Chapter in Book : [155]

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 155
  • a_case_study_default_Islamic_financing_facilities_Malaysian_perspective_aishath.pdf.jpg
  • Chapter in Book


  • Authors: Muneeza, Aishath (2019)

  • Default can occur in Islamic banking. As the law applicable to Islamic banking is derived from Shariah, it is imperative to check whether the current practice of Islamic banks in default aligns with Shariah. The objective of this chapter is to discuss the rules and procedures Islamic banks in Malaysia follow in case of default. This is a qualitative research where data from primary sources such as laws on the matter are extracted to derive conclusions and secondary sources such as case laws and other published materials in the subject matter are explored. It is anticipated that the outcome of this chapter will assist to comprehend the way in which Islamic banks deal in case of default...

  • accounting_for_the_property acquisition_zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain (2018)

  • This case was developed based on a real-life experience related to an lslamic equity home financing contract (ie. Musharakah Mutanaqisah) between a Malaysian Islamic Bank and their customer. The Musharakah Mutanaqisah (MM) Financing mode has gained popularity in house financing in Malaysia, where the bank and customer enter into a contract of joint property ownership and the customer's ownership of the asset gradually increases throughout the financing period and fully owns the asset after the last financial settlement. This case aims to: illustrate the process of property acquisition using the MM financing mode; account the various transactions involved in MM financing; account capit...

  • chapter 13_managing the Malaysian economy after GE 2008_Ariff.jpg.jpg
  • Chapter in Book


  • Authors: Lopez, Greg; Abdul Kareem, Mohamed Ariff (2018)

  • On 8 March 2008 (GE 2008) Malaysians unexpectedly delivered a stunning blow to Malaysia's long-standing ruling coalition, Barisan Nasional (BN), at the twelfth general election. Although it won the election, BN lost its psychologically important two-thirds majority in parliament which allows it to change the Federal Constitution at will. The blow was all the more devastating as the Anwar Ibrahim-led informal coalition of Parti Keadilan Rakyat (PKR/People's Iustice Party), Democratic Action Party (DAP) and Parti Se-Islam Malaysia (PAS/Pan Islamic Party of Malaysia) managed to form state governments in almost all states in the developed western parts of Peninsular Malaysia with citizens...

  • accounting_for_leasing_zulkarnain_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2018)

  • This case was developed based on a real-life experience dealing with an Islamic car financing contract (i.e. Al-ljarah Thumma Al-Bay |AITAB] contract - Sale and Leaseback) between a Malaysian Islamic Financial Institution and their customer. It is well recognised that AITAB is governed by the Malaysian Hire Purchase Act 1967, that oversees conventional (nor Islamic) car financing, yet it is used for both financing modes. The contract requires clarification on the following: understanding of the nature of the contract used and the relevant transactions involved; revenue recognition (current and future); capitalisation of relevant costs in the asset's value; fair value of leased asset; ...

  • accounting_for_Islamic_financial_transactions_zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain (2018)

  • This hypothetical case study was developed based on the financial statements of Bahrain Islamic Bank and Bank Islam Malaysia Berhad. The banks were registered in two different countries namely Bahrain and Malaysia that adopted Financial Accounting Standards (FAS) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and International Financial Reporting Standards (IFRS) (the standards are locally adopted and named as Malaysian Financial Reporting Standards (MFRS)) issued by International Accounting Standards Board (IASB) respectively. The key issues explored in this case are: the motivation for recording and reporting Islamic financial transact...

  • Faraid_as_Islamic_inheritance_on_investment_adelina_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Zuleikha, Adelina; Ramadili Mohd, Shamsher Mohamad (2017)

  • Faraid is the legal science that determines the way the estate of an adherent to Islam is to be dealt with and distributed upon his/her death. It is a fundamental part of Shariah law that deals with wealth re-distribution in a society, and it is obligatory to make a will as per this provision or to be decided by a court if the person dies without a will. This revelations-based system ensures that wealth is not hoarded in the hands of a few but distributed equitably among the members of one's family and beyond also to society with a larger view to mitigate the income inequality gap. In Islamic inheritance law, there are eight classes of heirs in accordance to their priority to inherita...

  • Application_of_conventional_benchmark_in_Islamic_wealth_management_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Gadhoum, Mohamed Anouar; Ramadili Mohd, Shamsher Mohamad (2017)

  • LIBOR (London Interbank Overnight Rate) is a rather recent concept, even if English banks had been in banking business for many decades before the invention of LIBOR as the world's favorite benchmark for cost of money. LIBOR emerged in the 1980s to serve as a benchmark to account for interest rate risk when a surge in the use of futures contracts began to trouble lending decisions. Futures have been offered since 1972, and by the 1980s had become a major risk-hedging instrument in the developed countries. Due to the absence of a reliable benchmark back then, a solution was sought from the Bank of England. The banking industry trade group, the British Bankers' Association, launched LIB...

  • Zakat_in_Islamic_wealth_management_ziyaad.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad (2017)

  • The common understanding of investments is to manage wealth such that there is wealth increase with rare losses of the starting value to compensate wealth holders (i) against inflation via risk-free return and (ii) plus a risk premium for the risk of the investment. It thus has the twin objectives of growth in wealth and preservation of wealth. This is achieved by means of a planned strategy that defines the goals of the investor. Wealth management includes the following: to achieve maximum growth with minimal risk (or maximum growth for a target level of risk); to manage risk as far as is possible to minimise taxation and other costs to receive a consistent income; to have a consiste...

  • Property_rights_and_shariah_non-compliance_risk_saiful.jpg.jpg
  • Chapter in Book


  • Authors: Rosly, Saiful Azhar (2017)

  • This chapter attempts to argue that an organized effort to avoid such risks due to the financial infrastructure rigidities may invite non-compliance with shariah rules. This is due to the fact that the shariah requires Islamic financial institutions to take ownership of the goods it intends to sell as a fundamental principle in contract law and to move the title to the buying party once the sale is executed. Hence this chapter critically examines the concept of al-bay and property rights in Islam in relation to the constraints posed by the existing financial infrastructure, namely capital requirement and taxation, on the taking of risks by Islamic banks.

  • Issues_in_waqf_and_zakat_management_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • An overview of the challenges ahead for the continued growth of the industry is to be found in this chapter. These issues are faced by every new marketplace, where new securities are issued. How these issues are faced with creative resolutions will provide the pathway for this market to prosper in the future.

  • Governance_framework_in_Islamic_financial_institutions_zulkarnain_shamsher_eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • This chapter provides a discussion on a study that examines shariah governance practices in the Malaysian IFIs. It provides important insights into current and critical shariah governance issues that are faced by the Islamic finance industry worldwide. The chapter is divided into four sections. This first section provides some background on the Islamic finance industry. The second section reviews prior studies on shariah governance from different geographical areas: some details are given on methodology. Section three outlines research findings on various issues examined by the study such as the definition of shariah governance, the importance of the shariah governance framework and i...

  • Shariah_boards_practical_challenges_for_Islamic_financial_institution_shamsher_zulkarnain_eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Muhamad Sori, Zulkarnain; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • This chapter aims to logically show that the contemporary structure of shariah supervisory boards in banks have to move towards a more aggressive compliance mode to ensure Islamic banks meet the regulatory requirements fully for all processes involved in providing shariah compliant products and services, since the industry has been in operation for more than five decades. The rapid growth of Islamic finance in recent years; something similar to other new financial products in historical times; has attracted many financial institutions, who are taking a keen interest in this growth sector.

  • Wealth_effect_of_sukuk_issuance_announcement_in_two_markets_ziyaad_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This chapter is written with a view to explain how stock prices react to the issuance of a new kind of debt instrument (the sukuk debt certificates) in two stock markets in the period 2001-15. The existing classical corporate finance theory considers share prices' response to capital issuances to be crucial to any understanding on how to maximize the firm value and thus the shareholder wealth. How this is achieved has been debated extensively and deliberated elaborately by academics over six decades. It stands to reason, though, that maximizing firm value requires effective investment decisions which in turn necessitates access to a valuable source of capital.

  • Wealth_as_understood_in_economics_and_finance_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • Contemporary economic thoughts equate capital, as mentioned in the above quote, to be wealth, which, as stated in the quote, is the accumulation of things of value from the continuous efforts of humans. Wealth is owned in different proportions by individuals, entities and the state. Wealth can be defined broadly as an item that has some economic substance, a value such that the wealth can be used for several intended purposes, in modern economics, for consumption as theoretically glorified by the Utility Maximization Theorem (Arrow-Debreu). As the great philosopher - economist Adam Smith said, wealth is from the efforts of humans to better the human condition, which then eventually le...

  • potential_for_wealth_creation_from_waqf_assets_magda_shaikh_hamzah.JPG.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • Charitable bequest as an endowment (waqf) is one of the wealth redistribution measures encouraged in Islam to bridge the gap between the haves and the have-nots. Such investments create flows of income/services of a charitable nature, in most cases, after the death of the endowers. Even though it is voluntary in nature, it is means to provide a continuous service to the needy in society and ensures a just and equitable distribution of wealth, and a means to seek God's blessings here and in the here-after. The title is on order.

  • chapter_4_islamic_banking_business_of_conventional_banks_Shamsher_Ziyaad_Nazrol.jpg.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad; Mustaffa Kamil, Nazrol Kamil (2017)

  • Globally, Islamic banking grew by a compound annual growth rate of 17.3 percent between 2009 and 2014. The estimated size of the industry at the end of 2014 was given at US$2.1 trillion. This total follar value of assets held by the Islamic financial institutions is less than 2 percent of the conventional banking industry; nonetheless, this is a huge achievement, considering it started from a zero base in the 1970s (Ernst & Young, 2013). Through the rate of growth has declined in recent years, the industry has nevertheless managed to grow by more than 15 percent even during the 2009 global crisis, whereas the overall banking assets remained static and economic growth in almost all cou...

  • migitating_shadow_economy_2795.jpg.jpg
  • Chapter in Book


  • Authors: Habibullah, Muzafar Shah; Abdul Hamid, Baharom; Din, Badariah H.; Furuoka, Fumitaka (2017)

  • Theory argues that as long as the shadow economy is of sufficient size, the leakage or loss of tax revenue through tax evasion will also be substantial. In this chapter, we provide new estimates of the size of the shadow economy in Malaysia for the period 1971-2013. Further, we relate the shadow economy to its determinants as measured by the misery index. This chapter reveals that the relationship between the shadow economy and financial development in Malaysia exhibits an inverted U-shaped curve. The chapter concludes that the Malaysian government should embark on programs that can reduce the size of the shadow economy, relying on its dual banking system of Islamic and conventional b...

  • do_provision_of_nonaudit_2788.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Karbhari, Yusuf; Turmin, Siti Zaidah; Osman, Mohammad Noor Hisham (2015)

  • This chapter examines the effects of provision of different types of non-audit services on perceived auditor independence from the perspective of Malaysian capital market participants. The globalisation of the accounting profession and the subsequent increase in competitiveness and the need to survive has forced many auditing firms to diversify into non-audit services and has created 'the multidisciplinary nature of large audit firms'(Michael, 2014; Alexander and Hay, 2013; Brierley and Gwilliam, 2003; Michael, 2014).

  • chapter_6_examination_of_the_shariah_committee_role_in_Islamic_financial_institutions_Zulkarnain_Shamsher_Eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2015)

  • The system of corporate control, effective and efficient governance that is consistent with Shariah guidance has been an important agenda for Islamic Financial Institutions since the existence of Islamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. For example, the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (CAGR) of 17.4% between 2009 and 2014 (Ernst & Young, 2014). The well-functioning Islamic Finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with Shariah guidance....

  • chapter_7_financial_and_operating_performance_of_privatised_companies_Abdeldayam_Yusuf_Zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Abdeldayam, M.M.; Karbhari, Yusuf; Muhamad Sori, Zulkarnain (2015)

  • The term privatisation has many shades of meaning. The overall purpose of privatisation is that of transferring the provision of goods and services from the public sector to the private sector and Kay and Thompson (1986) suggest that the term covers denationalisation (the sale of state owned enterprises), deregulation (the introduction of competition) and contracting out (the provision by private sector organisations of public services). Over the past 25 years or so, all of these various forms of privatisation have developed and evolved and are now a pervasive feature of the economies of many countries. Available in physical copy only (Call Number: HF 5630 S464)

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 155

Chapter in Book : [155]

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 155
  • a_case_study_default_Islamic_financing_facilities_Malaysian_perspective_aishath.pdf.jpg
  • Chapter in Book


  • Authors: Muneeza, Aishath (2019)

  • Default can occur in Islamic banking. As the law applicable to Islamic banking is derived from Shariah, it is imperative to check whether the current practice of Islamic banks in default aligns with Shariah. The objective of this chapter is to discuss the rules and procedures Islamic banks in Malaysia follow in case of default. This is a qualitative research where data from primary sources such as laws on the matter are extracted to derive conclusions and secondary sources such as case laws and other published materials in the subject matter are explored. It is anticipated that the outcome of this chapter will assist to comprehend the way in which Islamic banks deal in case of default...

  • accounting_for_the_property acquisition_zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain (2018)

  • This case was developed based on a real-life experience related to an lslamic equity home financing contract (ie. Musharakah Mutanaqisah) between a Malaysian Islamic Bank and their customer. The Musharakah Mutanaqisah (MM) Financing mode has gained popularity in house financing in Malaysia, where the bank and customer enter into a contract of joint property ownership and the customer's ownership of the asset gradually increases throughout the financing period and fully owns the asset after the last financial settlement. This case aims to: illustrate the process of property acquisition using the MM financing mode; account the various transactions involved in MM financing; account capit...

  • chapter 13_managing the Malaysian economy after GE 2008_Ariff.jpg.jpg
  • Chapter in Book


  • Authors: Lopez, Greg; Abdul Kareem, Mohamed Ariff (2018)

  • On 8 March 2008 (GE 2008) Malaysians unexpectedly delivered a stunning blow to Malaysia's long-standing ruling coalition, Barisan Nasional (BN), at the twelfth general election. Although it won the election, BN lost its psychologically important two-thirds majority in parliament which allows it to change the Federal Constitution at will. The blow was all the more devastating as the Anwar Ibrahim-led informal coalition of Parti Keadilan Rakyat (PKR/People's Iustice Party), Democratic Action Party (DAP) and Parti Se-Islam Malaysia (PAS/Pan Islamic Party of Malaysia) managed to form state governments in almost all states in the developed western parts of Peninsular Malaysia with citizens...

  • accounting_for_leasing_zulkarnain_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2018)

  • This case was developed based on a real-life experience dealing with an Islamic car financing contract (i.e. Al-ljarah Thumma Al-Bay |AITAB] contract - Sale and Leaseback) between a Malaysian Islamic Financial Institution and their customer. It is well recognised that AITAB is governed by the Malaysian Hire Purchase Act 1967, that oversees conventional (nor Islamic) car financing, yet it is used for both financing modes. The contract requires clarification on the following: understanding of the nature of the contract used and the relevant transactions involved; revenue recognition (current and future); capitalisation of relevant costs in the asset's value; fair value of leased asset; ...

  • accounting_for_Islamic_financial_transactions_zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain (2018)

  • This hypothetical case study was developed based on the financial statements of Bahrain Islamic Bank and Bank Islam Malaysia Berhad. The banks were registered in two different countries namely Bahrain and Malaysia that adopted Financial Accounting Standards (FAS) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and International Financial Reporting Standards (IFRS) (the standards are locally adopted and named as Malaysian Financial Reporting Standards (MFRS)) issued by International Accounting Standards Board (IASB) respectively. The key issues explored in this case are: the motivation for recording and reporting Islamic financial transact...

  • Faraid_as_Islamic_inheritance_on_investment_adelina_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Zuleikha, Adelina; Ramadili Mohd, Shamsher Mohamad (2017)

  • Faraid is the legal science that determines the way the estate of an adherent to Islam is to be dealt with and distributed upon his/her death. It is a fundamental part of Shariah law that deals with wealth re-distribution in a society, and it is obligatory to make a will as per this provision or to be decided by a court if the person dies without a will. This revelations-based system ensures that wealth is not hoarded in the hands of a few but distributed equitably among the members of one's family and beyond also to society with a larger view to mitigate the income inequality gap. In Islamic inheritance law, there are eight classes of heirs in accordance to their priority to inherita...

  • Application_of_conventional_benchmark_in_Islamic_wealth_management_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Gadhoum, Mohamed Anouar; Ramadili Mohd, Shamsher Mohamad (2017)

  • LIBOR (London Interbank Overnight Rate) is a rather recent concept, even if English banks had been in banking business for many decades before the invention of LIBOR as the world's favorite benchmark for cost of money. LIBOR emerged in the 1980s to serve as a benchmark to account for interest rate risk when a surge in the use of futures contracts began to trouble lending decisions. Futures have been offered since 1972, and by the 1980s had become a major risk-hedging instrument in the developed countries. Due to the absence of a reliable benchmark back then, a solution was sought from the Bank of England. The banking industry trade group, the British Bankers' Association, launched LIB...

  • Zakat_in_Islamic_wealth_management_ziyaad.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad (2017)

  • The common understanding of investments is to manage wealth such that there is wealth increase with rare losses of the starting value to compensate wealth holders (i) against inflation via risk-free return and (ii) plus a risk premium for the risk of the investment. It thus has the twin objectives of growth in wealth and preservation of wealth. This is achieved by means of a planned strategy that defines the goals of the investor. Wealth management includes the following: to achieve maximum growth with minimal risk (or maximum growth for a target level of risk); to manage risk as far as is possible to minimise taxation and other costs to receive a consistent income; to have a consiste...

  • Property_rights_and_shariah_non-compliance_risk_saiful.jpg.jpg
  • Chapter in Book


  • Authors: Rosly, Saiful Azhar (2017)

  • This chapter attempts to argue that an organized effort to avoid such risks due to the financial infrastructure rigidities may invite non-compliance with shariah rules. This is due to the fact that the shariah requires Islamic financial institutions to take ownership of the goods it intends to sell as a fundamental principle in contract law and to move the title to the buying party once the sale is executed. Hence this chapter critically examines the concept of al-bay and property rights in Islam in relation to the constraints posed by the existing financial infrastructure, namely capital requirement and taxation, on the taking of risks by Islamic banks.

  • Issues_in_waqf_and_zakat_management_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • An overview of the challenges ahead for the continued growth of the industry is to be found in this chapter. These issues are faced by every new marketplace, where new securities are issued. How these issues are faced with creative resolutions will provide the pathway for this market to prosper in the future.

  • Governance_framework_in_Islamic_financial_institutions_zulkarnain_shamsher_eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • This chapter provides a discussion on a study that examines shariah governance practices in the Malaysian IFIs. It provides important insights into current and critical shariah governance issues that are faced by the Islamic finance industry worldwide. The chapter is divided into four sections. This first section provides some background on the Islamic finance industry. The second section reviews prior studies on shariah governance from different geographical areas: some details are given on methodology. Section three outlines research findings on various issues examined by the study such as the definition of shariah governance, the importance of the shariah governance framework and i...

  • Shariah_boards_practical_challenges_for_Islamic_financial_institution_shamsher_zulkarnain_eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Muhamad Sori, Zulkarnain; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • This chapter aims to logically show that the contemporary structure of shariah supervisory boards in banks have to move towards a more aggressive compliance mode to ensure Islamic banks meet the regulatory requirements fully for all processes involved in providing shariah compliant products and services, since the industry has been in operation for more than five decades. The rapid growth of Islamic finance in recent years; something similar to other new financial products in historical times; has attracted many financial institutions, who are taking a keen interest in this growth sector.

  • Wealth_effect_of_sukuk_issuance_announcement_in_two_markets_ziyaad_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This chapter is written with a view to explain how stock prices react to the issuance of a new kind of debt instrument (the sukuk debt certificates) in two stock markets in the period 2001-15. The existing classical corporate finance theory considers share prices' response to capital issuances to be crucial to any understanding on how to maximize the firm value and thus the shareholder wealth. How this is achieved has been debated extensively and deliberated elaborately by academics over six decades. It stands to reason, though, that maximizing firm value requires effective investment decisions which in turn necessitates access to a valuable source of capital.

  • Wealth_as_understood_in_economics_and_finance_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • Contemporary economic thoughts equate capital, as mentioned in the above quote, to be wealth, which, as stated in the quote, is the accumulation of things of value from the continuous efforts of humans. Wealth is owned in different proportions by individuals, entities and the state. Wealth can be defined broadly as an item that has some economic substance, a value such that the wealth can be used for several intended purposes, in modern economics, for consumption as theoretically glorified by the Utility Maximization Theorem (Arrow-Debreu). As the great philosopher - economist Adam Smith said, wealth is from the efforts of humans to better the human condition, which then eventually le...

  • potential_for_wealth_creation_from_waqf_assets_magda_shaikh_hamzah.JPG.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • Charitable bequest as an endowment (waqf) is one of the wealth redistribution measures encouraged in Islam to bridge the gap between the haves and the have-nots. Such investments create flows of income/services of a charitable nature, in most cases, after the death of the endowers. Even though it is voluntary in nature, it is means to provide a continuous service to the needy in society and ensures a just and equitable distribution of wealth, and a means to seek God's blessings here and in the here-after. The title is on order.

  • chapter_4_islamic_banking_business_of_conventional_banks_Shamsher_Ziyaad_Nazrol.jpg.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad; Mustaffa Kamil, Nazrol Kamil (2017)

  • Globally, Islamic banking grew by a compound annual growth rate of 17.3 percent between 2009 and 2014. The estimated size of the industry at the end of 2014 was given at US$2.1 trillion. This total follar value of assets held by the Islamic financial institutions is less than 2 percent of the conventional banking industry; nonetheless, this is a huge achievement, considering it started from a zero base in the 1970s (Ernst & Young, 2013). Through the rate of growth has declined in recent years, the industry has nevertheless managed to grow by more than 15 percent even during the 2009 global crisis, whereas the overall banking assets remained static and economic growth in almost all cou...

  • migitating_shadow_economy_2795.jpg.jpg
  • Chapter in Book


  • Authors: Habibullah, Muzafar Shah; Abdul Hamid, Baharom; Din, Badariah H.; Furuoka, Fumitaka (2017)

  • Theory argues that as long as the shadow economy is of sufficient size, the leakage or loss of tax revenue through tax evasion will also be substantial. In this chapter, we provide new estimates of the size of the shadow economy in Malaysia for the period 1971-2013. Further, we relate the shadow economy to its determinants as measured by the misery index. This chapter reveals that the relationship between the shadow economy and financial development in Malaysia exhibits an inverted U-shaped curve. The chapter concludes that the Malaysian government should embark on programs that can reduce the size of the shadow economy, relying on its dual banking system of Islamic and conventional b...

  • do_provision_of_nonaudit_2788.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Karbhari, Yusuf; Turmin, Siti Zaidah; Osman, Mohammad Noor Hisham (2015)

  • This chapter examines the effects of provision of different types of non-audit services on perceived auditor independence from the perspective of Malaysian capital market participants. The globalisation of the accounting profession and the subsequent increase in competitiveness and the need to survive has forced many auditing firms to diversify into non-audit services and has created 'the multidisciplinary nature of large audit firms'(Michael, 2014; Alexander and Hay, 2013; Brierley and Gwilliam, 2003; Michael, 2014).

  • chapter_6_examination_of_the_shariah_committee_role_in_Islamic_financial_institutions_Zulkarnain_Shamsher_Eskandar.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2015)

  • The system of corporate control, effective and efficient governance that is consistent with Shariah guidance has been an important agenda for Islamic Financial Institutions since the existence of Islamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. For example, the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (CAGR) of 17.4% between 2009 and 2014 (Ernst & Young, 2014). The well-functioning Islamic Finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with Shariah guidance....

  • chapter_7_financial_and_operating_performance_of_privatised_companies_Abdeldayam_Yusuf_Zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Abdeldayam, M.M.; Karbhari, Yusuf; Muhamad Sori, Zulkarnain (2015)

  • The term privatisation has many shades of meaning. The overall purpose of privatisation is that of transferring the provision of goods and services from the public sector to the private sector and Kay and Thompson (1986) suggest that the term covers denationalisation (the sale of state owned enterprises), deregulation (the introduction of competition) and contracting out (the provision by private sector organisations of public services). Over the past 25 years or so, all of these various forms of privatisation have developed and evolved and are now a pervasive feature of the economies of many countries. Available in physical copy only (Call Number: HF 5630 S464)

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 155