Browsing by Issue Date

Jump to a point in the index:
Showing results 1 to 20 of 1368
  • bank_risk_financial_development_evidence_form_dual_banking_countries_baharom et al.pdf.jpg
  • Journal Article


  • Authors: Abdul Hamid, Baharom; Naeem Azmi, Choudhari Wajahat; Ali, Mohsin (2020)

  • This study examines the impact of financial development on bank risk-taking, measured as bank capitalization and bank income diversification. We observe the relationship using annual bank-level data from countries with dual-banking systems. The dataset spans from 2000 to 2014. Our results suggest that the impact of financial development on bank capitalization is heterogeneous across Islamic and conventional commercial banks. Moreover, the effect is different across listed and unlisted banks. However, on average, the response of income diversification to financial development is similar across most specifications. Additionally, bank risk is found to be countercyclical, suggesting that ...

  • a_fresh_view_on_zakah_as_socio-financial_tool_to_promote_ethics_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2020)

  • Current statistical data shows that almost all Muslim countries are facing economic and social problems such as the spread of poverty, mounting outstanding external debt due to compound interest and widespread unethical behaviour. Some contemporary scholars relate these problems to the oppression and the crippling policies of former colonial administrations, while others point to the governmental incompetence and corruption that triggered the last Arab spring. However, this paper contends that although the above mentioned issues may have served as catalysts that led to the worsening of socio-economic situation in many countries, the main reason for the overwhelming problems plaguing M...

  • damage_assessment_Kelantan_flooding_baharom et al.pdf.jpg
  • Journal Article


  • Authors: Padli, Jaharudin; Md. Shah, Kamarul; Musa, Haslina; Jasmi, Abu Talib; Ahmad, Jusuh; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2020)

  • This study will focus on assessing the total amount of damage and losses that has occurred during the 2014 flood disaster in Kelantan. The phenomenon of heavy rainfall during monsoon season is normal in Malaysia especially for the east coastal state areas between November to March every year. With the rainfall rate of 794mm which is 1.6 times higher than the average rainfall from the previous year, it has destroyed dwelling houses, animals, crops and also agricultural land. By using cross-sectional data analysis with Ordinary Least Square (OLS) method on 686 respondents in Kuala Krai, Kelantan, the results showed that early warning indicators such as Short Message Services (SMS) and o...

  • short-term_Shariah-compliant_Islamic_liquidity_management_instruments_sustain_Islamic_banking_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2020)

  • The purpose of this paper is to describe the structure of the Islamic treasury bills issued by the Central Bank of Maldives, Maldives Monetary Authority (MMA) for the benefit of those jurisdictions that aspire to introduce short term Islamic liquidity management instruments. This is exploratory research where the experience of the author in structuring the Islamic liquidity management instruments discussed in the paper. It is evident from the discussions of this paper that innovation is the key to structure Shari'ah compliant short term liquidity management instruments. The example of Maldives has proved that there is a need to amend the laws of the country to facilitate Central banks...

  • house_financing_contracts_used_Islamic_banks_finished_properties_Malaysia_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Fauzi, Muhammad Fahmi; Mat Nor, Muhammad Faisal; Abideen, Mohamed; Ajroudi, Muhammed Maher (2020)

  • The purpose of this paper is to find out the existing practices of the Islamic banks in providing financing to the customers who have a requirement to purchase a finished property and to examine the existing products used by the Islamic banks in this regard by providing an insight into the modus operandi of these products. In doing this, attempt is made to find out the most famous product offered by the Islamic banks in this regard and to find out whether in reality, Malaysian Islamic banking industry has moved away from Bai Bithaman Ajil (BBA) or not. This is a qualitative research, largely library-based, and it will consist of secondary sources such as books, journals, articles and ...

  • item.jpg
  • Chapter in Book


  • Authors: Ali, Mohsin; Oravampurath, Hasanul Banna; Ziyaad, Mahomed (2020)

  • This chapter examines the economic impact of the migrants' return to Kerala, India during the Gulf oil crisis 2014-2016. Many migrants returned to their homeland during the crisis because they could not find work in the Middle East. The Kerala economy confronted this as one of the biggest threats which directly affected the economy. Almost USD 900 million had been brought to the homeland as remittance from Non-Residential Keralites (NRKs) working in Gulf countries. But the return of a large number of NRKs decreased the remittances to 10-15%. This chapter proposes Social Impact Sukuk to support the migrants who are back to their homelands from GCC countries. Data and information are co...

  • the_application_of ju’alah_Islamic_finance_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Mohamed, Ismail Mohd; Mohd Rafede; Muneeza, Aishath (2020)

  • Ju'alah is one of the least researched types of Shariah contracts used in Islamic finance. The objective of this paper is to explore the current and potential applications of Ju'alah with specific reference to Malaysian Islamic banking, takaful and the Islamic capital market. This paper establishes that there is potential for using Ju'alah in Islamic finance as a primary and/or secondary contract. It also establishes that Ju'alah can be used in takaful, though it is not being currently used for this in Islamic banking and the Islamic capital market in Malaysia. It is anticipated that the findings of this paper will improve understanding of the practice of Ju'alah in the Malaysian Isla...

  • comment_on_protectionism_under Trump_ariff.pdf.jpg
  • Journal Article


  • Authors: Abdul Kareem, Mohamed Ariff (2020)

  • The USA under Trump has departed from its long-cherished tradition of being a leading proponent of liberal trade policies to a new norm that seeks comfort in protection-ism. Noland (2020) provides a deep insight into the political economy that explains the sudden reversal of US trade policies since 2016. In addition to furnishing an excel-lent literature survey which sheds considerable light on the issues at hand, Noland delves into an econometric analysis of the voter preferences, in which the explanatory variables are economic, demographic and cultural factors, with interaction terms.

  • regulating_fintech_business_aishath.png.jpg
  • Chapter in Book


  • Authors: Kunhibava, Sherin; Muneeza, Aishath (2020)

  • The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, an...

  • it_is_time_zakat_organizations_India_press_zakat_activation_button_provide_economic_social_relief_COVID-19_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • COVID-19 began as a health crisis and now has led to an economic crisis. There is a sudden surge in the number of poor and needy who has become unemployed over night without any prior warning and who has no way to find an alternative work as the whole country is locked down to protect from widespread of the disease in the local communities. This is the situation in the whole world today and India is no exception to this. As Purohit in this April 2020 has reported in Aljazeera: millions in underdeveloped regions face penury and deprivation as economic activity grinds to a halt due to lockdown. An example to further describe this issue at an individual is described by Purohit as follows...

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

  • zakat_funds_moratorium_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • On the 22nd April 2020, the Ministry of Islamic Affairs of the Republic of Maldives announced that MVR1 million (US$63,895.8) will be allocated from Zakat funds to be given to the needy and poor aff ected by COVID-19. According to the World Bank, the Maldives is a middle-income country with GDP per capita of US$10,331 (2018). The Ministry of Gender and Family will receive the MVR1 million to help those affected. Before this, about MVR3 million (US$191,687) was spent by the Ministry of Islamic Affairs for Maldivians stranded in other countries due to lockdowns.

  • prosperous_year_Islamic_capital_market_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • The Maldives is a small island nation with a 100% Muslim population. The country witnessed the first form of Islamic finance with the incorporation of Amana Takaful Maldives in 2003 and the first fully-fledged Islamic bank was established in 2011. As the Maldives marked the 15th anniversary of Islamic finance in the country, it gave the opportunity for the citizens of the country to appreciate the industry and widen its scope to tap into the halal industry via Islamic tourism and halal certification.

  • what_drives_financial_performance_general_takaful_companies_baharom_et_al.pdf.jpg
  • Journal Article


  • Authors: Kantakji, Mazhar Hallak; Abdul Hamid, Baharom; Alhabshi, Syed Othman (2020)

  • This study aims to identify the internal and external factors affecting the financial performance of general takaful companies operating in Saudi Arabia, Malaysia, UAE, Qatar and Pakistan, using an unbalanced panel data set consisting of 53 companies. Data were hand-collected from the official financial reports of takaful companies. Two performance measures, namely, net investment income and investment yield, are used to capture the different aspects of the takaful investment operations. Based on relevant theory and literature, these measures are related to three economic variables, namely, GDP per capita, equity returns and interest rate, and four company-specific variables, namely, ...

  • nexus_between_oil_price_islamic_stock_markets_Africa_wavelet_multivariate-GARCH_approach_baharom.pdf.jpg
  • Journal Article


  • Authors: M.Abdulkarim, Fatima; Akinlaso, Mustapha I.; Abdul Hamid, Baharom; Ali, Hamisu S. (2020)

  • The goal of this paper is to address the relationship between crude oil-price changes on some selected African Islamic indices, using daily data from May 4, 2011, to January 25, 2018. We employed three main techniques: MODWT, CWT, and multivariate-GARCH-DCC, to analyze whether these markets have any diversification opportunities. Our findings reveal that, first, the results of MODWT shows Egyptian Islamic index leading all indices. Second, CWT results show that investors would gain diversification benefits in almost all markets (except South Africa) and enjoy the benefit that comes with long-term investments. Third, we observed low correlations between the Egyptian and Tunisian Islami...

  • do_msme_patronage_factors_correspond_to_UAE_Islamic_banker_perceptions_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Shamsudheen, Shinaj Valangattil; Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad (2020)

  • According to UAE Ministry of Economy, the SME sector represents more than 94 per cent of the total number of companies operating in the country and provide jobs for more than 86 per cent of the private sector's workforce. There are more than 350,000 companies working at the SMEs platform, and providing over 86 percent of the private sector's total workforce. They contribute to more than 60 percent of the UAE non-oil GDP. According to the Central Bank of UAE's data, credit provided to microenterprises grew 26.3% during the period from December 2017 through March 2019.

  • impact_situational_factors_ethical_choice_survey_Islamic_banking_practitioners_UAE_saiful.pdf.jpg
  • Journal Article


  • Authors: Shamsudheen, Shinaj Valangattil; Rosly, Saiful Azhar (2020)

  • The purpose of this paper is to use Ferrell and Gresham (1985) contingency model to examine the impact of situational factors on decision-making behaviour related to ethical issues of Islamic banking practitioners. A total of 262 samples are collected from Islamic banking practitioners in the United Arab Emirates (UAE) and data analysis is conducted using structural equation modelling (SEM) with a confirmatory approach. The empirical findings indicate that decision-making behaviour related to ethical issues of Islamic banking practitioners is significantly influenced in the process of interacting with persons who are part of the organisation, and these influences are determined by the...

  • application_statutes_limitations_Islamic_banking_case_Malaysia_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Limitations of action designate extent of time after an event, as set by statutes of limitations, within which legal action can be initiated by a party to a transaction. No event is actionable outside the designated time as same is rendered statute-barred. This study aims to provide an insight into application and significance of Limitations Act 1950 and Limitation Ordinance 1952 to Islamic banking matters in Malaysia as well as Shariah viewpoint on the issue of limitation of action. In conducting the study, a qualitative research methodology is employed where reported Islamic banking cases from 1983 to 2018 in Malaysia were reviewed and analysed to ascertain the application of those ...

  • comment_economic_reforms_aftermath_regime_change_Malaysia_ariff.pdf.jpg
  • Journal Article


  • Authors: Abdul Kareem, Mohamed Ariff (2020)

  • Lee (2020) provides a fairly crispy analysis of economic reforms underway in Malaysia subsequent to the dramatic regime change through the ballot box on May 9, 2018. As is often said, there is more to it than meets the eye. Economic reforms have long been overdue in Malaysia. There were no reforms even in the aftermath of the 1997-1998 Asian Financial Crisis. While many affected countries in the region, including South Korea, Thailand and Indonesia, undertook serious reforms with International Monetary Fund (IMF) guidance in the wake of currency meltdown and political upheaval, Malaysia remained in a denial mode, blaming currency speculators. Malaysia was able to desist IMF interventi...

  • role_islamic_finance_catalyst_to_sustainable_entrepreneurship_achieving_sustainable_development_goals_agenda_zulkarnain.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Muhamad Sori, Zulkarnain (2020)

  • Fairer and healthier planet have been the main agenda of governments around the globe since the last few decades. Global crisis like climate change, global warming, poverty, hunger, inequality and many more, have raised the concern on our planet sustainability. As a result, the United Nations Summit in New York from 25 to 27 September 2015 unveils the 2030 Agenda for Sustainable Development with 17 Sustainable Development Goals (SDGs) and 169 targets which are integrated and indivisible. This agenda promotes transformation of thinking and approaches to be more inclusive, people-centred and to include sustainable development consideration where possible.

Browsing by Issue Date

Jump to a point in the index:
Showing results 1 to 20 of 1368
  • bank_risk_financial_development_evidence_form_dual_banking_countries_baharom et al.pdf.jpg
  • Journal Article


  • Authors: Abdul Hamid, Baharom; Naeem Azmi, Choudhari Wajahat; Ali, Mohsin (2020)

  • This study examines the impact of financial development on bank risk-taking, measured as bank capitalization and bank income diversification. We observe the relationship using annual bank-level data from countries with dual-banking systems. The dataset spans from 2000 to 2014. Our results suggest that the impact of financial development on bank capitalization is heterogeneous across Islamic and conventional commercial banks. Moreover, the effect is different across listed and unlisted banks. However, on average, the response of income diversification to financial development is similar across most specifications. Additionally, bank risk is found to be countercyclical, suggesting that ...

  • a_fresh_view_on_zakah_as_socio-financial_tool_to_promote_ethics_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2020)

  • Current statistical data shows that almost all Muslim countries are facing economic and social problems such as the spread of poverty, mounting outstanding external debt due to compound interest and widespread unethical behaviour. Some contemporary scholars relate these problems to the oppression and the crippling policies of former colonial administrations, while others point to the governmental incompetence and corruption that triggered the last Arab spring. However, this paper contends that although the above mentioned issues may have served as catalysts that led to the worsening of socio-economic situation in many countries, the main reason for the overwhelming problems plaguing M...

  • damage_assessment_Kelantan_flooding_baharom et al.pdf.jpg
  • Journal Article


  • Authors: Padli, Jaharudin; Md. Shah, Kamarul; Musa, Haslina; Jasmi, Abu Talib; Ahmad, Jusuh; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2020)

  • This study will focus on assessing the total amount of damage and losses that has occurred during the 2014 flood disaster in Kelantan. The phenomenon of heavy rainfall during monsoon season is normal in Malaysia especially for the east coastal state areas between November to March every year. With the rainfall rate of 794mm which is 1.6 times higher than the average rainfall from the previous year, it has destroyed dwelling houses, animals, crops and also agricultural land. By using cross-sectional data analysis with Ordinary Least Square (OLS) method on 686 respondents in Kuala Krai, Kelantan, the results showed that early warning indicators such as Short Message Services (SMS) and o...

  • short-term_Shariah-compliant_Islamic_liquidity_management_instruments_sustain_Islamic_banking_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2020)

  • The purpose of this paper is to describe the structure of the Islamic treasury bills issued by the Central Bank of Maldives, Maldives Monetary Authority (MMA) for the benefit of those jurisdictions that aspire to introduce short term Islamic liquidity management instruments. This is exploratory research where the experience of the author in structuring the Islamic liquidity management instruments discussed in the paper. It is evident from the discussions of this paper that innovation is the key to structure Shari'ah compliant short term liquidity management instruments. The example of Maldives has proved that there is a need to amend the laws of the country to facilitate Central banks...

  • house_financing_contracts_used_Islamic_banks_finished_properties_Malaysia_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Fauzi, Muhammad Fahmi; Mat Nor, Muhammad Faisal; Abideen, Mohamed; Ajroudi, Muhammed Maher (2020)

  • The purpose of this paper is to find out the existing practices of the Islamic banks in providing financing to the customers who have a requirement to purchase a finished property and to examine the existing products used by the Islamic banks in this regard by providing an insight into the modus operandi of these products. In doing this, attempt is made to find out the most famous product offered by the Islamic banks in this regard and to find out whether in reality, Malaysian Islamic banking industry has moved away from Bai Bithaman Ajil (BBA) or not. This is a qualitative research, largely library-based, and it will consist of secondary sources such as books, journals, articles and ...

  • item.jpg
  • Chapter in Book


  • Authors: Ali, Mohsin; Oravampurath, Hasanul Banna; Ziyaad, Mahomed (2020)

  • This chapter examines the economic impact of the migrants' return to Kerala, India during the Gulf oil crisis 2014-2016. Many migrants returned to their homeland during the crisis because they could not find work in the Middle East. The Kerala economy confronted this as one of the biggest threats which directly affected the economy. Almost USD 900 million had been brought to the homeland as remittance from Non-Residential Keralites (NRKs) working in Gulf countries. But the return of a large number of NRKs decreased the remittances to 10-15%. This chapter proposes Social Impact Sukuk to support the migrants who are back to their homelands from GCC countries. Data and information are co...

  • the_application_of ju’alah_Islamic_finance_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Mohamed, Ismail Mohd; Mohd Rafede; Muneeza, Aishath (2020)

  • Ju'alah is one of the least researched types of Shariah contracts used in Islamic finance. The objective of this paper is to explore the current and potential applications of Ju'alah with specific reference to Malaysian Islamic banking, takaful and the Islamic capital market. This paper establishes that there is potential for using Ju'alah in Islamic finance as a primary and/or secondary contract. It also establishes that Ju'alah can be used in takaful, though it is not being currently used for this in Islamic banking and the Islamic capital market in Malaysia. It is anticipated that the findings of this paper will improve understanding of the practice of Ju'alah in the Malaysian Isla...

  • comment_on_protectionism_under Trump_ariff.pdf.jpg
  • Journal Article


  • Authors: Abdul Kareem, Mohamed Ariff (2020)

  • The USA under Trump has departed from its long-cherished tradition of being a leading proponent of liberal trade policies to a new norm that seeks comfort in protection-ism. Noland (2020) provides a deep insight into the political economy that explains the sudden reversal of US trade policies since 2016. In addition to furnishing an excel-lent literature survey which sheds considerable light on the issues at hand, Noland delves into an econometric analysis of the voter preferences, in which the explanatory variables are economic, demographic and cultural factors, with interaction terms.

  • regulating_fintech_business_aishath.png.jpg
  • Chapter in Book


  • Authors: Kunhibava, Sherin; Muneeza, Aishath (2020)

  • The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, an...

  • it_is_time_zakat_organizations_India_press_zakat_activation_button_provide_economic_social_relief_COVID-19_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • COVID-19 began as a health crisis and now has led to an economic crisis. There is a sudden surge in the number of poor and needy who has become unemployed over night without any prior warning and who has no way to find an alternative work as the whole country is locked down to protect from widespread of the disease in the local communities. This is the situation in the whole world today and India is no exception to this. As Purohit in this April 2020 has reported in Aljazeera: millions in underdeveloped regions face penury and deprivation as economic activity grinds to a halt due to lockdown. An example to further describe this issue at an individual is described by Purohit as follows...

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

  • zakat_funds_moratorium_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • On the 22nd April 2020, the Ministry of Islamic Affairs of the Republic of Maldives announced that MVR1 million (US$63,895.8) will be allocated from Zakat funds to be given to the needy and poor aff ected by COVID-19. According to the World Bank, the Maldives is a middle-income country with GDP per capita of US$10,331 (2018). The Ministry of Gender and Family will receive the MVR1 million to help those affected. Before this, about MVR3 million (US$191,687) was spent by the Ministry of Islamic Affairs for Maldivians stranded in other countries due to lockdowns.

  • prosperous_year_Islamic_capital_market_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • The Maldives is a small island nation with a 100% Muslim population. The country witnessed the first form of Islamic finance with the incorporation of Amana Takaful Maldives in 2003 and the first fully-fledged Islamic bank was established in 2011. As the Maldives marked the 15th anniversary of Islamic finance in the country, it gave the opportunity for the citizens of the country to appreciate the industry and widen its scope to tap into the halal industry via Islamic tourism and halal certification.

  • what_drives_financial_performance_general_takaful_companies_baharom_et_al.pdf.jpg
  • Journal Article


  • Authors: Kantakji, Mazhar Hallak; Abdul Hamid, Baharom; Alhabshi, Syed Othman (2020)

  • This study aims to identify the internal and external factors affecting the financial performance of general takaful companies operating in Saudi Arabia, Malaysia, UAE, Qatar and Pakistan, using an unbalanced panel data set consisting of 53 companies. Data were hand-collected from the official financial reports of takaful companies. Two performance measures, namely, net investment income and investment yield, are used to capture the different aspects of the takaful investment operations. Based on relevant theory and literature, these measures are related to three economic variables, namely, GDP per capita, equity returns and interest rate, and four company-specific variables, namely, ...

  • nexus_between_oil_price_islamic_stock_markets_Africa_wavelet_multivariate-GARCH_approach_baharom.pdf.jpg
  • Journal Article


  • Authors: M.Abdulkarim, Fatima; Akinlaso, Mustapha I.; Abdul Hamid, Baharom; Ali, Hamisu S. (2020)

  • The goal of this paper is to address the relationship between crude oil-price changes on some selected African Islamic indices, using daily data from May 4, 2011, to January 25, 2018. We employed three main techniques: MODWT, CWT, and multivariate-GARCH-DCC, to analyze whether these markets have any diversification opportunities. Our findings reveal that, first, the results of MODWT shows Egyptian Islamic index leading all indices. Second, CWT results show that investors would gain diversification benefits in almost all markets (except South Africa) and enjoy the benefit that comes with long-term investments. Third, we observed low correlations between the Egyptian and Tunisian Islami...

  • do_msme_patronage_factors_correspond_to_UAE_Islamic_banker_perceptions_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Shamsudheen, Shinaj Valangattil; Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad (2020)

  • According to UAE Ministry of Economy, the SME sector represents more than 94 per cent of the total number of companies operating in the country and provide jobs for more than 86 per cent of the private sector's workforce. There are more than 350,000 companies working at the SMEs platform, and providing over 86 percent of the private sector's total workforce. They contribute to more than 60 percent of the UAE non-oil GDP. According to the Central Bank of UAE's data, credit provided to microenterprises grew 26.3% during the period from December 2017 through March 2019.

  • impact_situational_factors_ethical_choice_survey_Islamic_banking_practitioners_UAE_saiful.pdf.jpg
  • Journal Article


  • Authors: Shamsudheen, Shinaj Valangattil; Rosly, Saiful Azhar (2020)

  • The purpose of this paper is to use Ferrell and Gresham (1985) contingency model to examine the impact of situational factors on decision-making behaviour related to ethical issues of Islamic banking practitioners. A total of 262 samples are collected from Islamic banking practitioners in the United Arab Emirates (UAE) and data analysis is conducted using structural equation modelling (SEM) with a confirmatory approach. The empirical findings indicate that decision-making behaviour related to ethical issues of Islamic banking practitioners is significantly influenced in the process of interacting with persons who are part of the organisation, and these influences are determined by the...

  • application_statutes_limitations_Islamic_banking_case_Malaysia_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Limitations of action designate extent of time after an event, as set by statutes of limitations, within which legal action can be initiated by a party to a transaction. No event is actionable outside the designated time as same is rendered statute-barred. This study aims to provide an insight into application and significance of Limitations Act 1950 and Limitation Ordinance 1952 to Islamic banking matters in Malaysia as well as Shariah viewpoint on the issue of limitation of action. In conducting the study, a qualitative research methodology is employed where reported Islamic banking cases from 1983 to 2018 in Malaysia were reviewed and analysed to ascertain the application of those ...

  • comment_economic_reforms_aftermath_regime_change_Malaysia_ariff.pdf.jpg
  • Journal Article


  • Authors: Abdul Kareem, Mohamed Ariff (2020)

  • Lee (2020) provides a fairly crispy analysis of economic reforms underway in Malaysia subsequent to the dramatic regime change through the ballot box on May 9, 2018. As is often said, there is more to it than meets the eye. Economic reforms have long been overdue in Malaysia. There were no reforms even in the aftermath of the 1997-1998 Asian Financial Crisis. While many affected countries in the region, including South Korea, Thailand and Indonesia, undertook serious reforms with International Monetary Fund (IMF) guidance in the wake of currency meltdown and political upheaval, Malaysia remained in a denial mode, blaming currency speculators. Malaysia was able to desist IMF interventi...

  • role_islamic_finance_catalyst_to_sustainable_entrepreneurship_achieving_sustainable_development_goals_agenda_zulkarnain.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Muhamad Sori, Zulkarnain (2020)

  • Fairer and healthier planet have been the main agenda of governments around the globe since the last few decades. Global crisis like climate change, global warming, poverty, hunger, inequality and many more, have raised the concern on our planet sustainability. As a result, the United Nations Summit in New York from 25 to 27 September 2015 unveils the 2030 Agenda for Sustainable Development with 17 Sustainable Development Goals (SDGs) and 169 targets which are integrated and indivisible. This agenda promotes transformation of thinking and approaches to be more inclusive, people-centred and to include sustainable development consideration where possible.