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The goal of this paper is to validate the second-order model for the economic welfare scale in the context of violence. This study also aims to assess the relationship between the dimensions of the economic welfare scale’ declining food consumption and loss of income and the overall latent construct and assess the second-order model’s goodness of fit using appropriate fit indices.

The study is cross-sectional with a sample of 600 households from the violent zone, Northwest Nigeria. The data collected was used for confirmatory factor analysis, second-order model evaluation and model fit evaluation.

The second-order model for the economic welfare scale is valid and reliable; the dimensions significantly affect the formation of the overall construct. The model’s goodness of fit fulfilled the relevant fit indices.

The study offers researchers and policymakers practical insights into how each dimension influences the latent operational construct. It, therefore, encompasses replication in all the remaining modules.

The findings offer practical insight to policymakers in designing policies for promoting long-term peace structures and developing mechanisms to assist those who have suffered the greatest economic welfare losses due to violence in Nigeria.

The findings form an essential tool to assess the economic welfare effect in violently affected territories at the micro-level.

The outcomes are ground-breaking by validating the second-order model for the economic welfare scale. And established dimension influences over the overall latent variable.

Islam stresses on the practice of transparency and sufficient disclosure particularly when it concerns the ethical identity of Islamic institutions. This is to make sure that the activities conducted in business adhere to Shari’ah principles. The purpose of this paper is to examine the impact of Shari’ah-compliant status on the accuracy of initial public offering (IPO) earnings forecasts and to investigate the effect of the existence of Muslim directors on IPO companies’ board of directors on the accuracy of earnings forecasts.

This study makes use of absolute forecast error as a proxy for earnings forecast accuracy. As obtained from the list of Shari’ah-compliant securities established by the Shari’ah Advisory Council of the Malaysian Securities Commission, the study sample comprised 190 Shari’ah-compliant and non-compliant IPOs. The collected data were analyzed through univariate analysis and ordinary least squares regression.

The initial findings show that during the study period, the earnings forecasts of Malaysian IPOs are accurate to some level, although such level is still unsatisfactory. The findings also showed that Shari’ah-compliant status and Muslim directorship do not positively affect the accuracy of IPO earnings forecasts.

The findings of the study provide some implications for regulators, financial analysts, investors and users of financial statements, particularly those desirous of investing in Islamic capital market.

The present study provides a new and far-reaching contribution into the debate about the earnings forecasts disclosure in the context of Islamic ethical perspective. In addition, this study is considered as the first study to extend IPO literature by examining the impact of Shari’ah-compliant status and Muslim directorship on the accuracy of management earnings forecasts disclosed in the IPO prospectus.

This study aims to investigate the influence of the Islamic retail mix of product, price, promotion and store atmosphere on consumers' purchase decisions.

The research method is a survey with a purposive sampling technique, involving 100 respondents. The data was analyzed using the SEM PLS analysis tool.

Products and promotions are partially insignificant to purchasing decisions in Islamic retail. This is because consumers are convinced of all the products offered by the sharia retail mix, so they are less concerned with products and promotions. However, this study reinforces that price and store atmosphere has a significant impact on purchasing decisions in Islamic retail.

This study focuses on product, price, promotion and store as its variable dependent, with two of the variables are less significant compared to the rest. In addition, the samples are relatively small, leading to concerns about its ability to generalize the results of the study. The instruments that are used are also relatively limited. Additionally, the relevant characteristics of respondents are not evenly distributed. Thus, further study investigating similar topics might need to increase the number of samples, expand the characteristics of the sample, and including such variables as process, location, brand equity and customer’s trust level.

To encourage consumers to make purchases on Islamic retail, companies should emphasize price and store atmosphere, which are the main considerations for consumers in making purchases at Islamic retail. Product and promotion are less prominent in Islamic retail because they are similar to those carried out by conventional retail.

This paper is significant in investigating the effect of sharia retail product mix, price, promotion and store atmosphere on consumer purchasing decisions at Sehati Muslim Mart Daarut Tauhid (SMM-DT), which is located in a famous boarding school in Indonesia. This study has succeeded in revealing the strengths and weaknesses of the variables that influence consumer purchasing decisions in Islamic retail.

Islamic finance and Halal product sectors are thriving successfully. This chapter is a general review of the perception of Asian consumers on Islamic finance and Halal sectors in the global Halal economy.

The first section will briefly describe the Halal concept in both Islamic finance and Halal industries, and the growth of both sectors in Asian countries. The second part highlights the review of Asian consumers’ perception towards Islamic finance products and Halal products.

The review found that the consumers’ perception towards the Islamic finance products and Halal products is distinctive. This is due to the diversity of Asian countries in terms of geography, religion, culture, ethnic, school of thoughts (madzahib), income per capita and government’s involvement.

The third part of the chapter concentrates on planning towards Halal marketing, which involves the move and future challenges in different layers of industries to gear up and strengthen the Halal economy.

This study aims to find out the problems of family Takaful (Islamic Life Insurance) operations in Bangladesh and proposes strategies to overcome the problems.

Qualitative data were collected through interviews with 32 respondents from two family Takaful operators in Dhaka, Bangladesh.

The study finds a number of problems of family Takaful which relate to the government, Takaful company and the Shariah board. Lack of governing guidelines for Takaful companies in Bangladesh is causing numerous operational problems of family Takaful. To overcome these obstacles, the government should propose separate Act for Takaful. This requires support from the stakeholders along with Islamic scholars in the country.

It is anticipated that the findings and suggestions of the study will assist the policymakers in improving the situation of family Takaful companies particularly in Bangladesh.

If the proposed suggestions are implemented in Takaful companies, the problems facing Takaful will likely be solved and more people will take part in Takaful. This would contribute to developing the country economically, raise Islamic values and foster peace and harmony in the society.

Mainly, this study is based on the primary research that has been conducted in family Takaful companies in Bangladesh.

This study enables to critique the development of a sustainability strategy brand; integrated reports, sustainability reports, usage of safe internet and online learning skills to reduce inequalities and increase stakeholders’ values.

Digi Telecommunications (Digi) has been publishing annual sustainability reporting in line with Global Reporting Initiatives since 2009. Albern Murty, Chief Executive Officer (CEO) of Digi, the largest player in the mobile telecommunications industry in Malaysia by the number of subscribers, decided to establish a responsible business brand known as Yellow Heart in 2018 to better serve their stakeholders demand. There was a low stakeholder understanding of Digi’s sustainability efforts and societal impacts. Digi’s Sustainability department aspired to make Yellow Heart the best industry practice for continuous improvements by making Responsible Business commitment one of the main pillars of the company’s strategy and vision. Yellow Heart was linked to Sustainable Development Goals (SDG)10 on reducing inequalities by focusing on Digital Inclusion and Resilience to increase safe access opportunities, provide marginalized communities with opportunities to pursue interests in digital learning pathways and create a more sustainable digital future for all. The case study illustrates the sustainability management at Digi and the planned migration from sustainability reporting to integrated reporting to build trust in the business with all the stakeholders. The case dilemma involves the challenges that Philip Ling Oon Hun, the Head of the Sustainability, faced in deciding the SDGs to focus on and measuring and reporting their outcomes to contribute to the greater good, not only in pure business terms but also to society at large.

This case is appropriate for undergraduate or graduate-level programs in Accounting, Corporate Governance and Strategy Implementation.

Teaching notes are available for educators only.

CSS 1: Accounting and Finance.

One of the main challenge when launching new banking services is to overcome resistance to change so as to accelerate market acceptance. This is the case of an Islamic credit card (ICC). Grounded in innovation diffusion theory (IDT) and theory of reasoned action (TRA), this paper aims to study the purposes and empirically tests an integrated model to explore, which factors influence of ICC.

Partial least squares and structural equation modeling was used to assess the hypotheses. Accordingly, the empirical results, obtained in a sample of 762 bank customers.

Intentions to use of ICC are mostly determined by relative advantage, compatibility, customer awareness, satisfaction and attitude. The combination of IDT and TRA significantly explain the ICC adoption.

This research has provided a theoretical understanding of the ICC adoption determinants with the intent of promoting a more in-depth understanding of various elements influencing acceptance and usage of this Islamic banking service.

This study aims to analyse the mechanism of trust instrument from a Shariah point of view. Analysis of the mechanism would determine the extent to which its implementation can resolve estate planning issues such as frozen estate and the issue of naming beneficiaries under the age of 18.

This is a qualitative study method through library research. To explore the mechanism of trust instrument, an in-depth interview with five participants using purposive sampling and analyses of documents were used. The selection of this sample allows the researcher to obtain specific data in their field of expertise. Therefore, two officers from the Trust Administration Department of Amanah Raya Berhad (ARB) and three Shariah advisors from ARB (MPS ARB) were interviewed to find out the mechanism of trust instrument from the Shariah perspective. The researcher also referred to the trust deed documents, ARB company policies, field case studies such nomination cases and trust accounts, articles and court cases.

The trust instrument meets Shariah requirements even though it is based entirely on the Civil Law. The comprehensive and flexible features of trust deeds can help donors to plan systematically during their lifetime.

This study only focuses on the trust instruments that are currently being implemented in the ARB. Five trust products were analysed to achieve the objectives of the study, namely, the Normal Trust, Safecare and Safecare Premium, Takaful Care, Hibah (literally “gift”) as well as Trust and Declaration of Hibah.

The implementation of trust instrument at an early stage can ensure the property is well managed through a trust deed, guarantee the life of the beloved heirs after the death of the donor and prevent the property from being frozen.

This study comprehensively describes the trust instrument from the Shariah perspective and its implementation mechanism in the industry.

This study aims to predict the adoption of mobile services among muzakki (Islamic taxpayers) through the integrative roles of technology acceptance model (TAM), perceived trust and religiosity.

A questionnaire was distributed to 209 muzakkis as this research’s respondents. The partial least square was used to evaluate the relationship between TAM, perceived trust, religiosity and the adoption of mobile zakat services.

This study finds that perceived easiness and religiosity play a positive and significant role in increasing the adoption of mobile zakat services. Meanwhile, perceived usefulness and perceived trust do not have any influential role in generating muzakki adoption behavior.

This study underlines the importance of digital zakat institutions making easy-to-understand and easy-to-access online platforms for the broader community. In addition, they need to collaborate with formal and non-formal religious education institutions to increase zakat awareness and its benefits for marginalized groups.

To the best of the authors’ knowledge, this study is the first to integrate the TAM theory, perceived trust and religiosity in estimating muzakki adoption of mobile services.

The purpose of this paper is to investigate whether or not the presence of female directors at the time of an initial public offering (IPO) can be considered as a signal of IPO quality.

A sample of 220 Malaysian IPOs over the period of 2005–2015 was used. This study employed the mean regression technique (ordinary least squares and White’s heteroskedasticity-consistent standard errors) and the median regression technique (quantile regression) to examine the signalling power of female directors on the board at the time of an IPO.

The results show that the presence and proportion of female directors at the time of the IPO have negative effects on IPO initial returns (IR). The negative effects occur at both the conditional mean and the dispersion of IPO IR. These results are robust to endogeneity bias.

The findings of this study suggest that female directors on the board at the time of an IPO can be considered as a desirable signal of IPO quality. As a result, IPO issuers can consider signalling the quality of their IPOs by having female directors on their boards. Likewise, market participants can use female directors as an instrument to value an IPO.

Studies on the impact of female directors on the board have largely been centred on established companies. Thus, this study contributes to the literature by examining the signalling role of women at the time of an IPO, which is considered as a significant milestone in the lifecycle of a company.