利用道琼斯伊斯兰市场指数(DJIMI)案例研究对股票进行伊斯兰教法筛选所需的改革

IF 1.3 Q1 LAW
Rizwan Malik, Humayon Dar, Aishath Muneeza
{"title":"利用道琼斯伊斯兰市场指数(DJIMI)案例研究对股票进行伊斯兰教法筛选所需的改革","authors":"Rizwan Malik, Humayon Dar, Aishath Muneeza","doi":"10.1108/ijlma-08-2023-0171","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>There is no uniform methodology adopted worldwide for Shariah equity screening. The purpose of this research paper is to suggest reforms required to improve Shariah screening methodologies used for equities using Dow Jones Islamic Market Index, which is the world’s first such methodology adopted.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>This research uses a qualitative research methodology that goes beyond analysing secondary data on the subject matter. It includes conducting semi-structured interviews with selected subject matter experts to gain insights into the practical issues associated with existing Shariah screening methodologies. The aim is to identify areas for potential reforms that can be implemented in the future. By combining secondary data analysis with first-hand perspectives from experts, this research provides a comprehensive understanding of the challenges and opportunities in Shariah screening, contributing to the development of practical and effective reforms.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>The study recommends the inclusion of additional filters in Shariah screening methodologies to promote stocks that are not only Shariah-compliant but also socially responsible. It suggests that while a certain level of Shariah non-compliance threshold may be tolerated during the initial screening stage, over time, this accepted threshold should gradually decrease. The ultimate goal is to achieve 0% thresholds for Shariah-compliant equities. By advocating for stricter criteria and a progressive reduction in non-compliance tolerance, the study highlights the importance of continuously improving and refining Shariah screening practices to ensure higher levels of compliance and alignment with Shariah principles.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>It is anticipated that the findings of this research provides original insights and contributions to existing knowledge. It offers novel perspectives, innovative approaches and solutions to address specific areas in need of reform. By focusing on enhancing the effectiveness and standardisation of Shariah-compliant investment practices, the research brings fresh perspectives and adds value to the field. Its unique contribution lies in identifying and addressing emerging challenges and proposing improvements in Shariah screening methodologies.</p><!--/ Abstract__block -->","PeriodicalId":46125,"journal":{"name":"International Journal of Law and Management","volume":"150 1","pages":""},"PeriodicalIF":1.3000,"publicationDate":"2024-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Reforms required for Shariah screening of equities using the case study of Dow Jones Islamic market index (DJIMI)\",\"authors\":\"Rizwan Malik, Humayon Dar, Aishath Muneeza\",\"doi\":\"10.1108/ijlma-08-2023-0171\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<h3>Purpose</h3>\\n<p>There is no uniform methodology adopted worldwide for Shariah equity screening. The purpose of this research paper is to suggest reforms required to improve Shariah screening methodologies used for equities using Dow Jones Islamic Market Index, which is the world’s first such methodology adopted.</p><!--/ Abstract__block -->\\n<h3>Design/methodology/approach</h3>\\n<p>This research uses a qualitative research methodology that goes beyond analysing secondary data on the subject matter. It includes conducting semi-structured interviews with selected subject matter experts to gain insights into the practical issues associated with existing Shariah screening methodologies. The aim is to identify areas for potential reforms that can be implemented in the future. By combining secondary data analysis with first-hand perspectives from experts, this research provides a comprehensive understanding of the challenges and opportunities in Shariah screening, contributing to the development of practical and effective reforms.</p><!--/ Abstract__block -->\\n<h3>Findings</h3>\\n<p>The study recommends the inclusion of additional filters in Shariah screening methodologies to promote stocks that are not only Shariah-compliant but also socially responsible. It suggests that while a certain level of Shariah non-compliance threshold may be tolerated during the initial screening stage, over time, this accepted threshold should gradually decrease. The ultimate goal is to achieve 0% thresholds for Shariah-compliant equities. By advocating for stricter criteria and a progressive reduction in non-compliance tolerance, the study highlights the importance of continuously improving and refining Shariah screening practices to ensure higher levels of compliance and alignment with Shariah principles.</p><!--/ Abstract__block -->\\n<h3>Originality/value</h3>\\n<p>It is anticipated that the findings of this research provides original insights and contributions to existing knowledge. It offers novel perspectives, innovative approaches and solutions to address specific areas in need of reform. By focusing on enhancing the effectiveness and standardisation of Shariah-compliant investment practices, the research brings fresh perspectives and adds value to the field. Its unique contribution lies in identifying and addressing emerging challenges and proposing improvements in Shariah screening methodologies.</p><!--/ Abstract__block -->\",\"PeriodicalId\":46125,\"journal\":{\"name\":\"International Journal of Law and Management\",\"volume\":\"150 1\",\"pages\":\"\"},\"PeriodicalIF\":1.3000,\"publicationDate\":\"2024-05-31\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Law and Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1108/ijlma-08-2023-0171\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"LAW\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Law and Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/ijlma-08-2023-0171","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"LAW","Score":null,"Total":0}
引用次数: 0

摘要

目的全世界都没有采用统一的伊斯兰教法股票筛选方法。本研究论文的目的是提出必要的改革建议,以改进使用道琼斯伊斯兰市场指数进行股票伊斯兰教法筛选的方法,该指数是世界上第一个采用此类方法的指数。它包括与选定的主题专家进行半结构化访谈,以深入了解与现有伊斯兰教法筛选方法相关的实际问题。目的是确定未来可实施改革的潜在领域。通过将二手数据分析与专家的第一手观点相结合,本研究提供了对伊斯兰教法筛选中的挑战和机遇的全面理解,有助于制定切实有效的改革措施。研究结果本研究建议在伊斯兰教法筛选方法中纳入额外的筛选条件,以促进不仅符合伊斯兰教法而且对社会负责的股票。研究建议,虽然在初始筛选阶段可以容忍一定程度的不符合伊斯兰教法的阈值,但随着时间的推移,这一可接受的阈值应逐渐降低。最终目标是使符合伊斯兰教法的股票的门槛达到 0%。通过倡导更严格的标准和逐步降低违规容忍度,该研究强调了不断改进和完善伊斯兰教法筛选实践的重要性,以确保更高水平的合规性和与伊斯兰教法原则的一致性。它为解决需要改革的具体领域提供了新的视角、创新方法和解决方案。通过重点关注提高符合伊斯兰教法的投资实践的有效性和标准化,本研究为该领域带来了新的视角并增加了价值。它的独特贡献在于识别和应对新出现的挑战,并提出改进伊斯兰教法筛选方法的建议。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Reforms required for Shariah screening of equities using the case study of Dow Jones Islamic market index (DJIMI)

Purpose

There is no uniform methodology adopted worldwide for Shariah equity screening. The purpose of this research paper is to suggest reforms required to improve Shariah screening methodologies used for equities using Dow Jones Islamic Market Index, which is the world’s first such methodology adopted.

Design/methodology/approach

This research uses a qualitative research methodology that goes beyond analysing secondary data on the subject matter. It includes conducting semi-structured interviews with selected subject matter experts to gain insights into the practical issues associated with existing Shariah screening methodologies. The aim is to identify areas for potential reforms that can be implemented in the future. By combining secondary data analysis with first-hand perspectives from experts, this research provides a comprehensive understanding of the challenges and opportunities in Shariah screening, contributing to the development of practical and effective reforms.

Findings

The study recommends the inclusion of additional filters in Shariah screening methodologies to promote stocks that are not only Shariah-compliant but also socially responsible. It suggests that while a certain level of Shariah non-compliance threshold may be tolerated during the initial screening stage, over time, this accepted threshold should gradually decrease. The ultimate goal is to achieve 0% thresholds for Shariah-compliant equities. By advocating for stricter criteria and a progressive reduction in non-compliance tolerance, the study highlights the importance of continuously improving and refining Shariah screening practices to ensure higher levels of compliance and alignment with Shariah principles.

Originality/value

It is anticipated that the findings of this research provides original insights and contributions to existing knowledge. It offers novel perspectives, innovative approaches and solutions to address specific areas in need of reform. By focusing on enhancing the effectiveness and standardisation of Shariah-compliant investment practices, the research brings fresh perspectives and adds value to the field. Its unique contribution lies in identifying and addressing emerging challenges and proposing improvements in Shariah screening methodologies.

求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
CiteScore
3.90
自引率
6.70%
发文量
13
期刊介绍: The International Journal of Law and Management is a leading journal addressing all aspects of regulation and law as they impact on organisational development, operations and leadership. Organisations and their leaders operate in an increasingly complex world of emerging regulation across national and international boundaries. The International Journal of Law and Management seeks to acknowledge the dynamics of that environment and provide a platform for articles and contributions to stimulate scholarly debate in the development of law and practice. The International Journal of Law and Management seeks to present the latest research on policy, practice and theoretical perspectives and their impact on the development and leadership of organisations. Contributions of a multi-disciplinary nature are welcome. Coverage includes, but is not limited to: -Employment and industrial law- Corporate governance and social responsibility- Intellectual property- Corporate law and finance- Insolvency- Commercial law and consumer protection- Environmental law- Taxation- Competition law- Regulatory theory
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信