Said Adekunle Mikail


  Title Category / Type

Framework for financial hardship indebtedness management in abandoned housing projects in Malaysia

Purpose This paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Shariah and statutory requirements. Design/methodology/approach This study employs the qualitative research method using…

Journal (English)

Takaful Shariah Audit Manual - A Proposal

Takāful Sharīʿah Audit Manual: A Proposal Executive Summary Sharīʿah compliance is one of the main factors that many stakeholders are most concerned with when it comes to Islamic financial institutions (IFI’s), and takāful operators (TOs) are no exception. No products,…

Research Paper

Utilisation of Zakah and Waqf Funds in Micro-Takaful in Malaysia: An Exploratory Study

Micro-takāful is a Sharīah-compliant mode of protection for poor and underserved communities against risks and misfortunes. Regular takāful is business-oriented and targets participants with financial capabilities. Micro-takāful, on the other hand, is dedicated to low-income groups that are partly or…

Research Paper

Utilisation of zakāh and waqf fund in micro-takāful models in Malaysia: an exploratory study

Purpose – This paper aims to investigate the utilisation of both zakāh and waqf fund as external resources to ensure micro-takāful services are delivered to underserved communities in an effective and sustainable manner. It also addresses Sharīʿah issues related to…

Journal (English)


T he concept of beneficial ownership has long been established in Anglo-American common law through the development of trust law aiming at distinguishing beneficial ownership from legal ownership. Unlike the common law, civil law does not have provisions for trust…


Shari’ah Contracts Underpinning Musharakah Mutanaqisah Financing: A Conceptual Analysis

 This paper examines the Shari‘ah contracts applicable in musharakah mutanaqisah financing (MMF) (diminishing partnership) and possible Shari‘ah issues arising from the combination of different Shari‘ah contracts to effect the financing. The paper employs the qualitative research method, using textual and…

Journal (English)

Debt from Shariah and Economic Perspectives: Concepts, Issues and Implications

Stakeholders in the Islamic finance industry have been debating the relative importance of debt-based and equity-based financing for decades. Islamic economists generally advocate a shift toward equitybased instruments while some Sharīʿah advisors and practitioners defend the existing reliance on debt-based…

Research Paper

Zakah on Non-Current Bank Debts: Evaluation of the Theoretical Framework

In the name of Allah, Most Merciful, Ever- Merciful Although the issue of zakāh on non-current banking debts has been repeatedly treated by fiqh councils and in zakāh conferences, the final word on it has not yet been spoken. That…

Research Paper

The Incorporation of Guarantee in Musharakah Mutanaqisah Financing from the Shari‘ah Perspective

ISRA Bloomberg Bulletin Fatwa in Islamic Finance

Introduction to Takaful: Concepts & Models - November 2014 - Fatwa in Islamic Finance

ISRA Bloomberg Bulletin Fatwa in Islamic Finance

Protecting Takaful against the Risk of Failure: A Critical Appraisal of the Takaful Benefits Protection System (TBPS) in Malaysia

The establishment of the Takaful and Insurance Benefits Protection System (TIPS) in Malaysia is a statutory requirement. TIPS aims to ensure financial stability, soundness and public confidence. Perbadanan Insurans Deposit Malaysia (PIDM), known internationally as the Malaysia Deposit Insurance Corporation,…

Research Paper

Offering MRTT for the Borrowers of Conventional Housing Loans: An Analysis from a Shariah Perspective

Mortgage Reducing Term Takaful, commonly known as MRTT, is an Islamic alternative to Mortgage Reducing Term Assurance, commonly known as MRTA. The latter is a type of conventional life insurance mainly designed for homeowners to secure their outstanding loans. It…

Research Paper

Istisna’ Sukuk: A Preliminary Glimpse - April 2014 - Fatwa in Islamic Finance

ISRA Bloomberg Bulletin Fatwa in Islamic Finance

The Fiqh Characterization of Ijarah Mawsufah fi Al-Dhimmah: An Analysis of Juristic Views

This study discusses the conceptual framework of ijarah and the characteristics of salam to determine the fiqh characterization of ijarah mawsufah fi al-dhimmah, and the most relevant contract applicable in ijarah mawsufah fi al-dhimmah

Journal (English)


  Title Author

Inside Islamic Finance - Episode 4 (IRP 81 with Sheikh Dr. Riaz Ansary)

Debt from Shariah and Economic Perspectives: Concepts, Issues and Implications Authors: Hafas Furqani, Mohamad Akram Laldin, Riaz Ansary, Said Adekunle Mikail, Tawfik Azrak   Read paper...

Riaz Ansary, Said Adekunle Mikail

Inside Islamic Finance - Episode 5 (IRP 95 with Dr. Said Adekunle Mikail)

Join Dr. Riaz Ansary and Dr. Said Adekunle Mikail discuss ISRA's Research Paper: "Utilisation of Zakah and Waqf Funds in Micro-Takaful in Malaysia: An Exploratory Study" in the fifth episode of Inside Islamic Finance.  

Riaz Ansary, Said Adekunle Mikail