Mehboob-ul Hassan | King Saud University (original) (raw)
Published Papers by Mehboob-ul Hassan
Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular... more Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular and liberal discourse defines the basis of capitalism rather. Due to this the conception of economic justice in the two discourses is expected to differ substantially. A significant amount of literature on Islamic economics, finance and banking doesn’t seem to explicitly highlight this difference. Due to this perhaps the Islamic financial industry is measuring its performance as per the standards of its mainstream financial industry. This study would emphasize and elaborate these differences so that the concerned can appropriately evaluate the outcome of their decisions and practices in the domain of Islamic economics and finance. The paper will compare the theory of justice and economic justice in the two respective discourses. A conceptual analysis which follows provides basis for policy recommendations. The ideals of justice of both ideologies are two poles apart, and no overlap exists between the two at least at conceptual levels due to their contradicting epistemological and metaphysical positions. The study is exclusively normative and discussion from pragmatic perspective is beyond its scope. Such a comparison doesn’t exist in literature as per the limited knowledge of author. This study would have implications for policy makers and practitioners while adapting structures, institutions, policies, frameworks, etc. from the western world as they would have to be altered to an extent to make them compatible to advance Islamic conception of justice in Muslim societies, if that by any means is possible.
Papers by Mehboob-ul Hassan
Jurnal Syariah, Mar 12, 2022
Branding is generally regarded as a unique approach for brand equity that enhances the corporate ... more Branding is generally regarded as a unique approach for brand equity that enhances the corporate reputation of stakeholders. Insurance firms acknowledge and handle goods in a changing business environment as important assets. Brand is a system with multi-dimensional principles that satisfy consumers' wants, expectations and needs, including practical and emotional elements. One of the branding goals is to distinguish the brand from its unique and valued characteristics. If the brand is an important element in every marketing effort, it must be recognized that its equity definition is appropriate. Insurance companies attempt to maintain brand resources and other methods by means of suitable brand distinctiveness. This paper attempts to describe the aspects of specialized literature. Since Saudi insurance is such a recent phenomenon, it has not undergone a critical analysis of whether it fulfils the requirements for takaful insurance or not.
The emergence of Islamic banking and financial institutions as a potential counter part of conven... more The emergence of Islamic banking and financial institutions as a potential counter part of conventional banking and financial institutions can be regarded as one of the manifestations of the Islamic renaissance in the present world. It should be remembered that Islamic banking and finance is only one twig of Islamic economics which itself is a branch of the Islamic tree. The knowledge of Islamic economics is historically determined and is closely interwoven with the Islamic socio-political revival or simply the Islamic renaissance movement. What we know today about Islamic economics, perhaps the very existence of today’s Islamic banking and financial institutions owes a great deal to the endeavors of Muslim thinkers and activists over the last three centuries; from Shah Waliullah to Ahmad Shaheed; from Sir Ahmad Khan and Jamaluddin Afghani to Muhammad Iqbal and M. A. Jouhar to Manazir Ahsan Geelani, M. Uzair, Anwar Iqbal Qureshi and Mawdudi; and from Mawdudi to Umer Chapra, Khurshid...
Journal of Risk and Financial Management
This paper aims to explore the practices of Ijarah financing by Islamic banks in Pakistan pertain... more This paper aims to explore the practices of Ijarah financing by Islamic banks in Pakistan pertaining to compliance with the AAOIFI Shariah Standard (9) on Ijarah financing. Primary data were gathered from the respondents of the five (5) full-fledged Islamic banks in Pakistan by administering semi-structured face-to-face interviews along with secondary data obtained from the contractual agreements on Ijarah financing. Qualitative content analysis was undertaken by employing NVivo software. The findings reveal discrepancies in the practices of Ijarah financing pertaining to two clauses of the AAOIFI Shariah Standard and emerging major challenges and/or problems facing the Islamic banking industry, including (1) a lack of standardization, (2) an insufficient regulatory and supervisory framework, and (3) a dearth of awareness of the Islamic banking products and/or takaful operations (especially among corporate customers). The study accrues both academic and practical implications. It no...
Many thoughts have been given to the economics since the beginning of Enlightenment Movement of t... more Many thoughts have been given to the economics since the beginning of Enlightenment Movement of the seventeenth and eighteenth century, but never in the history of mankind has economics assumed the importance it has today. Later on, during the second half of 19th century to the beginning of 20th century it passed through a revolutionary changing phase. Economics, hitherto a subsidiary of social sciences and fully integrated with moral norms and ethics, segregated from its main discipline and was emerged as an independent, value-neutral, scientific discipline in the West. Western economics intelligentsia, because of secular and materialistic influence, rigorously ponders maximum importance to the engineering outcomes and merely ignores the importance of social-moral paradigm. With this background, the focus of economic development was more on the engineering growth and to fulfill of basic needs and self-interest. This trend has established such firm roots that Joan Robins [1903– 1983...
International Journal of Financial Research, 2019
We examine and compare the performance of 63 (21 Islamic and 42 conventional) GCC banks at two ti... more We examine and compare the performance of 63 (21 Islamic and 42 conventional) GCC banks at two tiers, covering the period of 2010–2016. In the first tier, an industry-level analysis is conducted of each country, followed by an individual bank-level analysis in the second tier. Deposits, assets, and capital are taken as inputs to measure the outputs using data envelopment analysis techniques. At the industry level, we find that Islamic banking is at par with-if not better than-conventional banking in all terms of efficiency. Particularly, banking in Bahrain and KSA is among the best, whereas there is no scope for improvement in the UAE’s banking industry. This low performance could be attributed to a lack of standardization in products and schemes as well as the level of prudence in decision-making, governance, and operations. At the bank level, many Islamic banks perform even better than conventional banks. Most studies on GCC and MENA focus on the determinants and indicators of dev...
The principal reason behind this success is revival of fundamental Islamic values in all over the... more The principal reason behind this success is revival of fundamental Islamic values in all over the world during the past two decades. Muslims of the world are estimated as much as 1.2 billion inhabitants, which are nearly 25% of the world’s total population. The significance of this Muslim population as the target market of Islamic banks in Muslim countries cannot be underestimated. Their continuous support is prelude to ensure the success of this banking system. It is envisaged that the rate of interest on deposits does not matter to a majority of Muslim individuals. They prefer the legitimate or permissible return on their investments no matter this return is low or high as compared to conventional bank’ s interest rate or inflation. Conventional banks are working in Muslim countries too, this is because the majority of Muslim countries was under the colonial rule of European countries. Another important
2 Abstract: Modern economists claim that the strategy of financing inclusion through microcredit ... more 2 Abstract: Modern economists claim that the strategy of financing inclusion through microcredit and micro-financial institutions will ultimately improve the economic conditions of financial marginalized and destitute peoples. These microcredit institutions include both banking and non-banking institutions. But, in Pakistan where the majority of the population adheres to Islam as their code of life, many people are reluctant to impart the conventional micro financial institution on the religious grounds; Islam prohibits Riba in absolute terms. Present paper suggests a transforming change in the present methodologies of financing from conventional to Islamic one. The paper highlights the significance and comparative advantages of Islamic microfinance over conventional finance. Furthermore it claims that Islamic finance is a holistic, viable as well as a dynamic approach towards achieving the greater goals of development through expanding the financial inclusion of greater population....
Journal of the International Institute of Islamic Thought and Civilization, 2018
Saudi Arabia, beside Malaysia and many other Muslim countries, isone of those countries where Isl... more Saudi Arabia, beside Malaysia and many other Muslim countries, isone of those countries where Islamic and conventional bankingoperate in parallel. Over the last decade, the country’s bankingindustry is growing at rapid pace that accounts for the largest sharein GCC. The present study measures and compares the performanceof Saudi conventional and Islamic banking industry and identifies theareas where the strategic measures are required to improve thebanking performance. It applies non-parametric Data EnvelopmentAnalysis (DEA) for the data from 2008-2016 of Saudi bankingindustry and provides comprehensive empirical results at individualbank vis-a-vis industry levels. The empirical results demonstrate amix trend among the banks in achieving technical, pure technical andscale efficiency. It is observed that with the common pledge toexpanding market share and performance, both conventional andIslamic banks have been successful in improving their levels ofefficiency. At individual bank le...
International Journal of Economics, Management and Accounting, 2013
Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular... more Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular and liberal discourse defines the basis of capitalism rather. Due to this the conception of economic justice in the two discourses is expected to differ substantially. A significant amount of literature on Islamic economics, finance and banking doesn’t seem to explicitly highlight this difference. Due to this perhaps the Islamic financial industry is measuring its performance as per the standards of its mainstream financial industry. This study would emphasize and elaborate these differences so that the concerned can appropriately evaluate the outcome of their decisions and practices in the domain of Islamic economics and finance. The paper will compare the theory of justice and economic justice in the two respective discourses. A conceptual analysis which follows provides basis for policy recommendations. The ideals of justice of both ideologies are two poles apart, and no overlap exis...
The study examines the comparative efficiency of Saudi Islamic banking industry which is growing ... more The study examines the comparative efficiency of Saudi Islamic banking industry which is growing at phenomenal rate, therefor the industry is important to study. We use deposits, assets and capital as inputs to measure investments, advances and income by applying Data Envelop Analysis (DEA) for this measurement. Significance of study lies in the largest set of data ranging from 2008-20016. The study is limited to the full-fledged Islamic banks only and economic indicators such as GDP, inflation and interest rate are not included in this study since all the banks are operating in the same economic system. Key findings reveal that in terms of technical and pure technical efficiency, Al-Rajhi is the most efficient bank followed by bank Al-Jazira, while, Al-Inma and Al-Bilad are on third and fourth positions respectively. A further analysis in this particular aspect reveals that the technical and scale efficiency of bank Al-Rajhi starts declining after the year 2012. This low performanc...
... After scrutinizing the works on interest we knew that the well-known scholars namely Dr. M. U... more ... After scrutinizing the works on interest we knew that the well-known scholars namely Dr. M. Uzair, M. Umar Chapra, Anwar Iqbal ... positive opinions to the statements and 'Disagree' are negative opinion to the statements, while neutral responses are neither positive nor negative. ...
Journal of colloid and interface science, Jan 7, 2017
Graphene (GR) is one of the most promising candidates for utilization in the electroanalytical fi... more Graphene (GR) is one of the most promising candidates for utilization in the electroanalytical field because of its superior electrocatalytic activity, excellent electronic conductivity, and high chemical stability. However, the GR sheets usually tend to stack together with π-π interaction. The spontaneous stacking leads to the aggregation of the GR sheets and imposes a negative feedback in the surface area of the GR, which obviously limits its electrochemical application. In this study, nitrogen-doped porous GR (NPGR) with different pore sizes is prepared by using silica (SiO2) as a template. The NPGR exhibits high surface area and porous structure, fulfilling the requirement for supporting materials. Being a support, the structural uniqueness and N dopants of NPGR facilitate the deposition of Pt nanoparticles (Pt NPs). The Pt NPs/NPGR composites integrate the structural properties of NPGR and catalytic properties of Pt NPs. A selective and sensitive electrochemical sensor was succ...
Sensors and Actuators B: Chemical
Journal of Electroanalytical Chemistry
Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular... more Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular and liberal discourse defines the basis of capitalism rather. Due to this the conception of economic justice in the two discourses is expected to differ substantially. A significant amount of literature on Islamic economics, finance and banking doesn’t seem to explicitly highlight this difference. Due to this perhaps the Islamic financial industry is measuring its performance as per the standards of its mainstream financial industry. This study would emphasize and elaborate these differences so that the concerned can appropriately evaluate the outcome of their decisions and practices in the domain of Islamic economics and finance. The paper will compare the theory of justice and economic justice in the two respective discourses. A conceptual analysis which follows provides basis for policy recommendations. The ideals of justice of both ideologies are two poles apart, and no overlap exists between the two at least at conceptual levels due to their contradicting epistemological and metaphysical positions. The study is exclusively normative and discussion from pragmatic perspective is beyond its scope. Such a comparison doesn’t exist in literature as per the limited knowledge of author. This study would have implications for policy makers and practitioners while adapting structures, institutions, policies, frameworks, etc. from the western world as they would have to be altered to an extent to make them compatible to advance Islamic conception of justice in Muslim societies, if that by any means is possible.
Jurnal Syariah, Mar 12, 2022
Branding is generally regarded as a unique approach for brand equity that enhances the corporate ... more Branding is generally regarded as a unique approach for brand equity that enhances the corporate reputation of stakeholders. Insurance firms acknowledge and handle goods in a changing business environment as important assets. Brand is a system with multi-dimensional principles that satisfy consumers' wants, expectations and needs, including practical and emotional elements. One of the branding goals is to distinguish the brand from its unique and valued characteristics. If the brand is an important element in every marketing effort, it must be recognized that its equity definition is appropriate. Insurance companies attempt to maintain brand resources and other methods by means of suitable brand distinctiveness. This paper attempts to describe the aspects of specialized literature. Since Saudi insurance is such a recent phenomenon, it has not undergone a critical analysis of whether it fulfils the requirements for takaful insurance or not.
The emergence of Islamic banking and financial institutions as a potential counter part of conven... more The emergence of Islamic banking and financial institutions as a potential counter part of conventional banking and financial institutions can be regarded as one of the manifestations of the Islamic renaissance in the present world. It should be remembered that Islamic banking and finance is only one twig of Islamic economics which itself is a branch of the Islamic tree. The knowledge of Islamic economics is historically determined and is closely interwoven with the Islamic socio-political revival or simply the Islamic renaissance movement. What we know today about Islamic economics, perhaps the very existence of today’s Islamic banking and financial institutions owes a great deal to the endeavors of Muslim thinkers and activists over the last three centuries; from Shah Waliullah to Ahmad Shaheed; from Sir Ahmad Khan and Jamaluddin Afghani to Muhammad Iqbal and M. A. Jouhar to Manazir Ahsan Geelani, M. Uzair, Anwar Iqbal Qureshi and Mawdudi; and from Mawdudi to Umer Chapra, Khurshid...
Journal of Risk and Financial Management
This paper aims to explore the practices of Ijarah financing by Islamic banks in Pakistan pertain... more This paper aims to explore the practices of Ijarah financing by Islamic banks in Pakistan pertaining to compliance with the AAOIFI Shariah Standard (9) on Ijarah financing. Primary data were gathered from the respondents of the five (5) full-fledged Islamic banks in Pakistan by administering semi-structured face-to-face interviews along with secondary data obtained from the contractual agreements on Ijarah financing. Qualitative content analysis was undertaken by employing NVivo software. The findings reveal discrepancies in the practices of Ijarah financing pertaining to two clauses of the AAOIFI Shariah Standard and emerging major challenges and/or problems facing the Islamic banking industry, including (1) a lack of standardization, (2) an insufficient regulatory and supervisory framework, and (3) a dearth of awareness of the Islamic banking products and/or takaful operations (especially among corporate customers). The study accrues both academic and practical implications. It no...
Many thoughts have been given to the economics since the beginning of Enlightenment Movement of t... more Many thoughts have been given to the economics since the beginning of Enlightenment Movement of the seventeenth and eighteenth century, but never in the history of mankind has economics assumed the importance it has today. Later on, during the second half of 19th century to the beginning of 20th century it passed through a revolutionary changing phase. Economics, hitherto a subsidiary of social sciences and fully integrated with moral norms and ethics, segregated from its main discipline and was emerged as an independent, value-neutral, scientific discipline in the West. Western economics intelligentsia, because of secular and materialistic influence, rigorously ponders maximum importance to the engineering outcomes and merely ignores the importance of social-moral paradigm. With this background, the focus of economic development was more on the engineering growth and to fulfill of basic needs and self-interest. This trend has established such firm roots that Joan Robins [1903– 1983...
International Journal of Financial Research, 2019
We examine and compare the performance of 63 (21 Islamic and 42 conventional) GCC banks at two ti... more We examine and compare the performance of 63 (21 Islamic and 42 conventional) GCC banks at two tiers, covering the period of 2010–2016. In the first tier, an industry-level analysis is conducted of each country, followed by an individual bank-level analysis in the second tier. Deposits, assets, and capital are taken as inputs to measure the outputs using data envelopment analysis techniques. At the industry level, we find that Islamic banking is at par with-if not better than-conventional banking in all terms of efficiency. Particularly, banking in Bahrain and KSA is among the best, whereas there is no scope for improvement in the UAE’s banking industry. This low performance could be attributed to a lack of standardization in products and schemes as well as the level of prudence in decision-making, governance, and operations. At the bank level, many Islamic banks perform even better than conventional banks. Most studies on GCC and MENA focus on the determinants and indicators of dev...
The principal reason behind this success is revival of fundamental Islamic values in all over the... more The principal reason behind this success is revival of fundamental Islamic values in all over the world during the past two decades. Muslims of the world are estimated as much as 1.2 billion inhabitants, which are nearly 25% of the world’s total population. The significance of this Muslim population as the target market of Islamic banks in Muslim countries cannot be underestimated. Their continuous support is prelude to ensure the success of this banking system. It is envisaged that the rate of interest on deposits does not matter to a majority of Muslim individuals. They prefer the legitimate or permissible return on their investments no matter this return is low or high as compared to conventional bank’ s interest rate or inflation. Conventional banks are working in Muslim countries too, this is because the majority of Muslim countries was under the colonial rule of European countries. Another important
2 Abstract: Modern economists claim that the strategy of financing inclusion through microcredit ... more 2 Abstract: Modern economists claim that the strategy of financing inclusion through microcredit and micro-financial institutions will ultimately improve the economic conditions of financial marginalized and destitute peoples. These microcredit institutions include both banking and non-banking institutions. But, in Pakistan where the majority of the population adheres to Islam as their code of life, many people are reluctant to impart the conventional micro financial institution on the religious grounds; Islam prohibits Riba in absolute terms. Present paper suggests a transforming change in the present methodologies of financing from conventional to Islamic one. The paper highlights the significance and comparative advantages of Islamic microfinance over conventional finance. Furthermore it claims that Islamic finance is a holistic, viable as well as a dynamic approach towards achieving the greater goals of development through expanding the financial inclusion of greater population....
Journal of the International Institute of Islamic Thought and Civilization, 2018
Saudi Arabia, beside Malaysia and many other Muslim countries, isone of those countries where Isl... more Saudi Arabia, beside Malaysia and many other Muslim countries, isone of those countries where Islamic and conventional bankingoperate in parallel. Over the last decade, the country’s bankingindustry is growing at rapid pace that accounts for the largest sharein GCC. The present study measures and compares the performanceof Saudi conventional and Islamic banking industry and identifies theareas where the strategic measures are required to improve thebanking performance. It applies non-parametric Data EnvelopmentAnalysis (DEA) for the data from 2008-2016 of Saudi bankingindustry and provides comprehensive empirical results at individualbank vis-a-vis industry levels. The empirical results demonstrate amix trend among the banks in achieving technical, pure technical andscale efficiency. It is observed that with the common pledge toexpanding market share and performance, both conventional andIslamic banks have been successful in improving their levels ofefficiency. At individual bank le...
International Journal of Economics, Management and Accounting, 2013
Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular... more Epistemological and metaphysical foundation of Islam is distinct from that of capitalism. Secular and liberal discourse defines the basis of capitalism rather. Due to this the conception of economic justice in the two discourses is expected to differ substantially. A significant amount of literature on Islamic economics, finance and banking doesn’t seem to explicitly highlight this difference. Due to this perhaps the Islamic financial industry is measuring its performance as per the standards of its mainstream financial industry. This study would emphasize and elaborate these differences so that the concerned can appropriately evaluate the outcome of their decisions and practices in the domain of Islamic economics and finance. The paper will compare the theory of justice and economic justice in the two respective discourses. A conceptual analysis which follows provides basis for policy recommendations. The ideals of justice of both ideologies are two poles apart, and no overlap exis...
The study examines the comparative efficiency of Saudi Islamic banking industry which is growing ... more The study examines the comparative efficiency of Saudi Islamic banking industry which is growing at phenomenal rate, therefor the industry is important to study. We use deposits, assets and capital as inputs to measure investments, advances and income by applying Data Envelop Analysis (DEA) for this measurement. Significance of study lies in the largest set of data ranging from 2008-20016. The study is limited to the full-fledged Islamic banks only and economic indicators such as GDP, inflation and interest rate are not included in this study since all the banks are operating in the same economic system. Key findings reveal that in terms of technical and pure technical efficiency, Al-Rajhi is the most efficient bank followed by bank Al-Jazira, while, Al-Inma and Al-Bilad are on third and fourth positions respectively. A further analysis in this particular aspect reveals that the technical and scale efficiency of bank Al-Rajhi starts declining after the year 2012. This low performanc...
... After scrutinizing the works on interest we knew that the well-known scholars namely Dr. M. U... more ... After scrutinizing the works on interest we knew that the well-known scholars namely Dr. M. Uzair, M. Umar Chapra, Anwar Iqbal ... positive opinions to the statements and 'Disagree' are negative opinion to the statements, while neutral responses are neither positive nor negative. ...
Journal of colloid and interface science, Jan 7, 2017
Graphene (GR) is one of the most promising candidates for utilization in the electroanalytical fi... more Graphene (GR) is one of the most promising candidates for utilization in the electroanalytical field because of its superior electrocatalytic activity, excellent electronic conductivity, and high chemical stability. However, the GR sheets usually tend to stack together with π-π interaction. The spontaneous stacking leads to the aggregation of the GR sheets and imposes a negative feedback in the surface area of the GR, which obviously limits its electrochemical application. In this study, nitrogen-doped porous GR (NPGR) with different pore sizes is prepared by using silica (SiO2) as a template. The NPGR exhibits high surface area and porous structure, fulfilling the requirement for supporting materials. Being a support, the structural uniqueness and N dopants of NPGR facilitate the deposition of Pt nanoparticles (Pt NPs). The Pt NPs/NPGR composites integrate the structural properties of NPGR and catalytic properties of Pt NPs. A selective and sensitive electrochemical sensor was succ...
Sensors and Actuators B: Chemical
Journal of Electroanalytical Chemistry