Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model

A number of organizations have adopted the Islamic system of management to manage their organizations. Those Islamic organizations negotiate and deal in order to satisfy their interest and meet their objectives. Hence, it is important to know the Shariah principles, which they execute in their negot...

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Main Author:	Ramdani, Abbas
Format:	Thesis
Language:	eng eng
Published:	2017
Subjects:	BP174 The practice of Islam HG Finance
Online Access:	https://etd.uum.edu.my/6984/1/s94620_01.pdf https://etd.uum.edu.my/6984/2/s94620_02.pdf
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id	my-uum-etd.6984
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Mohammed, Rosli Ahmad, Mohd. Khairie
topic	BP174 The practice of Islam HG Finance
spellingShingle	BP174 The practice of Islam HG Finance Ramdani, Abbas Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model
description	A number of organizations have adopted the Islamic system of management to manage their organizations. Those Islamic organizations negotiate and deal in order to satisfy their interest and meet their objectives. Hence, it is important to know the Shariah principles, which they execute in their negotiation with their various customers and stakeholders. The negotiation process and outcome have been largely studied applying different conventional perspectives and value systems. However, while the extant studies on negotiation have exhaustively focused on viewpoints that are mainly informed by western value systems, it is imperative to explore the possibility of the conceptualization and practice of negotiation from the Islamic perspective. As such, this study explores and identifies the concept, principles and practices of negotiation from an Islamic perspective. Additionally, this study proposes a Shariah-compliant negotiation model through a qualitative research design. A series of in-depth face-to-face interview were conducted among 20 informants from four different expert groups namely; Muftis, Academicians, Practitioners and Shariah Board Members of Islamic Banks. Content analysis was used via thematic Data analysis with the assistance of NVivo 8 software. Findings show that negotiations from the Islamic viewpoint provide three platforms of disagreements; reconciliation (Sulh), discussion (Shura) and communication. These platforms are based on six core principles, which are Qur’an and Sunnah compliance, justice, credibility, flexibility, information disclosure and relationship. This study also finds that obtaining spiritual satisfaction is the main purpose for adopting the Islamic approach by Islamic organizations in their negotiation conducts. Furthermore, this study recommends a Shariah-compliant negotiation model as a potential guide for conducting negotiations among Islamic organizations. Finally, this study contributes to the body of knowledge by providing a systematic framework, which provides insights for Islamic organizations on how to conduct negotiations with a proper Islamic approach.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Ramdani, Abbas
author_facet	Ramdani, Abbas
author_sort	Ramdani, Abbas
title	Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model
title_short	Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model
title_full	Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model
title_fullStr	Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model
title_full_unstemmed	Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model
title_sort	negotiation in islamic financial system: developing a shariah-compliant negotiation model
granting_institution	Universiti Utara Malaysia
granting_department	Awang Had Salleh Graduate School of Arts & Sciences
publishDate	2017
url	https://etd.uum.edu.my/6984/1/s94620_01.pdf https://etd.uum.edu.my/6984/2/s94620_02.pdf
_version_	1747828140658393088
spelling	my-uum-etd.69842021-08-18T05:47:05Z Negotiation in Islamic financial system: developing a Shariah-compliant negotiation model 2017 Ramdani, Abbas Mohammed, Rosli Ahmad, Mohd. Khairie Awang Had Salleh Graduate School of Arts & Sciences Awang Had Salleh Graduate School of Arts and Sciences BP174 The practice of Islam HG Finance A number of organizations have adopted the Islamic system of management to manage their organizations. Those Islamic organizations negotiate and deal in order to satisfy their interest and meet their objectives. Hence, it is important to know the Shariah principles, which they execute in their negotiation with their various customers and stakeholders. The negotiation process and outcome have been largely studied applying different conventional perspectives and value systems. However, while the extant studies on negotiation have exhaustively focused on viewpoints that are mainly informed by western value systems, it is imperative to explore the possibility of the conceptualization and practice of negotiation from the Islamic perspective. As such, this study explores and identifies the concept, principles and practices of negotiation from an Islamic perspective. Additionally, this study proposes a Shariah-compliant negotiation model through a qualitative research design. A series of in-depth face-to-face interview were conducted among 20 informants from four different expert groups namely; Muftis, Academicians, Practitioners and Shariah Board Members of Islamic Banks. Content analysis was used via thematic Data analysis with the assistance of NVivo 8 software. Findings show that negotiations from the Islamic viewpoint provide three platforms of disagreements; reconciliation (Sulh), discussion (Shura) and communication. These platforms are based on six core principles, which are Qur’an and Sunnah compliance, justice, credibility, flexibility, information disclosure and relationship. This study also finds that obtaining spiritual satisfaction is the main purpose for adopting the Islamic approach by Islamic organizations in their negotiation conducts. Furthermore, this study recommends a Shariah-compliant negotiation model as a potential guide for conducting negotiations among Islamic organizations. Finally, this study contributes to the body of knowledge by providing a systematic framework, which provides insights for Islamic organizations on how to conduct negotiations with a proper Islamic approach. 2017 Thesis https://etd.uum.edu.my/6984/ https://etd.uum.edu.my/6984/1/s94620_01.pdf text eng public https://etd.uum.edu.my/6984/2/s94620_02.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia The Noble Qur’an (2000). 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