Abu Umar Faruq Ahmad, M. Kabir Hassan
Abstract This article examines current legal and regulatory issues of Islamic banking in Bangladesh. The most important issue in this context is the lack of a well‐defined regulatory and supervisory framework for Islamic banks for their effective functioning in line with the tenets of Shariah. Other...
M. Kabir Hassan, Abu Umar Faruq Ahmad, Mamun Rashid
Bangladesh has the third largest Muslim population in the world after Indonesia and Pakistan. Higher demand of Islamic banking products and services requires existence of superior quality in service, efficiency in system, strict compliance to Islamic Shari`ah and satisfactory community service throu...
Abu Umar Faruq Ahmad, Auṣāf Aḥmad
Purpose The purpose of this paper is to contribute to the existing body of work in the area of Islamic microfinance by examining the co‐operative nature of Islamic financial services providers (IFSPs) in Australia. Design/methodology/approach The method employed in this study is a mixture of one of ...
Md. Kausar Alam, Abu Umar Faruq Ahmad, Aishath Muneeza
External Sharī‘ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Sharī‘ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Sharī‘ah compliance. This study principally aims to examine the relevancy ...
Abu Umar Faruq Ahmad, Mamunur Rashid, A. K. M. Shahed
Islāmic banking is growing at double digit rate annually. Bangladesh is the third largest Islāmic country in the world in terms of Muslim population. The Islāmic finance industry is growing in Bangladesh as well as its challenges and critiques. It is interesting research question to explore the dema...
Akther Uddin, Abu Umar Faruq Ahmad
Purpose This paper aims to compare and contrast the concept of conventional futures contract from the Islamic law of contract perspectives. The underlying theory and practice of Islamic finance is based on the principles of Islamic law of contract. Although the necessity of derivative instruments su...
Abu Umar Faruq Ahmad, Mohd Fazlul Karim
Saeeda Lubaba, Abu Umar Faruq Ahmad, Aishath Muneeza
Takaful is the Islamic version of insurance, and the size of global takaful industry is about USD$51 billion in 2019. Limited studies have been conducted on the development of takaful sector in Bangladesh and Indonesia using a comparative approach. As such, this review aims at investigating the chal...
Md. Kausar Alam, Abu Umar Faruq Ahmad, Aishath Muneeza, Mosab I. Tabash et al.
Purpose Sharīʿah Secretariat plays a significant role in assisting Sharīʿah Supervisory Boards (SSBs) in their role in achieving Sharīʿah compliance in Islamic banks (IBs). The key objective of the study is to develop a organizational framework of the Sharīʿah Secretariat for the IBs in Bangladesh. ...
Md. Habibur Rahman, Md. Faruk Abdullah, Muhammad Nazmul Hoque, Abu Umar Faruq Ahmad
Purpose This study aims to investigate and propose the potential practice of hibah al-ʿumra as a Shari‘ah-compliant policy that would encompass the disbursement of death benefits and facilitate their smooth distribution among the projected beneficiaries of the family Takāful. Design/methodology/appr...
Mohammad Sahabuddin, Abu Umar Faruq Ahmad, Md. Aminul Islam
Nasrin Huda, Farid Ahammad Sobhani, Abu Kholdun Al Mahmood, Abu Umar Faruq Ahmad et al.
Purpose – The purpose of this study is to examine the economic impact of COVID-19 and analyse how the corporate social responsibility (CSR) initiatives of Islami banks (IBs) can contribute to reducing the adverse economic impact in the context of Bangladesh. Design/Methodology/approach: Currently ei...
Abu Umar Faruq Ahmad, A. Muneezah
External Sharī‘ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Sharī‘ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Sharī‘ah compliance. This study principally aims to examine the relevancy ...
Md. Kausar Alam, Abu Umar Faruq Ahmad, Mezbah Uddin Ahmed, Md. Salah Uddin
Purpose The study explores the existing Shariah audit practice of Islamic banks (IBs) in Bangladesh aiming at providing suggestions for improvements on the detected shortfalls in the relevant areas. Design/methodology/approach This research applied a qualitative method, and data were collected throu...
Shafiqur Rahman, Abu Umar Faruq Ahmad
Abu Umar Faruq Ahmad, Muhammad Fazlul Karim
Shafiq Ur Rehman, Abu Umar Faruq Ahmad
Abu Umar Faruq Ahmad, A. K. M. Shahed
The purpose of this study is to examine the extent of divergence in the practice of Islamic housing finance from the Shari'ah in the Australian context. It presents a discursive analysis of the extent to which the Australian Islamic Financial Service Providers (IFSPs) differ from the traditional Sha...
Abu Umar Faruq Ahmad, Mohammad Sahabuddin
Islamic economics is an innovative phenomenon in the modern world. In many developed and developing countries, Islamic financial systems successfully work in parallel with their conventional peers. It is unfortunate that at the time when the world is suffering from a pandemic like COVID-19, the worl...