic accounting 11; Islamic Islamabad 19 economics 11; Islamic finance 11; International Islamic University of Islamic management 12; learning outcomes 23; muamalat 11; programs Malaysia (IIUM) 71–72; Ahmad 21–23; rapid development 36; research Ibrahim Kulliyyah of Laws (AIKOL) and research methodology 30–31; 74–75, 77–79; case study 83–84; research conducted by academics 38; comprehensive ecosystem in Islamic research topics applied in Islamic banking and finance programs 88; economics and finance 31–32; course assessments 84; faculties teaching methodology and technique or kulliyyah offer Islamic finance 11 courses 73–74; higher learning Islamic economics and finance (IEF), institutions in Islamic finance 72–73; teaching and methodology 1–2, IIUM Institute of Islamic Banking 10; Indonesia 6, 10–12; industrial and Finance (IIiBF) 75–76, 80–81; growth 2; Malaysia 6, 12–13; phase industry engagement 85–86; Islamic transformation 10; standards and finance programs and courses offered techniques 2; United Kingdom 13–14 76–81; Kulliyyah of Economics and Islamic Economics Departments 18–19 Management Sciences (KENMS) Islamic Economics Division in the 73–74, 76–77; Kulliyyah of Islamic Shari’ah Graduate Studies 19 Revealed Knowledge and Human Islamic economic sector, global Sciences (KIRKHS) 75, 79–80; investment 6 lectures and presentations 82–83; Islamic economic system 10 methods of teaching, learning, and Islamic economic theory 35, 37; research 81–86; research 85; seminars, incentives to academics 39 colloquiums, and conferences Islamic educational institution 7 84–85; strength in teaching, learning, Islamic family law 78 and research in Islamic finance Islamic finance (ISFIN) 17–19, 31, 77, 87–88; strong foundation for islamic 103, 313–315; artificial intelligence knowledge 87–88 310; banks 32; big data analytics 310; International Monetary Fund (IMF) 314 blockchain 310; CAMELS system International Shari’ah Research 307–309; case study research design Academy for Islamic finance (ISRA) 320–321; cloud adoption 310–311; 19 investments 5 iqamah al-`adl 46 Iranian Islamic banking 327 Ishak, 46 Islamic and societal values 22 Islamic Banking and Finance (IBF) 19, 32, 36, 44–50, 80; Maqasid al-Shari’ah 368

INDEX comparative of features 321–324; Islamic Mu’āmalāt law 156 conceptual research design 317–318; Islamic nonprofit microfinance 29 consumer behavior 32; courses based Islamic Organization for Medical on domains 88; credit scoring model 306; financial assets 32; financial Sciences (IOMS) 67 management 32; Islamic fin-tech Islamic pedagogical paradigm model 309–310; issues and challenges in research 303–304; logistic regression 114–117 307; mixed method research design Islamic public equity funds 50 319–320; Mudharabah investment Islamic scholars and contextual model 305; neural network 306–307; qualitative research design understanding 353–354 316–317; quantitative research Islamic social finance (zakat and waqf) design 318–319; quantum computing 310; research design methodologies 29, 42, 52–53, 148 315–316; and research methodologies Islamic social funds 52 306–307; risk management 32; takaful Islamic social marketing 53 304–306; Wakalah insurance model Islamic social reporting (ISR) 352 304; Wakalah Mudharabah model Islamic studies, teachings and 305; Waqf model 305–306 Islamic Finance Development methodologies 7; colonialism and Report 44 post-colonialism period 9–10; early Islamic Finance Programs 73; and phase 7–8; medieval phase 8–9 courses offered 76–81 Islamic theory, strengthening and Islamic finance research: challenges developing 39 faced by 352–353; differences in 359 Islamic Weltanschauung 116 Islamic finance researchers 355 Islamic Worldview 73 Islamic financial assets 29 Islamization 73; of educational curricula Islamic financial contracts 46 17, 28n3; of knowledge 9–10, 12, 15, Islamic financial industry 68 113; of science 58 Islamic financial institutions (IFIs) 42, Istanbul University 21 52, 328 istidlāl 96 Islamic financial management 43 istiḥkār 93 Islamic Financial Services Act (IFSA) Istihsan 63 353 Istiḥsān 94 Islamic financial system 26, 32, 237 istinbāṭ 96 Islamic fin-tech model 309–310 istiqrā’ 95–96 Islamic Fiqh Academy 24 Istiṣhāb 94, 97 Islamic fiscal policy 68 Istiṣlāh 94 Islamic Foundation in the United Jadevicius, A. 324 Kingdom 13 jalb al-maslahah 46 Islamic governance and morality 31 John, B. 315 Islamic insurance (takaful) 51–52 Jöreskog, K. 287 Islamic jurisprudence 56, 60, 67, Jouti, A.T. 318 355 juristic councils and institutional fatwas Islamic knowledge model 28 66–67 Islamic law 77; of banking and takaful juristic counsel 66, 66, 66–67 78; of succession 78; of transactions justification of slamic jurisprudence 78 (fiqh) 34 Islamic legal ruling. see fiqh juz’iyyat 63 Islamic legal system 78 kafala 29 Islamic microfinance 148 Kahf, M. 45, 59 Islamic microfinance institutions (IMFI) Kahf, Monzer 59 328 Kamaruddin, Hisham 53 Kamla, R. 351 khabar wāhid 100, 103 Khaldun, Ibn 113, 232 369

INDEX Khan, Fahim 87 mainstream economics and finance 60 Khan, M.A. 255 mainstream techniques 247–248 Khan, Muhammad Akram 58–59, 63–65 Makdisi, G. 115 Khattab, Umar bin 43 mal 349 King Abdulaziz University in Saudi Malaysia 6, 12–13; education providers Arabia 18, 20 of Islamic economics and finance 12; Kizilkaya, Necmettin 58–59 e-learning and employability related Knowledge and Civilization 73 to training program conducted in Koh, Y.Y. 147 COVID-19 pandemic in 165–166; Kothari, C. 30 IEF system 12; International Islamic Krippendorff, K. 260 University 12; legal system 78; Kulliyyah of Economics and teaching methodology and technique in learning IEF 13; see also specific Management Sciences (KENMS) entries 72–74, 76–77 Malinvaud 249 Kulliyyah of Islamic Revealed māl mutaqawwim 93 Knowledge and Human Sciences management efficiency 308 (KIRKHS) 72–73, 75, 79–80, 87 maqasid 65, 253; index 50; performance kulliyyahs 72–73, 85 50; theory for assessing human well- kulliyyat 63 being 52 Kuran, T. 37 Maqasid al-Shari’ah 2, 42–44, 46, 50, kuttāb 197–198 80, 138, 245–247, 252, 314, 349, 351, lā ḍarar wa lā ḍirār, principle of 93 360; al-Ghazali’s and Abu Zahrah’s Laldin, M.A. 349 frameworks 48; based performance Lateh, N. 327 47; in BAZNAS 52; capital market Lathifah, U. 211 instruments 50; evaluation framework learner-centered method 203 49; framework 45–46; index 320; lecture (qira’at) 115 Islamic banking 44–50; Islamic capital lecture method 9 market 50–51; Islamic insurance lectures, avantages and disadvantages (takaful) 51–52; Islamic social finance of 83 (zakat and waqf) 52–53; Islamic Ledhem, M.A. 307 wealth management 51; measurement Lembaga Zakat Selangor (LZS) 53 tool 54; operational measurement Lemonade Stand 183 concept 46, 47; others (non-financial Lennox, R. 289 industry) 53–54; principle of Libyan universities 20 obtaining benefit and avoiding harm Likert method 327 53; Shari’ah for 43 Likert scale 329–330 Maqasid al-Shari’ah-based methodology linear regression model (OLS method) 251 260–262 Maqasid-based methodology 242–245; linear structural relationship (LISREL) harmonization 250–252; issues in model 287–288, 291 adopting mainstream techniques Linstone, A. 330 248–250; mainstream techniques liquidity 308 247–248; Maqasid al-Shari’ah and its liquidity facility 50 role 245–247 logical positivism 243 Maqasid-Based Performance Evaluation logistic regression 306–307, 307 Model (MPEM) 47–48; dimensions, logit and probit models 264–267 element, and measurement 48 Lubis, D. 148 Maqsada 245 Mach, Ernst 243 Marmara University 21 machine learning 241 Masjid economic management program mafsadah 50, 63 148 Mahomedy, Abdulkader 58 maslahah 45, 50, 63 maslahah diniyyah 122 370

INDEX maslahah mursalah 63–64 Muslim-friendly hotels 53 Master of Comparative Laws (MCL) 78 Muslim-friendly travel 29 mathematization of economics 61 Muslim investors 5 maysir 42 mutāwatir 100 mean importance score (MIS) 216 muzaki (zakat payer) 53 mean satisfaction score (MSS) 216 muzaki in Jambi Province 53 Mecca 7; Darul Arqam 7–8; halaqah 8 nafs 349 media and recreation 5 narrower specialization 242–243 Medieval phase 8–9 nasl 349 Medina 7; Nabawi Mosque 8 naṣṣ 101 Mekidiche, M. 307 Nasution, A. 148 memorization method 8–9 national accounting standards in Islamic Merdeka Campus 139–140, 149 Mergaliyev, A. 44, 248 financing practicing countries 355–358 methodological challenges of teaching National Higher Education Islamic finance 152–155; analysis Accreditation Board (BAN-PT) 11 159–161; curriculum 155–157; talent National Kazakh University of development 157–158 micro-econometric literature 276 Al-Farabi 21 microfinance institutions 42 naturalia 93 micro-small enterprises (MSEs) 328 Nave’s Topical Index 240 Microsoft Form 193 Nawāzil in Islamic finance Microsoft Teams 182, 184 Migdad, A.M. 320 105–106 mind mapping (MM) 139 neoclassical economic theory 37 Mit Ghamr Bank 42 neural networks 306–307, 307 mixed method research design 319–320 Noh, M.S.M 50 modest fashion 5, 29 non-bank Islamic financial institutions Mohammed, M.O. 46–48 Mohammed, W.S. 321 42 monetary policy transmission Noordin, K. 320 mechanism (MPTM) 340 note writing (ta’liqat) 115 Monica, J. 211 Nujaym, Ibn 97 monodisciplinary styles 242 null hypothesis 275 Monte Carlo simulation 323 Nurzaman, M.S. 148 moral law 234 Omdurman University in Sudan 18 moving average (MA) model 267 online classroom 181 mu’āmalāt 100 online learning programs 143 Mu’āmalāt Interactive Game 156 opportunity: development of Islamic Mudharabah investment model 305 Muhamalat 313 economics and finance educational Muhammad, Haji 327 and research institutions 36; mujtahids 64, 95 potential human resources 36; rapid multicriteria decision making (MCDM) development of 36 research method 292 ordinary least squares (OLS) method Munzarah Method (debate) 9 309 Murasalah Method (correspondence) 9 organizational management 33 Musharakah Mutanaqisah Partnership Organization of Islamic Cooperation (MMP) 353 (OIC) 9, 65, 137 Musharaqah Mutanaqisah 318 organizations for Islamic financial Muslim customers’ behavior 341 institutions (AAOIFI) 304 Muslim educationalists 131 others (non-financial industry) 53–54 Muslim Friendly Hospitality Services Outlook Calendar 188 Requirements 54 overall efficiency (OE) 342 panel data method 276–279 partial least squares SEM 288 371

INDEX Pavlov’s experimentations 115 Quran Surah al-Baqarah 137 pedagogical methodologies in teaching Quraysh 8 Rafah Center for Islamic Business 19 Islamic economics 113–114; Rafikov, I. 245 autodidactic or independent group Rahman, K. 319 work 125–127; critically reflective Rammal, H.G. 351 pedagogy 117–118; group research al-Rashidun, Al-Khulafa’ 8 interactive teaching (GRIT) 118; Rasulullah SAW 43 Islamic pedagogical paradigm 114– reading method in front of teachers 9 117; pedagogical teaching illustration real economy toward financial economy, 119–124; reflections on pedagogical approaches 129–133; scaffolding shift from 90–91; Dhannī 101–105; 127–129 emergence of financial economy pedagogical teaching illustration 91–92; ‘illah, methods of determining 119–124 98–100; impact of 92–94; Nawāzil in pension funds 42 Islamic finance 105–106; Qaṭ’ ī 101– Permata, A. 148 105; Qawaid Fiqhiyya 94–98; Qiyās Pesaran, M.H. 275 in Fiqh al-Mu’amalat 98–100; ‘Urf pharma and cosmetics 5 in Fiqh al-Mu’āmalāt 100–101; Usūl PLATO (Programmed Logic for al-Fiqh 94–98, 106–109 Automatic Teaching Operations) reflection (tadabbur) 115 183 regression coefficient 286 poverty 29 religious education 9 Problem-Based Learning (PBL) 153 religious teaching 229 professional shariah audit training remembrance (tadhakkur) 115 program 166–168 research and development (R&D)-based profit-loss-sharing (PLS) 236 education 147 programs and courses 24 research gaps 358 project-based learning (PBL) 11–13, 139 research grants 37 Prophet Muhammad 8, 43, 97, 114 research methodology 31 pseudo-ijma’ 66 research topics applied in Islamic qā’idah 106 economics and finance 31–32 Qarāfi 97 ribā 42, 92–93, 152; prohibition 45 qard 29 Ricardo, David 69 Qard hasan 318 Rigdon, D.D. 291 Qaṭ’ ī 101–105 Rihlah ‘Ilmiyyah Method (scientific qaṭ’ī al-thubūt 101, 103 adventure) 9 Qawa’id al-Fiqhiyyah 77, 93–98, 103, risk management 32 106–109 Rizaldi, D.R. 211 Qayyim approach 52 Roberts, B.E. 319 QISMUT 152 Rogoff, Kenneth 236 Qiyās 63, 94, 103; in Fiqh al-Mu’amalat Russell, B. 243 98–100 Saaty, Thomas L. 292 QS Global World Ranking University Sabahattin Zaim University 21 list 6, 7 Sabirzyanov, R. 51 qualitative method 256–258 sad al-zara’i 50 qualitative research design 316–317 sadaqah 29, 148 quantitative research design 34, 318–319 Sadd al-Dharā’i 94 quantum computing 310 Sahih al-Muslim 137 question and answer 8 Sakariyau, O.B. 355 Qur’an 26, 34, 62–63, 68, 94, 103, 245 Sakarya University 21 Quranic principles 229 Salami, M.A. 319, 352 Qur’anic terms 26 372

INDEX Salam Standard 54 simultaneous equation model (2SLS Saleem, Muhammad Yusuf method) 262–264 251 Skinner, B.F. 115 Samidi, S. 148 Skype 184, 194, 210 Sarea, A. 352 smart techniques in Qur’anic principles Saribas, Hakan 59 scaffolding 127–129 229; AI and big data 240–241; Schumpeter, Joseph A. 113 common methodology 237–240; SCL, PBL, and MM in teaching current perception 229–231; economic taxonomy 235–237; globalized polar 137–138; conducting research or world 234–235; words of wisdom being a research assistant 142–143; 231–234 entrepreneurial activities 146–147; Smith, Adam 69 evaluation 149–150; humanitarian social distancing 164 project 145–146; independent study social science 62 or project 147; internship or working social welfare 233 experience 144–145; justified model Sodaqah 318 140–141; methods of application soft modeling 288 141–149; practical solutions S&P 500 Index 269 138–140; student exchange spectrum of research 258 143–144; teaching assistant in an spiritual value of research methodology education unit 141–142; village or 34 regional empowerment (VE) standard methodology for research 147–149 in IEF 255–256, 327–329; scriptural Bible studies 240 ARMA/ARIMA model 267–269; secularization in education 9 autoregressive distributed lag (ARDL) Seif I. Tag el-Din 59 273–275; challenges in 327–346, Sejahtera Academic Framework (SAF) 349–360; content analysis 258–260; 72 cross section data method 260–262; Sekaran’s operationalization method 46 data envelopment analysis 342–346; self-fulfillment 234 Delphi-ANP method 337–339; SEM. see structural equation modeling Delphi-Likert method 333–335; (SEM) Delphi method 330–333; Delphi- seminars 84–85 SEM method 335–337; differences in sensitivity to market risk 308 Islamic finance research 359; dynamic sharia-based courses 36 panel data 278–279; econometrics Shari’ah: adoption of 22; audit modeling and conventional worldview 166; audit planning and program interpretation 355; error correction knowledge and skills 175; audit model (ECM) 272–273; Islamic training program 170; earning, finance research, challenges faced by purposes of 25; and economic 352–353; Islamic finance researchers dimensions 24; faculty member with 355; Islamic scholars and contextual Shari’ah background 25; financial understanding 353–354; Likert scale transactions 23; governance 50; 329–330; logit and probit models materials 25; non-compliance risk 264–267; modified conventional 52; objectives of 44; prohibition 50; theory 339–342; national accounting rulings 349; student’s background 27 standards in Islamic financing Shari’ah advisory council (SAC) 46 practicing countries 355–358; panel Shari’ah committees (SC) of Islamic data method 276–279; qualitative financial institutions 46 method 256–258; research gaps 358; Shariah-compliant gold instruments simultaneous equation model (2SLS 327 method) 262–264; static panel data Shin, R.J. 275 276–277; time series multivariate Shir’ah 245 method 272–275; time series 373

INDEX univariate method 267–271; volatility Tanqīh Al-Manāṭ 98 model 269–271 taqlid (imitation) 116 State of the Global Islamic Economic tarbiya 115, 117 Report 5 Tat, M. 32 static panel data 276–277 Tawarruq 320 Statistical, Economic and Social tawātur 103 Research and Training Centre for tawhid 117, 315, 324; epistemology 320; Islamic Countries (SESRIC) 137 stochastic frontier approach worldview 116 (SFA) 342 Taymiyah, Ibn Salam Ibn 113 strength: justification from Islamic Taymiyya, Ibn 97 jurisprudence 34; methods applied taysīr, principle of 93 34–35; spiritual value 34 teacher-centered method 203 structural equation modeling (SEM) teacher-centered teaching 153 53, 282, 283, 287–290, 327; analysis teaching courses identification and of results 291; fitness test 291; model estimation 291; model identification balance 25 290–291; model re-specification teaching methodology and technique in 291; model specification 290; research, steps of SEM 290; learning IEF 14 survey 291 teaching theories 154 ST strategy 33–34 technical efficiency (TE) 328 student-centered approach 22 technology acceptance model (TAM) student-centered learning (SCL) 138–139 student-centered teaching 153–154, 328, 341, 341–342 159–162 teleconferencing 181 study program (SP) 143 textbooks and scientific books 24 Sufian, F. 328 TGARCH (p,q) model 271 sukuk 50 Thaalibiya High School in Algiers 18 sukuk ijarah structure 46, 50 Theologies of the Digital Project 240 Sunnah 26, 62–63, 68, 94, 103, 245 theory building in Islamic economics Sunnah of Allah 59 Super Decisions 292, 295–296 and finance 256 sustainable development goals (SDGs) theory of efficiency 343, 343 29, 53, 73 thick frontier approach (TFA) 342 sustainable development in Islamic threat: criticisms from economists 37; economics 6 SWOT analysis 32–34, 40; characteristics lack of research grants 37 32–33; components of 32; defined threshold generalized autoregressive 32–33; exteral factors 35–37; internal factors 34–35; SWOT matrix 33, 38; conditional heteroscedasticity see also opportunity; strength; threat; (TGARCH) model 270 weakness time series multivariate method 272–275 Syatibi approach 52 time series univariate method 267–271 Tiorida, E. 212 travel and media 29 Treasury of Scripture Knowledge 240 tri-perspective holistic approach 161, 161 t-test 217–218 Turk-Ariss, R. 360 Turoff, M. 330 ta’abbudī 100 Ulil Albaab 137 tahdhib al-fard 46 Umayyad period 8 Taḥqīq al-manāṭ 98–100 ummah 43 Taimiah, Ibn 232 Umm Al-Qura University in Taimiyah approach 52 Takāful (Islamic insurance) 19, 108–109, Makkah 19 understanding (tafaqquh) 115 304–306, 317 United Kingdom (UK) 13; IEF Takhrīj Al-Manāṭ 98 education providers 14; International 374

INDEX Association for Islamic Economics Zaharah, Abu 46, 48 13; universities providing Islamic Zakariyah, L. 46 education 14 zakat 26, 29, 43, 52, 62, 148, 318; funds University of Tripoli 20 ‘Urf 94 65; institutions 53 ‘Urf in Fiqh al-Mu’āmalāt 100–101 zamān 248–249; principle of 93 Usmani, Mufti Taqi 95 Ẓannī 102–103 Uṣūl 92 ẓannī al-dalālah 103 Uṣūl al-fiqh 60, 62–64, 68, 78, 90–91, ẓannī al-thubūt 104 93–98, 103, 106–109; application 50; Zarkashi, M.B. 102 mastery 50 Zarqa 250 vector autoregression (VAR) 282–287, zero-sum games 237 283, 286, 328 Zoom application 181–182, 210; vector error correction model (VECM) 285–287, 328, 341 accessories for safety and privacy 193– video conferencing 198 194; challenges 190–192; chat room village or regional empowerment (VE) platform feature 186; co-annotation 147–149 and remote control 186; devices and volatility model 269–271 digital awareness 192; easy and ad Waheed, K. 321 hoc planning for meetings 188–189; Wahhab, Abdul 94 e-learning 183–184; features 184–185; Wakalah insurance model 304 free basic package for 100 participants Wakalah model 304 189; impacts, cases of selected Wakalah Mudharabah model 305 192–193; interactive features for easy Waqf 29, 52, 148, 230, 318 meetings or classes 189; internet Waqf model 305, 305–306 connection 191–192; merits 187–188; weakness: domination of conventional one-click notification or invitation link theory 35; lack of research topics 35; 189; participants manage features 185; lack of secondary data 35 polling quiz feature 186; privacy and Webber, Max 62 technical issues 190; raise hand feature web conferencing 198 185; screen and application sharing webinars 188, 198 185; simple to use 188; supervisor Web of Science (WoS) 317 involvement 190; teaching and Wehmiller, Barry 235 learning through 186–187; telephone weighted factor (WF) 216 option for audio 189; video recording weighted score (WS) 216 option 189; whiteboard feature 185 Weill, L. 360 Zoom application, teaching and learning Western education system 9 IEF 196–197; classroom management WhatsApp 187 202; clear and shared outcomes 201; Wooldridge, J.M. 262 complex thinking, stimulation of 201; words of wisdom 231–234 concerns and limitations 198–199; World Bank Group 314 content-focused method 203; fostering World Population Review 36 a universal learning community WT strategy 34 206–207; framework to guide 206; yamhaqu Allah al-riba 64 impact analysis 199–200; importance Yarmouk University 20 of learning from Islamic perspective Yasin, F.M. 349 196–197; inclusivity 202; interactive Youssef, M.A. 315 or participative method 203–205; Yunus, Muhammad 255 learner-centered method 203; learning Yusuf, Abu 113 environment 200–201; learning from historic Islamic perspective 197–198; motivation 202; philosophy 202; policy recommendations for governments and educational institutes 205–206; practice and 375

INDEX feedback 201; think-pair-share 202– 218–220; determining weighted score 203; varied content and methods of (WS) 217; gap analysis 215–216, instruction 201 222–223; importance performance Zoom bombing 191 analysis (IPA) 213–215, 220–222; t-test Zoom cloud meeting, impact analysis 217–218, 223–224 of teaching and learning IEF 210; Zoom video communications 210 CSI calculation 217, 223; customer Zubairu, U.M. 355 satisfaction index 216; data and Zulm 317 variables 212–213; demographic zWarDIal tool 191 characteristics of respondents 376