Academic Proceeding : [51]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 51
  • pioneering_islamic_tourism_in_maldives_aishath.pdf.jpg
  • Academic Proceeding


  • Authors: Muneeza, Aishath (2018)

  • Maldives is a tourism driven economy, which contributes more than one fourth of the country's Gross Domestic Product (GDP). While tourism sector supplies over 70% of the foreign exchange earnings to the country, one third of the government revenue is generated from this sector. Tourism is also known as the leading employment generator in the country. The objective of this paper is to formulate ways in which Maldives could pioneer Islamic tourism and to create the Islamic tourism strategies which the country will adopt. This is a qualitative research where primary data analyzed are tourism related laws and guidelines issued in Maldives and in different parts of the world and the second...

  • Unlocking waqf properties through traditional and new modes of finance_magda_hamzah.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2015)

  • The institution of waqf played a major role in early Islamic civilization as it involved every aspects of socio-economic life in the Muslim world for 1300 years. Nonetheless, the last century witnessed its destruction where its role becomes idle, undeveloped and unproductive in almost all Muslim countries, yet its recent revival shows optimism in the approach in galvanizing its socio-economic role. Through adopting traditional and new financial modes of finance, the old and idle waqf properties have been successfully redeveloped into modern buildings, an innovation which not only multiply the rewards for the founders but it multiplies the number of beneficiaries who benefited from suc...

  • inclusion of islamic social financial institutions_magda et al.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah; Alhabshi, Syed Othman; Seyed Sadr, Seyed Kazem (2017)

  • The hard core poor are neither bankable nor covered against risks. Whilst micro-finance seems to solve financial inclusion for this group to some extent, albeit at very high costs, very little have been done to provide sufficient cover against risks of all sorts for this group. Some attempts at developing micro-takaful are actually in the pipeline, however, very little concrete and practical solutions have emerged so far. It is of course well-known that Islamic Social Financial Institutions (ISFI), namely zakah, waqf, infaq and qard-hassan are meant to directly benefit the less fortunate in society, but little has been done to ensure that they directly benefit from these institutions....

  • Role_of_Islamic_microfinance_institution_in_poverty_alleviation_Quraisy_Shaikh_Syed Othman.pdf.jpg
  • Academic Proceeding


  • Authors: Quraisy, Muhammad; Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • All human beings in this world deserve a better physical and social well-being particularly the quality of life. By having proper quality of life, the advancement of individual's physical and mental aspect can be assured. As such, the chronic social disease called poverty must be expelled. In Indonesia, Islamic Financial Cooperative which is known as Baitul Maal wat Tamwil (BMT) has been influential in alleviating poverty by providing financing access and social development programs to the poor, low income and the un-bankable. This paper purports to show that Islamic Microfinance Institution (IsMFI) particularly BMT has contributed towards poverty alleviation as well as enhancement of...

  • Administration_of_zakat_on_wealth_in_Maldives_Aishath_Muneeza.pdf.jpg
  • Academic Proceeding


  • Authors: Muneeza, Aishath (2017)

  • For Muslims zakat is obligatory and different jurisdictions in the world have different mechanisms to administer it. Maldives is a hundred percent Muslim country and zakat administration in the country is unique. As such the objective of the paper is to discuss the zakat administration in Maldives with special reference to zakat al mal and to discuss the challenges facing the existing way of zakat administration. The paper also includes ways to overcome the challenges. No literature on this area in Maldives could be found and as such reference to primary materials such as unpublished statistics, reports, brochures have been made. It is hoped that this paper will encourage further res...

  • Determinants_of_spread_and_measuring_financial_performance_of_government_staff_personal_loans_Baharom.pdf.jpg
  • Academic Proceeding


  • Authors: Bakri, Mohammed Hariri, Ismail, Shafinar, Abdul Hamid, Baharom & Radam, Alias (2017)

  • Malaysian firms have been reported to involve in Asset-Backed Securities since 1986s where Cagamas is a pioneer. This research aims to examine the factor of influencing the primary market spread and measure financial performance of RCE Marketing as case study. Ordinary Least Square (OLS) regression analysis are applied for the study period 2007-2012. The result shows two determinants influence or contribute to the primary market spread and are statistically significant for the case study for RCE Marketing. The financial performance shows that this company is resilient during global financial crisis. RCE Marketing also shows better profitability capacity and dividend payments to their ...

  • item.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Mirakhor, Abbas; Alhabshi, Syed Othman (2013)

  • Monetary policy is an important available tool for governments to pursuit macroeconomic objectives. However, the recent financial crisis has revealed the weaknesses of the conventional monetary policy framework. Monetary policy has been found to be a prominent cause of financial instability. Inability of expansionary monetary policy to induce new lending in many economies is considered as evidence of the impairment of conventional monetary policy transmission mechanism. Additionally, the post-crisis diagnostics have revealed that monetary policy failed to address asset market imbalances. A large number of these studies have focused on the reforms of the conventional system. Some sugge...

  • item.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Othman, Azura; Alhabshi, Syed Othman; Mirakhor, Abbas (2015)

  • Malaysia's overarching economic objective is to achieve developed country status by the year 2020. On the back of sluggish global economic condition and tight fiscal space, the economy will need to grow by a stable and rapid rate over the next few years. Currently, macroeconomic policies in Malaysia follow the conventional model based on the risk-transfer paradigm. Over the next decade, the potential for risk sharing as an alternative to risk transfer is expected to grow rapidly. As pointed out by a number of scholars and researchers, economies can be made more resilient to shocks by adopting financing methods that limit risk transfer (interest rate based debt contracts) and allow gre...

  • Risk_management_derivatives_and_shariah_compliance_bacha.pdf.jpg
  • Academic Proceeding


  • Authors: Bacha, Obiyathulla Ismath (2013)

  • Despite the impressive growth of Islamic Banking and Finance (IBF), a number of weaknesses remain. The most important of this is perhaps the lack of shariah compliant risk management tools. While the risk sharing philosophy of Islamic Finance requires the acceptance of risk to justify returns, the shariah also requires adherents to avoid unnecessary risk-maysir. The requirement to avoid maysir is in essence a call for the prudent management of risk. Contemporary risk management revolves around financial engineering, the building blocks of which are financial derivatives. Despite the proven efficacy of derivatives in the management of risk in the conventional space, shariah scholars ap...

  • Organizational_form_efficiency_The_coexistence_obiyathulla.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail, Norashikin; Alhabshi, Syed Othman; Bacha, Obiyathulla Ismath (2011)

  • After 25 years in operation, it is time that takaful industry is evaluated in terms of its performance. One of the issues that has impact on efficiency is organization form. There have been two conflicting opinions on this issue. Eling & Luhnen (2010) opined that mutual form is efficient than stock form but Brockett (2005) concluded the opposite. This paper provides an empirical study on the relationship between efficiency and organizational structure for takaful operators in Malaysian dual financial system. A sample of 19 firms is chosen over the period 2004-2009. The selection of inputs and outputs are based on flow approach con...

  • A_closer_look_at_accounting_for_Islamic_financial_institutions_Zulkarnain.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail, Nurazleen; Muhamad Sori, Zulkarnain (2017)

  • This paper provides a discussion of a study that examines accounting in Islamic perspectives. The discussion includes an overview of the development of Islamic finance, accounting in Islamic perspectives, and four key accounting assumptions, namely "substance over form", "time value of money", "fair value" measurement and "recognition based on probability", which serve as important guides to preparers of financial information.

  • item.jpg
  • Academic Proceeding


  • Authors: Habibullah, Muzafar Shah; Mohd Tahir, Hirnissa; Abdul Hamid, Baharom (2011)

  • This paper investigates the long run Granger causality between defense spending and economic growth for 20 selected Organization of Islamic Countries (OIC) by employing the Error-Correction Model (ECM) framework using annual data for the period 1960 to 2005. defense spending (milex) is measured using the ratio of defense spending to gross domestic product (GDP); while economic growth (rgdpc) is proxy by the real GDP per capita. The results of our study indicated that one way long run Granger causality was found running from economic growth to defense spending for Burkina Faso, Indonesia, Kuwait, Saudi Arabia, Sudan, Togo and Turkey. On the other hand, one way long run Granger causalit...

  • item.jpg
  • Academic Proceeding


  • Authors: Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2015)

  • The paper "Is our macroeconomic policy right? A simple test" presented at International Conference on Contemporary Issues in Accounting and Finance 2015 (CoCiAF 2015), Sarawak, Malaysia.

  • An exploratory study of the impact of income, health expenditure and pollution on happiness_baharom.pdf.jpg
  • Academic Proceeding


  • Authors: V. Rasiah, R. Ratneswary; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2012)

  • There has been a tremendous growth in the number of empirical research on happiness by economists in the past decade. The present study is in the right direction as it explores a relatively intriguing area of research on the 'economics of happiness'. The purpose of this study is to find the existence of linkages between happiness and several economic variables. A cross-sectional econometric analysis is employed to examine the impact of the economic variables of income (Gross Domestic Product per capita), health care expenditure and pollution (proxies by CO2 emissions) on happiness across 42 countries in 2006. The findings indicate that a significantly positive relationship exists betw...

  • A_comparison_of_transactions_in_conventional_and_Islamic_economies_Mabid.pdf.jpg
  • Academic Proceeding


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2000)

  • This paper compares the transactions costs in two economies, one conventional, the other Islamic. The conventional economy is characterized by borrowing to finance some current purchases, while the Islamic economy disallows interest-based lending and operates on the basis of universal banking that mixes commerce and commercial and investment banking. To finance current purchases, it provides customers with credit purchase agreements, which entail that the bank buy the commodities and assets from suppliers and resell them on credit to customers satisfying conditions of creditworthiness similar to those that conventional banks require for borrowers. The paper uses simple calculations to...

  • item.jpg
  • Academic Proceeding


  • Authors: V. Rasiah, R. Ratneswary; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2015)

  • This study examines the long-run relationships and short-run dynamic interactions between stock returns and its determinants comprising of GDP per capita, inflation and happiness, over the period 1973 to 2012. The study applies the dynamic heterogenous panel estimation techniques of Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) to analyse a set of macro panel data on selected OECD countries to establish the possible causal relations between these variables. The results of this study show evidence that income has a favourable impact on the stock market, while inflation dampens stock returns. Interestingly, the study also revealed that happiness is not sig...

  • item.jpg
  • Academic Proceeding


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2001)

  • The paper "Enhancing corporate governance in Islamic financial institutions" presented at Islamic Research and Training Institute-AAOFI Conference on Transparency, Governance and Risk Management in Islamic Financial Institution, Beirut, Lebanon.

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 51

Academic Proceeding : [51]

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 51
  • pioneering_islamic_tourism_in_maldives_aishath.pdf.jpg
  • Academic Proceeding


  • Authors: Muneeza, Aishath (2018)

  • Maldives is a tourism driven economy, which contributes more than one fourth of the country's Gross Domestic Product (GDP). While tourism sector supplies over 70% of the foreign exchange earnings to the country, one third of the government revenue is generated from this sector. Tourism is also known as the leading employment generator in the country. The objective of this paper is to formulate ways in which Maldives could pioneer Islamic tourism and to create the Islamic tourism strategies which the country will adopt. This is a qualitative research where primary data analyzed are tourism related laws and guidelines issued in Maldives and in different parts of the world and the second...

  • Unlocking waqf properties through traditional and new modes of finance_magda_hamzah.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2015)

  • The institution of waqf played a major role in early Islamic civilization as it involved every aspects of socio-economic life in the Muslim world for 1300 years. Nonetheless, the last century witnessed its destruction where its role becomes idle, undeveloped and unproductive in almost all Muslim countries, yet its recent revival shows optimism in the approach in galvanizing its socio-economic role. Through adopting traditional and new financial modes of finance, the old and idle waqf properties have been successfully redeveloped into modern buildings, an innovation which not only multiply the rewards for the founders but it multiplies the number of beneficiaries who benefited from suc...

  • inclusion of islamic social financial institutions_magda et al.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah; Alhabshi, Syed Othman; Seyed Sadr, Seyed Kazem (2017)

  • The hard core poor are neither bankable nor covered against risks. Whilst micro-finance seems to solve financial inclusion for this group to some extent, albeit at very high costs, very little have been done to provide sufficient cover against risks of all sorts for this group. Some attempts at developing micro-takaful are actually in the pipeline, however, very little concrete and practical solutions have emerged so far. It is of course well-known that Islamic Social Financial Institutions (ISFI), namely zakah, waqf, infaq and qard-hassan are meant to directly benefit the less fortunate in society, but little has been done to ensure that they directly benefit from these institutions....

  • Role_of_Islamic_microfinance_institution_in_poverty_alleviation_Quraisy_Shaikh_Syed Othman.pdf.jpg
  • Academic Proceeding


  • Authors: Quraisy, Muhammad; Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • All human beings in this world deserve a better physical and social well-being particularly the quality of life. By having proper quality of life, the advancement of individual's physical and mental aspect can be assured. As such, the chronic social disease called poverty must be expelled. In Indonesia, Islamic Financial Cooperative which is known as Baitul Maal wat Tamwil (BMT) has been influential in alleviating poverty by providing financing access and social development programs to the poor, low income and the un-bankable. This paper purports to show that Islamic Microfinance Institution (IsMFI) particularly BMT has contributed towards poverty alleviation as well as enhancement of...

  • Administration_of_zakat_on_wealth_in_Maldives_Aishath_Muneeza.pdf.jpg
  • Academic Proceeding


  • Authors: Muneeza, Aishath (2017)

  • For Muslims zakat is obligatory and different jurisdictions in the world have different mechanisms to administer it. Maldives is a hundred percent Muslim country and zakat administration in the country is unique. As such the objective of the paper is to discuss the zakat administration in Maldives with special reference to zakat al mal and to discuss the challenges facing the existing way of zakat administration. The paper also includes ways to overcome the challenges. No literature on this area in Maldives could be found and as such reference to primary materials such as unpublished statistics, reports, brochures have been made. It is hoped that this paper will encourage further res...

  • Determinants_of_spread_and_measuring_financial_performance_of_government_staff_personal_loans_Baharom.pdf.jpg
  • Academic Proceeding


  • Authors: Bakri, Mohammed Hariri, Ismail, Shafinar, Abdul Hamid, Baharom & Radam, Alias (2017)

  • Malaysian firms have been reported to involve in Asset-Backed Securities since 1986s where Cagamas is a pioneer. This research aims to examine the factor of influencing the primary market spread and measure financial performance of RCE Marketing as case study. Ordinary Least Square (OLS) regression analysis are applied for the study period 2007-2012. The result shows two determinants influence or contribute to the primary market spread and are statistically significant for the case study for RCE Marketing. The financial performance shows that this company is resilient during global financial crisis. RCE Marketing also shows better profitability capacity and dividend payments to their ...

  • item.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Mirakhor, Abbas; Alhabshi, Syed Othman (2013)

  • Monetary policy is an important available tool for governments to pursuit macroeconomic objectives. However, the recent financial crisis has revealed the weaknesses of the conventional monetary policy framework. Monetary policy has been found to be a prominent cause of financial instability. Inability of expansionary monetary policy to induce new lending in many economies is considered as evidence of the impairment of conventional monetary policy transmission mechanism. Additionally, the post-crisis diagnostics have revealed that monetary policy failed to address asset market imbalances. A large number of these studies have focused on the reforms of the conventional system. Some sugge...

  • item.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Othman, Azura; Alhabshi, Syed Othman; Mirakhor, Abbas (2015)

  • Malaysia's overarching economic objective is to achieve developed country status by the year 2020. On the back of sluggish global economic condition and tight fiscal space, the economy will need to grow by a stable and rapid rate over the next few years. Currently, macroeconomic policies in Malaysia follow the conventional model based on the risk-transfer paradigm. Over the next decade, the potential for risk sharing as an alternative to risk transfer is expected to grow rapidly. As pointed out by a number of scholars and researchers, economies can be made more resilient to shocks by adopting financing methods that limit risk transfer (interest rate based debt contracts) and allow gre...

  • Risk_management_derivatives_and_shariah_compliance_bacha.pdf.jpg
  • Academic Proceeding


  • Authors: Bacha, Obiyathulla Ismath (2013)

  • Despite the impressive growth of Islamic Banking and Finance (IBF), a number of weaknesses remain. The most important of this is perhaps the lack of shariah compliant risk management tools. While the risk sharing philosophy of Islamic Finance requires the acceptance of risk to justify returns, the shariah also requires adherents to avoid unnecessary risk-maysir. The requirement to avoid maysir is in essence a call for the prudent management of risk. Contemporary risk management revolves around financial engineering, the building blocks of which are financial derivatives. Despite the proven efficacy of derivatives in the management of risk in the conventional space, shariah scholars ap...

  • Organizational_form_efficiency_The_coexistence_obiyathulla.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail, Norashikin; Alhabshi, Syed Othman; Bacha, Obiyathulla Ismath (2011)

  • After 25 years in operation, it is time that takaful industry is evaluated in terms of its performance. One of the issues that has impact on efficiency is organization form. There have been two conflicting opinions on this issue. Eling & Luhnen (2010) opined that mutual form is efficient than stock form but Brockett (2005) concluded the opposite. This paper provides an empirical study on the relationship between efficiency and organizational structure for takaful operators in Malaysian dual financial system. A sample of 19 firms is chosen over the period 2004-2009. The selection of inputs and outputs are based on flow approach con...

  • A_closer_look_at_accounting_for_Islamic_financial_institutions_Zulkarnain.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail, Nurazleen; Muhamad Sori, Zulkarnain (2017)

  • This paper provides a discussion of a study that examines accounting in Islamic perspectives. The discussion includes an overview of the development of Islamic finance, accounting in Islamic perspectives, and four key accounting assumptions, namely "substance over form", "time value of money", "fair value" measurement and "recognition based on probability", which serve as important guides to preparers of financial information.

  • item.jpg
  • Academic Proceeding


  • Authors: Habibullah, Muzafar Shah; Mohd Tahir, Hirnissa; Abdul Hamid, Baharom (2011)

  • This paper investigates the long run Granger causality between defense spending and economic growth for 20 selected Organization of Islamic Countries (OIC) by employing the Error-Correction Model (ECM) framework using annual data for the period 1960 to 2005. defense spending (milex) is measured using the ratio of defense spending to gross domestic product (GDP); while economic growth (rgdpc) is proxy by the real GDP per capita. The results of our study indicated that one way long run Granger causality was found running from economic growth to defense spending for Burkina Faso, Indonesia, Kuwait, Saudi Arabia, Sudan, Togo and Turkey. On the other hand, one way long run Granger causalit...

  • item.jpg
  • Academic Proceeding


  • Authors: Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2015)

  • The paper "Is our macroeconomic policy right? A simple test" presented at International Conference on Contemporary Issues in Accounting and Finance 2015 (CoCiAF 2015), Sarawak, Malaysia.

  • An exploratory study of the impact of income, health expenditure and pollution on happiness_baharom.pdf.jpg
  • Academic Proceeding


  • Authors: V. Rasiah, R. Ratneswary; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2012)

  • There has been a tremendous growth in the number of empirical research on happiness by economists in the past decade. The present study is in the right direction as it explores a relatively intriguing area of research on the 'economics of happiness'. The purpose of this study is to find the existence of linkages between happiness and several economic variables. A cross-sectional econometric analysis is employed to examine the impact of the economic variables of income (Gross Domestic Product per capita), health care expenditure and pollution (proxies by CO2 emissions) on happiness across 42 countries in 2006. The findings indicate that a significantly positive relationship exists betw...

  • A_comparison_of_transactions_in_conventional_and_Islamic_economies_Mabid.pdf.jpg
  • Academic Proceeding


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2000)

  • This paper compares the transactions costs in two economies, one conventional, the other Islamic. The conventional economy is characterized by borrowing to finance some current purchases, while the Islamic economy disallows interest-based lending and operates on the basis of universal banking that mixes commerce and commercial and investment banking. To finance current purchases, it provides customers with credit purchase agreements, which entail that the bank buy the commodities and assets from suppliers and resell them on credit to customers satisfying conditions of creditworthiness similar to those that conventional banks require for borrowers. The paper uses simple calculations to...

  • item.jpg
  • Academic Proceeding


  • Authors: V. Rasiah, R. Ratneswary; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2015)

  • This study examines the long-run relationships and short-run dynamic interactions between stock returns and its determinants comprising of GDP per capita, inflation and happiness, over the period 1973 to 2012. The study applies the dynamic heterogenous panel estimation techniques of Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) to analyse a set of macro panel data on selected OECD countries to establish the possible causal relations between these variables. The results of this study show evidence that income has a favourable impact on the stock market, while inflation dampens stock returns. Interestingly, the study also revealed that happiness is not sig...

  • item.jpg
  • Academic Proceeding


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2001)

  • The paper "Enhancing corporate governance in Islamic financial institutions" presented at Islamic Research and Training Institute-AAOFI Conference on Transparency, Governance and Risk Management in Islamic Financial Institution, Beirut, Lebanon.

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 51