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Article
Publication date: 12 February 2024

Imran Mehboob Shaikh, Hanudin Amin and Nurul Ashiqin

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.

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Originality/value

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.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 19 February 2024

Hanudin Amin, Faizah Panggi, Imran Mehboob Shaikh and Muhamad Abduh

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

Abstract

Purpose

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

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 5 February 2024

Rafikul Islam, Kazi Md. Tarique and Siti Salwani Razali

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Practical implications

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.

Originality/value

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.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 29 January 2024

Imran Mehboob Shaikh and Hanudin Amin

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

The findings indicate that the e-wallet apps 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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 7 December 2022

Faizah Panggi, Hanudin Amin and Imran Mehboob Shaikh

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

Abstract

Purpose

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

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

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