Browse by Author "Fathimath Nashwa Badeeu"
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- PublicationDeveloping regional healthcare facilities in Maldives through mudharabah perpetual sukukFathimath Nashwa Badeeu; Aminath Reesha Nafiz; Aishath Muneeza (New Millennium Discoveries, 2019)
The purpose of this paper is to identify the underlying issues of healthcare system in Maldives in order to provide an understanding of the challenges facing healthcare providers in islands and atolls in a wider context. The paper scrutinizes the financial burden faced by the current healthcare system in Maldives. It also proposes shariah compliant mechanism that can be utilized to minimize financial burden in a long-term basis. It is hoped that the outcome of the research will assist the policymakers of Maldives to devise a shariah compliant mechanism to finance the development of atoll and island health facilities in a sustainable manner.
- PublicationNeed to pioneer Islamic tourism in tourist resorts in MaldivesZakariya Mustapha; Fathimath Nashwa Badeeu; Aminath Reesha Nafiz; Aishath Muneeza (Emerald Publishing Limited, 2020)
The purpose of this paper is to formulate ways in which Maldives could pioneer Islamic tourism on a befitting framework and financing structure as a leverage to develop its tourism industry. The research uses qualitative approach whereby primary and empirical data on tourism practices as well as relevant laws and guidelines, issued in Maldives and in other Muslim jurisdictions of the Muslim, are analyzed. Doctrinal approach is used in analyzing secondary data on the subject. The research reveals the potential of Islamic tourism in Maldives as well as the challenges that have constrained its development in the country. Certainty is needed in halal products, services and conducts. Codifying extant Maldives Halal Tourism Standards will establish legal framework for a standard Shariah-compliant tourism industry. Islamic financing structure enables mobilizing required funds and address financing constraints.
- PublicationStriving for authenticity: enhancing Shariah-compliance in home financing products within Malaysia's Islamic finance industryFathimath Nashwa Badeeu; Aishath Muneeza (International Research Centre of Islamic Economics and Finance (IRCIEF), Kolej Universiti Islam Antarabangsa Selangor (KUIS), 2023)
Islamic finance, founded on the principles of promoting genuine economic activities through Shariah-compliant commercial contracts, has evolved significantly since its formal institutionalisation in the 1960s. However, the prevailing focus on rule-based Shariah compliance rather than authentic economic engagement has raised pertinent questions about the industry's direction. This study aims to scrutinise the landscape of Islamic finance products employed in home financing within Malaysia and explore avenues to enhance authenticity in Islamic finance. Employing a qualitative approach, utilising the content review method to investigate the subject matter, the research identifies a prevalent reliance on tawarruq contracts among Malaysian banks' home financing products. This overreliance on tawarruq prompts concerns regarding the authenticity and Shariah compliance of these financial instruments. The study emphasises the imperative need to address this challenge and offers a set of recommendations to bolster the authenticity and Shariah compliance of home financing products. Key among these recommendations is the call to move away from tawarruq-based contracts, drawing inspiration from countries like Oman, where tawarruq is generally prohibited except in exceptional circumstances. This proactive shift towards authenticity can pave the way for Malaysia's Islamic finance sector to offer more genuinely Shariah-compliant financial solutions and align more closely with the industry's core objectives of promoting economic justice and ethical financial practices.
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