Journal of Islamic Management Studies: Vol.5, No.2, 2022, pp.1-2, e-ISSN: 2600-7126
Editor-in-chief: Deputy Editor-in-Chief:
Professor Dr. Khaliq Ahmad Professor Emeritus Dr. Mohamed Sulaiman Associate Editor: Editorial Assistant:
Professor Dr. Rafikul Islam Dr. Mohamed Noordeen Mohamed Imtiyaz
Editorial Review Board
• Prof Emeritus Dr Mohamed Sulaiman (Formerly from IIUM/USM, Malaysia)
• Prof Dr Mohd Madi Abdullah (UNITAR, Malaysia)
• Prof Dr Faridah Hj Hassan (UiTM, Malaysia)
• Prof Syed Azizi Wafa (UMS, Malaysia)
• Prof Shukri Yazid (UNISZA, Malaysia)
• Dr Gholam Reza Zandi (University Kuala Lumpur, Malaysia)
• Dr Abdul Kadir Othman (UiTM, Malaysia)
• Dr Noorlida Jaafar (UiTM, Malaysia)
• Dr Sany Dwita (Padang State University, Indonesia)
• Dr Maimumah Mohd Shah (UiTM, Malaysia)
• Dr Isnurhadi (Universitas Sriwijaya, Inderalaya, OI, Sumatera Selatan, Indonesia)
• Dr Muhammad Sabbir Rahman (North South University, Bangladesh)
• Dr Muhammad Aftab Anwar (Eastern University, Bangladesh)
• Dr Omar Bhatti (Iqrar Islamic University, Pakistan)
• Dr Waqas Farooq (Lahore Muslim University, Pakistan)
• Dr Osman Abdulkerim Yussuf (Georgia, USA)
• Dr Azura Azhar (UPM, Malaysia)
• Dr Ali Salman (UKM, Malaysia)
• Dr Rita Zaharah Wan Chik (Universiti Kuala Lumpur, Malaysia)
• Dr Mohamad Hisyam Selamat (SEGi University, Malaysia)
• Dr Mohammad Hudaib (The Business School, University of Glasgow, UK)
• Dr Aimatul Yumna (Padang State University, Indonesia)
International Advisory Board
• Prof Dr Afzal Rahim (Northern Kentucky University, USA)
• Prof Dr Shafiqur Rahman (Portland State University, USA)
• Prof Dr Zahir Quraeshi (Western Michigan University, USA)
• Prof Dr Ali Dastmalchian (San Francisco, USA)
• Prof Dr Ali Alkahtani (King Abdul Aziz University, Saudi Arabia)
• Prof Dr Badia Perzade (Universitas Sriwijaya, Palembang, Indonesia)
• Prof Dr. Aliakbar Arabmazar (Shahid Behesti University, Iran)
• Dr Aminu Maman (University of Manchester, UK)
• Dr Islam Muhammad Salim (Raf International University, Kenya)
• Professor Dr Roszaini Haniffa (Heriot-Watt University, UK)
Journal of Islamic Management Studies: Vol.5, No.2, 2022, pp.1-2, e-ISSN: 2600-7126
Table of Contents
Editorial Note 1-2
ARTICLES
Influence of Ta’awun (Mutual Cooperation) and Sejahtera Leadership in 3-19 Sustaining Community Engagement
Suhaimi Mhd Sarif, Yusof Ismail, Rohaziah Yahya & Ashiqun Nabi
A Review of Contemporary Practices of Islamic Financial Institutions from 20-31 the Shariah Perspective
Mohamed Noordeen Mohamed Imtiyaz
Application of Zakat and Waqf as a Tool for Youth Empowerment in 32-46 North-Eastern Nigeria
Adamu A. Muhammad, Abubakar I. Talle, Ikilima A. Shariff & Muhammad Bello
History and Growth of Islamic Management Thought 47-57 Khaliq Ahmad
Book Review
Principles of Marketing from An Islamic Perspective 58-60 Khaliq Ahmad
Journal of Islamic Management Studies: Vol.5, No.2, 2022, pp.1-2, e-ISSN: 2600-7126 Editorial Notes
There are five contributions, four articles and one book review, to the second issue of Volume 5 of Islamic Management Studies. The focus is on Islamic Ta’awun (mutual cooperation) in community engagement and leadership, a review of contemporary practices of Islamic financial institutions from the shariah perspective and how can Islamic social finance such as zakat, sadaqah, waqf etc and their management can empower youth today. Besides the growth of Islamic management thought and book on Islamic marketing principles shed light on the betterment of Ummah. All the four papers expand the frontier of intellectual insights by offering methodological advancements and solutions to the contemporary challenges faced by either in conventional or Islamic perspectives of management studies. The book review contributes to the existing literature on the subject matter which are of high scientific as well as practical relevance in the field of marketing philosophy and theories as one of the important functional areas of Islamic management.
The first article elaborated the need for mutual cooperation as part of Islamic social contract which is ukhuwwah (good bonding) among people in the ummah (human society). Authors emphsised that Islam is beyond rituals because the religion is not just about specific activities in the mosques or specific activities during certain months like fasting and hajj. Islam is about Al-Deen (dynamic livelihood). Henceforth in managing livelihood with Islam, one needs to integrate five maqasid al-shariah (purpose of human existence), namely aqidah (faith), nafs (life), ‘aql (intellect), nasb (lineage), and mal (wealth). Therefore one needs to be comprehensive in his/her approach to study religion. This is beyond the rituals alone which no doubt constitutes spiritual aspects of the religion but it encompsses socio-economic, political and moral dimensions too and for which Ta’awun (mutual cooperation) in community engagement is a must.
The second article entitled, ‘review of contemporary practices of Islamic financial institutions from the shariah perspective” deals with analysis of contemporary practices of Islamic financial institutions. Author highlighted the certain critical issues and debates on the certain practices of Islamic financial institutions based upon the interviews of two experts who are currently practicing as shairah board members of leading Islamic banks in Malaysia. The interview data are thematically analysed and discussed in detailed about the issues. The opinions of the practitioners provide the challenges and issues faced by the industry where the dual banking or hybrid system is practised. The outcome of this paper addresses the certain critics and ongoing debates in practices of Islamic financial institutions.
The next article deals with the Islamic social financing to manage extremism in a society consists of poor people. Islam offers solution of fulfilling basic necessities, if ignored, will harm the peaceful living and if not attended to, it sometimes, causes birth and emergence of unhealthy elements in the form extremism, a challenge in modern day life of peaceful co-existence. This study has investigated the potential application
Journal of Islamic Management Studies: Vol.5, No.2, 2022, pp.1-2, e-ISSN: 2600-7126 of zakat and waqf as a tool for youth empowerment in north-eastern Nigeria. Both Zakat and Waqf are discussed along with the concept of empowerment, reducing the level of unemployment among Muslim youths in Nigeria's north-eastern states and the relevance of Zakat and Waqf fund for addressing the issue of Boko Haram etc.
The focus of the article entitled, ‘history and growth of Islamic management thoughts’
is an interesting read. Accordingly, the history of management knowledge is more than century old. In the beginning, emergence of theories such as the Scientific Management by F.W.Taylor after he focussed on motion, fatigue and time studies of workers gave initial insight into the organisational productivity in United States. This was followed by Henri Fayol in France and Max Webber in Germany as they provided Administrative Management process and Bureaucratic Approach in managing organisations which evolved around their theories respectively, were categorised as a classical management thought. Hawthorne experiment and introduction of human behaviours to workplace as human work better in a team added value to the management thought, followed by studies on the contemporary issues such as meritocracy, reward system etc. as and when they emerged. Nevertheless, the Islamic perspective of management is an emerging discipline which deals with the corporate governance and management of organizations from the perspective of the revealed knowledge of Quran and Hadith but includes knowledge acquired through varieties of sources and results in applications compatible with the Islamic values, rituals, beliefs and practices that exists in global Muslim communities due to shared values, which are Islamic worldview, encapsulates maqasid al-shariah (purpose of human existence), namely aqidah (faith), nafs (life), ‘aql (intellect), nasb (lineage), and mal (wealth).
Finally, the book review part concludes that Islam has a stronger influence and impact on the lifestyles of Muslim consumers. As the author of the book emphasized that Islamic economy is one of the fastest growing economies in the world that currently has 1.8 billion followers. This emerging economy estimated to be worth 3 trillion US dollars in 2021 with an average CAGR growth of 8%. Here, Halal food, cosmetics and clothing is the largest pillar, where Muslim spent more than US dollars1.17 trillion. The current figures per capita expenditure by able Muslim consumers encourages many market players to enter to this potential market segment. The book is worthy of reading by academics and practitioners alike.
This issue Vol. 5 number 2 of JIMS will be providing a good reading material. One is welcome to visit website of the World Academy of Islamic Management
<http://publications.waim.my/index.php/jims/manageIssues> to post comments and feedback to the editors, for future consideration and contribution of articles and paper by authors are welcome.
Professor Emeritus Dr. Mohamed Sulaiman Deputy Editor-in-Chief
