Gold and silver are ribawi items. Thus, any dealing with these items requires strict adherence to the Shariah principles governing ribawi transactions. Methods of dealing with gold and silver are clearly mentioned in many traditions of the Prophet (pbuh), inter alia: “Don't sell gold for gold unless equal in weight, nor silver for silver unless equal in weight, but you could sell gold for silver or silver for gold as you like.”

No abstract

This article analyses the enforceability of arbitration awards, rendered following a reference to the Shariah Advisory Council of the Central Bank of Malaysia under sections 56 and 57 of the Central Bank of Malaysia Act 2009, under the New York Convention 1958 which has been adopted in 159 countries. This article employs the theoretical legal research method and has compared sections 56 and 57 against the requirements of the Convention for enforceability of awards, in particular the fundamental attributes of an arbitration. The conclusion is that such awards would not be enforceable under the Convention as they infringe Article V(1)(d) of the Convention. This would cause such awards to lose the feature of global and convenient enforceability usually attached to arbitration awards. These consequences make it less attractive, where there is an arbitration clause in the Islamic financial transaction documentation, to choose the Malaysian law as the governing law whether with regard to the substantive merits or the arbitration proceedings. This article recommends that amendments be made to sections 56 and 57 to make the reference to the Shariah Advisory Council optional rather than mandatory and its ruling advisory instead of binding, in respect of arbitration only, so that the global enforceability of such arbitration awards under the Convention is not undermined.

Entrepreneurial behavior within an organization is deemed relevant as an instrument to foster organizational growth, develop a strategic vision and create an energetic work environment because of its valuable impact on the performance of service. Beneficial display of entrepreneurial behavior by organizational members contributes to the venture significant of an organization. Although multiple kinds of research suggest the importance of individual entrepreneurial behavior in organizations, an empirical study on its predictors, particularly within the public sector is still infancy. Thus, the paper aims to provide an integrated review of the role of personal characteristics (in the form of entrepreneurial leadership, self-efficacy, and career adaptability) on entrepreneurial behavior among Malaysian public sector’s managers, which could subsequently exhibit the performance of the excellent services.

No abstract