{"status":"ok","message-type":"work-list","message-version":"1.0.0","message":{"facets":{},"total-results":331,"items":[{"indexed":{"date-parts":[[2023,2,27]],"date-time":"2023-02-27T01:49:46Z","timestamp":1677462586106},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,12]]},"DOI":"10.12816\/0002745","type":"journal-article","created":{"date-parts":[[2014,7,6]],"date-time":"2014-07-06T11:02:24Z","timestamp":1404644544000},"page":"1-4","source":"Crossref","is-referenced-by-count":5,"title":["Editorial"],"prefix":"10.55188","volume":"4","author":[{"given":"Asyraf Wajdi","family":"Dusuki","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:19Z","timestamp":1672830319000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42555"}},"issued":{"date-parts":[[2012,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2012,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0002745","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,12]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:04:34Z","timestamp":1672898674585},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,6]]},"DOI":"10.12816\/0002737","type":"journal-article","created":{"date-parts":[[2014,6,26]],"date-time":"2014-06-26T10:52:40Z","timestamp":1403779960000},"page":"81-97","source":"Crossref","is-referenced-by-count":1,"title":["Building Agent-Customer Relationship in the Tak\u0101 Ful Industry : A Framework of Islamic Relationship Marketing"],"prefix":"10.55188","volume":"4","author":[{"given":"Marhanum Che Mohd","family":"Salleh","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Nurdianawati Irwani","family":"Abdullah","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Siti Salwani","family":"Razali","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:18Z","timestamp":1672830318000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42547"}},"issued":{"date-parts":[[2012,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2012,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0002737","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,6]]}},{"indexed":{"date-parts":[[2026,7,1]],"date-time":"2026-07-01T03:34:30Z","timestamp":1782876870009,"version":"3.54.5"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2023,5,23]],"date-time":"2023-05-23T00:00:00Z","timestamp":1684800000000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2012 There is an increasing number of digital \u1e63uk\u016bk issuances worldwide but the level of awareness and adoption in Nigeria is very low. This research examines the mediating effect of awareness on the relationship between attitude, subjective norm, perceived behavioural control and digital \u1e63uk\u016bk adoption in Nigeria.\nDesign\/Methodology\/Approach \u2012 The data for the research were collected from 750 questionnaires that were distributed using the systematic sampling technique to operators of the capital market and individuals in Nigeria, out of which 410 were retained. The partial least squares structural equation modelling (PLS\u2013SEM) algorithm was used for the reliability measurement and constructs validity while the bootstrapping technique was used for testing the study hypotheses.\nFindings \u2012 The findings reveal that awareness mediated the relationship that exists between subjective norm, attitude, perceived behavioural control, and digital \u1e63uk\u016bk adoption in Nigeria. Overall, the empirical findings rejected seven out of 10 null hypotheses developed to answer the research questions.\nOriginality\/Value \u2012 The study serves as a pioneering effort towards unlocking the viability of digital \u1e63uk\u016bk adoption amongst the Nigerian populace.\nResearch Limitations\/Implications \u2012 The findings provide empirical evidence that awareness mediated the interrelationship between the explanatory variables (subjective norm, attitude and perceived behavioural control) towards digital \u1e63uk\u016bk adoption in Nigeria.\nPractical Implications \u2012 The findings suggest the need for the Debt Management Office (DMO) in partnership with the Central Bank of Nigeria (CBN) to facilitate the required regulation and standard pertaining to digital \u1e63uk\u016bk issuances and structures.\nArticle Classification \u2012 Research paper<\/jats:p>","DOI":"10.55188\/ijif.v15i2.539","type":"journal-article","created":{"date-parts":[[2023,6,13]],"date-time":"2023-06-13T08:55:02Z","timestamp":1686646502000},"page":"4-19","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":3,"title":["Attitude, Subjective Norm, Perceived Behavioural Control and Digital \u1e62uk\u016bk Adoption in Nigeria: The Mediating Effect of Awareness"],"prefix":"10.55188","volume":"15","author":[{"given":"Isah","family":"Shittu","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Yahuza","family":"Salisu","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2023,5,23]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/539\/419","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/539\/419","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:35:42Z","timestamp":1715909742000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/539"}},"issued":{"date-parts":[[2023,5,23]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2023,6,13]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i2.539","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,5,23]]},"assertion":[{"value":"2023-05-23","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication 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Muhammad","family":"Bouheraoua","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Beebee Salma","family":"Sairally","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:16Z","timestamp":1672830316000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42551"}},"issued":{"date-parts":[[2012,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2012,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0002741","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,6]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T07:02:51Z","timestamp":1672902171117},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2022,12,8]],"date-time":"2022-12-08T00:00:00Z","timestamp":1670457600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,12,8]]},"DOI":"10.1108\/ijif-12-2022-261","type":"journal-article","created":{"date-parts":[[2022,12,6]],"date-time":"2022-12-06T06:27:30Z","timestamp":1670308050000},"page":"238-240","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"14","author":[{"given":"Beebee Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2022,12,8]]},"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-12-2022-261\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-12-2022-261\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:25Z","timestamp":1672830385000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-12-2022-261\/full\/html"}},"issued":{"date-parts":[[2022,12,8]]},"references-count":0,"journal-issue":{"issue":"3","published-online":{"date-parts":[[2022,12,8]]},"published-print":{"date-parts":[[2022,12,8]]}},"alternative-id":["10.1108\/IJIF-12-2022-261"],"URL":"https:\/\/doi.org\/10.1108\/ijif-12-2022-261","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2022,12,8]]}},{"indexed":{"date-parts":[[2026,1,8]],"date-time":"2026-01-08T07:19:19Z","timestamp":1767856759149,"version":"3.49.0"},"reference-count":13,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2017,12,4]],"date-time":"2017-12-04T00:00:00Z","timestamp":1512345600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,12,4]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to ascertain the Shar\u012b\u02bfah (Islamic law) stance on the imposition of goods and services tax (GST) on tabarru\u02bf<\/jats:italic>-based tak\u0101ful<\/jats:italic> (donation-based Islamic insurance) products in Malaysia. The paper aims to do so by analysing the philosophy, purposes and structure of GST on tak\u0101ful<\/jats:italic> products and comparing the imposition of GST on tabarru\u02bf<\/jats:italic>-based tak\u0101ful<\/jats:italic> with its imposition on conventional insurance while probing into the Shar\u012b\u02bfah texts and opinions of classical and contemporary scholars about taxation in Islam.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe paper uses a qualitative research methodology. In addition to the literature and text on websites, the information on how GST is applied in practice is also obtained through interviews, discussions and documents from tak\u0101ful<\/jats:italic> operators. To determine the Shar\u012b\u02bfah position on GST, reference has been made to classical and contemporary Shar\u012b\u02bfah literature, including local and international Shar\u012b\u02bfah advisory bodies\u2019 resolutions and standards.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThis study finds that a strict interpretation of Shar\u012b\u02bfah does not allow for the imposition of GST; however, there is still room for the government to justify it using a broader interpretation of ma\u1e63la\u1e25ah<\/jats:italic> (public interest). Tak\u0101ful<\/jats:italic> has become a need for the society and is subscribed to by all income groups, and not only by the rich. Hence, the government should consider exempting tak\u0101ful<\/jats:italic> products from GST. The basis of tabarru\u02bf<\/jats:italic> in tak\u0101ful<\/jats:italic> does not provide conclusive Shar\u012b\u02bfah evidence for tak\u0101ful<\/jats:italic> to be exempted from GST.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThis research paves the way for the industry to propose further measures on GST for tak\u0101ful<\/jats:italic> products such as the exemption of GST on the tabarru\u02bf<\/jats:italic> amount or imposition of a zero rate of GST on the relevant tak\u0101ful<\/jats:italic> fees and charges that are currently burdensome to consumers.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-08-2017-0027","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:35Z","timestamp":1545304835000},"page":"205-209","source":"Crossref","is-referenced-by-count":3,"title":["The goods and services tax (GST) on tak\u0101ful<\/i> products: a critical Shar\u012b\u02bfah appraisal"],"prefix":"10.55188","volume":"9","author":[{"given":"Burhanuddin","family":"Lukman","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Saba\u2019 Radwan Jamal","family":"Elatrash","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","reference":[{"key":"key2020120412020608300_ref001","volume-title":"Shar\u012b\u02bfah Standards for Islamic Financial Institutions (English Version)","author":"Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)","year":"2015"},{"key":"key2020120412020608300_ref002","volume-title":"Al-Shar\u1e25 al-\u1e62agh\u012br \u2013 bi \u1e24\u0101shiyat al-\u1e62\u0101w\u012b","author":"Al-Dard\u012br"},{"key":"key2020120412020608300_ref003","volume-title":"Ghiy\u0101th al-Umam","author":"al-Juwayn\u012b","year":"1401"},{"key":"key2020120412020608300_ref004","volume-title":"al-A\u1e25k\u0101m al-Sul\u1e6d\u0101niyyah","author":"Al-M\u0101ward\u012b"},{"key":"key2020120412020608300_ref005","author":"(2007 digital version)"},{"key":"key2020120412020608300_ref006","volume-title":"Raw\u1e0dat al-\u1e6c\u0101lib\u012bn","author":"Al-Nawaw\u012b","year":"1991"},{"key":"key2020120412020608300_ref007","unstructured":"Al-Qarad\u0101gh\u012b (n.d.), Hal Yaj\u016bz li al-\u1e24\u0101kim Far\u1e0d al-\u1e0car\u012bbah bi J\u0101nib al-Zak\u0101h, available at: www.qaradaghi.com\/chapterDetails.aspx?ID=502 (accessed 1 August 2016)."},{"key":"key2020120412020608300_ref008","volume-title":"Fiqh al-Zak\u0101h","author":"Al-Qara\u1e0d\u0101w\u012b","year":"2000"},{"key":"key2020120412020608300_ref009","volume-title":"Al-J\u0101mi\u02bf li A\u1e25k\u0101m al-Qur\u02be\u0101n","author":"Al-Qur\u1e6dub\u012b","year":"1964"},{"key":"key2020120412020608300_ref010","volume-title":"Al-Khar\u0101j wa al-Nu\u1e93um al-M\u0101liyyah f\u012b al-Dawlah al-Isl\u0101miyyah","author":"Al-Rais, \u1e0ciya\u02beudd\u012bn","year":"1985"},{"key":"key2020120412020608300_ref011","volume-title":"A\u1e25k\u0101m al-Qur\u02be\u0101n","author":"Ibn al-\u02bfArab\u012b","year":"2003"},{"key":"key2020120412020608300_ref012","volume-title":"Mar\u0101tib al-Ijm\u0101\u02bf","author":"Ibn \u1e24azm"},{"key":"key2020120412020608300_ref013","volume-title":"Al-Fat\u0101w\u0101","year":"2004"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0027\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0027\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:46Z","timestamp":1672830346000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0027\/full\/html"}},"issued":{"date-parts":[[2017,12,4]]},"references-count":13,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2017,12,4]]}},"alternative-id":["10.1108\/IJIF-08-2017-0027"],"URL":"https:\/\/doi.org\/10.1108\/ijif-08-2017-0027","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,12,4]]}},{"indexed":{"date-parts":[[2026,6,17]],"date-time":"2026-06-17T16:45:35Z","timestamp":1781714735654,"version":"3.54.5"},"reference-count":61,"publisher":"International Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2021,7,29]],"date-time":"2021-07-29T00:00:00Z","timestamp":1627516800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2021,12,17]]},"abstract":"Purpose<\/jats:title>In recent years, the fast growth of Islamic banks (IBs) has generated debates among policymakers and economists about the sustainability and performance of these institutions. This paper aims to undertake a comparative analysis of the financial performance of IBs and conventional banks (CBs) in Pakistan over the period 2008\u20132019 to evaluate how IBs are faring compared to their conventional peers.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>This paper considers Financial Ratio Analysis (FRA) to analyse and compare the performance of the top-10 IBs and CBs operating in Pakistan. The sample includes five full-fledged IBs and five CBs which offer Islamic windows in Pakistan. The top-five performing CBs offering Islamic windows have been selected in this study.<\/jats:p><\/jats:sec>Findings<\/jats:title>The results show that IBs are better capitalized, less risky and have higher liquidity as compared to CBs. In contrast, the profits of IBs are found to be lower than those of CBs.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>The study has provided an analysis of financial performance only for Pakistan. A cross-country analysis could be more representative of the performance of IBs.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>The study infers that the size of the Islamic banking industry in Pakistan should be enhanced by opening new branches and promoting Islamic financial literacy.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>The study assists investors, creditors, debtors and managers in making better decisions. It also provides the latest valuable information to regulators and policymakers that can be used to make rules and policies for the finance industry in Pakistan.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-08-2018-0093","type":"journal-article","created":{"date-parts":[[2021,7,28]],"date-time":"2021-07-28T04:42:12Z","timestamp":1627447332000},"page":"331-346","source":"Crossref","is-referenced-by-count":29,"title":["A comparative analysis of financial performance of Islamic banks vis-\u00e0-vis conventional banks: evidence from Pakistan"],"prefix":"10.55188","volume":"13","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-9374-5025","authenticated-orcid":false,"given":"Muhammad Tariq","family":"Majeed","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Abida","family":"Zainab","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2021,7,29]]},"reference":[{"issue":"2","key":"key2021121510373835600_ref001","doi-asserted-by":"crossref","first-page":"185","DOI":"10.1108\/IJIF-09-2017-0030","article-title":"Credit risk management a comparative study of Islamic banks and conventional banks in Pakistan","volume":"10","year":"2018","journal-title":"ISRA International Journal of Islamic Finance"},{"issue":"2","key":"key2021121510373835600_ref002","doi-asserted-by":"crossref","first-page":"303","DOI":"10.1108\/IJIF-05-2018-0054","article-title":"Performance of Islamic banks: do the frequency of Shar\u012b\u02bfah supervisory board meetings and independence matter","volume":"11","year":"2019","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2021121510373835600_ref003","first-page":"1","article-title":"Financial performance of Islamic and conventional banks in Pakistan: a comparative study","year":"2012"},{"issue":"3","key":"key2021121510373835600_ref004","doi-asserted-by":"crossref","first-page":"101","DOI":"10.1016\/j.rfe.2010.03.002","article-title":"Competitive conditions in Islamic and conventional banking: a global perspective","volume":"19","year":"2010","journal-title":"Review of Financial Economics"},{"issue":"4","key":"key2021121510373835600_ref005","first-page":"1383","article-title":"Performance of Islamic and conventional banks in Pakistan: a comparative study","volume":"6","year":"2016","journal-title":"International Journal of Economics and Financial Issue"},{"issue":"2","key":"key2021121510373835600_ref006","first-page":"1","article-title":"Cost, revenue and profit efficiency of Islamic versus conventional banks","volume":"15","year":"2008","journal-title":"Islamic 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Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2020,11,16]],"date-time":"2020-11-16T00:00:00Z","timestamp":1605484800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2020,11,16]]},"abstract":"Purpose<\/jats:title>This paper aims to attempt to first examine the competitiveness of micro, small and medium-sized enterprises (MSMEs) in the logistics industry; second, to identify the MSMEs\u2019 perception towardstak\u0101ful<\/jats:italic>(Islamic insurance); third, to recognise the challenges in the adoption oftak\u0101ful<\/jats:italic>; and fourth, to suggest strategies to enhance the micro-tak\u0101ful<\/jats:italic>penetration rate.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>The SWOT (strengths, weaknesses, opportunities and threats) analysis was used to measure the MSMEs\u2019 competitiveness. Interview sessions were conducted with 13 owners of MSMEs in the logistics industry from the period November 2018 until January 2019 in Selangor, Malaysia.<\/jats:p><\/jats:sec>Findings<\/jats:title>The SWOT analysis identified several strengths (e.g. advanced infrastructure, rising number of new entrants and contribution to the local economy), weaknesses (e.g. lack of digital culture and training and a dearth of expertise), opportunities (e.g. supportive government initiatives and evolution of the mobile internet) and threats (e.g. changing customer expectations and limited financing facilities). The MSMEs\u2019 perception towards micro-tak\u0101ful<\/jats:italic>and challenges in the adoption oftak\u0101ful<\/jats:italic>were also identified.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This paper provides an understanding of the MSMEs\u2019 perception towards micro-tak\u0101ful<\/jats:italic>products, sheds light on the challenges faced by MSME owners in protecting their businesses from risk exposures and offers strategies to enhance the micro-tak\u0101ful<\/jats:italic>penetration rate. This study, however, is limited to Malaysia\u2019s experience.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>The identification of MSMEs\u2019 SWOT will be useful for these businesses as it provides solid information that can be used to improve business performance while also seekingtak\u0101ful<\/jats:italic>protection. This paper, other than serving as a guideline for stakeholders in the logistics industry to have a better understanding of their business environment, may also provide useful insights to practitioners and policymakers.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This paper integrates the SWOT analysis into a study on business risk exposure andtak\u0101ful<\/jats:italic>protection from the MSMEs\u2019 perspective. Hence, the findings could broaden available knowledge on MSMEs, especially for businesses in the logistics industry. The knowledge may also facilitate matters fortak\u0101ful<\/jats:italic>operators interested in tapping into the market.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-03-2019-0038","type":"journal-article","created":{"date-parts":[[2020,11,26]],"date-time":"2020-11-26T02:15:50Z","timestamp":1606356950000},"page":"367-380","source":"Crossref","is-referenced-by-count":17,"title":["Micro, small and medium enterprises\u2019 competitiveness and micro-tak\u0101ful<\/i>adoption"],"prefix":"10.55188","volume":"12","author":[{"given":"Maizaitulaidawati","family":"Md Husin","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Razali","family":"Haron","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020122107202151500_ref001","doi-asserted-by":"publisher","DOI":"10.1108\/JIMA-05-2020-0124","article-title":"The role of government in promoting halal logistics: a 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(2018), \u201cInnovation in a disruptive era\u201d, available at: www.bnm.gov.my\/index.php?ch=en_speech&pg=en_speech&ac=808 (accessed 3 December 2019)."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-03-2019-0038\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-03-2019-0038\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,8,18]],"date-time":"2024-08-18T02:35:12Z","timestamp":1723948512000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-03-2019-0038\/full\/html"}},"issued":{"date-parts":[[2020,11,16]]},"references-count":43,"journal-issue":{"issue":"3","published-print":{"date-parts":[[2020,11,16]]}},"alternative-id":["10.1108\/IJIF-03-2019-0038"],"URL":"https:\/\/doi.org\/10.1108\/ijif-03-2019-0038","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2020,11,16]]}},{"indexed":{"date-parts":[[2026,7,31]],"date-time":"2026-07-31T23:01:53Z","timestamp":1785538913671,"version":"3.56.0"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2023,3,6]],"date-time":"2023-03-06T00:00:00Z","timestamp":1678060800000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 This research explores the impact of COVID-19 on the financial return of Islamic banks (IBs) in nine countries located in the Middle East and North Africa (MENA) region. It also examines the determinants of IBs\u2019 profitability during stable and uncertain periods, namely before and during the development of coronavirus.\nDesign\/Methodology\/Approach \u2014 The financial data of this paper were collected from annual reports of IBs and the Orbis Bank Focus database over four years: 2018, 2019, 2020 and 2021. Descriptive statistics were used to examine the progress of IBs\u2019 performance from 2018 to 2021. The t-test was employed in this research paper to compare the financial proxies of IBs, and the multiple regression model was used to assess the determinants of IBs\u2019 performance before and during the development of coronavirus in MENA countries.\u00a0\u00a0\u00a0\u00a0\nFindings \u2014 The empirical findings show that IBs in MENA countries were dramatically influenced by the development of COVID-19. All financial proxies of IBs like financial return and liquidity experienced a sharp drop during the lockdown period. The empirical findings also indicate that the financial situation of IBs in 2021 became close to the pre-pandemic situation but was nonetheless below the banks\u2019 performance prior to the pandemic period (2018-2019). Finally, the results show that the determinants of IBs\u2019 return were not the same during stable and uncertain periods. During the COVID-19 period, credit risk, managerial efficiency and oil price were the significant determinants of IBs\u2019 profitability. Before the development of COVID-19, besides the elements of credit risk, managerial efficiency and oil price, liquidity risk and bank size were also found to have an influence on IBs\u2019 profitability.\nOriginality\/Value \u2014 The research offers new insights to top managers in IBs to increase the institutions\u2019 financial return and mitigate the negative shock of crises by managing several factors such as credit risk and managerial efficiency.\u00a0\nErratumArticle classification:\u00a0Erratum\u00a0from: ISRA International Journal of Islamic Finance Vol. 15 No. 1 (2023)Publisher: ISRA Research Management Centre, INCEIF University El-Chaarani, H. (2023), \u2018The Impact of COVID-19 on the Performance of Islamic Banks in the MENA Region\u2019, ISRA International Journal of Islamic Finance, Vol. 15 No. 1, pp. 109\u2013129. https:\/\/doi.org\/10.55188\/ijif.v15i1.488. It has been brought to our attention by the author that minor mistakes have been left out in the author\u2019s details which appear on pages 109 and 129 of the article. The author would like to make the following corrections within his affiliation:\n\nThe author\u2019s affiliation on page 109 should instead read: \u2018Beirut Arab University, Tripoli, Lebanon\u2019.\nUnder ABOUT THE AUTHOR on page 129, the author\u2019s details should instead read: He is the Director of the Faculty of Business\u00a0Administrationat Beirut Arab University, Tripoli, Lebanon.\u00a0\n\nThese have been corrected in the online version of the paper.Citation:(2023), \u2018Erratum\u2019, ISRA International Journal of Islamic Finance, Vol. 15 No. 1, https:\/\/doi.org\/10.55188\/ijif.v15i1.488<\/jats:p>","DOI":"10.55188\/ijif.v15i1.488","type":"journal-article","created":{"date-parts":[[2023,3,6]],"date-time":"2023-03-06T02:19:04Z","timestamp":1678069144000},"page":"109-129","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":13,"title":["The Impact of COVID-19 on the Performance of Islamic Banks in the MENA Region"],"prefix":"10.55188","volume":"15","author":[{"given":"Hani","family":"El-Chaarani","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2023,3,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/488\/444","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/488\/444","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:35:21Z","timestamp":1715909721000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/488"}},"issued":{"date-parts":[[2023,3,6]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2023,3,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i1.488","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,3,6]]},"assertion":[{"value":"2023-03-06","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-03-06","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,9,25]],"date-time":"2026-09-25T16:53:30Z","timestamp":1790355210253,"version":"4.1.0"},"reference-count":104,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2020,3,30]],"date-time":"2020-03-30T00:00:00Z","timestamp":1585526400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2020,3,30]]},"abstract":"Purpose<\/jats:title>This study aims to highlight the importance of intellectual capital (IC) for the operation of waqf (Islamic endowment) institutions, as few studies have discussed this issue in relation to non-profit religious organisations, particularly waqf organisations. Consequently, this study hopes to contribute to the development of waqf institutions in terms of human capital proficiency, the efficiency of operations and the effectiveness and sustainability of performance.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>The authors reviewed a significant body of relevant studies written on various aspects of IC, to highlight the significance of considering IC in the operation of non-profit organisations (NPOs) and waqf institutions.<\/jats:p><\/jats:sec>Findings<\/jats:title>This study highlights the importance of IC in the operation of waqf institutions. It provides a platform that facilitates understanding of the existing obstacles and challenges in waqf institutions (such as lack of accountability, lack of funding, mismanagement and lack of trained labour, among others) and offers potential solutions through the consideration of knowledge and IC.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This study is a conceptual analysis of IC in the context of NPOs. Future studies should conduct empirical testing, which will provide more detailed discussion and enriching insights into the issue of IC and the performance of NPOs, particularly in the case of waqf institutions.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>This study provides several important implications for waqf institutions and other NPOs, as it sheds light on the consideration of knowledge and IC in their operations.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>To the best of the authors\u2019 knowledge, this study is the first to discuss the issues of waqf in the light of IC and provide an integrated framework for the operation of waqf institutions.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-10-2018-0111","type":"journal-article","created":{"date-parts":[[2020,3,27]],"date-time":"2020-03-27T15:30:12Z","timestamp":1585323012000},"page":"27-48","source":"Crossref","is-referenced-by-count":29,"title":["Intellectual capital in non-profit organisations: lessons learnt for waqf institutions"],"prefix":"10.55188","volume":"12","author":[{"given":"Abdelkader","family":"Laallam","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Salina","family":"Kassim","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Engku Rabiah Adawiah","family":"Engku Ali","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Buerhan","family":"Saiti","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"issue":"3","key":"key2020062508035597300_ref001","doi-asserted-by":"crossref","first-page":"53","DOI":"10.11113\/umran2018.5n3.233","article-title":"Factors contributing to inefficient management and maintenance of waqf properties: a literature review","volume":"5","year":"2018","journal-title":"Umran - International Journal of Islamic and Civilizational Studies"},{"key":"key2020062508035597300_ref002","volume-title":"Mu\u1e25\u0101\u1e0dar\u0101t f\u012b al-Waqf","year":"1971"},{"issue":"3","key":"key2020062508035597300_ref003","first-page":"368","article-title":"Intellectual capital in religious organisations: Malaysian zakat institutions perspective","volume":"16","year":"2013","journal-title":"Middle East Journal of Scientific Research"},{"key":"key2020062508035597300_ref004","first-page":"193","article-title":"Opportunities and challenges of waqf in Bangladesh: the way forward for socio-economic development","volume-title":"Revitalization of Waqf for Socio-Economic Development","year":"2019"},{"issue":"3","key":"key2020062508035597300_ref005","doi-asserted-by":"crossref","first-page":"287","DOI":"10.1002\/nml.10305","article-title":"Adaptive strategies of nonprofit human service organizations in an era of devolution and new public management","volume":"10","year":"2000","journal-title":"Nonprofit Management and Leadership"},{"key":"key2020062508035597300_ref006","first-page":"557","article-title":"Al-Bin\u0101\u02be al-Mu\u02beassas\u012b li al-Waqf f\u012b buld\u0101n al-Hil\u0101l al-Kha\u1e63\u012bb","volume-title":"Ni\u1e93\u0101m al-Waqf wa al-Mujtam\u02bf al-Madan\u012b f\u012b al-Wa\u1e6dan al-\u02bfArab\u012b","year":"2003"},{"issue":"10","key":"key2020062508035597300_ref007","first-page":"123","article-title":"Dawr al-Nu\u1e93um al-Ma\u02bflum\u0101tiyyah f\u012b da\u02bfm kaf\u0101\u02beat al-Qi\u1e6d\u0101\u02bf al-Waqf\u012b","volume":"14","year":"2006","journal-title":"Majalat Awq\u0101f"},{"key":"key2020062508035597300_ref008","unstructured":"Al-Luwaikh, A. 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Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2019,11,16]],"date-time":"2019-11-16T00:00:00Z","timestamp":1573862400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,11,16]]},"abstract":"Purpose<\/jats:title>This study aims to examine the resolutions issued by the Shar\u012b\u02bfah Advisory Council of Bank Negara Malaysia (SAC-BNM), which have recognizedma\u1e63la\u1e25ah<\/jats:italic>(public interest) as the basis of ruling to see the extent of its usefulness to the public and the extent of its adherence to thema\u1e63la\u1e25ah<\/jats:italic>parameters. The study will also look into the opposing opinion to identify the basis of rejection and overall implication on Islamic finance based on opposing opinions of SAC-BNM and other bodies of collectiveijtih\u0101d<\/jats:italic>(juristic interpretation).<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>The study uses a qualitative approach by analyzing the SAC-BNM resolutions, which have been resolved based onma\u1e63la\u1e25ah<\/jats:italic>. The study also applies the comparative approach by comparing the fatwa (Shar\u012b\u02bfah pronouncement) issuing bodies of Malaysia and the Gulf Cooperation Council countries. Furthermore, the secondary data is obtained from sources such asu\u1e63\u016bl al-fiqh<\/jats:italic>(theory of Islamic jurisprudence) books, papers and relevant internet sources.<\/jats:p><\/jats:sec>Findings<\/jats:title>The study found that SAC-BNM\u2019s resolutions are in line with some of the majorma\u1e63la\u1e25ah<\/jats:italic>parameters mentioned in theu\u1e63\u016bl al-fiqh<\/jats:italic>sources i.e. must not contradict with the Qur\u02be\u0101n and the Sunnah. While looking at the other two criteria of being in line withijm\u0101\u02bf<\/jats:italic>(consensus) and having a general impact, such resolutions might not fulfill the criteria of validma\u1e63la\u1e25ah<\/jats:italic>considering, respectively, the stand of collectiveijtih\u0101d<\/jats:italic>or the impact on the group of customers and institutions.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>Most available shari\u2019ah (Islamic law) research considers the perspective of fiqh (Islamic jurisprudence) while analyzing the issue ofma\u1e63la\u1e25ah<\/jats:italic>. This study aims to conduct analysis based onu\u1e63\u016bl al-fiqh<\/jats:italic>. Moreover,ma\u1e63la\u1e25ah<\/jats:italic>itself is a broad concept, which can be abused. Hence, this study discusses the parameters ofma\u1e63la\u1e25ah<\/jats:italic>to understand the validity of an important juristic tool in Shar\u012b\u02bfah.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-09-2018-0103","type":"journal-article","created":{"date-parts":[[2019,12,2]],"date-time":"2019-12-02T17:46:57Z","timestamp":1575308817000},"page":"89-102","source":"Crossref","is-referenced-by-count":6,"title":["An analysis ofma\u1e63la\u1e25ah<\/i>based resolutions issued by Bank Negara Malaysia"],"prefix":"10.55188","volume":"12","author":[{"given":"Suheyib","family":"Eldersevi","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Razali","family":"Haron","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"issue":"1","key":"key2020062508035887100_ref001","first-page":"59","article-title":"Maslahah as a source of Islamic transactions (muamalat)","volume":"33","year":"2011","journal-title":"Islamiyyat: Jurnal Antarabangsa Pengajian Islam; International Journal of Islamic Studies"},{"issue":"1","key":"key2020062508035887100_ref002","doi-asserted-by":"crossref","first-page":"1","DOI":"10.22452\/fiqh.vol1no1.1","article-title":"The concept of taqlid in the reformist\u2019s point of view","volume":"1","year":"2004","journal-title":"Jurnal Fiqh"},{"key":"key2020062508035887100_ref003","volume-title":"Shari\u2019ah Standards","author":"Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)","year":"2017"},{"key":"key2020062508035887100_ref004","volume-title":"Al-Fat\u0101w\u0101 al-Shar\u02bfiyyah","author":"Al-Baraka Banking Group (Majm\u016b\u02bfat al-Barakah al-Ma\u1e63rafiyyah)","year":"2007"},{"key":"key2020062508035887100_ref005","volume-title":"\u0100th\u0101r al-Adillat al-Mukhtalaf F\u012bh\u0101 f\u012b al-Fiqh al-Isl\u0101m\u012b","year":"1999"},{"key":"key2020062508035887100_ref006","volume-title":"\u1e62a\u1e25\u012bh al-Bukh\u0101r\u012b","year":"1981"},{"key":"key2020062508035887100_ref007","volume-title":"\u1e0caw\u0101bit al-Ma\u1e63la\u1e25ah f\u012b al-Shar\u012b\u02bfah al-Isl\u0101miyyah","year":"1973"},{"key":"key2020062508035887100_ref008","volume-title":"Al-Musta\u1e63f\u0101 Min \u02bfIlm al-U\u1e63\u016bl","year":"1993"},{"key":"key2020062508035887100_ref009","unstructured":"Al-Khateeb, F. 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The sample consists of all full-fledged participation (Islamic) banks operating in Turkey spanning from 2013Q4 until 2019Q4. The study uses academic literature, official financial reports from the Participation Banks Association of Turkey, REDmoney Group, Islamic Financial Services Board (IFSB) and the International Monetary Fund (IMF) database.<\/jats:p><\/jats:sec>Findings<\/jats:title>The results show that Islamic finance is promoting economic growth in Turkey, which mirrors the success of the New Turkish Economy Program (2019\u20132021) which aims at boosting economic growth by enhancing the Islamic finance share in the Turkish banking sector and the global market.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>Turkey has a dual banking system (conventional and participation (Islamic)) and both can influence the country's real economy. This study is limited to the influence of Islamic banking on Turkish economic growth. The study also restricts its size and coverage from 2013Q4 to 2019Q4, to cover the years over which data for all variables included in the research are available.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>This paper suggests the adoption of the Turkish successful experiment as a path to reach economic growth by increasing the Islamic finance share in the banking industry for countries that seek to promote economic growth by Islamic finance, as the findings of this paper support.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This study is the first that examines the influence of Islamic finance on economic growth under a new theoretical framework of the endogenous growth model in Turkey using a robust non-parametric approach.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-12-2020-0255","type":"journal-article","created":{"date-parts":[[2021,11,9]],"date-time":"2021-11-09T07:38:35Z","timestamp":1636443515000},"page":"4-19","source":"Crossref","is-referenced-by-count":40,"title":["Islamic finance and economic growth: the Turkish experiment"],"prefix":"10.55188","volume":"14","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-7412-7221","authenticated-orcid":false,"given":"Mohammed Ayoub","family":"Ledhem","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mohammed","family":"Mekidiche","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2021,11,10]]},"reference":[{"key":"key2022052115383173300_ref001","article-title":"The determinants of Islamic banking profitability","year":"2018","journal-title":"Western Sydney University"},{"issue":"1","key":"key2022052115383173300_ref002","doi-asserted-by":"crossref","first-page":"35","DOI":"10.1108\/17538391211216811","article-title":"Islamic banking and economic growth: the Indonesian experience","volume":"5","year":"2012","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"3","key":"key2022052115383173300_ref003","doi-asserted-by":"crossref","first-page":"519","DOI":"10.1108\/IMEFM-02-2018-0071","article-title":"Islamic bank contribution to Indonesian economic growth","volume":"13","year":"2020","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"11","key":"key2022052115383173300_ref004","doi-asserted-by":"crossref","first-page":"1354","DOI":"10.18488\/journal.aefr.2018.811.1354.1364","article-title":"Islamic (participation) banking and economic growth: empirical focus on Turkey","volume":"8","year":"2018","journal-title":"Asian Economic and Financial Review"},{"issue":"3","key":"key2022052115383173300_ref005","doi-asserted-by":"crossref","first-page":"231","DOI":"10.1016\/j.bir.2017.11.004","article-title":"The effect of Islamic banks on GDP growth: some evidence from selected MENA countries","volume":"18","year":"2018","journal-title":"Borsa Istanbul Review"},{"issue":"1","key":"key2022052115383173300_ref006","doi-asserted-by":"crossref","first-page":"65","DOI":"10.1016\/0378-4266(89)90020-4","article-title":"Concentration and other determinants of bank profitability in Europe, North America and Australia","volume":"13","year":"1989","journal-title":"Journal of Banking and Finance"},{"issue":"2","key":"key2022052115383173300_ref007","doi-asserted-by":"crossref","first-page":"229","DOI":"10.1093\/wber\/15.2.229","article-title":"What have we learned from a decade of empirical research on growth? 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He is commonly referred to as Homo Islamicus.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>This is done by deriving the concept from the Qur\u02be\u0101n as the primary epistemological source in Islamic economics. The paper, thus, attempts to explore the message of the Qur\u02be\u0101n and internalize its concepts and values in their totality into the conception of the economic agent from an Islamic perspective.<\/jats:p><\/jats:sec>Findings<\/jats:title>The paper brings an insight regarding the nature of the economic agent in Islamic perspective. The concept of the economic agent that is developed from the Qur\u02be\u0101nic teachings will be useful in developing assumptions and theories in Islamic economics.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This paper explores the normative behavioral framework of man from the Qur\u02be\u0101nic perspective (i.e. what is expected of man) in order to serve as the basis on which assumptions, concepts and theories could be produced and applied in real life. Further studies could extend the discussion by examining the application of the concepts in practice.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>This paper promotes a normative behavioral framework that could be the basis in developing the body of knowledge of Islamic economics.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This paper promotes a concept of the economic agent in Islamic perspective, termed as Homo Islamicus, who is going to portray Islamic ethical teachings in economic actions. The paper brought insights from the Qur\u02be\u0101nic teachings and principles in developing the concept of Homo Islamicus who will be the representative agent in theorizing Islamic economics.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-05-2021-0102","type":"journal-article","created":{"date-parts":[[2022,6,22]],"date-time":"2022-06-22T04:01:08Z","timestamp":1655870468000},"page":"206-220","source":"Crossref","is-referenced-by-count":14,"title":["Who is Homo Islamicus? 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(1994), \u201cThe Islamic economy: between illusions and rhetoric\u201d, The Failure of Political Islam, Harvard University Press, Cambridge, MA."},{"key":"key2022090206315356600_ref042","volume-title":"Man and Islam","year":"1981"},{"issue":"2","key":"key2022090206315356600_ref043","doi-asserted-by":"crossref","first-page":"134","DOI":"10.1108\/H-11-2012-0021","article-title":"The concept of scarcity and its influence on the definitions of Islamic economics","volume":"31","year":"2015","journal-title":"Humanomics"},{"issue":"1","key":"key2022090206315356600_ref044","first-page":"147","article-title":"Crisis in Islamic economics: diagnosis and prescriptions","volume":"25","year":"2012","journal-title":"Journal of King Abdul Aziz University: Islamic Economics"},{"issue":"1","key":"key2022090206315356600_ref045","first-page":"3","article-title":"Islamization of knowledge: the concept and methodology","volume":"16","year":"2003","journal-title":"Journal of King Abdulaziz University: Islamic Economics"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-05-2021-0102\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-05-2021-0102\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:25Z","timestamp":1672830385000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-05-2021-0102\/full\/html"}},"issued":{"date-parts":[[2022,6,23]]},"references-count":45,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2022,6,23]]},"published-print":{"date-parts":[[2022,9,5]]}},"alternative-id":["10.1108\/IJIF-05-2021-0102"],"URL":"https:\/\/doi.org\/10.1108\/ijif-05-2021-0102","ISSN":["0128-1976","2289-4365"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"2289-4365","type":"electronic"}],"published":{"date-parts":[[2022,6,23]]}},{"indexed":{"date-parts":[[2024,7,14]],"date-time":"2024-07-14T11:37:23Z","timestamp":1720957043809},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2013,6]]},"DOI":"10.12816\/0002758","type":"journal-article","created":{"date-parts":[[2014,6,29]],"date-time":"2014-06-29T07:44:41Z","timestamp":1404027881000},"page":"29-88","source":"Crossref","is-referenced-by-count":4,"title":["Conceptual Analysis of Islamic Home Financing Models"],"prefix":"10.55188","volume":"5","author":[{"given":"Nabil Ben Mohamed","family":"AlMaghrebi","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:24Z","timestamp":1672830324000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42584"}},"issued":{"date-parts":[[2013,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2013,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0002758","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2013,6]]}},{"indexed":{"date-parts":[[2024,5,15]],"date-time":"2024-05-15T07:19:11Z","timestamp":1715757551150},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2010,12,15]],"date-time":"2010-12-15T00:00:00Z","timestamp":1292371200000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"abstract":"The relationship between depositors and Islamic banks is governed by a mudarabah contract. In principle, the former are regarded as rabb ul-mal (capital providers) while the latter are considered as mudarib (entrepreneurs). Profit generated from the business will be shared between both parties according to a pre-determined ratio. The present article reviews some Shari'ah issues which arise from the profit distribution method implemented in Malaysian Islamic banking institutions. It examines to what extent the current practices fulfil the principles and the ethical framework of the mudarabah contract as propounded by the classical jurists. The article analyses the justifications of the local Shari'ah scholars in modifying the doctrine to adapt to the modern banking business. This includes their decisions in authorising the Weighted Method (WM), the Profit Equalisation Reserve (PER), the indicative profit rate and the interim profit payment.<\/jats:p>","DOI":"10.55188\/ijif.v2i2.110","type":"journal-article","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:20:43Z","timestamp":1673230843000},"page":"7-24","source":"Crossref","is-referenced-by-count":1,"title":["Juristic Analysis of the Profit Distribution Method of Malaysian Islamic Banks"],"prefix":"10.55188","volume":"2","author":[{"given":"Amir","family":"Shaharuddin","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2010,12,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/download\/110\/80","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/download\/110\/80","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:20:43Z","timestamp":1673230843000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/view\/110"}},"issued":{"date-parts":[[2010,12,15]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2010,12,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v2i2.110","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2010,12,15]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:04:34Z","timestamp":1672898674394},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2013,6]]},"DOI":"10.12816\/0002763","type":"journal-article","created":{"date-parts":[[2014,6,29]],"date-time":"2014-06-29T07:44:41Z","timestamp":1404027881000},"page":"169-173","source":"Crossref","is-referenced-by-count":0,"title":["Application of Suftajah in Modern Islamic Financial Institutions"],"prefix":"10.55188","volume":"5","author":[{"given":"Yussuf Adam","family":"Al-Badani","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:23Z","timestamp":1672830323000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42592"}},"issued":{"date-parts":[[2013,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2013,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0002763","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2013,6]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:05:11Z","timestamp":1672898711562},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2015]]},"DOI":"10.12816\/0021402","type":"journal-article","created":{"date-parts":[[2016,6,15]],"date-time":"2016-06-15T16:01:01Z","timestamp":1466006461000},"page":"159-167","source":"Crossref","is-referenced-by-count":0,"title":["A Fiqh\u012b Analysis of Tradability of Islamic Securities"],"prefix":"10.55188","volume":"7","author":[{"given":"Farrukh","family":"Habib","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mohamad Akram","family":"Laldin","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Ahcene","family":"Lahsasna","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:38Z","timestamp":1672830338000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-78452"}},"issued":{"date-parts":[[2015]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2015]]}},"URL":"https:\/\/doi.org\/10.12816\/0021402","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2015]]}},{"indexed":{"date-parts":[[2026,4,1]],"date-time":"2026-04-01T12:40:24Z","timestamp":1775047224674,"version":"3.50.1"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2014,6]]},"DOI":"10.12816\/0019253","type":"journal-article","created":{"date-parts":[[2016,4,5]],"date-time":"2016-04-05T10:06:55Z","timestamp":1459850815000},"page":"87-112","source":"Crossref","is-referenced-by-count":1,"title":["Pre-Signing and Sequence in Contract Execution of Islamic Banking Products"],"prefix":"10.55188","volume":"6","author":[{"given":"Asmadi Mohamed","family":"Naim","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:31Z","timestamp":1672830331000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-75906"}},"issued":{"date-parts":[[2014,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2014,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0019253","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2014,6]]}},{"indexed":{"date-parts":[[2026,4,8]],"date-time":"2026-04-08T17:37:53Z","timestamp":1775669873007,"version":"3.50.1"},"reference-count":16,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2018,6,19]],"date-time":"2018-06-19T00:00:00Z","timestamp":1529366400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2018,6,19]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Shar\u012b\u02bfah and statutory requirements.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThis study employs the qualitative research method using the inductive approach to analyze both primary and secondary data and sources. Data collection involved a series of semi-structured interviews with five volunteering Islamic banks and a representative of Abandoned Property Owners Association Malaysia (Victims). Statutory acts, regulatory policies, guidelines, directives and standards were also analyzed.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe result indicates developer\u2019s default, underlying contracts, regulatory arbitrage and bureaucracy, attitudinal disposition of customers and sell-then-build approach as major factors of AHP\u2019s conundrum.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nThis study has suggested both short- and long-term solutions based on the principles of justice, public interests and removal of hardship to resolve and effectively manage financial hardship indebtedness arising from housing abandonment. Further, part of the proposed solutions would also reshape housing development policies and home financing transactions.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe quest for this research demonstrated Islamic banking industry\u2019s initiatives to find lasting solutions to perennial issues of AHPs.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-03-2018-0027","type":"journal-article","created":{"date-parts":[[2018,6,28]],"date-time":"2018-06-28T11:24:28Z","timestamp":1530185068000},"page":"102-110","source":"Crossref","is-referenced-by-count":3,"title":["Framework for financial hardship indebtedness management in abandoned housing projects in Malaysia"],"prefix":"10.55188","volume":"10","author":[{"given":"Sa\u2019id Adekunle","family":"Mikail","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Noor Suhaida","family":"Kasri","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Saba Radwan","family":"Elatrash","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Abideen Adeyemi","family":"Adewale","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","reference":[{"key":"key2020092810020658400_ref001","volume-title":"Shariah Standards","author":"AAOIFI","year":"2015"},{"key":"key2020092810020658400_ref002","volume-title":"Shariah Governance Framework for Islamic Financial Institutions","author":"BNM","year":"2011"},{"key":"key2020092810020658400_ref003","volume-title":"Guidelines on Ibra\u2019 (Rebate) for Sale-Based Financing","author":"BNM","year":"2011"},{"key":"key2020092810020658400_ref004","volume-title":"Guidelines on Responsible Financing","author":"BNM","year":"2012"},{"key":"key2020092810020658400_ref005","volume-title":"Classification and Impairment Provisions for Loans\/Financing","author":"BNM","year":"2015"},{"key":"key2020092810020658400_ref006","volume-title":"Guidelines on the Governance of Shariah Committee for the Islamic Financial Institutions","author":"BNM","year":"2015"},{"key":"key2020092810020658400_ref007","volume-title":"Shariah Standard on Istisna\u02bf","author":"BNM","year":"2015"},{"key":"key2020092810020658400_ref008","volume-title":"Prohibited Business Conduct","author":"BNM","year":"2016"},{"key":"key2020092810020658400_ref009","volume-title":"Shariah Standard on Ijarah","author":"BNM","year":"2016"},{"key":"key2020092810020658400_ref010","unstructured":"Consumer Protection Act (1999), available at: www.aseanconsumer.org\/accp\/download\/Malaysia\/Act%20599%20-%20Consumer%20Protection%20Act%201999.pdf (accessed 1 March 2018)."},{"key":"key2020092810020658400_ref011","unstructured":"Housing Development (Control and Licensing) Act 1966, available at: www.agc.gov.my\/agcportal\/uploads\/files\/Publications\/LOM\/MY\/Act%20118%20diluluskan%20TPPUU.docx.pdf (accessed 1 March 2018)."},{"key":"key2020092810020658400_ref012","unstructured":"Islamic Financial Services Act 2013, available at: www.bnm.gov.my\/documents\/act\/en_ifsa.pdf (accessed 2 March 2018)."},{"key":"key2020092810020658400_ref013","article-title":"Abandoned Housing Projects","author":"KPKT","year":"2017"},{"key":"key2020092810020658400_ref014","volume-title":"Shariah Standard on Murabahah","author":"BNM","year":"2013"},{"key":"key2020092810020658400_ref015","unstructured":"Housing Development (Housing Development Account) (Amendment) Regulations 2015, available at: www.federalgazette.agc.gov.my\/outputp\/pua_20150601_Peraturan-Peraturan%20Pemajuan%20Perumahan%20Pindaan%202015.pdf (accessed 1 March 2018)."},{"key":"key2020092810020658400_ref016","volume-title":"Islamic Legal Maxims and Their Application in Islamic Finance","year":"2013"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-03-2018-0027\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-03-2018-0027\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:47Z","timestamp":1672830347000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-03-2018-0027\/full\/html"}},"issued":{"date-parts":[[2018,6,19]]},"references-count":16,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2018,6,19]]}},"alternative-id":["10.1108\/IJIF-03-2018-0027"],"URL":"https:\/\/doi.org\/10.1108\/ijif-03-2018-0027","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2018,6,19]]}},{"indexed":{"date-parts":[[2026,9,6]],"date-time":"2026-09-06T00:51:54Z","timestamp":1788655914303,"version":"build-2803163510"},"reference-count":79,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2022,4,22]],"date-time":"2022-04-22T00:00:00Z","timestamp":1650585600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,9,5]]},"abstract":"Purpose<\/jats:title>This paper aims to scrutinize the misconceptions about maq\u0101\u1e63id al-Shar\u012b\u02bfah<\/jats:italic> (objectives of Islamic law) that complicate its actualization, particularly in Islamic finance.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>This study adopts a qualitative inductive method to identify the flaws in understanding maq\u0101\u1e63id al-Shar\u012b\u02bfah<\/jats:italic> vis-\u00e0-vis Islamic finance. It uses the views of classical and modern maq\u0101\u1e63id<\/jats:italic> scholars to critically examine the flaws.<\/jats:p><\/jats:sec>Findings<\/jats:title>This study concludes that the five objectives of the Shar\u012b\u02bfah<\/jats:italic> constitute the framework of ma\u1e63la\u1e25ah<\/jats:italic> (well-being). The levels of ma\u1e63la\u1e25ah<\/jats:italic> \u2015 namely \u1e0dar\u016briyy\u0101t<\/jats:italic> (essentials), \u1e25\u0101jiyy\u0101t<\/jats:italic> (needs) and ta\u1e25s\u012bniyy\u0101t<\/jats:italic> (embellishments) \u2015 are the categories of the means to ends. The demand for financial products falls under the \u1e25\u0101jiyy\u0101t<\/jats:italic> and ta\u1e25s\u012bniyy\u0101t<\/jats:italic> categories, not \u1e0dar\u016briyy\u0101t<\/jats:italic>. The maq\u0101\u1e63id<\/jats:italic> (objectives) are derived from a\u1e25k\u0101m<\/jats:italic> (provisions) being verified by the parameters, while a\u1e25k\u0101m<\/jats:italic> are guided by maq\u0101\u1e63id<\/jats:italic>.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This study recommends further research to theorize the concepts of \u1e0dar\u016briyy\u0101t<\/jats:italic>, \u1e25\u0101jiyy\u0101t<\/jats:italic>, ta\u1e25s\u012bniyyat<\/jats:italic> and mukammil\u0101t<\/jats:italic> (complements); to harmonize the maq\u0101\u1e63id<\/jats:italic> with their essential elements and to formulate a conceptual framework for actualizing maq\u0101\u1e63id al-Shar\u012b\u02bfah<\/jats:italic> in Islamic finance.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>This paper will improve perceptions and bridge gaps between the understanding of maq\u0101\u1e63id<\/jats:italic> theory and existing practices. It suggests that instead of \u1e0dar\u016briyy\u0101t<\/jats:italic>, Islamic financial institutions (IFIs) should refer to \u1e25\u0101jiyy\u0101t and ta\u1e25s\u012bniyy\u0101t<\/jats:italic>.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This paper identifies and clarifies the misconceptions about maq\u0101\u1e63id al-Shar\u012b\u02bfah<\/jats:italic> vis-\u00e0-vis Islamic finance in the existing literature. The findings align with the views of leading maq\u0101\u1e63id<\/jats:italic> scholars in understanding the idea.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-12-2020-0259","type":"journal-article","created":{"date-parts":[[2022,4,20]],"date-time":"2022-04-20T11:58:41Z","timestamp":1650455921000},"page":"190-205","source":"Crossref","is-referenced-by-count":15,"title":["Common conceptual flaws in realizing maq\u0101\u1e63id al-Shar\u012b\u02bfah<\/i> vis-\u00e0-vis Islamic finance"],"prefix":"10.55188","volume":"14","author":[{"given":"Ameen Ahmed Abdullah Qasem","family":"Al-Nahari","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-9316-4877","authenticated-orcid":false,"given":"Abu Talib Mohammad","family":"Monawer","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Luqman Bin","family":"Haji Abdullah","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Abdul Karim Bin","family":"Ali","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Noor Naemah Binti","family":"Abdul Rahman","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Meguellati","family":"Achour","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2022,4,22]]},"reference":[{"issue":"2","key":"key2022090206315261700_ref001","doi-asserted-by":"crossref","first-page":"163","DOI":"10.1080\/0959641032000057298","article-title":"Modernity, the principles of public welfare (ma\u1e63la\u1e25a) and the end goals of Shar\u012b\u02bfa (maq\u0101\u1e63id) in Muslim legal thought","volume":"14","year":"2003","journal-title":"Islam and Christian-Muslim Relations"},{"issue":"2","key":"key2022090206315261700_ref002","first-page":"55","article-title":"Contemporary Islamic financing modes between contract technicalities and Shariah objectives","volume":"17","year":"2010","journal-title":"Islamic Economic Studies"},{"issue":"1","key":"key2022090206315261700_ref003","first-page":"5","article-title":"Maq\u0101\u1e63id al-Shar\u012b\u02bfah wa \u02bfAl\u0101qatuh\u0101 bi al-Buy\u016b\u02bf al-Mu\u1e25arramah","volume":"5","year":"2016","journal-title":"International Journal of Islamic Marketing"},{"key":"key2022090206315261700_ref028","volume-title":"Maq\u0101\u1e63id al-Shar\u02bfi bayna al-Ifr\u0101\u1e6d wa al-Tafr\u012b\u1e6d","year":"2007"},{"key":"key2022090206315261700_ref029","article-title":"Maq\u0101\u1e63id al-Shar\u012b\u02bfah f\u012b al-Mu\u02bf\u0101mal\u0101t al-M\u0101liyyah \u02bfinda Ibn Taymiyyah wa Atharuh\u0101 f\u012b al-A\u1e25k\u0101m al-Fiqhiyyati wan Naw\u0101zil al-M\u0101liyyat al-Mu\u02bf\u0101\u1e63arah","year":"1435"},{"key":"key2022090206315261700_ref004","volume-title":"\u1e0caw\u0101bi\u1e6d al-Ma\u1e63la\u1e25ah f\u012b al-Shar\u012b\u02bfah al-Isl\u0101miyyah","year":"1973"},{"key":"key2022090206315261700_ref005","volume-title":"Maq\u0101\u1e63id al-Shar\u012b\u02bfah al-Isl\u0101miyyah wa Mak\u0101rimuh\u0101","year":"1993"},{"key":"key2022090206315261700_ref006","volume-title":"Al-Musta\u1e63f\u0101 f\u012b \u02bfIlm al-U\u1e63\u016bl","year":"1413"},{"key":"key2022090206315261700_ref007","unstructured":"Al-\u1e24u\u1e63ayn, \u1e62.I.\u02bf.R. 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Hypothesized proposed relationships among the constructs were examined by applying the structural equation modeling (SEM) technique through smart partial least squares.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nCompatibility, internal influence, external influence and intrinsic motivation were found to be significant predictors of investors\u2019 BI to invest in \u1e63uk\u016bk<\/jats:italic>. In addition, it was found that the religious aspect not only affects investors\u2019 BI positively but also works as a moderator in the relationships between BI and both internal and external influence.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nThe results are quite helpful for \u1e63uk\u016bk<\/jats:italic> issuers and regulators to consider cognitive, personal and environmental factors that might enhance the adoption of \u1e63uk\u016bk<\/jats:italic>, especially among Muslim investors.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThis study is among the few research studies that shed light on investors\u2019 BI to invest in \u1e63uk\u016bk<\/jats:italic>. Using social cognitive theory, the study investigates the cognitive, personal and environmental factors influencing \u1e63uk\u016bk<\/jats:italic> adoption, which were previously unexplored. In addition, this is the first study that unveils the influential factors of \u1e63uk\u016bk<\/jats:italic> adoption in Pakistan, a Muslim-majority country.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-12-2019-0194","type":"journal-article","created":{"date-parts":[[2020,11,5]],"date-time":"2020-11-05T09:07:33Z","timestamp":1604567253000},"page":"347-365","source":"Crossref","is-referenced-by-count":23,"title":["Evaluating \u1e63uk\u016bk<\/i> investment intentions in Pakistan from a social cognitive perspective"],"prefix":"10.55188","volume":"12","author":[{"given":"Safeer Ullah","family":"Khan","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Ikram Ullah","family":"Khan","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Ismail","family":"Khan","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Saif Ud","family":"Din","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Abid Ullah","family":"Khan","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"issue":"4","key":"key2020122107202070000_ref001","doi-asserted-by":"crossref","first-page":"868","DOI":"10.1016\/j.joep.2012.04.003","article-title":"Information, overconfidence and trading: do the sources of information matter?","volume":"33","year":"2012","journal-title":"Journal of Economic Psychology"},{"issue":"3","key":"key2020122107202070000_ref002","doi-asserted-by":"crossref","first-page":"557","DOI":"10.1111\/j.1540-5915.1997.tb01322.x","article-title":"The role of innovation characteristics and perceived voluntariness in the acceptance of information technologies","volume":"28","year":"1997","journal-title":"Decision Sciences"},{"issue":"1","key":"key2020122107202070000_ref003","doi-asserted-by":"crossref","first-page":"15","DOI":"10.1016\/S0167-9236(97)00006-7","article-title":"The antecedents and consequents of user perceptions in information technology adoption","volume":"22","year":"1998","journal-title":"Decision Support Systems"},{"issue":"3","key":"key2020122107202070000_ref004","doi-asserted-by":"crossref","first-page":"342","DOI":"10.1108\/JIABR-01-2016-0005","article-title":"A qualitative analysis on the determinants of legitimacy of sukuk","volume":"10","year":"2019","journal-title":"Journal of Islamic Accounting and Business Research"},{"key":"key2020122107202070000_ref005","volume-title":"Multiple Regression: Testing and Interpreting Interactions","year":"1991"},{"key":"key2020122107202070000_ref07a","doi-asserted-by":"crossref","first-page":"11","DOI":"10.1007\/978-3-642-69746-3_2","article-title":"From intentions to actions: a theory of planned behavior","volume-title":"Action Control: From Cognition to Behavior","year":"1985"},{"issue":"1","key":"key2020122107202070000_ref006","doi-asserted-by":"crossref","first-page":"234","DOI":"10.1108\/JIMA-02-2018-0029","article-title":"Factors persuade individuals\u2019 behavioral intention to opt for Islamic bank services: Malaysian depositors\u2019 perspective","volume":"11","year":"2019","journal-title":"Journal of Islamic Marketing"},{"issue":"15","key":"key2020122107202070000_ref007","first-page":"395","article-title":"Indonesia students\u2019s intention to invest in sukuk: theory of planned behaviour approach","volume":"14","year":"2017","journal-title":"Int. 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Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2019,6,17]],"date-time":"2019-06-17T00:00:00Z","timestamp":1560729600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,6,17]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to present the viability of unit trust waqf (Islamic endowment) as an alternative asset class for waqf creation.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThis paper starts with the conceptual exploration of the literature in the areas of waqf. The sources of the literature cover authentic sources of the Qur\u02be\u0101n and \u1e25ad\u012bth<\/jats:italic>, as well as secondary sources such as books, journal articles and online resources.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThis paper provides the conceptual framework of five models of unit trust waqf and their investment management parameters.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe novelty of this paper lies in its attempt to highlight the importance of waqf investment strategy in ensuring sustainable returns for waqf. It does so by introducing the conceptual models of unit trust waqf as viable mechanisms to pool more cash waqf from individual investors. The sustainability of the capital waqf assets in the form of unit trusts is maintained through the parameters for its application proposed towards the end of the paper.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-02-2018-0019","type":"journal-article","created":{"date-parts":[[2019,6,26]],"date-time":"2019-06-26T08:22:43Z","timestamp":1561537363000},"page":"62-81","source":"Crossref","is-referenced-by-count":30,"title":["Proposed models for unit trust waqf and the parameters for their application"],"prefix":"10.55188","volume":"11","author":[{"given":"Syahnaz","family":"Sulaiman","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Aznan","family":"Hasan","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Azman","family":"Mohd Noor","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Muhd Issyam","family":"Ismail","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Nazrul Hazizi","family":"Noordin","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"issue":"4","key":"key2020021416293467700_ref001","doi-asserted-by":"crossref","first-page":"304","DOI":"10.1108\/IMEFM-08-2013-0094","article-title":"Financing through cash-waqf: a revitalization to finance different needs","volume":"6","year":"2013","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"key":"key2020021416293467700_ref002","first-page":"109","article-title":"Contemporary waqf administration and development in Singapore: challenges and prospect","volume-title":"Essential Readings in Contemporary Waqf Issues","year":"2011"},{"key":"key2020021416293467700_ref003","volume-title":"Muh\u0101\u1e0dar\u0101t f\u012b al-Waqf","year":"1959"},{"key":"key2020021416293467700_ref004","unstructured":"Ahmad, S. and Muhamed, N.D. 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fund raising through mutual fund in Indonesia","volume-title":"Essential Readings in Contemporary Waqf Issues","year":"2011"},{"key":"key2020021416293467700_ref052","first-page":"43","article-title":"Efficiency and effectiveness of waqf institutions in Malaysia: toward financial sustainability","volume":"1","year":"2015","journal-title":"Bloomsbury Qatar Foundation Journals"},{"issue":"1","key":"key2020021416293467700_ref053","first-page":"1","article-title":"Peranan harta wakaf dalam bidang pembangunan dan pendidikan ummah: fokus dalam bidang perubatan","volume":"3","year":"2009","journal-title":"Jurnal Pengurusan JAWHAR"},{"key":"key2020021416293467700_ref054","first-page":"45","article-title":"Islamic legal ruling on the development of waqf khas land from the Shar\u012b\u02bfah perspective","volume":"1","year":"2008","journal-title":"Jurnal Muamalat"},{"key":"key2020021416293467700_ref055","first-page":"149","article-title":"Issues in developing waqf assets via Islamic real estate investment trusts structure in Malaysia: a review","volume":"2","year":"2012","journal-title":"Jurnal Kanun"},{"key":"key2020021416293467700_ref056","volume-title":"Waqfs and Urban Structures: The Case of Ottoman Damascus","year":"1999"},{"key":"key2020021416293467700_ref057","volume-title":"How the Smart Money Invests: Wise Money: Using the Endowment Investment Approach to Minimize Volatility and Increase Output","year":"2012"},{"key":"key2020021416293467700_ref058","volume-title":"Financial Report 2012-2013","author":"Yale University","year":"2013"},{"key":"key2020021416293467700_ref059","unstructured":"Yang, A. (2014), \u201cPembangunan wakaf (perbadanan wakaf negeri Selangor)\u201d, paper presented at Seminar Waqaf Antarabangsa, 7-10 December, Kuala Lumpur."},{"key":"key2020021416293467700_ref060","volume-title":"Waqf Property Development Transformation Master Plan Study in Malaysia","author":"Yayasan Waqaf Malaysia","year":"2016"},{"issue":"2","key":"key2020021416293467700_ref061","first-page":"55","article-title":"Financing and investment in awqaf projects: a non-technical introduction","volume":"1","year":"1994","journal-title":"Islamic Economic Studies"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2018-0019\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2018-0019\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:56Z","timestamp":1672830356000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2018-0019\/full\/html"}},"issued":{"date-parts":[[2019,6,17]]},"references-count":63,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2019,6,17]]}},"alternative-id":["10.1108\/IJIF-02-2018-0019"],"URL":"https:\/\/doi.org\/10.1108\/ijif-02-2018-0019","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,6,17]]}},{"indexed":{"date-parts":[[2026,8,4]],"date-time":"2026-08-04T06:03:01Z","timestamp":1785823381882,"version":"3.56.0"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2024,3,29]],"date-time":"2024-03-29T00:00:00Z","timestamp":1711670400000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"ABSTRACT\r\nPurpose \u2014 In recent years, economic growth in the West African Economic and Monetary Union (WAEMU) has been positive, but the precariousness of the population has remained virtually unchanged. Thus, the search for inclusive growth should be considered, and that is the subject of this comparative study to determine the contribution of Islamic finance to inclusive growth.\r\nDesign\/Methodology\/Approach \u2014 First, this paper sets up an inclusive growth index to undertake a comparative study between WAEMU countries and North African countries before and after the integration of Islamic finance in order to examine the impact of Islamic finance in these countries. The paper then compares these two areas, WAEMU countries and North African countries, variable-by-variable, using a Student\u2019s t-test over the period 2010\u20132023. The group of North African countries included in this study is found to have a high Islamic finance development indicator compared to the WAEMU zone.\r\nFindings \u2014 The results show that growth is more inclusive in North African countries. However, the lack of data on Islamic financial institutions operating in the countries examined makes it impossible to determine the extent of their contribution to the economies of these countries.\r\nOriginality\/Value \u2014 The studies that have dealt with this topic have been limited to the relationship between finance and the components of inclusive growth. Others have chosen the quality of economic growth as the variable for inclusive growth. However, this study goes beyond that by showing the influence of Islamic finance on an index of inclusive growth that takes into account eight components. This adds value to the existing literature.<\/jats:p>","DOI":"10.55188\/ijif.v16i1.749","type":"journal-article","created":{"date-parts":[[2024,3,29]],"date-time":"2024-03-29T03:49:25Z","timestamp":1711684165000},"page":"4-20","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":2,"title":["Contribution of Islamic Finance to Inclusive Growth: A Comparative Study of the West African Economic and Monetary Union (WAEMU) and North African Countries"],"prefix":"10.55188","volume":"16","author":[{"given":"Ali Bamba","family":"Youssouf","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"El Hachloufi","family":"Mostafa","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2024,3,29]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/749\/461","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/749\/461","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T06:37:03Z","timestamp":1715236623000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/749"}},"issued":{"date-parts":[[2024,3,29]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2024,3,29]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16i1.749","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,3,29]]},"assertion":[{"value":"2020-10-24","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-03-29","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,10,1]],"date-time":"2026-10-01T19:58:38Z","timestamp":1790884718684,"version":"4.1.0"},"reference-count":29,"publisher":"International Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2022,7,1]],"date-time":"2022-07-01T00:00:00Z","timestamp":1656633600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,12,8]]},"abstract":"Purpose<\/jats:title>This study aims to quantify the cost of rebalancing Shar\u012b\u02bfah-compliant indexes, both economically and statistically.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>An empirical approach is employed where the rebalanced Shar\u012b\u02bfah-compliant index is calculated numerous times with different lags in rebalancing, and the number of stocks and their cost across time are determined in order to identify the optimal rebalancing frequency.<\/jats:p><\/jats:sec>Findings<\/jats:title>This paper finds that annual Shar\u012b\u02bfah rebalancing does not lead to significant differences in portfolio returns, even though it does bring some advantages in cumulative wealth starting from the third year onwards and brings about better risk-return characteristics measured in terms of the Sharpe ratio. However, these advantages involve an average annual shifting between 30 and 60% of the portfolio market capitalization, which would be costly at any level of transaction costs.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>A private investor may be better off holding a constant portfolio and only rebalancing in three-year intervals since this was shown to possess similar portfolio returns and cumulative wealth results. Any advantages of annual rebalancing in terms of risk-return characteristics may be offset by transaction costs of rebalancing. Shar\u012b\u02bfah scholars and practitioners are to determine when the correct time for rebalancing really is, taking into consideration the cost of rebalancing vis-\u00e0-vis<\/jats:italic> the advantages in cumulative wealth and risk-return characteristics of the portfolio.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>Predictions that Islamic indexes will perform well during financial crises, such as the COVID-19 pandemic, miss the cost of frequent rebalancing. This paper addresses this issue in an empirical manner learning from the previous crisis in 2008.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-02-2021-0038","type":"journal-article","created":{"date-parts":[[2022,6,29]],"date-time":"2022-06-29T09:40:33Z","timestamp":1656495633000},"page":"241-255","source":"Crossref","is-referenced-by-count":4,"title":["The cost of constituent-rebalancing of Shar\u012b\u02bfah-compliant indexes: lessons for future crises"],"prefix":"10.55188","volume":"14","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-1785-2424","authenticated-orcid":false,"given":"Ahmed","family":"Badreldin","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2022,7,1]]},"reference":[{"issue":"9","key":"key2022120606272180200_ref001","first-page":"145","article-title":"Analyzing performance of Shariah and non-Shariah portfolios during the global financial crisis 2007-2008: Malaysia's experience","volume":"6","year":"2019","journal-title":"International Journal of Innovation, Creativity and Change"},{"key":"key2022120606272180200_ref002","doi-asserted-by":"publisher","first-page":"228","DOI":"10.1016\/j.irfa.2017.06.004","article-title":"Effects of changes in stock index compositions: a literature survey","volume":"52","year":"2017","journal-title":"International Review of Financial Analysis"},{"key":"key2022120606272180200_ref003","doi-asserted-by":"crossref","unstructured":"Alam, N. and Rajjaque, M.S. (2016), \u201cShariah-compliant equities: empirical evaluation of performance in the European market during credit crunch\u201d, in Harrison, T. and Ibrahim, E. (Eds), Islamic Finance, Palgrave Macmillan, Cham, pp.\u00a0122-140, doi: 10.1007\/978-3-319-30918-7_8.","DOI":"10.1007\/978-3-319-30918-7_8"},{"issue":"9\/10","key":"key2022120606272180200_ref004","first-page":"829","article-title":"Islamic mutual funds' financial performance and international investment style: evidence from 20 countries","volume":"17","year":"2011","journal-title":"The European Journal of Finance"},{"issue":"5","key":"key2022120606272180200_ref005","doi-asserted-by":"crossref","first-page":"136","DOI":"10.3905\/jpm.2018.44.5.136","article-title":"Avoiding interest-based revenues while constructing Shariah-compliant portfolios: false negatives and false positives","volume":"44","year":"2018","journal-title":"Journal of Portfolio Management"},{"issue":"2","key":"key2022120606272180200_ref006","doi-asserted-by":"crossref","first-page":"105","DOI":"10.1108\/17538391311329815","article-title":"Performance evaluation of Islamic mutual funds relative to conventional funds: empirical evidence from Saudi Arabia","volume":"6","year":"2013","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"Supplement","key":"key2022120606272180200_ref007","first-page":"77","article-title":"Does the Shariah screening process matter? Evidence from Shariah compliant portfolios","volume":"132","year":"2016","journal-title":"Journal of Economic Behavior and Organization"},{"key":"key2022120606272180200_ref008","doi-asserted-by":"crossref","unstructured":"Ashraf, D., Rizwan, M.S. and Ahmad, G. (2020), \u201cIslamic equity investments and the COVID-19 pandemic\u201d, available at: https:\/\/ssrn.com\/abstract=3611898 (accessed 14 April 2021).","DOI":"10.2139\/ssrn.3611898"},{"key":"key2022120606272180200_ref009","doi-asserted-by":"publisher","first-page":"406","DOI":"10.1016\/j.irfa.2017.12.003","article-title":"Evaluating the Shariah-compliance of equity portfolios: the weighting method matters","volume":"63","year":"2019","journal-title":"International Review of Financial Analysis"},{"key":"key2022120606272180200_ref010","article-title":"How COVID-19 will reshape Islamic finance markets","year":"2020","journal-title":"The Jakarta Post"},{"key":"key2022120606272180200_ref011","unstructured":"Damak, M., Roy, D. and Mensah, S. (2020), \u201cIslamic finance 2020-2021: COVID-19 offers an opportunity for transformative developments\u201d, available at: https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/200615-islamic-finance-2020-2021-covid-19-offers-an-opportunity-for-transformative-developments-11533355 (accessed 14 April 2021)."},{"issue":"4","key":"key2022120606272180200_ref012","doi-asserted-by":"crossref","first-page":"431","DOI":"10.2307\/2676219","article-title":"The effect of green investment on corporate behaviour","volume":"36","year":"2001","journal-title":"The Journal of Financial and Quantitative Analysis"},{"issue":"2","key":"key2022120606272180200_ref013","first-page":"40","article-title":"Impact of inclusion into and exclusion from the Shariah index on stock price and trading volume: an event study approach","volume":"7","year":"2017","journal-title":"International Journal of Economics and Financial Issues"},{"issue":"18","key":"key2022120606272180200_ref014","first-page":"1151","article-title":"Do socially responsible investment indexes outperform conventional indexes?","volume":"22","year":"2012","journal-title":"Applied Financial Economics"},{"issue":"1","key":"key2022120606272180200_ref015","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1080\/1540496X.2016.1234370","article-title":"Issues in Islamic equities: a literature survey","volume":"54","year":"2018","journal-title":"Emerging Markets Finance and Trade"},{"key":"key2022120606272180200_ref016","unstructured":"MSCI (2018), \u201cMSCI index methodology\u201d, available at: https:\/\/www.msci.com\/index-methodology (accessed 14 April 2021)."},{"key":"key2022120606272180200_ref017","unstructured":"MSCI (2020), \u201cMSCI World Index (USD): index fact sheet\u201d, available at: https:\/\/www.msci.com\/documents\/10199\/149ed7bc-316e-4b4c-8ea4-43fcb5bd6523 (accessed 14 April 2021)."},{"issue":"2","key":"key2022120606272180200_ref018","first-page":"14","article-title":"Do changes in index composition affect the stock prices and trading volume? The case of Shariah-compliant index in Malaysia","volume":"24","year":"2016","journal-title":"Capital Markets Review"},{"issue":"1","key":"key2022120606272180200_ref019","doi-asserted-by":"crossref","first-page":"17","DOI":"10.5430\/rwe.v10n1p17","article-title":"Revised Malaysian Shar\u012b\u02bfah screening: its impact on Islamic capital market","volume":"10","year":"2019","journal-title":"Research in World Economy"},{"key":"key2022120606272180200_ref020","volume-title":"Islamic Financial Services","year":"2005"},{"issue":"6","key":"key2022120606272180200_ref021","doi-asserted-by":"crossref","first-page":"1121","DOI":"10.1002\/csr.1526","article-title":"Performance of stock price with changes in SRI governance index","volume":"25","year":"2018","journal-title":"Corporate Social Responsibility and Environmental Management"},{"key":"key2022120606272180200_ref022","article-title":"Global equity views","year":"2020","journal-title":"JP Morgan"},{"key":"key2022120606272180200_ref023","doi-asserted-by":"publisher","DOI":"10.1016\/j.irfa.2019.101377","article-title":"The run-up to the global financial crisis: a longer historical view of financial liberalization, capital inflows, and asset bubbles","volume":"69","year":"2020","journal-title":"International Review of Financial Analysis"},{"issue":"4","key":"key2022120606272180200_ref024","doi-asserted-by":"crossref","first-page":"196","DOI":"10.1016\/j.bir.2014.08.002","article-title":"The diversification benefits from Islamic investment during the financial turmoil: the case for the US-based equity investors","volume":"14","year":"2014","journal-title":"Borsa Istanbul Review"},{"key":"key2022120606272180200_ref025","doi-asserted-by":"crossref","unstructured":"Salem, R. and Badreldin, A. (2014), \u201cAssessing the resilience of Islamic banks: an empirical analysis\u201d, in Ahmed, H., Asutay, M. and Wilson, R. (Eds), Islamic Banking and Financial Crisis: Reputation, Stability and Risks, Edinburgh University Press, Edinburgh, pp.\u00a040-57.","DOI":"10.3366\/edinburgh\/9780748647613.003.0003"},{"issue":"3","key":"key2022120606272180200_ref026","doi-asserted-by":"crossref","first-page":"573","DOI":"10.1108\/JIABR-07-2016-0082","article-title":"The performance of Shar\u012b\u02bfah-compliant companies during and after the recession period \u2013 evidence from companies listed on the FTSE All World Index","volume":"11","year":"2020","journal-title":"Journal of Islamic Accounting and Business Research"},{"key":"key2022120606272180200_ref027","unstructured":"Touiti, M. and Henchiri, J.E. (2018), \u201cRisk and performance of Islamic indexes during subprime crisis\u201d, available at: https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2917060 (accessed 14 April 2021)."},{"key":"key2022120606272180200_ref028","unstructured":"United Nations (2020), \u201cComprehensive and coordinated response to the coronavirus disease (COVID-19) pandemic\u201d, available at: https:\/\/documents-dds-ny.un.org\/doc\/UNDOC\/LTD\/N20\/231\/11\/PDF\/N2023111.pdf?OpenElement (accessed 14 April 2021)."},{"key":"key2022120606272180200_ref029","unstructured":"Welling, J. (2020), \u201cS&P and Dow Jones Islamic indices continue outperformance in Q1 2020\u201d, available at: https:\/\/www.spglobal.com\/en\/research-insights\/articles\/sp-and-dow-jones-islamic-indices-continue-outperformance-in-q1-2020 (accessed 14 April 2021)."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2021-0038\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2021-0038\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:25Z","timestamp":1672830385000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2021-0038\/full\/html"}},"issued":{"date-parts":[[2022,7,1]]},"references-count":29,"journal-issue":{"issue":"3","published-online":{"date-parts":[[2022,7,1]]},"published-print":{"date-parts":[[2022,12,8]]}},"alternative-id":["10.1108\/IJIF-02-2021-0038"],"URL":"https:\/\/doi.org\/10.1108\/ijif-02-2021-0038","ISSN":["0128-1976","2289-4365"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"2289-4365","type":"electronic"}],"published":{"date-parts":[[2022,7,1]]}},{"indexed":{"date-parts":[[2023,5,10]],"date-time":"2023-05-10T04:31:46Z","timestamp":1683693106733},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"DOI":"10.55188\/ijif.v1i2","type":"journal-issue","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:15:45Z","timestamp":1673230545000},"source":"Crossref","is-referenced-by-count":0,"prefix":"10.55188","volume":"2","member":"33484","published-online":{"date-parts":[[2010,6,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,5,10]],"date-time":"2023-05-10T02:16:39Z","timestamp":1683684999000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/issue\/view\/18"}},"issued":{"date-parts":[[2010,6,15]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2010,6,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v1i2","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2010,6,15]]}},{"indexed":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:40:08Z","timestamp":1715910008273},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"4","license":[{"start":{"date-parts":[[2023,12,27]],"date-time":"2023-12-27T00:00:00Z","timestamp":1703635200000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"\u0628\u0633\u0645 \u0627\u0644\u0644\u0647 \u0627\u0644\u0631\u062d\u0645\u0646 \u0627\u0644\u0631\u062d\u064a\u0645\r\n\u00a0In the Name of Allah, Most Gracious, Most Merciful\r\n\u00a0\r\nACADEMIC INTEGRITY\r\nIt is easier to describe academic integrity in terms of what it is not. Plagiarism is often associated with a lack of academic integrity. Lack of academic integrity is also manifested in the use of inaccurate data, misrepresentation of data, and misuse of artificial intelligence (AI) tools for paraphrasing in academic writing.\u00a0\r\nIn an article on \u2018Research Ethics: Decoding Plagiarism and Attribution\u2019, iThenticate describes ten forms of plagiarism and attribution issues as rated by several hundred scientific researchers according to their perceived degree of occurrence and seriousness. Failure to provide accurate citations and not citing a reference when paraphrasing were not the only types of common plagiarism mistakes. Many authors do not realise that reusing work from their own previously published articles without attribution is a case of self-plagiarism. Also, submitting a manuscript to multiple publications, resulting in the same article being published more than once, is a serious violation of research ethics and academic integrity. The latter was ranked second among the most common forms of plagiarism by the iThenticate report. The forms of plagiarism perceived as being most serious include: taking the work of another author and publishing it under one\u2019s own name; verbatim copy-and-paste without proper attribution; providing inaccurate authorship; listing authors who made no contribution to the research; and denying credit to contributing authors.\r\nWhile it is the responsibility of authors to uphold the highest values associated with academic integrity, such as honesty, trust, fairness, respect and responsibility, publishers and journal editors are equally responsible to ensure that submitted manuscripts do not breach academic conduct standards. Plagiarism detection software such as iThenticate or Turnitin is often used to detect the similarity index of the content with other sources, thus helping editors to determine if the content draws significantly from other publications or has been previously published elsewhere, either partly or in a substantially similar form, by the same authors. Submitted articles often have to be passed through such software multiple times and adjusted accordingly to ensure a consistently low similarity level at the different stages of the publication process. Based on the editor\u2019s experience at ISRA International Journal of Islamic Finance (IJIF), it has even been discovered, just as an article is about to be published, that an article of similar content was recently published elsewhere. Therefore, authors have the moral responsibility to explicitly declare if their submission draws from an unpublished conference paper or dissertation work and confirm the originality of their manuscripts. \u00a0\u00a0\r\nFollowing best practices in publishing, IJIF now requests authors to declare each author\u2019s contribution in the work submitted, make a conflict of interest statement, acknowledge any research funding or grant received or any other forms of contribution, and make available a summary of their data which will be provided to readers upon request. This information is now published at the end of each article to meet the standards of publishing ethics. \u00a0\u00a0\u00a0\r\nARTIFICIAL INTELLIGENCE AND ACADEMIC WRITING \r\nWhile technological advances have significantly facilitated the dissemination of research and made accessible a wealth of knowledge to writers, the advent of AI has posed additional challenges to academic integrity principles. Without the facility provided by AI tools, researchers used to make personal efforts and, at best, made use of synonyms to paraphrase others\u2019 work and avoid literal copy-and-paste of texts. AI-powered tools such as plagiarism changers and word\/text spinners can now paraphrase texts and even whole manuscripts while retaining the original ideas and meanings, maintaining coherence and improving language presentation. If ideas are not attributed to the original source through citations, this is still called paraphrasing plagiarism, irrespective of whether the intention was deliberate or unintentional.\r\nPlagiarism software detectors like Turnitin now provide details on the percentage of AI-written content within the similarity report issued for a new submission. In our opinion, a high AI similarity index, say beyond 30 per cent, would mean that it is highly unlikely that the authors have produced an original work. IJIF requests authors to explain a high similarity index for both plagiarism checks and AI-written content.\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\r\nIJIF Volume 15 Number 4 December 2023\r\nThis issue publishes seven articles on various areas of Islamic finance. As the Islamic finance industry is expanding in different jurisdictions, most of these articles cover aspects of Islamic finance development in leading countries such as Malaysia and Indonesia, as well as countries trying to advance Islamic finance such as Uzbekistan and Thailand. The key objectives of these articles are as follows: \u00a0\r\n\r\n\u2018An Exploratory Study of Manfa\u02bfah (Usufruct) in Ij\u0101rah Accounting from the Shar\u012b\u02bfah Perspective\u2019 by Rahmat Ullah, Irum Saba and Riaz Ahmad. This article addresses the Shar\u012b\u02bfah perspectives of treating manfa\u02bfah (usufruct) in the ij\u0101rah (lease) contract as m\u0101l (asset) according to the new standards on leasing issued by the International Accounting Standards Board (IASB) and on ij\u0101rah issued by AAOIFI. It particularly examines the legal status of ownership of usufruct following its treatment as m\u0101l in ij\u0101rah financing.\u00a0\r\n\u2018Viability of Cash Waqf-Linked \u1e62uk\u016bk in Malaysia\u2019 by Sherin Kunhibava, Aishath Muneeza, Zakariya Mustapha, Maryam Khalid and Thong Ming Sen. In view of the successful introduction of cash waqf-linked \u1e63uk\u016bk (CWLS) in Indonesia, this article examines the potential for implementing CWLS by Islamic financial institutions in Malaysia and discusses its viability under the relevant legal and regulatory frameworks of waqf and \u1e63uk\u016bk in the Malaysian context.\r\n\u2018Legal Challenges in Establishing the Islamic Capital Market in Uzbekistan\u2019 by Alam Asadov, Ikhtiyorjon Turaboev \u200eand \u00a0Mohd Zakhiri Md. Nor. The Islamic capital market is yet to be developed in Uzbekistan. This study discusses the possibility of its introduction and investigates the legal barriers impeding the process.\r\n\u2018The Moderator Effects of Owner-Manager Knowledge on the Intention to Adopt Islamic Financing Facilities in Malaysia\u2019 by Hazalina Mat Soha, Mohd Zukime Mat Junoh, Tunku Salha Tunku Ahmad and Md. Aminul Islam. This article assesses the role of owner-manager knowledge as a moderating factor in the relationship between innovation, organisational and environmental characteristics, and the intention to adopt Islamic financing facilities in the context of Malaysia.\r\n\u2018Investigating Equity-Based Financing and Debt-Based Financing in Islamic Banks in Indonesia\u2019 by Hasan Mukhibad and Doddy Setiawan. Using data over the period 2009\u20132019, this article investigates whether equity-based financing as practised by Islamic banks in Indonesia generates fixed income similar to debt-based financing.\r\nFactors Influencing Thai Muslims\u2019 Willingness to Donate Cash Waqf to Religious Projects by Aris Hassama and Nor Asmat Ismail. This study looks into the motivational and economic factors that positively impact the willingness of cash waqf donors in the southernmost provinces of Thailand to donate to religious projects.\r\n\u2018Exploration of a New Zakat Management System Empowered by Blockchain Technology in Malaysia\u2019 by Amelia Nur Natasha Nazeri, Shifa Mohd Nor, Aisyah Abdul-Rahman, Mariani Abdul-Majid and Siti Ngayesah Ab. Hamid. This article seeks to examine how the proposed implementation of blockchain technology in the current zakat management system in Malaysia would work and how it would help improve efficiency in the zakat collection and distribution process.\u00a0\r\n\r\nWe congratulate the authors for the successful publication of their articles and wish our readers a pleasant read. \u00a0\r\nAllah (SWT) is the Bestower of success, and He knows best.\r\n\u00a0Beebee Salma SairallyISRA Research Management Centre, INCEIF University, Malaysia<\/jats:p>","DOI":"10.55188\/ijif.v15i4.687","type":"journal-article","created":{"date-parts":[[2023,12,27]],"date-time":"2023-12-27T14:25:40Z","timestamp":1703687140000},"page":"1-3","update-policy":"http:\/\/dx.doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"15","author":[{"given":"Beebee Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2023,12,27]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/687\/447","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/687\/447","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:25:05Z","timestamp":1715909105000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/687"}},"issued":{"date-parts":[[2023,12,27]]},"references-count":0,"journal-issue":{"issue":"4","published-online":{"date-parts":[[2023,12,27]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i4.687","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,12,27]]},"assertion":[{"value":"2023-12-27","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-12-27","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:05:39Z","timestamp":1672898739535},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,12]]},"DOI":"10.12816\/0002750","type":"journal-article","created":{"date-parts":[[2014,7,6]],"date-time":"2014-07-06T11:02:24Z","timestamp":1404644544000},"page":"119-140","source":"Crossref","is-referenced-by-count":0,"title":["The Case for Receivables Based \u1e62uk\u016bk : Convergence between the Malaysian and Global Shar\u012b\u02bbah Standards on Bay\u02b9 Al-Dayn ?"],"prefix":"10.55188","volume":"4","author":[{"given":"Rafe","family":"Haneef","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:19Z","timestamp":1672830319000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42562"}},"issued":{"date-parts":[[2012,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2012,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0002750","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,12]]}},{"indexed":{"date-parts":[[2025,10,6]],"date-time":"2025-10-06T18:27:32Z","timestamp":1759775252980},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2023,6,23]],"date-time":"2023-06-23T00:00:00Z","timestamp":1687478400000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 This study aims to examine Islamic cryptocurrencies and their dependency on foreign exchange markets in vine copula architecture (CD-Vine) and provide a framework for detecting complex dependence structures, risk management implications, and hedging effectiveness.\r\nDesign\/Methodology\/Approach \u2014 This study used gold-backed cryptocurrencies and three fiat currencies. The vine copula approach was preferred because it applies several distributions and estimates complex dependencies. Hedging effectiveness was measured by constructing simulation-based portfolios optimised with DCC-t-Copula. Benford\u2019s law and realized variance were used to determine the stability of Islamic cryptocurrencies.\r\nFindings \u2014 According to C-Vine and D-Vine copula models, paper money has a weak tail dependence with gold-backed cryptocurrencies. Only OneGram coin, whose volatility matched the risk of Bitcoin, showed zero irregularities in volume trading. The findings were robust to different estimations based on Minimum Spanning Tree and Dendrogram.\r\nOriginality\/Value \u2014 This is the first study to examine Islamic cryptocurrencies\u2019 stability and the significance of hedging effectiveness on gold-backed cryptocurrencies under a copula-based approach.\r\nResearch Limitations \u2014 The study did not apply time-varying vine copula.\r\nPractical Implications \u2014 The risk management perspective shows insignificant hedge effectiveness in the portfolio of fiat and gold-backed cryptocurrencies.<\/jats:p>","DOI":"10.55188\/ijif.v15i2.543","type":"journal-article","created":{"date-parts":[[2023,6,23]],"date-time":"2023-06-23T01:55:39Z","timestamp":1687485339000},"page":"80-97","update-policy":"http:\/\/dx.doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":4,"title":["The Stability of Islamic Cryptocurrencies and Copula-Based Dependence with Alternative Crypto and Fiat Currencies"],"prefix":"10.55188","volume":"15","author":[{"given":"Bayu Adi","family":"Nugroho","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2023,6,23]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/543\/423","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/543\/423","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:29:05Z","timestamp":1715909345000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/543"}},"issued":{"date-parts":[[2023,6,23]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2023,6,13]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i2.543","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,6,23]]},"assertion":[{"value":"2023-06-23","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-06-23","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,9,29]],"date-time":"2026-09-29T22:21:44Z","timestamp":1790720504744,"version":"4.1.0"},"reference-count":44,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2019,12,9]],"date-time":"2019-12-09T00:00:00Z","timestamp":1575849600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,12,9]]},"abstract":"\nPurpose<\/jats:title>\nThe purpose of this paper is to unearth the factors inhibiting the development of zakat (the Islamic obligatory alms) and waqf (endowment) institutions in Northern Nigeria, with the aim of proffering appropriate solutions.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThis paper uses a qualitative research methodology whereby data was sourced from relevant stakeholders in Northern Nigeria. To select the appropriate interviewees, maximum variation and homogenous purposeful sampling techniques were used.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe findings of the paper show that zakat and waqf institutions in Northern Nigeria have not achieved their inherent Shar\u012b\u02bfah objectives because members of the public have little or no trust or confidence in the institutions. Also, the potential zakat payers and waqf donors dislike political office holders\u2019 involvement in the appointment of the institutions\u2019 administrators. Finally, the administrators lack adequate managerial and administrative knowledge of the two institutions.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThe current research focusses on causes of low performance of zakat and waqf institutions solely in Northern Nigeria. It is envisaged that subsequent researchers may conduct research on the possibility of having a federal law that will strengthen the overall establishment and development of zakat and waqf in Nigeria. This will affect both Muslim-majority and Muslim-minority communities.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThis paper represents a referenceable work in the field of zakat and waqf in Northern Nigeria, as it uses an approach that sources primary data in the form of participants\u2019 point of view instead of relying on literature or document analysis. It is not a mere theoretical study of the literature but an empirical investigation of the problem.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-04-2018-0044","type":"journal-article","created":{"date-parts":[[2019,11,13]],"date-time":"2019-11-13T15:14:40Z","timestamp":1573658080000},"page":"338-356","source":"Crossref","is-referenced-by-count":37,"title":["An empirical study of the challenges facing zakat and waqf institutions in Northern Nigeria"],"prefix":"10.55188","volume":"11","author":[{"given":"Mahadi","family":"Ahmad","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2019120915143400400_ref001","article-title":"Al-Ma\u02bf\u016bnah \u02bfal\u0101 madh.hab \u02bf\u0100lim al-Mad\u012bnah","volume-title":"al-Maktabah al-Tij\u0101riyyah","year":"2019","edition":"Ed."},{"key":"key2019120915143400400_ref002","unstructured":"Abdullahi, S. (2019), \u201cHow waqf, zakat can boost infrastructural needs of Nigeria\u201d, available at: https:\/\/guardian.ng\/features\/friday-worship\/how-waqf-zakat-can-boost-infrastructural-needs-of-nigeria\/ (accessed 16 September 2019)."},{"issue":"4","key":"key2019120915143400400_ref003","first-page":"25","article-title":"Zakat and poverty alleviation: a lesson for the fiscal policy makers in Nigeria","volume":"7","year":"2011","journal-title":"Journal of Islamic Economics, Banking and Finance"},{"key":"key2019120915143400400_ref004","unstructured":"Ahmad, M. (2016), \u201cA socio-legal study of zakah and waqf as instruments for poverty alleviation in Northern Nigeria with reference to Malaysia and Kuwait\u201d, PhD thesis, International Islamic University Malaysia, Malaysia."},{"key":"key2019120915143400400_ref005","volume-title":"The Dynamics of Policy Implementation in Nigeria: The Case of Sokoto State","year":"2010"},{"key":"key2019120915143400400_ref006","volume-title":"\u1e62a\u1e25\u012b\u1e25 al-Bukh\u0101r\u012b, D\u0101r al-Sha\u02bfb","year":"1987"},{"key":"key2019120915143400400_ref007","volume-title":"\u1e62a\u1e25\u012b\u1e25 al-Bukh\u0101r\u012b","year":"1422"},{"key":"key2019120915143400400_ref008","unstructured":"Aliyu, S.U.R. (2018), \u201cA treatise on socioeconomic roles of waqf\u201d, MPRA Paper No. 91413. Germany, available at: https:\/\/mpra.ub.uni-muenchen.de\/91413\/1\/MPRA_paper_91413.pdf (accessed 16 September 2019)."},{"key":"key2019120915143400400_ref009","doi-asserted-by":"publisher","first-page":"305","DOI":"10.1016\/j.sbspro.2014.11.081","article-title":"Zakah on employment income in Muslim majority states of Nigeria: any cause for alarm?","volume":"164","year":"2014","journal-title":"Procedia \u2013 Social and Behavioral Sciences"},{"key":"key2019120915143400400_ref010","volume-title":"Constructing Grounded Theory: A Practical Guide through Qualitative Analysis","year":"2006"},{"key":"key2019120915143400400_ref011","volume-title":"Qualitative Inquiry and Research Design: Choosing among Five Approaches","year":"2006","edition":"2nd ed."},{"key":"key2019120915143400400_ref012","volume-title":"Educational Research: Planning, Conducting, and Evaluating Quantitative and Qualitative Research","year":"2012","edition":"4th ed."},{"key":"key2019120915143400400_ref013","unstructured":"Encyclopaedia Britannica (2019), \u201cFulani\u201d, available at: www.britannica.com\/search?query=fulani+ (accessed 20 April 2015)."},{"issue":"12","key":"key2019120915143400400_ref014","doi-asserted-by":"crossref","first-page":"1435","DOI":"10.2903\/j.efsa.2009.1435","article-title":"General principles for the collection of national food consumption data in the view of a pan-European dietary survey","volume":"7","author":"European Food Safety Authority","year":"2009","journal-title":"EFSA Journal"},{"key":"key2019120915143400400_ref015","year":"2015"},{"issue":"1","key":"key2019120915143400400_ref016","doi-asserted-by":"publisher","first-page":"1","DOI":"10.21043\/qijis.v1i1.3278","article-title":"Taming poverty in Nigeria: language, zakat and national development","volume":"6","year":"2018","journal-title":"Qudus International Journal of Islamic Studies"},{"key":"key2019120915143400400_ref017","unstructured":"Hasan, ISa-M. (2012), \u201cBank tanmiyat al-Awq\u0101f: Mawl\u016bd jadid f\u012b al-Man\u1e93\u016bmah al-Bankiyyah al-\u02bf\u0100lamiyyah (awq\u0101f development bank: a new birth in the global banking structure)\u201d, IRTI, Jeddah, available at: www.irti.org\/English\/Pages\/Publications.aspx?pid=1208 (accessed 22 September 2019)."},{"key":"key2019120915143400400_ref018","volume-title":"al-Bay\u0101n wa al-Ta\u1e25\u1e63\u012bl","year":"2019"},{"issue":"1","key":"key2019120915143400400_ref019","doi-asserted-by":"crossref","first-page":"24","DOI":"10.1108\/IJOES-06-2018-0090","article-title":"A comprehensive review of barriers to a functional zakat system in Nigeria","volume":"35","year":"2019","journal-title":"International Journal of Ethics and Systems"},{"key":"key2019120915143400400_ref020","unstructured":"JAWHAR (2019), \u201cIntroduction Jawhar\u201d, available at: www.jawhar.gov.my\/index.php\/en\/department-profile\/about-jawhar (accessed 20 October 2018)."},{"key":"key2019120915143400400_ref021","author":"Kogi","year":"2015"},{"key":"key2019120915143400400_ref022","first-page":"58","article-title":"Zakat and endowment: significant tools for society\u2019s welfare in Sokoto State, Nigeria","volume-title":"E-Book of Masjid, Zakat and Waqf Management","year":"2018"},{"key":"key2019120915143400400_ref023","year":"2015"},{"key":"key2019120915143400400_ref024","year":"2015"},{"key":"key2019120915143400400_ref025","unstructured":"National Bureau of Statistics (2012), \u201cNigeria poverty profile 2010\u201d, Report of the National Bureau of Statistics, Nigeria."},{"key":"key2019120915143400400_ref026","volume-title":"A Framework for Analysis of Islamic Endowment (Waqf) Laws","year":"2014"},{"key":"key2019120915143400400_ref027","first-page":"5","article-title":"Private property rights and compulsory acquisition process in Nigeria: the past, present and future","volume":"3","year":"2012","journal-title":"Acta Universitatis Danubius. Juridica"},{"key":"key2019120915143400400_ref028","volume-title":"Shariah Implementation in the Northern Nigeria 1999-2000: A Source Book","year":"2007"},{"key":"key2019120915143400400_ref029","volume-title":"Qualitative Research: Data Collection and Data Analysis","year":"2008"},{"key":"key2019120915143400400_ref030","volume-title":"Interviewed by Ahmad, M. on 25 May 2015, Pangsapuri, Mutiara Gombak","year":"2015"},{"issue":"2","key":"key2019120915143400400_ref031","first-page":"126","article-title":"Faith-based model as a policy response to the actualisation of the millennium development goals in Nigeria","volume":"26","year":"2010","journal-title":"Humanomics"},{"key":"key2019120915143400400_ref032","volume-title":"Certain Legal and Administrative Measures for the Revival and Better Management of Awq\u0101f","year":"2011"},{"issue":"4","key":"key2019120915143400400_ref033","first-page":"1","article-title":"Advantages and disadvantages of four interview techniques in qualitative research","volume":"7","year":"2006","journal-title":"Forum: Qualitative Social Research"},{"key":"key2019120915143400400_ref034","volume-title":"Qualitative Research from Start to Finish","year":"2011"},{"key":"key2019120915143400400_ref035","year":"2015"},{"key":"key2019120915143400400_ref036","year":"2015"},{"key":"key2019120915143400400_ref037","volume-title":"Handbook for Synthesising Qualitative Research","year":"2007"},{"key":"key2019120915143400400_ref038","year":"2015"},{"key":"key2019120915143400400_ref039","article-title":"Waqf finance for micro projects","volume":"27","year":"2014","journal-title":"Journal of Awqaf"},{"key":"key2019120915143400400_ref040","year":"2015"},{"key":"key2019120915143400400_ref041","year":"2015"},{"key":"key2019120915143400400_ref042","unstructured":"Zakat, M. (2019), \u201cBankislam.com.my\u201d, available at: www.bankislam.com.my\/home\/maklumat-Zakat\/. (accessed 1 August 2015)."},{"key":"key2019120915143400400_ref043","year":"2015"},{"key":"key2019120915143400400_ref044","first-page":"3085","article-title":"The economic significance of the zakat system: an exploratory analysis of its fiscal characteristics","volume":"36","year":"2011","journal-title":"Elixir International Journal"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-04-2018-0044\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-04-2018-0044\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:02Z","timestamp":1672830362000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-04-2018-0044\/full\/html"}},"issued":{"date-parts":[[2019,12,9]]},"references-count":44,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2019,12,9]]}},"alternative-id":["10.1108\/IJIF-04-2018-0044"],"URL":"https:\/\/doi.org\/10.1108\/ijif-04-2018-0044","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,12,9]]}},{"indexed":{"date-parts":[[2026,4,24]],"date-time":"2026-04-24T18:11:30Z","timestamp":1777054290108,"version":"3.51.4"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"S1","license":[{"start":{"date-parts":[[2024,5,6]],"date-time":"2024-05-06T00:00:00Z","timestamp":1714953600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 Waqf unit trust funds are a form of value-based impact investing that combines financial investment with philanthropic goals through waqf (Islamic endowment). This study uses the theory of planned behaviour (TPB) to investigate the factors that influence people\u2019s intentions to participate in waqf unit trust funds in Malaysia. Furthermore, the study investigates the function of religion as a moderator in predicting an individual\u2019s intention to engage in waqf unit trust funds.\nDesign\/Methodology\/Approach \u2014 Four hundred and four completed survey questionnaires have been obtained. Descriptive analysis and Partial Least Square\u2013Structural Equation Modelling (PLS-SEM) are performed to analyse the data.\nFindings \u2014 The findings show that an individual\u2019s intention to engage in waqf unit trust funds is influenced by attitude, subjective norms, perceived behaviour control, and moral norms. Furthermore, religiosity influences the relationship between moral norms and the intention to join in waqf unit trust funds.\nResearch Implications and Limitations \u2014 Findings from this study which focuses on Muslims\u2019 involvement in recently established waqf unit trust funds can be used by the waqf unit trust managers in Malaysia to develop appropriate marketing strategies in encouraging Muslim participation in waqf unit trust funds. Participation in waqf unit trusts is not limited to Muslims; hence, future studies can be conducted to cover a wider base of respondents among non-Muslims.<\/jats:p>","DOI":"10.55188\/ijif.v16is1.517","type":"journal-article","created":{"date-parts":[[2024,5,6]],"date-time":"2024-05-06T12:56:28Z","timestamp":1715000188000},"page":"24-45","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":5,"title":["Philanthropic Impact of Investing Via Waqf-Featured Unit Trust Funds: Determinant Factors Influencing the Participation in Waqf Unit Trust Funds in Malaysia"],"prefix":"10.55188","volume":"16","author":[{"given":"Syahnaz","family":"Sulaiman","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Syadiyah","family":"Abdul Shukor","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Amalina","family":"Mursidi","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Muhammad Ridhwan","family":"Ab Aziz","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2024,5,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/517\/475","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/517\/475","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T06:34:12Z","timestamp":1715236452000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/517"}},"issued":{"date-parts":[[2024,5,6]]},"references-count":0,"journal-issue":{"issue":"S1","published-online":{"date-parts":[[2024,5,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16is1.517","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,5,6]]},"assertion":[{"value":"2023-03-11","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-05-06","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-03-11","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,2,11]],"date-time":"2026-02-11T20:14:24Z","timestamp":1770840864646,"version":"3.50.1"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"4","license":[{"start":{"date-parts":[[2023,12,27]],"date-time":"2023-12-27T00:00:00Z","timestamp":1703635200000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 Muslim communities in Thailand have lately used cash waqf as a creative strategy to raise seed money from Muslim contributors to implement religious projects such as building religious institutions like mosques and Islamic schools. The factors influencing this unique kind of giving have, to date, rarely been studied. This research attempts to examine the motivational and economic elements that impact people\u2019s willingness to donate (WTD) cash waqf to such religious projects.\nDesign\/Methodology\/Approach \u2014 The study utilised a Contingent Valuation Method (CVM) and an ordinal logistic regression method to examine the effects of various independent variables on the WTD. A validated structured questionnaire was utilised to collect primary data from 404 cash waqf donors in the southernmost provinces of Thailand.\nFindings \u2014 When comparing donors with medium income levels to those with higher salary levels, the findings show that donors in the higher salary category were more likely to generate a higher WTD propensity. The probability of donors\u2019 WTD was positively influenced by any reductions in debt levels. Furthermore, factors such as belief in the afterlife, the salience of one\u2019s Muslim identity, and the experience of a warm glow were found to have a positive impact on individuals\u2019 WTD cash waqf to religious projects.\nOriginality\/Value \u2014 This study utilised the Contingent Valuation Method (CVM) to examine the cash waqf practices, which has received limited attention in previous scholarly works. Furthermore, the variables employed in this research serve to broaden the scope of understanding in the realm of Islamic philanthropy, surpassing the confines of the attitude-intention framework.\nResearch Limitations\/Implications \u2014 The factors used in this study encompass the internal drives of potential donors. In reality, a number of external circumstances, such as the validity of the waqf project and the donor\u2019s accessibility to other options, may have an impact on the donor\u2019s choice. Additionally, the scope of this study was restricted to the southern border provinces of Thailand. It would be of interest to conduct additional research that broadens the sample size and geographical scope to include other regions within the country or even other countries with diverse cultural and socioeconomic contexts. This would enable the generalisation of the findings obtained from this study.\nPractical Implications \u2014 Waqf fundraising organisations should focus on boosting awareness among high-income, low-debt people. This population group donates more than middle- and lower-class people. Mosques and religious organisations can use a strategy to help donors reassess the spiritual benefits of waqf giving in relation to the afterlife, the reinforcement of their Muslim identity, and the emotional satisfaction of giving. These motivators will increase the likelihood of mosque donations.<\/jats:p>","DOI":"10.55188\/ijif.v15i4.518","type":"journal-article","created":{"date-parts":[[2023,12,27]],"date-time":"2023-12-27T15:18:37Z","timestamp":1703690317000},"page":"104-126","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":5,"title":["Factors Influencing Thai Muslims' Willingness to Donate Cash Waqf to Religious Projects"],"prefix":"10.55188","volume":"15","author":[{"given":"Aris","family":"Hassama","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"family":"Nor Asmat Ismail","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2023,12,27]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/518\/453","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/518\/453","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:24:25Z","timestamp":1715909065000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/518"}},"issued":{"date-parts":[[2023,12,27]]},"references-count":0,"journal-issue":{"issue":"4","published-online":{"date-parts":[[2023,12,27]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i4.518","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,12,27]]},"assertion":[{"value":"2023-03-29","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-12-27","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-12-27","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T07:02:55Z","timestamp":1672902175394},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2022,5,20]],"date-time":"2022-05-20T00:00:00Z","timestamp":1653004800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,5,20]]},"DOI":"10.1108\/ijif-06-2022-257","type":"journal-article","created":{"date-parts":[[2022,5,21]],"date-time":"2022-05-21T15:38:38Z","timestamp":1653147518000},"page":"2-3","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"14","author":[{"given":"Beebee Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2022,5,20]]},"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-06-2022-257\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-06-2022-257\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:20Z","timestamp":1672830380000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-06-2022-257\/full\/html"}},"issued":{"date-parts":[[2022,5,20]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2022,5,20]]},"published-print":{"date-parts":[[2022,5,20]]}},"alternative-id":["10.1108\/IJIF-06-2022-257"],"URL":"https:\/\/doi.org\/10.1108\/ijif-06-2022-257","ISSN":["0128-1976","2289-4365"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"2289-4365","type":"print"}],"published":{"date-parts":[[2022,5,20]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:05:39Z","timestamp":1672898739546},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,12]]},"DOI":"10.12816\/0002747","type":"journal-article","created":{"date-parts":[[2014,7,6]],"date-time":"2014-07-06T11:02:24Z","timestamp":1404644544000},"page":"25-52","source":"Crossref","is-referenced-by-count":11,"title":["Unsustainability of the Regime of Interest-Based Debt Financing"],"prefix":"10.55188","volume":"4","author":[{"given":"Abbas","family":"Mirakhor","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Noureddine","family":"Krichene","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mughees","family":"Shaukat","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:21Z","timestamp":1672830321000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42558"}},"issued":{"date-parts":[[2012,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2012,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0002747","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,12]]}},{"indexed":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T06:10:59Z","timestamp":1673244659138},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2012,6,15]],"date-time":"2012-06-15T00:00:00Z","timestamp":1339718400000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"abstract":"The term \u2018relationship marketing\u2019 has grown to become a popular subject in the marketing literature over the last three decades. The literature indicates the significance of maintaining long-term relationship with customers, especially these days. The questions that then arise are: what are the antecedents that significantly contribute to building and maintaining a long-term buyer-seller relationship, and what are the outcomes of a strong buyer-seller relationship? Discussions of relationship marketing have even gained popularity in the Asian literature since 2000; yet research conducted on the issue of Malaysian Islamic financial institutions is very scarce. The existence of a gap in the Asian literature on this topic has led the researchers to develop a suitable theoretical framework of Islamic relationship marketing for Islamic financial institutions, particularly the tak\u0101ful industry. The study expects that the framework of Islamic relationship marketing will be a reference material for players in the tak\u0101ful industry in strengthening their relationship with their customers. Indeed, a strong agent-customer relationship will ensure the development of the tak\u0101ful industry in the future.<\/jats:p>","DOI":"10.55188\/ijif.v4i1.114","type":"journal-article","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:34:30Z","timestamp":1673231670000},"page":"81-97","source":"Crossref","is-referenced-by-count":0,"title":["Building Agent-Customer Relationship in the Tak\u0101ful Industry: A Framework of Islamic Relationship Marketing"],"prefix":"10.55188","volume":"4","author":[{"given":"Marhanum","family":"Che Mohd Salleh","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Nurdianawati Irwani","family":"Abdullah","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Siti Salwani","family":"Razali","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2012,6,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/download\/114\/107","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/download\/114\/107","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:34:31Z","timestamp":1673231671000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/view\/114"}},"issued":{"date-parts":[[2012,6,15]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2012,6,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v4i1.114","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,6,15]]}},{"indexed":{"date-parts":[[2026,7,31]],"date-time":"2026-07-31T14:02:41Z","timestamp":1785506561756,"version":"3.56.0"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2024,6,28]],"date-time":"2024-06-28T00:00:00Z","timestamp":1719532800000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 This paper aims to propose a framework of Islamic estate planning of crypto assets in Malaysia.\nDesign\/Methodology\/Approach \u2014 The paper used an interview method to obtain information related to Islamic estate planning of crypto assets. Semi-structured interviews were conducted with informants of five different backgrounds including lawyers, estate planners, Shar\u012b\u02bfah experts, digital asset exchange (DAX) operators, and crypto owners. The data gathered was analysed using thematic analysis to construct the framework of Islamic estate planning of crypto assets.\nFindings \u2014 The paper identifies important prerequisites of Islamic estate planning of crypto assets. Further, a framework of estate planning of crypto assets is developed based on the information gathered from all related stakeholders. It is posited that the Securities Commission Malaysia (SC) has a vital role to play in safeguarding the financial interests of digital asset holders and their beneficiaries and that implementation of this framework would align with and uphold the objectives of Shar\u012b\u02bfah (maq\u0101\u1e63id al-Shar\u012b\u02bfah).\nOriginality\/Value \u2014 This paper presents a framework of Islamic estate planning of crypto assets, it being one of the first studies to do so from the Islamic perspective, which is not only useful and relevant for Malaysians (Muslims) but also for other countries.\nResearch Limitations\/Implications \u2014 The first limitation of the paper is that the framework is developed based on a qualitative method. There is no evidence of its validity, which is a gap that can be explored in the future. Second, it involves the perceptions of five types of respondents, which may be broadened to other related stakeholders such as regulators\u2014i.e., Securities Commissions or any ministries\u2014in future studies.<\/jats:p>","DOI":"10.55188\/ijif.v16i2.713","type":"journal-article","created":{"date-parts":[[2024,6,28]],"date-time":"2024-06-28T14:13:58Z","timestamp":1719584038000},"page":"45-64","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":5,"title":["A Proposed Framework of Islamic Inheritance and Estate Planning of Digital Assets: The Malaysian Case of Crypto Assets"],"prefix":"10.55188","volume":"16","author":[{"given":"Norazlina","family":"Abd Wahab","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Norliza","family":"Katuk","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mohammad Azam","family":"Hussain","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Zairy","family":"Zainol","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Selamah","family":"Maamor","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Nur Syaedah","family":"Kamis","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2024,6,28]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/713\/483","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/713\/483","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,6,30]],"date-time":"2024-06-30T14:33:47Z","timestamp":1719758027000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/713"}},"issued":{"date-parts":[[2024,6,28]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2024,6,28]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16i2.713","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,6,28]]},"assertion":[{"value":"2024-01-22","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-06-28","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-06-26","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T02:14:11Z","timestamp":1715912051754},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2023,3,6]],"date-time":"2023-03-06T00:00:00Z","timestamp":1678060800000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Historical Review of IJIF\r\nThis year we celebrate 15 years since the launch of ISRA International Journal of Islamic Finance (IJIF). IJIF started in 2009 under the ownership and management of the International Shari\u2019ah Research Academy for Islamic Finance (ISRA) with the vision to promote further innovation in the Islamic finance industry and academia by providing a platform for publishing high quality research in the areas of Islamic banking, economics, finance, law and tak\u0101ful. ISRA initially published two issues of the Journal per annum in hard copies. Three types of articles were considered: articles of academic rigour, articles by practitioners who have experience in applied Islamic finance, and the research works carried out by ISRA researchers under the heading \u2018Research Notes\u2019.<\/jats:p>","DOI":"10.55188\/ijif.v15i1.481","type":"journal-article","created":{"date-parts":[[2023,3,6]],"date-time":"2023-03-06T01:23:58Z","timestamp":1678065838000},"page":"1-3","update-policy":"http:\/\/dx.doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"15","author":[{"given":"Beebee Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2023,3,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:34:16Z","timestamp":1715909656000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/481"}},"issued":{"date-parts":[[2023,3,6]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2023,3,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i1.481","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,3,6]]},"assertion":[{"value":"2023-03-06","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-03-06","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2024,4,25]],"date-time":"2024-04-25T07:45:02Z","timestamp":1714031102224},"reference-count":50,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2018,10,18]],"date-time":"2018-10-18T00:00:00Z","timestamp":1539820800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2018,12,10]]},"abstract":"\nPurpose<\/jats:title>\nThis study aims to offer a new area of discourse by investigating the factors determining the usage of the Islamic non-bank financing product ar-rahnu<\/jats:italic> (Islamic pawnbroking) among women micro-entrepreneurs in Malaysia within the framework of the informal credit market theory.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe study is based on primary data obtained by using self-administered questionnaires distributed in three states in Malaysia: Kedah, Kelantan and Terengganu. The questionnaires were distributed to a total of 750 participants, with each state contributing 250 respondents. Total number of respondents valid for data analysis was however 600.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nBased on descriptive and inferential statistics by using the IBM statistical package for the social sciences and structural equation modelling analysis of moment structures, the results show that the main factor influencing women micro-entrepreneurs to use ar-rahnu<\/jats:italic> is the service charge.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThis study only covers three states in Malaysia and is limited to examining the use of ar-rahnu<\/jats:italic> by women micro-entrepreneurs in those states.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nAs micro-entrepreneur s often face constraints to obtaining financial access in the formal credit market, ar-rahnu<\/jats:italic> provides an alternative mode of obtaining business financing to female micro-entrepreneurs, so they can sustain their operations and even expand their businesses. The significance of such factors like service fee, as revealed in this study, indicates that managers should focus on this element when offering Islamic financial products, especially to women micro-entrepreneurs.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe informal credit market theory is frequently used in conventional studies. This paper adds Shar\u012b\u02bfah compliance in the context of this theory as a new area to be considered when discussing Islamic financial products.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-09-2017-0031","type":"journal-article","created":{"date-parts":[[2018,10,18]],"date-time":"2018-10-18T12:59:40Z","timestamp":1539867580000},"page":"237-250","source":"Crossref","is-referenced-by-count":1,"title":["Analysing ar-rahnu<\/i> in the context of informal credit market theory"],"prefix":"10.55188","volume":"10","author":[{"given":"Nik Hadiyan","family":"Nik Azman","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Salina","family":"Kassim","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Adewalee Abideen","family":"Adeyemi","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2018,10,18]]},"reference":[{"issue":"3","key":"key2021041507175165300_ref001","first-page":"221","article-title":"Critical appraisal of rahn-based Islamic microcredit facility from Shar\u012b\u02bfah perspective","volume":"7","year":"2013","journal-title":"Advances in Natural and Applied Sciences"},{"key":"key2021041507175165300_ref002","unstructured":"Abdul Razak, A. (2011), \u201cEconomic and religious significance of the Islamic and conventional pawnbroking in Malaysia: behavioural and perception analysis\u201d, doctoral thesis, Durham University, Durham."},{"issue":"6","key":"key2021041507175165300_ref003","first-page":"29","article-title":"Customer satisfaction towards Islamic pawnbroking (ar-rahnu): antecedents and consequences","volume":"2","year":"2013","journal-title":"Global Journal of Commerce and Management Perspectives"},{"issue":"10","key":"key2021041507175165300_ref006","first-page":"748","article-title":"Customer acceptance on Islamic pawn broking: a Malaysian case","volume":"3","year":"2012","journal-title":"Interdisciplinary Journal of Contemporary Research in Business"},{"issue":"3","key":"key2021041507175165300_ref004","first-page":"63","article-title":"Modelling ar-rahnu use in Eastern Malaysia: perspectives of Muslimah","volume":"7","year":"2011","journal-title":"Journal of Islamic Economics, Banking and Finance"},{"issue":"1","key":"key2021041507175165300_ref005","first-page":"82","article-title":"An ar-rahnu shop acceptance model (ARSAM)","volume":"1","year":"2007","journal-title":"Labuan E-journal of Muamalat and Society"},{"issue":"3","key":"key2021041507175165300_ref007","doi-asserted-by":"crossref","first-page":"411","DOI":"10.1037\/0033-2909.103.3.411","article-title":"Structural equation modeling in practice: a review and recommended two-step approach","volume":"103","year":"1988","journal-title":"Psychological Bulletin"},{"key":"key2021041507175165300_ref008","first-page":"2141","article-title":"A study on Islamic pawn broking awareness and factors influencing the scheme in Sungai Petani, Kedah","volume-title":"2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceedings, No. 389 (2nd ICBER), Conference Master Resources","year":"2010"},{"issue":"2","key":"key2021041507175165300_ref009","first-page":"1","article-title":"Improving the financial structure in developing countries","volume":"23","year":"1986","journal-title":"Finance and Development"},{"key":"key2021041507175165300_ref010","volume-title":"Small, Short and Unsecured: Informal Rural Finance in India","year":"1989"},{"issue":"3","key":"key2021041507175165300_ref011","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1016\/0304-3878(84)90061-0","article-title":"Financial repression, the new structuralists, and stabilization policy in semi-industrialized economies","volume":"14","year":"1984","journal-title":"Journal of Development Economics"},{"issue":"3","key":"key2021041507175165300_ref012","doi-asserted-by":"crossref","first-page":"456","DOI":"10.1037\/0033-2909.105.3.456","article-title":"Testing for the equivalence of factor covariance and mean structures: the issue of partial measurement invariance","volume":"105","year":"1989","journal-title":"Psychological Bulletin"},{"issue":"1","key":"key2021041507175165300_ref013","doi-asserted-by":"crossref","first-page":"57","DOI":"10.3362\/0957-1329.2007.008","article-title":"Microfinance through pawnshops: commercial sustainability and impact evaluation","volume":"18","year":"2007","journal-title":"Small Enterprise Development"},{"key":"key2021041507175165300_ref014","doi-asserted-by":"crossref","unstructured":"Cheong, C. and Sinnakkannu, J. 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Finance","issue":"2","license":[{"start":{"date-parts":[[2018,10,16]],"date-time":"2018-10-16T00:00:00Z","timestamp":1539648000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2018,12,10]]},"abstract":"Purpose<\/jats:title>This study aims to validate a potential synergistic venture between cashwaqf<\/jats:italic>(Islamic endowment) institutions (CWIs) and financial cooperatives (FCs) in the provision of affordable Islamic home financing (IHF) in Malaysia.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>The study adopted semi-structured interviews with ten experts to validate the cashwaqf-<\/jats:italic>financial-cooperative-mush\u0101rakah mutan\u0101qi\u1e63ah<\/jats:italic>(CWFCMM) model. Thematic analysis technique was used to analyse the verbatim texts.<\/jats:p><\/jats:sec>Findings<\/jats:title>The findings show that the majority of the informants have positive perceptions of the potential of the CWFCMM model to provide financially affordable IHF products in Malaysia. Nevertheless, this study sheds light on the varying degrees of latent issues and challenges that might arise in the implementation of this model. For example, FCs need to practice the correct business model, implement good governance structures and employ the right people. Meanwhile, CWIs need to work on their accountability issues by publishing their audited accounts in mainstream newspapers, much like what is being done by non-governmental organisations such as the widely recognised Malaysian Medical Relief Society (MERCY Malaysia).<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This study interviewed a small, industry-specific number of informants in generating its findings. Time and budget constraints are some of the limiting factors in carrying out the study. Because of these factors, the generalisation of the study\u2019s findings will be limited.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>First, the CWFCMM model offers an alternative, financially affordable IHF instrument to low- and middle-income households in Malaysia. Second, the involvement of third-sector institutions such as FCs and CWIs in the provision of IHF will reduce the burden of the government in its spending on home financing solutions for civil servants. Third, this model will harness the potential ofwaqf<\/jats:italic>-based financing beyond the contemporary limited applications to mosques, graveyards andta\u1e25f\u012b\u1e93<\/jats:italic>(Qur\u02bean memorization) schools.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This study presents an alternative IHF model that transcends the current institutional framework that is heavily dominated by Islamic commercial banks and government-owned home financing institutions. The study does not focus on a single third-sector institution but on an integration of at least two of them, CWIs and FCs, in implementing the IHF model.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-08-2017-0023","type":"journal-article","created":{"date-parts":[[2018,10,16]],"date-time":"2018-10-16T14:57:26Z","timestamp":1539701846000},"page":"143-161","source":"Crossref","is-referenced-by-count":10,"title":["Qualitative validation of a financially affordable Islamic home financing model"],"prefix":"10.55188","volume":"10","author":[{"given":"Mohd Zaidi","family":"Md Zabri","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mustafa 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(2017), \u201cCover story: unsustainable cost of civil service\u201d, The Edge Malaysia Weekly, 27 April, available at: www.theedgemarkets.com\/article\/cover-story-unsustainable-cost-civil-service (accessed 28 August 2018)."},{"key":"key2021041507174629100_ref044","unstructured":"Suruhanjaya Koperasi Malaysia (2010), Dasar Koperasi Negara 2002-2020 [National Cooperative Policy 2002-2020], Suruhanjaya Koperasi Malaysia, Kuala Lumpur."},{"issue":"1","key":"key2021041507174629100_ref045","first-page":"43","article-title":"Cooperatives as a community development strategy: linking theory and practice","volume":"35","year":"2005","journal-title":"The Journal of Regional Analysis and Policy"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0023\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0023\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,7,11]],"date-time":"2024-07-11T12:09:59Z","timestamp":1720699799000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0023\/full\/html"}},"issued":{"date-parts":[[2018,10,16]]},"references-count":45,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2018,10,16]]},"published-print":{"date-parts":[[2018,12,10]]}},"alternative-id":["10.1108\/IJIF-08-2017-0023"],"URL":"https:\/\/doi.org\/10.1108\/ijif-08-2017-0023","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2018,10,16]]}},{"indexed":{"date-parts":[[2026,3,20]],"date-time":"2026-03-20T19:40:50Z","timestamp":1774035650440,"version":"3.50.1"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2023,5,23]],"date-time":"2023-05-23T00:00:00Z","timestamp":1684800000000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 The recent surge in Shar\u012b\u02bfah-compliant fintech platforms has created an increasing volume of intangible digital assets of increasing value across emerging technological platforms. This phenomenon has generated a significant number of digital assets left behind after the demise of their owners. This paper provides a legal analysis of the implications of abandoned digital assets in Shar\u012b\u02bfah-compliant fintech platforms. It seeks answers to two central research questions: what are the Shar\u012b\u02bfah and legal implications of digital assets after the passing of the owner? How can the existing Shar\u012b\u02bfah-compliant fintech platforms prevent uncertainty over digital assets?\nDesign\/Methodology\/Approach \u2014 This is a conceptual paper which adopts a qualitative analysis of both primary and secondary sources from existing journals and regulatory instruments in Islamic finance jurisdictions to explore the gaps in the law regarding digital assets and regulations regarding unclaimed money. The paper further compares the approaches adopted in Malaysia and Saudi Arabia in regulating digital assets and unclaimed moneys.\nFindings \u2014 The paper finds that there is scope for the administration of digital assets in both regulated and unregulated Shar\u012b\u02bfah-compliant fintech platforms. Similarly, the adoption of e-KYC that complies with the Shar\u012b\u02bfah ethos is essential to ensure that digital assets are not lost upon the account holder\u2019s demise. The legal right and title of the account holder and legal heirs can only be protected through the operation of digital assets regulation in a Shar\u012b\u02bfah-compliant fintech environment.\nOriginality \u2014 This paper is of value to administrators and legal heirs of account holders in fintech environments. It recommends measures to prevent intestacy and uphold the account holders\u2019 and legal heirs\u2019 intergenerational property rights and financial benefits.\nResearch Limitations\/Implications \u2014 As a conceptual paper, the attitude of digital asset users is not examined due to the absence of quantitative or qualitative data on devolution of digital assets.\nPractical Implications \u2014 Although this study focuses on the implication of digital assets for Shar\u012b\u02bfah-compliant fintech platforms, the findings may well have a bearing on policymakers, legal practitioners, and administrators of estates in the management of emerging asset classes.\nArticle Classification \u2014 Conceptual paper<\/jats:p>","DOI":"10.55188\/ijif.v15i2.542","type":"journal-article","created":{"date-parts":[[2023,6,13]],"date-time":"2023-06-13T08:54:41Z","timestamp":1686646481000},"page":"60-76","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":4,"title":["The Legal Implications of Abandoned Digital Assets in Shar\u012b\u02bfah-Compliant Fintech Platforms"],"prefix":"10.55188","volume":"15","author":[{"given":"Sodiq","family":"Omoola","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Hafsat Kamal","family":"Ibrahim","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2023,5,23]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/542\/422","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/542\/422","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:28:56Z","timestamp":1715909336000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/542"}},"issued":{"date-parts":[[2023,5,23]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2023,6,13]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i2.542","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,5,23]]},"assertion":[{"value":"2023-05-23","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-05-23","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,9,1]],"date-time":"2026-09-01T23:23:46Z","timestamp":1788305026331,"version":"build-2803163510"},"reference-count":61,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2021,9,20]],"date-time":"2021-09-20T00:00:00Z","timestamp":1632096000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,5,20]]},"abstract":"\n Purpose<\/jats:title>\n The purpose of this study is to explore the awareness and willingness level of millennials in Indonesia towards cash waqf (cash endowment). Cash waqf has gained huge attention in Indonesia because of its flexibility, especially after the Majlis Ulama Indonesia (MUI) officially announcing in 2002 that cash waqf practices in the country are Shar\u012b\u02bfah-compliant. Millennials comprise 33.75% of the total Indonesian population. Therefore, it is vital to analyze cash waqf from an Indonesian perspective. This study provides vital information for all institutions that are concerned with the enhancement of cash waqf contributions in Indonesia.<\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n Self-structured questionnaires were distributed in Java Island to collect the data. The data were examined by employing suitable statistical tools. Besides, post-interview fact-finding was conducted with cash waqf experts from different related institutions in Indonesia to reach a more in-depth understanding about cash waqf issues.<\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n The results depict a high level of awareness about cash waqf among millennials in Indonesia. The results further reveal a lower willingness level to contribute to cash waqf of the sample population as compared to their level of awareness about cash waqf. Moreover, cash waqf promotions must focus on delivering a deeper understanding about the concept and how it differs from other types of Islamic philanthropy. The results suggest that waqf trustees in the country must be more transparent. Moreover, the Indonesian Waqf Board should implement stricter rules to monitor waqf trustees.<\/jats:p>\n <\/jats:sec>\n \n Research limitations\/implications<\/jats:title>\n This research restricts the sample population to Indonesian Muslims who were born between 1980 and 2000.<\/jats:p>\n <\/jats:sec>\n \n Practical implications<\/jats:title>\n \n As a Muslim-majority country, one would expect Indonesia to make much progress in cash waqf. By providing an explanatory understanding of willingness and awareness of cash waqf among Indonesians, this research can be helpful in designing proper educative marketing campaigns for future endowers to cash waqf activities to ensure cash waqf institutions provide efficient services. It is advisable to emphasize the transparency of waqf organizations. This will add to the\n n\u0101z\u02d9irs\u2019<\/jats:italic>\n (waqf trustee) reputation, thereby boosting waqf's national shares by ensuring a proper allocation of cash waqf. The regulator should be more strict in monitoring\n n\u0101z\u02d9ir<\/jats:italic>\n practices. For instance, it could include a periodic assessment of waqf entities.\n <\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n This study is original in nature; there is no previous study that addresses the millennial\u2019s perspective toward cash waqf in Indonesia. Hence, this study presents precious information for policy makers, practitioners and researchers.<\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/ijif-10-2020-0223","type":"journal-article","created":{"date-parts":[[2021,9,17]],"date-time":"2021-09-17T05:21:27Z","timestamp":1631856087000},"page":"20-37","source":"Crossref","is-referenced-by-count":33,"title":["Cash waqf from the millennials' perspective: a case of Indonesia"],"prefix":"10.55188","volume":"14","author":[{"given":"Khaled","family":"Nour Aldeen","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Inayah Swasti","family":"Ratih","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Risa","family":"Sari Pertiwi","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2021,9,20]]},"reference":[{"issue":"2","key":"key2022052115383286900_ref001","doi-asserted-by":"publisher","first-page":"177","DOI":"10.1108\/IJIF-06-2020-0126","article-title":"Determinants of cash waqf fund collection in Malaysian Islamic banking institutions: empirical insights from employees' perspectives","volume":"13","year":"2021","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2022052115383286900_ref002","first-page":"501","article-title":"An empirical investigation of the determinants of cash waqf awareness in Malaysia","volume":"24","year":"2016","journal-title":"Intellectual Discourse"},{"issue":"2","key":"key2022052115383286900_ref003","doi-asserted-by":"publisher","first-page":"98","DOI":"10.26740\/al-uqud.v3n2","article-title":"Patronage of Islamic and conventional banks: the case of Syria","volume":"3","year":"2019","journal-title":"Al-Uqud: Journal of Islamic Economics"},{"issue":"2","key":"key2022052115383286900_ref004","doi-asserted-by":"publisher","first-page":"19","DOI":"10.18196\/ijief.3236","article-title":"Contemporary issues on cash waqf: a thematic literature review","volume":"3","year":"2020","journal-title":"International Journal of Islamic Economics and Finance (IJIEF)"},{"issue":"ahead-of-print","key":"key2022052115383286900_ref005","doi-asserted-by":"publisher","DOI":"10.1108\/JIMA-03-2019-0063","article-title":"Investigating the antecedents of halal brand product purchase intention: an empirical investigation","volume":"ahead-of-print","year":"2020","journal-title":"Journal of Islamic Marketing"},{"key":"key2022052115383286900_ref007","volume-title":"Kembangkan ekonomi Syariah, KNEKS: milenial jadilah pemain!","year":"2020"},{"key":"key2022052115383286900_ref008","article-title":"Cash waqf models of Baitul Maal wat Tamwil in Indonesia","year":"2016"},{"issue":"2","key":"key2022052115383286900_ref009","doi-asserted-by":"crossref","first-page":"167","DOI":"10.7763\/IJTEF.2014.V5.363","article-title":"Examining the relationship between level of income and appointment of agent in collecting waqf fund","volume":"5","year":"2014","journal-title":"International Journal of Trade, Economics and Finance"},{"issue":"1","key":"key2022052115383286900_ref010","doi-asserted-by":"publisher","first-page":"138","DOI":"10.5829\/idosi.wasj.2013.26.01.13459","article-title":"The inclination of student and public towards the establishment of Islamic waqf bank","volume":"26","year":"2013","journal-title":"World Applied Sciences Journal"},{"key":"key2022052115383286900_ref011","unstructured":"Badan Waqf Indonesia (2020), \u201cMengenal wakaf uang\u201d, available at: https:\/\/www.bwi.go.id\/mengenal-wakaf-uang\/ (accessed 15 August 2020)."},{"key":"key2022052115383286900_ref012","volume-title":"Sharia Economy and Finance Report 2019","author":"Bank Indonesia","year":"2020"},{"issue":"ahead-of-print","key":"key2022052115383286900_ref013","doi-asserted-by":"publisher","DOI":"10.1108\/JIMA-11-2020-0337","article-title":"Impact of digital Sharia banking systems on cash-waqf among Indonesian Muslim youth","volume":"ahead-of-print","year":"2021","journal-title":"Journal of Islamic Marketing"},{"key":"key2022052115383286900_ref014","volume-title":"Statistical Yearbook of Indonesia 2018 (Indonesian Statistics)","author":"BPS-Statistics Indonesia","year":"2018"},{"issue":"2","key":"key2022052115383286900_ref015","doi-asserted-by":"crossref","first-page":"77","DOI":"10.1191\/1478088706qp063oa","article-title":"Using thematic analysis in psychology","volume":"3","year":"2006","journal-title":"Qualitative Research in Psychology"},{"key":"key2022052115383286900_ref016","unstructured":"Budiati, I., Susianto, Y., Adi, W.P., Ayuni, S., Reagan, H.A., Larasaty, P. and Saputri, V.G. 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Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2024,3,29]],"date-time":"2024-03-29T00:00:00Z","timestamp":1711670400000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"ABSTRACT\nPurpose \u2014 This paper explores how Islamic economics and finance, when developed as an embedded framework for regenerative development in line with maq\u0101\u1e63id al-Shar\u012b\u02bfah (the objectives of Islamic law), can facilitate the design of sustainable contracts and Islamic financial engineering. This framework provides a mechanism to achieve the paradigm shift advocated by Islamic finance scholars to accommodate the sustainability agenda into the practical applications of Islamic economics and finance. The paper specifically focuses on the Gulf Cooperation Council\u2019s (GCC) economies. \u00a0\u00a0\nDesign\/Methodology\/Approach \u2014 This study employs an analytical research approach to evaluate the compatibility of Islamic social and commercial finance with sustainability objectives. The analysis is primarily qualitative and relies on the One Earth Framework proposed by Simpson et al. (2021) to structure the assessment of opportunities and challenges related to sustainability that Islamic economics and finance in the GCC region can help address.\nFindings \u2014 The paper highlights the potential of Islamic economics and finance as an embedded framework to address sustainability challenges in the GCC countries. By examining the capacity of Islamic finance to accommodate sustainability pathways, it elucidates avenues for integrating sustainable practices within Islamic financial contracts and institutions.\nOriginality\/Value \u2014 One of the key contributions of this paper is the introduction and development of Islamic economics and finance as an embedded framework. This pioneering concept not only lays the groundwork for a practical mechanism but also signifies a fundamental step in realising the paradigm shift within Islamic finance. This transformative approach enhances the relevance and effectiveness of Islamic finance in fostering sustainability, marking a significant advancement in the field.\nResearch Limitations \u2014 While the study provides valuable insights, it primarily follows an analytical approach and does not involve quantitative analysis. It serves as a starting point for further research on the integration of sustainability objectives in Islamic finance.\nPractical Implications \u2014 The paper suggests practical implications for Islamic finance stakeholders, highlighting the potential for sustainable contract design and financial engineering.\nKeywords \u2014 Islamic finance, \u00a0Islamic financial engineering, Natural capital, Regenerative development, Sustainable contract design\u00a0\nArticle Classification \u2014 Conceptual paper<\/jats:p>","DOI":"10.55188\/ijif.v16i1.561","type":"journal-article","created":{"date-parts":[[2024,3,29]],"date-time":"2024-03-29T06:49:36Z","timestamp":1711694976000},"update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":6,"title":["Sustainable Islamic Financial Engineering with Special Reference to Gulf Cooperation Council\u2019s 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Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:33Z","timestamp":1672830333000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-75920"}},"issued":{"date-parts":[[2014,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2014,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0019267","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2014,12]]}},{"indexed":{"date-parts":[[2024,9,15]],"date-time":"2024-09-15T19:50:37Z","timestamp":1726429837215},"reference-count":22,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2017,7,10]],"date-time":"2017-07-10T00:00:00Z","timestamp":1499644800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,7,10]]},"abstract":"\nPurpose<\/jats:title>\nIslamic banks are obliged to carry out transactions that only comply with Islamic commercial laws. Malaysia has been championing the Shar\u012b\u02bfah-based banking system, and so, continuous improvement on the compliance level of the institutions offering Islamic financial services is key to its global recognition in this industry. One of the issues that can affect deposit products is existence of a sale contract and loan facility in one transaction. Famous prophetic tradition prohibits this. Hence, this paper aims to examine the linkage between bay\u02bfwa salaf<\/jats:italic> (combination between a sale contract and loan in one transaction) and deposits accounts in Malaysia.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe subject matter of this paper is one that is researchable within library-based research. It is on this premise the research used the non-empirical qualitative research methodology. It used inductive method of analysis of both Islamic and policy documents on Islamic banking in Malaysia. Literature from Islamic jurisprudence, websites of some of the Islamic banks in Malaysia and relevant resolutions from the Shariah Advisory Council of Central Bank of Malaysia were consulted.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nBased on the methodology mentioned above, the researchers arrived at the following findings: that, although there is no juristic disagreement about the prohibition of bay\u02bfwa salaf<\/jats:italic>, disagreement, however, occurs in results of some contracts. The most notable area of agreement on the existence of bay\u02bfwa salaf<\/jats:italic> is when there is express stipulation of sale or rendering of service and express or implied stipulation of loan alongside of the sale or service rendering. In an organized reversed tawarruq<\/jats:italic>, the use of these deposits by the banks is regarded as loan from the depositors to the banks, who will soon put the money into sale that will generate profit to be divided between the banks and their depositors. However, this study finds that this is not bay\u02bfwa salaf<\/jats:italic> prohibited by the prophetic tradition.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe originality of this topic is proven by the new banking regulation regime of Malaysia, which compels Islamic banks to guarantee all deposits under them. As Islamic banks carry out their banking activities through trading, there is need to conduct a research such as this. This is to examine whether Islamic banks\u2019 unilateral use of depositors\u2019 funds in non-investment accounts which is translated, constructively, as loan from the depositors to Islamic banks amounts to bay\u02bfwa salaf<\/jats:italic> before the future tawarruq<\/jats:italic>. Here there is loan and sale, which is the tawarruq<\/jats:italic>. Hence, the need to do this research.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-07-2017-011","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:18Z","timestamp":1545304818000},"page":"106-112","source":"Crossref","is-referenced-by-count":3,"title":["Fiqh\u012b<\/i> views on bay\u02bfwa salaf<\/i> and qar\u1e0d<\/i>-based Islamic banking deposit accounts in Malaysia"],"prefix":"10.55188","volume":"9","author":[{"given":"Mahadi","family":"Ahmad","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Riaz","family":"Ansary","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","reference":[{"key":"key2020120621042016200_ref001","volume-title":"al-Muntaq\u0101 shar\u1e25 al-Muwa\u1e6d\u1e6da\u02be","year":"1332"},{"key":"key2020120621042016200_ref002","volume-title":"al-Bay\u0101n f\u012b madhhab al-Im\u0101m al-Sh\u0101fi\u02bf\u012b","year":"2000\/1421"},{"key":"key2020120621042016200_ref003","volume-title":"al-\u1e24\u0101w\u012b al-kab\u012br","year":"1999"},{"key":"key2020120621042016200_ref004","volume-title":"Sharh al-Talq\u012bn","year":"2008"},{"key":"key2020120621042016200_ref005","volume-title":"Raw\u1e0dat al-\u1e6d\u0101lib\u012bn wa \u02bfumdat al-muft\u012bn","year":"1991","edition":"3rd ed."},{"key":"key2020120621042016200_ref006","volume-title":"al-Mabs\u016b\u1e6d","year":"1993"},{"key":"key2020120621042016200_ref007","volume-title":"al-Umm","year":"1990"},{"key":"key2020120621042016200_ref008","volume-title":"Taby\u012bn al-\u1e25aq\u0101\u02beiq, shar\u1e25 Kanz al-daq\u0101\u02beiq wa \u1e24\u0101shiyat al-Shilb\u012b"},{"key":"key2020120621042016200_ref009","volume-title":"Qard","author":"Bank Negara Malaysia","year":"2016"},{"key":"key2020120621042016200_ref010","volume-title":"Shar\u012b\u02bfah Standards and Operational Requirements Series 1","author":"Bank Negara Malaysia","year":"2016"},{"key":"key2020120621042016200_ref011","volume-title":"Fiqh of Contemporary Financial and Banking Transactions: New Reading","year":"2013"},{"key":"key2020120621042016200_ref012","unstructured":"Hong Leong Islamic Bank Berhad (2017), \u201cHhong Leong Islamic Bank\u201d website, available at: www.hlisb.com.my\/personal-i\/basic-savings-account-i (accessed 10 March 2017)."},{"key":"key2020120621042016200_ref013","volume-title":"al-Tamh\u012bd li m\u0101 f\u012b al-Muwa\u1e6d\u1e6da\u02be min al-ma\u02bfn\u012b wa al-as\u0101n\u012bd","year":"1287"},{"key":"key2020120621042016200_ref014","volume-title":"al-Istidhk\u0101r, D\u0101r al-Kutub al-\u02bfIlmiyyah","year":"2000\/1421"},{"key":"key2020120621042016200_ref015","volume-title":"\u1e24\u0101shiyat al-Das\u016bq\u012b \u02bfal\u0101 al-Shar\u1e25 al-kab\u012br","year":".."},{"key":"key2020120621042016200_ref016","volume-title":"Al-Ashb\u0101h wa al-na\u1e93\u0101\u02beir","year":"1999"},{"key":"key2020120621042016200_ref017","volume-title":"Qar\u0101r bi sha\u02ben al-Tawarruq: \u1e25aq\u012bqatuhu anw\u0101\u02bfuhu al-Fiqh\u012b al-Ma\u02bfr\u016bf wa al-Ma\u1e63raf\u012b al-Muna.z.zam","author":"International Islamic Fiqh Academy","year":"2009"},{"key":"key2020120621042016200_ref018","volume-title":"Mas\u0101il al-Imam Ahmad Ibn Hanbal and Ishaq Ibn R\u0101h\u016byah","year":"2002\/1425"},{"key":"key2020120621042016200_ref019","volume-title":"Shar\u1e25 al-Sunnah","year":"1983"},{"key":"key2020120621042016200_ref020","volume-title":"Deposit and Financing Products Based on Tawarruq","author":"Bank Negara Malaysia","year":"2005"},{"key":"key2020120621042016200_ref021","volume-title":"Al-mas\u0101lik f\u012b shar\u1e25 muwa\u1e6d\u1e6da\u02be m\u0101lik, D\u0101r al-Gharb al-Isl\u0101m\u012b","year":"2007"},{"key":"key2020120621042016200_ref022","volume-title":"Musnad al-Im\u0101m A\u1e25mad ibn \u1e24anbal","year":"1995"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-011\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-011\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:40Z","timestamp":1672830340000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-011\/full\/html"}},"issued":{"date-parts":[[2017,7,10]]},"references-count":22,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2017,7,10]]}},"alternative-id":["10.1108\/IJIF-07-2017-011"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2017-011","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,7,10]]}},{"indexed":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T23:40:03Z","timestamp":1714174803031},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"DOI":"10.55188\/ijif.v4i1","type":"journal-issue","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:34:20Z","timestamp":1673231660000},"source":"Crossref","is-referenced-by-count":0,"prefix":"10.55188","volume":"4","member":"33484","published-online":{"date-parts":[[2012,6,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T23:17:48Z","timestamp":1714173468000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/issue\/view\/23"}},"issued":{"date-parts":[[2012,6,15]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2012,6,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v4i1","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,6,15]]}},{"indexed":{"date-parts":[[2026,6,27]],"date-time":"2026-06-27T19:57:35Z","timestamp":1782590255281,"version":"3.54.5"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2023,3,6]],"date-time":"2023-03-06T00:00:00Z","timestamp":1678060800000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2015 Currently, there is neither a formal zakat system nor a zakat institution in Morocco. However, in recent years, discussions have intensified regarding the establishment of a national zakat fund in the Kingdom. In this regard, the paper attempts to fill the gap by examining the factors determining the intention of Moroccans to pay their zakat obligations to the national zakat fund.\r\nDesign\/Methodology\/Approach \u2015 The present study adopts a quantitative research design based on the theory of planned behaviour (TPB). A relevant questionnaire was designed and distributed to zakat believers in Morocco. Structural equation modelling (SEM) was used to analyse the data collected.\r\nFindings \u2015 The study found that most of the zakat believers have basic knowledge of zakat as a religious obligation and that there is a need for proper education on zakat. Additionally, among the variables studied, only attitude has a significant positive impact on the intention of Moroccans to pay their zakat obligations to the zakat national fund.\r\nOriginality\/Value \u2015 This study is unique in nature as it is the first study to explore individuals\u2019 intention in Morocco to pay their zakat obligations to a national zakat fund based on the TPB.\r\nResearch Limitations\/Implications \u2015 The primary limitation of this research is its scope. The study focuses on individual contributors only. Further studies might target businesses and Islamic financial institutions as potential donors.\r\nPractical Implications \u2015 The paper suggests some recommendations aiming to increase confidence in the zakat fund and building a positive attitude among the muzakk\u012bs (zakat payers).<\/jats:p>","DOI":"10.55188\/ijif.v15i1.484","type":"journal-article","created":{"date-parts":[[2023,3,6]],"date-time":"2023-03-06T01:51:01Z","timestamp":1678067461000},"page":"36-53","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":7,"title":["Behavioural Intention of Zakat Participants Towards the Zakat Fund in Morocco"],"prefix":"10.55188","volume":"15","author":[{"given":"Mohamed Hamza","family":"Ghaouri","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Salina","family":"Kassim","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Anwar Hasan","family":"Abdullah Othman","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Habeebullah","family":"Zakariyah","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2023,3,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/484\/393","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/484\/393","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:34:41Z","timestamp":1715909681000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/484"}},"issued":{"date-parts":[[2023,3,6]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2023,3,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i1.484","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,3,6]]},"assertion":[{"value":"2023-03-06","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-03-06","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,3,2]],"date-time":"2026-03-02T20:12:03Z","timestamp":1772482323707,"version":"3.50.1"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2011,6,15]],"date-time":"2011-06-15T00:00:00Z","timestamp":1308096000000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"abstract":"Shelter is one of the basic needs for human beings. Its availability for the people is an Islamic imperative. In view of the appalling living conditions of a substantial proportion of the population in most countries around the world, especially Muslim, Islamic banks have entered the field with various schemes for home financing. In this infant industry, this effort is understandably guided by the profit motive, but a social dimension has to surface in the course of time. Unfortunately, the models banks currently use for home financing remain under the juridical gaze, more so as the practice is not always found to be transparent. This paper looks at Islamic home financing models in a broader societal context. It evaluates the efficacy of the current financing structures practised and suggests a new approach. The proposed model is shown as superior to the existing ones. It meets the norms of equity, fair play and openness and does not, presumably, violate any other Islamic norm. Finally, the paper makes some policy suggestions to integrate Islamic home financing into the broader social goals of an Islamic economy.<\/jats:p>","DOI":"10.55188\/ijif.v3i1.123","type":"journal-article","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:24:15Z","timestamp":1673231055000},"page":"7-24","source":"Crossref","is-referenced-by-count":13,"title":["Islamic Home Finance in the Social Mirror"],"prefix":"10.55188","volume":"3","author":[{"given":"Zubair","family":"Hasan","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2011,6,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:24:20Z","timestamp":1673231060000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/view\/123"}},"issued":{"date-parts":[[2011,6,15]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2011,6,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v3i1.123","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2011,6,15]]}},{"indexed":{"date-parts":[[2026,9,16]],"date-time":"2026-09-16T17:12:18Z","timestamp":1789578738788,"version":"build-2803163510"},"reference-count":46,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2019,6,17]],"date-time":"2019-06-17T00:00:00Z","timestamp":1560729600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,6,17]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to investigate the extent to which ma\u1e63la\u1e25ah<\/jats:italic> (public interest) is taken into consideration in Islamic banking operations in Malaysia, particularly in bay\u02bf al-\u02bf\u012bnah<\/jats:italic> (sale and buyback), ta\u02bfwi\u1e0d<\/jats:italic> (compensation) and ibr\u0101\u02be<\/jats:italic> (rebate).<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThis study applies deductive and inductive methods to analyze the application of ma\u1e63la\u1e25ah<\/jats:italic> in Islamic financial transactions. Three issues in Malaysia are selected as a case study, allowing bay\u02bf al-\u02bf\u012bnah,<\/jats:italic> standardizing the rate of ta\u02bfwi\u1e0d<\/jats:italic> and stipulating the ibr\u0101\u02be<\/jats:italic> clause in financial agreements. As this study is qualitative in nature, all data are analyzed based on the content analysis method.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nBoth the ma\u1e63la\u1e25ah<\/jats:italic> of Islamic banks and their customers were found to be considered by the Central Bank of Malaysia in the implementation of contracts and principles of Islamic banking. The first ma\u1e63la\u1e25ah<\/jats:italic> represents the viability of Islamic banks, while the second ma\u1e63la\u1e25ah<\/jats:italic> promotes fairness and transparency between Islamic banks and their customers.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThis study only focuses on the contracts and principles of Islamic banking operations in Malaysia with regard to three selected issues.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nThis paper clarifies the practical application of ma\u1e63la\u1e25ah<\/jats:italic> in the Islamic banking industry, particularly with regard to implementing its contracts and principles.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThis paper analyzes the argument of ma\u1e63la\u1e25ah<\/jats:italic> on the issues of bay\u02bf al-\u02bf\u012bnah<\/jats:italic> , ta\u02bfwi\u1e0d<\/jats:italic> and ibr\u0101\u02be<\/jats:italic> in Malaysia, which are considered among scholars to be debatable issues. While many discussions focus on the legal aspect of Shar\u012b\u02bfah on those issues, this study emphasizes how the application of ma\u1e63la\u1e25ah<\/jats:italic> aims to solve the current problems and harmonize between Shar\u012b\u02bfah and reality.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-01-2018-0017","type":"journal-article","created":{"date-parts":[[2019,3,26]],"date-time":"2019-03-26T15:26:13Z","timestamp":1553613973000},"page":"137-146","source":"Crossref","is-referenced-by-count":9,"title":["The principle of ma\u1e63la\u1e25ah<\/i> and its application in Islamic banking operations in Malaysia"],"prefix":"10.55188","volume":"11","author":[{"given":"Muhammad Shahrul Ifwat","family":"Ishak","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020021416293882800_ref001","volume-title":"Sharia Standards for Islamic Financial Institutions","author":"AAOIFI","year":"2010"},{"key":"key2020021416293882800_ref002","first-page":"1","article-title":"Ibra\u2019 and its application in Islamic finance","year":"2013","journal-title":"ISRA Bloomberg Bulletin"},{"issue":"3","key":"key2020021416293882800_ref003","doi-asserted-by":"crossref","first-page":"435","DOI":"10.1108\/IMEFM-07-2015-0085","article-title":"Bilateral rebate (ibra\u2019 mutabadal) in Islamic banking operation: a critical appraisal","volume":"9","year":"2016","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"1","key":"key2020021416293882800_ref004","doi-asserted-by":"crossref","first-page":"29","DOI":"10.4197\/islec.9-1.2","article-title":"Price control in an Islamic economy","volume":"9","year":"1997","journal-title":"Journal of King Abdulaziz University-Islamic Economics"},{"key":"key2020021416293882800_ref005","volume-title":"Al-I\u1e25tik\u0101r wa \u0100th\u0101ruhu f\u012b al-Fiqh al-Isl\u0101m\u012b","year":"2011"},{"issue":"4","key":"key2020021416293882800_ref006","first-page":"9","article-title":"Al-ta\u1e6db\u012bq al-maq\u0101\u1e63id\u012b li al-ahk\u0101m al-shar\u02bfiyyah","volume":"4","year":"2008","journal-title":"Al-Majallah al-Urduniyyah f\u012b al-Dir\u0101sah al-Isl\u0101miyyah"},{"key":"key2020021416293882800_ref007","volume-title":"Al-Ijtih\u0101d al-Maq\u0101\u1e63id\u012b","year":"2010"},{"key":"key2020021416293882800_ref008","volume-title":"Dir\u0101s\u0101t f\u012b Fiqh Maq\u0101\u1e63id al-Shar\u012b\u02bfah bayna al-Maq\u0101\u1e63id al-Kulliyah wa al-Nu\u1e63\u016b\u1e63 al-Juz\u02beiyyah","year":"2006"},{"key":"key2020021416293882800_ref009","volume-title":"Na\u1e93ar\u012byyat al-Maq\u0101\u1e63id \u02bfinda al-Im\u0101m al-Sh\u0101\u1e6dib\u012b","year":"1995"},{"key":"key2020021416293882800_ref010","volume-title":"Al-Umm","year":"2001"},{"key":"key2020021416293882800_ref011","volume-title":"Maq\u0101\u1e63id al-Shar\u012b\u02bfah al-Isl\u0101m\u012byyah wa \u02bfAl\u0101qatuh\u0101 bi al-Adillah al-Shar\u02bfiyyah","year":"1998"},{"key":"key2020021416293882800_ref012","unstructured":"Amer Hamzah, A.Z. and Vizcaino, B. (2014), \u201cMalaysia tightens rules on divisive Islamic bai inah deals\u201d, Reuters, available at: www.reuters.com\/article\/us-islamic-finance-malaysia\/malaysia-tightens-rules-on-divisive-islamic-bai-inah-deals-idUSBREA4K0FM20140521 (accessed 13 February 2019)."},{"key":"key2020021416293882800_ref013","volume-title":"New Issues in Islamic Finance and Economics: Progress and Challenges","year":"2009"},{"key":"key2020021416293882800_ref014","volume-title":"Maqasid al-Shariah as Philosophy of Islamic Law: A Systems Approach","year":"2007"},{"key":"key2020021416293882800_ref015","volume-title":"Resolutions of Shariah Advisory Council of Bank Negara Malaysia","author":"BNM","year":"2007"},{"key":"key2020021416293882800_ref016","volume-title":"Shariah Resolutions in Islamic Finance","author":"BNM","year":"2010","edition":"2nd ed"},{"key":"key2020021416293882800_ref017","volume-title":"Guidelines on Ibra\u2019 (Rebate) for Sale-Based Financing","author":"BNM","year":"2013"},{"key":"key2020021416293882800_ref018","volume-title":"Guidelines on Late Payment Charges for Islamic Banking Institutions","author":"BNM","year":"2015"},{"key":"key2020021416293882800_ref019","volume-title":"Introduction of Islamic Variable Rate Mechanism","author":"BNM","year":"2019"},{"key":"key2020021416293882800_ref020","volume-title":"Harriman\u2019s Financial Dictionary","year":"2007"},{"key":"key2020021416293882800_ref021","article-title":"Can Bursa Malaysia\u2019s Suq Al-Sila\u2019 (commodity murabahah house) resolve the controversy over tawarruq?","volume-title":"ISRA Research Paper No 10","year":"2010"},{"key":"key2020021416293882800_ref022","article-title":"Implementasi ibra\u2019 dalam produk berasaskan harga tangguh dalam sistem perbankan Islam: analisis dari perspektif operasi perbankan dan maqasid syari\u2019ah","volume-title":"ISRA Research Paper No 16","year":"2010"},{"key":"key2020021416293882800_ref023","unstructured":"Ernst and Young (2016), World Islamic Banking Competitiveness Report 2016, available at: www.ey.com\/Publication\/vwLUAssets\/ey-world-islamic-banking-competitiveness-report-2016\/%24FILE\/ey-world-islamic-banking-competitiveness-report-2016.pdf (accessed 16 February 2019)."},{"issue":"1","key":"key2020021416293882800_ref024","first-page":"455","article-title":"Al-Tas\u02bf\u012br f\u012b al-fiqh al-Islami","volume":"22","year":"2006","journal-title":"Majallah J\u0101mi\u02bfah Dimashq li al-\u02bfUlum al-Iqti\u1e63adiyyah wa al-Q\u0101n\u016bniyyah"},{"key":"key2020021416293882800_ref025","volume-title":"Maq\u0101\u1e63id al Shar\u012b\u02bfah al-\u012asl\u0101miyyah","year":"2001"},{"key":"key2020021416293882800_ref026","volume-title":"Tafs\u012br al-Qur\u0101n al-\u02bfA\u1e93\u012bm","year":"2008"},{"key":"key2020021416293882800_ref027","volume-title":"Sunan Ibn M\u0101jah","year":"2000"},{"key":"key2020021416293882800_ref028","volume-title":"Qar\u0101r bi Sha\u02ben al-Bay\u02bf bi al-Taqs\u012b\u1e6d","author":"IIFA","year":"1992"},{"key":"key2020021416293882800_ref029","volume-title":"Qar\u0101r bi Sha\u02ben Maw\u1e0d\u016b\u02bf al-Shar\u1e6d al-Jaz\u0101\u02be\u012b","author":"IIFA","year":"2000"},{"key":"key2020021416293882800_ref030","volume-title":"Qar\u0101r bi Sha\u02ben al-Muw\u0101\u02bfadah wa al-Muw\u0101\u1e6da\u02beah f\u012b al-\u02bfuq\u016bd","author":"IIFA","year":"2006"},{"key":"key2020021416293882800_ref031","volume-title":"An Introduction to Islamic Finance, Theory and Practice","year":"2007"},{"key":"key2020021416293882800_ref032","volume-title":"ISRA Compendium for Islamic Financial Terms (Arabic-English","author":"ISRA","year":"2009"},{"key":"key2020021416293882800_ref033","volume-title":"Islamic Financial System: Principles and Operations","author":"ISRA","year":"2011"},{"key":"key2020021416293882800_ref034","volume-title":"Shar\u012b\u02bfah Issues and Resolutions in Contemporary Islamic Banking and Finance","year":"2014"},{"key":"key2020021416293882800_ref035","year":"2017"},{"issue":"12","key":"key2020021416293882800_ref036","first-page":"27","article-title":"Maslahah\u2019s role as an instrument for revival of ijtihad","volume":"8","year":"2015","journal-title":"International Journal of Islamic Thought"},{"key":"key2020021416293882800_ref037","unstructured":"Malik, M. (2011), \u201cConstructing the architectonics and formulating the articulation of Islamic governance: a discursive attempt in Islamic epistemology\u201d, doctoral thesis, Durham University, Durham."},{"issue":"2","key":"key2020021416293882800_ref038","first-page":"225","article-title":"\u1e24ukm bay\u02bfal-\u02bfinah f\u012b al-fiqh al-Isl\u0101m\u012b al-muq\u0101rin wa ta\u1e6db\u012bq\u0101tuhu al-mu\u02bf\u0101\u1e63irah","volume":"34","year":"2007","journal-title":"Majallah al-Shar\u012b\u02bfah wa al-Q\u0101n\u016bn"},{"issue":"1","key":"key2020021416293882800_ref039","first-page":"125","article-title":"Cost of funds \u2013 is it a part of actual loss (ta\u2019wid)?","volume":"3","year":"2011","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2020021416293882800_ref040","article-title":"The parameters of hiyal in Islamic finance","volume-title":"ISRA Research Paper No 80","year":"2015"},{"key":"key2020021416293882800_ref041","unstructured":"Mohamad, A.H. and Trakic, A. (2013), \u201cApplication and development of ibr\u0101\u02be in Islamic banking in Malaysia\u201d, The Law Review, available at: www.tunabdulhamid.my\/index.php\/speech-papers-lectures\/item\/505-application-and-development-of-ibra-in-islamic-banking-in-malaysia (accessed 16 February 2019)."},{"issue":"20","key":"key2020021416293882800_ref042","first-page":"1","article-title":"The historical development of modern Islamic banking: a study in South-East Asia countries","volume":"10","year":"2013","journal-title":"African Journal of Business Management"},{"issue":"4","key":"key2020021416293882800_ref043","doi-asserted-by":"crossref","first-page":"499","DOI":"10.1163\/15730255-12341245","article-title":"The bay\u02bf al-inah controversy in Malaysian Islamic banking","volume":"26","year":"2012","journal-title":"Arab Law Quarterly"},{"key":"key2020021416293882800_ref044","article-title":"Application of bay\u02bf al-\u02bfinah in Islamic banking and finance: from the viewpoint of siyasah shar`iyyah","year":"2012"},{"key":"key2020021416293882800_ref045","doi-asserted-by":"crossref","unstructured":"Van Greuning, H. and Iqbal, Z. (2008), Risk Analysis for Islamic Banks, World Bank, Washington, DC.","DOI":"10.1596\/978-0-8213-7141-1"},{"key":"key2020021416293882800_ref046","unstructured":"Yusof, S.M. (2017), \u201cA study on bay\u02bf al-mur\u0101ba\u1e25ah in Islamic law and its application in Malaysian Islamic banks\u201d, PhD dissertation, University of Aberdeen, Scotland."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0017\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0017\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:54Z","timestamp":1672830354000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0017\/full\/html"}},"issued":{"date-parts":[[2019,6,17]]},"references-count":46,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2019,6,17]]}},"alternative-id":["10.1108\/IJIF-01-2018-0017"],"URL":"https:\/\/doi.org\/10.1108\/ijif-01-2018-0017","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,6,17]]}},{"indexed":{"date-parts":[[2024,5,10]],"date-time":"2024-05-10T00:29:22Z","timestamp":1715300962938},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"S1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"DOI":"10.55188\/ijif.v16is1","type":"journal-issue","created":{"date-parts":[[2024,5,6]],"date-time":"2024-05-06T12:56:11Z","timestamp":1715000171000},"source":"Crossref","is-referenced-by-count":0,"prefix":"10.55188","volume":"16","member":"33484","published-online":{"date-parts":[[2024,5,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T06:29:31Z","timestamp":1715236171000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/issue\/view\/74"}},"issued":{"date-parts":[[2024,5,6]]},"references-count":0,"journal-issue":{"issue":"S1","published-online":{"date-parts":[[2024,5,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16is1","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,5,6]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:04:50Z","timestamp":1672898690721},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2019,6,17]],"date-time":"2019-06-17T00:00:00Z","timestamp":1560729600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,6,17]]},"DOI":"10.1108\/ijif-06-2019-076","type":"journal-article","created":{"date-parts":[[2019,6,26]],"date-time":"2019-06-26T08:22:43Z","timestamp":1561537363000},"page":"2-5","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"11","author":[{"given":"Beebee Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-06-2019-076\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-06-2019-076\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:55Z","timestamp":1672830355000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-06-2019-076\/full\/html"}},"issued":{"date-parts":[[2019,6,17]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2019,6,17]]}},"alternative-id":["10.1108\/IJIF-06-2019-076"],"URL":"https:\/\/doi.org\/10.1108\/ijif-06-2019-076","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,6,17]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:03:47Z","timestamp":1672898627907},"reference-count":7,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2017,12,4]],"date-time":"2017-12-04T00:00:00Z","timestamp":1512345600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,12,4]]},"abstract":"\nPurpose<\/jats:title>\nThe purpose of this paper is to analyze the different features of preference shares from accounting and Shar\u012b\u02bfah perspectives. It also aims to study Shar\u012b\u02bfah issues arising from preference shares and to subsequently propose solutions for identified issues that will help in structuring Islamic preference shares.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe paper uses a qualitative method by analyzing relevant documents and literature to understand the subject matter and Shar\u012b\u02bfah-related issues.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe paper finds that several features of conventional preference shares, such as capital guarantee, loss sharing disproportionate to capital contribution, fixed profit, profit guarantee and waiver of rights before realization of profit, make them a Shar\u012b\u02bfah non-compliant instrument.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThe paper is conceptual in nature; however, it provides directions for future empirical research.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe paper provides a practicable solution to structure Shar\u012b\u02bfah-compliant preference shares.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-07-2017-0008","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:35Z","timestamp":1545304835000},"page":"185-189","source":"Crossref","is-referenced-by-count":0,"title":["Preference shares: analysis of Shar\u012b\u02bfah issues"],"prefix":"10.55188","volume":"9","author":[{"given":"Shamsiah","family":"Mohamad","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mezbah Uddin","family":"Ahmed","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mohd Bahroddin","family":"Badri","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","reference":[{"key":"key2020120411423109100_ref001","volume-title":"Circular to Shareholders","author":"Allianz Malaysia Berhad","year":"2010"},{"key":"key2020120411423109100_ref002","volume-title":"Tan\u0101zul in \u1e62uk\u016bk Issuance: A Critical Analysis of the Malaysian Applications","year":"2014"},{"key":"key2020120411423109100_ref003","unstructured":"Bursa Malaysia (2017), \u201cEquities\u201d, available at: www.bursamalaysia.com\/market\/securities\/equities\/products\/shares (accessed 14 December 2016)."},{"key":"key2020120411423109100_ref004","volume-title":"Circular to Shareholders","author":"Dolomite Corporation Berhad","year":"2012"},{"issue":"1","key":"key2020120411423109100_ref005","first-page":"43","article-title":"The early history of preferred stock in the United States","volume":"9","year":"1929","journal-title":"The American Economic Review"},{"key":"key2020120411423109100_ref006","first-page":"A1107","article-title":"IAS 32 financial instruments: presentation","volume-title":"International Financial Reporting Standards (Red Book)","author":"IFRS Foundation","year":"2016"},{"key":"key2020120411423109100_ref007","volume-title":"Circular to Shareholders","author":"Insas Berhad","year":"2014"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-0008\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-0008\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:45Z","timestamp":1672830345000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-0008\/full\/html"}},"issued":{"date-parts":[[2017,12,4]]},"references-count":7,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2017,12,4]]}},"alternative-id":["10.1108\/IJIF-07-2017-0008"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2017-0008","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,12,4]]}},{"indexed":{"date-parts":[[2025,10,21]],"date-time":"2025-10-21T03:24:36Z","timestamp":1761017076525},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2013,12]]},"DOI":"10.12816\/0002770","type":"journal-article","created":{"date-parts":[[2014,6,29]],"date-time":"2014-06-29T07:59:53Z","timestamp":1404028793000},"page":"83-98","source":"Crossref","is-referenced-by-count":3,"title":["The Performance of Islamic Banks and Macroeconomic Conditions"],"prefix":"10.55188","volume":"5","author":[{"given":"Suria Rismawati","family":"Sanwari","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Roza Hazli","family":"Zakaria","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:27Z","timestamp":1672830327000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42599"}},"issued":{"date-parts":[[2013,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2013,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0002770","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2013,12]]}},{"indexed":{"date-parts":[[2025,5,7]],"date-time":"2025-05-07T12:13:39Z","timestamp":1746620019228},"reference-count":17,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2018,10,16]],"date-time":"2018-10-16T00:00:00Z","timestamp":1539648000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2018,12,10]]},"abstract":"\nPurpose<\/jats:title>\nThe purpose of this paper is to lay down the methodological structure of the epistemology of tawhid<\/jats:italic> (Oneness of Allah). In this paper, the meaning of tawhid also refers to the monotheistic unity of knowledge (consilience) in the cast of its organic pairing by circular causation relations between the moral and material possibilities. The paper thereby raises the critique of mainstream economic reasoning and its imitation by existing Islamic economics. Consequently, by the ontological, epistemological and phenomenological foundation of tawhidi<\/jats:italic> methodological worldview, an altogether new socio-scientific reasoning in generality and economic reasoning in particular is introduced.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe socio-scientific methodological reasoning of unity of knowledge according to the tawhidi<\/jats:italic> methodological worldview is introduced contrary to the inept rational choice postulates of mainstream economic reasoning and its imitation by existing notions of Islamic economics. The method of instructing students in the light of this approach according to Tawhidi<\/jats:italic> Islamic Economics (TIE) is introduced from the existing literature.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe existing nature of mainstream economics and its imitation by Islamic economics is critically deconstructed and replaced by the true epistemological, ontological and phenomenological perspectives of TIE in the world of learning. Some inner properties of such a methodological study of TIE are laid bare for further investigation.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThis is the first paper of its kind in this journal to expound the original and most creative methodological worldview that Islamic economics must bear. This is the foundation of the development of the true stance of Islamic economics and finance.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-02-2018-0025","type":"journal-article","created":{"date-parts":[[2018,10,16]],"date-time":"2018-10-16T15:00:25Z","timestamp":1539702025000},"page":"263-276","source":"Crossref","is-referenced-by-count":13,"title":["Tawhidi<\/i> Islamic economics in reference to the methodology arising from the Qur\u02be\u0101n and the Sunnah"],"prefix":"10.55188","volume":"10","author":[{"given":"Masudul Alam","family":"Choudhury","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2018,10,16]]},"reference":[{"key":"key2021041507175370200_ref001","volume-title":"A Realist Theory of Science","year":"1978"},{"key":"key2021041507175370200_ref002","article-title":"Discussions with Einstein on epistemological issues","volume-title":"The Philosophy of Niels Bohr: The Framework of Complementarity","year":"1988"},{"key":"key2021041507175370200_ref003","volume-title":"The Sufi Path of Knowledge: Ibn al Arabi's Metaphysics of Imagination","year":"1989"},{"key":"key2021041507175370200_ref004","volume-title":"Tawhidi Epistemology and Its Applications: Economics, Finance, Science, and Society","year":"2014"},{"key":"key2021041507175370200_ref005","volume-title":"A Phenomenological Theory of Islamic Economics","year":"2017"},{"issue":"4","key":"key2021041507175370200_ref006","doi-asserted-by":"crossref","first-page":"270","DOI":"10.1108\/08288661211277335","article-title":"Theory appraisal in Islamic economic methodology: purposes and criteria","volume":"28","year":"2012","journal-title":"Humanomics"},{"key":"key2021041507175370200_ref007","volume-title":"Imam Ghazzali\u2019s Ihya Ulum-Id-Din","year":"2018"},{"key":"key2021041507175370200_ref008","first-page":"110","article-title":"An evolutionary economics? On borrowing from evolutionary biology","volume-title":"Reorienting Economics","year":"2003"},{"issue":"6","key":"key2021041507175370200_ref010","doi-asserted-by":"crossref","first-page":"556","DOI":"10.1108\/03068291311321857","article-title":"Islamic economics: still in search of an identity","volume":"40","year":"2013","journal-title":"International Journal of Social Economics"},{"key":"key2021041507175370200_ref011","unstructured":"Mahomedy, A.C. (2017), \u201cWhy the rationalist foundations of modern science are unsuitable for Islamic economics\u201d, Doctoral thesis, Department of Accounting, Economics and Finance, College of Law and Management, University of KwaZulu-Natal."},{"key":"key2021041507175370200_ref012","volume-title":"Epistemology: A Beginner\u2019s Guide","year":"2010"},{"key":"key2021041507175370200_ref009","first-page":"36","volume-title":"The Rhetoric of Economics","year":"1985"},{"key":"key2021041507175370200_ref013","volume-title":"Perspectives on Morality and Human Well-Being: A Contribution to Islamic Economics","year":"2003"},{"key":"key2021041507175370200_ref014","volume-title":"Muqaddimah: an Introduction to History","year":"1958"},{"issue":"2","key":"key2021041507175370200_ref015","first-page":"61","article-title":"Islamic economics: where from, where to?","volume":"27","year":"2014","journal-title":"JKAU: Islamic Economics"},{"key":"key2021041507175370200_ref016","volume-title":"Al-Farabi on the Perfect State","year":"1985"},{"issue":"2","key":"key2021041507175370200_ref017","first-page":"73","article-title":"Comment: Islamic economics: where from, where to?","volume":"27","year":"2014","journal-title":"JKAU: Islamic Economics"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2018-0025\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2018-0025\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:53Z","timestamp":1672830353000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-02-2018-0025\/full\/html"}},"issued":{"date-parts":[[2018,10,16]]},"references-count":17,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2018,10,16]]},"published-print":{"date-parts":[[2018,12,10]]}},"alternative-id":["10.1108\/IJIF-02-2018-0025"],"URL":"https:\/\/doi.org\/10.1108\/ijif-02-2018-0025","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2018,10,16]]}},{"indexed":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T23:40:09Z","timestamp":1714174809528},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"4","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"DOI":"10.55188\/ijif.v15i4","type":"journal-issue","created":{"date-parts":[[2023,12,27]],"date-time":"2023-12-27T14:25:37Z","timestamp":1703687137000},"source":"Crossref","is-referenced-by-count":0,"prefix":"10.55188","volume":"15","member":"33484","published-online":{"date-parts":[[2023,12,27]]},"container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T23:16:04Z","timestamp":1714173364000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/issue\/view\/70"}},"issued":{"date-parts":[[2023,12,27]]},"references-count":0,"journal-issue":{"issue":"4","published-online":{"date-parts":[[2023,12,27]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i4","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,12,27]]}},{"indexed":{"date-parts":[[2026,8,18]],"date-time":"2026-08-18T00:07:30Z","timestamp":1787011650742,"version":"build-2736575974"},"reference-count":51,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2020,7,31]],"date-time":"2020-07-31T00:00:00Z","timestamp":1596153600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2020,7,31]]},"abstract":"\n Purpose<\/jats:title>\n \n Tawarruq<\/jats:italic>\n (Islamic commodity financing) has evolved as the most ubiquitous concept in Malaysia\u2019s Islamic banking industry. Nevertheless, the extensive use of\n tawarruq<\/jats:italic>\n has invoked a number of Shar\u012b\u02bfah (Islamic law) concerns in its practice. This study aims to investigate the Shar\u012b\u02bfah non-compliant (SNC) phenomena in the practice of\n tawarruq<\/jats:italic>\n financing in Malaysia.\n <\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n \n This study adopts qualitative research methodology, combining both descriptive and content analysis. A self-administered questionnaire was distributed to 16 Malaysian Islamic commercial banks to unveil the Shar\u012b\u02bfah non-compliance issues in the application of\n tawarruq<\/jats:italic>\n in Islamic banks (IBs) in Malaysia.\n <\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n \n The study found that some practices of\n tawarruq<\/jats:italic>\n in Malaysia might not comply with the Shar\u012b\u02bfah, mainly due to the improper sequencing of contracts. The study also discovered that IBs adopt different approaches in dealing with SNC events and the income derived therefrom. Finally, the study noted the influence of board of director\/management on certain Shar\u012b\u02bfah decisions particularly on the treatment of non\n -\u1e25al\u0101l<\/jats:italic>\n (impermissible) income.\n <\/jats:p>\n <\/jats:sec>\n \n Practical implications<\/jats:title>\n \n The findings of the study serve as a reference to industry players and regulators in formulating a Shar\u012b\u02bfah non-compliance risk management framework for\n tawarruq<\/jats:italic>\n practices.\n <\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n \n The survey on SNC issues in\n tawarruq<\/jats:italic>\n practice constitutes the first of its kind in the existing literature.\n <\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/ijif-07-2018-0075","type":"journal-article","created":{"date-parts":[[2020,7,31]],"date-time":"2020-07-31T03:59:14Z","timestamp":1596167954000},"page":"151-169","source":"Crossref","is-referenced-by-count":14,"title":["Survey on Shar\u012b\u02bfah non-compliant events in Islamic banks in the practice of\n tawarruq<\/i>\n financing in Malaysia"],"prefix":"10.55188","volume":"12","author":[{"given":"Mohammad Mahbubi","family":"Ali","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Rusni","family":"Hassan","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020092910332912000_ref001","volume-title":"Shari\u2019ah Standards for Islamic Financial Institutions","author":"AAOIFI","year":"2008"},{"key":"key2020092910332912000_ref002","volume-title":"Shari\u02bfah Standards for Islamic Financial Institutions","author":"AAOIFI","year":"2010"},{"issue":"2","key":"key2020092910332912000_ref003","doi-asserted-by":"crossref","first-page":"9","DOI":"10.24191\/jeeir.v8i2.8621","article-title":"Issues on interbank commodity murabaha (CM) for liquidity management in Malaysia","volume":"8","year":"2020","journal-title":"Journal of Emerging Economies and Islamic Research"},{"issue":"3","key":"key2020092910332912000_ref004","doi-asserted-by":"crossref","first-page":"278","DOI":"10.1163\/15730255-12341282","article-title":"Debate on tawarruq: historical discourse and current rulings","volume":"28","year":"2014","journal-title":"Arab Law Quarterly"},{"key":"key2020092910332912000_ref005","volume-title":"\u1e24\u0101shiyat al-Das\u016bq\u012b \u02bfal\u0101 al-Shar\u1e25 al-Kab\u012br","author":"Al-Das\u016bq\u012b","year":"1980"},{"key":"key2020092910332912000_ref006","unstructured":"Aleshaikh, N. (2011), \u201cJurisprudence on tawarruq: contextual evaluation on basis of customs, circumstances, time and place\u201d, Doctoral dissertation, Durham University, Durham."},{"issue":"42","key":"key2020092910332912000_ref007","article-title":"Resolutions on bai \u2018\u012bnah in Malaysia: an evolution","volume":"11","year":"2014","journal-title":"Islamic Finance News"},{"key":"key2020092910332912000_ref008","volume-title":"Bad\u0101\u02bei\u02bf al-\u1e62an\u0101\u02bei\u02bf","author":"Al-K\u0101s\u0101n\u012b","year":"1986"},{"issue":"4","key":"key2020092910332912000_ref009","doi-asserted-by":"crossref","first-page":"307","DOI":"10.1163\/15730255-12334042","article-title":"Tawarruq: controversial or acceptable?","volume":"33","year":"2019","journal-title":"Arab Law Quarterly"},{"key":"key2020092910332912000_ref010","volume-title":"Al-Majm\u016b\u02bf Shar\u1e25 al-Muhadhdhab","author":"Al-Nawaw\u012b","year":"1990"},{"key":"key2020092910332912000_ref011","unstructured":"Al-Qaradagh\u012b, M. (2009), \u201cAl-Fa\u1e0d\u0101lah wa ta\u1e6db\u012bq\u0101tuh\u0101\u201d, available at: www.qaradaghi.com\/portal\/index.php?option=com_content&view=article&id=536:2009-07-13-11-20-19&catid=84:2009-07-13-09-55-10&Itemid=13 (accessed 9 June 2020)."},{"key":"key2020092910332912000_ref012","volume-title":"\u02bfAmaliyyat al-Tawarruq wa Ta\u1e6db\u012bq\u0101tuhu al-Iqti\u1e63\u0101diyyah f\u012b al-Ma\u1e63\u0101rif al-Isl\u0101miyyah","year":"2005"},{"key":"key2020092910332912000_ref013","first-page":"274","article-title":"Al-\u02bf\u012bnah wa al-tawarruq al-ma\u1e63raf\u012b","volume":"24","year":"2004","journal-title":"Majallat al-Iqti\u1e63\u0101d al-Isl\u0101m\u012b"},{"key":"key2020092910332912000_ref014","volume-title":"Tu\u1e25fat al-Fuqah\u0101\u02be","year":"1994"},{"key":"key2020092910332912000_ref015","unstructured":"Al-Shalhoob, S. (2005), \u201cA study of organised tawarruq as practised in the financial institutions in Saudi Arabia\u201d, paper presented at the International Islamic Conference on Islamic Banking and Finance, Kuala Lumpur, 23-25 April."},{"key":"key2020092910332912000_ref016","volume-title":"Al-Shar\u1e25 al-Mumti\u02bf \u02bfal\u0101 Z\u0101d al-Mustaqni\u02bf","year":"1422"},{"key":"key2020092910332912000_ref017","volume-title":"Shariah Resolutions in Islamic Finance","author":"BNM","year":"2010","edition":"2nd Edn"},{"key":"key2020092910332912000_ref018","volume-title":"Guidelines on Late Payment Charges for Islamic Banking Institutions","author":"BNM","year":"2012"},{"key":"key2020092910332912000_ref019","volume-title":"Circular on Shariah Non-Compliance Reporting","author":"BNM","year":"2013"},{"key":"key2020092910332912000_ref020","volume-title":"Tawarruq","author":"BNM","year":"2015"},{"key":"key2020092910332912000_ref021","volume-title":"Financial Stability and Payment Systems Report 2016","author":"BNM","year":"2016"},{"key":"key2020092910332912000_ref022","unstructured":"BNM (2020a), \u201cFinancial stability: Islamic banks\u201d, available at: www.bnm.gov.my\/index.php?ch=li&cat=islamic&type=IB&fund=0&cu=1 (accessed 10 June 2020)."},{"key":"key2020092910332912000_ref023","volume-title":"Financial Stability Review for Second Half 2019","author":"BNM","year":"2020"},{"key":"key2020092910332912000_ref024","article-title":"Can Bursa Malaysia\u2019s Suq al-Sila\u2019 (commodity murabahah house) resolve the controversy over tawarruq?","year":"2010"},{"key":"key2020092910332912000_ref025","article-title":"The application of commodity murabahah in Bursa Suq Sila\u2019 Malaysia vis-\u00e0-vis Jakarta future exchange Shar\u012b\u02bfah Indonesia: a comparative study","volume-title":"ISRA Research Paper 49\/2013","year":"2013"},{"key":"key2020092910332912000_ref026","article-title":"Tawarruq: Shar\u012b\u2019ah risk or banking conundrum","year":"2009"},{"key":"key2020092910332912000_ref027","volume-title":"Planning and Evaluating Health Programs: A Primer","year":"1994"},{"key":"key2020092910332912000_ref028","unstructured":"\u1e24amm\u0101d, N. (2009), \u201cAl-Tawarruq \u1e25ukmuhu wa ta\u1e6db\u012bq\u0101tuhu al-Mu\u02bf\u0101\u1e63irah\u201d, paper presented at the 19th OIC Fiqh Academy."},{"key":"key2020092910332912000_ref029","volume-title":"Radd al-Mu\u1e25t\u0101r \u02bfal\u0101 al-Durr al-Mukht\u0101r","author":"Ibn \u02bf\u0100bid\u012bn","year":"1992"},{"key":"key2020092910332912000_ref030","volume-title":"I\u02bfl\u0101m al-Muwaqqi\u02bf\u012bn \u02bfan Rabb al-\u02bf\u0100lam\u012bn","author":"Ibn al-Qayyim","year":"1991"},{"key":"key2020092910332912000_ref031","volume-title":"Al-Fat\u0101w\u0101 al-Kubr\u0101","author":"Ibn Taymiyyah","year":"1987"},{"key":"key2020092910332912000_ref032","article-title":"Laws of Malaysia","author":"Islamic Financial Services Act (IFSA)","year":"2013"},{"issue":"3","key":"key2020092910332912000_ref033","doi-asserted-by":"crossref","first-page":"388","DOI":"10.1108\/IMEFM-05-2014-0048","article-title":"Tawarruq time deposit with wakalah principle: an option that triggers new issues","volume":"9","year":"2016","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"key":"key2020092910332912000_ref034","volume-title":"Islamic Financial System: Principles and Operations","year":"2011"},{"key":"key2020092910332912000_ref035","volume-title":"Al-Fat\u0101w\u0101 al-Shar\u02bfiyyah f\u012b al-Mas\u0101\u02beil al-Iqti\u1e63\u0101diyyah","author":"KFH","year":"1986"},{"key":"key2020092910332912000_ref036","first-page":"6","article-title":"Maslahah and the permissibility of organised tawarruq","volume-title":"Opalesque Islamic Finance Intelligence","year":"2010"},{"key":"key2020092910332912000_ref037","first-page":"169","article-title":"The application of bay\u2019 al-tawarruq in Islamic banking institutions in Malaysia","volume":"1","year":"2018","journal-title":"New Developments in Islamic Economics"},{"key":"key2020092910332912000_ref038","unstructured":"Mohamad, N. (2014), \u201cTawarruq in Malaysian financing system: a case study on commodity mur\u0101bahah product at Maybank Islamic Berhad\u201d, master\u2019s thesis, University of Malaya, Kuala Lumpur."},{"key":"key2020092910332912000_ref039","article-title":"Analysis of tawarruq-based financing: from Shar\u012b\u2019ah risk management perspective","volume-title":"Islamic Economics, Banking and Finance Concepts and Critical Issues","year":"2014"},{"key":"key2020092910332912000_ref040","volume-title":"Fas\u0101d al-Mu\u02bf\u0101malah al-Tij\u0101riyah wa Atharuhu f\u012b al-\u1e24arakah al-Iqti\u1e63\u0101diyah: Dir\u0101sah Fiqhiyah Muq\u0101ranah","year":"2007"},{"issue":"1","key":"key2020092910332912000_ref041","first-page":"1","article-title":"A review of Islamic credit card using bay\u2019 al-\u2018inah and tawarruq instrument as adopted by some Malaysian financial institutions","volume":"6","year":"2009","journal-title":"The Journal of Muamalat and Islamic Finance Research"},{"key":"key2020092910332912000_ref042","volume-title":"Mu\u02bfjam Lughat al-Fuqah\u0101\u02be","year":"1988"},{"key":"key2020092910332912000_ref043","unstructured":"Radzi, R.M. (2012), \u201cRating the rating: an evaluation of the operations of credit rating agencies in Malaysia\u201d, doctoral dissertation, School of Commerce, University of South Australia, Adelaide."},{"key":"key2020092910332912000_ref044","unstructured":"Rahman, Z.A. (2016), \u201cAn investigation of gambling elements in tawarruq-based profit rate swap and options\u201d, paper presented at the 11th International Conference on Islamic Economics and Finance, Kuala Lumpur, 11-13 October available at: www.researchgate.net\/profile\/Zaharuddin_Abdul_Rahman\/publication\/309463367_AN_INVESTIGATION_OF_GAMBLING_ELEMENTS_IN_TAWARRUQ_BASED_PROFIT_RATE_SWAP_AND_OPTIONS (accessed 9 June 2020)."},{"key":"key2020092910332912000_ref045","volume-title":"Research Methods for Business: A Skill Building Approach","year":"2003"},{"issue":"2","key":"key2020092910332912000_ref046","doi-asserted-by":"crossref","first-page":"179","DOI":"10.1163\/15730255-12332010","article-title":"The effect of \u2018motive\u2019 on characterising organised tawarruq","volume":"33","year":"2019","journal-title":"Arab Law Quarterly"},{"key":"key2020092910332912000_ref047","unstructured":"Shubayr, M.U. (2009), \u201cAl-Tawarruq al-Fiqh\u012b wa ta\u1e6db\u012bq\u0101tuhu al-Ma\u1e63rafiyah al-Mu\u02bf\u0101\u1e63irah f\u012b al-Fiqh al-Isl\u0101m\u012b\u201d, paper presented at the 19th OIC Fiqh Academy Conference."},{"key":"key2020092910332912000_ref048","unstructured":"Uthman, I.A. (2009), \u201cAl-Tawarruq: \u1e24aq\u012bqatuhu anw\u0101\u02bfuhu (al-Fiqh\u012b al-Ma\u02bfr\u016bf wa al-Ma\u1e63raf\u012b al-Muna\u1e93\u1e93am)\u201d, paper presented at the 19th OIC Fiqh Academy Conference"},{"key":"key2020092910332912000_ref049","volume-title":"Al-Fiqh al-Isl\u0101mi wa Adillatuhu","year":"2004"},{"key":"key2020092910332912000_ref050","volume-title":"Maws\u016b\u02bfat al-Fiqh al-Isl\u0101m\u012b wa al-Qa\u1e0d\u0101y\u0101 al-Mu\u02bf\u0101","year":"2010"},{"key":"key2020092910332912000_ref051","volume-title":"Shariah Governance Policy Document","author":"BNM","year":"2019"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2018-0075\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2018-0075\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T06:06:05Z","timestamp":1672812365000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2018-0075\/full\/html"}},"issued":{"date-parts":[[2020,7,31]]},"references-count":51,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2020,7,31]]}},"alternative-id":["10.1108\/IJIF-07-2018-0075"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2018-0075","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2020,7,31]]}},{"indexed":{"date-parts":[[2026,8,18]],"date-time":"2026-08-18T05:47:13Z","timestamp":1787032033733,"version":"build-2736575974"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"S1","license":[{"start":{"date-parts":[[2024,5,6]],"date-time":"2024-05-06T00:00:00Z","timestamp":1714953600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 This research explores the dimensions of perceived i\u1e25s\u0101n (altruism) and trust, utilising a framework rooted in the Unified Theory of Acceptance and Use of Technology (UTAUT), to comprehensively explore the intricate motivations and ethical considerations underlying individuals\u2019 engagement with digital waqf platforms.\nDesign\/Methodology\/Approach \u2014 Structural Equation Modeling (SEM) was applied to analyse primary data collected from 202 Muslims residing in four cities in Indonesia.\nFindings \u00ad\u2014 The investigation unveiled that performance expectancy, social influence and perceived i\u1e25s\u0101n significantly impact the intention of digital waqf usage. On the other hand, trust affects a person\u2019s intention, shaping their behaviour to donate through digital waqf platforms. In contrast, effort expectancy does not affect the intention to engage in waqf through digital channels, and facilitating condition do not affect user behaviour.\nOriginality\/Value \u2014 This study introduces a novel approach by incorporating perceived i\u1e25s\u0101n and trust dimensions into the UTAUT model to achieve the objective of this research. In particular, it offers unique insights into the disbursement of cash waqf among Muslims via digital platforms (e.g., online channels).\nPractical Implications \u2014 The study emphasises that individuals from the low middle-class demonstrate empathy and mutual support in the face of financial limitations. The article offers valuable recommendations to the government, aligning with Indonesia\u2019s Golden 2045 goal. These recommendations encompass the implementation of advanced digitisation in waqf management, integration of waqf data into robust financial management systems, and intensified educational campaigns aimed at raising public awareness on cash waqf, particularly among the younger generation.<\/jats:p>","DOI":"10.55188\/ijif.v16is1.586","type":"journal-article","created":{"date-parts":[[2024,5,6]],"date-time":"2024-05-06T08:56:22Z","timestamp":1714985782000},"page":"94-117","update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":20,"title":["Empowering the Future of Cash Waqf through Digitalisation: An Insight into the Philanthropic Intention of the Indonesian Muslim Community"],"prefix":"10.55188","volume":"16","author":[{"given":"Dahlia","family":"Bonang","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Shafinar","family":"Ismail","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"family":"Raditya Sukmana","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2024,5,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/586\/478","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/586\/478","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T02:33:07Z","timestamp":1715221987000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/586"}},"issued":{"date-parts":[[2024,5,6]]},"references-count":0,"journal-issue":{"issue":"S1","published-online":{"date-parts":[[2024,5,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16is1.586","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,5,6]]},"assertion":[{"value":"2023-08-11","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-05-06","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-04-30","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,8,21]],"date-time":"2026-08-21T12:00:13Z","timestamp":1787313613273,"version":"build-2736575974"},"reference-count":72,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2020,12,23]],"date-time":"2020-12-23T00:00:00Z","timestamp":1608681600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2021,7,6]]},"abstract":"\n Purpose<\/jats:title>\n The present paper aims to propose a viable alternative model for human capital development (HCD), termed as the integrated cash waqf micro enterprises investment (ICWME-I) model, which is expected to contribute to the development of micro enterprises in Malaysia.<\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n This is a conceptual paper for the development of the ICWME-I model. It is purely qualitative in nature, using content analysis. It comprehensively reviews the literature related to HCD issues faced by micro enterprises and existing studies related to cash waqf (Islamic endowment) to construct the ICWME-I model.<\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n The proposed ICWME-I model is specially designed for HCD of micro enterprises. It is an appropriate initiative to upgrade micro enterprises through HCD programmes by ensuring proper utilization of cash waqf funds to build modern training centres at subsidized costs with state-of-the-art facilities. The training centres would subsidize the participation fees of micro enterprises and provide them with facilities to undertake education and training programmes, as well as other kinds of activities for upgrading, improving and enhancing human capital capacity and skills of micro enterprises. The potential challenges of the ICWME-I model are also highlighted in this study.<\/jats:p>\n <\/jats:sec>\n \n Research limitations\/implications<\/jats:title>\n This paper attempts to construct the ICWME-I model based on an extensive review of literature related to micro enterprises, cash waqf and HCD. Among its major limitations is the fact that the ICWME-I model is not empirically validated and tested in this research. This can be carried out in future studies.<\/jats:p>\n <\/jats:sec>\n \n Practical implications<\/jats:title>\n The present study could have an enormous impact on micro entrepreneurs via HCD programmes. The most important impact would be on government budgets, as this ICWME-I model is expected to generate its own funds from cash waqf for micro enterprises\u2019 HCD.<\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n This paper brings forward an original and viable model to develop human capital for micro enterprises development. This model involves the building of training centres using cash waqf raised from donors.<\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/ijif-08-2018-0091","type":"journal-article","created":{"date-parts":[[2020,12,29]],"date-time":"2020-12-29T03:53:17Z","timestamp":1609213997000},"page":"66-83","source":"Crossref","is-referenced-by-count":29,"title":["Cash waqf model for micro enterprises\u2019 human capital development"],"prefix":"10.55188","volume":"13","author":[{"given":"Mohamed Asmy","family":"Mohd Thas Thaker","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Md Fouad","family":"Amin","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Hassanudin","family":"Mohd Thas Thaker","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Ahmad","family":"Khaliq","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Anwar","family":"Allah Pitchay","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2020,12,23]]},"reference":[{"issue":"2","key":"key2021072709523867300_ref001","doi-asserted-by":"crossref","first-page":"83","DOI":"10.1016\/S0264-2751(99)00003-7","article-title":"The accessibility of the government-sponsored support programmes for small and medium-sized enterprises in Penang","volume":"16","year":"1999","journal-title":"Cities"},{"issue":"4","key":"key2021072709523867300_ref002","first-page":"535","article-title":"Adequacy of financial facilities for small-medium business: empirical findings from Malaysia","volume":"6","year":"2010","journal-title":"International Review of Business Research Papers"},{"issue":"2","key":"key2021072709523867300_ref003","first-page":"1","article-title":"Financing microenterprises: an analytical study of islamic microfinance institutions","volume":"9","year":"2002","journal-title":"Islamic Economic Studies"},{"key":"key2021072709523867300_ref004","volume-title":"Role of Zakah and Awqaf in Poverty Alleviation","year":"2004"},{"issue":"2","key":"key2021072709523867300_ref005","doi-asserted-by":"crossref","first-page":"179","DOI":"10.1016\/0749-5978(91)90020-T","article-title":"The theory of planned behaviour","volume":"50","year":"1991","journal-title":"Organizational Behavior and Human Decision Processes"},{"issue":"9","key":"key2021072709523867300_ref006","first-page":"262","article-title":"The contributions of small and medium scale enterprises to economic growth: a cross-sectional study of Zebilla in the Bawku West District of Northern Ghana","volume":"7","year":"2015","journal-title":"European Journal of Business and Management"},{"key":"key2021072709523867300_ref08a","unstructured":"Ali, H., Abdul Razak, N. and Ahmad, S. 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(2018), \u201cHow can Indian small and medium enterprises bridge the digital skill challenges?\u201d, Society for Human Resource Management, available at www.shrm.org\/shrm-india\/pages\/how-can-indian-small-and-medium-enterprisesbridge-the-digital-skill-challenges.aspx (accessed 13 December 2016)."},{"issue":"1","key":"key2021072709523867300_ref033","doi-asserted-by":"crossref","first-page":"81","DOI":"10.1108\/IJIF-07-2017-007","article-title":"Towards the establishment of cash waqf microfinance fund for refugees","volume":"9","year":"2017","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2021072709523867300_ref035","volume-title":"\u2018The Role of Waqf in Improving the Ummah Welfare\u2019, Paper Presented at the International Seminar on Waqf as a Private Legal Body","year":"2003"},{"issue":"5","key":"key2021072709523867300_ref034","doi-asserted-by":"crossref","first-page":"393","DOI":"10.1353\/jda.2016.0071","article-title":"Effective talent management in Malaysian SMES: a proposed framework","volume":"50","year":"2016","journal-title":"The Journal of Developing Areas"},{"key":"key2021072709523867300_ref036","unstructured":"Karim, A.S. 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(2010), \u201cThe cash waqf for empowering the small businesses\u201d, Paper presented at the 7th International Conference \u2013 The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, Selangor."},{"key":"key2021072709523867300_ref063","first-page":"9","article-title":"Cash awqaf in the Ottomans as philanthropic foundations and their accounting practices","volume-title":"5th Accounting History International Conference","year":"2007"},{"issue":"1","key":"key2021072709523867300_ref065","first-page":"48","article-title":"Government\u2019s financial and business development support for microenterprises in Malaysia: controversies and policy perspectives","volume":"3","year":"2012","journal-title":"Journal of Asia Entrepreneurship and Sustainability"},{"issue":"2","key":"key2021072709523867300_ref066","doi-asserted-by":"crossref","first-page":"335","DOI":"10.1111\/j.1467-6486.2004.00435.x","article-title":"Intellectual capital profiles: an examination of investments and returns","volume":"41","year":"2004","journal-title":"Journal of Management Studies"},{"issue":"3","key":"key2021072709523867300_ref067","first-page":"887","article-title":"Enhancing innovation performance of small and medium enterprises in Malaysia","volume":"11","year":"2020","journal-title":"Management Science Letters"},{"key":"key2021072709523867300_ref068","first-page":"239","article-title":"UniSZA\u2019s staff cash waqf: the impact to social and economic development of Terengganu state","volume":"25","year":"2017","journal-title":"Social Sciences and Humanities, Pertanika J. Soc. Sci. and Hum"},{"key":"key2021072709523867300_ref069","unstructured":"Ahmed, H. (2007), \u201c\u2018Waqf-based microfinance: realizing the social role of Islamic finance\u201d, Paper presented at the International Seminar on Integrating Awqaf in the Islamic Financial Sector, Singapore, 6-7 March."},{"key":"key2021072709523867300_ref070","volume-title":"Economic Census: Profile of Small and Medium Enterprises","author":"Department of Statistics","year":"2011"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2018-0091\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2018-0091\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T06:06:14Z","timestamp":1672812374000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2018-0091\/full\/html"}},"issued":{"date-parts":[[2020,12,23]]},"references-count":72,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2020,12,23]]},"published-print":{"date-parts":[[2021,7,6]]}},"alternative-id":["10.1108\/IJIF-08-2018-0091"],"URL":"https:\/\/doi.org\/10.1108\/ijif-08-2018-0091","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2020,12,23]]}},{"indexed":{"date-parts":[[2026,8,28]],"date-time":"2026-08-28T13:09:27Z","timestamp":1787922567184,"version":"build-2784847793"},"reference-count":39,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2019,6,17]],"date-time":"2019-06-17T00:00:00Z","timestamp":1560729600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,6,17]]},"abstract":"\n Purpose<\/jats:title>\n This paper aims to analyse the concept of form over substance and introduces the term substance gap to the literature. The substance gap is defined as the difference between the way a concept is expressed and its intended result. Besides, the study investigates the issue from both classical and contemporary viewpoints.<\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n The methodology adopted in this paper is descriptive research.<\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n This paper has depicted the substance gap in contemporary contracts and found that form is equally important as substance in Islamic finance contracts. This paper offers a fresh outlook on form and substance to highlight the importance of the issue and its significance. The findings of the study will help researchers address the issue at its roots and help them to bridge the gap between the form and substance of Islamic finance contracts.<\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n \n This paper investigates the substance gap in contemporary contracts that exists between the\n fiqh<\/jats:italic>\n rules and conditions of an Islamic contract, and their development and construction. Further, the gap could also be attributed to the pressure to cope with a complicated modern finance environment.\n <\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/ijif-01-2018-0006","type":"journal-article","created":{"date-parts":[[2019,3,25]],"date-time":"2019-03-25T07:18:32Z","timestamp":1553498312000},"page":"124-136","source":"Crossref","is-referenced-by-count":16,"title":["Contemporary issues of form and substance: an Islamic law perspective"],"prefix":"10.55188","volume":"11","author":[{"given":"Mohamed","family":"Hamour","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mohammad Hassan","family":"Shakil","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Ishaq Mustapha","family":"Akinlaso","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mashiyat","family":"Tasnia","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020021416293801000_ref001","volume-title":"Accounting, Auditing and Governance Standards","author":"AAOIFI","year":"2010"},{"key":"key2020021416293801000_ref002","volume-title":"Shari\u2019ah Standards","author":"AAOIFI","year":"2015"},{"key":"key2020021416293801000_ref003","volume-title":"An Introduction to Islamic Accounting: Theory and Practice","year":"2010"},{"issue":"2","key":"key2020021416293801000_ref004","first-page":"55","article-title":"Contemporary Islamic financing modes between contract technicalities and Shari\u2019ah objectives","volume":"17","year":"2010","journal-title":"Islamic Economic Studies"},{"key":"key2020021416293801000_ref005","unstructured":"Abozaid, A. (2012), \u201cThe methodology of product development needed for Islamic banks upholding social responsibility\u201d, paper presented at International Conference on Business Ethics and Corporate Social Responsibility: Ideals and Realities, 12-14th April, Istanbul."},{"key":"key2020021416293801000_ref006","volume-title":"Reforming the Methodology of Product Development in Islamic Finance","year":"2014"},{"issue":"1","key":"key2020021416293801000_ref007","first-page":"149","article-title":"Maq\u0101\u1e63id al-Shar\u012b\u02bfah and Islamic financial products: a framework for assessment","volume":"3","year":"2011","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2020021416293801000_ref008","volume-title":"Product Development in Islamic Banks","year":"2011"},{"key":"key2020021416293801000_ref009","article-title":"Al-Tawarruq: \u1e24aq\u012bqatuh, \u02bfAnw\u0101\u02bfuhu","year":"2009"},{"key":"key2020021416293801000_ref010","volume-title":"Wiz\u0101rat al-Awq\u0101f wa-al-Shu\u2019\u016bn al-Isl\u0101miyyah","year":"2007"},{"key":"key2020021416293801000_ref011","article-title":"Organized tawarruq in Islamic law: a study of organized tawarruq as practised in the financial institutions in Saudi Arabia","year":"2007"},{"key":"key2020021416293801000_ref012","volume-title":"Financial Transactions in Islamic Jurisprudence","year":"2001"},{"key":"key2020021416293801000_ref013","volume-title":"Financial Reporting Issues Relating to Islamic Finance","author":"AOSSG","year":"2011"},{"issue":"1","key":"key2020021416293801000_ref014","doi-asserted-by":"crossref","first-page":"54","DOI":"10.1108\/JIABR-07-2014-0024","article-title":"An accounting perspective on the use of combined contracts and donations in Islamic financial transactions","volume":"8","year":"2017","journal-title":"Journal of Islamic Accounting and Business Research"},{"issue":"2","key":"key2020021416293801000_ref015","doi-asserted-by":"crossref","first-page":"433","DOI":"10.1016\/j.jbankfin.2012.09.016","article-title":"Islamic vs. conventional banking: business model, efficiency and stability","volume":"37","year":"2013","journal-title":"Journal of Banking and Finance"},{"issue":"1","key":"key2020021416293801000_ref016","doi-asserted-by":"crossref","first-page":"125","DOI":"10.1016\/j.pacfin.2007.12.003","article-title":"Islamic banking: interest-free or interest-based?","volume":"17","year":"2009","journal-title":"Pacific-Basin Finance Journal"},{"issue":"2","key":"key2020021416293801000_ref017","first-page":"316","article-title":"The framework of maq\u0101\u1e63id al-Shar\u012b\u02bfah and its implication for Islamic finance","volume":"2","year":"2011","journal-title":"Islam and Civilisational Renewal"},{"key":"key2020021416293801000_ref018","volume-title":"WILEY Interpretation and Application of International Financial Reporting Standards","year":"2010"},{"issue":"2","key":"key2020021416293801000_ref019","doi-asserted-by":"crossref","first-page":"277","DOI":"10.1108\/IMEFM-07-2014-0078","article-title":"Economic substance or legal form: an evaluation of Islamic finance practice","volume":"9","year":"2016","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"1","key":"key2020021416293801000_ref020","doi-asserted-by":"crossref","first-page":"7","DOI":"10.12816\/0021394","article-title":"Risk sharing versus risk transfer in Islamic finance: a critical appraisal","volume":"7","year":"2015","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2020021416293801000_ref021","volume-title":"Maqasid al-Muuamalat wa Marasid al-Waqiuat","year":"2010"},{"key":"key2020021416293801000_ref022","volume-title":"The Conceptual Framework for Financial Reporting","author":"International Accounting Standards Board (IASB","year":"2010"},{"key":"key2020021416293801000_ref023","volume-title":"An Introduction to Islamic Finance: Theory and Practice","year":"2011"},{"key":"key2020021416293801000_ref024","unstructured":"ISRA (2010), \u201cOIC Fiqh Academy ruled organised tawarruq impermissible in 2009\u201d, available at: www.isra.my\/fatwas\/topics\/commercial-banking\/financing\/tawarruq\/item\/342-oic-fiqh-academy-ruled-organised-tawarruq-impermissible-in-2009.html (accessed 17 January 2019)."},{"key":"key2020021416293801000_ref025","volume-title":"Islamic Financial System: Principles and Operations","author":"ISRA","year":"2012"},{"key":"key2020021416293801000_ref026","volume-title":"Islamic Capital Markets: Principles and Practices","author":"ISRA","year":"2015"},{"key":"key2020021416293801000_ref027","volume-title":"Islamic Financial System: Principles and Operations","author":"ISRA","year":"2016","edition":"2nd ed"},{"issue":"3","key":"key2020021416293801000_ref028","doi-asserted-by":"crossref","first-page":"805","DOI":"10.1016\/j.jebo.2010.09.015","article-title":"How \u2018Islamic\u2019 is Islamic banking?","volume":"76","year":"2010","journal-title":"Journal of Economic Behavior and Organization"},{"issue":"2","key":"key2020021416293801000_ref029","doi-asserted-by":"crossref","first-page":"134","DOI":"10.1108\/IMEFM-12-2013-0125","article-title":"Using social welfare concepts to guarantee Islamic banks\u2019 deposits","volume":"8","year":"2015","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"1","key":"key2020021416293801000_ref030","doi-asserted-by":"crossref","first-page":"32","DOI":"10.1108\/17590811011033398","article-title":"Form versus substance: AAOIFI projects and Islamic fundamentals in the case of \u1e63uk\u016bk","volume":"1","year":"2010","journal-title":"Journal of Islamic Accounting and Business Research"},{"issue":"6","key":"key2020021416293801000_ref031","doi-asserted-by":"crossref","first-page":"848","DOI":"10.1111\/j.1468-2230.1991.tb01854.x","article-title":"The elusive spirit of the law: formalism and the struggle for legal control","volume":"54","year":"1991","journal-title":"The Modern Law Review"},{"issue":"4","key":"key2020021416293801000_ref032","doi-asserted-by":"crossref","first-page":"485","DOI":"10.1108\/IMEFM-10-2013-0106","article-title":"Tawarruq application in Islamic banking: a review of the literature","volume":"7","year":"2014","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"2","key":"key2020021416293801000_ref033","doi-asserted-by":"crossref","first-page":"132","DOI":"10.1108\/17538391011054372","article-title":"Shariah parameters reconsidered","volume":"3","year":"2010","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"4","key":"key2020021416293801000_ref034","doi-asserted-by":"crossref","first-page":"499","DOI":"10.1163\/15730255-12341245","article-title":"The bay\u02bf al-\u02bf\u012bnah controversy in Malaysian Islamic banking","volume":"26","year":"2012","journal-title":"Arab Law Quarterly"},{"issue":"1","key":"key2020021416293801000_ref035","first-page":"12","article-title":"Reporting Islamic financial transactions: need for special Islamic accounting standards","volume":"1","year":"2017","journal-title":"Journal of Islamic Finance Accountancy"},{"key":"key2020021416293801000_ref036","first-page":"333","article-title":"Application of Shar\u012b\u02bfah contracts in contemporary Islamic finance: a maq\u0101\u1e63id perspective","volume":"23","year":"2015","journal-title":"Intellectual Discourse"},{"issue":"2","key":"key2020021416293801000_ref037","first-page":"1","article-title":"Critical assessment of the legal recourse for the case of sukuk default for the asset-backed sukuk and asset-based sukuk structures","volume":"4","year":"2017","journal-title":"European Journal of Islamic Finance"},{"key":"key2020021416293801000_ref038","volume-title":"An Introduction to Islamic Finance","year":"2002"},{"issue":"4","key":"key2020021416293801000_ref039","doi-asserted-by":"crossref","first-page":"155","DOI":"10.1111\/1468-0416.00044","article-title":"A comparative literature survey of Islamic finance and banking","volume":"10","year":"2001","journal-title":"Financial Markets, Institutions and Instruments"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0006\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0006\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T06:05:54Z","timestamp":1672812354000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0006\/full\/html"}},"issued":{"date-parts":[[2019,6,17]]},"references-count":39,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2019,6,17]]}},"alternative-id":["10.1108\/IJIF-01-2018-0006"],"URL":"https:\/\/doi.org\/10.1108\/ijif-01-2018-0006","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,6,17]]}},{"indexed":{"date-parts":[[2026,9,23]],"date-time":"2026-09-23T17:50:30Z","timestamp":1790185830938,"version":"4.1.0"},"reference-count":20,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2019,12,9]],"date-time":"2019-12-09T00:00:00Z","timestamp":1575849600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,12,9]]},"abstract":"\n Purpose<\/jats:title>\n Bringing more impact seems to be a real issue for social initiatives and organizations requiring the adoption of new approaches. The paper aims to define an integrated approach for building, maintaining and upgrading Islamic social finance and sustainable ecosystems.<\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n The paper presents a conceptual framework based on case studies and literature review describing the methodology and the necessary steps to build sustainable ecosystems.<\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n The paper shows the impact of building social finance ecosystems on tackling social issues. It emphasizes the idea that solving social issues is everybody\u2019s business \u2013 from governments to businesses \u2013 and that those initiatives require sufficient Shar\u012b\u02bfah-compliant funding to achieve sustainability goals.<\/jats:p>\n <\/jats:sec>\n \n Research limitations\/implications<\/jats:title>\n The paper does not focus on the Islamic world experiences in building ecosystems serving social causes.<\/jats:p>\n <\/jats:sec>\n \n Practical implications<\/jats:title>\n The paper gives an overview on how collaboration between the different social oriented organisations can enhance the social impact of the different initiatives. The aim is to ensure adequate financing to all the ecosystem components during the whole lifecycle.<\/jats:p>\n <\/jats:sec>\n \n Social implications<\/jats:title>\n The suggested approach of building sustainable ecosystems can serve as a way to assess the existing social initiatives and practices to find relevant combinations targeting more impact.<\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n In the social sphere, the idea of building ecosystems has been explored in different ways but never in a way that gathers all the components including finance providers, coordinators and the different types of initiatives. The paper adapts the ecosystem concept to the Islamic finance specificities.<\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/ijif-10-2018-0118","type":"journal-article","created":{"date-parts":[[2019,8,12]],"date-time":"2019-08-12T05:37:51Z","timestamp":1565588271000},"page":"246-266","source":"Crossref","is-referenced-by-count":67,"title":["An integrated approach for building sustainable Islamic social finance ecosystems"],"prefix":"10.55188","volume":"11","author":[{"given":"Ahmed","family":"Tahiri Jouti","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2019120915142974900_ref001","unstructured":"Al-Suwailem, S. (2013), \u201cIntroduction to the fundamentals of Islamic finance\u201d, Markaz namaa lil bohouth wa dirassat, available at: https:\/\/suwailem.net\/Home\/SectionDetails\/153 (accessed 23 April 2019)."},{"key":"key2019120915142974900_ref002","unstructured":"British Petroleum (2017), \u201cBP sustainability report 2017\u201d, available at: www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/sustainability\/group-reports\/bp-sustainability-report-2017.pdf (accessed 23 April 2019)."},{"issue":"1","key":"key2019120915142974900_ref003","first-page":"128","article-title":"Africa\u2019s new generation of innovators","volume":"95","year":"2017","journal-title":"Harvard Business Review"},{"key":"key2019120915142974900_ref004","article-title":"Abhath fiqhia fi qadaya zakat al mou\u2019asirah","year":"1998"},{"key":"key2019120915142974900_ref005","unstructured":"Cull, R. and Murdoch, J. (2017), \u201cMicrofinance and economic development\u201d, World Bank Policy Research Working Paper No. 8252, World Bank Group, 22 November, available at: https:\/\/ssrn.com\/abstract=3076231 (accessed 18 August 2018)."},{"issue":"5","key":"key2019120915142974900_ref006","first-page":"111","article-title":"Audacious philanthropy: lessons from 15 world-changing initiatives","volume":"95","year":"2017","journal-title":"Harvard Business Review"},{"issue":"2","key":"key2019120915142974900_ref007","doi-asserted-by":"crossref","first-page":"53","DOI":"10.2307\/41165066","article-title":"The new meaning of corporate social responsibility","volume":"26","year":"1984","journal-title":"California Management Review"},{"key":"key2019120915142974900_ref008","unstructured":"E.T. Jackson & Associates Ltd (2012), \u201cAccelerating impact: achievements, challenges and what\u2019s next in building the impact investing industry\u201d, Rockefeller Foundation, New York, available at: www.rockefellerfoundation.org\/report\/accelerating-impact-achievements\/ (accessed 19 August 2018)."},{"issue":"1","key":"key2019120915142974900_ref009","doi-asserted-by":"crossref","first-page":"38","DOI":"10.5465\/amr.1976.4408754","article-title":"Achieving corporate social responsibility","volume":"1","year":"1976","journal-title":"Academy of Management Review"},{"key":"key2019120915142974900_ref010","unstructured":"Gomez, E. (2016), \u201c10 Social enterprise examples and the 7 principles that guide them\u201d, Conscious Connection Magazine, 16 February, available at: www.consciousconnectionmagazine.com\/2016\/02\/social-enterprise-examples-and-principles\/ (accessed 18 August 2018)."},{"key":"key2019120915142974900_ref011","unstructured":"IRTI (2014), \u201cIslamic social finance report 2014\u201d, Thomson Reuters, available at: www.irti.org\/english\/research\/documents\/report-2.pdf (accessed 18 August 2018)."},{"key":"key2019120915142974900_ref012","unstructured":"IRTI (2017), \u201cIRTI Islamic social finance report 2017 (1438)\u201d, Islamic Research and Training Institute, Jeddah, available at: www.irti.org\/English\/News\/Documents\/IRTI%20Islamic%20Social%20Finance%20Report%202017.pdf (accessed 17 August 2018)."},{"key":"key2019120915142974900_ref013","unstructured":"Khazanah Nasional Berhad (2017), \u201cSukuk Ihsan \u2013 sustainable and responsible investment sukuk\u201d, available at: www.khazanah.com.my\/About-Khazanah\/Our-Case-Studies\/Khazanah-360\/Sukuk-Ihsan-Sustainable-and-Responsible-Investme (accessed 28 January 2019)."},{"issue":"10","key":"key2019120915142974900_ref014","first-page":"81","article-title":"The ecosystem of shared value","volume":"94","year":"2016","journal-title":"Harvard Business Review"},{"issue":"5","key":"key2019120915142974900_ref015","first-page":"41","article-title":"The dangers of social-responsibility","volume":"36","year":"1958","journal-title":"Harvard Business Review"},{"key":"key2019120915142974900_ref016","first-page":"288","article-title":"Creating a world without poverty: social business and the future of capitalism","year":"2009","journal-title":"Public Affairs"},{"issue":"1","key":"key2019120915142974900_ref017","doi-asserted-by":"crossref","first-page":"497","DOI":"10.1146\/annurev-economics-063016-103638","article-title":"Mobile money","volume":"9","year":"2017","journal-title":"Annual Review of Economics"},{"key":"key2019120915142974900_ref018","unstructured":"USAID\u2019s Centre for Innovation and Impact (2017), \u201cInvesting for impact: capitalizing on the emerging landscape for global health financing\u201d, available at: www.usaid.gov\/cii\/investing-impact (accessed 23 April 2019)."},{"key":"key2019120915142974900_ref019","volume-title":"A Recipe Book for Social Finance: A Practical Guide on Designing and Implementing Initiatives to Develop Social Finance Instruments and Markets","year":"2016"},{"key":"key2019120915142974900_ref020","unstructured":"United Nations Statistical Commission (2019), available at: https:\/\/unstats.un.org\/home\/ (accessed 23 April 2019)."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-10-2018-0118\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-10-2018-0118\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T06:06:00Z","timestamp":1672812360000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-10-2018-0118\/full\/html"}},"issued":{"date-parts":[[2019,12,9]]},"references-count":20,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2019,12,9]]}},"alternative-id":["10.1108\/IJIF-10-2018-0118"],"URL":"https:\/\/doi.org\/10.1108\/ijif-10-2018-0118","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,12,9]]}},{"indexed":{"date-parts":[[2026,10,2]],"date-time":"2026-10-02T17:14:43Z","timestamp":1790961283074,"version":"4.1.0"},"reference-count":66,"publisher":"International Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2022,9,30]],"date-time":"2022-09-30T00:00:00Z","timestamp":1664496000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,12,8]]},"abstract":"Purpose<\/jats:title>The research identifies the predictors of Islamic mobile banking (IMB) smart services adoption and usage in Jordan.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>Based on the Unified Theory of the Acceptance and Use of Technology (UTAUT) and the Unified Theory of the Acceptance and Use of Technology 2 (UTAUT2), an extended and modified model that encompasses perceived trust was developed. The sample comprised 358 customers from Islamic banks (IBs) in Jordan, and structural equation modelling was applied to examine data drawn from the sample.<\/jats:p><\/jats:sec>Findings<\/jats:title>The research framework presented 0.728% of the behavioural intention variance and 0.455% of the use behaviour. Results discovered that performance expectancy, perceived trust and hedonic motivation have significant relations with behavioural intention. The finding that effort expectancy has an insignificant effect and that social influence has a significant negative influence on behavioural intention was unexpected.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>The research has successfully verified the effect of performance expectancy, perceived trust and hedonic motivation on the customer's intention to use IMB smart services. However, the research data findings are based on the cross-sectional design.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>The outcomes hold implications for marketing strategy makers who are responsible for promoting IMB smart services in IBs.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This research presents a deeper insight into IMB adoption and use. The research employed UTAUT and UTAUT2 as the baseline model and incorporates perceived trust to estimate behavioural intention. To the best of the authors' knowledge, this could be the first inquiry that examines IMB smart services adoption and use in Jordan.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-04-2021-0065","type":"journal-article","created":{"date-parts":[[2022,9,29]],"date-time":"2022-09-29T04:55:18Z","timestamp":1664427318000},"page":"349-362","source":"Crossref","is-referenced-by-count":38,"title":["Islamic mobile banking smart services adoption and use in Jordan"],"prefix":"10.55188","volume":"14","author":[{"given":"Saad G.","family":"Yaseen","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-7074-4652","authenticated-orcid":false,"given":"Ihab Ali","family":"El 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Finance","issue":"2","license":[{"start":{"date-parts":[[2017,12,4]],"date-time":"2017-12-04T00:00:00Z","timestamp":1512345600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,12,4]]},"abstract":"\nPurpose<\/jats:title>\nThis study on corporate demand for general tak\u0101ful<\/jats:italic> (Islamic insurance) aims to identify potential growth areas and areas for improvement in tak\u0101ful<\/jats:italic> business practices in Malaysia.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nA survey on corporates\u2019 protection needs, tak\u0101ful<\/jats:italic>\/insurance coverage obtained and awareness on tak\u0101ful<\/jats:italic>\/insurance was conducted for this paper.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe findings from the survey are as follows: There is potential for tak\u0101ful<\/jats:italic> operators to further penetrate the corporate sector, as the majority of respondents indicated willingness to spend on tak\u0101ful<\/jats:italic>\/insurance. Emphasis on tak\u0101ful<\/jats:italic> value propositions apart from its Shar\u012b\u02bfah compliance status is needed to attract corporates, as respondents were found to be indifferent on Shar\u012b\u02bfah compliance status of their protection. Strong market presence, expanded product offerings and efficient services were key determinants to attract tak\u0101ful<\/jats:italic> subscription. Respondents\u2019 heavy reliance on intermediaries warrants strong collaboration with intermediaries to widen market outreach. The small and medium enterprises segment appeared promising, as it is found to be underserved despite having higher propensity to obtain tak\u0101ful<\/jats:italic>\/insurance coverage compared to the overall respondents.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThis study is limited to Malaysia\u2019s experience. The findings are indicative (though they may not be conclusive) of the target segment as well as the tak\u0101ful<\/jats:italic> industry as a whole.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe insights on respondents\u2019 considerations when obtaining tak\u0101ful<\/jats:italic>\/insurance coverage and the correlation of these factors with respondents\u2019 characteristics can assist tak\u0101ful<\/jats:italic>\/insurance providers in structuring products and business strategies to better serve this market segment. The paper may also aid discussions among researchers and regulators on areas for further development of the industry.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-08-2017-0024","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:35Z","timestamp":1545304835000},"page":"164-184","source":"Crossref","is-referenced-by-count":12,"title":["Corporate demand for general tak\u0101ful<\/i> in Malaysia"],"prefix":"10.55188","volume":"9","author":[{"given":"Hamim Syahrum","family":"Ahmad Mokhtar","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Izwayu","family":"Abdul Aziz","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Noraziyah","family":"Md Hilal","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","reference":[{"issue":"2","key":"key2020120413550818000_ref001","first-page":"278","article-title":"Determinants of corporate demand for Islamic insurance in Malaysia","volume":"3","year":"2009","journal-title":"International Journal of Economics and Management"},{"issue":"1","key":"key2020120413550818000_ref002","doi-asserted-by":"crossref","first-page":"17","DOI":"10.17687\/JEB.0301.02","article-title":"The effects of financial factors on tak\u0101ful demand in Malaysia","volume":"3","year":"2015","journal-title":"Journal of Entrepreneurship and Business"},{"key":"key2020120413550818000_ref003","unstructured":"Islamic Financial Services Act (IFSA) (2013), available at: www.bnm.gov.my\/index.php?ch=en_legislation&pg=en_legislation_act&ac=222&full=1&lang=en (accessed 9 October 2017)."},{"key":"key2020120413550818000_ref004","volume-title":"Malaysian Tak\u0101ful Dynamics, Central Compendium 2015","author":"Malaysian Takaful Association & EY","year":"2015"},{"issue":"2","key":"key2020120413550818000_ref005","doi-asserted-by":"crossref","first-page":"281","DOI":"10.1086\/296165","article-title":"On the corporate demand for insurance","volume":"55","year":"1982","journal-title":"The Journal of Business"},{"issue":"2","key":"key2020120413550818000_ref006","doi-asserted-by":"crossref","first-page":"239","DOI":"10.2307\/253611","article-title":"An empirical investigation of the Japanese corporate demand for insurance","volume":"66","year":"1999","journal-title":"The Journal of Risk and Insurance"},{"key":"key2020120413550818000_ref007","unstructured":"American International Group (2014), Insurance in Corporate Risk Management, available at: www.aig.com\/knowledge-and-insights\/k-and-i-article-role-of-insurance-in-managing-corporate-risk-aig (accessed 8 June 2015)."},{"key":"key2020120413550818000_ref008","volume-title":"Concepts and Operations of General Takaful Business in Malaysia","author":"Bank Negara Malaysia","year":"2005"},{"issue":"2","key":"key2020120413550818000_ref009","doi-asserted-by":"crossref","first-page":"87","DOI":"10.1108\/17538391311329806","article-title":"Islamic insurance (tak\u0101ful): demand and supply in the UK","volume":"6","year":"2013","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"key":"key2020120413550818000_ref010","unstructured":"Hamid, M.A. (2008), Determinants of Corporate Demand for Islamic and Conventional Insurance in Malaysia, available at: http:\/\/lib.iium.edu.my\/mom2\/cm\/content\/view\/view.jsp?key=RMzb93dqWu6TtNgTYouIlgGrAdVfDZ2r20090601152704234 (accessed 8 June 2015)."},{"issue":"6","key":"key2020120413550818000_ref011","first-page":"22","article-title":"The ownership of Islamic insurance (tak\u0101ful) in Malaysia","volume":"2","year":"2013","journal-title":"International Journal of Advances in Management and Economics"},{"key":"key2020120413550818000_ref012","unstructured":"Hoying, T. Agarwal, R. Rapsch, S. and Sasaki, Y. (2014), Mining the Untapped Gold in SME Commercial Insurance, available at: http:\/\/img-stg.bcg.com\/Mining_Untapped_Gold_in_SME_Commerical_Insurance_Nov_2014_tcm9-81412.pdf (accessed 12 July 2016)."},{"issue":"8","key":"key2020120413550818000_ref013","first-page":"23","article-title":"Conceptual and operational differences between general tak\u0101ful and conventional insurance","volume":"1","year":"2011","journal-title":"Australian Journal of Business and Management Research"},{"key":"key2020120413550818000_ref014","volume-title":"Guiding Principles on Governance for Tak\u0101ful (Islamic Insurance) Undertakings","author":"Islamic Financial Services Board","year":"2009"},{"issue":"1","key":"key2020120413550818000_ref015","doi-asserted-by":"crossref","first-page":"99","DOI":"10.12816\/0021398","article-title":"Surplus-sharing practices of tak\u0101ful operators in Malaysia","volume":"7","year":"2015","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2020120413550818000_ref016","unstructured":"Salleh, F. (2015), The Effect of Financial Factors on General Tak\u0101ful Demand Among Small and Medium Enterprises in Malaysia, available at: http:\/\/umkeprints.umk.edu.my\/5059\/1\/PHD%20FAUZILAH%20SALLEH.pdf (accessed 12 July 2016)."},{"issue":"3","key":"key2020120413550818000_ref017","first-page":"65","article-title":"Effective factors in corporate demand for insurance: empirical evidence from Iran","volume":"2","year":"2011","journal-title":"Insurance Markets and Companies: Analyses and Actuarial Computations"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0024\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0024\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:44Z","timestamp":1672830344000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-08-2017-0024\/full\/html"}},"issued":{"date-parts":[[2017,12,4]]},"references-count":17,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2017,12,4]]}},"alternative-id":["10.1108\/IJIF-08-2017-0024"],"URL":"https:\/\/doi.org\/10.1108\/ijif-08-2017-0024","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,12,4]]}},{"indexed":{"date-parts":[[2024,5,10]],"date-time":"2024-05-10T00:25:36Z","timestamp":1715300736001},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2024,3,31]],"date-time":"2024-03-31T00:00:00Z","timestamp":1711843200000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"\u0628\u0633\u0645 \u0627\u0644\u0644\u0647 \u0627\u0644\u0631\u062d\u0645\u0646 \u0627\u0644\u0631\u062d\u064a\u0645\r\nIn the Name of Allah, Most Gracious, Most Merciful\u00a0\r\nRESEARCH QUALITY AND IMPACT\r\nExcellence in research quality and consideration of the practical and social impact as well as the original contributions to the field of knowledge are important determinants in the evaluation of a manuscript for publication. Journals seek to publish manuscripts of high quality to increase their readership, attract high calibre authors, and importantly, increase their impact through more citations, thus getting them to be included in high-ranking index databases.\r\nA study by Margherita et al. (2022) specifically examined what represents quality in research practice and what are its characteristics. The authors proposed a multi-dimensional understanding of research quality and found 66 quality attributes that can be grouped into three aspects in the conduct of research:\r\n\r\nthe research design: this relates to the conceptualisation of the research, its aims, methodology and assumptions, and would include attributes such as objectivity, interdisciplinarity, stringent argumentation, etc.\r\nthe research process: this relates to the execution of the research activities, and would include attributes such as clarity, coherence, rigourousness, thoroughness, originality, conformance to ethics, etc.\u00a0\u00a0\r\nthe research impact: this relates to the influence on academia, practitioners and the society, and would include attributes such as usefulness, novelty, generalizability, dissemination potential, social\/political\/educational\/practical significance, etc.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\r\n\r\nWhile the above study presents a comprehensive framework for determining research quality, historically, quantitative evaluation of academic research quality (and productivity of authors) has been based on an analysis of the number of publications and their received citations, measured by an author\u2019s H-index. The H-index, short for Hirsch index, was developed by J.E.Hirsch as a quantitative metric to provide \u2018an estimate of the importance, significance, and broad impact of a scientist\u2019s cumulative research contributions\u2019 (Hirsch, 2005, p. 16569). It includes an assessment of both the quantity of publications (by taking into account the number of papers published) and an approximation of the quality of those papers (by assessing their impact on the target audience, measured by the number of citations to these articles).<\/jats:p>","DOI":"10.55188\/ijif.v16i1.753","type":"journal-article","created":{"date-parts":[[2024,3,31]],"date-time":"2024-03-31T10:46:18Z","timestamp":1711881978000},"page":"1-3","update-policy":"http:\/\/dx.doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"16","author":[{"given":"Dr Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2024,3,31]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/753\/472","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/753\/472","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T06:35:17Z","timestamp":1715236517000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/753"}},"issued":{"date-parts":[[2024,3,31]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2024,3,29]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16i1.753","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,3,31]]},"assertion":[{"value":"2024-03-31","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-03-31","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2026,4,3]],"date-time":"2026-04-03T23:58:16Z","timestamp":1775260696759,"version":"3.50.1"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2012,6,15]],"date-time":"2012-06-15T00:00:00Z","timestamp":1339718400000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"abstract":"The cash waqf (endowment) has come into prominence in recent years since many Malaysian state Islamic religious councils and the Federal government (through a foundation) began promoting cash waqf schemes. However, unlike the Ottoman form which spent its income\u2015derived from simple money-lending and istighl\u0101l (purchase and lease-back) practices\u2015on the provision of services to meet public needs or for alms-giving, the modern cash waqf invests in low return savings or is converted through the process of istibd\u0101l (substitution) into low-income generating assets. This conceptual paper discusses the application of certain venture capital strategies in both the investment and spending decisions of the cash waqf. In its investment decisions, the cash waqf might utilise some of the tools employed by venture capital firms for choosing its investments and for mitigating risks. In fact, there is also a possibility for the cash waqf to consider certain venture capital opportunities as an alternative asset class in which to invest a portion of its corpus. In its spending decisions, the cash waqf may choose its beneficiaries in much the same way as a venture capital firm would choose its investees; that is, by putting together a portfolio of non-profit organizations (NPOs) with proven track records for delivering social results and which are seeking to grow their organizations to achieve financial sustainability. This paper therefore proposes an Enterprise Waqf Fund (EWF) model that combines the cash waqf model with relevant concepts from venture capital to enhance the dynamism of cash waqf. Policy and legal reforms are also recommended at the end of the paper that would provide an enabling environment within which the Enterprise Waqf Fund can operate.<\/jats:p>","DOI":"10.55188\/ijif.v4i1.137","type":"journal-article","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:34:25Z","timestamp":1673231665000},"page":"99-126","source":"Crossref","is-referenced-by-count":3,"title":["Venture Capital Strategies in Waqf Fund Investment and Spending"],"prefix":"10.55188","volume":"4","author":[{"given":"Tunku Alina","family":"Alias","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2012,6,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/137\/108","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/137\/108","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T23:17:48Z","timestamp":1714173468000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/137"}},"issued":{"date-parts":[[2012,6,15]]},"references-count":0,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2012,6,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v4i1.137","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,6,15]]}},{"indexed":{"date-parts":[[2025,12,25]],"date-time":"2025-12-25T04:44:02Z","timestamp":1766637842862},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,6]]},"DOI":"10.12816\/0002738","type":"journal-article","created":{"date-parts":[[2014,6,26]],"date-time":"2014-06-26T10:52:40Z","timestamp":1403779960000},"page":"99-126","source":"Crossref","is-referenced-by-count":5,"title":["Venture Capital Strategies in Waqf Fund Investment and Spending"],"prefix":"10.55188","volume":"4","author":[{"given":"Tunku Alina","family":"Alias","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:18Z","timestamp":1672830318000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42548"}},"issued":{"date-parts":[[2012,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2012,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0002738","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,6]]}},{"indexed":{"date-parts":[[2023,5,11]],"date-time":"2023-05-11T08:00:09Z","timestamp":1683792009754},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2015]]},"DOI":"10.12816\/0021403","type":"journal-article","created":{"date-parts":[[2016,6,15]],"date-time":"2016-06-15T16:01:01Z","timestamp":1466006461000},"page":"169-176","source":"Crossref","is-referenced-by-count":1,"title":["A Proposed Regulatory Framework for Islamic Microfinance : Adopting the IFSA 2013 Approach"],"prefix":"10.55188","volume":"7","author":[{"given":"Ibraheem Musa","family":"Tijani","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:38Z","timestamp":1672830338000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-78453"}},"issued":{"date-parts":[[2015]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2015]]}},"URL":"https:\/\/doi.org\/10.12816\/0021403","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2015]]}},{"indexed":{"date-parts":[[2026,5,14]],"date-time":"2026-05-14T02:38:46Z","timestamp":1778726326573,"version":"3.51.4"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2015]]},"DOI":"10.12816\/0021395","type":"journal-article","created":{"date-parts":[[2016,6,15]],"date-time":"2016-06-15T16:01:01Z","timestamp":1466006461000},"page":"25-48","source":"Crossref","is-referenced-by-count":9,"title":["Tazkiah Banks : A Future Model for the Establishment of Endowment - Based Business Start - Ups"],"prefix":"10.55188","volume":"7","author":[{"given":"Nedal","family":"El-Ghattis","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:38Z","timestamp":1672830338000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-78445"}},"issued":{"date-parts":[[2015]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2015]]}},"URL":"https:\/\/doi.org\/10.12816\/0021395","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2015]]}},{"indexed":{"date-parts":[[2026,6,3]],"date-time":"2026-06-03T07:22:28Z","timestamp":1780471348223,"version":"3.54.1"},"reference-count":36,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2020,12,28]],"date-time":"2020-12-28T00:00:00Z","timestamp":1609113600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2021,7,6]]},"abstract":"\nPurpose<\/jats:title>\nThe purpose of this study is to investigate the impact of Islamic microfinance services (IMFS) on women\u2019s empowerment in rural Bangladesh.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe study is based on a multi-stage sampling technique. The primary data are collected through a face-to-face survey of 389 women respondents who have received IMFS from the Islami Bank Bangladesh Limited. Cronbach\u2019s alpha test is conducted to test the reliability and internal consistency of collected data. Paired-sample tests, logit regression and proportion hypothesis tests are conducted to measure the impact of IMFS on women\u2019s empowerment. Descriptive and inferential statistics are used to interpret the data.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe study reveals that IMFS have led to structural transformation in the occupation dynamics of the respondents\u2019 families from agriculture to retail businesses. IMFS have had a significant positive impact on household income, savings and expenditure; have improved standard of living and human capital formation; and have enhanced all three dimensions of empowerment, namely, economic empowerment (ECEM), socio-cultural empowerment (SCEM) and familial empowerment (FLEM). Of them, ECEM and SCEM have positively contributed toward overall women\u2019s empowerment, while FLEM has a negative but insignificant impact on overall empowerment. The respondents\u2019 perception also supports the finding that IMFS have benefited rural women and empowered them.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe study is based on primary data. It leads to an inquiry as to whether women are dominant in familial affairs. If so, it may reduce the state of happiness and overall women\u2019s empowerment. There is a clear gap in the existing literature about this inquiry.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-11-2019-0174","type":"journal-article","created":{"date-parts":[[2020,12,31]],"date-time":"2020-12-31T07:43:43Z","timestamp":1609400623000},"page":"26-45","source":"Crossref","is-referenced-by-count":32,"title":["Role of Islamic microfinance in women\u2019s empowerment: evidence from Rural Development Scheme of Islami Bank Bangladesh Limited"],"prefix":"10.55188","volume":"13","author":[{"given":"Md. Saiful","family":"Islam","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2020,12,28]]},"reference":[{"key":"key2021072709523612500_ref001","doi-asserted-by":"crossref","unstructured":"Ahmed, H., Mohieldin, M., Verbeek, J. and Aboulmagd, F.W. (2015), \u201cOn the sustainable development goals and the role of Islamic finance (English)\u201d, Policy Research Working Paper No. WPS 7266, World Bank Group, Washington, DC.","DOI":"10.1596\/1813-9450-7266"},{"issue":"2","key":"key2021072709523612500_ref002","doi-asserted-by":"crossref","first-page":"111","DOI":"10.1111\/j.1753-1411.2012.00066.x","article-title":"Women\u2019s empowerment or disempowerment through microfinance: evidence from Bangladesh","volume":"6","year":"2012","journal-title":"Asian Social Work and Policy Review"},{"key":"key2021072709523612500_ref003","volume-title":"Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education","year":"1975","edition":"2nd ed."},{"key":"key2021072709523612500_ref004","article-title":"Key issues in women\u2019s access to and use of credit in the micro- and small-scale sector","volume-title":"Women in Micro- and Small-Scale Enterprise Development","year":"1995"},{"key":"key2021072709523612500_ref005","unstructured":"Cheston, S. and Khan, L. (2002), \u201cEmpowering women through microfinance\u201d, available at: www.chs.ubc.ca\/srilanka\/PDFs\/Empowering%20women%20through%20microfinance.pdf (accessed 19 November 2019)."},{"key":"key2021072709523612500_ref006","article-title":"Measuring transformation: assessing and improving the impact of microcredit","volume-title":"Microcredit Summit","year":"1999"},{"issue":"3","key":"key2021072709523612500_ref007","doi-asserted-by":"crossref","first-page":"297","DOI":"10.1007\/BF02310555","article-title":"Coefficient alpha and the internal structure of tests","volume":"16","year":"1951","journal-title":"Psychometrika"},{"issue":"37","key":"key2021072709523612500_ref008","first-page":"1","article-title":"Empowering women through microcredit in Bangladesh: an empirical study","volume":"7","year":"2019","journal-title":"International Journal of Financial Studies"},{"key":"key2021072709523612500_ref009","volume-title":"Increasing Access and Benefits for Women: Practices and Innovations among Microfinance Institutions- Survey Results","year":"2001"},{"key":"key2021072709523612500_ref010","volume-title":"The Assault That Failed: A Profile of Absolute Poverty in Six Villages of Bangladesh","year":"1991"},{"key":"key2021072709523612500_ref011","first-page":"132","article-title":"Gender dimensions of poverty","volume-title":"Rethinking Rural Poverty-Bangladesh as a Case Study","year":"1995"},{"key":"key2021072709523612500_ref012","volume-title":"Skill Training Program for Women in Bangladesh: Assessment and Directions","year":"2005"},{"key":"key2021072709523612500_ref013","volume-title":"Micro Finance and Empowerment from a Woman Perspective: The Effect of Micro-Finance on the Empowerment of Women in Bangladesh","year":"2008"},{"key":"key2021072709523612500_ref014","article-title":"Nature and impact of women\u2019s participation in economic activities in rural Bangladesh","volume-title":"CPD-IRRI Policy Brief 7","year":"2008"},{"key":"key2021072709523612500_ref015","unstructured":"IBBL (2019), Annual Reports, IBBL, Dhaka."},{"key":"key2021072709523612500_ref016","unstructured":"InM (2016), \u201cInterest rates in Bangladesh microcredit market\u201d, Policy brief, available at: http:\/\/inm.org.bd\/wp-content\/uploads\/2016\/01\/Interest-Rate.pdf (accessed 20 May 2019)."},{"issue":"2","key":"key2021072709523612500_ref017","first-page":"6","article-title":"Microcredit, financial inclusion, and women\u2019s empowerment nexus in Bangladesh","volume":"3","year":"2014","journal-title":"Journal of Asian Development Studies"},{"issue":"4","key":"key2021072709523612500_ref018","doi-asserted-by":"publisher","first-page":"4614","DOI":"10.1007\/s13132-020-00637-1","article-title":"Human capital and per capita income linkage in South Asia: a heterogeneous dynamic panel analysis","volume":"11","year":"2020","journal-title":"Journal of the Knowledge Economy"},{"issue":"3","key":"key2021072709523612500_ref019","doi-asserted-by":"crossref","first-page":"38","DOI":"10.22610\/imbr.v10i3.2462","article-title":"Microfinance for women\u2019s empowerment: a rural-urban analysis","volume":"10","year":"2018","journal-title":"Information Management and Business Review"},{"issue":"2","key":"key2021072709523612500_ref020","first-page":"4","article-title":"Microcredit\u2019s efficiency and social overhead capital: GO-NGO coordination","volume":"2","year":"2012","journal-title":"Journal of Business and Management Sciences"},{"issue":"3","key":"key2021072709523612500_ref021","doi-asserted-by":"crossref","first-page":"136","DOI":"10.9734\/AJAEES\/2015\/17356","article-title":"Socio-economic impact of IBBL microfinance on rural women in a selected district of Bangladesh","volume":"6","year":"2015","journal-title":"Asian Journal of Agricultural Extension, Economics and Sociology"},{"issue":"2","key":"key2021072709523612500_ref021a","first-page":"2223","article-title":"Women\u2019s empowerment through microcredit: a case study of district Gujrat, Pakistan","volume":"1","year":"2011","journal-title":"Academic Research International"},{"key":"key2021072709523612500_ref022","volume-title":"Research Methodology, Methods, and Techniques","year":"2004","edition":"2nd revised edi"},{"key":"key2021072709523612500_ref023","volume-title":"Impact of Major Ongoing WID Projects on Rural Women","year":"2000"},{"key":"key2021072709523612500_ref024","article-title":"Poverty reduction through microcredit","year":"2003"},{"key":"key2021072709523612500_ref025","volume-title":"Statistics for Management","year":"2007","edition":"7th ed."},{"key":"key2021072709523612500_ref026","article-title":"The role of micro-credit in poverty reduction and promoting gender equity: a discussion paper","volume-title":"Strategic Policy and Planning Division, Asia Branch","year":"1997"},{"key":"key2021072709523612500_ref027","unstructured":"Mayoux, L. and Hartl, M. (2009), \u201cWomen\u2019s empowerment through sustainable microfinance: rethinking best practice\u201d, available at: https:\/\/citeseerx.ist.psu.edu\/viewdoc\/download?doi=10.1.1.121.2948&rep=rep1&type=pdf (accessed 1 November 2019)."},{"key":"key2021072709523612500_ref028","volume-title":"Schooling, Experience and Earnings","year":"1974"},{"key":"key2021072709523612500_ref029","article-title":"Role of microfinance in empowerment of female population of Bahawalpur district","volume-title":"International Conference on Economics and Finance Research","year":"2011"},{"issue":"2","key":"key2021072709523612500_ref030","doi-asserted-by":"publisher","first-page":"37","DOI":"10.3390\/ijfs8020037","article-title":"The intersection of Islamic microfinance and women\u2019s empowerment: a case study of Baitul Maal wat Tamwil in Indonesia","volume":"8","year":"2020","journal-title":"International Journal of Financial Studies"},{"issue":"2","key":"key2021072709523612500_ref031","doi-asserted-by":"crossref","first-page":"168","DOI":"10.1108\/17538391011054390","article-title":"Impact of microfinance of IBBL on the rural poor\u2019s livelihood in Bangladesh: an empirical study","volume":"3","year":"2010","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"key":"key2021072709523612500_ref032","volume-title":"Rural Women in Poverty: NGO Interventions for Poverty Alleviation","year":"1996"},{"issue":"3","key":"key2021072709523612500_ref033","first-page":"218","article-title":"Income generating activities through microcredit and women\u2019s socio-economic empowerment: a study of district Kasur, Pakistan","volume":"1","year":"2011","journal-title":"Academic Research International"},{"key":"key2021072709523612500_ref034","volume-title":"Women, Development and the Environment: A Method to the Empowerment of Poor Women","year":"2004"},{"key":"key2021072709523612500_ref035","unstructured":"UNFPA (2007), \u201cExploring linkages: women\u2019s empowerment, microfinance health education, United Nations population fund\u201d, available at: www.unfpa.org\/gender\/micro\/htm (accessed 19 November 2019)."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-11-2019-0174\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-11-2019-0174\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:13Z","timestamp":1672830373000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-11-2019-0174\/full\/html"}},"issued":{"date-parts":[[2020,12,28]]},"references-count":36,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2020,12,28]]},"published-print":{"date-parts":[[2021,7,6]]}},"alternative-id":["10.1108\/IJIF-11-2019-0174"],"URL":"https:\/\/doi.org\/10.1108\/ijif-11-2019-0174","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2020,12,28]]}},{"indexed":{"date-parts":[[2026,8,4]],"date-time":"2026-08-04T18:10:38Z","timestamp":1785867038627,"version":"3.56.0"},"reference-count":23,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2017,7,10]],"date-time":"2017-07-10T00:00:00Z","timestamp":1499644800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,7,10]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to propose cash waqf<\/jats:italic> (endowment) to develop a conceptual model that can be utilised to extend microfinance for refugees.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nQualitative method is used in this research. An extensive review of the literature has been conducted. Latest literature on refugees, microfinance has been critically examined beside the current cash waqf<\/jats:italic> models.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nEmpirical studies have shown that many refugees are equipped with marketable skills and talents that can be utilised to improve their socio-economic situations. The proposed model \u2013 cash waqf<\/jats:italic> refugee microfinance fund (CWRMF) \u2013 is structured to extend microfinance to potential refugee micro entrepreneurs. To address the lack of collateral, which is a requirement to gain any microfinance, CWRMF has been incorporated with a takaful unit (cooperation) by which refugees may guarantee each other. Additionally, the model has also been structured to address the challenge of sustainability of the institution that would provide microfinance. Hence, a reserve fund has also been integrated into the model.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nCWRMF represents a potential model to be implemented by humanitarian non-governmental organisations (NGOs) and aid agencies to support livelihood of refugees in particular for Muslim refugees. Positive outcome is expected from the implementation of this model. This is because of the various advantages of microfinance programs not only on refugees but also on concerned NGOs, host populations and donor parties. Additionally, this paper is a set of primarily thoughts aims to open the door wider for more researchers to explore the potential of cash waqf<\/jats:italic> as one of the instruments to finance refugee microenterprises and business activities.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nRecently cash waqf<\/jats:italic> has been into several models for socio-economic development and poverty alleviation. This paper is proposing cash waqf<\/jats:italic> as a source for a microfinance fund that can contribute in the improvement of socio-economic situations of millions of refugees around the world.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-07-2017-007","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:18Z","timestamp":1545304818000},"page":"81-86","source":"Crossref","is-referenced-by-count":36,"title":["Towards the establishment of cash waqf<\/i> microfinance fund for refugees"],"prefix":"10.55188","volume":"9","author":[{"given":"Omar Ahmad","family":"Kachkar","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020120621182810500_ref001","unstructured":"Abdel Mohsin, M. (2007), \u201cFinancial cash-waqf institution\u201d, paper presented at the International Course on Islamic Financial Products: Principles and Applications, Organized by UiTM and IRTI\/IDB, Kuala Lumpur."},{"issue":"2","key":"key2020120621182810500_ref002","first-page":"27","article-title":"Financing microenterprises: an analytical study of Islamic microfinance institutions","volume":"9","year":"2002","journal-title":"Islamic Economic Studies"},{"key":"key2020120621182810500_ref003","unstructured":"Ahmed, H. (2007), \u201cWaqf-based microfinance: realizing the social role of Islamic finance\u201d, paper presented at the International Seminar on Integrating Awqaf in the Islamic Financial Sector, Singapore, 6-7 March."},{"key":"key2020120621182810500_ref004","unstructured":"Ahmed, U. (2013), \u201cDeveloping a waqf\u2013based model for modern healthcare services in Uganda\u201d, PhD Thesis, International Islamic University Malaysia."},{"key":"key2020120621182810500_ref005","volume-title":"\u1e62a\u1e25\u012b\u1e25 al-Bukh\u0101r\u012b","year":"2002"},{"key":"key2020120621182810500_ref006","volume-title":"Integration of Waqf and Islamic Microfinance for Poverty Reduction: Case Studies of Malaysia, Indonesia and Bangladesh","year":"2015"},{"key":"key2020120621182810500_ref007","unstructured":"Asmy, M. (2015), \u201cThe financial and human capital development challenges of micro enterprises in Malaysia and the prospects for integrated cash waqf micro enterprise investment (ICWME-I) model\u201d, PhD Thesis, International Islamic University Malaysia."},{"key":"key2020120621182810500_ref008","first-page":"835","article-title":"Cash waqf models for financing in education","year":"2013"},{"issue":"3","key":"key2020120621182810500_ref009","doi-asserted-by":"crossref","first-page":"313","DOI":"10.1163\/1568520952600407","article-title":"Cash waqfs of bursa, 1555-1823","volume":"38","year":"1995","journal-title":"Journal of the Economic and Social History of the Orient"},{"key":"key2020120621182810500_ref010","unstructured":"Cizakca, M. (2011), \u201cWaqf: its contribution and basic operational structure\u201d, Powerpoint presentation, INCEIF, available at: www.iqra.org.my\/slide\/Iqra%20Waqf%20101.pptx (accessed 21 March 2014)."},{"key":"key2020120621182810500_ref011","unstructured":"El-Gari, M.A. (2004), \u201cThe qard hassan bank\u201d, paper presented at the International Seminar on Nonbank Financial Institutions: Islamic Alternatives, Kuala Lumpur, 1-3 March 2004."},{"issue":"5","key":"key2020120621182810500_ref012","first-page":"381","article-title":"Towards an Islamic social (waqf) bank","volume":"2","year":"2011","journal-title":"International Journal of Trade, Economics and Finance"},{"key":"key2020120621182810500_ref013","unstructured":"Hassan, M.K. and Ashraf, A. (2010), \u201cAn integrated poverty alleviation model combining zakat, awqaf and microfinance\u201d, paper presented at the Seventh International Conference \u2013 the Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, 6-7 January."},{"issue":"1","key":"key2020120621182810500_ref014","first-page":"1","article-title":"Cash waqf: an innovative instrument for economic development","volume":"6","year":"2013","journal-title":"International Review of Social Sciences and Humanities"},{"key":"key2020120621182810500_ref015","volume-title":"al-Mudawwanah al-kubr\u0101","year":"1994"},{"key":"key2020120621182810500_ref016","article-title":"Shari\u2019ah and historical aspects of zakah and awqaf","volume-title":"Background paper prepared for Islamic Research and Training Institute","year":"2004"},{"key":"key2020120621182810500_ref017","unstructured":"Lahsasna, A. (2010), \u201cThe role of cash-waqf in financing micro and medium-sized enterprises\u201d, paper presented at the Seventh International Conference on the Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, 6-7 January."},{"key":"key2020120621182810500_ref018","unstructured":"Masyita, D. (2012), \u201cSustainable Islamic microfinance institutions in Indonesia: an exploration of demand & supply factors and the role of waqf\u201d, PhD Thesis, Durham University, available at: http:\/\/etheses.dur.ac.uk\/5942\/1\/Dian_Masyita-PhD_Thesis-2012.pdf?DDD35+ (accessed 19 February 2017)."},{"key":"key2020120621182810500_ref019","unstructured":"Nadwi, M.A. and Kroessin, M. (2013), \u201cCash waqf: exploring concepts, jurisprudential boundaries and applicability to contemporary Islamic microfinance\u201d, Islamic Relief Worldwide Working Paper Series no. 2013-0x, Birmingham."},{"key":"key2020120621182810500_ref020","unstructured":"Tohirin, A. (2010), \u201cThe cash waqf for empowering the small businesses\u201d, paper presented at the Seventh International Conference on the Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, 6-7 January."},{"key":"key2020120621182810500_ref021","volume-title":"UNHCR Global Trends: Forced Displacement in 2014","author":"UNHCR","year":"2015"},{"key":"key2020120621182810500_ref022","volume-title":"UNHCR Global Trends: Forced Displacement in 2015","author":"UNHCR","year":"2016"},{"key":"key2020120621182810500_ref023","unstructured":"Zarka, M.A. (2007), \u201cLeveraging philanthropy: monetary waqf for micro finance\u201d, paper presented at the Symposium towards an Islamic Micro-Finance, Harvard Law School, Massachusetts, 14 April."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-007\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-007\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:42Z","timestamp":1672830342000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-007\/full\/html"}},"issued":{"date-parts":[[2017,7,10]]},"references-count":23,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2017,7,10]]}},"alternative-id":["10.1108\/IJIF-07-2017-007"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2017-007","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,7,10]]}},{"indexed":{"date-parts":[[2026,8,27]],"date-time":"2026-08-27T00:23:42Z","timestamp":1787790222785,"version":"build-2784847793"},"reference-count":36,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2019,6,17]],"date-time":"2019-06-17T00:00:00Z","timestamp":1560729600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,6,17]]},"abstract":"\nPurpose<\/jats:title>\nIslamic banks have significantly different balance sheets from their conventional counterparts, leading to different implications in relation to liquidity creation compared to conventional banks. This work, first, investigates the liquidity creation of conventional and Islamic banks in Middle Eastern and North African (MENA) countries between 2011 and 2016. It then tests the relationship between liquidity creation and performance of these banks.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nIt uses the data of 491 commercial banks across 18 MENA countries between 2011 and 2016. The analysis is based on panel data techniques.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe banks created US$18.596 trillion of liquidity, about 28.4% of total assets. Conventional banks created more liquidity compared with Islamic banks. Nevertheless, Islamic banks created more liquidity per asset compared with conventional banks. The regression analysis revealed a significant and negative correlation between liquidity creation and performance of the banks using return on average equity (ROAE) measure. However, no significant relationship is observed between liquidity creation and return on average assets (ROAA) of MENA banks. Moreover, there is no difference between Islamic and conventional banks in the relation between liquidity creation and bank performance.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThe data are limited to the period 2011-2016; the period of this study was selected based on yearly data availability from the data source. Accounting measures were used to study the effect of liquidity creation on bank profitability, and the market-based measures were excluded, as there is no uniform sources in these countries that can be used to collect market-based data.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nBank managers must reach a trade-off between the advantages and disadvantages of liquidity creation, as well as consider the negative relationship between liquidity creation and bank performance when making their decisions.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nFirst, to the best of the authors\u2019 knowledge, this work is the first to analyse the relationship between the liquidity creation and performance of conventional and Islamic banks in MENA. Second, this study uses a sample of Islamic and conventional banks in MENA that have detailed information on the Orbis Bank Focus dataset, which is the most comprehensive database of commercial banks in the MENA region.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-01-2018-0009","type":"journal-article","created":{"date-parts":[[2019,4,2]],"date-time":"2019-04-02T08:59:01Z","timestamp":1554195541000},"page":"27-45","source":"Crossref","is-referenced-by-count":49,"title":["Liquidity creation and bank performance: evidence from MENA"],"prefix":"10.55188","volume":"11","author":[{"given":"Ahmad","family":"Sahyouni","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Man","family":"Wang","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"issue":"4","key":"key2020021416293295700_ref001","doi-asserted-by":"crossref","first-page":"378","DOI":"10.1108\/IJMF-07-2017-0148","article-title":"Determinants of bank profitability before, during, and after the financial crisis","volume":"14","year":"2018","journal-title":"International Journal of Managerial Finance"},{"issue":"3b","key":"key2020021416293295700_ref002","doi-asserted-by":"crossref","first-page":"453","DOI":"10.1353\/mcb.2004.0038","article-title":"Competition and financial stability","volume":"36","year":"2004","journal-title":"Journal of Money, Credit, and Banking"},{"issue":"1","key":"key2020021416293295700_ref003","doi-asserted-by":"crossref","first-page":"55","DOI":"10.1016\/S0378-4266(96)00025-8","article-title":"Commercial bank net interest margins, default risk, interest-rate risk, and off-balance sheet banking","volume":"21","year":"1997","journal-title":"Journal of Banking and Finance"},{"issue":"2","key":"key2020021416293295700_ref004","doi-asserted-by":"crossref","first-page":"121","DOI":"10.1016\/j.intfin.2006.07.001","article-title":"Bank-specific, industry-specific and macroeconomic determinants of bank profitability","volume":"18","year":"2008","journal-title":"Journal of International Financial Markets, Institutions and Money"},{"issue":"2","key":"key2020021416293295700_ref005","doi-asserted-by":"crossref","first-page":"433","DOI":"10.1016\/j.jbankfin.2012.09.016","article-title":"Islamic vs conventional banking: business model, efficiency and stability","volume":"37","year":"2013","journal-title":"Journal of Banking and Finance"},{"issue":"9","key":"key2020021416293295700_ref006","doi-asserted-by":"crossref","first-page":"3779","DOI":"10.1093\/rfs\/hhn104","article-title":"Bank liquidity creation","volume":"22","year":"2009","journal-title":"Review of Financial Studies"},{"issue":"1","key":"key2020021416293295700_ref007","doi-asserted-by":"crossref","first-page":"146","DOI":"10.1016\/j.jfineco.2013.02.008","article-title":"How does capital affect bank performance during financial crises?","volume":"109","year":"2013","journal-title":"Journal of Financial Economics"},{"key":"key2020021416293295700_ref008","volume-title":"Bank Liquidity Creation and Financial Crises","year":"2015"},{"key":"key2020021416293295700_ref010","doi-asserted-by":"crossref","unstructured":"Berger, A.N., Boubakri, N., Guedhami, O. and Li, X. (2018), \u201cLiquidity creation performance and financial stability consequences of islamic banking: evidence from a multinational study\u201d, available at: https:\/\/ssrn.com\/abstract=3278032 or http:\/\/dx.doi.org\/10.2139\/ssrn.3278032 (accessed 8 January 2019).","DOI":"10.2139\/ssrn.3278032"},{"issue":"7","key":"key2020021416293295700_ref009","first-page":"2283","article-title":"Internationalization and bank risk","volume":"63","year":"2016","journal-title":"Management Science"},{"key":"key2020021416293295700_ref011","unstructured":"Bordeleau, \u00c9. and Graham, C. 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(2009), \u201cThe determinants of commercial bank profitability in Sub-Saharan Africa\u201d, International Monetary Fund Working Paper, African Department, International Monetary Fund, January, available at: www.imf.org\/external\/pubs\/ft\/wp\/2009\/wp0915.pdf (accessed 20 December 2018)."},{"issue":"2","key":"key2020021416293295700_ref018","doi-asserted-by":"crossref","first-page":"285","DOI":"10.2747\/1539-7216.53.2.285","article-title":"Bank liquidity creation in Russia","volume":"53","year":"2012","journal-title":"Eurasian Geography and Economics"},{"issue":"3","key":"key2020021416293295700_ref019","doi-asserted-by":"crossref","first-page":"363","DOI":"10.1111\/j.1467-9957.2004.00397.x","article-title":"The profitability of European banks: a cross-sectional and dynamic panel analysis","volume":"72","year":"2004","journal-title":"The Manchester School"},{"key":"key2020021416293295700_ref020","unstructured":"Hasan, M., and Dridi, J. (2010), \u201cThe effects of the global crisis on Islamic and conventional banks: a comparative study\u201d, International Monetary Fund Working Paper, Monetary and Capital Markets Department and Middle East and Central Asia Department, International Monetary Fund, September, available at: www.imf.org\/external\/pubs\/ft\/wp\/2010\/wp10201.pdf (accessed 20 December 2018)."},{"issue":"1","key":"key2020021416293295700_ref021","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1086\/250001","article-title":"Private and public supply of liquidity","volume":"106","year":"1998","journal-title":"Journal of Political Economy"},{"issue":"7","key":"key2020021416293295700_ref022","doi-asserted-by":"crossref","first-page":"2127","DOI":"10.1016\/j.jbankfin.2006.07.013","article-title":"Ownership structure, risk and performance in the European banking industry","volume":"31","year":"2007","journal-title":"Journal of Banking and Finance"},{"issue":"1","key":"key2020021416293295700_ref023","doi-asserted-by":"crossref","first-page":"33","DOI":"10.1111\/1540-6261.00415","article-title":"Banks as liquidity providers: an explanation for the coexistence of lending and deposit-taking","volume":"57","year":"2002","journal-title":"The Journal of Finance"},{"issue":"3","key":"key2020021416293295700_ref024","doi-asserted-by":"crossref","first-page":"805","DOI":"10.1016\/j.jebo.2010.09.015","article-title":"How \u2018Islamic\u2019 is Islamic banking?","volume":"76","year":"2010","journal-title":"Journal of Economic Behavior and Organization"},{"issue":"11","key":"key2020021416293295700_ref025","doi-asserted-by":"crossref","first-page":"4144","DOI":"10.1016\/j.jbankfin.2013.07.017","article-title":"The Basel III net stable funding ratio and bank net interest margins","volume":"37","year":"2013","journal-title":"Journal of Banking and Finance"},{"key":"key2020021416293295700_ref026","unstructured":"Kohlscheen, E., Murcia Pab\u00f3n, A. and Contreras, J. (2018), \u201cDeterminants of bank profitability in emerging markets\u201d, BIS Working Paper No. 686, available at: https:\/\/ssrn.com\/abstract=3098196 (accessed 20 December 2018)."},{"issue":"3","key":"key2020021416293295700_ref027","doi-asserted-by":"crossref","first-page":"188","DOI":"10.1016\/j.gfj.2013.10.004","article-title":"Liquidity creation and bank capital structure in China","volume":"24","year":"2013","journal-title":"Global Finance Journal"},{"issue":"1","key":"key2020021416293295700_ref028","doi-asserted-by":"crossref","first-page":"86","DOI":"10.1108\/JFRA-05-2015-0060","article-title":"The determinants of bank profitability: empirical evidence from European banking sector","volume":"14","year":"2016","journal-title":"Journal of Financial Reporting and Accounting"},{"key":"key2020021416293295700_ref029","unstructured":"Mohammad, S. (2014), \u201cLiquidity creation and liquidity risk exposures in the banking sector: a comparative exploration between Islamic, conventional and hybrid banks in the Gulf Corporation Council Region\u201d, doctoral thesis, Durham University, Durham, available at: http:\/\/etheses.dur.ac.uk\/10890\/ (accessed 21 December 2018)."},{"issue":"6","key":"key2020021416293295700_ref030","doi-asserted-by":"crossref","first-page":"1173","DOI":"10.1016\/0378-4266(92)90065-8","article-title":"Determinants of European bank profitability: a note","volume":"16","year":"1992","journal-title":"Journal of Banking and Finance"},{"issue":"2","key":"key2020021416293295700_ref031","doi-asserted-by":"crossref","first-page":"222","DOI":"10.1016\/j.ribaf.2006.03.007","article-title":"Factors influencing the profitability of domestic and foreign commercial banks in the European union","volume":"21","year":"2007","journal-title":"Research in International Business and Finance"},{"key":"key2020021416293295700_ref032","doi-asserted-by":"crossref","unstructured":"Rauch, C., Steffen, S., Hackethal, A. and Tyrell, M. (2010), \u201cDeterminants of bank liquidity creation\u201d, available at: https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1343595 (accessed 21 December 2018).","DOI":"10.2139\/ssrn.1343595"},{"issue":"2","key":"key2020021416293295700_ref033","first-page":"61","article-title":"The determinants of bank profitability: does liquidity creation matter?","volume":"2","year":"2018","journal-title":"Journal of Economics and Financial Analysis"},{"issue":"3","key":"key2020021416293295700_ref034","doi-asserted-by":"crossref","first-page":"209","DOI":"10.1016\/0378-4266(79)90016-5","article-title":"The relation between commercial bank profit rates and banking concentration in Canada, Western Europe, and Japan","volume":"3","year":"1979","journal-title":"Journal of Banking and Finance"},{"key":"key2020021416293295700_ref035","unstructured":"Statista (2019), \u201cValue of islamic banking assets worldwide 2017, by region (in billion US dollars)\u201d, available at: www.statista.com\/statistics\/649218\/islamic-banking-assets-by-region\/ (accessed 8 January 2019)."},{"issue":"C","key":"key2020021416293295700_ref036","first-page":"98","article-title":"Liquidity creation, regulatory capital, and bank profitability","volume":"48","year":"2016","journal-title":"International Review of Financial Analysis"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0009\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0009\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:55Z","timestamp":1672830355000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-01-2018-0009\/full\/html"}},"issued":{"date-parts":[[2019,6,17]]},"references-count":36,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2019,6,17]]}},"alternative-id":["10.1108\/IJIF-01-2018-0009"],"URL":"https:\/\/doi.org\/10.1108\/ijif-01-2018-0009","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2019,6,17]]}},{"indexed":{"date-parts":[[2026,8,28]],"date-time":"2026-08-28T00:15:01Z","timestamp":1787876101825,"version":"build-2784847793"},"reference-count":37,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2017,7,10]],"date-time":"2017-07-10T00:00:00Z","timestamp":1499644800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,7,10]]},"abstract":"\nPurpose<\/jats:title>\nSeveral indigenous credit and savings schemes have been accredited recently in developing countries for the benefit of households and entrepreneurs alike. Famous among them are the Rotating Savings and Credit Associations (ROSCAs) that exist in almost all continents currently. The rapid development of ROSCAs and their varied structures in many countries have been the subject of numerous studies. What has not been thoroughly analysed is the optimum size of these associations and the fact that lending and borrowing is without interest. The aim of this paper is to present a model that would determine the optimum size of ROSCAs and deal with the following issues: how the group size varies with changes in the income level of the members, the demand for the loan, the size of the collected loan and its duration. Further, the question of whether or not lending to the association in return for obtaining larger sums is a violation of the qar\u1e0d<\/jats:italic> (loan) contract is dealt with, and several Shar\u012b\u02bfah compatible formulations are provided.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nEconomic analysis has been applied to show the optimum size of Qar\u1e0d \u1e24asan<\/jats:italic> Associations (QHAs), which are the Shar\u012b\u02bfah-compliant equivalent of ROSCAs, and the Shar\u012b\u02bfah rules of the qar\u1e0d<\/jats:italic> contract to illustrate the legitimacy of group lending.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe major findings of this study are determination of the optimum size of QHAs, the factors that affect the size and suggestion of alternative legal forms for group financing.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nInaccessibility to sources of data to test the hypothesis that has been put forth is the main difficulty encountered when conducting research on the subject.<\/jats:p>\n<\/jats:sec>\n\nPractical implications<\/jats:title>\nThe paper concludes that the development of informal interest-free ROSCAs in both Muslim and non-Muslim countries is an efficient informal microfinance scheme and that it is compatible with Shar\u012b\u02bfah rules.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThe optimum size of ROSCAs and QHAs has been presented in this paper.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-07-2017-003","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:18Z","timestamp":1545304818000},"page":"15-26","source":"Crossref","is-referenced-by-count":9,"title":["The optimum size of rotating qar\u1e0d \u1e25asan <\/i> savings and credit associations"],"prefix":"10.55188","volume":"9","author":[{"given":"Seyed Kazem","family":"Sadr","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020120617491829700_ref001","volume-title":"ISRA Research Paper No. 64: benefitting from a loan (qar\u1e0d) contract: an analysis of juristic opinions","year":"2014"},{"key":"key2020120617491829700_ref002","article-title":"Mobilizing household savings through rural financial markets","volume-title":"Rural Financial Markets in Developing Countries: Their Use and Abuse","year":"1978"},{"issue":"3","key":"key2020120617491829700_ref003","first-page":"219","article-title":"Rotating savings and credit associations in Bolivia","volume":"13","year":"1978","journal-title":"Savings and Development"},{"issue":"3","key":"key2020120617491829700_ref004","first-page":"473","article-title":"Chronic poverty in South Africa: incidence, causes and policies","volume":"31","year":"2001","journal-title":"World Development"},{"issue":"4","key":"key2020120617491829700_ref005","first-page":"129","article-title":"An analytical review on the concept, financial practices and Shari\u2019ah compatibility of rotating savings and credit associations (ROSCAs)","volume":"10","year":"2014","journal-title":"Journal of Islamic Economics, Banking and Finance"},{"issue":"1","key":"key2020120617491829700_ref006","doi-asserted-by":"crossref","first-page":"120","DOI":"10.1016\/j.jdeveco.2005.09.005","article-title":"ROSCAs as financial agreements to cope with self-control problems","volume":"82","year":"2007","journal-title":"Journal of Development Economics"},{"issue":"3","key":"key2020120617491829700_ref007","doi-asserted-by":"crossref","first-page":"963","DOI":"10.1162\/003355302760193931","article-title":"The economics of ROSCAs and intrahousehold resource allocation","volume":"117","year":"2002","journal-title":"The Quarterly Journal of Economics"},{"issue":"1","key":"key2020120617491829700_ref008","doi-asserted-by":"crossref","first-page":"14","DOI":"10.1016\/j.jdeveco.2008.09.003","article-title":"Enforcement in informal saving groups","volume":"90","year":"2009","journal-title":"Journal of Development Economics"},{"key":"key2020120617491829700_ref009","volume-title":"The Economics of Microfinance","year":"2010"},{"key":"key2020120617491829700_ref010","unstructured":"Besley, T., Coate, S. and Loury, G. 1992, \u201cOn the allocative performance of rotating savings and credit associations\u201d, Discussion Paper 163, Princeton University, Princeton, NJ."},{"issue":"4","key":"key2020120617491829700_ref011","first-page":"792","article-title":"The economics of rotating savings and credit associations","volume":"83","year":"1993","journal-title":"The American Economic Review"},{"issue":"4","key":"key2020120617491829700_ref012","doi-asserted-by":"crossref","first-page":"701","DOI":"10.2307\/2297915","article-title":"Rotating savings and credit associations, credit markets and efficiency","volume":"61","year":"1994","journal-title":"The Review of Economic Studies"},{"key":"key2020120617491829700_ref015","first-page":"77","article-title":"Mobilizing cash for business: women in rotating Susu clubs in Ghana","volume-title":"Money-Go-Rounds: The Importance of Rotating Savings and Credit Associations for Women","year":"1995"},{"issue":"4","key":"key2020120617491829700_ref013","first-page":"181","article-title":"Indigenous savings and credit societies in the third word: a message","volume":"1","year":"1977","journal-title":"Saving and Development"},{"issue":"3","key":"key2020120617491829700_ref014","doi-asserted-by":"crossref","first-page":"371","DOI":"10.1016\/0305-750X(94)00141-K","article-title":"Rotating and accumulating savings and credit associations: a development perspective","volume":"23","year":"1995","journal-title":"World Development"},{"issue":"1","key":"key2020120617491829700_ref016","doi-asserted-by":"crossref","first-page":"207","DOI":"10.1016\/S0304-3878(98)00059-5","article-title":"The role of ROSCAs: lumpy durables or event insurance","volume":"56","year":"1998","journal-title":"Journal of Development Economics"},{"issue":"4","key":"key2020120617491829700_ref017","doi-asserted-by":"crossref","first-page":"979","DOI":"10.1086\/343134","article-title":"Savings and accumulation strategies of urban market women in Harare, Zimbabwe","volume":"50","year":"2002","journal-title":"Economic Development and Cultural Change"},{"key":"key2020120617491829700_ref018","volume-title":"A History of Philanthrophic Foundations: The Islamic World from Seventh Century to the Present","year":"2000"},{"key":"key2020120617491829700_ref019","volume-title":"Portfolios of the Poor: How the World\u2019s Poor Live on $2 a Day","year":"2009"},{"issue":"2","key":"key2020120617491829700_ref020","article-title":"Qar\u1e0d \u1e24asan, Wadiah\/Amanah and bank deposits: applications and misapplications of some concepts in Islamic banking","volume":"25","year":"2011","journal-title":"Arab Law Quarterly"},{"issue":"2","key":"key2020120617491829700_ref021","doi-asserted-by":"crossref","first-page":"251","DOI":"10.1086\/508716","article-title":"You can\u2019t save alone: commitment in rotating savings and credit associations in Kenya","volume":"55","year":"2007","journal-title":"Economic Development and Cultural Change"},{"issue":"1","key":"key2020120617491829700_ref023","doi-asserted-by":"crossref","first-page":"173","DOI":"10.1016\/S0304-3878(99)00040-1","article-title":"The economics of rotating saving and credit associations: evidence from the Jamaican \u2018partner","volume":"60","year":"1999","journal-title":"Journal of Development Economics"},{"issue":"1","key":"key2020120617491829700_ref022","doi-asserted-by":"crossref","first-page":"76","DOI":"10.1108\/H-10-2013-0068","article-title":"The challenge in poverty alleviation: role of Islamic microfinance and social capital","volume":"30","year":"2014","journal-title":"Humanomics"},{"key":"key2020120617491829700_ref024","unstructured":"Khan, M. and Lightfoot, G. (2013), \u201cROSCAs: alternative funding for sustainable enterprise\u201d, available at: www.uclan.ac.uk\/research\/explore\/groups\/assets\/igfd_roscas_alternative_funding_for_sustainable_enterprise.pdf (accessed 27 March 2017)."},{"issue":"7","key":"key2020120617491829700_ref025","doi-asserted-by":"crossref","first-page":"1299","DOI":"10.1016\/S0305-750X(99)00049-2","article-title":"Rotating saving and credit associations in rural East Africa","volume":"27","year":"1999","journal-title":"World Development"},{"issue":"1","key":"key2020120617491829700_ref026","doi-asserted-by":"crossref","first-page":"143","DOI":"10.1016\/S0304-3878(99)00039-5","article-title":"Rotating savings and credit associations: the choice between random and bidding allocation of funds","volume":"60","year":"1999","journal-title":"Journal of Development Economics"},{"key":"key2020120617491829700_ref027","volume-title":"Islamic (micro) Finance: Culture, Context, Promise, Challenges","year":"2015"},{"issue":"1","key":"key2020120617491829700_ref028","doi-asserted-by":"crossref","first-page":"45","DOI":"10.1016\/S0304-3878(96)00425-7","article-title":"The anatomy of an informal financial market: ROSCA participation in Taiwan","volume":"51","year":"1996","journal-title":"Journal of Development Economics"},{"key":"key2020120617491829700_ref029","volume-title":"Islamic Finance for Micro and Medium Enterprises","year":"2008"},{"key":"key2020120617491829700_ref030","first-page":"351","article-title":"Informal financial services in Dhaka\u2019s slums","volume-title":"Who Needs Credit? Poverty and Finance in Bangladesh","year":"1997"},{"key":"key2020120617491829700_ref031","volume-title":"The Poor and Their Money","year":"2000"},{"issue":"5","key":"key2020120617491829700_ref032","first-page":"258","article-title":"Selecting high-income generating activities for micro-entrepreneurs: the case study of Amanah Ikhtiar Malaysia","volume":"1","year":"2011","journal-title":"International Journal of Humanities and Social Sciences"},{"key":"key2020120617491829700_ref033","article-title":"Qar\u1e0d \u1e24asan financing in Islamic Banks","volume-title":"ISRA International Journal of Islamic Finance","year":"2014"},{"key":"key2020120617491829700_ref034","first-page":"199","article-title":"ROSCAs among South Asians in Oxford","volume-title":"Money-Go-Rounds: The Importance of Rotating Savings and Credit Associations for Women","year":"1995"},{"key":"key2020120617491829700_B34a","article-title":"ROSCAs as financial agreements to cope with self-control problems","volume-title":"Journal of Development Economics","year":"2007"},{"key":"key2020120617491829700_ref035","volume-title":"Leveraging Islamic Finance for Small and Medium Enterprises (SMEs): World Bank-Islamic Development Bank Policy Report","author":"World Bank","year":"2015"},{"issue":"2","key":"key2020120617491829700_ref036","article-title":"The potential use of Qar\u1e0d \u1e24asan in Islamic microfinance","volume":"5","year":"2013","journal-title":"ISRA International Journal of Islamic Finance"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-003\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-003\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:40Z","timestamp":1672830340000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-003\/full\/html"}},"issued":{"date-parts":[[2017,7,10]]},"references-count":37,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2017,7,10]]}},"alternative-id":["10.1108\/IJIF-07-2017-003"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2017-003","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,7,10]]}},{"indexed":{"date-parts":[[2025,10,21]],"date-time":"2025-10-21T03:29:50Z","timestamp":1761017390413},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2010,12,15]],"date-time":"2010-12-15T00:00:00Z","timestamp":1292371200000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"abstract":"A musharakah contract is a joint venture between two or more parties and the profit is shared according to the agreed profit-sharing ratio. The new musharakah model internalises this concept and takes into account the investment of two parties, the rate of profit, as well as two profit-sharing rates. At present, this model is the only model that uses two profit-sharing rates to ensure justice in a joint venture investment. This can create opportunities to generate other Islamic investment or banking products that will attract more foreign investors who are keen on mush\u2000rakah products. Apart from this, this can initiate other researches and collaborations in Islamic banking\/financing and investment, thus enhancing the Islamic investment status. The system of the musharakah model can definitely be commercialised.<\/jats:p>","DOI":"10.55188\/ijif.v2i2.109","type":"journal-article","created":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:20:45Z","timestamp":1673230845000},"page":"25-36","source":"Crossref","is-referenced-by-count":9,"title":["New Musharakah Model in Managing Islamic Investment"],"prefix":"10.55188","volume":"2","author":[{"given":"Maheran","family":"Mohd Jaffar","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2010,12,15]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/download\/109\/79","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/download\/109\/79","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,9]],"date-time":"2023-01-09T02:20:46Z","timestamp":1673230846000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.org\/index.php\/ijif\/article\/view\/109"}},"issued":{"date-parts":[[2010,12,15]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2010,12,15]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v2i2.109","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2010,12,15]]}},{"indexed":{"date-parts":[[2026,6,18]],"date-time":"2026-06-18T05:56:50Z","timestamp":1781762210823,"version":"3.54.5"},"reference-count":49,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2018,6,19]],"date-time":"2018-06-19T00:00:00Z","timestamp":1529366400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2018,6,19]]},"abstract":"Purpose<\/jats:title>This paper aims to explore the opinions and recommendations of various experts on the integrated cashwaqf<\/jats:italic>micro enterprise investment (ICWME-I) model, particularly in terms of its suitability, applicability and prospects in the market.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>The research involves primary data which are collected from semi-structured interviews conducted with experts from various backgrounds. Thematic analysis was used to examine the data.<\/jats:p><\/jats:sec>Findings<\/jats:title>The experts support the suitability of the ICWME-I model in providing financial services to micro enterprises. They highlight the importance of establishing, managing and operating ICWME-I model under the aegis of the State Islamic Religious Council in Malaysia or the corporate sector. They further emphasize that the characteristics of micro enterprises, the element of sustainable funding, the importance of proper management and administration, legal matters and public awareness are key factors that influence the sustainability of the ICWME-I model.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This paper adds to the literature onwaqf<\/jats:italic>and micro enterprises especially from the Malaysian context. The paper validates the ICWME-I model in terms of its suitability, applicability and prospects in the market by interviewing experts from various backgrounds.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-07-2017-0013","type":"journal-article","created":{"date-parts":[[2018,6,28]],"date-time":"2018-06-28T11:24:28Z","timestamp":1530185068000},"page":"19-35","source":"Crossref","is-referenced-by-count":38,"title":["A qualitative inquiry into cashwaqf<\/i>model as a source of financing for micro enterprises"],"prefix":"10.55188","volume":"10","author":[{"given":"Mohamed Asmy Bin","family":"Mohd Thas Thaker","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"issue":"4","key":"key2020092809581783400_ref001","first-page":"535","article-title":"Adequacy of financial facilities for small-medium business: empirical findings from Malaysia","volume":"6","year":"2010","journal-title":"International Review of Business Research Papers"},{"issue":"2","key":"key2020092809581783400_ref002","first-page":"27","article-title":"Financing microenterprises: an analytical study of Islamic microfinance institutions","volume":"9","year":"2002","journal-title":"Islamic Economic Studies"},{"key":"key2020092809581783400_ref003","unstructured":"Ahmed, H. (2013), \u201cDeveloping a waqf-based model for modern healthcare services in Uganda\u201d, PhD thesis, International Islamic University Malaysia (IIUM), Malaysia."},{"issue":"5","key":"key2020092809581783400_ref004","first-page":"136","article-title":"Alternative model for financing SMEs in Ghana","volume":"1","year":"2012","journal-title":"International Journal of Arts and Commerce"},{"key":"key2020092809581783400_ref005","first-page":"1","article-title":"Microfinance institutions in Nigeria: policy, practice and potential","year":"2004"},{"key":"key2020092809581783400_ref006","unstructured":"Aris, N.M. (2006), \u201cSMEs: building Blocks for Economic Growth\u201d, paper presented at the National Statistics Conference, Department of Statistics, Malaysia, 4-5 September."},{"issue":"2","key":"key2020092809581783400_ref007","doi-asserted-by":"crossref","first-page":"77","DOI":"10.1191\/1478088706qp063oa","article-title":"Using thematic analysis in psychology","volume":"3","year":"2006","journal-title":"Qualitative Research in Psychology"},{"key":"key2020092809581783400_ref008","unstructured":"Cizakca, M. (2004), \u201cCash waqf as alternative to NBFIs bank\u201d, paper presented at the International Seminar on Nonbank Financial Institutions: Islamic Alternatives, 1-3 March, Kuala Lumpur."},{"key":"key2020092809581783400_ref009","volume-title":"Research Design: Qualitative, Quantitative, and Mixed Methods Approaches","year":"2003"},{"key":"key2020092809581783400_ref010","doi-asserted-by":"crossref","unstructured":"Duasa, J. and Thaker, M.A.M.T. (2015a), \u201cA cash waqf investment model: an alternative model for financing micro-enterprises in Malaysia\u201d, paper presented at the 1st International Journal Islamic Monetary Economics and Finance (JIMF), 29-30 October, Surabaya.","DOI":"10.21098\/jimf.v1i2.533"},{"key":"key2020092809581783400_ref011","unstructured":"Duasa, J. and Thaker, M.A.M.T. (2015b), \u201cProposed integrated cash waqf investment model for micro enterprises in Malaysia: an empirical analysis\u201d, paper presented at the International Conference on Islamic Economics, Governance and Social Enterprise (IConIGS) 2015, 14-15 December, Melaka."},{"issue":"2","key":"key2020092809581783400_ref012","doi-asserted-by":"crossref","first-page":"161","DOI":"10.21098\/jimf.v1i2.533","article-title":"A cash waqf investment model: an alternative model for financing micro-enterprises in Malaysia","volume":"1","year":"2016","journal-title":"Journal of Islamic Monetary Economics and Finance"},{"key":"key2020092809581783400_ref013","unstructured":"Duasa, J., Thaker, M.A.M.T., Mohamed, M.O. and Zainal Abidin, R.A.R. (2014), \u201cMicro enterprises in Malaysia: an empirical assessment on financial obstacles\u201d, paper presented at the International Borneo Business Conference (IBBC), 20-21 August, Kuching, Sarawak."},{"issue":"1","key":"key2020092809581783400_ref014","doi-asserted-by":"crossref","first-page":"49","DOI":"10.1108\/08288660810851469","article-title":"Banking for the poor: the role of Islamic banking in microfinance initiatives","volume":"24","year":"2008","journal-title":"Humanomics"},{"key":"key2020092809581783400_ref015","author":"Economic Census: Profile of SMEs","year":"2011"},{"key":"key2020092809581783400_ref016","unstructured":"Elgari, M.A. (2004), \u201cThe Qard Hassan bank\u201d, paper presented at the International Seminar on Nonbank Financial Institutions: Islamic Alternatives, 1-3 March, Kuala Lumpur."},{"key":"key2020092809581783400_ref017","volume-title":"Improving Access to Finance for SMEs: International Good Experiences and Lessons for Mongolia","year":"2008"},{"key":"key2020092809581783400_ref018","volume-title":"Small Business Development in the Developing World: An Overview of Contemporary Issues in Enterprise Development","year":"1991"},{"key":"key2020092809581783400_ref019","unstructured":"Harvie, C. (2004), \u201cEast Asian SME capacity building, competitiveness and market opportunities in a global economy\u201d, working paper 04-16, Department of Economics, University of Wollongong, August."},{"issue":"1","key":"key2020092809581783400_ref021","first-page":"40","article-title":"A review of the role of SMEs in the manufacturing sector in Malaysia","volume":"34","year":"1999","journal-title":"Malaysian Management Journal"},{"key":"key2020092809581783400_ref022","unstructured":"Husain, M.J., Khurana, N. and Talbayeva, A. (2005), \u201cRural microfinance scheme for Timor-Leste\u201d, Master\u2019s thesis, Berlin University of Applied Sciences, Berlin."},{"key":"key2020092809581783400_ref020","unstructured":"Hassan, K.M. (2010), \u201cAn integrated poverty alleviation model combining zakat, awqaf and microfinance\u201d, paper presented at the 7th International Conference on the Tawhidi Epistemology: Zakat and Waqf Economy, 6 January, Bangi."},{"key":"key2020092809581783400_ref023","unstructured":"Lahsasna, A. (2010), \u201cThe role of cash-waqf in financing micro and medium-sized enterprises\u201d, paper presented at the 7th International Conference on the Tawhidi Epistemology: Zakat and Waqf Economy, 6 January, Bangi, Selangor."},{"key":"key2020092809581783400_ref024","article-title":"SMEs access to finance: an Indonesia case study","volume-title":"Small and Medium Enterprises (SMEs) Access to Finance in Selected East Asian Economies","year":"2011"},{"issue":"2","key":"key2020092809581783400_ref025","first-page":"5","article-title":"Islamic home financing through Musharakah Mutanaqisah and al-Bay Bithaman Ajil contracts: a comparative analysis","volume":"9","year":"2005","journal-title":"Review of Islamic Economics"},{"key":"key2020092809581783400_ref026","volume-title":"Qualitative Data Analysis","year":"1994","edition":"2nd ed."},{"issue":"1","key":"key2020092809581783400_ref027","first-page":"87","article-title":"Microcredit as a tool for rural development: a case study of Malaysia","volume":"8","year":"2012","journal-title":"Journal of Business Case Studies"},{"key":"key2020092809581783400_ref028","first-page":"220","article-title":"Designing funded qualitative research","volume-title":"Handbook of Qualitative Research","year":"1994"},{"key":"key2020092809581783400_ref029","unstructured":"Muhammad, A.D. (2012), \u201cChallenges of micro finance and prospect of introducing and developing IMIM in Nigeria\u201d, PhD thesis, International Islamic University Malaysia (IIUM), Malaysia."},{"key":"key2020092809581783400_ref030","unstructured":"Nasrullah, A.M. (2012), \u201cCritical analysis of micro enterprise policy development in developing countries: a case of Bangladesh\u201d, PhD thesis, Brunel Business School (BBS), Brunel University, London."},{"issue":"12","key":"key2020092809581783400_ref031","first-page":"226","article-title":"The importance of micro financing to the microenterprises development in Malaysia\u2019s experience","volume":"7","year":"2011","journal-title":"Asian Social Science"},{"key":"key2020092809581783400_ref032","unstructured":"Ngehnevu, C.B. and Nembo, F.Z. (2010), \u201cThe impact of microfinance institutions (MFIs) in the development of small and medium size businesses (SMEs) in Cameroon: a case study of CamCCUL\u201d, Master\u2019s thesis, Department of Economics, Swedish University of Agricultural Sciences."},{"key":"key2020092809581783400_ref033","doi-asserted-by":"crossref","DOI":"10.1787\/fin_sme_ent-2013-en","volume-title":"Financing SMEs and Entrepreneurs 2013: An OECD Scoreboard","author":"OECD","year":"2013"},{"key":"key2020092809581783400_ref034","unstructured":"Osman, A.F., Htay, S.N.N. and Muhammad, M.O. (2012), \u201cDeterminants of cash waqf giving in Malaysia: survey of selected works\u201d, paper presented at the Workshop Antarabangsa Pembangunan Berteraskan Islam V (WAPI-5), 10 April, Medan."},{"issue":"11","key":"key2020092809581783400_ref035","first-page":"112","article-title":"Sustainability issues of interest-free micro-finance institutions in rural development and poverty alleviation: the Bangladesh perspective","volume":"2","year":"2009","journal-title":"Theoretical and Empirical Researches in Urban Management"},{"key":"key2020092809581783400_ref036","article-title":"SMEs access to finance in Thailand","volume-title":"Small and Medium Enterprises (SMES) Access to Finance in Selected East Asian Economies","year":"2011"},{"issue":"1","key":"key2020092809581783400_ref037","first-page":"1","article-title":"An evaluation of SME development in Malaysia","volume":"2","year":"2006","journal-title":"International Review of Business Research Papers"},{"key":"key2020092809581783400_ref038","volume-title":"Redefining the Future","author":"SME Annual Report","year":"2011"},{"key":"key2020092809581783400_ref039","volume-title":"Catalysing Growth and Income","author":"SME Masterplan","year":"2012"},{"key":"key2020092809581783400_ref040","doi-asserted-by":"crossref","unstructured":"Stephanou, C. and Rodriguez, C. (2008), \u201cBank financing to small and medium-sized enterprises (SMEs) in Colombia\u201d, policy research working paper 44821, World Bank.","DOI":"10.1596\/1813-9450-4481"},{"key":"key2020092809581783400_ref041","first-page":"429","article-title":"Integrated model of micro financial institutions and micro small enterprises","year":"2012"},{"key":"key2020092809581783400_ref042","unstructured":"Thaker, M.A.M.T. (2015), \u201cThe problems faced by Malaysian micro enterprises in accessing external finance: an empirical study\u201d, paper presented at the International Symposium on Business and Management, 8-10 September, Kyoto."},{"key":"key2020092809581783400_ref043","unstructured":"Thaker, M.A.M.T. and Mohammed, M.O. (2013), \u201cThe challenges of micro enterprises in Malaysia and the prospect for integrated cash waqf micro enterprise investment (ICWME-I) model\u201d, paper presented at the 2nd International Conference on Islamic Economics and Economies of the OIC Countries 2013, 29-30 January, Kuala Lumpur."},{"key":"key2020092809581783400_ref044","unstructured":"Thaker, M.A.M.T., Mohammed, M.O., Duasa, J. and Abdullah, M.A. (2013), \u201cAn alternative model for financing micro enterprises in Malaysia\u201d, paper presented at the 2nd International Symposium on Business and Social Sciences, 7-9 November, Osaka."},{"key":"key2020092809581783400_ref045","unstructured":"Thaker, M.A.M.T., Mohammed, M.O., Duasa, J. and Abdullah, M.A. (2014), \u201cFactors explaining micro enterprises\u2019 intention to use integrated cash waqf micro enterprise investment (ICWME-I) model as a source of financing: a structural equation modeling approach\u201d, paper presented at the 6th Foundation of Islamic Finance Conference, 2-3 April, Durham University."},{"key":"key2020092809581783400_ref046","unstructured":"Tohirin, A. (2010), \u201cThe cash waqf for empowering the small businesses\u201d, paper presented at the 7th International Conference on the Tawhidi Epistemology: Zakat and Waqf Economy, Bangi."},{"key":"key2020092809581783400_ref047","article-title":"SMEs access to finance in Cambodia","volume-title":"Small and Medium Enterprises (SMEs) Access to Finance in Selected East Asian Economies","year":"2011"},{"key":"key2020092809581783400_ref048","volume-title":"Meezan Bank\u2019s Guide to Islamic Banking","year":"2002"},{"key":"key2020092809581783400_ref049","article-title":"Great expectations: microfinance and poverty reduction in Asia and Latin America","year":"2004"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-0013\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-0013\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:48Z","timestamp":1672830348000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-0013\/full\/html"}},"issued":{"date-parts":[[2018,6,19]]},"references-count":49,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2018,6,19]]}},"alternative-id":["10.1108\/IJIF-07-2017-0013"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2017-0013","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2018,6,19]]}},{"indexed":{"date-parts":[[2026,8,25]],"date-time":"2026-08-25T15:25:13Z","timestamp":1787671513423,"version":"build-2736575974"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2024,6,28]],"date-time":"2024-06-28T00:00:00Z","timestamp":1719532800000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 This study aims to assess the impact of banking models on the relationship between corporate social performance (CSP) and corporate financial performance (CFP) in determining a viable model for sustainable banking.\nDesign\/Methodology\/Approach \u2014 The study uses a cross-country sample of 117 financial institutions across 36 countries over an 8-year observation period between 2013 and 2020. To address heterogeneity and endogeneity issues, the authors use the System Generalised Methods of Moments (GMM) estimation models. The study also constructs a novel CSP Index as the independent variable for the research. This CSP Index comprises six indicators reflecting dimensions of financial inclusion and intermediation, serving as proxies for sustainable banking.\nFindings \u2014 The findings reveal that the distinct banking models have a significant impact and can alter the direction of the CSP-CFP relationship. Specifically, the conventional banking (CB) model exhibits a statistically significant negative association between CSP and CFP. Conversely, the Islamic banking (IB) model emerges as a promising avenue for sustainable finance, indicating that increased corporate social responsibility (CSR) activities within Islamic banks (IBs) lead to greater profitability. This difference arises from the inherent strengths of the IB system in conducting financial intermediation and inclusion activities.\nThis contrasts with the CB model\u2019s reliance on debt-based instruments, which exacerbates risk and detrimentally impacts financial performance. The findings also show that the social banking (SB) model has a significant effect on the CSP-CFP relationship.\nOriginality\/Value \u2014 The findings give new insights into the longstanding debate on the CSP-CFP relationship by examining the impact of banking models. Introducing a novel CSP Index, characterised by its objectivity and verifiability, addresses the prevalent issue of bias inherent in the CSP indices of previous studies.<\/jats:p>","DOI":"10.55188\/ijif.v16i2.697","type":"journal-article","created":{"date-parts":[[2024,6,28]],"date-time":"2024-06-28T14:14:36Z","timestamp":1719584076000},"update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":4,"title":["Impact of Corporate Social Performance on Financial Performance: Evidence from Islamic Banks, Conventional Banks and Social Banks"],"prefix":"10.55188","volume":"16","author":[{"given":"Syed Alwi","family":"Mohamed Sultan","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Wan Marhaini","family":"Wan Ahmad","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Obiyathulla","family":"Ismath Bacha","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Roslily","family":"Ramlee","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2024,6,28]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/697\/486","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/697\/486","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,6,30]],"date-time":"2024-06-30T14:33:33Z","timestamp":1719758013000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/697"}},"issued":{"date-parts":[[2024,6,28]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2024,6,28]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16i2.697","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,6,28]]},"assertion":[{"value":"2024-01-06","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-06-28","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-06-27","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:04:34Z","timestamp":1672898674784},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,12]]},"DOI":"10.12816\/0002753","type":"journal-article","created":{"date-parts":[[2014,7,6]],"date-time":"2014-07-06T11:02:24Z","timestamp":1404644544000},"page":"159-165","source":"Crossref","is-referenced-by-count":3,"title":["Blazing the Trail : The Institutional Framework for Dispute Resolution in Malaysia\u2019s Islamic Finance Industry"],"prefix":"10.55188","volume":"4","author":[{"given":"Umar A.","family":"Oseni","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Abu Umar Faruq","family":"Ahmad","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:20Z","timestamp":1672830320000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42565"}},"issued":{"date-parts":[[2012,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2012,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0002753","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,12]]}},{"indexed":{"date-parts":[[2023,7,25]],"date-time":"2023-07-25T19:30:07Z","timestamp":1690313407808},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2012,12]]},"DOI":"10.12816\/0002754","type":"journal-article","created":{"date-parts":[[2014,7,6]],"date-time":"2014-07-06T11:02:24Z","timestamp":1404644544000},"page":"167-171","source":"Crossref","is-referenced-by-count":1,"title":["Tak\u0101ful from a Maq\u0101\u1e63id Al-Shar\u012b\u02bbah Perspective"],"prefix":"10.55188","volume":"4","author":[{"given":"Syahida","family":"Abdullah","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:20Z","timestamp":1672830320000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-42566"}},"issued":{"date-parts":[[2012,12]]},"references-count":0,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2012,12]]}},"URL":"https:\/\/doi.org\/10.12816\/0002754","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2012,12]]}},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:04:34Z","timestamp":1672898674897},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2014,6]]},"DOI":"10.12816\/0019256","type":"journal-article","created":{"date-parts":[[2016,4,5]],"date-time":"2016-04-05T10:06:55Z","timestamp":1459850815000},"page":"165-172","source":"Crossref","is-referenced-by-count":0,"title":["An Analysis of Shar\u012b\u02bbah Non-Compliant Events in Islamic Banks : Evidence from Malaysia"],"prefix":"10.55188","volume":"6","author":[{"given":"M. Mahbubi","family":"Ali","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Rusni","family":"Hassan","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:28Z","timestamp":1672830328000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-75909"}},"issued":{"date-parts":[[2014,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2014,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0019256","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2014,6]]}},{"indexed":{"date-parts":[[2026,7,5]],"date-time":"2026-07-05T21:50:00Z","timestamp":1783288200897,"version":"3.54.6"},"reference-count":34,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2021,12,7]],"date-time":"2021-12-07T00:00:00Z","timestamp":1638835200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,5,20]]},"abstract":"Purpose<\/jats:title>This paper aims to examine the performance of Islamic and conventional stocks listed at the Pakistan Stock Exchange by using both parametric and non-parametric approaches. The motivation is to do risk-return analysis of Islamic stock prices and conventional stock prices.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>It uses various measures of performance, e.g. Sharpe ratio, Treynor ratio, Jensen's alpha, beta, generalized auto-regressive conditional heteroskedasticity and stochastic dominance. Using the Karachi Meezan Index-30 (KMI-30) and the Karachi Stock Exchange Index-30 (KSE-30) as proxies for Islamic and conventional stock prices, respectively, it examines the performance of Islamic and conventional stocks. The daily data of KMI-30 and KSE-30, covering period from June 9, 2009 to June 20, 2020 are used.<\/jats:p><\/jats:sec>Findings<\/jats:title>The results show that the overall KMI-30 outperforms the KSE-30. The returns of the KMI-30 are greater than the KSE-30. However, the risk and volatility of the KMI-30 and KSE-30 are similar. Further, the KMI-30 has higher excess returns per unit of total risk than the KSE-30. But both indexes have similar excess returns per unit of systematic risk. Moreover, the KMI-30 returns have stochastically dominance over the KSE-30 returns. These results reveal that the Islamic index performs better than the conventional index.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>The findings provide several practical implications in financial and investment decisions making by investors, managers and policymakers such as strategies for asset allocation and investment. Further, in risk management, it provides guidance for allocating portfolios and managing risk. The investment in Islamic stocks may mitigate potential risk within asset portfolios.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This research is unique in its approach to the analysis of the performance comparison of conventional and Islamic stock by using comprehensive parametric and non-parametric estimation techniques. Such research has not been undertaken in the Pakistan's equity market since.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-07-2020-0150","type":"journal-article","created":{"date-parts":[[2021,12,6]],"date-time":"2021-12-06T08:19:11Z","timestamp":1638778751000},"page":"59-72","source":"Crossref","is-referenced-by-count":14,"title":["Performance comparison between Islamic and conventional stocks: evidence from Pakistan's equity market"],"prefix":"10.55188","volume":"14","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-3035-3136","authenticated-orcid":false,"given":"Munazza","family":"Jabeen","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Saba","family":"Kausar","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2021,12,7]]},"reference":[{"issue":"1","key":"key2022052115383487000_ref001","doi-asserted-by":"crossref","first-page":"94","DOI":"10.1108\/IMEFM-01-2020-0027","article-title":"Do Shariah indices surpass conventional indices? A study on Dhaka stock exchange","volume":"14","year":"2021","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"1","key":"key2022052115383487000_ref002","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1007\/s40321-012-0001-9","article-title":"Risk and return of Islamic and conventional indices","volume":"5","year":"2012","journal-title":"International Journal of Euro-Mediterranean Studies"},{"issue":"1","key":"key2022052115383487000_ref003","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1108\/JIABR-07-2017-0103","article-title":"Volatility of Malaysian conventional and Islamic indices: does financial crisis matter?","volume":"11","year":"2020","journal-title":"Journal of Islamic Accounting and Business Research"},{"issue":"C","key":"key2022052115383487000_ref004","first-page":"212","article-title":"Dynamic co-integration and portfolio diversification of Islamic and conventional indices: global evidence","volume":"66","year":"2017","journal-title":"The Quarterly Review of Economics and Finance"},{"issue":"1","key":"key2022052115383487000_ref005","first-page":"1","article-title":"Risk-reward trade-off and volatility performance of Islamic versus conventional stock indices: global evidence","volume":"23","year":"2020","journal-title":"Review of Pacific Basin Financial Markets and Policies"},{"issue":"C","key":"key2022052115383487000_ref006","first-page":"29","article-title":"Do Islamic stock indexes outperform conventional stock indexes? A stochastic dominance approach","volume":"28","year":"2014","journal-title":"Pacific-Basin Finance Journal"},{"issue":"2","key":"key2022052115383487000_ref007","doi-asserted-by":"crossref","first-page":"235","DOI":"10.1142\/S0219024907004184","article-title":"The relative risk performance of Islamic finance: a new guide to less risky investments","volume":"10","year":"2007","journal-title":"International Journal of Theoretical and Applied Finance"},{"issue":"3","key":"key2022052115383487000_ref008","doi-asserted-by":"crossref","first-page":"503","DOI":"10.1108\/IMEFM-03-2019-0121","article-title":"Are Islamic indices a viable investment avenue? An empirical study of Islamic and conventional indices in India","volume":"13","year":"2020","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"1","key":"key2022052115383487000_ref009","first-page":"23","article-title":"Performance of Syariah and composite indices: evidence from Bursa Malaysia","volume":"4","year":"2008","journal-title":"Asian Academy of Management Journal of Accounting and Finance"},{"key":"key2022052115383487000_ref010","doi-asserted-by":"publisher","DOI":"10.1007\/s10690-021-09351-7","article-title":"Examining the performance of Islamic and conventional stock indices: a comparative analysis","volume-title":"Asia-Pacific Financial Markets","year":"2021"},{"issue":"6","key":"key2022052115383487000_ref011","first-page":"455","article-title":"Comparison of the performances Islamic and conventional market indices and their causal relationship","volume":"6","year":"2015","journal-title":"International Journal of Business Management and Economic Research"},{"issue":"1","key":"key2022052115383487000_ref012","doi-asserted-by":"crossref","first-page":"62","DOI":"10.1016\/j.bir.2016.09.003","article-title":"The impact of macroeconomic and conventional stock market variables on Islamic index returns under regime switching","volume":"17","year":"2017","journal-title":"Borsa Istanbul Review"},{"issue":"1","key":"key2022052115383487000_ref013","doi-asserted-by":"crossref","first-page":"71","DOI":"10.1111\/1468-0262.00390","article-title":"Consistent tests for stochastic dominance","volume":"71","year":"2003","journal-title":"Econometrica"},{"issue":"1","key":"key2022052115383487000_ref014","doi-asserted-by":"crossref","first-page":"74","DOI":"10.21043\/iqtishadia.v12i1.4631","article-title":"Islamic versus conventional stock market indicates performance: empirical evidence from Turkey","volume":"12","year":"2019","journal-title":"Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam"},{"issue":"3","key":"key2022052115383487000_ref015","doi-asserted-by":"crossref","first-page":"301","DOI":"10.1108\/EJMBE-08-2018-0088","article-title":"Do Islamic stock indexes outperform conventional stock indexes? A state space modeling approach","volume":"28","year":"2019","journal-title":"European Journal of Management and Business Economics"},{"key":"key2022052115383487000_ref016","volume-title":"Faith-based Investing: The Case of Dow Jones Islamic Indices Reexamined","year":"2005"},{"issue":"17","key":"key2022052115383487000_ref017","first-page":"1","article-title":"Sector portfolio performance comparison between Islamic and conventional stock markets","volume":"11","year":"2019","journal-title":"Sustainability"},{"issue":"1","key":"key2022052115383487000_ref018","first-page":"25","article-title":"Rules for ordering uncertain prospects","volume":"59","year":"1969","journal-title":"American Economic Review"},{"key":"key2022052115383487000_ref019","article-title":"How costly is investor's compliance to Sharia?","year":"2004"},{"issue":"2","key":"key2022052115383487000_ref020","doi-asserted-by":"crossref","first-page":"189","DOI":"10.1016\/j.ememar.2011.02.002","article-title":"Risk and return characteristics of Islamic equity funds","volume":"12","year":"2011","journal-title":"Emerging Markets Review"},{"issue":"2","key":"key2022052115383487000_ref021","doi-asserted-by":"crossref","first-page":"77","DOI":"10.12816\/0033335","article-title":"Shari\u2019ah and SRI portfolio performance in the UK: effect of oil price decline","volume":"24","year":"2016","journal-title":"Islamic Economic Studies"},{"issue":"C","key":"key2022052115383487000_ref022","first-page":"110","article-title":"Performance of global Islamic versus conventional share indices: international evidence","volume":"28","year":"2014","journal-title":"Pacific-Basin Finance Journal"},{"issue":"4","key":"key2022052115383487000_ref023","first-page":"1","article-title":"The performance of stock portfolios: evidence from analysing Malaysia case and implication for open innovation","volume":"6","year":"2020","journal-title":"Journal of Open Innovation: Technology, Market, and Complexity"},{"issue":"1","key":"key2022052115383487000_ref024","first-page":"1","article-title":"Ethical investment: empirical evidence from FTSE Islamic index","volume":"12","year":"2004","journal-title":"Islamic Economic Studies"},{"issue":"2","key":"key2022052115383487000_ref025","first-page":"105","article-title":"Ethical investment revisited: evidence from Dow Jones Islamic indexes","volume":"14","year":"2005","journal-title":"The Journal of Investing"},{"key":"key2022052115383487000_ref026","article-title":"A comparison between Islamic and conventional stock prices performance: evidence from Pakistan's equity market","year":"2018"},{"issue":"1","key":"key2022052115383487000_ref027","first-page":"73","article-title":"Conventional and Islamic stock price performance: an empirical investigation","volume":"137","year":"2014","journal-title":"International Economics"},{"key":"key2022052115383487000_ref028","volume-title":"Stochastic Dominance Efficiency Tests under Diversification","year":"2001"},{"issue":"38","key":"key2022052115383487000_ref029","first-page":"1","article-title":"Revisiting and refining the comparison of conventional and Islamic markets' performance","volume":"53","year":"2021","journal-title":"Applied Economics"},{"issue":"1","key":"key2022052115383487000_ref030","first-page":"1","article-title":"Performance of Islamic and conventional stock indices: empirical evidence from an emerging economy","volume":"1","year":"2015","journal-title":"Financial Innovation"},{"issue":"1","key":"key2022052115383487000_ref031","first-page":"14","article-title":"Comparative performance analysis of selected Islamic and conventional mutual funds of Pakistan","volume":"2","year":"2017","journal-title":"Asian Journal of Islamic Finance"},{"key":"key2022052115383487000_ref032","volume-title":"A Primer on Islamic Finance","year":"2009"},{"issue":"3","key":"key2022052115383487000_ref033","first-page":"23","article-title":"Risk and return of Islamic and conventional indices on the Indonesia stock exchange","volume":"8","year":"2021","journal-title":"The Journal of Asian Finance, Economics and Business"},{"issue":"1","key":"key2022052115383487000_ref034","doi-asserted-by":"crossref","first-page":"48","DOI":"10.1016\/j.bir.2019.09.002","article-title":"Performance analysis of Islamic and conventional portfolios: the emerging markets case","volume":"20","year":"2020","journal-title":"Borsa Istanbul Review"}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2020-0150\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2020-0150\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:22Z","timestamp":1672830382000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2020-0150\/full\/html"}},"issued":{"date-parts":[[2021,12,7]]},"references-count":34,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2021,12,7]]},"published-print":{"date-parts":[[2022,5,20]]}},"alternative-id":["10.1108\/IJIF-07-2020-0150"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2020-0150","ISSN":["0128-1976","2289-4365"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"2289-4365","type":"print"}],"published":{"date-parts":[[2021,12,7]]}},{"indexed":{"date-parts":[[2025,4,8]],"date-time":"2025-04-08T13:30:25Z","timestamp":1744119025372},"reference-count":69,"publisher":"International Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2022,8,19]],"date-time":"2022-08-19T00:00:00Z","timestamp":1660867200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2022,12,8]]},"abstract":"Purpose<\/jats:title>There are two purposes to this study: first, to identify the status of\u1e25iyal<\/jats:italic>(legal devices) in the offering of deposit products based on thetawarruq<\/jats:italic>contract in the Malaysian Islamic banking industry and second, to identify the reasons for the widespread offering oftawarruq<\/jats:italic>-based deposit products by Malaysian Islamic banks (IBs).<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>The study uses the qualitative method that involved interviews with Malaysian Shar\u012b\u2018ah experts and Islamic banking operations experts.<\/jats:p><\/jats:sec>Findings<\/jats:title>The findings show that Malaysian IBs resolved to use thetawarruq<\/jats:italic>muna\u1e93\u1e93am<\/jats:italic>contract in deposit products due to several constraints in the existing banking system and in view of customer preferences.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This study solely focuses ontawarruq<\/jats:italic>-based deposit products due to its extensive application in the Malaysian Islamic banking industry.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>The implication of the study is that more stringent procedures are required in the offering oftawarruq<\/jats:italic>-based deposit products as they are extensively utilised and have sparked controversy among Shar\u012b\u2018ah scholars. Moreover, to retain Malaysia's Islamic banking reputation and trustworthiness, new and less controversial contracts must be developed.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This paper discusses the extensive usage of\u1e25iyal<\/jats:italic>-based contracts such astawarruq<\/jats:italic>in Islamic banking institutions' deposit products, with justifications from Malaysian Islamic banking experts. The widespread use of thetawarruq<\/jats:italic>muna\u1e93\u1e93am<\/jats:italic>contract in deposit-based product offerings is based on a reasonable view considering the constraints that Malaysian Islamic banking is currently facing, with strict operation procedures by Bank Negara Malaysia to ensure real operations and to avoid fictitious elements. This paper reveals the use oftawarruq<\/jats:italic>muna\u1e93\u1e93am<\/jats:italic>in deposit products which allows the Islamic banking industry to operate effectively under Malaysia's dominant conventional banking system.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-02-2021-0042","type":"journal-article","created":{"date-parts":[[2022,8,17]],"date-time":"2022-08-17T12:23:32Z","timestamp":1660739012000},"page":"289-302","source":"Crossref","is-referenced-by-count":2,"title":["Experts' views on\u1e25iyal<\/i>in Malaysian Islamic banks: the case oftawarruq<\/i>-based deposit products"],"prefix":"10.55188","volume":"14","author":[{"given":"Muhammad Izzul","family":"Syahmi","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mohammad Taqiuddin","family":"Mohamad","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Mohd Anuar","family":"Ramli","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2022,8,19]]},"reference":[{"key":"key2022120606272505200_ref001","unstructured":"AAOIFI (2017), \u201cShari\u2018ah standard no. (30): monetization (tawarruq)\u201d, available at: http:\/\/aaoifi.com\/ss-30-monetization-tawarruq\/?lang=en (accessed 17 June 2022)."},{"issue":"2","key":"key2022120606272505200_ref002","first-page":"190","article-title":"The internal challenges facing Islamic finance industry","volume":"9","year":"2016","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2022120606272505200_ref003","unstructured":"Affin Islamic (2022), \u201cGeneric terms and conditions applicable for all Islamic deposit accounts products\/services\u201d, available at: https:\/\/www.affinalways.com\/storage\/AffinAlways%20Collaterals\/Personal%20Collaterals\/Deposit%20Islamic\/IslamicDeposit-General-TnC-ENG.pdf (accessed 12 July 2022)."},{"issue":"1","key":"key2022120606272505200_ref004","doi-asserted-by":"crossref","first-page":"31","DOI":"10.18646\/2056.41.17-004","article-title":"Tawarruq as a product for financing within the Islamic banking system: a case study of Malaysian Islamic 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Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2020,11,9]],"date-time":"2020-11-09T00:00:00Z","timestamp":1604880000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2020,11,9]]},"abstract":"\nPurpose<\/jats:title>\nThis study aims to empirically investigate the impact of the Shar\u012b\u02bfah Governance Framework (SGF) on improving Shar\u012b\u02bfah governance practices in Islamic banks in Malaysia and in addressing its related issues.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nData collection was carried out using a comprehensive questionnaire survey, which was developed primarily based on SGF-2010 and arguments in the literature. The sample for this study includes key functionaries in Shar\u012b\u02bfah governance including senior managers, Shar\u012b\u02bfah committee (SC) and Shar\u012b\u02bfah team members of Islamic banks in Malaysia.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nThe analysis of scores obtained from the questionnaire survey\u2013including 41 items representing current significant issues in Shar\u012b\u02bfah governance\u2013indicates that SGF-2010 has been successful in achieving its objectives and in addressing related issues. The results of the paired sample t<\/jats:italic>-test show significant improvements in Shar\u012b\u02bfah governance practices in Malaysian Islamic banks in light of the aforementioned guideline by Bank Negara Malaysia.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nFindings of this research suggest that among the five essential pillars of Shar\u012b\u02bfah governance, namely, accountability and responsibility, independence, competence, confidentiality and transparency, most of the improvements and changes brought about by SGF-2010 are attributable to accountability and responsibility. However, there is still room for improvement in other components of the SGF, particularly with regard to transparency and the independence of the SC and Shar\u012b\u02bfah team.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nGiven the importance of Shar\u012b\u02bfah governance and considering recent endeavours to improve Shar\u012b\u02bfah-compliant culture among Islamic banks in Malaysia, this research is among the first attempts to empirically and comprehensively delve into this subject and evaluate its main issues by directly contacting key players in the Islamic banking industry and providing first-hand highlights. This research also compares the findings based on SGF-2010 with the requirements of SGF-2017 and Shar\u012b\u02bfah Governance Policy Document (SGPD-2019), which were released after this research was completed, where applicable.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-09-2018-0104","type":"journal-article","created":{"date-parts":[[2020,11,9]],"date-time":"2020-11-09T13:58:50Z","timestamp":1604930330000},"page":"381-400","source":"Crossref","is-referenced-by-count":10,"title":["A comprehensive appraisal of Shar\u012b\u02bfah governance practices in Malaysian Islamic banks"],"prefix":"10.55188","volume":"12","author":[{"given":"Babak","family":"Naysary","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Marhanum Che Mohd","family":"Salleh","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Nurdianawati Irwani","family":"Abdullah","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020122107202231400_ref001","article-title":"Syariah governance of Islamic banks: perceptions of responsibility and independence of Syariah advisors","volume-title":"Corporate Governance: An Islamic Paradigm","year":"2005"},{"issue":"1","key":"key2020122107202231400_ref002","doi-asserted-by":"crossref","first-page":"67","DOI":"10.1108\/10264116200900004","article-title":"Development in legal issues of corporate governance in Islamic finance","volume":"25","year":"2009","journal-title":"Journal of Economic and Administrative Sciences"},{"key":"key2020122107202231400_ref003","unstructured":"BNM (2019), \u201cShariah governance\u201d, available at: www.bnm.gov.my\/index.php?ch=57&pg=144&ac=836&bb=file (accessed 3 March 2020)."},{"key":"key2020122107202231400_ref004","doi-asserted-by":"crossref","unstructured":"Casper, M. (2012), \u201cSharia boards and Sharia compliance in the context of European corporate governance\u201d, Working paper, Center for Religion and Modernity, University of M\u00fcnster, M\u00fcnster.","DOI":"10.2139\/ssrn.2179412"},{"key":"key2020122107202231400_ref005","volume-title":"The Future of Economics: An Islamic Perspective","year":"2016"},{"key":"key2020122107202231400_ref006","doi-asserted-by":"crossref","unstructured":"Farook, S.Z. and Farooq, M.O. (2011), \u201cShari\u2019ah governance for Islamic finance: challenges and pragmatic solutions\u201d, Working paper, Bahrain Institute of Banking and Finance.","DOI":"10.2139\/ssrn.1813483"},{"key":"key2020122107202231400_ref007","unstructured":"Fatihah, A.R. (2015), \u201cShari\u2019ah governance disclosure by Islamic banks in Malaysia\u201d, PhD Thesis, Universiti Utara Malaysia."},{"issue":"4","key":"key2020122107202231400_ref008","first-page":"130","article-title":"Shari\u2019ah compliant model of business entities","volume":"1","year":"2011","journal-title":"World Journal of Social Science"},{"key":"key2020122107202231400_ref009","volume-title":"Discovering Statistics Using SPSS","year":"2009"},{"key":"key2020122107202231400_ref010","volume-title":"Foundations of Shari'ah Governance of Islamic Banks","year":"2015"},{"issue":"3","key":"key2020122107202231400_ref011","doi-asserted-by":"crossref","first-page":"226","DOI":"10.1108\/IMEFM-02-2013-0021","article-title":"Sharia governance in Islamic banks: effectiveness and supervision model","volume":"6","year":"2013","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"key":"key2020122107202231400_ref012","volume-title":"Shari'ah Governance in Islamic Banks","year":"2012"},{"issue":"1","key":"key2020122107202231400_ref013","first-page":"110","article-title":"Comparative analysis on Shariah governance in Malaysia: SGF 2010","volume":"10","year":"2020","journal-title":"Journal of Public Administration and Governance"},{"issue":"1","key":"key2020122107202231400_ref014","doi-asserted-by":"crossref","first-page":"94","DOI":"10.1108\/IJIF-12-2017-0052","article-title":"Islamic Financial Services Act (IFSA) 2013 and the Shar\u012b\u02bfah-compliance requirement of the Islamic finance industry in Malaysia","volume":"10","year":"2018","journal-title":"ISRA International Journal of Islamic Finance"},{"key":"key2020122107202231400_ref015","article-title":"Corporate and Shariah governance mechanisms and earnings quality in Islamic banks: a review and evaluation of patterns","volume-title":"Islamic Development Management","year":"2019"},{"key":"key2020122107202231400_ref016","unstructured":"Omar, N.B. (2013), \u201cShari\u2019ah governance framework: a mitigating mechanism against money laundering and terrorism financing in Islamic financial institutions\u201d, Paper presented at the Islamic Accounting and Financial Criminology Conference (IAFCC 2013), 23 March, Shah Alam, Selangor."},{"key":"key2020122107202231400_ref017","unstructured":"Rahaman, F.B.A. (2015), \u201cShar\u012b\u02bfah governance disclosure by Islamic banks in Malaysia\u201d, PhD Thesis, School of Business, Universiti Utara Malaysia."},{"key":"key2020122107202231400_ref018","article-title":"Shari\u2019ah governance disclosure index and institutional ownership of Islamic financial institutions in Malaysia","volume-title":"17-18 February, 2014, Hotel Istana","year":"2014"},{"key":"key2020122107202231400_ref019","first-page":"7","article-title":"Post implementation of Shar\u012b\u02bfah governance framework: the impact of Shar\u012b\u02bfah audit function towards the role of Shar\u012b\u02bfah committee","volume":"13","year":"2013","journal-title":"Middle East Journal of Scientific Research"},{"key":"key2020122107202231400_ref020","volume-title":"Business Research Methods","year":"2003"},{"key":"key2020122107202231400_ref021","volume-title":"Shariah Governance Framework for Islamic Financial Institutions","author":"BNM","year":"2010"},{"key":"key2020122107202231400_ref022","unstructured":"BNM (2017), \u201cShariah governance \u2013 exposure draft\u201d, available at: www.bnm.gov.my\/index.php?ch=en_announcement&pg=en_announcement&ac=587 (accessed 22 September 2018)."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-09-2018-0104\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-09-2018-0104\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:06:09Z","timestamp":1672830369000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-09-2018-0104\/full\/html"}},"issued":{"date-parts":[[2020,11,9]]},"references-count":22,"journal-issue":{"issue":"3","published-print":{"date-parts":[[2020,11,9]]}},"alternative-id":["10.1108\/IJIF-09-2018-0104"],"URL":"https:\/\/doi.org\/10.1108\/ijif-09-2018-0104","ISSN":["0128-1976","0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2020,11,9]]}},{"indexed":{"date-parts":[[2026,9,16]],"date-time":"2026-09-16T18:59:04Z","timestamp":1789585144685,"version":"build-2803163510"},"reference-count":14,"publisher":"International Centre for Education in Islamic Finance","issue":"1","license":[{"start":{"date-parts":[[2017,7,10]],"date-time":"2017-07-10T00:00:00Z","timestamp":1499644800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,7,10]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to investigate the utilisation of both zak\u0101h<\/jats:italic> and waqf<\/jats:italic> fund as external resources to ensure micro-tak\u0101ful<\/jats:italic> services are delivered to underserved communities in an effective and sustainable manner. It also addresses Shar\u012b\u02bfah issues related to the zak\u0101h<\/jats:italic>- and waqf<\/jats:italic>-based model.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThe study is a qualitative-based research. It uses both focus group and content analysis approach to gather primary data and identify and interpret relevant secondary data and Shar\u012b\u02bfah concepts in developing the zak\u0101h<\/jats:italic>- and waqf<\/jats:italic>-based micro-tak\u0101ful<\/jats:italic> model.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nIt is discovered throughout the investigation of attributes of beneficiaries of zak\u0101h<\/jats:italic> and waqf<\/jats:italic> institutions as well as micro-tak\u0101ful<\/jats:italic> scheme that all share commonalities in terms of social securities and socio-economic support to low-income households in societies. The study also finds that the disintegration of zak\u0101h<\/jats:italic> and waqf<\/jats:italic> which form part of the Islamic ecosystem from the micro-tak\u0101ful<\/jats:italic> model makes it less effective and sustainable.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nThis study appears as a primitive attempt to discuss and develop a zak\u0101h<\/jats:italic> and waqf<\/jats:italic>-based micro-tak\u0101ful<\/jats:italic> model with reference to Malaysian jurisdiction.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-07-2017-010","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:18Z","timestamp":1545304818000},"page":"100-105","source":"Crossref","is-referenced-by-count":19,"title":["Utilisation of zak\u0101h<\/i> and waqf<\/i> fund in micro-tak\u0101ful<\/i> models in Malaysia: an exploratory study"],"prefix":"10.55188","volume":"9","author":[{"given":"Said Adekunle","family":"Mikail","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Muhammad Ali Jinnah","family":"Ahmad","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Salami Saheed","family":"Adekunle","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","reference":[{"key":"key2020120617325987400_ref001","unstructured":"Al-Fawz\u0101n, S.M. (2012), Istithm\u0101r al-Zak\u0101h fi al-Tanmiyyah al-Iqti\u1e63\u0101diyyah wa al-Ijtim\u0101\u02bfiyyah, Paper presented at the 33rd Albaraka Symposium for Islamic Economics, Albaraka Banking Group, Bahrain."},{"key":"key2020120617325987400_ref002","volume-title":"Bad\u0101\u02bei\u02bf al-\u1e62an\u0101\u02bei\u02bf fi al-Tart\u012bb al-Shar\u0101\u02bei\u02bf","year":"1986"},{"key":"key2020120617325987400_ref003","volume-title":"Raw\u1e0dat al-\u1e6c\u0101lib\u012bn","year":"2002"},{"key":"key2020120617325987400_ref004","unstructured":"Al-Shubayl\u012b, Y.A. (2012), Ir\u1e63\u0101d Amw\u0101l al-Zak\u0101h wa Istithm\u0101ruh\u0101 f\u012b al-Tanmiyah al-Iqti\u1e63\u0101diyyah wa al-Ijtim\u0101\u02bfiyyah, paper presented at 33rd Albaraka Symposium for Islamic Economic, Albaraka Banking Group, Bahrain."},{"key":"key2020120617325987400_B5a","volume-title":"Al-Qaw\u0101n\u012bn al-Fiqhiyyah Fi Talkh\u012b\u1e63 Madhhab al-M\u0101likiyyah","author":"Ibn Juzay","year":"2013"},{"key":"key2020120617325987400_ref005","volume-title":"Al-Mughn\u012b ma\u02bf al-Shar\u1e25 al-Kab\u012br","year":"1983"},{"key":"key2020120617325987400_ref006","volume-title":"Bid\u0101yat al-Mujtahid wa Nih\u0101yat al-Muqta\u1e63id","year":"1995"},{"key":"key2020120617325987400_ref011","volume-title":"A\u1e25k\u0101m Fat\u0101w\u0101 al-Zak\u0101t wa al-\u1e62adaq\u0101t wa al-Nudh\u016br wa al Kaf\u0101r\u0101t","author":"Zakat House","year":"2016","edition":"2nd ed."},{"key":"key2020120617325987400_ref007","volume-title":"Mur\u0101\u02bf\u0101t al-Maf\u0101ti\u1e25 Shar\u1e25 Mift\u0101\u1e25 al-Ma\u1e63\u0101bi\u1e25","year":"1984"},{"key":"key2020120617325987400_ref008","volume-title":"Kit\u0101b al-Amw\u0101l","year":"2017"},{"key":"key2020120617325987400_ref009","volume-title":"Shar\u012b\u02bfah Standards","author":"Accounting and Auditing Organization for Islamic Financial Institutions","year":"2015"},{"key":"key2020120617325987400_ref010","volume-title":"Shar\u012b\u02bfah Resolutions for Islamic Finance","author":"Bank Negara Malaysia","year":"2010"},{"key":"key2020120617325987400_ref012","volume-title":"Islamic Legal Maxims and Their Application in Islamic Finance","year":"2013"},{"key":"key2020120617325987400_ref013","unstructured":"Shubayr, M. (1426H), Istithm\u0101r Amw\u0101l al-Zak\u0101h, paper presented at the Third Fiqh Symposium on Contemporary Zak\u0101t Issues, available at: http:\/\/almoslim.net\/node\/82957 (accessed 21 March 2016)."}],"container-title":["ISRA International Journal of Islamic Finance"],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-010\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-010\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:40Z","timestamp":1672830340000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IJIF-07-2017-010\/full\/html"}},"issued":{"date-parts":[[2017,7,10]]},"references-count":14,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2017,7,10]]}},"alternative-id":["10.1108\/IJIF-07-2017-010"],"URL":"https:\/\/doi.org\/10.1108\/ijif-07-2017-010","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2017,7,10]]}},{"indexed":{"date-parts":[[2026,9,16]],"date-time":"2026-09-16T11:20:41Z","timestamp":1789557641388,"version":"build-2803163510"},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ISRA"],"published-print":{"date-parts":[[2013,6]]},"DOI":"10.12816\/0002761","type":"journal-article","created":{"date-parts":[[2014,6,29]],"date-time":"2014-06-29T07:44:41Z","timestamp":1404027881000},"page":"137-160","source":"Crossref","is-referenced-by-count":11,"title":["Shar\u012b\u02bbah Governance , Expertise and Profession : Educational Challenges in Islamic Finance"],"prefix":"10.55188","volume":"5","author":[{"given":"Sayd","family":"Farook","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mohammad Omar","family":"Farooq","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic 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Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2014,6]]},"DOI":"10.12816\/0019254","type":"journal-article","created":{"date-parts":[[2016,4,5]],"date-time":"2016-04-05T10:06:55Z","timestamp":1459850815000},"page":"115-151","source":"Crossref","is-referenced-by-count":5,"title":["Islamic Finance : Legal and Institutional Challenges"],"prefix":"10.55188","volume":"6","author":[{"given":"Rafe","family":"Haneef","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Abbas","family":"Mirakhor","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:28Z","timestamp":1672830328000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-75907"}},"issued":{"date-parts":[[2014,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2014,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0019254","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2014,6]]}},{"indexed":{"date-parts":[[2024,5,10]],"date-time":"2024-05-10T00:29:29Z","timestamp":1715300969232},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"S1","license":[{"start":{"date-parts":[[2024,5,6]],"date-time":"2024-05-06T00:00:00Z","timestamp":1714953600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"\u0628\u0633\u0645 \u0627\u0644\u0644\u0647 \u0627\u0644\u0631\u062d\u0645\u0646 \u0627\u0644\u0631\u062d\u064a\u0645\r\nIn the Name of Allah, Most Gracious, Most Merciful\r\nWaqf: A Key Islamic Social Finance Instrument \r\nWaqf is a key tool of Islamic social finance that has been practised since Islam\u2019s inception as part of Muslims\u2019 religious obligations and benevolence to assist the needy and gain the pleasure of Allah (SWT). In the early years, Islamic social finance was not formally institutionalised within the Islamic economic system, except to a limited extent in a few Muslim-majority countries, which for instance, managed some Islamic social finance tools such as zakat and waqf at the state level. In the early 2000s, there were increasing discussions about the social responsibility of Islamic finance, questioning whether profit should be the sole business objective of Islamic financial institutions or whether they should also be attributed social roles in view of the Islamic philosophical foundations that underpin their establishments. As businesses\u2019 corporate social responsibility (CSR) grew in importance in mainstream discussions, many Islamic financial institutions engaged in CSR-based activities on an ad-hoc basis, as a philanthropic exercise, as they became more profitable, viable and sustainable. This started the trend of mixing the practice of Islamic commercial finance with Islamic social finance.\u00a0\r\nAs Islamic finance evolved further, there was an increased realisation that the effectiveness and applications of Islam\u2019s social and philanthropic instruments could be further strengthened by integrating Islamic social finance within mainstream Islamic commercial finance. Thus, there were unified efforts to establish cooperation between charitable instruments and the different sectors of the Islamic finance industry. The commercialisation objective of Islamic social finance instruments has been particularly visible in the waqf sector. Waqf has historically been limited to pursuing only the social interests of the donor, who sought reward in both this world and the afterlife by helping the poor and the needy. In the modern practice of waqf, the social objective is integrated with the profit motive so that the initial waqf capital generates more returns for the beneficiaries. Prominent developments in the modern practice of waqf include the following:\r\n\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The modern concept of waqf is not limited to immovable assets (e.g., land, orchards, wells) and movable assets (e.g., jewellery, Qur\u2019an, books, equipment) which are donated for charitable purposes. Innovative strategies are adopted today to develop waqf as an alternative asset class by using contemporary forms of wealth such as cash and financial securities. Latest waqf instruments include cash waqf, temporary cash waqf, waqf-banks, waqf-shares, waqf-unit trusts, waqf-venture capital funds, waqf-\u1e63uk\u016bk, and waqf-Islamic real estate investment trusts.\r\n\r\nModern structures of waqf introduced professional management of waqf funds that ensures the sustainability of waqf assets and generates better returns to beneficiaries.\r\nInnovative and effective channels of investments through Islamic banks, the Islamic capital market and the tak\u0101ful sector have been used to develop dynamic and progressive waqf projects. An example is the case of myWakaf in Malaysia which leverages on the synergy between the State Islamic Religious Councils (SIRCs) and a consortium of Malaysian Islamic banks to manage waqf investments and channel the investment returns into waqf projects.\r\nUtilisation of waqf proceeds are extended beyond the traditional sectors (e.g., mosques, cemeteries, Islamic schools) to provide a wider range of welfare services relevant to current societal needs (e.g., waqf qurban, waqf for funding impactful SMEs, reviving dormant or abandoned waqf assets into productive properties).\r\nModern waqf management introduces good governance that increases transparency and accountability of waqf institutions.\r\n\r\nApplication of technology in the management of waqf has widened the base of waqf donors\/investors, thus expanding public participation and increasing the supply of waqf funding.\u00a0\u00a0<\/jats:p>","DOI":"10.55188\/ijif.v16is1.778","type":"journal-article","created":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T06:29:31Z","timestamp":1715236171000},"page":"1-3","update-policy":"http:\/\/dx.doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"16","author":[{"given":"Beebee Salma","family":"Sairally","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2024,5,6]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/778\/473","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/778\/473","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,9]],"date-time":"2024-05-09T06:31:45Z","timestamp":1715236305000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/778"}},"issued":{"date-parts":[[2024,5,6]]},"references-count":0,"journal-issue":{"issue":"S1","published-online":{"date-parts":[[2024,5,6]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16is1.778","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2024,5,6]]},"assertion":[{"value":"2024-05-06","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-05-06","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:40:09Z","timestamp":1715910009848},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"3","license":[{"start":{"date-parts":[[2023,9,30]],"date-time":"2023-09-30T00:00:00Z","timestamp":1696032000000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":["journal.inceif.edu.my"],"crossmark-restriction":true},"short-container-title":["IJIF"],"abstract":"Purpose \u2014 This study aims to investigate how participants decide between profit-loss sharing contracts (PLSC) and interest-based contracts (IBC) in an interactive environment. PLSC and IBC are two interesting financial arrangements. They are similar in that both transfer money from people who have excess money to those who are in need, but they are extremely different in sharing risks between participants.\r\nDesign\/Methodology\/Approach \u2014 The participants\u2019 profits change based on their role (as an investor or entrepreneur) and the selected contract because the contracts are entirely different in sharing or shifting risks. Thus, in the first step, various profit functions are constructed that differ according to each party\u2019s role and major factors relevant to each contract. Afterwards, a mathematical game model (GM) is developed to consider the parties\u2019 interaction concurrently. A numerical example also verifies the results.\r\nFindings \u2014 The results show that the business output level, auditing costs, collateral related costs, and market conditions or state of the economy (SoE) are major factors in deciding between IBC and PLSC.\r\nOriginality\/Value \u2014 This research sets up various profit functions (based on players\u2019 roles and contracts), enriching them by the contract-related factors and SoE and developing a GM. The existing literature focuses on the investor\u2019s optimal contract, while concluding a contract needs the mutual consent of the involved parties, not only the investor\u2019s inclination.\r\nPractical Implication \u2014 This research provides a guideline for \u2018parties\u2019 share in PLSC\u2019 and generally accepted auditing standards for auditing PLSC.<\/jats:p>","DOI":"10.55188\/ijif.v15i3.614","type":"journal-article","created":{"date-parts":[[2023,10,2]],"date-time":"2023-10-02T04:56:05Z","timestamp":1696222565000},"page":"115-141","update-policy":"http:\/\/dx.doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":0,"title":["A Theoretical Analysis in Choosing Between Profit-Loss Sharing and Interest-Based Contracts: A Simple Game Model"],"prefix":"10.55188","volume":"15","author":[{"given":"Reza","family":"Gholami","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Aisyah","family":"Abdul-Rahman","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Fathin Faizah","family":"Said","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Nor Ghani","family":"Md Nor","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2023,9,30]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/614\/440","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/614\/440","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,5,17]],"date-time":"2024-05-17T01:27:32Z","timestamp":1715909252000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/614"}},"issued":{"date-parts":[[2023,9,30]]},"references-count":0,"journal-issue":{"issue":"3","published-online":{"date-parts":[[2023,9,30]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v15i3.614","ISSN":["2289-4365","0128-1976"],"issn-type":[{"value":"2289-4365","type":"electronic"},{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2023,9,30]]},"assertion":[{"value":"2023-10-02","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2023-09-30","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:05:11Z","timestamp":1672898711552},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IIJIF"],"published-print":{"date-parts":[[2014,6]]},"DOI":"10.12816\/0019255","type":"journal-article","created":{"date-parts":[[2016,4,5]],"date-time":"2016-04-05T10:06:55Z","timestamp":1459850815000},"page":"155-163","source":"Crossref","is-referenced-by-count":0,"title":["Islamic Banking Legislation and Regulation in New Jurisdictions : Issues and Recommendations"],"prefix":"10.55188","volume":"6","author":[{"given":"Gulzhan","family":"Musaeva","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Hadija","family":"Murtazalieva","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","container-title":["ISRA International Journal of Islamic Finance"],"deposited":{"date-parts":[[2023,1,4]],"date-time":"2023-01-04T11:05:28Z","timestamp":1672830328000},"score":0.0,"resource":{"primary":{"URL":"http:\/\/Platform.almanhal.com\/CrossRef\/Preview\/?ID=2-75908"}},"issued":{"date-parts":[[2014,6]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2014,6]]}},"URL":"https:\/\/doi.org\/10.12816\/0019255","ISSN":["0128-1976"],"issn-type":[{"value":"0128-1976","type":"print"}],"published":{"date-parts":[[2014,6]]}},{"indexed":{"date-parts":[[2026,8,24]],"date-time":"2026-08-24T15:55:59Z","timestamp":1787586959794,"version":"build-2736575974"},"reference-count":84,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2021,7,6]],"date-time":"2021-07-06T00:00:00Z","timestamp":1625529600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2021,9,30]]},"abstract":"\n Purpose<\/jats:title>\n This paper aims to test the main factors that affect cash waqf collection among the employees of Islamic banking institutions (IBIs) in Malaysia.<\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n The data was gathered using a survey method from 218 employees of IBIs in Malaysia. The obtained data was analyzed using the Statistical Package for the Social Sciences software and smart partial least squares-structural equation modeling to verify the hypothesis and reach conclusions.<\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n The results revealed that word of mouth and trust have significant positive impacts on cash waqf collection. The outcomes also confirmed that convenience and accessibility to cash waqf play significant roles in affecting cash waqf collection.<\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n Based on the researchers\u2019 knowledge, there are only a few studies which focused on measuring the driver of cash waqf collection from the employees\u2019 perspective, particularly in the Malaysian context. This study specifically applies the theory of reasoned action to determine employees\u2019 attitudes toward cash waqf fund collections in IBIs in Malaysia. Having an understanding of the factors that influence employees to contribute to cash waqf would better equip IBIs in managing their cash waqf contributions and in designing their marketing and branding strategies for promoting their institutions.<\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/ijif-06-2020-0126","type":"journal-article","created":{"date-parts":[[2021,7,5]],"date-time":"2021-07-05T08:29:41Z","timestamp":1625473781000},"page":"177-193","source":"Crossref","is-referenced-by-count":38,"title":["Determinants of cash waqf fund collection in Malaysian Islamic banking institutions: empirical insights from employees\u2019 perspectives"],"prefix":"10.55188","volume":"13","author":[{"given":"Wan Nuraihan","family":"Ab Shatar","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Jalal Rajeh","family":"Hanaysha","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Putri Rozita","family":"Tahir","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2021,7,6]]},"reference":[{"issue":"1","key":"key2021100405515968900_ref001","first-page":"29","article-title":"Islamic finance as a mechanism for bolstering food security in the Middle East: food security waqf","volume":"13","year":"2012","journal-title":"Sustainable Development Law and Policy"},{"key":"key2021100405515968900_ref002","first-page":"2074","article-title":"Factors influence depositors\u2019 withdrawal behavior in Islamic banks: a theory of reasoned action","volume":"60","year":"2011","journal-title":"World Academy of Science, Engineering and Technology"},{"key":"key2021100405515968900_ref003","unstructured":"Abdul Aziz, M. (2017), \u201c6 Bank Islam bangunkan dana wakaf\u201d, Berita Harian, 8 September, available at: www.bharian.com.my\/bisnes\/korporat\/2017\/09\/322944\/6-bank-islam-bangunkan-dana-wakaf (accessed 15 May 2018)."},{"issue":"2","key":"key2021100405515968900_ref004","doi-asserted-by":"crossref","first-page":"79","DOI":"10.1108\/IES-06-2019-0011","article-title":"Reflection of maq\u0101\u1e63id al-Shar\u012b\u02bfah in the classical fiqh al-awq\u0101f","volume":"27","year":"2020","journal-title":"Islamic Economic Studies"},{"issue":"8","key":"key2021100405515968900_ref005","doi-asserted-by":"crossref","first-page":"1018","DOI":"10.1108\/IJSE-06-2015-0176","article-title":"Taking stock of the waqf-based Islamic microfinance model","volume":"44","year":"2017","journal-title":"International Journal of Social Economics"},{"issue":"1","key":"key2021100405515968900_ref006","doi-asserted-by":"crossref","first-page":"63","DOI":"10.12816\/0024801","article-title":"Cash waqf: historical evolution, nature and role as an alternative to riba-based financing for the grass root","volume":"4","year":"2015","journal-title":"Journal of Islamic Finance"},{"key":"key2021100405515968900_ref007","article-title":"Role of zakah and awqaf in poverty alleviation","year":"2004"},{"key":"key2021100405515968900_ref008","volume-title":"Understanding Attitude Predicting Social Behavior","year":"1980"},{"issue":"1","key":"key2021100405515968900_ref009","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1002\/j.1681-4835.2014.tb00429.x","article-title":"Determinants of online waqf acceptance: an empirical investigation","volume":"60","year":"2014","journal-title":"The Electronic Journal of Information Systems in Developing Countries"},{"issue":"1","key":"key2021100405515968900_ref010","first-page":"1","article-title":"Determinants of qardhul hassan financing acceptance among Malaysian bank customers: an empirical analysis","volume":"11","year":"2010","journal-title":"International Journal of 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waqf","volume":"2","year":"2015","journal-title":"Global Review of Islamic Economics and Business"},{"issue":"2","key":"key2021100405515968900_ref024","first-page":"1","article-title":"The impact of trust in cash waqf contribution: a case study of Wakaf Selangor Muamalat (WSM) service of Bank Muamalat Malaysia Berhad (BMMB)","volume":"18","year":"2019","journal-title":"International Journal of Business, Economics and Law"},{"issue":"2","key":"key2021100405515968900_ref025","first-page":"46","article-title":"The role of online facility in cash waqf contribution: experience of Bank Muamalat Malaysia Berhad (BMMB)","volume":"19","year":"2019","journal-title":"South East Asia Journal of Contemporary Business, Economics and Law"},{"key":"key2021100405515968900_ref026","first-page":"65","article-title":"A theory of reasoned action: some application and implications","volume-title":"NE Symposium on 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(PLS-SEM)","year":"2016"},{"issue":"2","key":"key2021100405515968900_ref031","first-page":"27","article-title":"Cash waqf collection: any potential factors to influence it","volume":"9","year":"2016","journal-title":"International Journal of Business, Economics and Law"},{"issue":"1","key":"key2021100405515968900_ref032","first-page":"1","article-title":"The role of waqf in educational development\u2013evidence from Malaysia","volume":"8","year":"2019","journal-title":"Journal of Islamic Finance"},{"issue":"2","key":"key2021100405515968900_ref033","first-page":"120","article-title":"Spread the word","volume":"26","year":"1998","journal-title":"Entrepreneur"},{"issue":"12","key":"key2021100405515968900_ref034","first-page":"38","article-title":"Influence of word of mouth on consumer buying decision: evidence from Bangladesh market","volume":"9","year":"2017","journal-title":"European Journal of Business and Management"},{"issue":"1","key":"key2021100405515968900_ref035","first-page":"1","article-title":"Cash waqf: an innovative instrument for economic development","volume":"6","year":"2013","journal-title":"International Review of Social Sciences and Humanities"},{"issue":"4","key":"key2021100405515968900_ref036","doi-asserted-by":"crossref","first-page":"33","DOI":"10.4018\/jebr.2007100102","article-title":"Effects of consumer-perceived convenience on shopping intention in mobile commerce: an empirical study","volume":"3","year":"2007","journal-title":"International Journal of E-Business Research"},{"issue":"2","key":"key2021100405515968900_ref037","first-page":"55","article-title":"Factors that influence repeat contribution of cash waqf in Islamic philanthropy","volume":"14","year":"2015","journal-title":"Management and Accounting 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ed."},{"key":"key2021100405515968900_ref046","first-page":"39","article-title":"Electronic word-of-mouth: the moderating roles of product involvement and brand image","volume-title":"TIIM 2013 Proceedings","year":"2013"},{"issue":"4","key":"key2021100405515968900_ref047","doi-asserted-by":"crossref","first-page":"586","DOI":"10.1108\/IMEFM-07-2017-0179","article-title":"Factors influencing the community behavioral intention for adoption of Islamic banking","volume":"12","year":"2019","journal-title":"International Journal of Islamic and Middle Eastern Finance and Management"},{"issue":"31","key":"key2021100405515968900_ref048","doi-asserted-by":"crossref","first-page":"121","DOI":"10.1002\/pf.3107","article-title":"The nonprofit sector and accountability","volume":"2001","year":"2001","journal-title":"New Directions for Philanthropic Fundraising"},{"key":"key2021100405515968900_ref049","first-page":"25","article-title":"Shariah governance in Islamic finance: the effects of the Islamic 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Finance","issue":"3","license":[{"start":{"date-parts":[[2021,8,4]],"date-time":"2021-08-04T00:00:00Z","timestamp":1628035200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2021,12,17]]},"abstract":"Purpose<\/jats:title>The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat contributes significantly to the country\u2019s socio-economic development and prosperity. However, in Malaysia and other Islamic countries, there is not yet a proper mechanism for calculating zakat on extracted minerals. Similar to gold and silver, oil and gas are valuable minerals, which, upon extraction, are subject to zakat payment. In Malaysia, however, this is not the case.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>This study uses a qualitative method. It presents a thorough review on the stipulation for paying zakat on minerals, specifically oil and gas. The deliberation is based on secondary data entailing a comprehensive content analysis of prominent books on the subject, current zakat rulings and legal acts on oil and gas.<\/jats:p><\/jats:sec>Findings<\/jats:title>Oil and gas are subject to zakat payment, as indicated in several Qur\u02be\u0101nic verses and based on the academic reasoning of Muslim scholars. The zakat calculation for oil and gas entails the nis\u0101b<\/jats:italic> (minimum threshold value of the assets) but not the \u1e25awl<\/jats:italic> (the requirement for one full Islamic year of ownership for the assets), by analogy with zakat on agricultural produce. Despite the obligation to pay zakat on minerals under the zak\u0101t al-m\u0101l<\/jats:italic> (alms due on wealth) category, oil and gas is yet to be fully subject to this practice in Malaysia, although the country is known as an oil-producing Muslim country. Several legislative acts covering the managerial and business side of oil and gas operations have long been established, but the provision on zakat remains unclear. Hence, comprehensive legislation is needed to fine-tune the Malaysian oil and gas system, particularly with regard to zakat.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This study relies mainly on secondary data and literature without performing any empirical investigations.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>In terms of academic implication, this study enriches the existing body of knowledge on zakat. Practical implications would include enhanced decision-making concerning zakat on oil and gas on the part of zakat institutions, policymakers and the government of Malaysia.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This study provides practical and academic contributions to the deep understanding of zakat on oil and gas, which has received very little attention in the existing body of literature. Despite being limited in literature, this is a breakthrough study that sheds light on zakat on oil and gas.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijif-04-2020-0089","type":"journal-article","created":{"date-parts":[[2021,8,3]],"date-time":"2021-08-03T15:44:45Z","timestamp":1628005485000},"page":"318-332","source":"Crossref","is-referenced-by-count":5,"title":["Establishing zakat on oil and gas in Malaysia: a new insight"],"prefix":"10.55188","volume":"13","author":[{"given":"Pg Mohd Faezul Fikri","family":"Ag Omar","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Haneffa","family":"Muchlis Gazali","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mohd. Nasir","family":"Samsulbahri","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Nurul Izzati","family":"Abd Razak","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Norhamiza","family":"Ishak","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"33484","published-online":{"date-parts":[[2021,8,4]]},"reference":[{"issue":"2","key":"key2021121510373737600_ref001","first-page":"93","article-title":"Agricultural zakat from the Islamic perspective","volume":"17","year":"2019","journal-title":"Journal of Fatwa Management and Research"},{"issue":"2","key":"key2021121510373737600_ref002","first-page":"37","article-title":"Strategi pembangunan keusahawanan asnaf fakir dan miskin melalui agihan bantuan modal zakat","volume":"33","year":"2011","journal-title":"Jurnal 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Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2019,12,9]],"date-time":"2019-12-09T00:00:00Z","timestamp":1575849600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2019,12,9]]},"abstract":"\nPurpose<\/jats:title>\nThis paper aims to investigate the contribution of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy like Uganda, which is a secular state that is in the early stages of adopting Islamic banking.<\/jats:p>\n<\/jats:sec>\n\nDesign\/methodology\/approach<\/jats:title>\nThis study uses a cross-sectional and correlational research design. Usable questionnaires were received from 258 managers of their own micro businesses. A hierarchical regression analysis was used to test the hypotheses.<\/jats:p>\n<\/jats:sec>\n\nFindings<\/jats:title>\nResults indicate that attitude and religiosity are significant determinants of the intention to adopt Islamic banking, unlike subjective norm whose predictive power is subsumed in attitude. In the absence of attitude, subjective norm is a significant determinant of intention to adopt Islamic banking. Overall, attitude, subjective norm and religiosity explain 44 per cent of the variance in the intention to adopt Islamic banking in Uganda.<\/jats:p>\n<\/jats:sec>\n\nResearch limitations\/implications<\/jats:title>\nThis study is cross-sectional, excluding the monitoring of changes in behavior over time. Further, the study used evidence from owner-managed micro businesses in Uganda. It is possible that these results are only applicable to Uganda\u2019s micro businesses.<\/jats:p>\n<\/jats:sec>\n\nOriginality\/value<\/jats:title>\nIslamic banking is an emerging phenomenon on the African continent, especially in Sub-Saharan Africa, where most countries are secular states. As such, there are largely no empirical studies exploring the combined contributions of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy after the national adoption of an enabling legal framework. To the best of the researchers\u2019 knowledge, this is the first study that carries out this task.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/ijif-04-2018-0040","type":"journal-article","created":{"date-parts":[[2019,6,13]],"date-time":"2019-06-13T09:50:03Z","timestamp":1560419403000},"page":"166-186","source":"Crossref","is-referenced-by-count":47,"title":["Determinants of the intention to adopt Islamic banking in a non-Islamic developing country"],"prefix":"10.55188","volume":"11","author":[{"given":"Juma","family":"Bananuka","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Twaha 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Keywords related to Muslims\u2019 obligations, zakat and taxes were sourced to find relevant literature. A thematic analysis was conducted of in-depth interview data from Kiai Pesantren regarding their perspectives on state fund management.\nFindings \u2014 The results show the importance of FTPA in state fund management, especially when aligned with Islamic principles. Fiscal transparency involves directing tax funds towards poverty alleviation alongside infrastructure development. The involvement of religious organisations can be aimed at fostering moral responsibility among officials, while citizen participation can be facilitated through open data for budget planning. The accountability of public officials must be accompanied by efforts to minimise corruption and enforce strict punishments for corrupt activities. Moreover, fully crediting zakat payments for Muslim taxpayers could improve tax compliance, but this requires assurance through future policy reforms.\nOriginality\/Value \u2014 This study contributes to the literature by integrating Islamic principles into the framework of FTPA.\nResearch Limitations\/Implications \u2014 Broader insights into tax compliance management and support for Shar\u012b\u02bfah-based taxation could be addressed by involving Islamic scholars across countries.<\/jats:p>","DOI":"10.55188\/ijif.v16i2.533","type":"journal-article","created":{"date-parts":[[2024,6,28]],"date-time":"2024-06-28T14:15:14Z","timestamp":1719584114000},"update-policy":"https:\/\/doi.org\/10.55188\/crossmark_ijif","source":"Crossref","is-referenced-by-count":0,"title":["Enhancing Taxpayer Compliance Through Fiscal Transparency, Participation and Accountability: Insights from Key Figures of Islamic Boarding Schools in Depok City"],"prefix":"10.55188","volume":"16","author":[{"given":"Prianto Budi","family":"Saptono","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0651-5390","authenticated-orcid":false,"given":"Ismail","family":"Khozen","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"33484","published-online":{"date-parts":[[2024,6,28]]},"container-title":["ISRA International Journal of Islamic Finance"],"link":[{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/533\/482","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/download\/533\/482","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,6,30]],"date-time":"2024-06-30T14:33:12Z","timestamp":1719757992000},"score":0.0,"resource":{"primary":{"URL":"https:\/\/journal.inceif.edu.my\/index.php\/ijif\/article\/view\/533"}},"issued":{"date-parts":[[2024,6,28]]},"references-count":0,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2024,6,28]]}},"URL":"https:\/\/doi.org\/10.55188\/ijif.v16i2.533","ISSN":["2289-4365","0128-1976"],"issn-type":[{"type":"electronic","value":"2289-4365"},{"type":"print","value":"0128-1976"}],"published":{"date-parts":[[2024,6,28]]},"assertion":[{"value":"2023-05-10","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-06-28","order":1,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-06-26","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}}]},{"indexed":{"date-parts":[[2023,1,5]],"date-time":"2023-01-05T06:04:17Z","timestamp":1672898657035},"reference-count":0,"publisher":"International Centre for Education in Islamic Finance","issue":"2","license":[{"start":{"date-parts":[[2017,12,4]],"date-time":"2017-12-04T00:00:00Z","timestamp":1512345600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJIF"],"published-print":{"date-parts":[[2017,12,4]]},"DOI":"10.1108\/ijif-10-2017-0035","type":"journal-article","created":{"date-parts":[[2018,12,20]],"date-time":"2018-12-20T11:20:35Z","timestamp":1545304835000},"page":"114-116","source":"Crossref","is-referenced-by-count":0,"title":["Editorial"],"prefix":"10.55188","volume":"9","author":[{"given":"Ashraf","family":"Md. 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