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Islamic home financing products with Murabaha contracts are widely favored among the Muslim community in Indonesia, given that the country has a population of over 230 million Muslims. To facilitate the development of products and enhance public interest, it is important for Islamic banking institutions to comprehend the elements that may impact the intents of Muslim communities in Indonesia when selecting Islamic home financing products with Murabaha contracts. The purpose of this study is to ascertain the many aspects that may have an impact on the decision-making process of Muslim communities in Indonesia when selecting Islamic home financing product that use Murabaha contracts.

The partial least square-structural equation modeling data processing techniques will be used to process and evaluate these components. The data used in this study was acquired by administering questionnaires to a sample of 298 Muslim communities, which were randomly selected from a pool of 301 possible customers of Islamic house finance in Indonesia.

The results of this research show that attitude, subjective norms and perceived behavioral control have positive influence on intention to choose an Islamic home financing scheme with Murabaha agreement, while price fairness of Islamic home financing and Islamic altruism have direct and indirect influence on intention to choose Islamic home financing.

Analyzing factors that affect intention to choose Islamic home financing product under Murabaha contract is essential. Future study is required to analyze other Islamic home financing products, such as istisna, ijarah muntahia bi tamlik and diminishing musharakah. This study only serves as a foundation for further investigations into conventional approaches to home financing in emerging nations. The areas can be expanded to be implemented in other countries.

It is anticipated that Islamic banks have the capacity to cultivate a favorable and constructive perception, hence fostering a positive disposition among the Muslim populace in Indonesia. Furthermore, it is essential for Islamic banks to guarantee that all stakeholders within the sharia-compliant institution, particularly the frontline staff, have enough expertise and understanding of the intricacies of Islamic home financing products including Murabaha contracts, which are intended for prospective customers. In the foreseeable future, it is anticipated that the Muslim population in Indonesia would exhibit a greater intention toward the use of Islamic home financing solutions that use Murabaha contracts, facilitated by the establishment of a conducive environment.

This research integrates the impacts of pricing fairness and Islamic charity as a modified model, alongside the theory of planned behavior model, to examine the influence of these factors on individuals’ intentions to use Islamic home financing in Indonesia.

This paper aims to propose a model for democratization of Islamic home financing to tackle the issue of sustainability of homeownership affordability.

A conceptual framework and fractional equity model (FEM) are developed to incorporate big data analytics, artificial intelligence and blockchain technology in an ecosystem for affordability and sustainability of homeownership via the proposed financing model. In addition, the FEM adopts the simulation approach to show its validity in terms of liquidity when compared with traditional home financing. In this regard, this paper is focused on developing and demonstrating the feasibility of a new financing model, rather than testing specific hypotheses or relationships. This is to propose the democratization model for Islamic Home Financing that will not benefit the prospective home buyers without compromising the profitability of the financial institutions.

The findings indicate that the proposed end-to-end solution within the financing ecosystem can lead to more efficient matching market between the buyers and sellers of houses, reduced transaction costs, greater transparency and enhanced efficiency which in the end could lead to lower costs of owning homes and sustained financial resilience among house owners. The findings indicate that the FEM model is able to increase homeownership with more elements of liquidity, marketability and sustainability for homebuyers.

This research highlights the potential of big data and blockchain technology in democratizing Islamic home financing and evidence that the transfer of ownership is possible through tokenization. However, this will require a mature financing environment to adapt the technology for practical application.

The model proposes a solution to propagate shared prosperity among stakeholders such as the house buyers/owners, sellers, investors as well the government agencies. The proposed FEM model provides alternative home financing that is more marketable, flexible and sustainable for households/buyers and financiers.

It is hoped that with the proposed financing ecosystem to promote affordability and sustainability of homeownership via big data analytics, artificial intelligence and blockchain technology can lead to greater financial resilience for homeowners which can then be translated to enhanced well-being, increased productivity and can further promote economic growth.

This research is a concept paper based on academic research and industry collaboration with a technology provider.

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.

This study aims to investigate the dynamic interaction between interest rates and commercial property financing offered by Islamic banks in Malaysia.

The authors use the autoregressive distributed lag (ARDL) cointegration methodology to analyse the short- and long-run effect of the interest rates and rental rates on commercial property financing of Islamic banks in Malaysia between 2010: Q1 and 2018: Q2.

The findings reveal that changes in interest rates affect Islamic commercial property financing. This indicates that Islamic banks still rely on interest rates as a benchmark without fully implementing Islamic rental rates. This corroborates the subsequent finding, where overnight policy rates influence commercial property financing.

Despite the authors’ attempt to provide insights into Islamic commercial property financing, the study is limited to secondary data; further research can use survey information to obtain other details that are not included in this study. Similarly, this study does not cover the operation and financial lease debate in Musharakah Mutanaqisah. Future studies can examine the challenges faced by the financial institution towards implementing rental rates in other emerging and developing countries using a different methodology.

This study is the first to investigate the dynamic changes in overnight policy rates, average lending rates and rental rates on Islamic commercial property financing in Malaysia using ARDL techniques. The authors uncover the research and institutional implications of Islamic commercial property financing rates and provide policy and future research directions coupled with the proposed modified rental rate to be developed.

The purpose of this study paper is to highlight certain related barriers and issues of housing affordability and examine the factors that influence housing affordability in Malaysia.

This study used panel data including several variables, namely, household expense, population, home financing, interest rate, inflation rate (IF) and rental rate (RR). The regression models of panel data, namely, the ordinary least square model, the fixed effects model and the random effects model, were evaluated for their suitability.

The findings revealed that RR and IF have a positive and significant impact towards housing affordability. The results provide strong evidence that RR as alternative in determining the home affordability as it helped in reducing the cost and the financing duration period of houses while at the same time increasing the level of capability of homeownership. Meanwhile, the level of IF has positive and significant impact towards housing affordability because it will cause a drop or increase in the purchasing power of households, as well as a decline or increase in the capability to own a house.

The most significant aspects to consider when analysing housing affordability in Malaysia are demand and supply. However, this study focuses on only five variables and only covers Malaysia. As a result, future researchers should analyse the study’s location, such as by region or district, and include additional variables from both the demand and supply sides. Homeownership of affordability requires a broader and more realistic definition in the current context of a more disruptive environment where technology such as fintech, blockchain and the internet of things acts as enablers for not only promoting homeownership but also ensuring homeownership sustainability. As a result, democratising Islamic home financing appears to be a viable option that requires rethinking, and further research is recommended.

The study proposes an end-to-end solution to promote homeownership levels by considering the level of RR as significant variables among stakeholders such as the house buyers/owners, sellers, investors as well the government agencies in influencing affordability in Malaysia.

This paper discusses the indicators of housing affordability index over the 21-year period of 2000–2020, covering all states in Malaysia. The comparison of affordability level can be seen through all states and by regions. Besides that, the findings revealed that RR and IF have a positive and significant impact towards housing affordability. RR is considered an essential variable in promoting homeownership in Malaysia and warrants further investigation towards policy implication. This paper also provides contribution on data on RR by states in Malaysia that can be used by policymakers to some extent.

This study aims to address the critical need for innovative financing solutions in the global housing sector, focusing specifically on Malaysia’s distinct housing finance system encompassing both conventional and Islamic loans. The primary objective is to develop a transformative housing finance model that addresses affordability challenges and reshapes the Malaysian housing landscape.

The study presents an alternate housing finance model for Malaysia, integrating lower monthly payments and reduced household debt. Key variables include house price appreciation rates, interest rates, initial guarantee fees and loan-to-value ratios. Inspired by the Help to Buy (HTB) scheme, the model aligns with proven global initiatives for enhanced affordability, balancing payment amounts, loan interest rates and acceptable price thresholds.

The study’s findings promise to address affordability disparities and reshape Malaysia’s housing finance landscape. The emphasis is on introducing a structured repayment plan that offers a sustainable path to homeownership, particularly for low-income families. Incorporating the future value adaptation concept, inspired by reverse mortgages and Islamic finance, enhances adaptability, ensuring long-term sustainability despite economic shifts.

The proposed model promotes widespread access to homeownership, offering practical solutions for policymakers to improve affordability, prompting adaptable risk management strategies for financial institutions and empowering potential homebuyers with increased flexibility.

The study introduces a transformative housing finance model for Malaysia, merging elements from reverse mortgages, Islamic finance and the HTB scheme, offering potential applicability to similar systems globally.

The purpose of this paper is to examine the effects of Islamic finance on women empowerment in Africa between the periods of 1975 and 2021.

This paper uses secondary data for 27 African countries obtained from the World Development Indicators, World Population Review and the Varieties of Democracy databases. Four dimensions of women empowerment, namely, economic, social, political and household, are considered while Islamic finance is proxied by a binary variable with 1 and 0 representing the presence and the absence of Islamic finance, respectively. The two-staged least square estimation technique is used to control for the problem of endogeneity.

This study revealed that Islamic finance positively affects women empowerment in Africa. Specifically, Islamic finance has positive and significant effects on women political empowerment, women economic empowerment and women social empowerment in Africa but nonsignificant effect on home empowerment. These effects are more pronounced in middle-income than in low-income countries and in countries with higher penetration rate of Islamic finance.

Policymakers should put in place the necessary mechanisms for the promotion of Islamic finance such as the enacting of laws that ensures the creation of full-fledged Islamic banks, encouraging research in Islamic finance and Islamic economics. These policies should equally be backed by the creation of some accompanying measures such as the abolition of social norms that limit women’s ability to take part in decision-making.

To the best of the authors’ knowledge, this is the first study involving an Africa continent-wide analysis of the effects of Islamic finance on women empowerment.

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.

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.

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.