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- ItemROLE OF ISLAMIC LAW IN THE EFFICIENT MANAGEMENT OF DEBT IN NIGERIA(2023-12-31) Ahmed Abiodun Muhammed-Mikaaeel; Aishat Abdul-Quadri ZubairIntroduction to The Problem: Nigeria's Real Gross Domestic Product (GDP) stood at N20.33 trillion in the fourth quarter of 2021, growing at a rate of 3.98 percent (year-on-year) in real terms, marking the fifth consecutive quarter of positive growth since the recession of 2020. Despite this positive growth, the economy is said to be in serious crisis. It is therefore shocking to realize that the Nigerian government takes more debt to service the existing ones. This is not sustainable as the country will continue to deepen in debts that will worsen the economic crisis it already finds itself which is against the principle of Shari’ah wealth Management. Purpose: The purpose/objective of this study is to examine the role of Islamic law in the efficient management of debt in Nigeria. To this end, the study seeks to expose the effect of the economic crisis that leads to huge borrowing for Nigeria as a country which is now becoming scary. In the same vein, the study also aims at showcasing that there exists great solution to the Nigerian economic woe under Shari’ah jurisprudence. Methodology:The Methodology employed in this study is purely doctrinal method of legal research. Hence, the study places reliance principally on the available literature by which the study explores relevant materials such as text books, journals and internet facilities. Importantly, the study finds most useful the primary sources of Shari’ah which are the Qur’an and Sunnah as well as the secondary sources which include Qiyas and Ijma’. Findings: The study finds that the economic crisis which Nigeria has found itself as a result of the multiplier effect of excessive public borrowing cannot be divorced from the adoption of the conventional economic system. The result reveals further that Islamic law plays significant roles in the efficient management of debt as was confirmed in the Malaysian Shari’ah compliant public debt management practices. The study proposes, by way of recommendation, the practice of Islamic Wealth Management to cushion the effect of the deficit budgets and the onerous debts on Nigeria and increase investment activities with a view to impacting positively on the country’s GDP. The study is therefore most relevant to the policymakers in the Ministry of Finance, Debt Management Office, as well as the Lawmakers in the country.
- ItemLEGAL CONUNDRUM OF AMNESTY GRANT AS MECHANISM FOR COMBATING TERRORISM IN NIGERIA: SHARI’AH STANDPOINT(Department of Islamic Law, University of Maiduguri, 2023-12-31) Onikosi A. Ahmeed; Ahmed Abiodun Muhammed-MikaaeelAmnesty grant is one of the powers conferred on the President or the Governor as the case may be under the Nigerian constitution. The scope of amnesty grant covers pardoning of offenders before and after prosecutions. Nigerian government has over the year granted amnesties to offenders covering the foregoing. However, the legal conundrum cropped up with respect to amnesty granted prior to offenders’ prosecution. The validity of the earlier actions remains questionable due to the constitutional inadequacy. This paper thus examines the legal conundrum of the amnesty grant as mechanism for combating terrorism in Nigeria from Shari’ah standpoint vide doctrinal method of legal research. The paper reveals that the Nigerian legal regime is adequate with respect to grant of amnesty to offenders after convictions. The grant of amnesty prior to prosecution remains a serious legal issue as a result of legislative inadequacy. The paper finds that such inadequacy is absent in the jurisprudence of Islamic law as the real focus of amnesty from Shari’ah standpoint is on that exercised in favour of the offender prior to prosecution upon the satisfaction of the requirements of repentance. Borrowing leaf from Shari’ah standpoint, amendment of the legal framework for amnesty grant in Nigeria is accordingly recommended to put an end to the legal conundrum.
- ItemAN EXAMINATION OF EMPLOYMENT OF A NON-MUSLIM IN ISLAMIC ORGANISATION(2024-06) Salman, Kamaldeen OlaitanThe world is created in such a way that no one can completely exist independent of another especially when it comes earning a living. Thus, engagement in one employment or the other becomes inevitable. In view of the inability of the government to provide employment for all and sundry, private organisations sprung up to fill the large vacuum within their limited capacities with faith-based organisations not left out. The problem of job and employment discrimination thus ensued. Hence the topical debate whether a non-Muslim can be employed in an Islamic organizational setting. The study relies on the doctrinal method of legal research to examine the legal implication of Qur’an Chapter 4 verse 144 on employment of non-Muslims in an Islamic organizational setting. The study explores the general rules and exceptions pertaining to non-Muslim employments in an Islamic organization. The study finds that the positions of Islamic jurists founded on the Sunnah of Prophet Muhammad copiously supported employment of non-Muslims in Islamic organization with satisfaction of certain conditions precedent including observance of non-discrimination, meeting job requirements and qualifications, respecting religious beliefs of one another within the organizational setting and legal considerations. The study recommends active employments of non-Muslims in Islamic organisations as a way of showcasing the beauty of Shari’ah principles to the non-Muslims for proper inevitable human peaceful co-existence
- ItemIntellectual Property Rights for Innovations on the Internet: The Islamic Law Requisites(Brill, 2018) Ishola, Abdullahi Saliu; Solahudeen, Olawale Isa; Akangbe, IbrahimIntellectual property (IP) protection has attracted diverse views among Islamic law researchers, leading to its eventual acceptance on the premise of indirect legal authority by most Muslim scholars. This paper explores the preconditions that any innovation on the internet must meet to enjoy IP protection under Islamic law. It provides working tools for Muslims on the principles to be observed in seeking IP protection for any of their innovations. It also urges governments of Muslim countries which have hitherto refused to accord legal protection to IP on religious grounds to change their position.
- ItemInsurable Interest in Takaful: A Theoretical Contrivance for Islamic Insurers(International Journal of Economics and Financial Issues, 2016) Abdul Azeez, Yusuf; Ishola, Abdullahi SaliuThe Takaful (Islamic Insurance) is not only a key branch of the Islamic Financial System but also one of the important Islamic financial instruments and a strong tool for managing individual risks and business overturns. In terms of operational models, it shares some business setups with Islamic banking, and in a way, it is regarded as “a modern technical approach to Islamic banking operation,” for it evolved, like Islamic banking, from the determination of Muslims to revive the Islamic way of life, particularly in the reorganization of finance and economy; an exertion often described as a very difficult jihad: Building a financial system where interest does not exist. Accordingly, this research attempts to propound some theories for assessment of insurable interest in Islamic insurance (Takaful). The theories, as analyzed are intended to serve as working tools for the present and future Islamic insurers, without limitation to differences in place and space. In doing this, the work is divided into five parts. The first part introduces the study while terminology clarification is undertaking in the second part. The third part examines the legal basis for the insurable interest in Takaful, while the conceptual precepts for the development and application of the theories are taken up in the fourth part with certain relevant study inferences forming the concluding part.