Author(s): Abdulfatai O. Sambo , Mwinyi T. Haji

In 2018 Journal VoL.3

By UNIMAID JICOL

The Shari‛ah embraces the Muslims total way of life. Muslims are required to judge theiraffairs in accordance with Islamic law. Those who do not judge with what Allah (s.w.t.) Hasrevealed are not seen as a true believer in the sight of Allah (s.w.t.). Thus, submitting affairsto be judged in accordance with the Shari‛ah is fundamental to the Muslims’ right to reallypractice their religion. To achieve this, sound institutions like the Shari‛ah Courts withadequate powers and jurisdictions need to be put in place to ensure that Muslims properlyjudge their affairs in accordance with the Shari‛ah. Despite this, Shari‛ah Courts in Nigeriaand Zanzibar are faced with a number of challenges which prevent them from properly hearingand determining the Shari‛ah matters placed before them. This is notwithstanding the teamingMuslim populations in these countries. One of such challenges is that the Court is notempowered to decide all Shari‛ah matters. Rather, their jurisdictions have been limited toIslamic personal law. This is in addition to the appellate challenges being faced in the twojurisdictions. The paper discusses these jurisdictional challenges in a comparative natureowing to the similar problems in the two jurisdictions. In doing this, constitutional andstatutory provisions are analysed and interviews conducted with some stakeholders are used

Author(s): Ali Abdulkadir Waziri P.h.D , Halima Doma Ph.D

In 2018 Journal VoL.3

By UNIMAID JICOL

Many emerging economies like Nigeria urgently require huge investment in infrastructure forincreased capital expenditure. Developing countries generally have difficulty in raisingfinancial infrastructure, yet short falls in infrastructure development reduce the quality of lifefor citizens and inhibit productive capacity of economies. Economic growth, quality of life andsupport services essential to the need of citizens depend on robust infrastructure, industrialgrowth, and infrastructure to produce goods at competitive prices. The fact that infrastructureprojects typically have a large scale upfront capital requirement, a long initial period withoutreturns, and extended payback period calls for innovative financial models. Thus, conventionalbonds and Sukuk, attempt to mobilise the funds from surplus spending units to shortagespending units. However, under Islamic Law, there are fundamental risk/return differencesbetween them- money (debt) is the underlying asset in conventional bonds while the underlyingasset in Sukuk is the exact asset. This paper concludes that Sukuk provides for greater returnand financial security than conventional bonds. Although, the CBN Act and BOFIA regulateboth the conventional and Islamic finance. Therefore, the paper recommends that much has tobe done for legislation in Sukuk within the Nigerian Islamic finance industry in order tocompete in the global industry.  

Author(s): Atiku Haliru Said

In 2018 Journal VoL.3

By UNIMAID JICOL

The study examines basic principles of Islamic economic banking system, the work is to bringinto focus viable methods by which an interest free banking will mobilize savings and idle fundsof an economy and make them available for use without engaging into “riba” or (interest). Thestudy put emphasis on the need to correct the impression not only throwing light on thealternative mode of carrying out banking system without interest, but also to analyze otheraims and objectives of an Islamic economics and banking as an instrument of monetary policyin an Islamic economy, the study cover areas or an Islamic economics system which includeits distinction from other ideologies (for instance, communism, capitalism) as well as the roleof Islamic banking in an Islamic economic set tip

Author(s): Hamidu Ardo

In 2018 Journal VoL.3

By UNIMAID JICOL

One of the missions brought by Religion of Islam to mankind is to upgrade thestatus of women and make it equal with status of men. Before the coming of Islamthere was a culture of ignorance which Arabs practice by burying their daughtersalive, because they think it is a burden or disgrace to members of the family.1 WhenIslam came, this culture or tradition was totally abolished, and women wererecognised as individual who have right of inheritances2. The Holy Qur’an clearlyasserted equality to both genders, for instance it is stated that God has createdmales and females with the aim to acquaint themselves with each other.3 Thegeneral principles of sharia is that the duties and rights of women are equal to thoseof men, thus the rights and duties of men and women are identical. women havebeen assigned some duties towards men and also men have been assigned certainduties towards women. This was explain by the provision of Quaran which says:“And they (women) have rights similar to those of (men) over them in kindness’’4This paper will state the equality between men and women as provided in theQuaran, hadith and other sources of Islamic law, and it recommend that peopleshould be educated to know that Islam does not discriminate between men andwomen , in the sight of Allah both of them are equal.The Almighty Allah says: “For Muslim men and women, for believing men and women. For devout menand women, for true men and women, for men and women who are patient andconstant, for men and women who humble themselves, for men and women whogive in charity, for men and women who fast (and deny themselves) for men andwomen who guard their chastity, and for men and women who engage much inAllah’s praise, for them has Allah prepared forgiveness and great reward”56In the above verse of Holy Quran Almighty Allah has equated female with theircounterparts. Islam regard women and men as human being of the same essencecreated them from a single soul. Both of them has complete independentpersonality in Islam. In this paper I will focus on the issues of gender equality underIslam.