Author: Darulfunun Institute

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This study investigates the relevance, transformation, and potential revival of waqf (Islamic endowment) as a foundation for moral economy and Islamic ethics in the context of modern capitalism. While traditional Islamic moral economics focuses on equitable wealth distribution and social welfare, current capitalist institutions frequently favor profit maximization, financialization, and market efficiency. This study looks critically at how waqf has historically reduced socioeconomic gaps and how its ideas might be used in modern economic systems to alleviate poverty, social exclusion, and market failures. The paper proposes a normative framework for incorporating waqf into ethical economic strategies that reconcile moral imperatives with capitalist realities, based on doctrinal analysis of Islamic legal texts, a review of contemporary scholarship on moral economy theory, and case studies of modern waqf initiatives. The findings suggest that waqf can serve as a long-term tool for community investment, social safety nets, and value-based economic resilience if legal reform, governance innovation, and ethical institutional frameworks are achieved. The article concludes by advocating policy and institutional options for reviving waqf within global economic systems while maintaining Islamic ethical integrity and modern market efficiency.

As the world grapples with the escalating impacts of climate change, innovative financing mechanisms to support mitigation efforts have become increasingly urgent. This study investigates the potential role of waqf an Islamic endowment system in addressing climate change challenges in Northern Nigeria, a region that faces a number of environmental and climate challenges particularly in terms of environmental degradation and climatic variability. The research utilizes a mixed-methods approach, combining qualitative interviews with key stakeholders, including waqf administrators, community leaders, and environmental activists, alongside quantitative analysis of existing waqf funds and projects related to climate adaptation. Findings reveal that waqf funds can be effectively leveraged to support various climate change mitigation initiatives, such as afforestation, water conservation, and renewable energy projects. The study highlights several successful case studies where waqf-supported activities have enhanced local resilience and contributed to sustainable resource management. Furthermore, it identifies significant barriers to the implementation of environmentally focused waqf initiatives, including lack of awareness, inadequate regulatory frameworks, and limited community engagement. The paper proposes actionable recommendations to optimize the role of waqf in climate change mitigation, including enhancing legal structures to support environmental waqf, fostering collaboration between waqf institutions and environmental NGOs, and implementing educational campaigns to raise awareness about the importance of sustainable practices within waqf management. Ultimately, this study advocates for a paradigm shift in the perception of waqf from a purely charitable endeavor to a comprehensive instrument for sustainability and climate resilience, thereby contributing to the broader discourse on integrating indigenous financial mechanisms into global climate change strategies.

This study looks into how women-led home-based businesses in Northern Nigeria operate in regard to Islamic household management concepts. In particular, it looks at how female entrepreneurs incorporate important Islamic principles like ?adl (justice), i?tid?l/?isr?f avoidance (moderation), and barakah (blessing) into their household and microbusiness management. In many Northern Nigerian villages, women are increasingly working in small-scale jobs including food processing, crafts, and tailoring to help support their families. While Islamic teachings provide a thorough framework for striking a balance between economic endeavours and household responsibilities, little empirical study has examined how women who own micro, small, and medium-sized enterprises (MSMEs) really implement these concepts in their dual roles. In Bauchi, Gombe, and Kaduna States, a purposive sample of twenty women running home-based MSMEs in a variety of trades participated in a qualitative multiple-case research. Semi-structured interviews, participant observation, and the examination of personal and professional documents were used to gather data. To find trends in the distribution of profits, time management, resource allocation, and social duties, thematic analysis was used. The results show that women entrepreneurs’ daily choices are greatly influenced by Islamic values. Participants established shared-storage practices in line with Islamic moderation, prioritized halal sourcing, and reduced waste through group purchases. Maintaining balance between work, religion, and childcare was made easier by planning work schedules around daily prayers. With a methodical allocation to home needs, business reinvestment, zakat responsibilities, and voluntary charity, profit distribution techniques also mirrored Islamic standards of fairness. The study comes to the conclusion that Islamic household management concepts offer a useful moral and practical framework that improves the long-term viability of women-owned businesses. In Northern Nigeria, strengthening these practices through women-focused support programs, faith-based business training, and community microfinance can further foster local economic development and family resilience.

Artificial Intelligence (AI) is transforming banking, accounting, auditing, risk management, and customer service operations. In Nigeria, the integration of AI into the financial sector presents both unprecedented opportunities and significant challenges. This study examines the implications of AI adoption for professional development among Nigerian finance practitioners. Based on the frameworks of technological diffusion and human capital development, the research investigates how AI-driven tools like machine learning, natural language processing, robotic process automation, and predictive analytics are influencing financial practices and the skills required of professionals. The study uses a mixed-methods approach, combining survey data from finance professionals in selected Nigerian banks and fintech firms with qualitative interviews with regulators, educators, and technology experts. In addition to highlighting important opportunities like increased productivity, fraud detection, financial inclusion, and better decision-making, the findings are anticipated to point out significant obstacles like job displacement, ethical dilemmas, regulatory gaps, and a lack of professional AI literacy.  In order to create a workforce prepared for AI, the study emphasizes the necessity of ongoing professional development, curriculum change in finance and accounting education, and cooperative efforts between the government, business community, and professional associations. The study conclude that effective AI integration in Nigeria’s financial sector depends not only on the availability of technology but also on giving finance professionals the knowledge, moral compass, and flexible abilities they need to prosper in the age of digital transformation.

Human greed, carelessness, and a lack of moral concern for other living things have undermined the vital connection that exists between humans and the environment.  Pollution, deforestation, and careless garbage disposal are just a few examples of how far society has strayed from its moral obligation to protect the environment. The goal of this study is to investigate how moral and ethical principles can be applied to rectify environmentally harmful human attitudes. The study’s primary goal is to advance environmental ethics as a means of resurrecting human empathy and accountability for all living things. Using a qualitative approach, books, journal articles, passages from the Qur’an, and prophetic traditions emphasizing moral behaviour and earth stewardship were reviewed. Results show that environmental degradation is not just a physical problem but also a moral one brought on by ignorance, greed, and a lack of empathy.  According to the study, people are more inclined to preserve and defend the environment when they see it through the prism of humanity and divine trust.  Therefore, the work suggests that public awareness campaigns be used to support the inclusion of environmental ethics in moral and religious education at all levels.  It suggests that people, educators, and religious organizations collaborate to create a culture of environmental responsibility and compassion for all living things, concluding that true humanity is reflected in genuine care for the environment.