Shari’ah-Compliant Trading: An Assessment of Current Practices in Nigeria
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2018, Vol 8, Issue 5
Abstract
Despite the fact that Nigeria has a Muslim majority population, the shari’ah compliance of trading activities in the country do not seem to be carried along with the Islamic economic development reached at globally. This paper is set out to provide a review of the current situation using a conceptual approach, in order to highlight on the current level of development and pave the way for further studies on developing the economy towards complying with the shari’ah in the trading activities conducted in the country. Major findings of the paper are that some irregularities in regards with the shari’ah compliance do occur in most of the trading centers in the country which need to be addressed, while more Islamic banks and financial institutions should be established and more regulations and regulatory bodies have to be constituted to accomplish the conduction of trading in accordance with the shari’ah.
Authors and Affiliations
Baba Uba Ibrahim, Ahmad Azrin Adnan
Keywords
Related Articles
- EP ID EP562758
- DOI 10.6007/IJARBSS/v8-i5/4218
- Views 87
- Downloads 0
The Principle of Interaction between Revelation and Mind under Islamic Perspective
Revelation is the fundamental source of Islamic teachings and it consists of two main areas; the Quran and al-Hadith. Both these sources describe the matters related to the teachings of Islam that consist of faith and sy...
The Inner Knowledge (‘Ilm Al-Batinah) of good deeds according to Iman Al-Ghazali
This article analyses al-Ghazali’s theory of the Inner Knowledge (‘Ilm al-Batinah) of good deeds or devotional acts (‘ibadah). This article is theoretical in nature, and it involves bibliographic research, employing desc...
Exploring the Dimensions of Customer-Based Brand Equity on Firm Performance: A Study of Azam Brand
Although Tanzania market is deluged with value-for- money brands since decades ago, not all Tanzania brands achieved national recognition. The objective of this research therefore is to develop a valid and reliable model...
Constructive Interaction in a Learning Environment: An Emerging Theoretical Model and New Notion for SDLR
How one being readied for learning? Self-Directed Learning (SDL) has been equated to Student-Centred Learning (SCL) in its implementation, despite it being defined as “Learning with or without the help of others in achie...
The Cause of Non-Performing Loan in Retail and Commercial Working Capital (Case of Bank XYZ in Province Nanggroe Aceh Darussalam)
The purpose of this research is to study and analyze the determinant factors of non-performing loan in retail and commercial working capital commercial banks’ interest margin in Province Nanggroe Aceh Darussalam (NAD) In...