Purpose This paper attempts to contextualise the potential role of waqf (plural; awqaf, Islamic perpetual trust) in the contemporary world, particularly, in the developmental arena. The purpose of this paper is to provide a framework for awqaf to maintain its convergence with some of the fundamental goals of the SDGs which are also congruent with the maqasid al-shariah (the higher objectives of shariah). Design/methodology/approach This paper is based on a desk-based research, and it adopts the qualitative research paradigm for the analysis of the available literature. Findings This paper finds that most of the 17 developmental goals of the SDGs comfortably match with the long-term objectives of shariah and there is good scope for the stakeholders of awqaf to develop waqf-based development plan in line with the framework of SDGs. Additionally, it finds that the global awqaf enjoy sufficient financial capacity to help muslim majority countries to realise some of the most relevant and urgent maqasid-oriented SDGs in a timely manner. Research limitations/implications The scope of this paper is limited to analyse the potential role of global awqaf in realising some of the most urgent maqasid-based development objectives in congruence with SDGs. For the purpose of maintaining the coherence in the focus of the study, this paper does not undertake any comparison between the waqf and other forms of endowments/charities in fulfilling the similar objectives. Practical implications This paper provides a framework for maqasid-oriented waqf-based development plan followed by provision of some critical recommendations on how the global awqaf can potentially spearhead the initiative of Islamic charities in realising the maqasid-oriented SDGs among muslim majority countries. Originality/value This paper adds original value to the available literature on the potential of waqf in the arena of development. The paper analyses the role of waqf in achieving the most urgent maqasid-based SDGs, and thus, it fills the existing gap of a systematic research on the possible collaboration of global awqaf and SDGs.

Purpose This paper aims to compare and contrast the concept, mechanism and functions of the two socio-economic institutions, i.e. waqf (Islamic trust) and English trust. It endeavours to juxtapose the salient features of waqf and trust with an objective to examine the nature of similarities and dissimilarities between the two institutions. Design/methodology/approach This paper applies the socio-legal research methodology and uses qualitative paradigm to analyse the literature. The paper is based on a desk-based research. Findings This paper finds that there is nothing intrinsically rigid in the jurisprudential paradigm of waqf which might impinge upon either the efficiency or effectiveness of the waqf vis-à-vis trust. The main findings of the paper are encapsulated in underlining certain Shariah principles which essentially hold waqf from transforming into a trust-like secular institution. Research limitations/implications This paper compares the jurisprudential underpinnings and conceptual frameworks of waqf and trust, and it does not evaluate their efficiency or effectiveness in empirical terms. The underlying socio-economic efficiency and impacts of the two institutions can be examined empirically in separate comparative case studies. Practical implications This paper examines and critically analyses the different socio-economic implications that waqf and trust entail for the societies in which they function. This analysis is important for the policy recommendations towards protecting the religious identity of waqf while re-structuring its models. Originality/value The main contribution of the paper is encapsulated in the critical analysis of how the paradigms of the two institutions, i.e. waqf and trust, which appear similar in form but differ in the substance, are shaped and governed.

Purpose – This paper aims to explore the moral aspect of qard (loan) from shariah perspective, and attempts to examine whether each interest-free qard is qualified for the Quranic term qard hasan (loan par excellence)? Also, the study attempts to establish the key constituents of qard hasan in the light of the primary sources of shariah, and seeks to define the legal status of the interest-free qard which fails to qualify for the “term” qard hasan. Design/methodology/approach – This study uses both the primary and secondary sources of shariah to examine the desired character of qard hasan. It employs pure qualitative paradigm to analyse and interpret the data. Findings – This study finds that in between the qard hasan and qard ribawi, there exists a third category of qard too, which neither qualifies for the former nor does fit under the definition of later. Originality/value – The findings presented in this paper illuminate the blurred line of contemporary understanding of qard hasan. The study adds original value to the corpus of contemporary literature on qard; as it collects and enumerates the ten vital conditions of qard hasan, without which, even an interest-free qard holds no virtuous sanctity in the sight of shariah.

One of the most challenging and complicated issues in city management in the present decade for Bangladesh is the traffic problem. It is a very common phenomenon in almost all the cities of Bangladesh. Presently, traffic congestion problem in Bangladesh are increasing at an alarming rate. The traffic problem has become to a very dangerous arena and has already implicit agonizing extent in the cities of Bangladesh. This type of study has been conducted in Dhaka but not in Chittagong city. Traffic management in Chittagong is not well organized as Dhaka so that the problem is becoming more complicated as the number of people in Chittagong is increasing and it is getting the priority after Dhaka. This article is dedicated to determine the current condition of traffic management in Chittagong City. This article explore the causes involved in traffic congestion including heavy concentration of vehicles, absence of adequate public transport, inadequate road infrastructure, faulty signaling equipment and poor enforcement of traffic rules. At the end of the paper the researchers tried to identify the solution of traffic jam in Chittagong Metropolitan City.

This paper examines the impact of financial leverage and market size of selected stocks on stock returns. Ordinary Least Square (OLS) regression models were used to examine the relationship between the dependent and independent variables. The leverage of the selected firms was estimated from the annual financial reports covering a period of five years from 2008 to 2012 of five corporations operating in the manufacturing sector. Furthermore, average monthly stock prices of the selected stocks between 2008-2012 for Fu-Wang Ceramic, Fine Foods Limited, Olympic Industries, Metro Spinning and Rahim Textiles. The study established a significantly negative relationship between leverage and stock return when the overall industrial data is used. However at the individual firm level the relationship was not stable. Four out of the five selected companies (i.e. Fu-Wang Ceramic, Fine Foods Limited, Olympic Industries and Metro Spinning) all had negative leverage coefficients. Rahim Textile however, had a positive leverage coefficient. The paper also found the relationship between size and stock returns to be significantly positive. However, the size effect within the manufacturing sector was limited.