FACULTY OF ARTS
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Item Building sustainable peace for development among muslims and non-muslims in Bida emirate: an effective strategy for Nigeria(Department of Religious and Cultural Studies, Faculty Of Humanities, University Of Port Harcourt, 2010) Kareem, M. K.; Bukhari, K. O.While many parts of the world have experienced conflicts and war, Bida Emirate remains a cauldron of stability and peace. Many research works have examined causes and impacts of conflicts in many parts of the world and socio-political and economic activities in Nupe with scant attention to the causes of peaceful Operational environment in Bida Emirate. Therefore, this study examines the determinants of peace in the study area which is multi-religious and has different ethnic affiliations. The researchers used purposive sampling technique and conducted in depth interviews with the people at the helms of affairs in Bida Emirate such as Etsu Nupe, chief Imams, the leaders of Christian Association of Nigeria and ethnic groups, some individuals and law enforcement agents for their roles in achieving sustainable peace. The study revealed that Etsu Nupe used his position as the royal father to prevent, manage and settle conflicts and minor misunderstandings among his people before they degenerated into significant violence. Findings also showed that annual inter-sect gatherings in Etsu Nupe’s palace, dialogue, justice, tolerance, understanding of the Qur’an and the Sunnah of Prophet Muhammad (PBUH) and guidelines of Jamat Nasrul Islam on issues such assiting of central mosques and takfiir (calling a person an unbeliever) fasclitated sustainable peace there. Prevention is used to keep Bida Emirate safe from ethnoreligious and political conflicts; and this saves human and natural resources. Muslim and Christian preachers should intensify their preaching towards godliness, tolerance, patience, love of others and respect for elders and to one another.Item A comparative analysis of islamic and conventional cooperative societies: a study of Al-Ikhlas and University of Ibadan workers' cooperative investment and credit societies(Faculty of Arts, University of Ibadan, Ibadan, Nigeria, 2019) Kareem, M. K.The nature and performance of cooperative societies have encouraged different people to join different cooperatives. Existing studies have examined the impact of cooperatives on people and businesses with scant attention paid to the comparison between Islamic and conventional cooperatives and their financial statuses. A comparison of both is necessary to weigh the relative impact of each on their respective members. Therefore, this study compared Islamic and conventional cooperative societies, using Al-Ikhlas Cooperative Society and University of Ibadan Workers' Cooperative Investment and Credit Society (UI Workers' Cooperative) as a case study. Data comprised the audited annual financial statements of both cooperatives for the period of 5 years, 2014 to 2018. They were analysed, using ratio-based model, CAMEL (Capital, Asset, Management, Efficiency and Liquidity) and growth rate of share capital to measure their performance and operational efficiency. While UI Workers' Cooperative engages in different types of investments, including those prohibited by Sharî'ah, Al-Ikhlas invests only in products and services allowed in Sharî'ah. The net surplus growth rate of UI Workers' Cooperative (42.12%) was greater than that of Al-Ikhlas society (18.88%). At an average, Al-Ikhlas' capital adequacy ratio (3.65%), members' savings (18.94%) and Management efficiency ratio (91.22%) were higher than those of UI Workers' Cooperative of 2.17%, 7.91% and 59.78%, respectively. Al-Ikhlas is self-sustaining and growing despite avoiding investments prohibited Shariah. By implication, Islamic cooperatives tend to impact more on its members than do conventional cooperatives on its members.Item A comparative analysis of islamic and common laws of contract(Department of Religion and African Culture, Adekunle Ajasin University, Akungba-Akoko, 2019-12) Kareem, M. K.The role of contract in providing basis for man’s affairs in virtually all his endeavours such as spiritual, social, economic and political necessitates its discussion. Comparison between Islamic and Common laws of contract which many works have not been adequately covered becomes expedient for better understanding of our interactions and knowing the more virile that serves the people better. Therefore, this paper analyses and compares the main principles of Islamic and Common laws of contract from the points of view of their coverage and elements. Using inductive qualitative methodology to explore some conceptual frameworks of Islamic sources and textual analysis of the main texts of Islamic and Common laws, the paper found that the rules of Islamic law of contract are very similar to those of common law of contract in the areas of offer, acceptance, mutual consent, terms of contract, pacta sun servada (abiding by stipulation of contract) etc. Tadlīs (fraud), gharar (misinterpretation), etc render contract invalid in both laws. Caveat emptor and caveat venditor are more pronounced in Islamic law than common law. Contracts that involve an insane person during his lucid period, non-Sharī‘ah compliant products and services such as liquor, ribā (interest), gambling are null and void in Islamic law but they are allowed in common law. The paper concludes that the principles of contract are very similar under both laws though some differences exist in their details and applications. People should fulfil their contractual obligations to ensure peaceful coexistence, security, efficient and effective operation of businesses.Item On the meaning of ribā [interest] and its effect on the Nigerian economy(2017-09) Kareem, M. K.The role of financial intermediation in a modern capitalist system hinges mainly on the taking and charging interest. While some Islamic scholars consider interest to be lawful for Muslims to take or charge on their transactions, many Islamic scholars consider charging or taking interest to be non-shari’ah compliant. It is against this backdrop that the paper sets out to provide a correct articulation of the meaning of ribā [interest/usury], which is the foundation stone on which the conventional financial institutions are based and examines its effects on the Nigerian economy. Using information about the forms and structure of socio-economic transactions during al-Jahiliyyah (pre-Islamic) period in Makkah and during the Prophet’s time in Makkah and Madinah, we found that interest of all kinds is prohibited. The practice of interest payment in a modern capitalist economy is against the dictates of the Shari’ah. The article finds that debt servicing has badly affected the economic growth development of Nigeria. The article reveals a sharp increase in the amounts used to finance the country’s debt obligation. The debt servicing as a percentage of the capital expenditure has been increasing greatly since 2011 to till date. The percentage of debt servicing to capital expenditure in Nigeria from 1981 to 2015 has been very high for the country, with an average of over 59.0% under the 35 years considered in this study. In some years, this ratio was over 100.0% reaching its peak at 150.4% in 2003. In 2015, the ratio stood at 129.57%. This could account for low level of development in the country. The negative impact of debt servicing on the economy serves as a barrier to poverty alleviation, economic growth and development.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 Forest management practices from islamic perspective(The Department of Religious Studies, University of Ibadan, Ibadan, Nigeria., 2016-06) Kareem, M. K.Today, the world is facing the problem of global warming and other environmental crises and malaises; and the effect of these phenomena has serious implications on the survival of man. Many researchers have looked at the problem from different perspectives with a view to finding sustainable solutions. Not much attention has been given by both Muslims and non-Muslims to the Islamic directives on forest management, one of the ways by which the global warming and other environmental crises can be abated. It is against this backdrop that the paper aims at examining the Islamic directives on forest management. A descriptive approach and textual analysis of the Qur’an and the Sunnah were adopted in carrying out this research. The study finds that taking care of the environment is tantamount to good deeds, and as good as other acts stated in the Qur’an and the Sunnah. It shows the honour given to trees and environment. The paper presents how trees mop-up carbon dioxide, a green house gas, from the atmosphere and replenish the oxygen content to give man clean air; fix atmospheric nitrogen to rejuvenate the soil; reduce use of inorganic nitrogen fertilizer and emission of nitrous oxide (N2O). It is against Islamic teachings to cut trees or abuse forests without genuine reason. Therefore, adoption of the teachings of Islam in the areas of forest management can go a long way in changing peoples’ attitude positively towards its use and sustainability.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 Implication of islamic finance for Nigeria’s economic diversification through enhanced financial inclusion(The Nigerian Economic Society, Department of Economics, University of Ibadan, Nigeria, 2016) Kareem, M. K.; Oladapo, M. A; Omotosho, K. M.This study empirically investigated the effects of financial inclusion on diversification from the perspective of Islamic finance. The analysis focused on eight Muslim countries with established Islamic financial and banking system, seven Muslim countries with no established Islamic financial and banking system and top eight countries in term of nominal GDP using IMF 2015 data. This provided a comparative analysis of the effects of financial inclusion on diversification in each of these groups of countries. Panel regression technique was used and the Herfindahl concentration index was computed and used to measure the degree of diversification to achieve the study objective. The results revealed, among others, that the economies of the countries with established Islamic financial and banking system were less diversified, as the number of Automated Teller Machines (ATMs) per 10,000km2 increased; but became more diversified as commercial bank branches per 1,000km2 and other deposit takers increased; countries with no established Islamic financial and banking systems became less diversified as the number of commercial bank branches per 1,000km2 increased, while they became more diversified as the number of other deposit takers rose. The study thus recommended, among others, that Nigeria should diversify its finance by utilizing Islamic financial products as viable sources of funding for sectors, such as agriculture, mining, manufacturing, and constructionItem Time value of money and the chronological revelations on riba in the quran(Department of Religious Studies, Obafemi Awolowo University, Ile-Ife, Nigeria, 2016) Kareem, M. K.While some Scholars are of the view that Islam permits simple interest but frowns at compound interest due to time value of money, many consider both to be prohibited. It is against this backdrop that the paper examines and interprets the meaning of the word riba in the contexts in which they are used in the four places in the Qur’an and the Hadith. Using the analysis in these sources, the study finds that ad'afan mudd ‘afah in Q3:130 means a continual increment which could lead to the doubling and re-doubling of the original capital against confining it to compound interest. Our analysis shows that the usury that was forbidden for the Jews was the same with the usury of the pre-Islamic period that was banned for Muslims. It is noted that the Qur’an (Q2:278-279) prohibits all forms of riba, simple or compound, at the beginning of the contract or at the due date. The paper reveals that Islam does not attach value with time. Spot market where commodity and price are exchanged simultaneously is in line with the dictates of Islam. However, it is allowed to postpone delivery of commodity or price. Both cannot be delayed. Our analysis shows that if the same commodity is being exchanged, there should be equality in quantity and prompt delivery. By making the quantity equal, the quality has been ignored. If the quality is to be considered, both the qualities need to be converted into money and exchanged at market prices. If the commodities being exchanged are different, then there should be prompt delivery. Keywords: Riba, time value of money, Qur’an, Hadith, interest.Item The role of central banks in financial inclusion and sustainable development: comparative analysis of Islamic and conventional banking environments(Department of Religion and African Culture, Adekunle Ajasin University, Akungba-Akoko, 2018-12) Kareem, M. K.; Bankole, A. S.Several findings established the importance of Islamic finance through the removal of collateral and the payment of interest that are features of conventional banking in guaranteeing increased financial inclusion, economic growth and diversification, poverty alleviation!, enhanced efficiency of intermediation and increase income per worker, among others. Financial exclusion is attributed to religion, economic inequality, culture, geography and structure of the economy, lack of access to loans, deposit services, insurance, pension, and financial illiteracy. Therefore, this paper examines the roles of central banks in creating financial inclusion in conventional and Islamic banking environments with a view to drawing important lessons for economies struggling with challenges of financial inclusion in multi religious states like Nigeria. The paper uses comparative contextualization and analyses trends of financial inclusion indicators as outcomes of central bank policy design and implementation strategies in these different paradigms to draw inferences of efficiency and effectiveness. The paper posits that Central Banks in Islamic banking environments which imbibe and actively implement financial inclusion strategies generate better outcomes relating to access to loans, deposit services, insurance, pension, and financial literacy.