Journal Article : [560]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 560
  • item.jpg
  • Journal Article


  • Authors: Chowdhury, Mohammad Ashraful Ferdous; Abdul Kareem, Mohamed Ariff; Mohammed Masih, Abul Mansur; Ismail, Izlin (2020)

  • This study examines the impact of foreign aid on the institutional quality (IQ) of the OIC countries. Using the data of OIC countries for the three-year average period from 1991 to 2016, the system GMM finds that aid in general deteriorates the IQ for the aid recipient countries. However, quantile regression suggests that the negative impact of foreign aid on institutional quality (IQ) is relatively greater in the countries where the existing quality of institution is poor. The findings of the study suggest that improving the existing capacity is essential for reaping the optimum benefit of foreign aid on institutional development.

  • item.jpg
  • Journal Article


  • Authors: Baaquie, Belal E. (2020)

  • Merton has proposed a model of the contingent claims on a firm as an option on the firms value, and the model is based on a generalization of the Black-Scholes stochastic equation. Merton's model can be used to price any contingent claim on the firm. A risk-sharing oscillator model for the pricing of corporate coupon bonds is proposed that leads to stochastic coupons, with the dynamics of the contingent claims being determined by the quantum oscillator. The oscillator model allows for the exact derivation of many results using quantum mathematics. The price of the risk-sharing coupon bonds and the stochastic coupons is derived exactly using the Feynman path integral.

  • item.jpg
  • Journal Article


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

  • This paper aims to examine existing halal certification regime in Maldives and address impediments therein that challenge and inhibit the growth of the country's halal industry in relation to fisheries products. This is qualitative research based on first-hand experiences of the authors in the halal certification process in the Maldives. Doctrinal methodology is used in the analysis of primary sources of data, including Maldivian laws and halal certification regulations to identify issues of practical relevance. This is complemented with content analysis of secondary data sourced from journal articles, books, reports and online databases that were examined in identifying hindrances an...

  • Integration_Islamic_philanthropic_economic_services_alleviation_poverity_case_affordable_housing_Magda et al.pdf.jpg
  • Journal Article


  • Authors: Sadr, Seyed Kazem; Alhabshi, Syed Othman; Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2020)

  • This paper argues that the goal of poverty alleviation and a decent standard of living is not attainable in Muslim communities unless the economic and social services of the Islamic philanthropic institutes are integrated and a full-fledged collaboration would be resumed among the managing boards. The first part of the paper will examine why Muslims participate in altruistic giving and what are the alternative forms of contributions that are provided by Shariah of Islam. The second part will review the potential and actual contributions of the said Islamic benevolent giving for poverty eradication and well-being of low and vulnerable income families. The third and concluding part will...

  • item.jpg
  • Journal Article


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

  • The purpose of this paper is to explore the application of kafalah in the practice of Islamic banking in Malaysia generally and ascertain applicable rules governing the application under relevant legislations and Shariah. The study also aims to examine the legislations in the light of Shariah provisions governing kafalah and propose amendments. This is a qualitative research where primary data sources mainly legislations and secondary sources comprising of articles and books on the subject of kafalah were examined. It is an exploratory legal research that primarily focuses on library studies and adopts doctrinal approach for content analysis of data from the identified sources. Kafala...

  • item.jpg
  • Journal Article


  • Authors: Anwer, Zaheer; Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Paltrinieri, Andrea (2020)

  • The aim of this article is to investigate the motivation of CEOs to invest in Corporate Social Responsibility (CSR) activities. To carry out this analysis, we assess a sample of US conventional and Shariah Compliant (SC) firms, from Dow Jones Indices. As SC firms undergo business and financial screening, they are expected to follow different managerial styles and capital structures as compared to conventional firms. This comparison is important in view of the growing size of the Islamic Financial Services Industry that has surpassed total asset values of USD 2.00 Trillion. Existing literature argues that, for conventional firms, CEOs spend on CSR either to promote their private benefi...

  • item.jpg
  • Journal Article


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

  • This paper aims to develop and validate scale for ethical decision-making model in marketing that confirms religious-humanistic approach with special reference to ethical philosophy in Islam. Synthesized model of Ferrell and Gresham contingency framework for ethical decision-making in marketing and Al-Ghazali's ethical philosophy are considered as theoretical background of this study. Content validity test and factor analysis are used to refine measurement items and define as well as validate the scale, respectively. A total of 362 samples were collected from Islamic banking practitioners in the United Arab Emirates. Item scale of the constructs comprised in the conceptual model defin...

  • item.jpg
  • Journal Article


  • Authors: Mohd Daud, Mohd Ariff; Rosly, Saiful Azhar; Muhamad Sori, Zulkarnain (2020)

  • The purpose of this study is to explore potential fund-raising option that can be developed to attract investment in affordable housing initiatives in Malaysia. In doing so, the study undertakes to discuss the viability of the property trust fund structure as an investment vehicle. The study uses a qualitative design that involves the use of semi-structured questionnaires as a data collection strategy. A total number of ten experts were selected for the interview using critical case sampling scheme based on the purposive sampling strategy. The study discovers that a dynamic fund structure - one that allows for the fund to evolve with changing circumstances and needs - can be adopted. ...

  • item.jpg
  • Journal Article


  • Authors: Hassan, M. Kabir; Karim, Mohammad Sydul; Muneeza, Aishath (2020)

  • The contention surrounding bitcoin's acceptability and usage has an unsettled premise in both conventional and Shari'ah law, although digital and cryptocurrencies reflect a lasting reality. This research analyses this contention by examining the concept of currency and/or money and the underpinning trust reposed on its issuing authority against the notion that cryptocurrencies and fiat money differ only in form but share the same substance and purport. Qualitative methodology provides an analysis from conventional as well as Shari'ah viewpoints to examine the extent cryptocurrencies can gain admittance in contemporary conventional and Islamic finance and economy. The methodology entai...

  • Exploratory _study_possibility_replacing_tawarruq_based_Islamic_banking_products_using other_alternatives_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ahmad, Zaki; Zahir, Faathih; Usman, Ahmed Mohamud; Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Tawarruq which is also known as commodity murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as "tawarruq banks" and some even call tawarruq as the "magic lamp" of the industry. Shariah scholars have criticised this frequent usage of tawarruq in Islamic banking industry of Malaysia, while the practitioners have replied by saying that if tawarruq is a shariah approved concept, then what is wrong with the usage of it? However, from the shariah perspective, the issue here is not about the shariah compliance of tawarruq transactions per se. It is about t...

  • Application_tawarruq_Islamic_banking_Malaysia_towards_smart_tawarruq_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Roslan, Muhammad Faruq; Bamahriz, Omar; Muneeza, Aishath; JinZi, Chu; Mustapha, Zakariya; Ahmad, Mohamad Zabidi (2020)

  • The objective of the paper is to discuss the application of tawarruq in Islamic banking generally. The modus operandi of tawarruq in Islamic banking is an essential discussion in jurisdiction like Malaysia, where most Islamic banks use tawarruq to structure Islamic banking products. This paper employs a systematic literature review on best practice models and mechanism of current tawarruq application. The outcome of the research helps to understand the modus operandi of tawarruq transactions practically with a view towards understanding its future prospects in the era of fintech. It is envisaged that this research will assist the growing understanding of the existing application of ta...

  • How_Islamic_equities_respond_monetary_actions_Anwer.pdf.jpg
  • Journal Article


  • Authors: Anwer, Zaheer; Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad (2019)

  • The purpose of this paper is to appraise the effectiveness of monetary policy actions in variant market conditions for Islamic stocks. These stocks offer ground for a natural experiment as they have restrictions on the line of business and their distinguished capital structure does not allow them to combat the liquidity crisis through the use of leverage. The paper uses the quantile regression approach for a multi-country sample of Islamic stock indices to assess the impact of domestic as well as US expansionary monetary policy on stock returns of Islamic indices at various locations of distribution of returns. It is found that, at lower return levels, an expansionary monetary policy ...

  • towards_conceptualizing_ethical_decision-making_model_marketing_religious–humanistic_approach_special_reference_ethical_philosophy_Islam_saiful.pdf.jpg
  • Journal Article


  • Authors: Shamsudheen, Shinaj Valangattil; Rosly, Saiful Azhar (2019)

  • This paper aims to present a synthesized conceptual model for ethical decision-making in marketing that accommodates both humanistic and religious aspects. A religious-humanistic approach is adopted on synthesizing. “Ferrell and Gresham’s (1985) contingency framework for ethical decision-making in marketing” and “Al-Ghazali’s ethical philosophy” are considered to be the theoretical base for the synthesized model. Al-Ghazali’s ethical philosophy that stands for the religious dimension in this study was found appropriate for incorporating into the Ferrell and Gresham contingency framework for ethical decision-making in marketing. The approach (religious-humanistic) adopted for synthesiz...

  • brief_history_waqf_Islamic_socio-financial_insttuton_philanthropic_endowment_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Abu Hurairah (May Allah be pleased with him) reported Allah's Messenger (PBUH) as saying: When a man dies his acts come to an end, except three things, recurring charity, or knowledge (by which people benefit), or pious offspring, who pray for him. (Sahih Muslim). Looking at the economic situation of Muslim countries today in terms of their high unemployment rate, high illiteracy rate, lack of healthcare, inadequate transport facilities, the spread of poverty and the low level of food production encourages the author to look at the institution of waqf more profound as an authentic socio-financial tool to help minimize such problems. This raises the following questions; what role did t...

  • 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...

  • 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...

  • modified_reverse_salam_product_innovative_alternative_mobilizing_fixed_deposits_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2019)

  • With the fintech (financial technology) solutions available in the market today, innovative ways to provide financial inclusion is needed. However, the most critical challenge in the arena is the limited availability of sharia-compliant investment avenues in some of the jurisdictions of the world where Islamic banking and finance has not yet fully taken off. The main objective of this research is to introduce a universally accepted mechanism using salam, one of the least used Islamic finance contracts in Islamic commercial banking for mobilizing fixed deposits. This will be ideal to be used in jurisdictions with limited sharia-compliant avenues. This is exploratory legal research that...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 560

Journal Article : [560]

Follow this collection to receive daily e-mail notification of new additions
Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 560
  • item.jpg
  • Journal Article


  • Authors: Chowdhury, Mohammad Ashraful Ferdous; Abdul Kareem, Mohamed Ariff; Mohammed Masih, Abul Mansur; Ismail, Izlin (2020)

  • This study examines the impact of foreign aid on the institutional quality (IQ) of the OIC countries. Using the data of OIC countries for the three-year average period from 1991 to 2016, the system GMM finds that aid in general deteriorates the IQ for the aid recipient countries. However, quantile regression suggests that the negative impact of foreign aid on institutional quality (IQ) is relatively greater in the countries where the existing quality of institution is poor. The findings of the study suggest that improving the existing capacity is essential for reaping the optimum benefit of foreign aid on institutional development.

  • item.jpg
  • Journal Article


  • Authors: Baaquie, Belal E. (2020)

  • Merton has proposed a model of the contingent claims on a firm as an option on the firms value, and the model is based on a generalization of the Black-Scholes stochastic equation. Merton's model can be used to price any contingent claim on the firm. A risk-sharing oscillator model for the pricing of corporate coupon bonds is proposed that leads to stochastic coupons, with the dynamics of the contingent claims being determined by the quantum oscillator. The oscillator model allows for the exact derivation of many results using quantum mathematics. The price of the risk-sharing coupon bonds and the stochastic coupons is derived exactly using the Feynman path integral.

  • item.jpg
  • Journal Article


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

  • This paper aims to examine existing halal certification regime in Maldives and address impediments therein that challenge and inhibit the growth of the country's halal industry in relation to fisheries products. This is qualitative research based on first-hand experiences of the authors in the halal certification process in the Maldives. Doctrinal methodology is used in the analysis of primary sources of data, including Maldivian laws and halal certification regulations to identify issues of practical relevance. This is complemented with content analysis of secondary data sourced from journal articles, books, reports and online databases that were examined in identifying hindrances an...

  • Integration_Islamic_philanthropic_economic_services_alleviation_poverity_case_affordable_housing_Magda et al.pdf.jpg
  • Journal Article


  • Authors: Sadr, Seyed Kazem; Alhabshi, Syed Othman; Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2020)

  • This paper argues that the goal of poverty alleviation and a decent standard of living is not attainable in Muslim communities unless the economic and social services of the Islamic philanthropic institutes are integrated and a full-fledged collaboration would be resumed among the managing boards. The first part of the paper will examine why Muslims participate in altruistic giving and what are the alternative forms of contributions that are provided by Shariah of Islam. The second part will review the potential and actual contributions of the said Islamic benevolent giving for poverty eradication and well-being of low and vulnerable income families. The third and concluding part will...

  • item.jpg
  • Journal Article


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

  • The purpose of this paper is to explore the application of kafalah in the practice of Islamic banking in Malaysia generally and ascertain applicable rules governing the application under relevant legislations and Shariah. The study also aims to examine the legislations in the light of Shariah provisions governing kafalah and propose amendments. This is a qualitative research where primary data sources mainly legislations and secondary sources comprising of articles and books on the subject of kafalah were examined. It is an exploratory legal research that primarily focuses on library studies and adopts doctrinal approach for content analysis of data from the identified sources. Kafala...

  • item.jpg
  • Journal Article


  • Authors: Anwer, Zaheer; Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Paltrinieri, Andrea (2020)

  • The aim of this article is to investigate the motivation of CEOs to invest in Corporate Social Responsibility (CSR) activities. To carry out this analysis, we assess a sample of US conventional and Shariah Compliant (SC) firms, from Dow Jones Indices. As SC firms undergo business and financial screening, they are expected to follow different managerial styles and capital structures as compared to conventional firms. This comparison is important in view of the growing size of the Islamic Financial Services Industry that has surpassed total asset values of USD 2.00 Trillion. Existing literature argues that, for conventional firms, CEOs spend on CSR either to promote their private benefi...

  • item.jpg
  • Journal Article


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

  • This paper aims to develop and validate scale for ethical decision-making model in marketing that confirms religious-humanistic approach with special reference to ethical philosophy in Islam. Synthesized model of Ferrell and Gresham contingency framework for ethical decision-making in marketing and Al-Ghazali's ethical philosophy are considered as theoretical background of this study. Content validity test and factor analysis are used to refine measurement items and define as well as validate the scale, respectively. A total of 362 samples were collected from Islamic banking practitioners in the United Arab Emirates. Item scale of the constructs comprised in the conceptual model defin...

  • item.jpg
  • Journal Article


  • Authors: Mohd Daud, Mohd Ariff; Rosly, Saiful Azhar; Muhamad Sori, Zulkarnain (2020)

  • The purpose of this study is to explore potential fund-raising option that can be developed to attract investment in affordable housing initiatives in Malaysia. In doing so, the study undertakes to discuss the viability of the property trust fund structure as an investment vehicle. The study uses a qualitative design that involves the use of semi-structured questionnaires as a data collection strategy. A total number of ten experts were selected for the interview using critical case sampling scheme based on the purposive sampling strategy. The study discovers that a dynamic fund structure - one that allows for the fund to evolve with changing circumstances and needs - can be adopted. ...

  • item.jpg
  • Journal Article


  • Authors: Hassan, M. Kabir; Karim, Mohammad Sydul; Muneeza, Aishath (2020)

  • The contention surrounding bitcoin's acceptability and usage has an unsettled premise in both conventional and Shari'ah law, although digital and cryptocurrencies reflect a lasting reality. This research analyses this contention by examining the concept of currency and/or money and the underpinning trust reposed on its issuing authority against the notion that cryptocurrencies and fiat money differ only in form but share the same substance and purport. Qualitative methodology provides an analysis from conventional as well as Shari'ah viewpoints to examine the extent cryptocurrencies can gain admittance in contemporary conventional and Islamic finance and economy. The methodology entai...

  • Exploratory _study_possibility_replacing_tawarruq_based_Islamic_banking_products_using other_alternatives_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ahmad, Zaki; Zahir, Faathih; Usman, Ahmed Mohamud; Muneeza, Aishath; Mustapha, Zakariya (2020)

  • Tawarruq which is also known as commodity murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as "tawarruq banks" and some even call tawarruq as the "magic lamp" of the industry. Shariah scholars have criticised this frequent usage of tawarruq in Islamic banking industry of Malaysia, while the practitioners have replied by saying that if tawarruq is a shariah approved concept, then what is wrong with the usage of it? However, from the shariah perspective, the issue here is not about the shariah compliance of tawarruq transactions per se. It is about t...

  • Application_tawarruq_Islamic_banking_Malaysia_towards_smart_tawarruq_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Roslan, Muhammad Faruq; Bamahriz, Omar; Muneeza, Aishath; JinZi, Chu; Mustapha, Zakariya; Ahmad, Mohamad Zabidi (2020)

  • The objective of the paper is to discuss the application of tawarruq in Islamic banking generally. The modus operandi of tawarruq in Islamic banking is an essential discussion in jurisdiction like Malaysia, where most Islamic banks use tawarruq to structure Islamic banking products. This paper employs a systematic literature review on best practice models and mechanism of current tawarruq application. The outcome of the research helps to understand the modus operandi of tawarruq transactions practically with a view towards understanding its future prospects in the era of fintech. It is envisaged that this research will assist the growing understanding of the existing application of ta...

  • How_Islamic_equities_respond_monetary_actions_Anwer.pdf.jpg
  • Journal Article


  • Authors: Anwer, Zaheer; Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad (2019)

  • The purpose of this paper is to appraise the effectiveness of monetary policy actions in variant market conditions for Islamic stocks. These stocks offer ground for a natural experiment as they have restrictions on the line of business and their distinguished capital structure does not allow them to combat the liquidity crisis through the use of leverage. The paper uses the quantile regression approach for a multi-country sample of Islamic stock indices to assess the impact of domestic as well as US expansionary monetary policy on stock returns of Islamic indices at various locations of distribution of returns. It is found that, at lower return levels, an expansionary monetary policy ...

  • towards_conceptualizing_ethical_decision-making_model_marketing_religious–humanistic_approach_special_reference_ethical_philosophy_Islam_saiful.pdf.jpg
  • Journal Article


  • Authors: Shamsudheen, Shinaj Valangattil; Rosly, Saiful Azhar (2019)

  • This paper aims to present a synthesized conceptual model for ethical decision-making in marketing that accommodates both humanistic and religious aspects. A religious-humanistic approach is adopted on synthesizing. “Ferrell and Gresham’s (1985) contingency framework for ethical decision-making in marketing” and “Al-Ghazali’s ethical philosophy” are considered to be the theoretical base for the synthesized model. Al-Ghazali’s ethical philosophy that stands for the religious dimension in this study was found appropriate for incorporating into the Ferrell and Gresham contingency framework for ethical decision-making in marketing. The approach (religious-humanistic) adopted for synthesiz...

  • brief_history_waqf_Islamic_socio-financial_insttuton_philanthropic_endowment_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Abu Hurairah (May Allah be pleased with him) reported Allah's Messenger (PBUH) as saying: When a man dies his acts come to an end, except three things, recurring charity, or knowledge (by which people benefit), or pious offspring, who pray for him. (Sahih Muslim). Looking at the economic situation of Muslim countries today in terms of their high unemployment rate, high illiteracy rate, lack of healthcare, inadequate transport facilities, the spread of poverty and the low level of food production encourages the author to look at the institution of waqf more profound as an authentic socio-financial tool to help minimize such problems. This raises the following questions; what role did t...

  • 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...

  • 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...

  • modified_reverse_salam_product_innovative_alternative_mobilizing_fixed_deposits_aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2019)

  • With the fintech (financial technology) solutions available in the market today, innovative ways to provide financial inclusion is needed. However, the most critical challenge in the arena is the limited availability of sharia-compliant investment avenues in some of the jurisdictions of the world where Islamic banking and finance has not yet fully taken off. The main objective of this research is to introduce a universally accepted mechanism using salam, one of the least used Islamic finance contracts in Islamic commercial banking for mobilizing fixed deposits. This will be ideal to be used in jurisdictions with limited sharia-compliant avenues. This is exploratory legal research that...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 560