This paper proposes a simple goodness-of-fit test based on the sample covariance. It is shown that this test is preferable for alternatives of increasing and unimodal failure rate. Critical values for various sample sizes are determined by means of Monte Carlo simulations. We compare the test based on the sample covariance with tests based on Hoeffding's maximum correlation. The usefulness o...

Islamic Finance is more than an asset class – it is a way of life lived by 1.6 billion Muslims around the world. But its reach goes even further – non-Islamic countries, governments, and businesses, have all invested in or issued Islamic securities for one reason or another. With the ongoing push of globalization of trade and finance, Islamic financial flows, long a localized phenomenon, have b...

In Islamic Finance (IF hereafter), the safety-first rule of investing (hifdh almal) is held to be of utmost importance. According to the honesty principle (amanah), the Islamic portfolio manager (mudharib) is committed to do his best to fulfill this investing rule. This involves the use of the most appropriate management tools. The use of the normal assumption in the financial modeling is growi...

The anaesthetic agent halothane is still widely used in developing countries including the Islamic Republic of Iran because of its low price. Because of halothane-induced hepatitis, a rare complication, it has been replaced by other inhalation anaesthetics in Western countries; it has been suggested by some Iranian professionals that the Islamic Republic of Iran should do the same. We evaluated...

Department of Community Medicine, International Islamic University, Malaysia. Department of Internal Medicine, International Islamic University, Malaysia. Institute of Education, International Islamic University, Malaysia. Hospital Tengku Ampuan Afzan, International Islamic University, Malaysia. Pharmaceutical Chemistry, International Islamic University, Malaysia. Department of Family Medicine,...

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Authors agree that a sustainable industry requires innovative approaches [1] with an increased emphasis on decisions over process selection [2]. This paper proposes an innovative approach for sustainable process design based on two known tools: BAT (Best Available Techniques) Analysis, meant to be the support for decision making during process selection and design, and process simulation, which...