Arabic & Islamic Studies
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Item Operation of the bayt al-Māl in Saki: implications for poverty alleviation in Nigeria(2017-04) Kareem, M. K.; Adetoro, Y. A.Different researches have brought to the fore a number of remarkable contributions of the Bayt Al-Māl as a fiscal policy in the redistribution of wealth. In Nigeria, a few studies have been undertaken to evaluate the evolution and state of the Bayt Al-Māl. None of the studies however have undertaken an analysis of the operation and impact of the Bayt Al-Māl in the town of Saki as a mechanism for the redistribution of wealth. Therefore, this paper examines the activities and impact of Saki’s Bayt Al-Māl in meeting some of the growing needs of Muslims, including in the areas of poverty alleviation, education and health. The study reveals that Saki’s Bayt Al-Māl has recorded tremendous achievements in meeting some of the growing needs of Muslims and non- Muslims in the areas of health and education through the establishment of a Muslim School of Basic Midwifery, Muslim Medical Foundation, Muslim Hospital, and Muslim Primary and High Schools. The paper concludes that a sound Bayt Al- Māl is a necessary pre-condition for the pursuit of effective poverty alleviation measures. The paper recommends that Zakat should be one of its main sources of funding.Item Customers' awareness, attitude and patronage of islamic banking in Nigeria(International Institute of Advanced Islamic Studies, Malaysia, 2015-07) Kareem, M. K.This study examines customers’ awareness of Islamic banking products and services in Nigeria and explores their attitude towards them. It also investigates their patronage of the banks. An 18-item questionnaire was designed for businesspersons, Muslims and non-Muslims, to obtain information on issues such as awareness of Islamic banking, loans without interest, collateral security, agency, partnership based on sharing of profits and losses and patronage of an interest free financial system. The results show the willingness of the Muslims and a large number of non-Muslims to patronise Islamic banking products and services. Products and services offered by a large number of the respondents were sharī‘ah-compliant. Their readiness to give collateral security, which is neither compulsory nor against the dictates of Islam, indicates their attitude and preparedness to patronise Islamic banks. However, a few non-Muslim respondents state they will not patronise Islamic banking products even if they are profitable and they are the only products in the banking sector in Nigeria. This study will assist promoters of Islamic banks in Nigeria to know where they can establish full-fledged Islamic banks. There is need for the existing and the potential Islamic banks to create more public awareness on Islamic banks.Item Islamic banking and sharfah scholars in Nigeria(IUR Press, Rotterdam, Netherlands, 2016) Kareem, M. K.Compliance with Shari'ah rules is compulsory for all Islamic banks; and such compliance is monitored by Shari'ah scholars. Therefore, this article examines and gauges the level of understanding of Nigerian Shari'ah scholars (the custodians of Shari'ah rules in the country) and their perceptions of the Islamic banking and its rules particularly interest (riba). The survey method involving the use of purposive sampling was adopted to administer 1,040 copies of a questionnaire sent to Nigerian Shari'ah scholars, though some key people were also interviewed. The questionnaire, which contains 19 items, was designed to elicit information from them on issues such as their understanding of riba, its uses in the Qur'an, Islamic banking products, collateral security and promotion (promos). Our findings revealed that there were more respondents (917) who considered usury to be forbidden than those who considered (871) interest to be forbidden. A large number of Shari'ah scholars (93.6%) confused interest with usury which suggests that both interest and usury refer to riba. Some believed that riba (48.6%) only refers to usury, while most of the respondents (74.1%) opined that all forms of interest are prohibited. About 73.7%, 86.3%, and 27.6% of the respondents believed rahn (collateral security), innovating interest-free financial products and patronising conventional banks respectively were allowed. The Shari'ah scholars surveyed (64.7%) believed that conventional financial products can be made Shari’ah-compliant, banks can operate successively without interest (89%), and they (70.3%) were of the views that promotions done by the conventional banks are against the teachings of Islam considering the source of the funds used in their promotions which contains the accrued interest income and lack of fairness in the distributions of the promotions. Seminars, workshops, and conferences can be organized for the scholars with a view to training them in the areas of Islamic banking and finance. Collaboration can be established between the Nigerian Shari'ah scholars and the Shari'ah scholars from the Middle East so that the former can benefit from the wealth of experience of the latter in the areas of Islamic banking and finance.