Master : [64]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 64
  • item.jpg
  • Master


  • Authors: Tayeb, Hamza Ait (2018)

  • This study aims to apply the Autoregressive Distributed Lag (ARDL) technique to analyze the macroeconomic impacts of oil proces on oil importing and oil exporting economis using Russia and Japan as evidence. Quarterly data from 1997 till 2017 of macroeconomic indicators like GDP growth, CPI, exchange rate, PPI, and oil prices were used in this study. Our results indicate that in an oil importing country like Japan, oil price increase has inflationary effects on the domestic economy as the average prices increase. Also, it was found that economic growth tends to decline in the wake of rising oil prices. The value of the currency is also shown to depreciate vis-a-vis the US Dollar as t...

  • item.jpg
  • Master


  • Authors: Mohd Ariff, Mohd Azwar Izet (2017)

  • This case study examines the issuance of Sukuk Ihsan, viewing it as the within the context of the first sustainable and responsible investment in Malaysia rather than simply a plain investment itself. Sustainable and responsible investment have focused primarily on Sustainable Development Goals (SDGs), and in doing so, Sukuk is blend with sustainable and responsible investment goals in making Sukuk more relevant and competitive in capital market. I examine issuance ofSukuk Ihsan with view ofensuring that sustainable and responsible investment sukuk characteristics is able to meet contemporary practice that wiil make it attractive for prospective buyers , thus improving the ajJordabili...

  • item.jpg
  • Master


  • Authors: Mohd Affendi, Nur Diyana Najwa (2019)

  • The sharing economy is a new uprising economic system that is built upon the sharing of assets via digital platforms to create economic value through maximizing utilisation of resources between individuals, businesses and government. Perceived as a strong advocate for sustainability, the sharing economy has contributed to a profound shift in global consumer consumption behaviour. Positive to its potential to be utilised as driver for sustainable development, this paper aims to uncover the role of sharing economy towards sustainable development of Malaysia. The study employed three qualitative research methods, namely phenomenography, semi-structured interview and content analysis. The...

  • item.jpg
  • Master


  • Authors: Jin Zichu (2018)

  • China is currently building a network with more than 80 countries across Asia, Africa, Europe, and Oceania initiating "One Belt and One Road". The main focus of the Belt and Road Initiative (BRI) is in infrastructure transportation, and energy. Countries with majority of Muslim population are involved in BRI and in some ofthese countries Islamic finance is being adopted. The public-private partnership (PPP) model is an important way of infrastructure financing which has potential in reducing government financial pressure by improving operation efficiency, service quality and societal benefits. World Bank report (2018) has discussed flexibility of Islamic financing and the cracking pot...

  • item.jpg
  • Master


  • Authors: Yousafzai, Essa Omar (2018)

  • This paper aims to investigate whether Shari'ah stock index, exchange rates and macroeconomic forces in Japan have any long run relationship or not. If the relationship exists, does the Shari'ah stock index lead or lag? The paper is likely to be the first study that investigates the causal relationship of aforementioned variables and the Shari'ah Index in Japan. Current literature on the topic in different countries gives either contradictory or inclusive results. This study will try to fill two gaps, one relating to Japan, and another relating to Islamic Indices. It employed quarterly data from 2007 to 2017. Auto-Regressive Distributed lag (ARDL) time series technique is applied to c...

  • item.jpg
  • Master


  • Authors: Hussain, Siti Noorbaini (2018)

  • Amanah Ikhtiar Malaysia or history of AIM is closely linked to the establishment of Grameen Bank. It all began when Prof. Dr Muhammad Yunus, Economic lecturer at Chittagong University of Bangladesh conducted a study in 1976 with a sample of poor community that rarely engage in the banking world. From his study, these poor people are not able to improve their standard of living due to lack of capital. Therefore, Prof. Yunus suggests that capital injection is a basic human right and shall be given to the poor people in helping them to improve their social and economic welfares ...

  • item.jpg
  • Master


  • Authors: Guedira, Souhaila (2019)

  • This study is an initial attempt investigating the extent to which portfolio diversification benefits are available at different investment horizons to Tuskish conventional and Shari'ah compliant investors in Southeast Asian conventional and Islamic stock markets. We apply multivariate-generalized autoregressive conditional heteroscedastic (MGARCH-DCC) and Wavelet techniques on daily data spanning from 2007 to 2018. The findings tend to suggest that Turkish investors would likely not invest in Singapore stock markets. At the same time, investing in stock indices of Indonesia and Thailand present moderate diversification benefits overall. The results highly recommend that Turkish conve...

  • item.jpg
  • Master


  • Authors: Haffejee, Muhammad Ismail (2018)

  • The Islamic finance industry continues to be characterized by uncertainty over how it will deal with individual as well as corporate insolvency. As a result, interest in this area of law is growing. To this end, Islamic insolvency law is emerging as an independent field of study. Being a legal exploratory study using the library method, this study aims to highlight some of the humane principles that should inform a framework for the industry. The author made an attempt to trace back these humane principles to the primary and secondary sources of Islamic jurisprudence. In addition, the author has attempted to focus on the specific legal differences between Islamic and civil law in term...

  • item.jpg
  • Master


  • Authors: Roslan, Muhammad Faruq (2018)

  • The current global market is not seeing enough investment products catered to impact investing strategy, especially in the public equity context; this gap needs to be addressed as the construct of their massive size and relationships across the supply chain would implicitly cause social and environmental impacts at every level. Thus, investors seeking to impart positive changes beyond mere financial returns must also assess the positive and negative impacts oftheir public equities portfolio as the bulk of their capital's impact lies there. In assessing non-financial impacts, big data could be leveraged to materialise these impacts. The study explores the big data ecosystem and suggest...

  • item.jpg
  • Master


  • Authors: Reza, Md Ridwan (2018)

  • The study employs different types ofrelatively novel Markov regime switching GARCH (MRS-GARCH) models along with standard GARCH to identify better models to forecast the conditional volatility of Dow Jones Islamic Market World Index (DJIM). Several statistical and risk-management-based loss functions are employed to evaluate the out-of-sample volatility and Value-at-Risk (VaR) forecast from these models. Our empirical results show that although there is no single model - either of standard GARCH and MRS-GARCH type - is consistently outperforming the others if both the statistical and the risk-management loss functions are considered, overall different asymmetric Markov regime switchin...

  • item.jpg
  • Master


  • Authors: Mohd Mazlan, Muhammad Zuhry (2018)

  • Public-Private Partnership (PPP) initiative increases economic growth as well as optimise resources in public sector due to private sector plays important roles in striking a balance of the country's financial statement. It is observed that some of the PPP models for economic development in Malaysia are not Shariah-compliant. This paper discusses on the level of compliance for the PPP models against Shariah parameters and to provide altematives should there is any non-Shariah compliant. The parameters consider form and substance perspectives including identification of prohibited elements. It is observed that two (2) models; Build-Lease-Transfer and Build-Lease-Maintain-Transfer are n...

  • item.jpg
  • Master


  • Authors: Abu Bakar, Muhammad (2018)

  • Islamic banking industry in Pakistan has been growing since its inception back in 2001. The assets and deposits of Islamic banking industry 11.9% and 13.7% respectively of overall banking industry by the end of September 2017. However, still being a small portion in overall banking industry, Islamic banks make efforts to come up with innovative products which on one hand must Shariah compliant as well as competitive with conventional products. This study discusses a specific product namely "running musharakah" which is proposed by Shaykh Taqi Usmani in 1998 for the financing of working capital and operational needs based on the concept of Shirkah al-aqd. This idea is adopted by Meezan...

  • item.jpg
  • Master


  • Authors: Bai, Chen (2017)

  • With the development of Islamic banking and finance in most Muslim countries, money market became necessary for financial institution to solve the liquidity problems. However, there is much criticism of Islamic banks and financial products for their pegging to the interest rate. Islamic money market is based on the same PLS principle with other Islamic financial products, if such products are pegged to their rate of interest, then they are not PLS. More correctly, they are based on well-and sometimes not so well-hidden conventional or interest-based contracts ...

  • item.jpg
  • Master


  • Authors: Mohamad Zain, Nor Syahirah (2017)

  • There is an urgency to explore and structure innovative financial mechanisms like SRI sukuk to develop waqf properties and assets because if this is delayed, many opportunities in enhancing social welfare and economic development will be missed. SRI sukuk can be innovatively structured to support financing the development waqf assets into viable income-generating assets that can help with social programmes, and at the same time, maximise the potential of sukuk in achieving the objectives (maqasid) of Islamic finance. The study aims to explore SRI sukuk models that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia ...

  • item.jpg
  • Master


  • Authors: Aden Abdi, Aisha (2017)

  • The internal control system is designed as comprising technical practices to prevent or detect accounting errors or loss of assets. However, the scandals and collapse of the financial institutions in recent years has asserted the importance of the internal control system. This study aims to develop an internal control framework that can be applied to the Islamic financial transactions. COSO framework is a regular internal control designed for the financial organisations commonly to realise their objectives about the effectiveness and efficiency, reliable financial reporting and compliance with the laws and regulation ...

  • item.jpg
  • Master


  • Authors: Mohd Hodori, Muhammad 'Arif (2017)

  • Herding behaviour refers to an alignment of thoughts or behaviours of individuals in a group. In the case of capital market, it has been studied by several researchers such as Chang et al. (2000) and (Gavriilidis et al., 2015). Being a multicultural and multiracial country, and one of the main markets for the Islamic capital market, Malaysia provides a conducive landscape for the study of herding behaviour. The main motive for conducting this study is to investigate the presence of herding behaviour in Malaysia's religious holiday period, it's characteristic in reference to all securities and shariah-compliant securities ...

  • item.jpg
  • Master


  • Authors: Hassan, Mohamed (2017)

  • The flows of foreign investment are the fundamental elements in the economic growth of countries within the globalization process of economy. Canada has a highly-developed economy, advanced technological infrastructure that will allow them to attract flows of FDI. This study makes an attempt to test the possible directions of causality between exchange rate and flows of foreign direct investment in Canada for the period of 1970 to 2015. The methods applied are the error corrections and variance decompositions techniques including LRSM. To the best of my knowledge, there has not been any study on this issue using this technique. Our findings on this study suggests that the direction of...

  • item.jpg
  • Master


  • Authors: Abdul Rahman, Salman (2017)

  • Cash waqf plays an important role if channelled to address economic challenges upon specific segment in the society for their sustainable economic empowerment prepare them upon economic challenges ahead. Through the application of cash waqf, we are able to promote the benefits of Islamic waqf to the society. In this paper, we analyse economic challenges among youth in a developing economic environment in the case of Malaysia. We also try to investigate the practicality of cash waqf utilization as major solutions to the problems. Based on qualitative approach covering library and online academic study, we try to analyse how Islamic cash waqf development can empower the youth ...

  • item.jpg
  • Master


  • Authors: Khairetdinova, Kamila (2017)

  • The Russian Federation is emerging and yet, according to some experts, potentially successful marketplace for Islamic financial system development and it is in the stage of choosing the path it should take to achieve this goal. It is essential to determine the best possible option that could be suitable for it to adopt as the reputational risk is very high (and moreover, unfortunately it has already faced the compelled termination of several Islamic finance projects in its history). Should the Russian Federation learn from the experience of other Muslim-minority countries (there is also a misconception revealed in this paper that it is not correct to put Muslim-majority ...

  • item.jpg
  • Master


  • Authors: Azzi, Abdelkebir (2017)

  • Oil prices in the global market is usually found to be correlated with the economic growth of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between oil prices and macroeconomic variables in the Moroccan economy. Using the Moroccan monthly data from 2007-2016 and the time series techniques such as co-integration, long run structural modelling, vector error correction, and variance decomposition, we found a significant statistical relationship existing between inflation, oil price, trade balance, interest rate, and economic growth, whereby oil price and interest rate are significant macroeconomic ... Available in physical c...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 64

Master : [64]

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 64
  • item.jpg
  • Master


  • Authors: Tayeb, Hamza Ait (2018)

  • This study aims to apply the Autoregressive Distributed Lag (ARDL) technique to analyze the macroeconomic impacts of oil proces on oil importing and oil exporting economis using Russia and Japan as evidence. Quarterly data from 1997 till 2017 of macroeconomic indicators like GDP growth, CPI, exchange rate, PPI, and oil prices were used in this study. Our results indicate that in an oil importing country like Japan, oil price increase has inflationary effects on the domestic economy as the average prices increase. Also, it was found that economic growth tends to decline in the wake of rising oil prices. The value of the currency is also shown to depreciate vis-a-vis the US Dollar as t...

  • item.jpg
  • Master


  • Authors: Mohd Ariff, Mohd Azwar Izet (2017)

  • This case study examines the issuance of Sukuk Ihsan, viewing it as the within the context of the first sustainable and responsible investment in Malaysia rather than simply a plain investment itself. Sustainable and responsible investment have focused primarily on Sustainable Development Goals (SDGs), and in doing so, Sukuk is blend with sustainable and responsible investment goals in making Sukuk more relevant and competitive in capital market. I examine issuance ofSukuk Ihsan with view ofensuring that sustainable and responsible investment sukuk characteristics is able to meet contemporary practice that wiil make it attractive for prospective buyers , thus improving the ajJordabili...

  • item.jpg
  • Master


  • Authors: Mohd Affendi, Nur Diyana Najwa (2019)

  • The sharing economy is a new uprising economic system that is built upon the sharing of assets via digital platforms to create economic value through maximizing utilisation of resources between individuals, businesses and government. Perceived as a strong advocate for sustainability, the sharing economy has contributed to a profound shift in global consumer consumption behaviour. Positive to its potential to be utilised as driver for sustainable development, this paper aims to uncover the role of sharing economy towards sustainable development of Malaysia. The study employed three qualitative research methods, namely phenomenography, semi-structured interview and content analysis. The...

  • item.jpg
  • Master


  • Authors: Jin Zichu (2018)

  • China is currently building a network with more than 80 countries across Asia, Africa, Europe, and Oceania initiating "One Belt and One Road". The main focus of the Belt and Road Initiative (BRI) is in infrastructure transportation, and energy. Countries with majority of Muslim population are involved in BRI and in some ofthese countries Islamic finance is being adopted. The public-private partnership (PPP) model is an important way of infrastructure financing which has potential in reducing government financial pressure by improving operation efficiency, service quality and societal benefits. World Bank report (2018) has discussed flexibility of Islamic financing and the cracking pot...

  • item.jpg
  • Master


  • Authors: Yousafzai, Essa Omar (2018)

  • This paper aims to investigate whether Shari'ah stock index, exchange rates and macroeconomic forces in Japan have any long run relationship or not. If the relationship exists, does the Shari'ah stock index lead or lag? The paper is likely to be the first study that investigates the causal relationship of aforementioned variables and the Shari'ah Index in Japan. Current literature on the topic in different countries gives either contradictory or inclusive results. This study will try to fill two gaps, one relating to Japan, and another relating to Islamic Indices. It employed quarterly data from 2007 to 2017. Auto-Regressive Distributed lag (ARDL) time series technique is applied to c...

  • item.jpg
  • Master


  • Authors: Hussain, Siti Noorbaini (2018)

  • Amanah Ikhtiar Malaysia or history of AIM is closely linked to the establishment of Grameen Bank. It all began when Prof. Dr Muhammad Yunus, Economic lecturer at Chittagong University of Bangladesh conducted a study in 1976 with a sample of poor community that rarely engage in the banking world. From his study, these poor people are not able to improve their standard of living due to lack of capital. Therefore, Prof. Yunus suggests that capital injection is a basic human right and shall be given to the poor people in helping them to improve their social and economic welfares ...

  • item.jpg
  • Master


  • Authors: Guedira, Souhaila (2019)

  • This study is an initial attempt investigating the extent to which portfolio diversification benefits are available at different investment horizons to Tuskish conventional and Shari'ah compliant investors in Southeast Asian conventional and Islamic stock markets. We apply multivariate-generalized autoregressive conditional heteroscedastic (MGARCH-DCC) and Wavelet techniques on daily data spanning from 2007 to 2018. The findings tend to suggest that Turkish investors would likely not invest in Singapore stock markets. At the same time, investing in stock indices of Indonesia and Thailand present moderate diversification benefits overall. The results highly recommend that Turkish conve...

  • item.jpg
  • Master


  • Authors: Haffejee, Muhammad Ismail (2018)

  • The Islamic finance industry continues to be characterized by uncertainty over how it will deal with individual as well as corporate insolvency. As a result, interest in this area of law is growing. To this end, Islamic insolvency law is emerging as an independent field of study. Being a legal exploratory study using the library method, this study aims to highlight some of the humane principles that should inform a framework for the industry. The author made an attempt to trace back these humane principles to the primary and secondary sources of Islamic jurisprudence. In addition, the author has attempted to focus on the specific legal differences between Islamic and civil law in term...

  • item.jpg
  • Master


  • Authors: Roslan, Muhammad Faruq (2018)

  • The current global market is not seeing enough investment products catered to impact investing strategy, especially in the public equity context; this gap needs to be addressed as the construct of their massive size and relationships across the supply chain would implicitly cause social and environmental impacts at every level. Thus, investors seeking to impart positive changes beyond mere financial returns must also assess the positive and negative impacts oftheir public equities portfolio as the bulk of their capital's impact lies there. In assessing non-financial impacts, big data could be leveraged to materialise these impacts. The study explores the big data ecosystem and suggest...

  • item.jpg
  • Master


  • Authors: Reza, Md Ridwan (2018)

  • The study employs different types ofrelatively novel Markov regime switching GARCH (MRS-GARCH) models along with standard GARCH to identify better models to forecast the conditional volatility of Dow Jones Islamic Market World Index (DJIM). Several statistical and risk-management-based loss functions are employed to evaluate the out-of-sample volatility and Value-at-Risk (VaR) forecast from these models. Our empirical results show that although there is no single model - either of standard GARCH and MRS-GARCH type - is consistently outperforming the others if both the statistical and the risk-management loss functions are considered, overall different asymmetric Markov regime switchin...

  • item.jpg
  • Master


  • Authors: Mohd Mazlan, Muhammad Zuhry (2018)

  • Public-Private Partnership (PPP) initiative increases economic growth as well as optimise resources in public sector due to private sector plays important roles in striking a balance of the country's financial statement. It is observed that some of the PPP models for economic development in Malaysia are not Shariah-compliant. This paper discusses on the level of compliance for the PPP models against Shariah parameters and to provide altematives should there is any non-Shariah compliant. The parameters consider form and substance perspectives including identification of prohibited elements. It is observed that two (2) models; Build-Lease-Transfer and Build-Lease-Maintain-Transfer are n...

  • item.jpg
  • Master


  • Authors: Abu Bakar, Muhammad (2018)

  • Islamic banking industry in Pakistan has been growing since its inception back in 2001. The assets and deposits of Islamic banking industry 11.9% and 13.7% respectively of overall banking industry by the end of September 2017. However, still being a small portion in overall banking industry, Islamic banks make efforts to come up with innovative products which on one hand must Shariah compliant as well as competitive with conventional products. This study discusses a specific product namely "running musharakah" which is proposed by Shaykh Taqi Usmani in 1998 for the financing of working capital and operational needs based on the concept of Shirkah al-aqd. This idea is adopted by Meezan...

  • item.jpg
  • Master


  • Authors: Bai, Chen (2017)

  • With the development of Islamic banking and finance in most Muslim countries, money market became necessary for financial institution to solve the liquidity problems. However, there is much criticism of Islamic banks and financial products for their pegging to the interest rate. Islamic money market is based on the same PLS principle with other Islamic financial products, if such products are pegged to their rate of interest, then they are not PLS. More correctly, they are based on well-and sometimes not so well-hidden conventional or interest-based contracts ...

  • item.jpg
  • Master


  • Authors: Mohamad Zain, Nor Syahirah (2017)

  • There is an urgency to explore and structure innovative financial mechanisms like SRI sukuk to develop waqf properties and assets because if this is delayed, many opportunities in enhancing social welfare and economic development will be missed. SRI sukuk can be innovatively structured to support financing the development waqf assets into viable income-generating assets that can help with social programmes, and at the same time, maximise the potential of sukuk in achieving the objectives (maqasid) of Islamic finance. The study aims to explore SRI sukuk models that could be implemented to develop waqf properties and assets under the SRI sukuk framework in Malaysia ...

  • item.jpg
  • Master


  • Authors: Aden Abdi, Aisha (2017)

  • The internal control system is designed as comprising technical practices to prevent or detect accounting errors or loss of assets. However, the scandals and collapse of the financial institutions in recent years has asserted the importance of the internal control system. This study aims to develop an internal control framework that can be applied to the Islamic financial transactions. COSO framework is a regular internal control designed for the financial organisations commonly to realise their objectives about the effectiveness and efficiency, reliable financial reporting and compliance with the laws and regulation ...

  • item.jpg
  • Master


  • Authors: Mohd Hodori, Muhammad 'Arif (2017)

  • Herding behaviour refers to an alignment of thoughts or behaviours of individuals in a group. In the case of capital market, it has been studied by several researchers such as Chang et al. (2000) and (Gavriilidis et al., 2015). Being a multicultural and multiracial country, and one of the main markets for the Islamic capital market, Malaysia provides a conducive landscape for the study of herding behaviour. The main motive for conducting this study is to investigate the presence of herding behaviour in Malaysia's religious holiday period, it's characteristic in reference to all securities and shariah-compliant securities ...

  • item.jpg
  • Master


  • Authors: Hassan, Mohamed (2017)

  • The flows of foreign investment are the fundamental elements in the economic growth of countries within the globalization process of economy. Canada has a highly-developed economy, advanced technological infrastructure that will allow them to attract flows of FDI. This study makes an attempt to test the possible directions of causality between exchange rate and flows of foreign direct investment in Canada for the period of 1970 to 2015. The methods applied are the error corrections and variance decompositions techniques including LRSM. To the best of my knowledge, there has not been any study on this issue using this technique. Our findings on this study suggests that the direction of...

  • item.jpg
  • Master


  • Authors: Abdul Rahman, Salman (2017)

  • Cash waqf plays an important role if channelled to address economic challenges upon specific segment in the society for their sustainable economic empowerment prepare them upon economic challenges ahead. Through the application of cash waqf, we are able to promote the benefits of Islamic waqf to the society. In this paper, we analyse economic challenges among youth in a developing economic environment in the case of Malaysia. We also try to investigate the practicality of cash waqf utilization as major solutions to the problems. Based on qualitative approach covering library and online academic study, we try to analyse how Islamic cash waqf development can empower the youth ...

  • item.jpg
  • Master


  • Authors: Khairetdinova, Kamila (2017)

  • The Russian Federation is emerging and yet, according to some experts, potentially successful marketplace for Islamic financial system development and it is in the stage of choosing the path it should take to achieve this goal. It is essential to determine the best possible option that could be suitable for it to adopt as the reputational risk is very high (and moreover, unfortunately it has already faced the compelled termination of several Islamic finance projects in its history). Should the Russian Federation learn from the experience of other Muslim-minority countries (there is also a misconception revealed in this paper that it is not correct to put Muslim-majority ...

  • item.jpg
  • Master


  • Authors: Azzi, Abdelkebir (2017)

  • Oil prices in the global market is usually found to be correlated with the economic growth of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between oil prices and macroeconomic variables in the Moroccan economy. Using the Moroccan monthly data from 2007-2016 and the time series techniques such as co-integration, long run structural modelling, vector error correction, and variance decomposition, we found a significant statistical relationship existing between inflation, oil price, trade balance, interest rate, and economic growth, whereby oil price and interest rate are significant macroeconomic ... Available in physical c...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 64