- Malaysia
In Malaysia, academic studies on the mobilisation of cash waqf and enhancing its role as a mechanism for socio-economic development through the adoption of fintech (financial technology) is highly abound. Additionally, there are calls... more
In Malaysia, academic studies on the mobilisation of cash waqf and enhancing its role as a mechanism for socio-economic development through the adoption of fintech (financial technology) is highly abound. Additionally, there are calls from stakeholders to adopt best practices fintech solutions in waqf practice to drive efficiency in waqf transactions management, ranging from fund mobilisation, investment and disbursement and connecting donors to fundraisers. This study aims to fill a knowledge gap by explaining the factors regarding the deployment of fintech related to the 4th Industrial Revolution to improve the collection and investment of cash waqf. This paper proposes a conceptual framework for expanding cash waqf collection and performance through fintech in response to the fourth industrial revolution wave study predicting computer technology adoption behaviour. The proposed model is based on a modified framework of Davis's technology acceptance model (TAM) method, which W...
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Islamic microfinance is considered an important element of economic prosperity and an instrument in reducing poverty rates in the Islamic world. However, the Islamic Microfinance industry faces many problems in its efforts to serve the... more
Islamic microfinance is considered an important element of economic prosperity and an instrument in reducing poverty rates in the Islamic world. However, the Islamic Microfinance industry faces many problems in its efforts to serve the community. One of these problems is the lack of financing resources. This research aims to investigate the current Islamic financing channels that are used to finance Islamic microfinance institutions and determine the appropriate mechanisms or models practiced by Islamic microfinance institutions to finance the micro-enterprises and therefore reduce the poverty rate in Muslim communities. This research applied a qualitative research approach by reviewing the current literature on the Islamic microfinance industry. This research focused on Cash Waqf as an alternative channel to finance Islamic microfinance institutions as this model has been successfully implemented and experienced by many Islamic countries in the world, to deal with various social problems and poverty alleviation. The desired development can be achieved by investing Cash Waqf funds in micro-enterprises that may help to maximize investment returns and improve low-income people’s returns, as well as enhance economic development to a directly impact poverty alleviation. It has been found that the Cash Waqf model is considered an appropriate source of funding to finance Islamic microfinance instigations that finally will utilize the Cash Waqf fund to finance micro-enterprises through several models such as Mudarabah, Murabaha, Musharakah Mutnaqisah and Qard Hassan. The four models were discussed after merging them with the concept of Cash Waqf through the previous literature, weighing the advantages and disadvantages of each one of them, and proposing some solutions that could contribute to solving the problems faced by the micro-enterprises
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This article attempts to determine the role of financial inclusion in promoting shared prosperity in some selected Sub-Saharan African (SSA) countries. This paper will also clarify the role of Islamic microfinance institutions to reduce... more
This article attempts to determine the role of financial inclusion in promoting shared prosperity in some selected Sub-Saharan African (SSA) countries. This paper will also clarify the role of Islamic microfinance institutions to reduce inequality by promoting financial inclusion. Even though various strategies have been adopted by different governments in SSA to alleviate poverty and income inequality, these problems are persisting and even increasing. This paper is a conceptual research; thus, the methodology will not be discussed. This research suggests that financial inclusion through Islamic microfinance is an effective solution to improve shared prosperity and alleviate poverty in these countries. Therefore, governments should adopt strategies to enhance and ease access to finance among poor and vulnerable population.
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This study aims to explore through a qualitative study the factors that influence the net asset value of Islamic equity unit trust funds in Malaysian unit trust industry. A phenomenology method through an in-depth interview was carried... more
This study aims to explore through a qualitative study the factors that influence the net asset value of Islamic equity unit trust funds in Malaysian unit trust industry. A phenomenology method through an in-depth interview was carried out with six informants using the convenience sampling method. After the transcription of the interview data and detailed analysis using the thematic technique, the finding indicated that there are sixteen themes that found have influence on the variance of the net asset value of Islamic equity unit trust fund in Malaysian unit trust industry. These themes categorized into internal and external factors: external factors (Macroeconomics) include economic growth, interest rate, inflation, money supply, foreign exchange rate, crude oil price, local stability, global stability, and regulatory environment. While internal factors (Microeconomics) are fund manager experience, reputation and historical performance, shariah compliant aspect (Islamic law), size of the fund, capital appreciation, income distribution and risk.
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PurposeThe aim of the paper is to identify the key factors that affect Guinean family business (FB) succession planning. The study also evaluates the impact of these factors on the succession planning process to ensure business... more
PurposeThe aim of the paper is to identify the key factors that affect Guinean family business (FB) succession planning. The study also evaluates the impact of these factors on the succession planning process to ensure business continuity.Design/methodology/approachThis descriptive quantitative research is based on a survey of 383 family businesses FBs in Conakry, the capital city of Guinea. The structural equation model (SEM) was used to analyze and validate the model featuring factors that influence family business FB succession planning (FBSP). The Theory of Stewardess and the Theory of FB Rivalry have been employed in the study.FindingsWhile the incumbent attributes, firm attributes, and estate tax were revealed to have no significant influence on succession planning, the successor attributes and the family relationship significantly affected succession planning. Besides, undesirable domestic relationships among children of different mothers from polygamous families had an indirect impact on business succession planning.Research limitations/implicationsThe limitations of the study include the population of the FBs being restricted only to those located in Conakry, the capital city. The study did not consider other regions and cities of Guinea. Besides, the grouping of attributes or characteristics was problematic, and studying each attribute separately as an independent variable would be much better. Finally, the limited literature and available data on Guinean FBs in general and succession planning generalize the findings to be done cautiously. Therefore, more studies are needed on FB succession in the country to further confirm these findings.Social implicationsThe study may help ensure social solidarity based on the findings of factors associated to polygamous families in relation to businesses.Originality/valueFew studies have been done on FBs in Conakry. Besides, putting attributes or characteristics into categories has been presented. Moreover, there is inadequate relevant literature and data on Guinean FBSP. Considering these limitations, the generalization of the findings should be done with caution. Therefore, this study touched on the issue of family business succession in Guinea which substantiates the findings.
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Purpose This study aims to identify the involuntary barriers of financial inclusion which are affecting the usage of Islamic microfinance services in PROCAPEC institution located in Nouakchott-Mauritania. Subsequently, it also examines... more
Purpose This study aims to identify the involuntary barriers of financial inclusion which are affecting the usage of Islamic microfinance services in PROCAPEC institution located in Nouakchott-Mauritania. Subsequently, it also examines the effect of gender as a moderator in the model. Design/methodology/approach Primary data was collected through a cross-sectional questionnaire from 381 beneficiaries of PROCAPEC – a major Islamic microfinance provider in Mauritania. In methodology, the study uses confirmatory factor analysis to identify relevant involuntary factors affecting usage, followed by structural equation modelling to test the impact of these factors on the usage of Islamic microfinance (IsMF) products. Findings Two of the four factors are statistically significant in affecting the usage of IsMF products, namely, affordability and eligibility. Gender is a moderator in the relationship between affordability and usage, as well as eligibility and usage. Practical implications Policymakers, practitioners and managers of Islamic microfinance institutions can consider these factors and focus on strategies, including pricing and promotion, which aim to further develop the Islamic microfinance industry in Mauritania. Also, reducing documentation required from clients and adopting lenient rules to provide suitable products will enhance the use of IsMF products, which may lead to more customers’ attraction. Originality/value Although several researchers have articulated financial inclusion, this study sheds light on a specific dimension of financial inclusion to determine the factors impacting IsMF products’ usage. In Mauritania, there are few studies about microfinance. This study will be amongst the pioneer contribution to the geographical gap.
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يهدف هذا البحث إلى قياس ارتباط كلا من دراسة الجدوى الاقتصادية والضمانات المقدمة للتمويل المشاريع الصغيرة والمتوسطة وقرارات التمويل من المصارف الاسلامية في دولة الكويت. اتبعت هذه الدراسة نوع الدراسات الميدانية المتضافرة بالأسلوب الوصفي... more
يهدف هذا البحث إلى قياس ارتباط كلا من دراسة الجدوى الاقتصادية والضمانات المقدمة للتمويل المشاريع الصغيرة والمتوسطة وقرارات التمويل من المصارف الاسلامية في دولة الكويت. اتبعت هذه الدراسة نوع الدراسات الميدانية المتضافرة بالأسلوب الوصفي التحليلي، مستهدفا تقييما صحيحا للمتطلبات الداخلية لإقامة المشروعات الصغيرة والمتوسطة، والوقوف على الآثار المترتبة من هذه المتطلبات على القرارات التي تتخذها المصارف الإسلامية لتقديم تمويلات لهذه المشروعات. شملت عينة الدراسة 200 موظف من مجموع العاملين في المصارف الإسلامية ضمن دائرة الإئتمان. أظهرت النتائج وجود تأثير ذو دلالة إحصائية عند مستوى دلالة ( 0.05) لدراسة الجدوى الإقتصادية للمشروعات الصغيرة والمتوسطة على قرارات تمويل هذه المشاريع من المصارف الإسلامية الكويتية. كما اظهرت وجود تأثير ذو دلالة إحصائية عند مستوى دلالة ( 0.05) للضمانات المقدمة من المشروعات الصغيرة والمتوسطة على قرارات تمويل هذه المشاريع من المصارف الإسلامية الكويتية. توصي الدراسة قيام المصارف الإسلامية الكويتية بالمساهمة في إعتماد دراسات الجدوى الاقتصادية للمشروع الصغير والمتوسط وذلك للوقوف على إمكانية نجاحه في المستقبل ولتقليل الضمانات المطلوبة لتمويله من قبل هذه المصار
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The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) was established in 1990 to develop different standards to guide the Islamic financial institutions around the world. Although these standards are... more
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) was established in 1990 to develop different standards to guide the Islamic financial institutions around the world. Although these standards are mandatorily adopted by six countries, the level of harmonization varies from one country to another. The financial reporting regulations were found to be significantly responsible for the variation in the disclosure levels across the countries. This study helps the regulatory authorities in the selected countries to understand how their financial reporting regulations affect the harmonization process of the AAOIFI accounting standards. This is a pioneer study that investigates theoretically and empirically the influential role of the regulations on the disclosure levels across countries.
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Due to the importance of the Murabaha contract, and its adoption by many Islamic banks as a result of low risk product, to the extent that the use of the Murabaha formula in some banks represents 80% of the total financing operations, and... more
Due to the importance of the Murabaha contract, and its adoption by many Islamic banks as a result of low risk product, to the extent that the use of the Murabaha formula in some banks represents 80% of the total financing operations, and because this contract contains a variety of procedures starting with the purchase order, and closing by finalizing the Murabahah contract between the bank (buyer) and the client (purchase orderer) by setting up the premium payment agreement, many of the violations, and some types of the chicaneries, which may occur in collusion of the bank, and sometimes can be ascribed to the misconducts of some staffs contrary to the general policy of the bank, and there are part of the chicaneries attributed to the client, all these need to be highlighted, analyzed and their legitimacy form Shariah point of view must be clarified. We have been keen to absorb most of the current chicaneries mentioned by contemporary fatwas, recent academic research papers, and reports of the relevant banks, we have adopted the descriptive and analytical approach in the study, aiming to a new and quality study as specialized value added in this field.
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In a dual capital market system such as in Malaysia, the possibility for investors to choose either the Islamic funds or the conventional funds is highly likely depending on the performance of the funds. While some investors would adhere... more
In a dual capital market system such as in Malaysia, the possibility for investors to choose either the Islamic funds or the conventional funds is highly likely depending on the performance of the funds. While some investors would adhere to the requirements of the Sharīʿah in making their investment decision, there remains many who are guided purely by profit and would likely switch depending on the fund performance. This study is carried-out to compare the performance of both the Islamic and conventional equity unit trust funds in Malaysia in order to guide investors in planning their choice and determining their portfolio diversification strategy. The two-sample test of hypothesis was conducted to compare the performance of the two population means via the capital gain over the period from January 2004 to December 2009. The findings of this study show that the Islamic equity unit trust funds perform better than the conventional equity unit trust funds in the Malaysian capital market during the specified time period, suggesting that the Islamic equity unit trust funds in Malaysia are more profitable than the conventional equity unit trust funds. This study provides relevant inputs to further support the development of a vibrant Islamic equity market could serve as an international Islamic financial hub at the global level.
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منهج شمولي تشجيعي دائم لكافة فئات المجتمع لتعزيز الوصول واستخدام الخدمات والمنتجات المالية الإسلامية البعيدة عن الربا بتكلفة مناسبة وجودة عالية، والسعي لشمول الفئات المستبعدة من النظام التقليدي إما لأسباب دينية أو أسباب أخري، وتعزيز... more
منهج شمولي تشجيعي دائم لكافة فئات المجتمع لتعزيز الوصول واستخدام الخدمات والمنتجات المالية الإسلامية البعيدة عن الربا بتكلفة مناسبة وجودة عالية، والسعي لشمول الفئات المستبعدة من النظام التقليدي إما لأسباب دينية أو أسباب أخري، وتعزيز الوصول والاستخدام لخدمات التمويل الاجتماعي الإسلامي Islamic social finance من زكاة ووقف وتمويل أصغر وصكوك وغيرها، وذلك للمساهمة في التنمية الاقتصادية ومواجهه الأزمات وتحقيق الرفاه الاجتماعي للجميع"
This study attempts to examine the impact of using Islamic microfinance products on the Mauritanian microentrepreneurs’ income level. The study is purely quantitative, and it uses cross-sectional design data which was gathered through a... more
This study attempts to examine the impact of using Islamic microfinance products on the Mauritanian microentrepreneurs’ income level. The study is purely quantitative, and it uses cross-sectional design data which was gathered through a questionnaire from a sample of 381 beneficiaries of an Islamic microfinance institution (PROCAPEC). It uses Structural Equation Modeling (SEM) to determine the effectiveness of using Islamic microfinance products on the beneficiaries' income as well as to test the moderator effect of gender on the relationship in the model. The research found out that the use of Islamic microfinance products has increased the beneficiaries’ income; however, gender has no moderator effect on the relationship between the usage of Islamic microfinance products and income level. These findings are useful for the policymakers and managers of Islamic microfinance to consider the factors increasing the usage of Islamic microfinance products to reduce poverty in the country. This is study is among the pioneer in the field of Islamic microfinance in Mauritanian due to the scarcity of studies in the geographical context
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The objective of this study is to investigate the role of openness to change as personal values on moderating the relationship between employees’ involvement and employees’ readiness for change. Nature of change whether imposed or... more
The objective of this study is to investigate the role of openness to change as personal values on moderating the relationship between employees’ involvement and employees’ readiness for change. Nature of change whether imposed or voluntary which has been evident its effect on the mentioned relationship though the literature is the other objective. Structure equation modelling approach with AMOS software was used to examine the moderator effect of openness values on the relationship between involvement in the change process and employees’ readiness for change in study 1. To confirm, we manipulated nature of change in study 2 as a moderator between openness to and readiness for change. The findings showed that openness value was significant whereas nature of change was not significant. This means that the imposed nature of change does not affect neither high nor low opened employees to react to the change positively. The results of these studies contribute to the body of knowledge of the terms been studied. Besides, highlighting the negative role of imposed change may benefit decision makers as well as change agents in implementing changes
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Purpose This paper aims to investigate the linear and nonlinear interactions between the blockchain technology index and the UAE stock market index within the context of the Abu Dhabi and Dubai banking sector. Design/methodology/approach... more
Purpose This paper aims to investigate the linear and nonlinear interactions between the blockchain technology index and the UAE stock market index within the context of the Abu Dhabi and Dubai banking sector. Design/methodology/approach In this study, linear analysis was performed using the generalized autoregressive conditional heteroscedasticity model (GARCH) (1,1) model, whereas nonlinear analysis was performed using the wavelet coherence model. Findings Based on the results of the GARCH (1) model, the authors find that the blockchain technology index has a positive significant impact on stock market returns in the Abu Dhabi and Dubai banking sector. In addition, the findings indicate that increasing blockchain integration in the banking industry decreases banks’ stock market volatility and facilitates price stabilization. Additionally, the coherence wavelet analysis reveals that there is a phase relationship between the blockchain technology index and banks’ stock market indice...
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Small and Medium Enterprises (SMEs) has been recognized as the backbone to a country’s economic development and social benefits. Malaysian SMEs contributed 38.8% to overall GDP, 17.3% to total exports and 66.2% to total employment. Huge... more
Small and Medium Enterprises (SMEs) has been recognized as the backbone to a country’s economic development and social benefits. Malaysian SMEs contributed 38.8% to overall GDP, 17.3% to total exports and 66.2% to total employment. Huge budget allocations were put every year to enhance and encourage the improvement on SMEs. However, it was found that many of the SMEs failed within the first years of its business operations despite various programs and initiatives by the government agencies. Therefore, this paper aims to determine factors that determine sustainable financial performance of SMEs in Malaysia namely, Financial Knowledge, Financial Attitude, Financial Socialization Agents, Financial Skills and Accounting Skills. The relationship of these factors towards SMEs performance is measured using regression and factor analysis conducted using the Statistical Package for the Social Sciences (SPSS) software. Findings reveal that all factors have a significant relationship with SME ...