Journal Article : [585]

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 585
  • item.jpg
  • Journal Article


  • Authors: Tanin, Tauhidul Islam; Ahmad, Abu Umar Faruq; Muneeza, Aishath (2021)

  • This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks. This study adopts a qualitative research methodology by combining the qualitative descriptive approach and content analysis. The findings of this research suggest that there is scope to converge ethical screening of stocks with Shariah Screening as the lex loci applicable to Shariah screening is derived from Shariah, which considers ethics as part of determining its rules. The data from this study reveal several practical applications, the ultimate goal of which is to help the policymakers and stakeholders understand t...

  • Effects_of_spiritual_intelligence_from_Islamic_perspective_on_emotional_intelligence_AAhad et al.pdf.jpg
  • Journal Article


  • Authors: Anwar, Md. Aftab; Osman-Ghani, AAhad M.; Rahman, Muhammad Sabbir (2020)

  • The aim of this study is to develop a spiritual intelligence scale from an Islamic perspective. In addition, this research explores the relationship of spiritual intelligence from an Islamic perspective with emotional intelligence among the students of higher learning institutions in Malaysia. Data were collected from 250 students from different higher learning institutions in Malaysia. The findings of the study show the relationships of spiritual intelligence from an Islamic perspective and emotional intelligence. Statistically significant relationships were found between four dimensions of spiritual intelligence from an Islamic perspective (e.g. transcendental awareness, meaning of ...

  • Is_there_diversification_cost_Shariah_compliance_Obiyathulla_et al.pdf.jpg
  • Journal Article


  • Authors: Mustaffa Kamil, Nazrol Kamil; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2021)

  • Islamic equity portfolios work with a smaller investment universe given the filtering of non Shari'ah compliant stocks. It has been theoretically argued that this culminates in suboptimal portfolio diversification, which in turn adversely affects risk-adjusted returns. We offer empirical evidence that such a conceived portfolio diversification "penalty" is far from a foregone conclusion, at least empirically. Our results tend to indicate that Islamic portfolios are not invariably handicapped in terms of portfolio diversification. We also explored dimensions that may account for differences in the relative investment performance between Islamic and conventional portfolios, such as port...

  • Determinants_contributing_primary_market_spread_securitization_Malaysia_Baharom et al.pdf.jpg
  • Journal Article


  • Authors: Ngau, Duo Seng; Bakri, Mohammed Hariri; Al Shami, Samer Ali; Abdul Hamid, Baharom; Zainal, Nurazilah (2020)

  • During the year 1997, the Asian financial crisis disclosed the inherent weaknesses of the financial market in Asia. Organisations had an over-dependence to the banks as the primary sources of fund is one of the reasons why companies faced difficulty during the financial crisis. One of the factors that contributed to the financial crisis was that organizations failed to diversify their financing structure. It is to be noted that when organisations want to source for funds, they can either issue stocks, bonds or finance from banks locally or globally. Source capital from equity and borrowing through debt is considered difficult, expensive and will distort the financial leverage of the c...

  • The_potential_fintech_enhancing_use_salam_contract_Islamic_banking_Aishath.pdf.jpg
  • Journal Article


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

  • An Islamic banking system employs different Shariah contracts to develop and offers products and services in different jurisdictions. One of such contracts is salam which is a forward sale contract. This study aims to examine the practice of salam as an instrument of Islamic banks financing and how technology can be used to enhance its application thereto. A qualitative approach is employed in this research where primary data sources on salam contract were examined, along with content analysis of relevant secondary data sources on the contract and how its practiced in Islamic banking. In furtherance of that practice, salam instrument can be leveraged on technology, mainly the blockcha...

  • The_concept_time_value_money_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2013)

  • The purpose of this study is to examine the legal authority of the time value of money in Islam and its application in contemporary Islamic finance. The study aims to establish the Islamic conceptual foundations of TVM and differentiate it from that of conventional finance particularly in relation to the concept of time preference that constitutes essential basis for TVM in conventional finance. This study undertakes a library research where the literature on Islamic jurisprudence in the area of Islamic financial transactions as well as Islamic economics, both in Arabic and English is reviewed critically to construct the conceptual framework of TVM from an Islamic perspective. The fin...

  • An_exploratory_study_musharakah_SRI_sukuk_development_waqf_properties_assets_Malaysia_Zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Zain, Nor Syahirah; Muhamad Sori, Zulkarnain (2020)

  • This study aims to explore a sustainable and responsible investment (SRI) sukuk model based on musharakah that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia. This includes proposing and designing a potential SRI sukuk model and seeking the opinion of subject-matter experts and industry practitioners on the model, its attractiveness to investors and its feasibility to implement in Malaysia. The study adopts desk research and semi-structured interview as its methodology. A desk research is where a detailed critical review and analysis of past literature from reports, journals, framework, books and practices are undertaken. To establ...

  • Need_to_pioneer_Islamic_tourism_tourist_resorts_Maldives_Aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Mustapha, Zakariya; Badeeu, Fathimath Nashwa; Nafiz, Aminath Reesha (2020)

  • The purpose of this paper is to formulate ways in which Maldives could pioneer Islamic tourism on a befitting framework and financing structure as a leverage to develop its tourism industry. The research uses qualitative approach whereby primary and empirical data on tourism practices as well as relevant laws and guidelines, issued in Maldives and in other Muslim jurisdictions of the Muslim, are analyzed. Doctrinal approach is used in analyzing secondary data on the subject. The research reveals the potential of Islamic tourism in Maldives as well as the challenges that have constrained its development in the country. Certainty is needed in halal products, services and conducts. Codif...

  • Competition_diversification_stability_the_Indonesia_banking_system_Baharom et al.pdf.jpg
  • Journal Article


  • Authors: Khattak, Mudeer Ahmed; Abdul Hamid, Baharom; Islam, Muhammad Umar; Ali, Mohsin (2021)

  • We examine the impact of competition and portfolio diversification on banking stability for conventional and Islamic banks in Indonesia. We find that the Islamic banking sector is less stable, when compared to the conventional banking sector. Competition in the banking sector reduces stability, while diversification enhances it. We find that competition negatively impacts the Islamic banks, but diversification has no impact on these banks. An interesting finding is that competition and diversification complement each other in enhancing the stability of the Indonesian banking sector. These findings carry an important policy implication for the banking sector of Indonesia.

  • The_effectiveness_of_the_bank_lending_channel_Kinan et al.pdf.jpg
  • Journal Article


  • Authors: Alaeddin, Omar; Abojeib, Mhd Moutaz; Naeem Azmi, Choudhary Wajahat; Alchaar, Mhd Osama; Salim, Kinan (2019)

  • This paper examines the effectiveness of the bank lending channel in a dual banking system in Malaysia, where both conventional and Islamic banks operate alongside each other. It also investigates the impact of bank competition on lending channels in financial systems. Using panel data from both Islamic and conventional banks in Malaysia, our findings indicate the ineffectiveness of the bank lending channel. Further, the empirical results suggest that the impact of monetary policy on bank lending does not depend on bank competition. In other words, the effectiveness of the lending transmission channel does not depend on the market power of the individual banks. Furthermore, the effect...

  • Measuring_ethical_judgement_on_ethical_choice_ethical_system_Saiful.pdf.jpg
  • Journal Article


  • Authors: Shamsudheen, Shinaj Valangattil; Rosly, Saiful Azhar (2021)

  • This paper aims to examine the influence of ethical judgement on decision-making behaviour related to ethical issues of Islamic banking practitioners in the United Arab Emirates (UAE). The study adopted a confirmatory approach in which validated/established "normative ethical standards" are taken into the consideration as theoretical underpinning. In total, 262 samples are collected from Islamic banking practitioners in the UAE and data analysis is conducted using structural equation modelling. The empirical findings indicate that the decision-making behaviour related to ethical issues of Islamic banking practitioners in UAE does not adhere to any set of normative ethical standards an...

  • item.jpg
  • Journal Article


  • Authors: Alam, Md. Kausar; Ahmad, Abu Umar Faruq; Muneeza, Aishath (2020)

  • External Shari'ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Shari'ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Shari'ah compliance. This study principally aims to examine the relevancy of ESA and review committee in enhancing the level of Shari'ah compliance quality and accountability of IBs in Bangladesh. The study examines data from 17 respondents obtained via semistructured interviews and secondary sources in library. This study establishes that Shari'ah officers of IBs in Bangladesh are unable to perform audit functions properly which indicates the limitations of curr...

  • Corporate_social_responsibility_contribution_socio_economic_development_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ma'ruf, Aminudin; Alam, Shahbaz; Muneeza, Aishath (2020)

  • Islamic banks play a significant role in social and environmental responsibility. It is known that Islamic finance is not merely profit-oriented but also looking at the prosperity of the society, as an ethical financial system Islamic finance give a massive contribution towards social responsibility. This exploratory study examines the relations between corporate social responsibility (CSR) practices of Indonesian Islamic banks and socio-economic development. The evidence presented is based on the published annual reports of 13 Islamic commercial banks in 2017. The findings of this research suggests that CSR is a priority of Indonesian Islamic banks and has correlation to the socio-ec...

  • Legal_Shariah_non_compliance risks_Nigerian_Islamic_finance_industry_review_literature_Aishath.pdf.jpg
  • Journal Article


  • Authors: Mustapha, Zakariya; Kunhibava, Sherin; Muneeza, Aishath (2021)

  • The purpose of this paper is to review the literature on Islamic finance vis-a-vis legal and Shari'ah non-compliance risks in its transactions and judicial dispute resolution in Nigeria. This is with a view to putting forward direction for future studies on the duo of legal and Shari'ah non-compliance risks and their impact in Islamic finance. This review is designed as an exploratory study and qualitative methodology is used in examining relevant literature comprising of primary and secondary data while identifying legal risk and Shari'ah non-compliance risks of Nigeria's Islamic finance industry. Using the doctrinal approach together with content analysis, relevant Nigerian laws and...

  • Application_of_precious_metal-backed_cryptocurrency_Islamic_finance_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Hassan, M. Kabir; Muneeza, Aishath; Abubakar, Mustapha; Haruna, Muhammad Auwalu (2021)

  • Finance industry has become an essential part of the digital transformation in the perspective of Industry 4.0. The objective of this research is to find out the prospects of applying precious metal-backed cryptocurrency (PMBC) to Islamic finance by exploring its application to the different Islamic finance contracts for structuring Islamic finance products. A qualitative methodology is employed in conducting this research where relevant literature on the subject matter was reviewed. By using doctrinal approach, the paper presents Shari'ah compatibility of and issues in application of PMBC to Islamic finance contracts. The outcome of the research reveals that there is scope to use PMB...

  • Mechanisms_to_handle_default_cases_Islamic_banking_aishath.pdf.jpg
  • Journal Article


  • Authors: Hassan, M. Kabir; Muneeza, Aishath; Mustapha, Zakariya (2021)

  • This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though ...

  • item.jpg
  • Journal Article


  • Authors: Kunhibava, Sherin; Mustapha, Zakariya; Muneeza, Aishath; Sa'ad, Auwal Adam; Karim, Mohammad Ershadul (2021)

  • This paper aims to explore issues arising from sukuk (Islamic bonds) on blockchain, including Shari'ah (Islamic law) and legal matters. A qualitative methodology is used in conducting this research where relevant literature on sukuk was reviewed. Through a doctrinal approach, the paper presents analyses on the practice of sukuk and sukuk on blockchain by discussing its legal, Shari'ah and regulatory issues. This culminates in a conceptual analysis of blockchain sukuk and its peculiar challenges. This paper reveals that digitizing sukuk issuance through blockchain remedies certain inefficiencies associated with sukuk transactions. Indeed, structuring sukuk on a blockchain platform can ...

  • item.jpg
  • Journal Article


  • Authors: Seho, Mirzet; Bacha, Obiyathulla Ismath; Smolo, Edib (2020)

  • In theory, the cornerstones of Islamic finance are interest avoidance and risk-sharing. In practice, however, Islamic banks seem to be lacking both, particularly the latter. We investigate the interest rate impact on Islamic banks' three most-widely used types of financing instruments - i.e. sale-based, lease-based and risk-sharing-by employing the system GMM estimators on a unique panel data set of 77 Islamic banks from 13 countries over the period 2003-2017. We find that sale- and lease-based financing instruments are negatively correlated with the interest rate and that their exposure is amplified in more developed Islamic banking jurisdictions. Risk-sharing instruments, however, a...

  • item.jpg
  • Journal Article


  • Authors: Saba, Irum; Abdul Kareem, Mohamed Ariff; Mohd Rasid, Mohamed Eskandar Shah (2020)

  • Shari'ah provides the basic tenets of the Islamic finance industry and advocates banks to share their profits and losses with investors. But what it means for a firm to be "Shari'ah-compliant" and what form of connections it can have, even in theory, to either the firm's value or profitability is still an untapped question. This study tries to answer this question. This study aims to find the impact of Shari'ah compliance on firm performance. The results obtained would be useful in helping investors, regulators, companies, government, academicians and practitioners in their decision-making process as to ensure better economic and business gains, both locally and globally. Panel data o...

  • Bilateral_rebate_ibra_mutabadal_Islamic_banking_operation_critical_appraisal_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2016)

  • This study aims to examine the scholars' views on the legality of bilateral rebate in Islamic financial transactions. It also aims to evaluate the contemporary application of bilateral rebate in Islamic banking operation as an alternative to the conventional mechanism in handling the events of early settlement of debt, early termination of debt facility and early withdrawal of term deposit. The study used deductive and inductive methods to analyze the juristic literature of all the major schools of law on the legality of both bilateral and unilateral rebate in a financial transaction. The study found bilateral rebate (ibra' mutabadal), instead of unilateral rebate, to be the best and ...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 585

Journal Article : [585]

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 585
  • item.jpg
  • Journal Article


  • Authors: Tanin, Tauhidul Islam; Ahmad, Abu Umar Faruq; Muneeza, Aishath (2021)

  • This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks. This study adopts a qualitative research methodology by combining the qualitative descriptive approach and content analysis. The findings of this research suggest that there is scope to converge ethical screening of stocks with Shariah Screening as the lex loci applicable to Shariah screening is derived from Shariah, which considers ethics as part of determining its rules. The data from this study reveal several practical applications, the ultimate goal of which is to help the policymakers and stakeholders understand t...

  • Effects_of_spiritual_intelligence_from_Islamic_perspective_on_emotional_intelligence_AAhad et al.pdf.jpg
  • Journal Article


  • Authors: Anwar, Md. Aftab; Osman-Ghani, AAhad M.; Rahman, Muhammad Sabbir (2020)

  • The aim of this study is to develop a spiritual intelligence scale from an Islamic perspective. In addition, this research explores the relationship of spiritual intelligence from an Islamic perspective with emotional intelligence among the students of higher learning institutions in Malaysia. Data were collected from 250 students from different higher learning institutions in Malaysia. The findings of the study show the relationships of spiritual intelligence from an Islamic perspective and emotional intelligence. Statistically significant relationships were found between four dimensions of spiritual intelligence from an Islamic perspective (e.g. transcendental awareness, meaning of ...

  • Is_there_diversification_cost_Shariah_compliance_Obiyathulla_et al.pdf.jpg
  • Journal Article


  • Authors: Mustaffa Kamil, Nazrol Kamil; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2021)

  • Islamic equity portfolios work with a smaller investment universe given the filtering of non Shari'ah compliant stocks. It has been theoretically argued that this culminates in suboptimal portfolio diversification, which in turn adversely affects risk-adjusted returns. We offer empirical evidence that such a conceived portfolio diversification "penalty" is far from a foregone conclusion, at least empirically. Our results tend to indicate that Islamic portfolios are not invariably handicapped in terms of portfolio diversification. We also explored dimensions that may account for differences in the relative investment performance between Islamic and conventional portfolios, such as port...

  • Determinants_contributing_primary_market_spread_securitization_Malaysia_Baharom et al.pdf.jpg
  • Journal Article


  • Authors: Ngau, Duo Seng; Bakri, Mohammed Hariri; Al Shami, Samer Ali; Abdul Hamid, Baharom; Zainal, Nurazilah (2020)

  • During the year 1997, the Asian financial crisis disclosed the inherent weaknesses of the financial market in Asia. Organisations had an over-dependence to the banks as the primary sources of fund is one of the reasons why companies faced difficulty during the financial crisis. One of the factors that contributed to the financial crisis was that organizations failed to diversify their financing structure. It is to be noted that when organisations want to source for funds, they can either issue stocks, bonds or finance from banks locally or globally. Source capital from equity and borrowing through debt is considered difficult, expensive and will distort the financial leverage of the c...

  • The_potential_fintech_enhancing_use_salam_contract_Islamic_banking_Aishath.pdf.jpg
  • Journal Article


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

  • An Islamic banking system employs different Shariah contracts to develop and offers products and services in different jurisdictions. One of such contracts is salam which is a forward sale contract. This study aims to examine the practice of salam as an instrument of Islamic banks financing and how technology can be used to enhance its application thereto. A qualitative approach is employed in this research where primary data sources on salam contract were examined, along with content analysis of relevant secondary data sources on the contract and how its practiced in Islamic banking. In furtherance of that practice, salam instrument can be leveraged on technology, mainly the blockcha...

  • The_concept_time_value_money_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2013)

  • The purpose of this study is to examine the legal authority of the time value of money in Islam and its application in contemporary Islamic finance. The study aims to establish the Islamic conceptual foundations of TVM and differentiate it from that of conventional finance particularly in relation to the concept of time preference that constitutes essential basis for TVM in conventional finance. This study undertakes a library research where the literature on Islamic jurisprudence in the area of Islamic financial transactions as well as Islamic economics, both in Arabic and English is reviewed critically to construct the conceptual framework of TVM from an Islamic perspective. The fin...

  • An_exploratory_study_musharakah_SRI_sukuk_development_waqf_properties_assets_Malaysia_Zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Zain, Nor Syahirah; Muhamad Sori, Zulkarnain (2020)

  • This study aims to explore a sustainable and responsible investment (SRI) sukuk model based on musharakah that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia. This includes proposing and designing a potential SRI sukuk model and seeking the opinion of subject-matter experts and industry practitioners on the model, its attractiveness to investors and its feasibility to implement in Malaysia. The study adopts desk research and semi-structured interview as its methodology. A desk research is where a detailed critical review and analysis of past literature from reports, journals, framework, books and practices are undertaken. To establ...

  • Need_to_pioneer_Islamic_tourism_tourist_resorts_Maldives_Aishath.pdf.jpg
  • Journal Article


  • Authors: Muneeza, Aishath; Mustapha, Zakariya; Badeeu, Fathimath Nashwa; Nafiz, Aminath Reesha (2020)

  • The purpose of this paper is to formulate ways in which Maldives could pioneer Islamic tourism on a befitting framework and financing structure as a leverage to develop its tourism industry. The research uses qualitative approach whereby primary and empirical data on tourism practices as well as relevant laws and guidelines, issued in Maldives and in other Muslim jurisdictions of the Muslim, are analyzed. Doctrinal approach is used in analyzing secondary data on the subject. The research reveals the potential of Islamic tourism in Maldives as well as the challenges that have constrained its development in the country. Certainty is needed in halal products, services and conducts. Codif...

  • Competition_diversification_stability_the_Indonesia_banking_system_Baharom et al.pdf.jpg
  • Journal Article


  • Authors: Khattak, Mudeer Ahmed; Abdul Hamid, Baharom; Islam, Muhammad Umar; Ali, Mohsin (2021)

  • We examine the impact of competition and portfolio diversification on banking stability for conventional and Islamic banks in Indonesia. We find that the Islamic banking sector is less stable, when compared to the conventional banking sector. Competition in the banking sector reduces stability, while diversification enhances it. We find that competition negatively impacts the Islamic banks, but diversification has no impact on these banks. An interesting finding is that competition and diversification complement each other in enhancing the stability of the Indonesian banking sector. These findings carry an important policy implication for the banking sector of Indonesia.

  • The_effectiveness_of_the_bank_lending_channel_Kinan et al.pdf.jpg
  • Journal Article


  • Authors: Alaeddin, Omar; Abojeib, Mhd Moutaz; Naeem Azmi, Choudhary Wajahat; Alchaar, Mhd Osama; Salim, Kinan (2019)

  • This paper examines the effectiveness of the bank lending channel in a dual banking system in Malaysia, where both conventional and Islamic banks operate alongside each other. It also investigates the impact of bank competition on lending channels in financial systems. Using panel data from both Islamic and conventional banks in Malaysia, our findings indicate the ineffectiveness of the bank lending channel. Further, the empirical results suggest that the impact of monetary policy on bank lending does not depend on bank competition. In other words, the effectiveness of the lending transmission channel does not depend on the market power of the individual banks. Furthermore, the effect...

  • Measuring_ethical_judgement_on_ethical_choice_ethical_system_Saiful.pdf.jpg
  • Journal Article


  • Authors: Shamsudheen, Shinaj Valangattil; Rosly, Saiful Azhar (2021)

  • This paper aims to examine the influence of ethical judgement on decision-making behaviour related to ethical issues of Islamic banking practitioners in the United Arab Emirates (UAE). The study adopted a confirmatory approach in which validated/established "normative ethical standards" are taken into the consideration as theoretical underpinning. In total, 262 samples are collected from Islamic banking practitioners in the UAE and data analysis is conducted using structural equation modelling. The empirical findings indicate that the decision-making behaviour related to ethical issues of Islamic banking practitioners in UAE does not adhere to any set of normative ethical standards an...

  • item.jpg
  • Journal Article


  • Authors: Alam, Md. Kausar; Ahmad, Abu Umar Faruq; Muneeza, Aishath (2020)

  • External Shari'ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Shari'ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Shari'ah compliance. This study principally aims to examine the relevancy of ESA and review committee in enhancing the level of Shari'ah compliance quality and accountability of IBs in Bangladesh. The study examines data from 17 respondents obtained via semistructured interviews and secondary sources in library. This study establishes that Shari'ah officers of IBs in Bangladesh are unable to perform audit functions properly which indicates the limitations of curr...

  • Corporate_social_responsibility_contribution_socio_economic_development_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Ma'ruf, Aminudin; Alam, Shahbaz; Muneeza, Aishath (2020)

  • Islamic banks play a significant role in social and environmental responsibility. It is known that Islamic finance is not merely profit-oriented but also looking at the prosperity of the society, as an ethical financial system Islamic finance give a massive contribution towards social responsibility. This exploratory study examines the relations between corporate social responsibility (CSR) practices of Indonesian Islamic banks and socio-economic development. The evidence presented is based on the published annual reports of 13 Islamic commercial banks in 2017. The findings of this research suggests that CSR is a priority of Indonesian Islamic banks and has correlation to the socio-ec...

  • Legal_Shariah_non_compliance risks_Nigerian_Islamic_finance_industry_review_literature_Aishath.pdf.jpg
  • Journal Article


  • Authors: Mustapha, Zakariya; Kunhibava, Sherin; Muneeza, Aishath (2021)

  • The purpose of this paper is to review the literature on Islamic finance vis-a-vis legal and Shari'ah non-compliance risks in its transactions and judicial dispute resolution in Nigeria. This is with a view to putting forward direction for future studies on the duo of legal and Shari'ah non-compliance risks and their impact in Islamic finance. This review is designed as an exploratory study and qualitative methodology is used in examining relevant literature comprising of primary and secondary data while identifying legal risk and Shari'ah non-compliance risks of Nigeria's Islamic finance industry. Using the doctrinal approach together with content analysis, relevant Nigerian laws and...

  • Application_of_precious_metal-backed_cryptocurrency_Islamic_finance_aishath et al.pdf.jpg
  • Journal Article


  • Authors: Hassan, M. Kabir; Muneeza, Aishath; Abubakar, Mustapha; Haruna, Muhammad Auwalu (2021)

  • Finance industry has become an essential part of the digital transformation in the perspective of Industry 4.0. The objective of this research is to find out the prospects of applying precious metal-backed cryptocurrency (PMBC) to Islamic finance by exploring its application to the different Islamic finance contracts for structuring Islamic finance products. A qualitative methodology is employed in conducting this research where relevant literature on the subject matter was reviewed. By using doctrinal approach, the paper presents Shari'ah compatibility of and issues in application of PMBC to Islamic finance contracts. The outcome of the research reveals that there is scope to use PMB...

  • Mechanisms_to_handle_default_cases_Islamic_banking_aishath.pdf.jpg
  • Journal Article


  • Authors: Hassan, M. Kabir; Muneeza, Aishath; Mustapha, Zakariya (2021)

  • This research investigates how Islamic banking institutions control default cases and the mechanisms they employ in handling such cases with reference to Malaysian Islamic banking regime. It was conducted on an exploratory design that employed doctrinal approach. Data were sourced from relevant statutes, regulatory guidelines, policy documents and established practices among Islamic banking institutions as well as academic texts that pertain to default cases. The data were examined with legal reasoning and qualitative analysis. The research finds that Islamic banks are prone to default cases and provide internal and external mechanisms to handle such cases in their operations. Though ...

  • item.jpg
  • Journal Article


  • Authors: Kunhibava, Sherin; Mustapha, Zakariya; Muneeza, Aishath; Sa'ad, Auwal Adam; Karim, Mohammad Ershadul (2021)

  • This paper aims to explore issues arising from sukuk (Islamic bonds) on blockchain, including Shari'ah (Islamic law) and legal matters. A qualitative methodology is used in conducting this research where relevant literature on sukuk was reviewed. Through a doctrinal approach, the paper presents analyses on the practice of sukuk and sukuk on blockchain by discussing its legal, Shari'ah and regulatory issues. This culminates in a conceptual analysis of blockchain sukuk and its peculiar challenges. This paper reveals that digitizing sukuk issuance through blockchain remedies certain inefficiencies associated with sukuk transactions. Indeed, structuring sukuk on a blockchain platform can ...

  • item.jpg
  • Journal Article


  • Authors: Seho, Mirzet; Bacha, Obiyathulla Ismath; Smolo, Edib (2020)

  • In theory, the cornerstones of Islamic finance are interest avoidance and risk-sharing. In practice, however, Islamic banks seem to be lacking both, particularly the latter. We investigate the interest rate impact on Islamic banks' three most-widely used types of financing instruments - i.e. sale-based, lease-based and risk-sharing-by employing the system GMM estimators on a unique panel data set of 77 Islamic banks from 13 countries over the period 2003-2017. We find that sale- and lease-based financing instruments are negatively correlated with the interest rate and that their exposure is amplified in more developed Islamic banking jurisdictions. Risk-sharing instruments, however, a...

  • item.jpg
  • Journal Article


  • Authors: Saba, Irum; Abdul Kareem, Mohamed Ariff; Mohd Rasid, Mohamed Eskandar Shah (2020)

  • Shari'ah provides the basic tenets of the Islamic finance industry and advocates banks to share their profits and losses with investors. But what it means for a firm to be "Shari'ah-compliant" and what form of connections it can have, even in theory, to either the firm's value or profitability is still an untapped question. This study tries to answer this question. This study aims to find the impact of Shari'ah compliance on firm performance. The results obtained would be useful in helping investors, regulators, companies, government, academicians and practitioners in their decision-making process as to ensure better economic and business gains, both locally and globally. Panel data o...

  • Bilateral_rebate_ibra_mutabadal_Islamic_banking_operation_critical_appraisal_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2016)

  • This study aims to examine the scholars' views on the legality of bilateral rebate in Islamic financial transactions. It also aims to evaluate the contemporary application of bilateral rebate in Islamic banking operation as an alternative to the conventional mechanism in handling the events of early settlement of debt, early termination of debt facility and early withdrawal of term deposit. The study used deductive and inductive methods to analyze the juristic literature of all the major schools of law on the legality of both bilateral and unilateral rebate in a financial transaction. The study found bilateral rebate (ibra' mutabadal), instead of unilateral rebate, to be the best and ...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 585