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The purpose of this paper is to investigate, in general, what are the contemporary external influences that have been dominant in Malaysian universities and what are the major local traditional practices that are also found in these universities.

From the literature review, the paper proposes a conceptual framework to explore hybridity in governance and management, programs and curriculum, teaching and learning, and research and service.

Using the conceptual framework, the paper discusses the Malaysian higher education in terms of Western influence and indigenization of Western models, the background context of Islamic universities and seven possible hybridities compiled from anecdotal evidences.

The conceptual framework and possible hybridities identified in the paper serve to provide the guide to a more systemic empirical investigation to examine the characteristics of Malaysian universities emerging from the interaction between external influence and local cultures. The Malaysian case also potentially contribute in exploring the question, “Are Asian universities different from Western universities?”.

From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making the documenting of its early days of establishment relatively difficult and somewhat unreliable. This is unlike conventional insurance, where the history and legislation are well documented and archived in various research (Hellwege, 2016; Marano and Siri, 2017). The purpose of this paper is to provide a chronology for the establishment and development of takaful via the takaful establishment in each jurisdiction, documenting its first takaful operator and first takaful regulation.

This paper has used a qualitative method in the form of reviewing literature and available data such as journals, books and official resources. The data is thoroughly analysed in order to build the chronology for takaful. It adopted an exploratory research design, which is deemed suitable in situations where few works of literature have examined the subject (Neuman, 2014). The paper explores the establishment and non-establishment of takaful in 57 countries. The paper categorises the countries into seven regions starting with the GCC, Levant, Asia, Central Asia, Africa, Europe and Others.

The takaful chronology presented in this paper shows that takaful operations exist in 47 jurisdictions, starting from Sudan and the UAE in 1979, with the most recent adopters being Morocco and Iran in December 2021. It is found that 22 jurisdictions do not have takaful regulations, and the Takaful Act 1984, issued in Malaysia, is considered the first takaful regulation that sets the basis for other regulations that follow.

The paper contributes to the literature by providing a comprehensive chronology of takaful, especially as the few existing timelines have been found to be incomplete and consist of contradictory information.

This article explores the concept of ‘linguistic landscape’ (Landry & Bourhis, 1997) and applies it to the Tutong Town Centre, which was depicted briefly in the film Gema Dari Menara (1968). Due to the cursory and grainy depiction on screen, a study of the present linguistic landscape of the town featured in the film is far more practical than a detailed comparison of the linguistic landscape of Tutong town then and now. In essence the film has provided a geographical scope for linguistic/ semiotic analysis presented in this paper. The study of signs ‘in a given geographical location’ (Ben Rafael et al, 2006: 14), using the distributive count approach, lends itself to a greater understanding of the ethnolinguistic vitality and sociolinguistic interactions of the language groups living in what can be described as a multilingual and multiracial small town. Such evidence of language use in the public sphere results from an interplay of various factors within the town’s societal context, that could be related to Scollon & Scollons’ (2003:2) idea of ‘the social meaning of material placement of sign and discourses'. This study challenges the notion of ethnic languages’ 'disappearance' from public sphere, and instead raises questions about their ‘initiation’ into public use. The study also concludes that the supposed multilinguality of the Tutong Town population is not represented in the linguistic landscape.

The paper aims to identify the differences between developed and developing country firms with respect to firm-specific and country-level determinants of their capital structure. For this purpose, all constituent firms in one of the oldest Islamic equity indices, Dow Jones Islamic Market World Index (DJIM), are considered and the Muslim-majority status of each firm's domicile country is recognized.

The study employs Hausman–Taylor random effects regression with endogenous covariates to explain the debt ratios of firms in DJIM by separating them into developed and developing country subsamples in an unbalanced panel data setting. Developing country subsample is further split into two based on the Muslim-majority status of each firm's domicile country.

Consistent with the previous literature, this study finds that firm-specific characteristics are the main determinants of their capital structure. Additionally, the paper shows that country-level characteristics have an impact on the debt ratio, however, the types of factors vary across developed and developing countries. Debt ratios in developing country firms are lower than those in developed country firms, largely due to the significantly smaller leverage ratios of firms in Muslim-majority countries. Although the debt ratios of DJIM firms are higher in “non-Muslim” countries, the set of firm-level capital structure determinants are not statistically explained by operating in a “Muslim” country. The study also documents that, before the global financial crisis of 2008, companies in developing countries have gradually become less leveraged worldwide.

This paper provides a new perspective into the differences between developed and developing country firms' capital structures by focusing on a relatively homogeneous data set restricted by leverage screening rules of an Islamic equity index and recognizing the Muslim-majority status of each firm's domicile country.

Local cultures under the nation-states have evolved and produced new concepts. Migrations and cultural interactions have also influenced the language. Thus, different conceptualisations of migration have developed in the “Malay World.” Language is not only a product of ecological and geographical environment, but it is also a result of human mobilisations and cultural intercourses. The differences caused by various Malay World conceptualisations are also related to different interactions, histories and social realities. In the “Malay World,” Bahasa Malaysia and Bahasa Indonesia are threatened by English hegemony. At this juncture, demonstrating these interrelationships helps one to understand local cultural intercourses between culture and social reality.

This paper implements the critical discourse analysis, notably, the dialectical–relational approach to different conceptualisations in the “Malay World.” Thus, it aims to discuss the reasons behind the usage of migration-related terms in Indonesia and Malaysia. How migration terms mainly shape social forms, process and circulate in the social world is argued in this paper. The authors target to investigate the local meaning sets for migration concepts and explore self-reflectivity in and critique of the usage of established images between Bahasa Indonesia and Malay concepts, using a Critical Discourse Analysis framework. The discussion section attempts to analyse and explain dialectical relations between social norms and social elements.

Trade diasporas, culture and identities of immigrants, cultural richness and multi-ethnicity have continuously diversified the conceptualisations. These concepts also indicate cultural dominations and exclusions. Thus, the migration dynamics in Southeast Asia might be understood by scrutinising these boundaries and patterns. This study showed that migration conceptualisations in the Malay world are substantially locally determined. Local wisdom and cultural codifications prevail in the migration context. A deeper understanding of the local context is essential in evaluating the international refugee protection mechanisms in these countries as neither Indonesia nor Malaysia are parties to the Geneva Convention Relating to the Status of Refugees.

Definitions of various types of migration are referred to in multiple terminologies throughout the Nusantara. While in Bahasa Melayu, migrant refers to pendatang, nomadic refers to nomad; refugee refers to pelarian, to migrate refers to berhijrah; in Bahasa Indonesia, migrant refers to migran, nomadic or nomad refers pengembara, refugee refers to pengungsi and migrate, or migration refers migrasi. At the same time, in the Nusantara, many communities define themselves according to their geographical features, such as Orang Sungai, Orang Laut or Orang Kuala. In this context, defining leads to a significant impact on shaping the discourses and approaches.

Definitions determine the borders, flexibilities, plausibility and flows of terms. Critical Discourse Analysis especially placed emphasis on languages and their impacts on social reality. According to Critical Discourse Analysis, terms and their genealogies, transformations and limits are vital in order to comprehend social facts and truth. To understand the change and continuity of migration flow in Southeast Asia, scrutinising the migration-related terms is crucial. This study aims to examine those main terms, their connection with other words, and their transformation in the Malay world sociologically. This as such will shed more light on the social changes regarding genealogical relationships and their usage in daily life within the Critical Discourse Analysis.

This study aims to fulfil the gap between authentic concepts of migration literature in Nusantara. Although Bahasa Melayu and Bahasa Indonesia have a strong connection and interaction, migration definitions in these languages are separated from each other. Cultural and social elements greatly influence migration-connected terms in Bahasa Melayu and Bahasa Indonesia. Without this understanding and the absence of local context, any assessment of their refugee protection systems may be incomplete. This study deals with different cultural nuances and refinements and their migration conceptualisations and histories are based on the ground of their social realities.

The purpose of this paper is to unveil the intricacies of bakat art of weaving; its origin; processes; uses; primary materials and principles used; the profile of the weavers; and its economic significations in the system of production and trade.

The study used a descriptive–qualitative design with 35 key informants using narrative analysis. The unstructured questions listed in the interview guide were used during the interview. Responses were recorded using an audio–video recorder. Coding sheets were used in the actual transcription of data.

The results showed dependency on the bakat art of weaving with the available resources found in the environment. Its economic significations showed a sustainable impact on the weavers’ life. The bakat art of weaving represented the values of resiliency to hardships, adaptability to changes, passion to craftsmanship, sense of community and family centeredness. Aspiring craftsmen and artists may enhance continuously their craftsmanship for sustainable development with government support through the creation of the School of Living Traditions.

The study was limited to bakat art of weaving based on the responses of the key informants that were subjected to a point of saturation without sacrificing robustness, brevity, credibility and dependability.

Though the economic side of bakat art of weaving is sustainable within the village, it can create a powerful branding for cultural recognition that would transform the town of Barili into a creative weaving hub in Cebu. This creates the balance of the historical significance of bakat art of weaving and the tourism sector in promoting sustainable development.

Bakat art rekindled the spirit of consciousness among the majority of the Cebuano public for preservation and promotion.

The study is original because this has not been published.

This paper aims to examine the extent of price clustering in a selection of Islamic stocks listed in Indonesia, Malaysia and Pakistan and also investigates the determinants of the phenomenon at the firm level.

The author test the uniformity of price distribution in the selected securities. Then, the determinants of price clustering were investigated through multivariate analysis based on a binary logistic regression model. Following the arguments of Narayan et al. (2011), who emphasize the importance of considering firm heterogeneity when studying the phenomenon, the author conducts the empirical study at the firm level.

The evidence indicates that Islamic stocks show a mild level of price clustering. Only half of the stocks under analysis rejected the uniformity test in the distribution of prices. In these cases, investors exhibited a preference for prices ending at zero and five. The evidence does not confirm the cultural clustering theories. Price clustering is found to be positively associated with price level and relative bid-ask spread. Overall, the negotiation hypothesis, which predicts that investors prefer round prices to minimize the costs associated with negotiations, best explains most of our results.

The existence of price clustering is difficult to reconcile with the prediction of the efficient market hypothesis that prices should follow a random walk. Moreover, the evidence indicates that Muslim investors share a preference for round prices in some settings, under the assumption that Islamic stocks are mostly traded by Muslim investors.

To the author’s best knowledge, this is the first study to address the subject of price clustering in Islamic stocks.

This paper examines the national solidarity in Brunei Darussalam during the COVID-19 pandemic and its consequential impact on younger generations. Utilising Emile Durkheim's solidarity theories, I examine how young people's social media use builds on state discourse in the pandemic. I contend that a shift towards an organic society is visible through a social cohesion that is based on differentiated roles. I argue that the citizenry plays a vital role in the forward momentum toward Industrial Revolution (IR) 4.0, which illustrates that solidarity cannot be forged as a top-down directive. By prompting economic and creative divisions of labour, the local use of social media in a public health crisis has shown the government a new way to foster solidarity. Significant implications for youth as future leaders of the nation are discussed.

This paper aims at explaining variances in the contribution of Islamic crowdfunding platforms (ICFPs) to sustainable development (SD), by adopting an institutional logic perspective (ILP). ICFPs represent a dual institutional overlap between two logics (the Western-mainstream and the Islamic logic) which have an impact on corporate social responsibility (CSR) interpretations, practices, and decisions and whose conflicts are mitigated by choosing different resolution strategies. The authors aim at showing that this choice affects SD differently.

The authors develop a conceptual typology through the following steps: (1) choice of variables and identification of corresponding variable domains, through literature review. Variables chosen are the elemental CSR dimensions related to various social and environmental corporate responsibilities to whom diverse meaning and emphasis are given under the Western-mainstream and Islamic logics. (2) Identification of three distinct ideal types of ICFPs, building on different resolution strategies to mitigate conflicts between logics; (3) development, for each ideal type, of a set of implications related to SD; (4) implementation of a first test aiming at assigning real cases to each ideal type.

The authors identify Western-mimicking (platforms adopting as resolution strategy decoupling or compartmentalizing strategies), Islamic-driven (platforms focusing on one prevailing logic) and Syncretism-inspired (platforms adopting hybridizing practices) ideal-types.

It is the first paper suggesting ILP to explain variances in crowdfunding platforms' role in addressing SD. It focuses on a specific type of CF platforms till now neglected.