Insurance as a concept was discovered several millennia before Christ (BC). Risk shifting or dispersing was a tactic used by traders from China and Babylonia in the Second and Third millennia BC. Insurance currently forms the backbone of the economy, but it is challenging to increase its market share in developing countries. Big Data, InsurTech, and the Internet of Things have just brought about the fourth revolution in the insurance sector of the industrialized world.To increase the coverage of insurance and takaful in Kenya, this research looks into the issues and possible fixes related to InsurTech. This study conducted a systematic literature review to find the themes and elements related to issues and solutions in adopting InsurTech in Kenyan insurance and takaful businesses. Several keywords were utilized to locate relevant content on Google Scholar. The studies that had been screened were analyzed using inclusion and exclusion criteria. This paper listed many barriers to the adoption of InsurTech in Kenya's insurance industry along with possible solutions. Policymakers may find the recommendations useful in enhancing the services provided by the insurance sector.
Keywords: InsurTech, Insurance/takaful Industry, Digital Technologies, Kenya.

Training programs are vital for the professional development of employees in every organization. Pakistan's Islamic banking sector is experiencing unprecedented growth, accelerated by the State Bank of Pakistan's mandate for full conversion to Islamic banking by 2027. This transformation is creating massive opportunities for both current and future professionals in the field. However, this rapid expansion brings an urgent need for comprehensive training programs to develop three core competencies: technical banking skills, essential soft skills, and in-depth Sharia compliance knowledge. Only through effective training can employees properly implement Islamic financial principles, maintain operational excellence, and drive organizational success. As the sector prepares for exponential growth, investing in employee development today will determine which institutions lead Pakistan's Islamic finance revolution tomorrow. The future belongs to banks that prioritize building a skilled, motivated workforce capable of navigating both the technical and ethical dimensions of Sharia-compliant finance. This case study is more focused on the development of Sharia knowledge and skills among the employees by using PDCA methodology. Before the implementation of PDCA in Islamic banks, the proficiency of Islamic banking knowledge and compliance was ordinary among the employees, resulting in an increase in costs and inefficiency. The results revealed that implementation of PDCA has improved Islamic banking knowledge and skills among the employees significantly. Even though it belongs to an Islamic bank, the learning points are very important and beneficial for multiple organizations and individuals. The pre and post testing has developed better understanding of the learners and the training becomes an investment rather than an expense. Furthermore, the PDCA based improvements are also found very similar to the action research-based plan, implement, observe, and reflect in the literature which not only contribute to the research but also to the practices of society.
Keywords: Islamic Banking, Training Improvements; PDCA; Action Research

The regressive nature of indirect taxation in Pakistan elevates poverty and poses a significant challenge to its reduction efforts. These types of taxes, levied on consumption of goods and services, disproportionality affect low-income households, who spend a large portion of their income on essential commodities. As a result, indirect taxes erode disposable income, limit excess to necessities and become a cause of exacerbating poverty and widening income inequality. The first objective of this paper is to examine the effect of indirect tax on exacerbating poverty. The second objective is to discuss Shari’ah legitimacy of taxes and examine the Shari’ah appraisal of Indirect Taxes. In addition to these, we also discuss how indirect taxes disproportionately affect the impoverished and result in more poverty. In order to gain the first objective, empirical approach was adopted with descriptive analysis. Graphical presentation was used to elaborate on the results of the quantitative data. For the second objective, critical analysis of literature review techniques and descriptive statistics were used to elaborate the results. The finding of this study provides compelling evidence of a significant positive correlation between indirect taxes and poverty levels. Our analysis demonstrates that an increase of indirect tax burden exerts a substantial negative impact on livelihood, which results in exacerbating poverty. The increase in poverty is also a cause of socio-economic disparities. The findings underscore the urgent need of comprehensive tax reforms. The effective tax reforms, particularly a well-designed decrease in indirect tax, can significantly affect poverty. The reduction in taxes may lead to better access to necessities which may result in improving the living standards of the poor community. This research recommends an analysis of Pakistan’s indirect tax system through the lens of Shari’ah calls for reforms that align with the principles of justice, equality and well- being of the deprived community. Simultaneously, Shari’ah compliant reforms would advocate for strengthening direct taxation on wealth and income, ensuring that the affluent contribute to the society. It also fosters a system where the tax burden is shared according to the ability and financial position of the people.
Key words: Indirect tax, Poverty, Shari’ah, Direct tax, income inequality, Equal distribution of wealth

Access to reasonably priced and environment-friendly housing financing continues to be a major problem particularly in countries with the majority Muslim populations where adherence to Islamic financial principles is mandated. This study looks at two often used Islamic financing techniques, Murabaha and Diminishing Musharakah, and contrasts them in the effort to provide practical solutions for sustainable housing finance. This study adopts a comparative descriptive research design which allows for the systematic comparison between the two different Islamic financing models within the context of sustainable housing finance. Supported by descriptive and inferential statistical studies, a cross-sectional survey of financial institutions and customers looks at the relative performance of the models regarding cost, risk-sharing, sustainability, customer happiness, and operational simplicity. The results show that Murabaha mirrors traditional debt agreements and impedes efficient risk sharing even if it is easy and has lower operating risks. On the other hand, Diminishing Musharakah has shown better results in terms of affordability, equity sharing, customer happiness, and long-term feasibility despite its higher administrative complexity. According to the finding from the regression analysis, financing models have a significant impact on the outcomes of sustainable housing finance; the variance in promoting affordability and socio-economic welfare was higher with Diminishing Musharakah. Thus, it is recommended that Islamic financial firms should prioritize equity-based financing models and reduce operational challenges through client education initiatives and digitization. Additionally, regulatory agencies are urged to encourage the implementation of risk-sharing frameworks in order to promote financial inclusion and socioeconomic progress. This research advances the empirical evidence on sustainable Islamic finance that supports Diminishing Musharakah for environment-friendly and ethical housing development in accordance with international Sustainable Development Goals (SDGs).
Keywords: Islamic Finance, Sustainable Housing Finance, Murabaha, Diminishing Musharakah, Risk-Sharing Models