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BLOG OF KNOWLEDGE (Shari'ah, Law, Islamic Finance and Muslim News)
Shari'ah, Law, Islamic Finance and Muslim News
Monthly Archives: January 2009
January 31, 2009
DR. ZULKIFLI HASAN
Speculation and uncertainty are the Devil
What is it with politicians and CDS?

Available at
http://ftalphaville.ft.com/blog/2009/01/29/51850/what-is-it-with-politicians-and-cds/
FT Alphaville does not believe credit default swaps are The Devil, but many politicians and a host of people who really should know better are convinced that the CDS market is the cause of all the world’s ills, and should be regulated out of existence – immediately. Take the draft bill proposed by Collin Peterson, chairman of the agriculture committee of the US House of Representatives. His bill would require all CDS trades to be processed by a clearing house; more significantly, it would ban “naked” CDS trading – i.e. any trades in which protection buyers did not own the underlying bond referenced by the contract. Naked CDS trades account for about 80 per cent of the market.
This approximates to requiring anyone who is trading in the oil market to be prepared to take physical delivery of barrels of oil, or, as professor Mark Williams of Boston University put it to Bloomberg:

Saying you only can trade if you have the physical is like saying you only can write calls if you own the underlying. Imagine what impact that would have on our existing options market if such a ‘naked’ rule was mandated.
ISDA, the de-facto voice of the industy, is less than impressed, as per this terse statement:

“This bill would increase the cost and reduce the availability of essential risk management tools while failing to address the true causes of the credit crisis,” said Eraj Shirvani, ISDA Chairman and Head of European and Pacific Credit Sales and Trading at Credit Suisse.” Throughout the crisis, credit default swaps have remained available and liquid. They have been the only means of hedging credit exposures or expressing a view at a critical time for the industry. Impairing their use would be counterproductive to efforts to return the credit markets to a healthy, functioning state.”Not even the lawyers like the proposal. Robert Claassen, who chairs the derivatives and structured products group at Paul Hastings in New York, finds it “difficult to understand where the House agricultural committee is coming from”:
To the extent the committee is concerned about speculation in CDS, they should consider giving the CFTC or the Federal Reserve Board the right to establish margin requirements for CDS exchange trades that are not ‘bona fide hedges’ or the like, similar to the rules governing futures contracts. But an outright ban? While they are at it, why not prohibit the writing of any call option that isn’t a covered call? Or perhaps prohibit anyone from owning a house unless they intend to live there … the possibilities are endless! The CDS market has become a whipping boy for politicians, policy makers and talking heads attempting to earn some populist credentials. Is it too much to ask that they also seek to understand the role of the markets they are so fond of vilifying?
Islamic finance news
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January 27, 2009
DR. ZULKIFLI HASAN
My Recent Publication
Assalamualaikum,
Dear Readers,
I am very grateful to share my recent publication in the International Review of Business Research, Volume 5 No.1, January 2009 entitled “Corporate Governance from Western and Islamic Perspective”. This piece is an improved version of a working paper presented in the Annual London Conference on Money, Economy and Management held at the Imperial College, London last year. This article is available at
http://www.bizresearchpapers.com/attachments_2009_01_13/23.Zulkipli.pdf
Enjoy Reading!
Best Regard

ZULKIFLI HASAN

DURHAM UNIVERSITY
My recent publication
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January 21, 2009
DR. ZULKIFLI HASAN
A True Story
By Ilan Pappe. Available at
http://www.lrb.co.uk/web/14/01/2009/papp01_.html
In 2004, the Israeli army began building a dummy Arab city in the Negev desert. It’s the size of a real city, with streets (all of them given names), mosques, public buildings and cars. Built at a cost of $45 million, this phantom city became a dummy Gaza in the winter of 2006, after Hizbullah fought Israel to a draw in the north, so that the IDF could prepare to fight a ‘better war’ against Hamas in the south.
When the Israeli Chief of General Staff Dan Halutz visited the site after the Lebanon war, he told the press that soldiers ‘were preparing for the scenario that will unfold in the dense neighbourhood of Gaza City’. A week into the bombardment of Gaza, Ehud Barak attended a rehearsal for the ground war. Foreign television crews filmed him as he watched ground troops conquer the dummy city, storming the empty houses and no doubt killing the ‘terrorists’ hiding in them.
‘Gaza is the problem,’ Levy Eshkol, then prime minister of Israel, said in June 1967. ‘I was there in 1956 and saw venomous snakes walking in the street. We should settle some of them in the Sinai, and hopefully the others will immigrate.’ Eshkol was discussing the fate of the newly occupied territories: he and his cabinet wanted the Gaza Strip, but not the people living in it.
Israelis often refer to Gaza as ‘Me’arat Nachashim’, a snake pit. Before the first intifada, when the Strip provided Tel Aviv with people to wash their dishes and clean their streets, Gazans were depicted more humanely. The ‘honeymoon’ ended during their first intifada, after a series of incidents in which a few of these employees stabbed their employers. The religious fervour that was said to have inspired these isolated attacks generated a wave of Islamophobic feeling in Israel, which led to the first enclosure of Gaza and the construction of an electric fence around it. Even after the 1993 Oslo Accords, Gaza remained sealed off from Israel, and was used merely as a pool of cheap labour; throughout the 1990s, ‘peace’ for Gaza meant its gradual transformation into a ghetto.
In 2000, Doron Almog, then the chief of the southern command, began policing the boundaries of Gaza: ‘We established observation points equipped with the best technology and our troops were allowed to fire at anyone reaching the fence at a distance of six kilometres,’ he boasted, suggesting that a similar policy be adopted for the West Bank. In the last two years alone, a hundred Palestinians have been killed by soldiers merely for getting too close to the fences. From 2000 until the current war broke out, Israeli forces killed three thousand Palestinians (634 children among them) in Gaza.
Between 1967 and 2005, Gaza’s land and water were plundered by Jewish settlers in Gush Katif at the expense of the local population. The price of peace and security for the Palestinians there was to give themselves up to imprisonment and colonisation. Since 2000, Gazans have chosen instead to resist in greater numbers and with greater force. It was not the kind of resistance the West approves of: it was Islamic and military. Its hallmark was the use of primitive Qassam rockets, which at first were fired mainly at the settlers in Katif. The presence of the settlers, however, made it hard for the Israeli army to retaliate with the brutality it uses against purely Palestinian targets. So the settlers were removed, not as part of a unilateral peace process as many argued at the time (to the point of suggesting that Ariel Sharon be awarded the Nobel peace prize), but rather to facilitate any subsequent military action against the Gaza Strip and to consolidate control of the West Bank.
After the disengagement from Gaza, Hamas took over, first in democratic elections, then in a pre-emptive coup staged to avert an American-backed takeover by Fatah. Meanwhile, Israeli border guards continued to kill anyone who came too close, and an economic blockade was imposed on the Strip. Hamas retaliated by firing missiles at Sderot, giving Israel a pretext to use its air force, artillery and gunships. Israel claimed to be shooting at ‘the launching areas of the missiles’, but in practice this meant anywhere and everywhere in Gaza. The casualties were high: in 2007 alone three hundred people were killed in Gaza, dozens of them children.
Israel justifies its conduct in Gaza as a part of the fight against terrorism, although it has itself violated every international law of war. Palestinians, it seems, can have no place inside historical Palestine unless they are willing to live without basic civil and human rights. They can be either second-class citizens inside the state of Israel, or inmates in the mega-prisons of the West Bank and the Gaza Strip. If they resist they are likely to be imprisoned without trial, or killed. This is Israel’s message.
Resistance in Palestine has always been based in villages and towns; where else could it come from? That is why Palestinian cities, towns and villages, dummy or real, have been depicted ever since the 1936 Arab revolt as ‘enemy bases’ in military plans and orders. Any retaliation or punitive action is bound to target civilians, among whom there may be a handful of people who are involved in active resistance against Israel. Haifa was treated as an enemy base in 1948, as was Jenin in 2002; now Beit Hanoun, Rafah and Gaza are regarded that way. When you have the firepower, and no moral inhibitions against massacring civilians, you get the situation we are now witnessing in Gaza.
But it is not only in military discourse that Palestinians are dehumanised. A similar process is at work in Jewish civil society in Israel, and it explains the massive support there for the carnage in Gaza. Palestinians have been so dehumanised by Israeli Jews – whether politicians, soldiers or ordinary citizens – that killing them comes naturally, as did expelling them in 1948, or imprisoning them in the Occupied Territories. The current Western response indicates that its political leaders fail to see the direct connection between the Zionist dehumanisation of the Palestinians and Israel’s barbarous policies in Gaza. There is a grave danger that, at the conclusion of ‘Operation Cast Lead’, Gaza itself will resemble the ghost town in the Negev.
Ilan Pappe is chair of the history department at the University of Exeter and co-director of the Exeter Centre for Ethno-Political Studies. The Ethnic Cleansing of Palestine came out in 2007.
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January 14, 2009
DR. ZULKIFLI HASAN
The United States Promotes Israeli Genocide Against the Palestinians
By Professor Francis A. Boyle. Available at:
http://www.informationclearinghouse.info/article21722.htm
As long ago as October 19, 2000, the then United Nations Human Rights Commission (now Council) condemned Israel for inflicting “war crimes” and “crimes against humanity” upon the Palestinian people, most of whom are Muslims. The reader has a general idea of what a war crime is, so I am not going to elaborate upon that term here.  But there are different degrees of heinousness for war crimes.  In particular are the more serious war crimes denominated “grave breaches” of the Fourth Geneva Convention.  Since the outbreak of the first Intifada in 1987, the world has seen those heinous war crimes inflicted every day by Israel against the Palestinian people living in occupied Palestine: e.g., willful killing of Palestinian civilians by the Israeli army and by Israel’s illegal paramilitary settlers.  These Israeli “grave breaches” of the Fourth Geneva Convention mandate universal prosecution for the perpetrators and their commanders, whether military or civilian, including and especially Israel’s political leaders.
But I want to focus for a moment on Israel’s “crimes against humanity” against the Palestinian people—as determined by the U.N. Human Rights Commission itself, set up pursuant to the requirements of the United Nations Charter.  What are “crimes against humanity”?  This concept goes all the way back to the Nuremberg Charter of 1945 for the trial of the major Nazi war criminals in Europe.  In the Nuremberg Charter of 1945, drafted by the United States Government, there was created and inserted a new type of international crime specifically intended to deal with the Nazi persecution of the Jewish people: Crimes against humanity: namely, murder, extermination, enslavement, deportation, and other inhumane acts committed against any civilian population, before or during the war, or persecutions on political, racial or religious grounds in execution of or in connection with any crime within the jurisdiction of the Tribunal, whether or not in violation of the domestic law of the country where perpetrated.
The paradigmatic example of “crimes against humanity” is what Hitler and the Nazis did to the Jewish people.  This is where the concept of “crimes against humanity” came from.  And this is what the U.N. Human Rights Commission determined that Israel is currently doing to the Palestinian people: crimes against humanity.  Expressed in legal terms, this is just like what Hitler and the Nazis did to the Jews.  That is the significance of the formal determination by the U.N. Human Rights Commission that Israel has inflicted “crimes against humanity” upon the Palestinian people.  The Commission chose this well-known and long-standing legal term of art quite carefully and deliberately based upon the evidence it had compiled.
Furthermore, the Nuremberg “crimes against humanity” are the historical and legal precursor to the international crime of genocide as defined by the 1948 Genocide Convention.   The theory here was that what Hitler and the Nazis did to the Jewish people was so horrific that it  required a special international treaty that would codify and universalize the Nuremberg concept of  “crimes against humanity.”  And that treaty ultimately became the 1948 Genocide Convention. Article II of the Genocide Convention defines the international crime of genocide in relevant part as follows:
In the present Convention, genocide means any of the following acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group as such: (a)  Killing members of the group; (b)  Causing serious bodily or mental harm to members of the group;(c)  Deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or in part. As documented by Israeli historian Ilan Pappe in his seminal book The Ethnic Cleansing of Palestine (2006), Israel’s genocidal policy against the Palestinians has been unremitting, extending from before the very foundation of the State of Israel in 1948, and is ongoing and even intensifying against the 1.5 million Palestinians living in Gaza.  Zionism’s “final solution” to Israel’s much touted “demographic threat” allegedly posed by the very existence of the Palestinians has always been genocide.
Certainly, Israel and its predecessors-in-law—the Zionist agencies, forces, and terrorist gangs—have committed genocide against the Palestinian people that actually started on or about 1948 and has continued apace until today in violation of Genocide Convention Articles II(a), (b), and (c).  For at least the past six decades, the Israeli government and its predecessors-in-law—the Zionist agencies, forces, and terrorist gangs—have ruthlessly implemented a systematic and comprehensive military, political, and economic campaign with the intent to destroy in substantial part the national, ethnical, racial, and different religious (Jews versus Muslims and Christians) group constituting the Palestinian people.  This Zionist/Israeli campaign has consisted of killing members of the Palestinian people in violation of Genocide Convention Article II(a).  This Zionist/Israeli campaign has also caused serious bodily and mental harm to the Palestinian people in violation of Genocide Convention Article II(b).  This Zionist/Israeli campaign has also deliberately inflicted on the Palestinian people conditions of life calculated to bring about their physical destruction in substantial part in violation of Article II(c) of the Genocide Convention.
Article I of the Genocide Convention requires all contracting parties such as the United States “to prevent and to punish” genocide.  Yet to the contrary, historically the “Jewish” state’s criminal conduct against the Palestinians has been financed, armed, equipped, supplied and politically supported by the “Christian” United States.  Although the United States is a founding sponsor of, and a contracting party to, both the Nuremberg Charter and the Genocide Convention, as well as the United Nations Charter, these legal facts have never made any difference to the United States when it comes to its blank-check support for Israel and their joint and severable criminal mistreatment of the Palestinians—truly the wretched of the earth!
The world has not yet heard even one word uttered by the United States and its NATO allies in favor of “humanitarian intervention” against Israel in order to protect the Palestinian people, let alone a “responsibility to protect” the Palestinians from Zionist/Israeli genocide.  The United States, its NATO allies, and the Great Powers on the U.N. Security Council would not even dispatch a U.N. Charter Chapter 6 monitoring force to help protect the Palestinians, let alone even contemplate any type of U.N. Charter Chapter 7 enforcement actions against Israel – shudder the thought!.  The doctrine of “humanitarian intervention” so readily espoused elsewhere when U.S. foreign policy goals are allegedly at stake has been clearly proved to be a joke and a fraud when it comes to stopping the ongoing and accelerating Israeli campaign of genocide against the Palestinian people.
Rather than rein in the Israelis—which would be possible just by turning off the funding pipeline—the United States government, the U.S. Congress, and U.S. taxpayers instead support the “Jewish” state to the tune of about 4 billion dollars per year, without whose munificence this instance of genocide – and indeed conceivably the State of Israel itself – would not be possible.  What the world witnesses here is (yet another) case of “dishumanitarian intervention” or “humanitarian extermination” by the United States and Israel against the Palestinians and Palestine.  In today’s world genocide pays so long as it is done at the behest of the United States and its de jure or de facto allies such as Israel. Of course miracles can always happen.  But I anticipate no fundamental change in America’s support for the Israeli campaign of genocide against the Palestinians during the tenure of the Obama/Clinton administration.
Best Regard

ZULKIFLI HASAN

DURHAM UNIVERSITY
Peace Demonstration for Palestine in Durham
Daily Vigil for Palestine Solidarity Campaign
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January 11, 2009
DR. ZULKIFLI HASAN
Islamic Finance News Award: Poll 2008
Quoted from Islamic Finance News. Available at:
http://www.islamicfinancenews.com
.
The fourth annual Islamic Finance news Poll results are in after a record-breaking 2,491 unique votes were cast by the Islamic fi nance industry’s leading practitioners and participants. In the financial sphere 2008 was deemed by many as an annus horribilis with the global markets plummeting due mainly to the US mortgage industry. The Islamic fi nance industry also succumbed to market forces but by and large fared better than its conventional counterparts.
What is clear, from the results of the 2008 Islamic Finance news Poll, is that the more focused and specialized Islamic financial institutions are favored to those of the larger global historically conventional institutions with Islamic operations. With 2,491 votes cast, this is the industry’s most comprehensive and definitive survey. In the Best Overall Islamic Bank category Kuwait Finance House again ran out easy favorite for the second year running. Malaysia’s CIMB Islamic climbed one place to second this year with Saudi Arabia’s Al Rajhi taking third spot. One notable absentee from this category is two-time winner and runner up in 2007, Dubai Islamic Bank.
As more of the world’s fi nancial centers announce their interest in attracting Islamic fi nance to their shores one would assume the Best Central Bank in Promoting Islamic Finance category would be more competitive. Not so. For the fourth straight year Bank Negara Malaysia was voted number one with more than double the votes of its nearest rival, the State Bank of Pakistan, which itself leapfrogged the Central Bank of Bahrain into second place.
In new categories for the 2008 Poll, BMB Islamic won Best Islamic Shariah Advisory Firm and KFH Research was voted best Islamic Research Firm. In a year when many banks collapsed or merged, the Islamic fi nance industry witnessed a number of new arrivals ensuring a hotly contested Best New Islamic Bank category, with the UK’s Gatehouse Bank scraping victory over Maybank Islamic, which was a close second.
In other categories Norton Rose climbed from second in 2007 to fi rst in the Best Law Firm in Islamic Finance, Moody’s Investors Service was voted Best Islamic Rating Agency, Path Solutions won Best Islamic Technology Provider, Oasis Asset Management was named Best Islamic Fund Manager and Takaful Ikhlas the Best Takaful/reTakaful Provider for 2008. In the Best Islamic Banks by Country category there were notable wins for MCCA (Australia), Faisal Islamic Bank (Egypt), Bank of London and The Middle East (UK) and Bank Muamalat Indonesia.
Methodology

A record 2,491 unique votes counted towards the fi nal results of the 2008 Islamic Finance news Poll, an increase of 66% over the votes cast in 2007. Thirty-six categories were contested in the 2008 poll, one more than the previous year. Islamic fi nance issuers, investors, non-banking fi nancial intermediaries and government bodies from around the world were invited to participate. Participants were requested to take only 2008 into consideration when casting their votes. All votes were screened and only those passing through the strict due diligence process were counted. (Voters could not vote for themselves or associated organizations, all votes were to be accompanied by a valid business email and telephone number and individuals could only vote once.)
Best Overall Islamic Bank

1st 2nd 3rd- Kuwait Finance House — 15% CIMB Islamic Bank — 8% Al Rajhi Bank — 6%
Best Central Bank in Promoting Islamic Finance

1st 2nd 3rd-Bank Negara Malaysia — 47% State Bank of Pakistan — 21% Central Bank of Bahrain — 19%
Best Islamic Bank by Country

Africa-ABSA, Australia- Muslim Community Co-operative (Australia), Bahrain-Bahrain Islamic Bank, Bangladesh-Islami Bank Bangladesh, Brunei -Bank Islam Brunei Darussalam, Egypt -aisal Islamic Bank, Europe- Bank of London and The Middle East, Indonesia- Bank Muamalat Indonesia, Iran-Bank Melli, Jordan- Jordan Islamic Bank, Kuwait-Kuwait Finance House, Malaysia-CIMB Islamic, North America-American Finance House — LARIBA, Pakistan- Meezan Bank, Qatar- Qatar Islamic Bank, Saudi Arabia- Al Rajhi Bank, Singapore-The Islamic Bank of Asia, Turkey-Albaraka Türk, UAE- Dubai Islamic Bank,
Categories

Best Islamic Retail- Bank Al Rajhi Bank

Best Islamic Private Bank-HSBC Amanah

Most Innovative Islamic Bank- Kuwait Finance House

Best New Islamic Bank- Gatehouse Bank

Best Islamic Consultancy -Ernst & Young

Best Islamic Wealth Management Provider- Dubai Islamic Bank

Best Islamic Shariah Advisory Firm -BMB Islamic

Best Islamic Research Company -KFH Research Ltd

Best Islamic Index Provider- Dow Jones Islamic Market Indexes

Best Law Firm in Islamic Finance -Norton Rose

Best Islamic Leasing Provider – First Leasing Bank

Best Islamic Ratings Agency- Moody’s Investors Service

Best Islamic Takaful/reTakaful Provider- Takaful Ikhlas

Best Islamic Fund Manager- Oasis Asset Management

Best Islamic Technology Provider -Path Solutions
Best Regard

ZULKIFLI HASAN

DURHAM UNIVERSITY
Dubai, UAE
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Islamic Law of Islamic Law of

Banking and Banking and TakafulTakaful

LAB3073LAB3073

DR. ZULKIFLI HASANDR. ZULKIFLI HASAN

IntroductionIntroduction
� Ibn Khaldun:

� “The strength of the sovereign (al-mulk) does not become
consumed except by implementation of the Shari’ah;

� The Shari’ah cannot be implemented except by a sovereign
(al-mulk);

� The sovereign cannot gain strength except through the
people (al-rijal);

� The people cannot be sustained except by wealth (al-mal);

� Wealth cannot be acquired except through development
(al-‘imarah);

� Development cannot be attained except through justice (al-
‘adl);

� Justice is the criterion (al-mizan) by which God will
evaluate mankind; and

� The sovereign is charged with the responsibility of
actualising justice”

ContentContent

�� Islamic Economic and Islamic FinanceIslamic Economic and Islamic Finance

�� Overview of Modern financial management Overview of Modern financial management

of banking, capital market, insurance, of banking, capital market, insurance,

securities.securities.

�� The development of Islamic financeThe development of Islamic finance

�� Islamic finance in MalaysiaIslamic finance in Malaysia

Economic System

Capitalist Socialist Islamic Economic

Islamic Economics (1)Islamic Economics (1)

�� AnalyseAnalyse the the ‘‘cause and effectscause and effects’’ of the problemsof the problems..

�� IE knowledge accumulated over many centuries.IE knowledge accumulated over many centuries.

�� Effort of Muslim jurists to address the economic Effort of Muslim jurists to address the economic
problems. problems.

�� Abu Abu YusufYusuf: pricing issue, monetary. : pricing issue, monetary.

�� Al Al GhazaliGhazali: benefit of using money rather than : benefit of using money rather than
barter trading, prohibition of hoarding and barter trading, prohibition of hoarding and
monopolymonopoly

�� IbnuIbnu QayyimQayyim: Made and natural price. : Made and natural price.

Islamic Economic (2)Islamic Economic (2)

�� AnalyseAnalyse the economy within the historical and the economy within the historical and

social context.social context.

�� IbnuIbnu KhaldunKhaldun: how economic changes in : how economic changes in

different stages, main reason of output, different stages, main reason of output,

monetary.monetary.

�� Al Al MaqreeziMaqreezi: inflation: inflation

Islamic Economic (3)Islamic Economic (3)
�� Contemporary IEContemporary IE. Invigorated in 1976 by the First International . Invigorated in 1976 by the First International

Conference on IE in Conference on IE in MakkahMakkah. 3 Categories . 3 Categories

�� 1. Advocated by 1. Advocated by fuqahafuqaha. The approach was more of a legalistic . The approach was more of a legalistic

approach while their emphasis was on issues such as approach while their emphasis was on issues such as ribariba and interest, and interest,

banking and banking and zakatzakat. .

�� 2. Group that responded to the orthodox view of the above 2. Group that responded to the orthodox view of the above fuqahafuqaha. .

Although they were not Islamic scholars, the advocates of this gAlthough they were not Islamic scholars, the advocates of this group roup

of writing attempted to of writing attempted to reintrepretereintreprete ((tafsirtafsir) the ) the Qur`anQur`an and the and the

SunnahSunnah using their `using their `aqlaql (mental) to promote (mental) to promote ijtihadijtihad, under the pretext , under the pretext

of overcoming the problems faced by modern society. of overcoming the problems faced by modern society.

�� 3. Current mainstream IE was the writings by Western3. Current mainstream IE was the writings by Western--educated educated

Muslim economic scholars. They adopted economicMuslim economic scholars. They adopted economic--based approach based approach

that reflects the background of their conventional economic thinthat reflects the background of their conventional economic thinking king

using western economic techniques and sophisticated writingsusing western economic techniques and sophisticated writings

Concept of IEConcept of IE

�� Is the science that studies the best possible use Is the science that studies the best possible use

of of (i) all available economics resources endowed (i) all available economics resources endowed

by Allah (ii) for the production of maximum by Allah (ii) for the production of maximum

possible output of (iii) possible output of (iii) HalalHalal goods and services goods and services

that are needed for the community now and in that are needed for the community now and in

the future and (iv) the just distribution of this the future and (iv) the just distribution of this

output (v) within the framework of output (v) within the framework of shariahshariah and and

its intentsits intents’’..

Fundamental of Islamic EconomicFundamental of Islamic Economic

�� Two dimensional utilityTwo dimensional utility

�� Allah is the absolute ownershipAllah is the absolute ownership

�� SourcesSources--QuranQuran and and SunnahSunnah, , QiyasQiyas and and IjmaIjma’’

�� Vicegerent and TrusteeshipVicegerent and Trusteeship

�� Islam esteems wealth and wealthyIslam esteems wealth and wealthy

�� Social Mutual SolidaritySocial Mutual Solidarity-- BrotherhoodBrotherhood

�� The Prohibition of usuryThe Prohibition of usury

�� Ummatic(broadUmmatic(broad) ownership of natural resources) ownership of natural resources

Financial System

Banking System
Non Bank Financial

Intermdaiaries Financial Markets

Banking SystemBanking System

�� Monetary InstitutionsMonetary Institutions-- BNM, Commercial BNM, Commercial

Banks.Banks.

�� NonNon--monetary Institutionsmonetary Institutions-- Finance Co, Finance Co,

Merchant Banks and Discount Houses.Merchant Banks and Discount Houses.

Non Bank Financial IntermediariesNon Bank Financial Intermediaries

�� Development Financial InstitutionsDevelopment Financial Institutions-- Bank Bank

PembangunanPembangunan, BKR, BKR

�� Saving InstitutionSaving Institution-- National Saving Banks and National Saving Banks and

Credit CooperativeCredit Cooperative

�� Provident and Pension FundProvident and Pension Fund--EPF, Pension Trust EPF, Pension Trust

Funds, LTAT.Funds, LTAT.

�� Insurance CompaniesInsurance Companies-- Conventional and IslamicConventional and Islamic

�� Other Financial IntermediariesOther Financial Intermediaries-- MBSB, Leasing MBSB, Leasing

Co. LTH.Co. LTH.

Financial MarketsFinancial Markets

�� Money and Foreign ExchangeMoney and Foreign Exchange-- Market for Market for

securities less than 12 months to maturity. securities less than 12 months to maturity.

EgEg-- bankerbanker’’s acceptance, negotiable s acceptance, negotiable

instruments.instruments.

�� Capital MarketCapital Market-- Primary and secondary Primary and secondary

securities market. SC.securities market. SC.

�� Commodity Futures market and financial Commodity Futures market and financial

futures market and options marketfutures market and options market

Financial System

Banking Capital Market Insurance

Conventional

Islamic

Private/Public
Debt Securities

Money

Market

Stock Exchange Derivative

Conventionatial

Islamic

Bank Bank

�� The term bank originates from the Italian word The term bank originates from the Italian word

bancobanco, which means , which means ‘‘tabletable’’ as in the past as in the past

moneychangers from Lombardy used to place moneychangers from Lombardy used to place

money on a table. money on a table.

�� The first modern bank was started in Venice in The first modern bank was started in Venice in

979H or 1584CE and was known as 979H or 1584CE and was known as BancoBanco didi

RialtoRialto

�� 1640 Bank of England1640 Bank of England

Islamic Banking in the WorldIslamic Banking in the World

�� AfricaAfrica

�� EuropeEurope

�� Middle EastMiddle East

�� AsiaAsia

�� South East AsiaSouth East Asia

�� North AmericaNorth America

�� AustraliaAustralia

Middle EastMiddle East

�� IDBIDB--1975 Saudi Arabia.1975 Saudi Arabia.

�� Dubai Islamic BankDubai Islamic Bank-- 1975 UAE1975 UAE

�� KFH: 1977KFH: 1977

�� 1978 Jordan Islamic Bank 1978 Jordan Islamic Bank

�� Bahrain Islamic Investment Company 1981Bahrain Islamic Investment Company 1981

�� Qatar Islamic Bank 1983Qatar Islamic Bank 1983

�� Bank Bank MelliMelli: Iran: Iran--Law of Usury Free Banking 1983Law of Usury Free Banking 1983--
It takes about 6 years from 1979 Islamic Revolution It takes about 6 years from 1979 Islamic Revolution
to to IslamiseIslamise the whole banking system of Iran.the whole banking system of Iran.

�� Al Al RajhiRajhi: 1985: 1985

�� Bank al Bank al NizwaNizwa, Oman 2011, Oman 2011

AsiaAsia

�� PakistanPakistan-- 19771977--Report on elimination of interestReport on elimination of interest--

19791979--House Building Finance Corporation, House Building Finance Corporation,

National Inv. Corp of Pakistan. Until 1985National Inv. Corp of Pakistan. Until 1985-- Whole Whole

system was system was ribariba--free. 1991free. 1991-- COA declared Islamic COA declared Islamic

banking operation was not Islamic and confirmed banking operation was not Islamic and confirmed

by the Supreme Court 1999. Then, Pakistan by the Supreme Court 1999. Then, Pakistan

followed Malaysiafollowed Malaysia’’ s model.s model.

�� Al Al HilalHilal Bank, Kazakhstan Bank 2010Bank, Kazakhstan Bank 2010

�� NingxiaNingxia Islamic International Trust and Islamic International Trust and

InvestmentInvestment

�� Al Al AmeenAmeen Islamic and Financial Inv Corp India Islamic and Financial Inv Corp India

Ltd. 1985Ltd. 1985

AfricaAfrica

�� MitMit GhamrGhamr Local Saving Bank: 1963Local Saving Bank: 1963

�� Faisal Islamic Bank of EgyptFaisal Islamic Bank of Egypt-- 19751975

�� Faisal Islamic Bank of Sudan 1977Faisal Islamic Bank of Sudan 1977

�� Bait Bait EttamouliEttamouli Saudi Saudi TounsiTounsi Tunisia 1984Tunisia 1984

�� AlbarakaAlbaraka Bank Ltd, Durban (Bank Ltd, Durban (DallahDallah Al Al

BarakaBaraka Group) (1982)Group) (1982)

�� Al Al wataniyawataniya, Mauritania 2010, Mauritania 2010

�� JaizJaiz Bank, Nigeria 2012Bank, Nigeria 2012

EuropeEurope

�� Dar alDar al--Mal alMal al--IslamiIslami-- Switzerland 1981.Switzerland 1981.

�� 19781978-- Islamic Banking System International Islamic Banking System International
Holdings, Luxemburg.Holdings, Luxemburg.

�� Union Bank of Switzerland 1990Union Bank of Switzerland 1990-- Offer Islamic Offer Islamic
Investment fund.Investment fund.

�� Islamic Bank of Britain 2004. Islamic Bank of Britain 2004.

�� BADR Bank Russia.BADR Bank Russia.

�� ALAL--BarakaBaraka Turkish Finance House 1985Turkish Finance House 1985-- 99% 99%
MuslimMuslim-- 1928 Secularism by 1928 Secularism by AtartukAtartuk..-- About 7 About 7
IFIsIFIs..

�� Islamic Bank International Denmark 1983Islamic Bank International Denmark 1983

�� KurveytKurveyt Turk Bank, Germany 2012Turk Bank, Germany 2012

North AmericaNorth America

�� American Finance HouseAmerican Finance House--LaribaLariba-- 1987 1987

California.California.

�� Islamic CoIslamic Co--operative Housing Corporation operative Housing Corporation

Ltd, Toronto Ltd, Toronto

�� AmeenAmeen Housing CoHousing Co--operative, San operative, San

Francisco Francisco

�� HSBC, USA HSBC, USA

South East AsiaSouth East Asia

�� Philippine Philippine AmanahAmanah Bank. 1973.Bank. 1973.

�� Bank Bank MuamalatMuamalat Indonesia 1992. Indonesia 1992.

�� AlirajniAlirajni Commercial Commercial EtablishmentEtablishment for for

Exchange, Bangkok 1985. Exchange, Bangkok 1985.

�� Islamic Bank of ThailandIslamic Bank of Thailand--20022002

�� DBS Bank Ltd SingaporeDBS Bank Ltd Singapore-- 2007 First IB in 2007 First IB in

Singapore.Singapore.

�� Islamic bank of Brunei: 1993Islamic bank of Brunei: 1993

AustraliaAustralia

�� Muslim Community Cooperative Australia Muslim Community Cooperative Australia

1989.1989.

�� Muslim Community Credit Union 2000. Muslim Community Credit Union 2000.

Insolvent in 2002. Insolvent in 2002.

�� IskanIskan FinanceFinance--20012001

Global Islamic Finance Asset 2012

Islamic Banking,

81%

Takaful, 1.10%

Sukuk, 14%

Islamic funds,

3.90%

Total Asset USD 1.6 trilion

Afghanistan, Albania, Algeria, Azerbaijan, Benin,

Burkina Faso, Chad, Cameroon, Comoros,

Djibouti, Gabon, Gambia, Guinea Bissau,

Kyrgyztan, Mali, Maghribi, Sierra Leone,

Somalia,Uganda, Turkmenistan, Yemen,

Tajikistan and Mozambique.

Conventional

System only

3

Dual system Malaysia, Pakistan, Indonesia, Singapore,

Thailand,Saudi Arabia, Bahrain, Bangladesh,

Brunei, Egypt, Guinea, Jordan, Kuwait, Niger,

Qatar, Senegal, Tunisia, Turki, UAE, Oman,

Lubnan, Palestin, Maldives

2.

Iran and SudanIslamic Banking

System

1.

CountryCategory

Standard Setting AgenciesStandard Setting Agencies

�� Accounting and Auditing Accounting and Auditing OrganisationOrganisation for for

Islamic Financial Institutions AAOIFIIslamic Financial Institutions AAOIFI-- 1990. 1990.

Bahrain.Bahrain.

�� Islamic Financial Services Board IFSB 2002Islamic Financial Services Board IFSB 2002--

KL.KL.

Industry ArchitectureIndustry Architecture

�� IDBIDB--19751975

�� OIC OIC FiqhFiqh Academy: 1988Academy: 1988

�� CIBAFICIBAFI--Gen council for IB and FIGen council for IB and FI--20012001

�� IIFMIIFM-- 20022002--financial marketfinancial market

�� IIRAIIRA--20052005-- Rating Rating

�� IIRACIIRAC--20052005--arbitrationarbitration

�� ISRAISRA--20082008

�� IILMCIILMC--2010.2010.

Evolution Evolution

�� RasulullahRasulullah SAW received deposit from SAW received deposit from

public.public.

�� AzAz ZubairZubair AwamAwam-- received deposit as loan.received deposit as loan.

�� Concept Concept wadiahwadiah, loan and , loan and mudharabahmudharabah..

�� UmaiyahUmaiyah, , AbasiyahAbasiyah and and UthmaniahUthmaniah

�� ZuhrZuhr alal--islamislam-- SaifSaif DawalaDawala al al HamdaniHamdani has has

already used already used chequecheque ((SuftajahSuftajah) in certain ) in certain

transaction. transaction. SafarnamaSafarnama by by NaserNaser KhasroKhasro

427m427m-- Active transaction using Active transaction using chequecheque..

SarrafSarraf
�� SarrafSarraf and and jahbadhjahbadh provided financing facilities primarily provided financing facilities primarily

on the basis of on the basis of mudharabahmudharabah and and musharakahmusharakah, negotiable , negotiable
instruments and trade facilities by cashing cheques, and instruments and trade facilities by cashing cheques, and
issued promissory notes and letter of credits. They also issued promissory notes and letter of credits. They also
provided banking facilities to the public as well as the provided banking facilities to the public as well as the
private sector, private sector,

�� ṣṣarrarrāāff were moneylenders, brokers and pawnbrokers; many were moneylenders, brokers and pawnbrokers; many
ṣṣarrarrāāff became large financiers with wellbecame large financiers with well--recognized recognized
international connections and played a significant role in international connections and played a significant role in
the economy and politics of the Ottoman Empire.the economy and politics of the Ottoman Empire.

�� SarrSarrāāff also functioned as moneychangers to provide also functioned as moneychangers to provide
facilities of currency exchange and played a role in facilities of currency exchange and played a role in
determining the relative value of coins.determining the relative value of coins.

JahbadhJahbadh

�� As an administrator of deposits and as a remitter As an administrator of deposits and as a remitter

of funds from place to place through the of funds from place to place through the

medium of the medium of the ṣṣakkakk and especially of the and especially of the

suftadsuftad ̲̲jj ̲̲aa. .

�� Islamic bank of today is a transformation of Islamic bank of today is a transformation of

JahbadhJahbadh in a modern formin a modern form where it has some where it has some

characteristics of a fullcharacteristics of a full--fledged banker as well as fledged banker as well as

merchant banker. merchant banker.

BaitulBaitul MalMal

�� BBaytayt alal--mmaall could be considered as a statecould be considered as a state--owned owned

bank; it played the role of an agricultural credit bank; it played the role of an agricultural credit

bank, commercial bank and clearing house for bank, commercial bank and clearing house for

merchants to facilitate commercial activities merchants to facilitate commercial activities

from the time of Umayyad from the time of Umayyad

Modern Islamic BankingModern Islamic Banking

�� MitMit GhamrGhamr Local Saving BankLocal Saving Bank-- Saving Saving

account, loan, equity financing and welfare account, loan, equity financing and welfare

services.services.

�� Its operation has been taken by National Its operation has been taken by National

Bank of Egypt in 1967 and Bank of Egypt in 1967 and ribariba--free free

transaction was neglected. 1971transaction was neglected. 1971-- National National

Social Bank.Social Bank.

�� OICOIC-- King Faisal. 1975 Dubai Islamic Bank King Faisal. 1975 Dubai Islamic Bank

and IDB.and IDB.

�� 1977 Faisal Islamic Bank of Egypt, Faisal 1977 Faisal Islamic Bank of Egypt, Faisal

Islamic Bank of Sudan and KFH.Islamic Bank of Sudan and KFH.

Modern Islamic BankingModern Islamic Banking

�� 11stst PhasePhase-- 1950s. Concept and Idea1950s. Concept and Idea

�� 22ndnd PhasePhase-- 1960s1960s-- Early Islamic BankEarly Islamic Bank

�� 33rdrd PhasePhase-- 1970s1970s-- Establishment of academic Establishment of academic
institution and banking institution. Publication of institution and banking institution. Publication of
text materials on IB.text materials on IB.

�� 44thth PhasePhase-- 1980s1980s-- Development of Islamic BankDevelopment of Islamic Bank--
Window and FullWindow and Full--fledgefledge

�� 5th Phase5th Phase--1990s1990s-- Development of Islamic Bank in Development of Islamic Bank in
USA marketUSA market-- Dow Jones Islamic Index was Dow Jones Islamic Index was
launched.launched.

�� 66thth PhasePhase-- 2000s2000s-- Maturity , comprehensive Maturity , comprehensive
architecture, IFSB and etc.architecture, IFSB and etc.

Products EvolutionProducts Evolution

PrePre--1970s1970s--Retail/ Micro Retail/ Micro

financefinance

1980s1980s--CommercialCommercial

1990s1990s--Project finance and Project finance and

takaful/Sukuktakaful/Sukuk

2000s2000s-- Advanced treasury Advanced treasury

services/ Cross border services/ Cross border

liquidity/ money market liquidity/ money market

instrumentinstrument

Future ProspectsFuture Prospects

MalaysiaMalaysia

�� Phase 1: 1840Phase 1: 1840--19001900: : 7 Western banks were established.

� The Oriental Bank was set up in Singapore in 1846

� The Mercantile Bank of India, London and China in
1855,

� The Chartered Bank of India,, Australia and China in
1859

� The Asiatic Banking Corporation and the
Commercial Bank of India both in the 1960's,

� Rhe Nederlandse Handel Matschappij (N. H. M. ) in
1883.

� The Hong Kong and Shanghai Banking Corporation
in 1884.

The Development of BFIThe Development of BFI

�� Post 1900Post 1900: G: Gradual emergence of local Chinese banks.

� The first local Chinese bank,, Kwong Yik Bank, was founded in Singapore in 1903.

� Kwong Yik (Selangor) Banking Corporation in 1913. The first bank incorporated
in KL.

� Sze Hai Tong in 1906.

� Chinese Commercial Bank in 1912

� Ho Hong Bank in 1917

� Overseas-Chinese Bank in 1919.

� Lee Wah Bank, Bank of Malaya and Batu Pahat Bank in 1920

� Ban Hin Lee Bank in 1935

� United Overseas Bank in 1935.

� Malay bank was established in 1947 but it failed in 1952.

� Bank of Canton in 1953,

� Bank of America in 1955,

� Bank of Indonesia in 1955,

� Bank of Tokyo and Bangkok Bank in 1957

Islamic Finance in MalaysiaIslamic Finance in Malaysia
�� 19801980-- BumiputraBumiputra Economic CongressEconomic Congress-- To establish IB.To establish IB.

�� 19811981-- National Steering Committee.1982 table the report.National Steering Committee.1982 table the report.

�� 1 March 19831 March 1983-- BIMB through IBA 1983. 1992BIMB through IBA 1983. 1992-- Listed in Listed in
Bursar Malaysia.Bursar Malaysia.

�� 19931993-- Islamic Banking SchemeIslamic Banking Scheme-- 1 IB and 20 windows, 1 IB and 20 windows,
BBMB, UMBC and Maybank

�� 19941994-- International Islamic Money Market.International Islamic Money Market.

�� 19971997-- NSAC at BNMNSAC at BNM

�� 19991999-- BMMBBMMB

� 2004 - Foreign Islamic full-fledged banking license to Kuwait
Finance House (KFH), Al-Rajhi Investment Bank, Saudi Arabia
and Qatar Investment Group.

�� 20072007-- 12 IB 9 local and 3 foreign players.12 IB 9 local and 3 foreign players.

�� 20012001--20102010-- Islamic Financial Sector Master PlanIslamic Financial Sector Master Plan-- 20%20%

�� 2011: 24 CB and 17 IB2011: 24 CB and 17 IB

BAFIA

Deposit Taking

Institutions

Scheduled Institution Non-Scheduled

Institution

BNMBNM
�� 2 Objectives: 2 Objectives:

�� 1) To promote monetary stability and a sound financial structure1) To promote monetary stability and a sound financial structure

�� 2) To influence the credit situation to the advantage of the 2) To influence the credit situation to the advantage of the

federationfederation

� The BNM is therefore charge with the task of implementing all the
regulations concerned with these matters as laid by the law, as well

as issuing policies and directives to further the implementation of

these regulations.

� Where and when certain of the regulations have become inadequate

or new or additional regulations become necessary, it is also the
Central Bank's responsibility to initiate the formulation of such

changes.

BNMBNM

� (a) to issue currency in the Federation and to
keep reserves safeguarding the value of the
currency

� (b) to act as banker and financial adviser to the
government

� (c) to promote monetary stability and a sound
financial structure
� SRR: S 36 BAFIA

� (d) to influence the credit situation to the
advantage of the Federation

Bank and bankBank and bank

�� ““BankBank”” means the Central Bank of Malaysia means the Central Bank of Malaysia

established by the Central Bank of Malaysia Act established by the Central Bank of Malaysia Act

1958; 1958;

�� ““bankbank”” means a person which carries on means a person which carries on

banking business; banking business;

�� Restriction on the use of the term Restriction on the use of the term ““bankbank””

section 4section 4

Commercial BanksCommercial Banks

� 24 Commercial Banks in Malaysia

� Largest and most important

� Provides current account facilities where
payments can be effected readily through the
issue of cheques.

Islamic BanksIslamic Banks

�� 17 Islamic Banks: Islamic Banking Act 198317 Islamic Banks: Islamic Banking Act 1983

�� banking business whose aims and operations do banking business whose aims and operations do

not involve any element which is not approved not involve any element which is not approved

by the Religion of Islam; by the Religion of Islam;

Development Finance CompaniesDevelopment Finance Companies

�� the business of providing capital or other credit the business of providing capital or other credit

facility on terms which would require the same facility on terms which would require the same

to be to be utilisedutilised for industrial, agricultural, for industrial, agricultural,

commercial or other economic development; commercial or other economic development;

and for the purposes of this definition, and for the purposes of this definition,

““developmentdevelopment”” includes the commencement of includes the commencement of

any new industrial, agricultural, commercial or any new industrial, agricultural, commercial or

other economic venture or the expansion or other economic venture or the expansion or

improvement of any such existing venture; or improvement of any such existing venture; or

Discount HouseDiscount House

�� Receiving deposits on deposit account; Receiving deposits on deposit account;

�� the investment of such deposits and other funds the investment of such deposits and other funds

of the institution in Malaysian Government of the institution in Malaysian Government

securities, Treasury bills or such other securities, Treasury bills or such other

investments as may be prescribed by the Bank; investments as may be prescribed by the Bank;

Finance CompaniesFinance Companies

�� the business of receiving deposits on deposit the business of receiving deposits on deposit
account, savings account or other similar account, savings account or other similar
account; and account; and

�� giving of credit facilities, leasing business, giving of credit facilities, leasing business,

�� business of hirebusiness of hire--purchase, including that which purchase, including that which
is subject to the Hireis subject to the Hire--Purchase Act 1967 Purchase Act 1967

�� Business of acquiring rights and interests in a Business of acquiring rights and interests in a
hirehire--purchase, leasing or other similar purchase, leasing or other similar
transaction. transaction.

Merchant BanksMerchant Banks
�� providing consultancy and advisory services relating to providing consultancy and advisory services relating to

corporate and investment matters corporate and investment matters

�� making or managing investments on behalf of any person; making or managing investments on behalf of any person;

� corporate finance and advisory services: services as

underwriters for share issues and acting as share registrars ;

providing advice on capital restructuring,, mergers and

acquisitions ; promotion of new investment and joint ventures;

and the undertaking of feasibility studies.

� Investment advice, which includes portfolio management and

the establishment and management of investment and unit

trusts.

� Banking intermediation services: the management of

syndicated loans and the provision of acceptances and

guarantees.

Merchant BanksMerchant Banks

Investment BankInvestment Bank
�� 15 investment banks in Malaysia15 investment banks in Malaysia

�� raise funds for businesses and some governments by raise funds for businesses and some governments by

registering andregistering and issuing debt or equity and selling it on a issuing debt or equity and selling it on a

market.market.

�� A financial intermediary that performs a variety of A financial intermediary that performs a variety of

investment services: underwriting, acting as an investment services: underwriting, acting as an

intermediary intermediary btnbtn an issuer of securities and the investing an issuer of securities and the investing

public, facilitating mergers and other corporate public, facilitating mergers and other corporate

reorganizations & acting as a broker for institutional reorganizations & acting as a broker for institutional

clients. clients.

�� investment bank's clients are institutional investors and investment bank's clients are institutional investors and

high nethigh net--worth individuals  worth individuals

TutorialTutorial

�� Set up a company in the form of bank or Set up a company in the form of bank or

takafultakaful or or ShariShari’’ahah consultant or legal firm.consultant or legal firm.

�� Group Presentation: CompaniesGroup Presentation: Companies’’ profile.profile.

�� Name, Logo, Board of Directors, SAC, Name, Logo, Board of Directors, SAC,

Capital, Products, Address and further Capital, Products, Address and further

particulars.particulars.

�� Each group is allocated 15 minutes for Each group is allocated 15 minutes for

presentation.presentation.


BLOG OF KNOWLEDGE (Shari'ah, Law, Islamic Finance and Muslim News)
Shari'ah, Law, Islamic Finance and Muslim News
Monthly Archives: January 2014
January 27, 2014
DR. ZULKIFLI HASAN
Innovate with Shariah entrepreneurship
Innovate with Shariah entrepreneurship
http://themalaysianreserve.com/main/sectorial/islamic-finance/5344–innovate-with-shariah-entrepreneurship
The development of the concept of Shariah entrepreneurship is salient to harness the business potential of Shariah educated personnel, in a bid to turn Malaysia into a centre of excellence for Shariah-compliance.
Shariah entrepreneurship will see many Shariah educated young people enter into the business arena, and will altogether create the need for global brands to seek Malaysia’s advisory services in certifying their product as Shariah-compliant, Amanie Group chairman Dr Mohd Daud Bakar said.
“We need to engage the various stakeholders in the industry to bring about innovative solutions. “These solutions are needed to get the industry to move forward.
One such solution is the brand new concept that will encourage Shariah entrepreneurship.” Dr Mohd Daud said in an exclusive interview with The Malaysian Reserve.
Dr Mohd Daud, who recently won the “Anugerah Tokoh Perdana” for his contribution to the Shariah advisory in Malaysia, said a growing number of Muslims are inquiring about whether mainstream or even exclusive product brands are acceptable for them, and this is where Malaysia’s advisory expertise will be needed.
The award, handed over by His Majesty Tuanku Abdul Halim Mu’adzam Shah, the 14th and current Yang diPertuan Agong of Malaysia, is one of the highest awards rewarding Malaysians for their contributions to society.
Nevertheless, Dr Mohd Daud said the Malaysian Shariah entrepreneurs would be able to tie up deals with global or regional brands by providing Shariah advisory to the brand owners.
“Overall, Shariah scholars will not be advisors only, but will own companies that will own brands, rebrand products and altogether become agents or producers and exporters of high end products,” said Dr Mohd Daud.
While admitting the future of Islamic finance and banking rests on the strict application of Shariah principles, Dr Mohd Daud said it was time for Malaysia to move an edge further to ensure greater inclusiveness in the Islamic economic framework.
“To be inclusive is for Malaysia to create opportunities for the Shariah scholars to be involved in entrepreneurship, that will help them set up businesses in order to advise potential new and international clients on the Shariah framework,” Dr Mohd Daud said.
Expanding on the subject, Dr Mohd Daud said the success of educating the current generation, which has resulted in steady growth in the number of Shariah educated students, will be wasted if nothing is done to increase the job portfolios in the marketplace.
Dr Mohd Daud, who is also the Bank Negara Malaysia chairman of the Shariah advisory council also said Shariah entrepreneurship will open Malaysia to a whole new level of economic dynamism.
“Malaysia will become the source for product origination as it will be turned into a centre where branding, re-branding and reproduction will generate new opportunities,” Dr Mohd Daud said.
This will bring a boom in global exportation and trade, positioning Malaysia as a top provider of halal certified international brands in information technology, fashion, cosmetics and consumer goods.
Regards

Zulkifli Hasan
With Dr Mohd Daud Bakar in Dubai
Islamic finance news
Leave a comment
January 19, 2014
DR. ZULKIFLI HASAN
Morocco adopts Islamic finance law
Morocco adopts Islamic finance law
Available at:
http://www.tradearabia.com/news/BANK_250066.html
Morocco’s government has adopted a bill regulating Islamic banks and sukuk issues after months of delays, paving the way for a final vote by the parliament of the North African kingdom later this year.
Approval of the law will be the last step before establishing full-fledged Islamic banks in Morocco, be they subsidiaries of Moroccan banks or foreign rivals, a measure which may bring more Gulf Arab investment into the country.
Morocco has been seeking to develop Islamic finance for about two years, partly as a way to attract Gulf money and fund a huge budget deficit. But the sensitivity of the Moroccan political elite to Islamism has repeatedly delayed its plans.
Last year, Moroccan deputies approved legislation allowing the government to issue sovereign sukuk, but it has not yet taken steps to raise its first Islamic bonds.
“We have adopted that law today and we are sending to the parliament,” communication minister and government spokesman Mustapha Khalfi told Reuters by telephone.
The minister said it was difficult to estimate how much time parliament would need, but experts expect it will vote before the end of this year.
Morocco’s central bank has started talks with a body of Islamic scholars on establishing a central sharia board to oversee the country’s fledgling Islamic finance industry, an official from Moroccan central bank told Reuters in April.
The board, composed of scholars and financial experts, would rule on whether instruments and activities complied with sharia principles.
Islamic banks will be called participative banks under the Moroccan legislation.
In 2010, Morocco began allowing conventional banks to offer a limited set of Islamic financial services, which obey principles such as a ban on the payment of interest.
The country’s Islamic finance drive accelerated after a moderate Islamist-led government took power through elections in late 2011, and as the Moroccan economy has been hit by the euro zone debt crisis.-Reuters
Islamic finance news
Leave a comment
January 8, 2014
DR. ZULKIFLI HASAN
Tasawwur Dakwah dan Tajdid Haraki Dalam Konteks Bernegara
Tasawwur Dakwah dan Tajdid Haraki Dalam Konteks Bernegara
Zulkifli Hasan
Pendahuluan
Pengalaman beinteraksi dengan pelbagai badan bukan kerajaan dan beberapa persatuan serta program ziarah tokoh gerakan Islam semasa menuntut di United Kingdom telah membuka minda dan mencetus tasawwur atau ‘worldview’ baru terhadap pendekatan dakwah yang lazimnya dikaitkan dengan slogan ‘Islamic Revivalism’ atau kebangkitan Islam. Di antara subjek yang menjadi perhatian utama penulis ialah pendekatan baru atau idea segar gerakan dakwah dalam mengharungi cabaran pluraliti. Melihat kepada perkembangan dunia Islam dan barat yang menuntut kepada sistem yang lebih demokratik melalui revolusi di Mesir, Tunisia, Libya, Yaman dan lain-lain negara termasuk angin perubahan di Israel, mahu tidak mahu pendekatan dakwah yang sedia ada perlu diperbaharui atau diberikan nafas baru dengan mengambil kira faktor dan fenomena setempat dan antarabangsa. Begitu juga dengan situasi yang berlaku di Malaysia. Masih ada lagi pihak tertentu malahan golongan agamawan dan pemimpin politik yang mempunyai tasawwur atau kerangka pemikiran lama yang boleh dikatakan tidak seiring dengan perkembangan ilmu itu sendiri. Konsep Dar al harb, konsep kafir al harb dan kafir al dhimmi, konsep Negara Islam masih lagi menjadi kerangka utama pemikiran dan seterusnya melahirkan polisi dan karakter yang agak tidak bersesuaian untuk dakwah Islam.
Dari aspek ini, penulis ingin melontarkan pandangan yang dianggap bukanlah baru tetapi merasakan ianya perlu diberikan perhatian oleh setiap jemaah atau pertubuhan Islam termasuk mana-mana pihak yang berjuang atas nama Islam dalam menangani isu Islam dan pluraliti.  Perlu diingatkan pluraliti di sini bukan bermaksud ‘pluralisme agama’ tetapi merujuk kepada kepelbagaian agama, bangsa dan warganegara. Bagi maksud perbincangan ini, penulis ingin mengutarakan beberapa konsep yang perlu dijadikan dasar dan tasawwur dakwah dalam konteks sama ada di negara majoriti penduduk Islam dan juga di mana orang Islam adalah minoriti. Konsep ‘al Ukhuwat al Muwatinun’, ‘al Ukhuwat al Insaniyyah’ dan ‘Dar al Da’wah’ yang dianjurkan oleh pendakwah kontemporari seperti Yusuf al Qaradhawi, Tariq Ramadhan, Fahmi Huwaidiy dan Muhammad Fathi Uthman perlu dijadikan topik perbincangan dan diberikan ruang yang sewajarnya untuk dijadikan satu pendekatan dakwah yang lebih segar dan berkesan.
Tasawwur Dakwah
Idea penulisan ini tercetus semasa menghadiri konferen anjuran International Institute of Islamic Thought dan University of Sarajevo di Sarajevo, Bosnia and herzegovina. Terdapat beberapa perbincangan yang sangat menarik diutarakan oleh pemikir dan sarjana terkemuka yang menyentuh betapa perlunya beberapa konsep yang difahami sekian lama oleh umat Islam diislahkan agar ia lebih sesuai dengan keadaan kehidupan pada hari ini. Penulis berpandangan, konsep-konsep yang amat penting untuk difahami ini merupakan hasil daripada intipati kefahaman pemikir dan pendakwah Islam ini melalui ilmu pengetahuan, pengalaman, pemikiran, pengamatan dan pengajaran yang diambil dari sejarah kebangkitan Islam. Hakikatnya, tasawwur dakwah dalam ruang lingkup tradisi melalui istilah umpamanya ahlu Zimmah, dar al Harb dan kafir Harb menimbulkan implikasi yang agak signifikan pada keberkesanan pendekatan dan metod dakwah. Dengan tertubuhnya negara bangsa setelah penjajahan di kebanyakan daerah Islam di dunia, gerakan dakwah pada hari ini perlu beroperasi dalam ruang lingkup tasawwur yang lebih bersifat kontemporari, universal, hikmah dan terbuka. Ini bagi menjamin keberkesanan dan kesesuaian strategi dakwah terutamanya mendepani isu pluraliti atau kepelbagaian kaum, agama dan warganegara. Istilah yang lebih segar dan kontemporari seperti al Ukhuwat al Muwatinun, al Ukhuwat al Insaniyah dan Dar al Da’wah dilihat amat bertepatan dengan keadaan semasa serta bersesuaian dengan peredaran zaman dan perkembangan dunia.
Konsep Negara Islam dan Negara Madani
Fenomena yang berlaku di dunia Islam ini sangat berkait dengan arus gerakan kebangkitan Islam. Aspirasi gerakan Islam untuk mengembalikan kegemilangan tamadun Islam ini berorientasikan beberapa pendekatan dan kerangka pemikiran. Antara wacana awal kebangkitan Islam (Islamism) ialah perjuangan ke arah menubuhkan Negara Islam dan mengembalikan sistem khalifah. Konsep Negara Islam ini yang didominasi oleh beberapa pemikir Islam seperti al Maududi dan Sayyid Qutb telah mempengaruhi kebanyakan gerakan Islam. Revolusi Iran kemudiannya menjadi pemangkin kepada wacana Negara Islam di mana banyak gerakan Islam menganggap eksperimen ini akan berjaya.
Al Maududi di dalam karyanya seperti ‘Al Ahkam al Sultaniyyah’ dan ‘The Islamic Law and Constitution’ membuat gagasan Negara Islam bermodelkan ‘theo-democracy’. Begitu juga Sayyid Qutb yang membicarakan Negara Islam melalui beberapa konsep seperti al hakimiah, masyarakat jahiliah dan ketamadunan. Konsep negara Islam yang diaspirasikan oleh golongan ini lebih menjurus kepada pembentukan dar al Islam. Konsep negara Islam juga telah ditafsirkan oleh sesetengah pihak seperti Hizb al Tahrir sebagai usaha mengembalikan sistem khalifah. Idea-idea ini kemudiannya menimbulkan persoalan setakat mana relevannya pendekatan Negara Islam dalam konteks sosio-politik negara dan antarabangsa masa kini.
Wacana Negara Islam kemudiannya mula pudar dan mendapat reaksi berbeza daripada intelektual dan pemikir kontemporari. Kerelevanan dan realiti konsep Negara Islam ini mula disemak dan dikaji semula setelah melihat pengalaman negatif beberapa gerakan Islam dalam usaha memperjuangkan Negara Islam dan dalam masa yang sama kekaburan hujah-hujah yang menjustifikasikan kewajipan menegakkan Negara Islam. Seiring dengan wacana yang mengkritik konsep Negara Islam ini, maka wujudlah idea pemikiran konsep Negara Madani  (Sivil) berlandaskan nilai-nilai Islam atau ‘Civil State with Islamic Reference’ yang lebih segar dan realistik.
Setelah berlakunya beberapa peristiwa penting yang melanda gerakan Islam yang gagal untuk merealisasikan penegakan Negara Islam seperti yang terjadi pada parti Front Islamic Salvation (FIS) pimpinan Abbas Madani di Algeria, eksperimen Hasan al Turabi di Sudan termasuk kegagalan di Afghanistan pimpinan Taliban, membuatkan pendekatan ‘Islamist’ ini di kaji semula. Selain itu, gerakan Islam yang berorientasikan perjuang Negara Islam ini juga sering dilihat sebagai gerakan yang seakan ingin memonopoli ‘authority of Islam’, mudah melabelkan pihak tidak sefikrah sebagai kafir dan tidak bersesuaian dengan sosio-ekonomi-politik Negara dan antarabangsa. Kes yang sama berlaku di Tunisia apabila ribuan aktivis Al Nahdah telah diseksa dan dizalimi oleh rejim Ben Ali di mana lebih 3000 aktivis Al Nahdah, menyeksa, menzalimi, memenjarakan, menjatuhkan hukuman bunuh dan pelbagai kekejaman yang lain atas dasar ancaman untuk menegakkan Negara Islam.
Berbeza dengan pendekatan ‘Islamist’ yang masih berpegang kepada misi menubuhkan Negara Islam dan mengembalikan sistem khalifah termasuk membolehkan penggunaan kekerasan, Yusuf al Qaradawi, Abdul Karim Soroush dan Tariq Ramadan dan al Ghannoushi membicarakan konsep Negara Sivil (dawlah madaniyyah) yang berasaskan kepada nilai-nilai dan ajaran Islam (Negara Sivil Berteraskan Shari’ah atau Negara Sivil Beridentitikan Islam) dan dipandu oleh maqasid Shariah serta mengutamakan jaminan kebebasan (al hurriyah) dan hak asasi (huquq al Insan). Inilah yang dimaksudkan dengan konsep Negara Madani yang seharusnya dijadikan ‘discourse’ dalam membentuk kerangka tasawwur dakwah dan tajdid haraki oleh gerakan Islam dan umat Islam itu sendiri. Definisi Dar al Islam di dalam konteks Negara Madani itu diluaskan sebagai merujuk kepada Negara yang menjamin kebebasan secara adil yang berteraskan Tawhid dan menghormati hasrat dan aspirasi warganegara atau rakyat dengan menjadikan nilai-nilai Islam dan Shari’ah sebagai panduan dan rujukan. Dalam erti kata lain Negara Madani ini menjadikan Maqasid Shari’ah sebagai panduan, konsep Shura sebagai tema utama, pengiktirafan budaya dan identiti, mengiktiraf suara rakyat dan mengangkat karamah insaniah serta hak asasi manusia.  Sewajarnya, wacana konsep ’Daulah Madaniyah’ ini dibicarakan secara intensif dan menyeluruh serta dijadikan ’discourse’ arus perdana agar gelombang kebangkitan Islam melalui agenda gerakan Islam itu terus segar, relevan dan kembali bersinar. .
Al Ukhuwat al Muwatinun’
Di antara isu yang hingga ke hari ini ditimbulkan ialah hak-hak kaum minoriti di sesebuah negara yang majoritinya penduduk Islam. Hakikatnya, ramai yang mengklasifikasikan kaum minoriti bukan Islam ini sebagai ahlu Zimmah. Menjelaskan konsep ahlu Zimmah dalam konteks masyarakat pada hari ini, Yusuf Al Qaradhawi di dalam bukunya ‘Al Din wa al Siyasah’ berpandangan bahawa istilah ini lebih bersesuaian digantikan dengan ‘al Ukhuwat al Muwatinun’. Pandangan ini amat bertepatan kerana istilah ahlu Zimmah ini asalnya terpakai kepada kaum minoriti yang membayar jizyah untuk mendapat jaminan perlindungan manakala pada hari ini kaum minoriti seperti di Malaysia adalah berbeza.
Istilah ‘al Ukhuwat al Muwatinun’ ini dilihat mampu memberikan tasawwur baru kepada metod dan pendekatan dakwah kepada golongan bukan Islam. Siddiq Fadhil dalam ucapan dasarnya di Ijtima’ Harakiy ABIM 2011 juga berpandangan bahawa konsep saudara senegara adalah amat bertepatan dalam merujuk kaum minoritI bukan Islam di Malaysia. Malahan dalam aspek ini, Yusuf Al Qaradhawi mengesyorkan skim cukai yang sama rata ‘dharibah takaful’ dengan mengambil kira status sebagai warga negara atau saudara senegara dan bukan lagi dalam bentuk jizyah. Ini disepakati oleh Fahmi Huwaidi di dalam bukunya ‘Muwatinun la Dhimmiyun’ yang berpandangan bahawa istilah ahlu zimmah ini perlu digantikan dengan istilah yang lebih tepat dalam konteks negara bangsa.
Al Ukhuwat al Insaniyyah
Kerap kali menjadi topik hangat mengenai Islam mutakhir ini merujuk kepada isu tohmahan ketidakupayaan syariat untuk melindungi hak-hak asasi manusia. Tohmahan ini juga merupakan salah satu faktor menjadikan dakwah Islam dilihat tidak bersifat universal dan sering mendapat salah tanggapan umum. Persepsi seperti ini boleh diperbetulkan melalui konsep ’al Ukhuwat al Insaniyyah’ atau saudara sesama insan yang dibicarakan dengan terperinci oleh Yusuf al Qaradhawi. Istilah ini bukanlah perkara baru bahkan ia sebenarnya bertepatan dengan ruh ayat 70 surah al Isra yang bermaksud ”Dan sesungguhnya telah Kami muliakan anak-anak Adam”. Ayat ini dengan tegas mengatakan bahawa Allah memuliakan manusia dan mengiktiraf hak-hak asasi yang sebahagian besarnya adalah menjadi kewajipan setiap individu. Melalui intipati ayat ini, gerakan dakwah dan juga apa sahaja aktiviti dakwah perlu memberi perhatian kepada pengutamaan dalam melindungi dan memperjuangkan hak-hak asasi manusia agar dapat dilihat keuniversalan Islam itu secara hakiki.
Hakikatnya, jika dihayati dasar-dasar dan perintah Allah di dalam al Quran dan sunnah rasulNya, terlalu banyak nilai-nilai dan prinsip-prinsip yang secara jelas menyentuh kewajipan menjamin hak-hak asasi. Dalam aspek ini, Muhammad Fathi Uthman di dalam bukunya ’Huquq al Insan baina al Syariah al Islamiyah wa al Fikri al Qanun al Gharbi’ menyatakan bahawa Islam lebih unggul melindungi hak-hak asasi manusia berbanding agama lain tidak kira sama ada ianya bersifat peribadi, pemikiran, politik, undang-undang, sosial dan ekonomi. Sehubungan dengan itu, gerakan dakwah Islam boleh mengambil pendekatan yang lebih terbuka dengan mengambil kira nilai-nilai yang bersifat universal. Gerakan dalam bentuk gabungan dengan badan bukan kerajaan termasuk gerakan dakwah agama lain ke arah menjamin keharmonian dan kerukunan masyarakat merupakan pendekatan yang amat relevan dalam konteks masyarakat masa kini.
Dar al Da’wah
Menyentuh kepada konsep ’negara’, istilah tradisi yang sering digunakan bagi membezakan daerah penduduk Islam dengan bukan Islam ialah dar al harb. Melalui konsep ini jugalah timbulnya istilah kafir harb. Istilah-istilah ini sedikit sebanyak meninggalkan kesan yang kurang baik kepada keberkesanan dakwah dan ini diakui sendiri oleh Yusuf al Qaradawi apabila membincangkan beberapa istilah yang merujuk kepada bukan Islam. Bergerak di dalam ruang lingkup tasawwur yang menganggap bukan Islam sebagai kafir yang diperangi menjadi satu permasalahan yang sangat besar implikasinya.
Menangani isu ini, Tariq Ramadhan berpandangan bahawa istilah dar al harb sudah tidak bersesuaian dengan konteks masyarakat pada hari ini. Secara tidak langsung menunjukkan bahawa istilah kafir harb juga perlu didefinisikan semula. Sebagai alternatif, beliau berpandangan istilah dar al Da’wah adalah lebih bersesuaian dan bertepatan dengan keadaan dan bi’ah atau suasana yang ada pada hari ini. Adalah sangat tidak bertepatan di mana negara majoritinya bukan Islam yang memberi kebebasan beragama malahan lebih baik dari negara yang mengaku Islam diklasifikasikan sebagai dar al harb. Terdapat banyak negara yang ada pada hari ini tidak mempunyai ciri-ciri dan boleh diklasifikasikan sebagai dar al harb mahupun rakyatnya sebagai kafir harb.
Tajdid Harakiy
Istilah Negara Madani, al Ukhuwat al Muwatinun, al Ukhuwat al Insaniyah dan dar al Da’wah merupakan konsep yang perlu dijadikan tasawwur dakwah masa kini. Dengan ruang lingkup tasawwur dakwah yang bersifat universal dan kontemporari inilah yang akan dapat memberikan nafas baru bagi setiap gerakan dakwah. Penulis melihat anjakan pemikiran melalui tasawwur dakwah yang dinamakan ‘tajdid harakiy’ ini merupakan salah satu usaha ke aarah pembaharuan atau ‘renaissance’ kepada gerakan dakwah dalam memastikan keberkesanannya.
Apabila menyentuh isu tajdid, kerap kali istilah ini digunakan dalam ruang lingkup yang tidak luas. Melalui pemerhatian, tajdid sering kali digunakan dalam aspek ibadah iaitu merujuk kepada usaha menjauhi amalan bidaah. Pada hakikatnya, tajdid bukan sahaja perlu dari aspek ibadah, malahan ianya juga bersangkutan dengan ekonomi, sosial, politik, undang-undang dan lain-lain bahkan ianya juga menjadi satu tuntutan dalam gerakan dakwah. Dalam hal ini, usaha-usaha ke arah penyegaran semula tasawwur dakwah melalui konsep al Ukhuwat al Muwatinun, al Ukhuwat al Insaniyah dan dar al Da’wah ini merupakan satu tuntutan pemikiran bagi setiap daie’, gerakan dakwah termasuk institusi kerajaan dan bukan kerajaan yang terlibat dalam usaha mentarbiyah dan menta’dib masyarakat.
Penutup
Tanggungjawab atau mas’uliah dakwah terletak pada setiap individu Islam. Usaha dakwah ini tidak akan mendapat natijahnya secara optimum melainkan dilaksanakan secara berjamaah. Keberkesanan gerakan dakwah juga amat bergantung pada tahap pemikiran dan tasawwur sesuatu jemaah dan individu itu sendiri. Dalam konteks masyarakat moden hari ini dengan perkembangan teknologi, peredaran zaman dan masa serta fenomena globalisasi, tasawwur dakwah juga perlu seiring ditransformasikan terutamanya dalam mendepani isu pluraliti yang agak kompleks ini.
Tasawwur dakwah yang ingin penulis tekankan dalam artikel ringkas ini merujuk kepada transformasi pemikiran dan kefahaman menangani isu Islam dan pluraliti melalui konsep daulah al madaniyah, al Ukhuwat al Muwatinun, al Ukhuwat al Insaniyah dan dar al Da’wah. Penulis berpandangan dan yakin, dalam konteks masyarakat umpamanya di Malaysia, potensi dakwah yang lebih signifikan bakal diterima sekiranya ruang lingkup dan tasawwur yang dibincang di atas menjadi dasar kepada strategi dakwah. Semoga pandangan yang dilontarkan ini boleh dijadikan manfaat atau sekurang-kurangnya pencetus idea ke arah ‘tajdid haraki’ demi memartabatkan Islam di persada dunia.
Regards

Zulkifli Hasan
Bersama Professor Tariq Ramadan di Kajang, Selangor
My Thought
2 Comments
January 6, 2014
DR. ZULKIFLI HASAN
Sambutan Maulid al Rasul Melalui Pembudayaan Ilmu
SAMBUTAN MAULID AL RASUL MELALUI PEMBUDAYAAN ILMU: MENELUSURI LITERATUR SIRAH RASULULLAH SALLALLAHUALAIHIWASALLAM
Zulkifli Hasan
Selasa ini 14 Januari 2014 bersamaan dengan 12 Rabiulawal 1435H/ seperti kebiasaannya umat Islam akan menyambut maulidur Rasul bersempena memperingati kelahiran Nabi Muhammad Sallallahualaihiwasallam yang kita kasihi. Mungkin ada yang tidak tahu bahawa tarikh kewafatan Rasululullah juga berlaku pada 12 Rabiulawal iaitu pada 11 Hijrah/632M seperti yang diriwayatkan oleh sebahagian besar ahli sejarah. Manfaat juga untuk dikongsikan di sini bahawasanya kebanyakan ahli sejarah pada zaman sahabat dan tabiin yang meriwayatkan kisah dan kehidupan Rasulullah Sallallahualaihiwasallam merupakan pakar dalam ilmu hadis.
Di kala umat Islam di Malaysia sibuk berdiskusi mengenai pelbagai isu seperti bughah dan demonstrasi, kalimah Allah dan kristianisasi, kenaikan harga barang dan kesempitan hidup, peningkatan kadar jenayah dan korupsi, penulis ingin mengajak semua untuk mengingati dan menghayati sirah Rasulullah SAW bersempena dengan sambutan Maulid al Rasul 1435H. Umumnya, sebahagian umat Islam pada waktu ini sibuk membuat persiapan menyambut maulidur Rasul dengan pelbagai aktiviti dan menerima sambutan ini sebagai salah satu mekanisma dan pendekatan mencetuskan kefahaman dan perasaan mengenai Rasulullah SAW. Namun, mahu tidak mahu, tidak dinafikan bahawa masih ada juga sebahagian pihak yang mempertikaikan usaha ini dan melabelkannya sebagai bidaah.
Dalam kekhilafan ini, penulis memilih pendekatan sederhana untuk bersama-sama Imam Jalaluddin Sayuti, Sayid Ahmad bin Zaini Dahlan, Syeikh Yusuf Qaradawi dan fuqaha yang lain untuk mengharuskan sambutan Maulidur Rasul dengan syarat ianya tidak mencampur adukkan perkara yang dilarang oleh Islam. Dalam merungkai permasalahan ini, penulis ingin menukilkan kata-kata Hasan Al Banna menasihati umat Islam dalam masalah ini seperti yang diungkapkan oleh Yusuf Qaradawi di dalam Fiqh Awlawiyat, halaman 266-267 yang bermaksud:
“Wahai saudara-saudaraku, aku amat mengetahui bahawa saudara yang bertanya tadi, termasuk juga ramai di kalangan kalian, tidak bermaksud daripada soalan seumpama itu melainkan hanya ingin mengetahui, daripada kumpulan manakah pengajar baru ini? Adakah daripada kumpulan Syeikh Musa atau daripada kumpulan Syeikh Abdul Sami’?! Sesungguhnya pengetahuan ini tidak memberikan apa-apa manfaat kepada kamu, sedangkan kamu telah menghabiskan masa dalam keadaan fitnah selama lapan tahun dan cukuplah sekadar itu. Kesemua masalah-masalah itu telah diperselisihkan oleh umat Islam sejak ratusan tahun dan mereka masih terus berselisih pendapat sehingga ke hari ini, namun Allah SWT redha kepada kita untuk berkasih sayang dan bersatu padu serta membenci untuk kita berselisihan dan berpecah-belah. Maka aku ingin mengajak kamu semua berjanji dengan Allah SWT untuk meninggalkan semua perkara-perkara ini sekarang, dan bersungguh-sungguh untuk mempelajari asas-asas agama dan kaedah-kaedahnya, beramal dengan akhlaknya, kelebihan-kelebihannya yang umum dan petunjuk-petunjuknya yang disepakati. Dan mendirikan segala kewajipan dan sunat serta meninggalkan sikap memberat-beratkan dan terlalu rigid supaya hati menjadi suci. Dan supaya menjadi tujuan kita semua hanya untuk mengetahui kebenaran, bukan hanya kerana sekadar mahu memenangkan satu pandangan. Ketika itu, kita mempelajari kesemua ini bersama dalam keadaan kasih sayang, kepercayaan, kesatuan dan keikhlasan. Aku berharap kamu terimalah pandanganku ini dan agar ia menjadi perjanjian sesame kita untuk berbuat demikian”
Berdasarkan kepada peringatan penting Hasan Al Banna di atas, sudah pasti isu sambutan maulidur Rasul ini tidak akan menjadi punca perselisihan dan perpecahan umat Islam sekiranya maksud sebenar sambutan seumpama ini dihayati. Jika ditinjau sejarah, C. Cherfils di dalam bukunya ‘Napoleon And Islam’ menukilkan bahawa Napoleon Bonaparte juga telah menganjurkan upacara besar-besaran menyambut maulidur Rasul di atas kekagumannya terhadap Rasulullah Sallallahualaihiwasallam. Hingga ada yang mengatakan dengan yakin berdasarkan beberapa dokumen sahih bahawa Napoleon diakhir hayatnya adalah seorang Muslim dengan nama Muhammad Ali Bonaparte.
Namun harus diingat, pada masa umat Islam beriya-beriya untuk menjayakan sambutan Maulidur Rasul dengan pelbagai program dan aktiviti di setiap pelusuk negara, sememangnya tidak dapat dinafikan bahawa masih ramai yang tidak mengenali Rasulullah Sallallahualaihiwasallam sama ada dari aspek pemikiran, peribadi, akhlak, pendekatan dan keseluruhan cara hidup baginda. Penulis mengambil kesempatan ini untuk berkongsi sedikit pengetahuan untuk membicarakan literatur mengenai Sirah Rasulullah Sallallahualaihiwasallam dengan harapan ianya akan dapat menjadi panduan dan rujukan selepas ini.
Merujuk kepada sejarah penulisan Sirah Rasulullah Sallallahualaihiwasallam, ianya telah pun dimulakan oleh para sahabat seperti Abu Rafi Mawla yang telah menulis tentang sifat solat dan ibadah baginda. Ini termasuk Sahl b. Abi Hathmah al-Madani al-‘Ansari dan ‘Abd Allah b. ‘Amru b. al-‘As b. Wa’il b. Hashim. Penulisan sirah Rasulullah Sallallahualaihiwasallam secara sistematik telah dimulakan oleh para Muhaddithun yang juga ahli sejarah seperti Sa`id b. al-Musayyib al-Makhzumi, ‘Urwah b. al-Zubayr b. al-‘Awwam and Abu Fadalah ‘Abd Allah b. Ka’b b. Malik al-Ansari.
Penulisan sirah Rasulullah Sallallahualaihiwasallam kemudiannya kian popular ketika zaman Muhammad b. Ishaq yang telah menulis kitab Kitab al-Mubtada’ wa al-Mab`ath wa al-Maghazi iaitu buku yang membincangkan secara terperinci kehidupan baginda bermula kelahiran hingga kewafatan. Ini diikuti oleh Muhammad b. ‘Umar al-Waqidi yang menulis Kitab Azwaj al-Nabiyy, Kitab al-Tarikh wa al-Maghazi wa al-Mab`ath and Kitab Wafat al-Nabiyy and Kitab al-Maghazi. Kitab Sirah yang menjadi rujukan utama hingga kini telah ditulis oleh ‘Abd al-Malik b. Hisham melalui karyanya yang masyhur iaitu Kitab al-Sirah al-Nabawiyyah. Kitab Shamail al Tirmizi yang menghimpunkan hadis-hadis mengenai karakter, sifat, akhlak dan peribadi Rasulullah SAW juga patut menjadi rujukan. Bahkan kitab ini dapat menjadi panduan untuk mengelakkan sebarang riwayat tidak sahih dan palsu mengenai Rasulullah SAW.
Kitab-kitab sirah di atas walaubagaimanapun ditulis di dalam bahasa Arab dan mungkin ini menimbulkan kesulitan sesetengah pihak untuk memahami dan merujuk isi kandungannya. Ini sebenarnya tidak menjadi halangan bagi tujuan untuk memahami kehidupan Rasulullah Sallallahualaihiwasallam kerana terdapat banyak buku-buku kontemporari yang ditulis oleh sejarawan Islam mahupun dalam bentuk terjemahan. Sebagai contoh buku “Life of the Prophet Muhammad: Al-Sira Al-Nabawiyya” oleh Ibn Kathir, Sirah Nabawiyah oleh Abul Hasan Ali Al Nadwi dan juga “The Life of Muhammad: A Translation of Ibn Ishaq: Sirat Rasul Allah” telah diterjemahkan ke dalam bahasa Inggeris yang boleh dijadikan sebagai rujukan.
Selain daripada itu, buku-buku lain yang boleh dirujuk adalah seperti “Prophet Muḣammad and His mission” oleh S. Athar Husain, “Muhammad, the messenger of Islam: His Life and Prophecy” oleh Hajjah Amina Adil, “Mohammed and the Rise of Islam” oleh D. S. Margoliouth, “The Great Prophet a Short Life of the Founder of Islam” oleh F. K. Khan Durrani, “The Messenger of God Muhammad: An Analysis of the Prophet’s life” oleh M. Fethullah Gulen, “Prophet Muhammad(s) and His Family: A Sociological Perspective” oleh Shamim Aleem, “The Prophet Muhammad: A Biography” oleh Barnaby Rogerson, “Muhammad: Prophet and Statesman” oleh William Montgomery Watt, “Muhammad: Prophet for Our Time (Eminent Lives)” and “Muhammad: Western Attempt to Understand Islam” oleh Karen Armstrong, “The Sealed Nectar (Ar-Raheeq Al-Makhtum)” oleh S. al-Mubarakpuri, “Muhammad: His Life Based on the Earliest Sources” oleh Martin Lings, “Introducing Muhammad” oleh Ziauddin Sardar dan “Prophet Muhammad and His Miracles” oleh Bediuzzaman Said Nursi. Di samping itu, terdapat juga koleksi rujukan dalam bentuk cakera padat seperti “The Life of the Last Prophet”, sebuah audio biografi oleh Yusuf Islam. “The Sealed Nectar (Ar-Raheeq Al-Makhtum)” oleh S. al-Mubarakpur dan “Muhammad: His Life Based on the Earliest Sources” oleh Martin Lings merupakan dua buah buku yang mendapat anugerah khas antara buku terbaik versi Bahasa Inggeris mengenai sejarah hidup Rasulullah SAW. Antara karya kontemporari yang menghidangkan analisis segar dan bersifat universal serta menyentuh secara langsung kehidupan dan pengajaran sirah Rasulullah SAW ialah karya Tariq Ramadan yang bertajuk In the Footsteps of the Prophet: Lesson from the Life of Muhammad.
Kesemua koleksi sirah Rasulullah Sallallahualaihiwasallam di atas diterbitkan dalam bahasa Inggeris dan faktor ini boleh menjadi penghalang sesetengah individu untuk memahami buku-buku tersebut. Sebenarnya terdapat buku-buku dalam bahasa melayu telah diterbitkan seperti “Biografi Muhammad bin Abdullah” oleh Zulkifli Mohd Yusoff dan Noor Naemah Abdul Rahman, “Fiqh al-Harakah dan Sirah Nabawiyyah” oleh Abdul Hadi Awang dan “Ensiklopedia Sirah Nabi Muhammad SAW” oleh Khalil Munawwar. Buku “Biografi Muhammad bin Abdullah” ini mempunyai kelebihan dan tarikan tersendiri di mana ia memuatkan gambar-gambar dan ilustrasi sebagai panduan tambahan kepada pembaca untuk memahami sirah Rasulullah SAW. Selain daripada itu, begitu banyak buku terjemahan seperti Fiqh al-Sirah oleh Muhammad Sa’id Ramadan al-Buti, “Sejarah kehidupan Nabi Muhammad” oleh Muhammad Hussein Haykal dan “Sirah Nabi Muhammad SAW: Pengajaran dan Pedoman” oleh Mustafa as-Shibaie, ‘Muhammad’ oleh Martin Lings, ‘Ar-Raheeq Al-Makhtum” oleh S. al-Mubarakpur boleh sahaja didapati di pasaran. Bahkan kitab “Sirah Nabawiyyah Ibnu Hisham” karya Abu Muhammad Abdul Malik Ibnu Hisham yang dianggap antara rujukan berotoriti mengenai Sirah Rasulullah SAW juga telah diterjemahkan.
Berdasarkan senarai rujukan tertera di atas, penulis menganjurkan agar setiap umat Islam untuk memiliki sekurang-kurangnya senaskhah sirah Rasulullah Sallallahualaihiwasallam sebagai koleksi peribadi.
Memahami dan meneladani Rasulullah Sallallahualaihiwasallam merupakan suatu kewajipan bagi semua umat Islam. Perkara ini tidak akan dapat dicapai melainkan melalui proses pencarian ilmu. Dalam aspek ini, sememangnya kita telah disajikan dengan pelbagai koleksi rujukan mengenai kehidupan Rasulullah Sallallahualaihiwasallam. Hanya tinggal kini ialah kemahuan, keazaman, keiltizaman diri untuk belajar memahami dan meneladani seterusnya mendidik jiwa dan rohani untuk mengasihi Rasulullah Sallallahualaihiwasallam.
Selamat Menyambut Maulidur Rasul!!
Best Regards

ZULKIFLI HASAN
Masjid al Nabawi
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