nep-isf New Economics Papers
on Islamic Finance
Issue of 2018‒07‒09
five papers chosen by
Halimatun Aris

  1. A Deep Learning Based Illegal Insider-Trading Detection and Prediction Technique in Stock Market By Sheikh Rabiul Islam
  2. Pemikiran Ekonomi Al-Ghazali By Jeri, Ramsito
  3. Peran Zakat Maal Dalam Perkembangan Ekonomi Indonesia Dengan Basis Ekonomi Pertanian By Aqil Alviana, Gunawan; Muhammad, Tsani Abdulhakim
  4. Economic and financing aspects of removing asbestos in residences By Leo Dobes
  5. Efek Penerimaan Zakat Fitrah Pada Tingkat Kesejahteraan Ekonomi Masyarakat (Studi Kasus di Kecamatan Ranca Ekek Kabupaten Bandung) By Aurisa, Fanny Rahmadianti

  1. By: Sheikh Rabiul Islam
    Abstract: The stock market is a nonlinear, nonstationary, dynamic, and complex system. There are several factors that affect the stock market conditions, such as news, social media, expert opinion, political transitions, and natural disasters. In addition, the market must also be able to handle the situation of illegal insider trading, which impacts the integrity and value of stocks. Illegal insider trading occurs when trading is performed based on non-public (private, leaked, tipped) information (e.g., new product launch, quarterly financial report, acquisition or merger plan) before the information is made public. Preventing illegal insider trading is a priority of the regulatory authorities (e.g., SEC) as it involves billions of dollars, and is very difficult to detect. In this work, we present different types of insider trading approaches, techniques and our proposed approach for detecting and predicting insider trader using a deep-learning based approach combined with discrete signal processing on time series data.
    Date: 2018–07
  2. By: Jeri, Ramsito
    Abstract: Al-Ghazali is a scholar whose ideas are concerned with the state of society. Some of his work deals with the improvement of social life at that time. The writing of this article aims to examine the work of Al Ghazali and connect it with the economic and political situation in the life of Al-Ghazali. The method used is the descriptive method. The results show that Al-Ghazali is a scholar who cares about the problems of society, including the economic problems of society.
    Keywords: economic law, al Ghazali, Islamic economy, economic thinking
    JEL: B00
    Date: 2018–03–01
  3. By: Aqil Alviana, Gunawan; Muhammad, Tsani Abdulhakim
    Abstract: Zakat is the third pillar of Islam, obliging every Muslim who is willing to expend his treasure in the effort to cleanse, purify, develop and help the mustahik to improve their lives. As the majority of Indonesian people work in the agricultural sector. With the characteristic features of an agriculture-based economy, the people of Indonesia are beginning to look at their economic growth. Distribution of zakat aims to make redistribution of income among the Islamic community, so there is no centralization of wealth on either side. Zakat is very influential on human economic behavior Zakat mal is the zakat imposed on property owned by individuals with the terms and conditions that have been determined. It is expected that the management of good zakat mall as well as proper distribution of targets can improve the economic welfare of Indonesian society. This writing aims to determine the role of zakat mal in the economy of Indonesian society.
    Keywords: Keywords: zakat, property, economy, base.
    JEL: Z1
    Date: 2018
  4. By: Leo Dobes
    Abstract: Reflecting its utility and versatility, asbestos was used in the past in many different products, including eaves, fences, roofs, walls, ceilings, floor coverings and backing, brake drums, pipe lagging, ironing boards, electrical meter boxes, sealants, pipes, and so on. Most Australian jurisdictions banned ‘the mining of raw asbestos and the manufacture, import and installation of products containing crocidolite (blue) and amosite (brown or grey) asbestos’ from 1985 (Fary 2012, p. 11). An Australia-wide ban on the manufacture and use of all types of asbestos and asbestos containing material took effect on 31 December 2003. Work Health and Safety legislation in all states and territories prohibits the supply, transport, use, or handling of asbestos unless an exception or exemption applies. Despite the bans, remnant asbestos products are still ubiquitous, particularly in older Australian homes. Exposure to asbestos fibres may result in asbestos-related disease, which in turn may lead to interstitial lung disease or various thoracic malignancies such as universally fatal bronchogenic carcinoma or mesothelioma. Inhalation of fibres is recognised as a hazard in a range of exposure levels in different occupations (Gottschall, 2002) and residential activities (Gordon & Leigh 2011), with different types of asbestos varying in their potency levels (Berman & Crump, 2008). Three “waves” of asbestos-related disease have been posited in Australia. The first is associated with the mining of raw asbestos and the manufacture of asbestos-containing products. A second wave was generated by the use of asbestos products in industry. Of greatest current concern is a growing third wave of non-industrial exposure, especially affecting those undertaking residential renovations and maintenance (Olsen et al., 2011; Musk et al. 2016; ASEA 2016). The two main themes examined in this paper are: 1. socio-economic rationale. A necessary condition for enhancing the well-being of society is that the social benefits of a proposed government action exceed its social costs. But it is also necessary to establish that any action is best undertaken by government, rather than by private firms or individuals. Situations of market failure can generally provide a prima facie case for government intervention, but the relative transaction costs and the risk of government failure also need to be considered in taking a decision. 2. cost-minimisation. Once a government has decided to take action, budgetary considerations and competing expenditure priorities will dictate that associated financial outlays be minimised as far as possible. A range of possible approaches to implementing asbestos removal are outlined, with a succinct presentation of their key advantages and disadvantages. A number of implicit and explicit assumptions are made throughout the paper. For example, the constitutional level of government involvement is left unstipulated. While state governments have primary responsibility in Australia’s federal system for public health issues, the Australian Government established an Asbestos Safety and Eradication Agency (ASEA) in 2013 to provide a national focus on asbestos issues which goes beyond workplace safety to encompass environmental and public health concerns. The agency aims to ensure that asbestos issues receive the attention and focus needed to drive change across all levels of government. References below to ‘government’ therefore refer to any combination of local, state and federal governments, but not to any specific one. Further, no distinction is made between the many types of asbestos or their effects.
    Keywords: asbestos, removal, market and government failure, income and equity contingent loans, reverse mortgage, Islamic finance, externalities
    JEL: D53 H23 Q53
    Date: 2018–06
  5. By: Aurisa, Fanny Rahmadianti
    Abstract: Abstract What is the level of economic prosperity of the people after obtaining an additional received of zakat fitrah is examined in this case. Similar (not mixed); foodstuffs used for zakat fitrah should be of a kind, should not be mixed. For example, types of rice, wheat, corn, wheat and so forth. So if rice is mixed with corn then it is not sufficient for Zakat Zakat is the amount of property that must be issued by the followers of Islam to be given to the eligible groups, such as the poor and the like, in accordance with established by sharia. Zakat includes the third pillar of Islam and one of the essential elements to enforce Islamic law. Zakat is divided into two kinds, namely, zakat fitrah and zakat maal. Zakat fitrah is a charity that must be done for the Muslims ahead of Idul Fitri or in Ramadhan. Zakat fitrah can be paid equivalent to 3.5 liter (2.5kilogram) staple food of the area concerned. The main purpose of this study is to determine the effect of zakat fitrah on the economic community Babakan Loa Rancaekek area, Bandung. The research method used is an interview with the chairman of DKM Al-Furqon as well as analyzing the data zakat fitrah recapture. From the results of interviews can be concluded that the zakat fitrah affect the economy of people entitled to get zakat (mustahik). The result of zakat collected is large enough that zakat mustahik is aided in the economy even in the not-too-distant future.
    Keywords: Keywords: Zakat Fitrah, Economy, Mustahik, influenced.
    JEL: Z1
    Date: 2018

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