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The purpose of this paper is to look into millennials’ acceptance of Qard al-hasan using the Islamic theory of consumer behaviour (iTCB) in Malaysia.

For this study, convenience sampling was used and 203 usable questionnaires were received from the respondents who are millennials and university students. The questionnaire link was distributed via social media platforms to the millennials.

The findings of this study reveal that there exists a strong and positive relationship between the role of iman and Maqasid consumer index in determining the millennial acceptance of Qard al-hasan. On the contrary, Islamic altruism does not turn out to be the factor of Qard al-hasan acceptance. Resultantly, these results suggest that millennials in Malaysia accept Qard al-hasan and based on those educational institutions may consider offering zero-interest benevolent loans to alleviate the financial burden of unprivileged students.

Although this study provides positive results, a minimum of two research constraints may direct future efforts in this area. This study initially focuses on a specific ecosystem of Islamic financial products in Malaysia, with a particular emphasis on Qard al-hasan. As a result, subsequent research ought to strive to encompass a larger perspective on Qard al-hasan. Secondly, this research uses a theory that is still in the applicability phase, which has led to some productive discussions for further improvements.

To the best of the authors’ knowledge, this work is one of the few studies conducted on an empirical basis using the iTCB in the milieu of Qard al-hasan in Malaysia.

The purpose of this study is to develop a new framework to measure waqif preference of waqf-based qardhul hassan financing in Malaysia.

Using a maqāṣid approach, this study’s data were drawn from 286 valid usable questionnaires to examine the effects of consumer, family, ummah and humanity factors on the preference.

The study found that the said factors sourced from Attia’s maqāṣid al-Shariah were instrumental in determining waqif preference to donate in waqf-based qardhul hassan financing.

Like others, this study’s findings are limited in terms of their generalisations and applications. The theory, context and variables used should be expanded in future works.

The results obtained are useful as a yardstick to enable the offered waqf-based qardhul hassan financing for improved mutual well-being among different classes of the wealth of societal groups in Malaysia. Furthermore, the results provide valuable insights into the direction for practitioners mainly managers involved in introducing waqf-based qardhul hassan financing as a new Islamic social financial instrument for poor and needy folks, at best.

This study is novel in terms of the proposed conceptual framework, where the waqif perspective comes into play.

The sustainable development goals (SDGs) devised by the United Nations (UN) call on countries – whether rich or poor – to solve global issues, improve lives and save the planet for future generations. However, the UN predicts that between $5 and $7tn will need to be spent annually between now and 2030 to accomplish these goals, posing a major financial hurdle. Islamic social finance, if used ethically, seeks to realise SDGs through fairness, justice and equity. Thus, this study aims to determine how Islamic social finance instruments such as Zakat, Waqf, Sadaqat and Qard-hasan contribute to realising SDGs.

This study used a preferred reporting items for systematic reviews and meta-analyses-based systematic literature review. Scopus and Google Scholar were chosen for the qualitative and meta-analysis of studies. The topic was reviewed in 178 academic papers from 2000 to 2022. The required articles were analysed after careful review.

Islamic social financing mechanisms have the capacity to solve many social issues and create better welfare conditions by ensuring economic, social and environmental sustainability in line with the SDGs. Indonesia and Malaysia lead Islamic social finance research, the survey found. The review revealed that Islamic social funding can achieve 11 out of 17 SDGs. Islamic commercial finance can be used for the remaining goals. The paper highlights Islamic social funding research limitations and opportunities.

The review study shows that Islamic social finance can fill the SDG funding gap, especially considering the post-pandemic financial crisis that has increased global income inequality and social disparities.

To the best of the authors’ knowledge, this article is the first of its kind to review the potential of Islamic social financing instruments to help achieve the SDGs.

The purpose of this study is to examine donors’ or waqifs’ desire for waqf-based qardhul hassan financing in Malaysia using a maqasid method, where a pragmatic approach is used.

Using judgemental sampling, a total of 275 waqifs participated in this work to identify their preference in donating their money to the facility should it is introduced. Using the developed waqf-based qardhul hassan scale (WAQASCALE), this study examined the preference accordingly. Data were analysed using IBM SPSS 27.

The results obtained were as follows: the first factor considered by the waqifs in donating money was perceived household well-being, followed by perceived recipients’ welfare, perceived mankind benevolence and perceived Muslims’ community security.

The authors developed construct items that had generalisability issues as they were at the infancy stage of development among social finance scientists along with the narrow geographical constraint where the actual survey was conducted.

The results were useful in giving new guidance to state governments and Islamic banks (IBs) in Malaysia to explore further this sort of facility for the improved well-being of those affected by COVID-19. Besides, sustainable development goals (SDGs), such as poverty, hunger and responsible consumption, among others can be addressed effectively for the mutual well-being of those affected by the health crisis in an effort of combating financial hardships in the meeting of basic needs, at least. The partnership between the state government and IBs could lead to the offered qardhul hassan financing-sourced funding from waqf for reduced financial hardships by needy and poor folks.

This study introduced a new WAQASCALE in the context of qardhul hassan financing in Malaysia.

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this study is to develop a performance measurement model based on Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms.

A mixed-method research approach was adopted to conduct the present study. Priorities were assigned to various dimensions of the Maqāṣid model using analytic hierarchy process and by taking inputs from 18 Takāful experts. On the contrary, six experts were involved in identifying the elements and measures for the operationalization of the Maqāṣid dimensions.

Maṣlaḥa (0.359) was found to possess the highest priority, followed by Justice (0.345) and Educating Individuals (0.295). Furthermore, under Necessity, protection of religion (0.398) and protection of life (0.388) are assigned almost similar priorities. These two are followed by the protection of progeny (0.107), protection of wealth (0.058) and protection of intellect (0.047). The final outcome of this study is a hierarchical model for the evaluation of performance of Takāful firms.

The application of the performance evaluation model will provide information to the management of Takāful firms on where they stand in terms of fulfilling Maqāṣid al-Sharī’ah principles. If any firms are found to have a deficiency in a certain part of Maqāṣid components, then proper and adequate measures can be taken to ameliorate the situation.

It is necessary to have a performance evaluation model based upon Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms as these firms operate on the principles of Maqāṣid al-Sharī’ah. Because there does not exist any such model, this study fills up this gap. Details of the measures that can be used to evaluate the performance of Takāful firms are also provided.

Financial illiteracy could pose a significant challenge to micro-entrepreneurs. There is a pressing need to foster financial literacy;, therefore, the purpose of this study is to examine particularly how Islamic financial literacy may enhance their businesses toward achieving financial sustainability.

This study uses quantitative methods. Three hundred (300) questionnaires were distributed to micro-entrepreneurs in three states in Malaysia, namely, Kedah, Kelantan and Terengganu. This study used the partial least squares (PLS) analysis using the SmartPLS 3.2.

The study found that the most robust Islamic financial literacy factors are financial behavior, followed by financial knowledge and financial attitude .The outcome of Islamic financial literacy, which is financial sustainability, also demonstrates a positive and significant relationship.

All variables show a positive and significant relationship toward financial sustainability. Stated differently, micro-entrepreneurs are aware that understanding the basic concepts of Islamic finance may help them achieve long-term financial sustainability

This study incorporates Islamic financial concepts into financial literacy while also assessing demographic aspects like years of business operation and education as moderators, which were not considered by previous studies.

This paper aims to examine the determinants that influence acceptance towards e-wallet apps by extending the technology acceptance model (TAM) among (asnaf), a term used for charity or gift receivers from alms tax distribution institutions also known as donee.

The review of literature and structural equation modelling approach using judgemental sampling on extended TAM and determinants of e-wallet apps’ acceptance related to asnaf (donee) were conducted in a bid to contribute to the factors that are instrumental in determining acceptance of e-wallet services among asnaf.

The findings indicate that the e-wallet app’s service acceptance is determined not only by perceived usefulness, consumer maqasid index and consumer innovativeness but also by subjective norms. On the contrary, consumer maqasid index and perceived ease of use do not lend themselves to be the factor of asnafs’ e-wallet acceptance. The authors extend the TAM model to determine the factors that may be influential in predicting the e-wallet app acceptance by asnaf.

In assessing future outcomes when different sampling techniques are opted for and geographic coverage is expanded, this study should be considered in terms of the limited scope.

This study is intended to serve as a reference for making a significant contribution related to user acceptance factors related to alms tax-based e-wallet apps in asnafs’ context in Malaysia in terms of both theory and practice.

TAM is extended in the context of e-wallet app acceptance among asnafs’. A variable, namely, consumer innovativeness, is tested using the extended TAM model. To the best of the authors’ knowledge, consumer innovativeness in the context of asnafs’ acceptance of e-wallet apps is yet to be tested. Therefore, this paper will be a useful reference for policymakers, technologists, academicians and future researchers.

This paper aims to review 69 studies related to Muslim consumer behavior and determine the relationship between these topics and Islamic rationality. In addition, this paper elaborates on Al-Ghazali’s Islamic rationality model.

A text analytics approach is used to map 69 studies on Muslim consumer behavior. In addition, the historical-critical and inductive approach is used to identify Muslim scholars’ concepts and opinions regarding Islamic rationality, especially Al-Ghazali.

This study confirms that Muslim consumer behavior is in line with the concept of Islamic rationality proposed by Al-Ghazali. This is evidenced by a strong awareness of Islamic morals and values, which fosters a high commitment to halal products.

The findings of this study will provide essential benefits in the development of Islamic rationality theory, which can then be used as an alternative in explaining Muslim consumer behavior and also can be used as a reference for stakeholders in the industry to mainstream halalfication on products offered in the Muslim market.

The value of originality in this study lies in identifying the relation between Islamic rationality and Muslim consumer behavior, and this effort was confirmed through 69 selected studies related to Muslim consumer behavior.

The purpose of this study was to investigate the factors that influence the millennials’ intention to choose tawarruq home financing in Sandakan, Sabah, Malaysia.

The primary data were gathered via the questionnaire survey administered among Islamic banking customers in Sandakan, Sabah. Data obtained were analysed via multiple regression analysis using the software, Statistical Package for Social Sciences.

This study found that attitude, subjective norm, perceived behavioural control, religiosity and knowledge in muamalat had a positive significant relationship towards millennials’ intention to choose tawarruq home financing in Sandakan, Sabah.

This study used the sample size by inviting over 150 participants who filled the questionnaires and the area of coverage for the current study was limited to Sandakan, Sabah, Malaysia. Besides, the contributions of this study were confined to those factors examined in the research’s conceptual framework.

The results obtained through this study can help muamalat practitioners in providing the best practice of tawarruq home financing in the locality at best. In addition, this study also helps to guide managers of Islamic banks to plan better offers of the facility among local folks.

This study integrated religiosity and knowledge in muamalat in explaining millennials’ acceptance of tawarruq home financing in Sandakan, Sabah, Malaysia.