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1 – 7 of 7Yaxin Ma, Fauziah Md Taib and Nusirat Ojuolape Gold
This study aims to merge the world’s proven ways of housing finance, including musharakah mutanaqisah, housing cooperatives and real estate crowdfunding, to present an alternative…
Abstract
Purpose
This study aims to merge the world’s proven ways of housing finance, including musharakah mutanaqisah, housing cooperatives and real estate crowdfunding, to present an alternative housing unaffordability solution based on the Islamic finance principle. It is intended to reduce the burden of funding for both sides (consumers and developers) and create win–win chances for all stakeholders, including intermediaries. By moving away from debt financing and merging the features of crowdfunding and cooperative, it is hopeful that the burden of home ownership will no longer be the case.
Design/methodology/approach
This paper presents the opinions of potential Chinese homebuyers (minority Muslims and most non-Muslims) and a few industry experts toward the proposed model via a mixed research method.
Findings
According to the findings, the majority of respondents agreed with the proposed paradigm. Just concerned that China’s lack of community culture and trust could pose a major threat to implementation. However, this paper argues that Chinese local governments may perform pilot testing in places where Islamic culture is prevalent. Their unique community culture and fundamental understanding of Shariah law may affect the viability of the proposed model.
Originality/value
The proposed model would increase the applicability of Islamic finance as a way of protecting the social order of communities in the spirit of upholding justice and fairness. A new type of housing loan based on musharakah mutanaqisah may squeeze out the real estate bubble and provide stakeholders with a multidimensional investment channel. In particular, the study identifies the impact of Chinese Islamic financing on government and cultural needs. It presents possible challenges for implementing the proposed model in reality and helps bridge the gap between theory and practice.
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Mohammed Basendwah, Suraiyati Rahman and Mohammed Alawi Al-Sakkaf
In the last decade, the concept of Islamic attributes of destination (IAD) has emerged due to Muslim tourists’ need to visit a destination that complies with Sharia law. Since…
Abstract
Purpose
In the last decade, the concept of Islamic attributes of destination (IAD) has emerged due to Muslim tourists’ need to visit a destination that complies with Sharia law. Since then, the IAD concept has been popular to increase the destination’s attractiveness and travel satisfaction for Muslim tourists. This concept evolved from evaluating the Muslim tourists’ perception of IAD to non-Muslim tourists and from assessing the Islamic attributes in Muslim-majority destinations to non-Muslim majority destinations. Furthermore, the literature showed several measurement scales to assess tourists’ satisfaction with IAD, and scholars were varied in the methods of analysis used to assess tourists’ satisfaction with IAD. The purpose of this study is to perform a systematic mapping study on satisfaction with IAD by answering five research questions.
Design/methodology/approach
This study used the preferred reporting items for systematic reviews and meta-analyses framework to guide the search process and search for relevant studies between 2012 and 2022 from two scientific databases, Scopus and Web of Science.
Findings
The search revealed 387 studies. In total, 31 articles met the eligibility criteria. This study indicates the journal considered research studies on tourists’ satisfaction with IAD the most, the method of analysis used in the previous studies, the Islamic destination attributes considered in the previous studies, the research distribution by counties, the research trend and the future direction.
Originality/value
To the best of the authors’ knowledge, this is the first systematic mapping study that delivers a summary of empirical research studies on tourists’ satisfaction with IAD.
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Yani Permatasari, Suham Cahyono, Amalia Rizki, Nurul Fitriani and Khairul Anuar Kamarudin
This study aims to examine the joint effect of accounting background and cross-membership of Islamic Supervisory Board (ISB) members on bank investment efficiency.
Abstract
Purpose
This study aims to examine the joint effect of accounting background and cross-membership of Islamic Supervisory Board (ISB) members on bank investment efficiency.
Design/methodology/approach
This study uses data collected from 36 Islamic banks across 15 countries globally, spanning the period from 2012 to 2021. This research uses an ordinary least squares regression and a comprehensive set of endogeneity and robustness tests.
Findings
The findings show a negative relationship between the accounting background of ISB members and investment efficiency. However, when ISB members with accounting backgrounds also have ISB cross-memberships, the banks exhibit high investment efficiency. These results suggest that ISB cross-membership plays a crucial role in facilitating Islamic banks’ access to timely information on investment opportunities. This enables ISB members with accounting expertise to thoroughly assess the benefits and risks associated with their investment prospects. These findings imply that ISB members with accounting backgrounds and cross-memberships have greater motivation and thoughtful considerations for making better investment decisions. Consequently, Islamic banks are better positioned to undertake high profitable investment projects, which enhance their investment efficiency.
Practical implications
The current study holds immense value for Islamic bank management in their selection of ISB members who possess an accounting background and cross-membership.
Originality/value
This study delves into a comprehensive investigation of the proficiency, underlying principles and unique characteristics exhibited by ISB members with an accounting background. Moreover, this study acknowledges the burgeoning global prominence of Islamic banks.
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Hajira Liaqat, Ishfaq Ahmed and Sheikh Usman Yousaf
This study aims to explore the phenomenon of Islamic religious communication and how Islamic banks in Pakistan use religion-based communication, along with its expected outcomes.
Abstract
Purpose
This study aims to explore the phenomenon of Islamic religious communication and how Islamic banks in Pakistan use religion-based communication, along with its expected outcomes.
Design/methodology/approach
Transcendental phenomenology approach is opted using a multi-stage data collection strategy consisting of observations, documentary reviews and semi-structural interviews to get deep into the phenomenon in a particular context.
Findings
Findings highlight Islamic religious communication as workplace Islamic da’wah that is majorly categorized into compulsive da’wah, objectics da’wah and impulsive da’wah, serving its role in bringing spirituality to work through work-faith integration.
Research limitations/implications
The finding of the study can be used in planning, formulating and implementing Islamic da’wah-based model to induce spirituality at work.
Originality/value
This study is the first of its type exploring Islamic da’wah in an organizational context as a mean to bring spirituality at work.
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This study aims to examine the effect of several factors on Muslims' intentions to invest in the Hajj fund Sukuk, Jordan. The study's hypothesis and model were derived from…
Abstract
Purpose
This study aims to examine the effect of several factors on Muslims' intentions to invest in the Hajj fund Sukuk, Jordan. The study's hypothesis and model were derived from previous studies.
Design/methodology/approach
The present study was undertaken based on a self-administered questionnaire of 356 Jordanians who are Muslims and non-investors in Hajj Fund Sukuk. The sample was selected using a purposive sampling method. The data were analyzed using Smart-PLS version 4.
Findings
The results indicated that social influence, knowledge, religion and return on investment significantly affect the purchase intention of Jordanian Muslims to invest in Hajj Fund Sukuk.
Research limitations/implications
There are some limitations to this study. First, the study was done in Jordan; thus, additional research might be conducted in other parts of the Islamic world to learn more about the perception of investing in Islamic Sukuk, particularly Hajj Sukuk. Second, while the present study used a quantitative research technique to achieve its purpose, it would be advantageous if the researchers used more qualitative techniques, such as interviews or focus groups, in the future to explore additional factors that may impact Muslims' intent to invest in Hajj Fund Sukuk.
Practical implications
The findings of the current study could help practitioners in the Islamic sukuk industry by identifying the key factors that encourage Muslims to invest in Hajj sukuk. They may use the results of this study in the formulation of marketing policies and the development of marketing strategies to persuade more investors to invest their money in these sukuk.
Originality/value
To the best of the author’s knowledge, this is the first study carried out to better understand the main factors that may influence Muslims to invest in Hajj Sukuk in the Jordanian context. Hence, this study contributes to increasing the body of knowledge in the area of Islamic marketing in general and in the field of Islamic sukuk investment specifically.
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Mohd Shahid Mohd Noh, Suffian Haqiem Nor Azelan and Muhammad Izzul Syahmi Zulkepli
This study aims to systematically review the literature on modern Islamic finance transactions pertaining to Gharar dimensions. Gharar is defined as uncertainty that potentially…
Abstract
Purpose
This study aims to systematically review the literature on modern Islamic finance transactions pertaining to Gharar dimensions. Gharar is defined as uncertainty that potentially leads to ambiguities and conflicts in contracts.
Design/methodology/approach
The articles reviewed in this study consisted of 13 articles related to Gharar published between 2013 and 2022. All selected articles were empirically and descriptively searched using specific keywords and strings. The main sources for this study were Scopus and Web of Science (WoS), whereas Google Scholar was a supportive database.
Findings
The review found that the dimensions that discussed previous research were trying their best to elaborating Gharar in modern financial transactions. They also demonstrate that rigorous study and deployment of the definition remain in the context defined by jurisprudence scholars. The focus of recent studies pertaining to Gharar is derivatives products that indicate high possibility of uncertainty in its operation.
Research limitations/implications
This method relies heavily on the accessed database, namely, Scopus and WoS, also referred to the articles as recommended by the databases. Furthermore, the criteria of inclusion and exclusion of papers outlined by the authors deemed as an intrinsic limitation in writing systematic literature review.
Originality/value
To the best of the authors’ knowledge, this paper is original in its nature whereby the scholars had different comprehension on how Gharar exists in transaction but they still centred in its original meaning of uncertainty. As a result, this paper also realized how Gharar were interpreted differently relied on the contract’s nature and behaviour. In addition, this paper is expected to contribute to understand how Gharar been interpreted in modern finance transactions and finally reached to the point that further research is needed in establishing Gharar parameter for each contract in Islamic commercial law.
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Yusuff Jelili Amuda and Shafiqul Hassan
This study reports the results of the empirical investigation of the Shari'ah legal framework which serves as a basis of the crowd humanitarian fund and poverty reduction among…
Abstract
Purpose
This study reports the results of the empirical investigation of the Shari'ah legal framework which serves as a basis of the crowd humanitarian fund and poverty reduction among members of Organization of Islamic Cooperation (OIC) for improving living conditions of less privileged people in the society.
Design/methodology/approach
Quantitative design was employed in this study and the population comprised middle and high-skilled workers among members of the OIC.
Findings
The results demonstrated that the majority of middle- and high-skilled workers were from the middle east and others were from Saudi Arabia, Asia and Africa respectively.
Research limitations/implications
Most studies on crowd humanitarian funds were theoretical in nature, this study has empirically investigated.
Practical implications
By making crowd humanitarian funds to be grounded within the framework of Shari'ah, it will enable majority of people in predominant Muslim countries to partake in mutual or crowd funding in order to help the less-privileged individuals among OIC members in the society.
Social implications
It is an important contribution for financial inclusion and economic growth for improving social and living conditions of the less privileged people in the society.
Originality/value
Most studies on crowd humanitarian funds were theoretical in nature; this study has empirically provided a substantial direction for activating the mindset of the empirical investigation of different financial concepts.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-12-2022-0773.
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