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1 – 4 of 4Syahnaz Sulaiman, Aznan Hasan, Azman Mohd Noor, Muhd Issyam Ismail and Nazrul Hazizi Noordin
This paper aims to present the viability of unit trust waqf (Islamic endowment) as an alternative asset class for waqf creation.
Abstract
Purpose
This paper aims to present the viability of unit trust waqf (Islamic endowment) as an alternative asset class for waqf creation.
Design/methodology/approach
This paper starts with the conceptual exploration of the literature in the areas of waqf. The sources of the literature cover authentic sources of the Qurʾān and ḥadīth, as well as secondary sources such as books, journal articles and online resources.
Findings
This paper provides the conceptual framework of five models of unit trust waqf and their investment management parameters.
Originality/value
The 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.
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The purpose of this paper is to study the correlational and effect relationship between Halal standards and the performance of Halal-certified Palestinian Food Companies.
Abstract
Purpose
The purpose of this paper is to study the correlational and effect relationship between Halal standards and the performance of Halal-certified Palestinian Food Companies.
Design/methodology/approach
Quantitative method was used, using a questionnaire survey of 40 Halal-certified Palestinian organizations out of a total of 47 certified organizations, the analysis was done using the partial least squares structural equation modeling (PLS-SEM) and the literature review was conducted using a well-known systematic literature review methodology.
Findings
Halal implementation and certification had a positive impact on performance (operational, financial and marketing). The depth/intensity of implementation fully mediates operational performance and partially mediates marketing and financial performance.
Research limitations/implications
As the sample size is small, it is recommended to conduct the study using a larger sample size, once the number of Palestinian Halal-certified organizations increases. A longitudinal or panel study is recommended to capture data that are more accurate and avoid objectivity and bias issues using a cross-sectional research design method. Finally, the study recommends to conduct additional research in the field of Halal awareness for customers to gage their intention and welling to buy Halal products within the Middle East region.
Originality/value
The importance of this study exists in the lack of previous Halal-related studies in the Palestinian context and the previously described gap in the literature. Nevertheless, the quality management drivers and impact are limited in the Palestinian context compared with other contexts; the results of the previously published studies revealed mixed results such as the drivers of quality management are based on the type of business. Finally, this research gives small insights and directions toward conducting additional studies concerning customer awareness about Halal products.
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Fahmi Ali Hudaefi and Kamaruzaman Noordin
This paper aims to develop a performance measure for Islamic banks (IBs) by harmonizing related studies. Furthermore, this work uses the developed yardstick to analyze the…
Abstract
Purpose
This paper aims to develop a performance measure for Islamic banks (IBs) by harmonizing related studies. Furthermore, this work uses the developed yardstick to analyze the performance of a sample of 11 IBs from across different countries.
Design/methodology/approach
This paper uses the mix-mode method. The qualitative approach is engaged first to construct the IBs performance yardstick. Following this, the quantitative approach is applied through the use of the performance yardstick to measure the sample’s performance.
Findings
This study develops a maqāṣid-based performance yardstick adapted from previous works. The developed model in this study is called an integrated maqāṣid al-Sharīʿah--based performance measure (IMSPM). By using this performance measure, the present paper finds that the sample performed highest on the objective of nafs (self) over the three-year period. In addition, this study identifies the information which best indicates the sample’s performance during the analysis.
Research limitations/implications
This paper uses the sample’s annual reports. The analysis is thus limited to informational disclosure.
Practical implications
Islamic banking and financial institutions may use the IMSPM to communicate a measurable report on their promotion of the maqāṣid al-Sharīʿah (objectives of Islamic law).
Social implications
The evidence from 11 IBs is indicative of their efforts to realize maqāṣid al-Sharīʿah in the banking industry. This point may best challenge the practice of stigmatizing IBs for not being in line with the Sharīʿah (Islamic law) or of imitating conventional banks.
Originality/value
The novelty of this study lies in two points. First, this study harmonizes previous works to integrate financial and religious measures in a single yardstick. Second, by using the developed standard, this study offers a fresh insight into the global IBs’ performance, represented by 11 IBs worldwide.
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Mastura Jaafar, Andrew Ebekozien, Daina Mohamad and Ahmad Salman
Managing biosphere reserves (BR) have become more challenging regarding the socio-cultural conflict between communities and BR administrators. For the past two decades, community…
Abstract
Purpose
Managing biosphere reserves (BR) have become more challenging regarding the socio-cultural conflict between communities and BR administrators. For the past two decades, community participation (CP) has become the central narrative for BR management practices in Asia. This paper aims to set out to analyse the current literature because of the paucity of systematic reviews on CP in Asian BR. Also, it proffers possible solutions to enhance biosphere performance.
Design/methodology/approach
In total, 31 related studies were identified from the Scopus, Web of Science databases and materials from organisations in the field of practice of territorial conservation. Three themes emerged from the review – willingness to participate, encumbrances and possible solutions.
Findings
Factors that influence community willingness to participate in a BR, encumbrances facing the community and possible policy solutions to enhance CP in a BR in Asia were the three themes that emerged from the review. The factors that influence community willingness were categorised into the level of participants in education, perceived waste of time, no confidence of the outcome, okay with current management, land owned, household size and gender factors.
Research limitations/implications
This paper’s recommendations were based on empirical literature reviewed systematically but do not compromise the robustness concerning BR management practices in Asia. It was established that to enrich the findings of this research, regional studies of CP in BR should be conducted, including primary source data using the mixed methods paradigm.
Practical implications
As part of the practical implications, recommendations were highlighted to enhance CP in BR. Also, the paper suggested that BR administrators should have two-way communication mechanisms, cross-sectoral participation and collaboration, implement locally-based solutions through full engagement of community members in decision-making.
Originality/value
This is probably the first systematic review paper on BR management practices in Asia. Filling the theoretical gap via systematic review was part of the significant contribution to CP in Asian BR.
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