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All Journal Jurnal Perspektif Pembiayaan dan Pembangunan Daerah
Ibrahim Mohammed Lawal
Department of Economics, Faculty of Social Sciences, University of Maiduguri Bama Road, Maiduguri, Borno State, Nigeria
Economics, Econometrics & Finance

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The role of Islamic social finance towards alleviating the humanitarian crisis in North-East Nigeria Ibrahim Mohammed Lawal; Jiddah M.A. Ajayi
Jurnal Perspektif Pembiayaan dan Pembangunan Daerah Vol. 6 No. 5 (2019): Jurnal Perspektif Pembiayaan dan Pembangunan Daerah
Publisher : Program Magister Ilmu Ekonomi Pascasarjana Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (716.026 KB) | DOI: 10.22437/ppd.v6i5.6508

Abstract

This paper seeks to examine the role of Islamic social finance towards alleviating the humanitarian crisis in North East Nigeria. The paper revealed the various conceptual definitions of Islamic social finance, its various instruments, update on humanitarian situation. A modified revenue function model was adopted. The study revealed that zakat potentials in Nigeria is estimated to be between USD 8,776.5-USD 21,160.99 million which is alone adequate to fill the humanitarian funding gap. More so, Sadaqah and Waqf was analyzed based on the number of active Telecoms line subscribers and the population statistics of citizens within the ages of 15-69yrs and that If N20 is paid weekly at a 5% level of cash collection error rate, a total amount of about N162b and N106b could be realized yearly respectively which can be used to bridge certain sectors of humanitarian needs in areas of housing, primary health care centres, water, food, empowerment etc. Likewise, the said funds can still be used for investment purposes in areas like mudaraba term deposit, sukuk, stock etc most especially funds realized from cash waqf. The study concluded that by adequately combining the Islamic social finance tools while adopting technology in its collection process & monitoring, it will effectively bridge the humanitarian funding gap as well as resettling and empowering the IDPs. The study recommends legislation of act setting up zakat/waqf, public awareness should be properly done, use of crowd funding approach
The suitability of cryptocurrency in the structure of Islamic banking and finance Ibrahim Mohammed Lawal
Jurnal Perspektif Pembiayaan dan Pembangunan Daerah Vol. 6 No. 6 (2019): Jurnal Perspektif Pembiayaan dan Pembangunan Daerah
Publisher : Program Magister Ilmu Ekonomi Pascasarjana Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (448.798 KB) | DOI: 10.22437/ppd.v6i6.6603

Abstract

This paper tends to examine cryptocurrency and its permissibility in the structure of Islamic banking finance. It identifies the major types of cryptocurrencies and also revealed its benefits. Despite these benefits and relating it to Islamic finance it was viewed from two angle; cryptocurrency and money in Islam and also cryptocurrency and the principles of Islamic finance. The study revealed it is compatible to structure of Islamic banking and finance when compared side by side to the features of fiat money which is currently in use. More so, the study clears some of the key issues like its legal tender, issuer unknown, money laundering & illicit purpose etc usually raised against cryptocurrency. The study concluded that cryptocurrency as an economic innovation has secured a pass mark to fit into the structure of Islamic banking and finance. The study further recommends that there is need to create standards guiding its operations, further ensure full disclosure on its transactions etc.
Co-Authors Jiddah M.A. Ajayi