aminahz

I was making a paper assignment about standardization for diversity of Shariah Rules especially for Islamic Finance.  I think it’s great to share why there is a diversity in Islamic Shariah Rules , I just put the introduction ok 🙂 (it will be too long to publish in here):

Introduction

Diversity in Shariah rules is mean to be different legal understanding given by madhahib school which have interpreted the Shariah in the light of the needs and realities of their time. but this level of plurality does not alter the fact that there is only one Shariah , which is manifested in the clear textual injunctions of the Qur’an and Sunnah. (Dr. Muhammed Hashim Kamali, 1998) From a study of Usul fiqh, we come to know the methods of different Imam’s principles in interpretations of the Quran and Sunnah. Law touches a very deep level of human existence such as one we will discuss is financial transactions which from an Islamic perspective is referred to as fiqh muamalat, that branch of Islamic jurisprudence that is concerned with commerce and other economic activities.

to be continue : the need for the standardization

I am not realized that there were lot of moslem scientist who found great theory before West did, until now. One of my favourite scientist is Ibnu Khaldun

Born in North Africa in present-day Tunisia, on May 27, 1332 AD/732 AH – March 19, 1406 AD/808 AH). He was a North African polymath— an astronomer, economist, historian, Islamic jurist, Islamic lawyer, Islamic scholar, Islamic theologian, hafiz (remember all contect of Al Qur’an), mathematician, military strategist, nutritionist, philosopher, social scientist and statesman.

He is considered a forerunner of several social scientific disciplines: demography,cultural history, historiography, the philosophy of history and sociology. He is also considered one of the forerunners of modern economics, alongside the earlier Indian scholar Chanakya. Ibnu Khaldun is considered by many to be the father of a number of these disciplines, and of social sciences in general,for anticipating many elements of these disciplines centuries before they were founded in the West.

Ibnu Khaldun discovered a great number of fundamental economic notions a few centuries before their official births. He discovered the virtue and the necessity of a division of labour before Smith and the principle of labour value before Ricardo. He elaborated a theory of population before Malthus and insisted on the role of the state in the economy before Keyneys. But much more than that, Ibnu Khaldun used these concepts to build a coherent dinamics system in which the economic mechanism inexorably led economic activity to long term fluctuatio.(Boulokia, 1971)

Ibnu Khaldun has a wide range of discussions on economics including the subject value, division of labour, the price system, the law of supply and demand, consumption and production, money, capital formation, population growth, macroeconomics of taxation and public expenditure, trade cycles, agricultural, industry and trade, property and prosperity,

He is best known for his Muqaddimah (known as Prolegomenon in English), the first volume of his book on universal history, Kitab al-Ibar. He devoted to economics the fifth chapter of his significant word al Muqaddimah that defines  the  science  of  sociology,  its  scope,  and  analytical  tools.  He  used  it  as  an introduction  to  explain  the  virtues  of  studying  the  cultural  and  political  history  of humanmankind  in  a  seven  most  valuable  volumes.  howeover,  throughout  his  records  of history, he was always keen to analyze the economic factors that affect the rise and fall of  nations.

He  was  a  jurist,  a  judge  and  a  great  historian,  and  he  accepted  premises derived  from  observation  as  well  as  from  Divine  revelation  in  the  methodology  he proposed for the science he invented. Ibn Khaldun’s ideas were not absorbed by his society, nor were they carried forward by its future generations. It is our responsibility to continue his journey, right?.

taken from : http://en.wikipedia.org/wiki/Ibn_Khaldun & Journal of Relevance Definition and Methodology of Islamic Economics by DR. Monzer Kahf

These are some ethics mention in Ent/Etr300 – Fundamental of Islamic entrepreneurship :

• To prevent laziness
• To eradicate fear
• To search for legitimate ventures
• To avoid forbidden sources of income and property
• To show gratitude and thankfulness of whatever has been acquired
• To grow and develop capital and profit
• To diversify business ventures
• To avoid greediness
• To avoid malicious behavior
• To avoid squandering
• To avoid stinginess
• To pay alms (zakat)
• Trustworthy
• To pray consistently
• Tawakkal
• Patience
• Qana’ah

Principle of Business for Moslem :

• Love God and His commands more than your trade
• Be honest & truthful
• Keep one’s word
• Be humble in how you conduct your life
• Do not deal in fraud
• Do not bribe
• Deal justly

Example from Prophet Rasulullah S.A.W :

• Business is secondary when being called  for other form of crusade
• Avoid using influence for self interest
• Afraid of  accumulated wealth
• Leadership qualities in all aspects
• Practice moderate way of life

In Islamic Business, profit-making must always be balanced with the need to provide the consumers with efficient, reliable and courteous services, besides beneficial, good quality and reasonably priced goods.

This are features in Islamic Accounting :

• No different in terms of recording (double entry system)

• Clear distinction of Accounting Objectives i.e. religious obligation vs. commercial obligation (different significance of financial statements)

• Different users information need (legitimate and equitable transactions and wealth vs. maximization of wealth and economic consequences)

• Compliance with the principles and rules of Shari’ah

• Different Islamic contractual relationships (mudarabah instrument; murabahah etc.)

• Distinct accountability relationships (to Allah SWT and Ummah)

• Determination of zakat

Source : “Reporting For Islamic Financial Transaction” by DR. Noraini

Islamic accounting is a also tool, which enables Muslims to evaluate their own accountabilities to God (in respect of inter-human/environmental transactions)

Al Qur’an text as basic principle of Islamic Accounting:

Al-Baqarah 282: “O you who believe! When you deal with each other, in transactions involving future obligations in a fixed period of time, reduce them to writing, let a scribe write down faithfully as between the parties: let not the scribe refuse to write: as God has taught him, so let him write. Let him who incurs the liability (debtor) dictate, but let him fear his Lord God, and not diminish aught of what he owes. If the party liable (debtor) is mentally deficient, or weak, or unable himself to dictate, let his guardian dictate faithfully, and get two witnesses, out of your own men, and if they are not two men, then a man and two women, so that if one of them errs, the other can remind him….” The witnesses should not refuse when they are called on (for evidence). Disdain not to reduce to writing (your contract) for a future period, whether it be small or big: it is more just in the sight of God, more suitable as evidence, and more convenient to prevent doubts among yourselves. But if you carry out the transactions  on the spot there is no blame if you reduce it not to writing. But take witness whenever you make a commercial contract, and let neither the scribe nor witness suffer harm. If you do (such harm), it would be wickedness in you. So fear God; for it is God that teaches you. And God is well acquainted with all things”

Maqasid Al Shariah = Objectives of Shariah

Categorized to 3 Objectives –> The Necessities/Essentials (people depend on) , The Need (supporting interest to make smooth life), Complimentary ()

I want to focus on 5 fundamentals of necessities/ essentials,  :

1. Protection of Ad-Din

2. Protection of Life (Al Nafs)

3. Protection of Human Being (Nasl / Ird)

4. Protection of Intellect or Mind (Al-Aql)

5. Protection of Property (Al-Mal)

This fundamentals use for muslim priorities in do act.

Legal Maxim = established principle.

Legal Maxims plays an important place in Islamic law.They encapsulate concepts that can help jurist to understanding details of law.It helps to derive Islamic where explicit exist also ruling no law exists. The actual wordings of the maxims are occasionally taken from the Qur’an or Ahadith but are more often the work of leading jurists and mujtahid

We can use this principle if there is no ruling law exists. I assume as basic principle of Shariah.

The five leading Legal Maxims are:
1. Acts are judged by their Goals and purposes. (Al Umuru Bimakasidiha)
2. Certainty is not to be overruled by doubt. (Al yaqin la yuzal Bi al‐shaq)
3. Harm must be eliminated (Al Darar Yuzal)
4. Hardship begets facility. (Al Mashaqqah Tajlib Al Taysir)
5. Custom is basis of judgments. (Al‐Adah Muhakkamah)

I take this from Ent/Etr300-Fundamentals Of Islamic Economy as my guidance being an Entrepreneur 😀

8 Principles of Islamic Entrepreneurship :

1. Entrepreneurship is an integral parts of Islamic religion.
2. By virtue of human nature ,  the Moslem entrepreneurs are  ‘khalifah’ and have the responsibilities develop prosperity and sees business as part of ibadah or good deed.
3. Motivation – success in Islam is not merely measured by the end result but also the way and means of achieving them.
4. Ibadah – business activity is part of ibadah or “good deed”
5. Position of  Entrepreneurship and business in Islam – Islam encouraged its ummah to venture into business . Prophet Muhammad S.A.W expounded that 9 out 10 source of rizque (income) can be found in business.
6. Islamic Economic System –  Islamic Entrepreneurship should operate within the domain of Islamic Economic system and act as the vehicle towards global acceptance of Islamic Economic System.
7. Guiding Principles of Islamic Entrepreneurship is by the al-Quran and al-Hadith
8. Entrepreneurial Ethics based on exemplary conducts of Prophet Muhammad S.A.W

Dear Scholar Hunter,

Don’t forget to attend : “2nd European Higher Education Fair”

this event will be held in Jakarta, 9-10 October 2010
at Kartika Expo Center – Balai Kartini
JL. Gatot Subroto, Kav 37

visitor’s note :  Open for Public – Free Entry.
Register to www.EHEFjakarta.org

Benefit :

* Meet 70 European Higher Education Institution
*We can give our application there 🙂

Just check www.EHEFjakarta.org , hope meet you there 😀

This article I made for you ” Scholar Searcher “, I just want to share my experience although I am not taking any graduate scholar yet :] (hope soon)

If we see some blog that listing scholarship information like :

• http://www.rumahbeasiswa.com/
• http://infobeasiswa.org/
• http://about-scholarship.com/
• http://www.infobeasiswa.net
• and many others

and not to forgot one of my favourite groups for scholar searching : groups.yahoo.com/groups/beasiswa

Generally, they will advise us to prepare :

• CV
• Statement of purpose
• Supporting essays (especially for Master of research/Phd)
• Graduation certificate & Transcript (in english)
• Evidence of English language ability in the form of a TOEFL or IELTS test (usually they ask for TOEFL score 550 & IELTS score 6/6.5 ).
• Recommendation/ Reference Letter
• Identity card (e.g passport, birth certificate, civilization identity card)

Some tips from me :

1. You should make an interactive CV
   You can make a different CV, like making your own design CV
   I use Europass CV (a standardize CV for Europe), you can download from here –> http://europass.cedefop.europa.eu/europass/home/vernav/Europass+Documents/Europass+CV.csp
2. We should take time when making Statement of Purpose Letter. Some things we should take notes are:

• what subject/skill we need to improve than we will know what course we want to take
• what the correlation between the subject and our work/undergraduate degree
• What have we made relating to this sector (it can be taken from our works or previous study)
• What we want to achieve by taking this course, e.g. improvement for some sector in institution we work, career development, etc
• Show our ability to convince them that we can accomplish the course

3.  Always prepare our document using English translationIf your campus doesn’t provide english translation for transcript & certificate, you will need a Sworn Translator. This can spend much money, to save some money it’s better for us to search for institution that provide English translation (first we should search it in campus, like BNLC in Binus)

4. TOEFL, for preparation you can learn from Longman books & download tutorial and practice from google.

Takes time to consider which TOEFL exam you want to take. Either (Computer-based Testing/CBT), (Internet-based Test/IBT) or (paper-based test atau PBT). you can read more in www.Wikipedia.org

Don’t spend too early for International TOEFL test, we can check the requirement for the scholar first. Usually, scholarship donatur institution don’t need official TOEFL, however the University need it. So, if they accept institutional TOEFL, we can search place that organize ETS (Educational Testing Service) TOEFL institutional test.

Different from TOEFL, IELTS doesn’t provide institutional test. It’s using british term & vocabulary rather than TOEFL that more “American”.

My experience : I have made wrong decision by taken TOEFL prediction test to get ADS Scholarship. Then I am taking IELTS preparation course in IALF, at 2007 and got 6 for the exam.

Note : IELTS/ TOEFL score valid for 2 years from the exam date. However we still can use them for Asian country

5. Reference Letter. Many scholarship donatur asking for reference letter from our Supervisor, Lecturer especially thesis supervisor or sometime they ask for someone that know us well.

My experience : I ask my thesis supervisor, he know me really well from my thesis and experiencing teaching me. He said I must ask someone that have Phd title. I am also asking the reference letter from my Supervisor. I am not recording the date for validity use.

That’s all about my experience. Since Graduated in June, 2006 I have tried

• 3 times for Australian Development Scholarship (which rejected in administration stage)
• 1 times for Westminster University, Information system Course
  (I got the Conditional offer letter from University but rejected for scholarship). From this I learn to make a good statement of purpose letter that reflect me.
• 1 times for DAAD,  for taking Higher Education Course in Kassel University, Germany
  (I passed the administration stage, but got apologize letter from the university because they must end the collaboration with DAAD)

Now, I am taking CIFP online for Islamic Economy subject in Inceif, Malaysia (www.inceif.net). I am proposing scholarship but they will conduct the scholars at the end of each semester. I am taking it to know better and contribute more in islamic business especially giving knowledge for trader how to take transaction in Shariah way.

Further, I still want to try ADB-Japan Scholarship (http://www.adb.org/jsp)  , Erasmus Mundus, NESO-Netherland. I have decided I really want to focus on information system & business.

Hope to hear your advice & sharing :D.  Thanks