Papers by Shehu Nasiru Muhammad
International Journal of Excellence, Noor Beshr El-Baydh University Centers, Algeria, 2023
Blockchain as the type of a ledger in which value-exchange transactions (in the form of cryptocur... more Blockchain as the type of a ledger in which value-exchange transactions (in the form of cryptocurrencies, tokens or information) are sequentially grouped into blocks. Each block contains a signature that is based on the exact content (string of data) of that block. Blockchain increases transparency in the banking industry by providing a clear and accessible record of transactions as it streamline and reduces the time and cost of the banking processes. It also helps financial institutions to comply with regulatory requirements, by providing a secure and verifiable record of customer identity information. Blockchain technology has the potential to make a significant impact on Islamic finance and will surely help the Islamic financial institutions (IFIs) to enhance and harness their potentials productively. This paper uses agency theory and adopted qualitative approach in analyzing the significant use-cases as well as challenges of innovative technology ―Blockchain‖ in Islamic finance industry. The paper discussed the various interesting applications of blockchain in Islamic finance that can bring different benefits. The paper also shed light on the challenges facing Applying Blockchain for Islamic finance and lastly the paper suggest that IFIs should study how blockchain works and possible way of using it in Islamic finance
Al-Hikmah Journal of Islamic Studies, Umaru Musa Yaradua University, Nigeria. Vol. 9, No.IV, 2021
Micro-Takaful is offered to provide future financial protection and finance for low income earner... more Micro-Takaful is offered to provide future financial protection and finance for low income earners including the small and medium enterprises. It also means Takaful product that is designed to respond to the financial protection needs of low-income households. The study intends to contribute to a better understanding of micro-Takaful among entrepreneurs, researchers, practitioners and policy-makers in the finance industry of Nigeria. The significance of this study is derived from the importance of its subject; it will not seek to justify the prospects of Micro-Takaful only, but rather to seduce entrepreneurs and Investors so as to benefit from the highly developed regulations and applications worldwide. The study uses exploratory research design. Therefore, this study recommends that, National Insurance Commission should strengthen cooperation between state institutions, small and medium enterprises development agency and micro-Takaful companies to provide financing for microenterprises. And takaful companies should design and develop innovative insurance products suitable and affordable for SMEs. And establish a robust environment for social solidarity to benefit from its spread, growth and prosperity.
International Journal of Political and Administrative Studies, Hasbiyat bin Bau'aly University, Algeria, 2020
A Waqf creates and preserves long term assets that generate income flows, or indirectly helps the... more A Waqf creates and preserves long term assets that generate income flows, or indirectly helps the process of production and creation of wealth. A (Waqf) is one of the major financial hubs and source of finance of Muslim economy. Being it (Waqf) a bank however, can pave a way to reaching its maximum capacity utilization. Therefore, a Waqf when sophisticatedly structured as a bank offering micro-financing service could definitely help towards reducing poverty within Muslim communities in Nigeria. Hence, a cherished dream of Muslim ummah to have an interest-free economy became reality in Nigeria. Thus; a Waqf can be a bank. Remarkably then, a Waqf-bank will not only grow the Waqf fund, but equally uplift the entrepreneurial enthusiasm of the poor to income generation and consequently poverty reduction. This is clear as the poverty incident became part and parcel of Muslim communities, which trend is likely to continue unless an appropriate alternative measures such as Waqf are employed. Therefore, with the viable and veritable products and services offered by Islamic Micro-finance bank, a Waqf-bank as a similar institution could by appreciating and adopting the model, support the economy of the poor's, and effectively sustain the life of it. Notwithstanding, the paper is to explore the potentials for Wqqf as a microfinance bank in Nigeria.
Drafts by Shehu Nasiru Muhammad
Sustainable development is not a new concept to Islam, sustainable development principles have ex... more Sustainable development is not a new concept to Islam, sustainable development principles have existed for centuries in the Holy Qur'an and the Hadith. However, the transformation of the society and the world's economy on a sustainable basis is one of the most significant challenges in the 21st century. This implies that one of human kind's greatest challenge in this century is to ensure sustainable, just and balanced development because the needs of the current and future generations cannot be met unless there is respect for natural system and protecting core economic, social and environmental values. The Islamic perspective embraces that everything on earth is created for humanity and God awards it to people. Islam allows the use of the natural environment without involving unnecessary destruction. Shari'ah views that human activities should support environment, and protection of people's rights, and needs ensuring that human activities do not compromise the essentials of social, economic and natural systems either now or in the future. However, the paper provides a model of Maqasid al-Shari'ah as a basis of sustainable development, a model that's centered on the notion of human dignity which is based on the six pillars that uphold dignity: justice, intellectual knowledge and education, social welfare, human stewardship of natural resources, wealth and economic activities, and Public interest. Sustainable development in the context of Islam is taken as an opportunity to refresh the relationship between human being and environment. This paper argues that the Islamic approach is more agreeable to environmental protection and concludes that issues surrounding sustainable development have moral, ethical, social, and political complexities and that economics or economists alone cannot resolve the problem.
Conference Presentations by Shehu Nasiru Muhammad
Afak for Science Journal, 2022
Peaceful coexistence between religions in this contemporary age is both an individual and societa... more Peaceful coexistence between religions in this contemporary age is both an individual and societal necessity. It is particularly important given the interconnectedness of today's world in various areas such as politics, economics, society and culture. This article examines the concept of coexistence and its importance between Muslims and non-Muslims. Also this article discusses Prophet Muhammad's strategies in actualizing peaceful coexistence between Muslims and the people of Book (where a desired pluralistic society in which citizenship and equal rights were granted to all people regardless of religious beliefs and practices). The Covenants of the Prophet Muhammad with the Christians and Jews are used as a framework for analysis. The article campaigns for reviving the egalitarian spirit of the Covenants by refocusing our understanding of the Ummah as a site for religious freedom and civil rights, and can be used to develop a stronger narrative of democratic partnership between Muslims and Christians in the " Islamic world " and beyond.
Books by Shehu Nasiru Muhammad
Cultural Sustainability, Performance and the Sustainable Development Goals in Time of Crises, 2020
Islam allows the consumption of the natural environment without involving unnecessary destruction... more Islam allows the consumption of the natural environment without involving unnecessary destruction. Shari'ah views that human activities should support environment, and protection of people's rights, and needs ensuring that human activities do not compromise the essentials of social, economic and natural systems either now or in the future. One of human kind's greatest challenge in this century is to ensure sustainable, just and balanced development because the needs of the current and future generations cannot be met unless there is respect for natural system and protecting core economic, social and environmental values. The aim of this study is to provide a paradigm of Islam on sustainable development. This paper argues that the Islamic approach is more agreeable to environmental protection and concludes that issues surrounding sustainable development have moral, ethical, social, and political complexities and that economics or economists alone cannot resolve the problem.
Uploads
Papers by Shehu Nasiru Muhammad
Drafts by Shehu Nasiru Muhammad
Conference Presentations by Shehu Nasiru Muhammad
Books by Shehu Nasiru Muhammad