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Article

Asmadi Mohamed Naim, Mohd Noor Habibi Hj Long, Mahyuddin Abu Bakar and Muhammad Nasri Md Hussain

The purpose of this paper is to examine the Shariah view on the legitimacy of requiring the entrepreneur to prove that he/she has complied with all business requirements…

Abstract

Purpose

The purpose of this paper is to examine the Shariah view on the legitimacy of requiring the entrepreneur to prove that he/she has complied with all business requirements in case the actual profit was below the expected profit in trust-based contracts such as mudarabah and musharakah.

Design/methodology/approach

This paper is part of the research which applies qualitative research approaches, including among others, content analysis, interviews, observations and descriptive analysis using fiqh muqaran (comparative analysis of jurists’ arguments) in few phases.

Findings

The study found that shifting the burden of proof to the fiduciary is the weightier view and necessary to ensure that both sides are protected. The considerations of protecting people’s wealth (ḥifẓ amwāl al-nās) and mitigating widespread greed (ṭamaʿ) are among the reasons for allowing elements such as ʿurf, tuhmah and dalālat al-ḥāl to be treated as bayyinah in trust-based contracts when the fiduciary is obliged to defend himself from litigation.

Research limitations/implications

The study is meant to strengthen the practices of Islamic banks world wide.

Practical implications

Few protections can be applied for capital provider.

Social implications

This study is meant to give solution in dealing with moral hazard of both parties, and to provide solution to the regulator for policy drafting and to increase confidence to the industry.

Originality/value

The finding is important in assisting the regulators in drafting the policy to protect both parties without neglecting the essence of trust-based contracts.

Details

Journal of Islamic Accounting and Business Research, vol. 7 no. 2
Type: Research Article
ISSN: 1759-0817

Keywords

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Article

Norazlina Abd. Wahab, Zairy Zainol and Mahyuddin Abu Bakar

This paper aims to present a conceptual model on service quality of zakat institutions that are responsible for collecting, managing and distributing zakat in Malaysia…

Abstract

Purpose

This paper aims to present a conceptual model on service quality of zakat institutions that are responsible for collecting, managing and distributing zakat in Malaysia. Zakat is an Islamic religious “tax” charged on the rich and well-to-do members of the community for distribution to the poor and the needy as well as other beneficiaries based on certain established criteria according to the Qur’an. The main aim of zakat is to protect the socio-economic welfare of the poor and the needy.

Design/methodology/approach

The paper reviews and synthesizes the relevant literature on service quality. The paper then proposed a conceptual model to study the service quality of zakat institutions.

Findings

The paper identifies the appropriate methods to examine the extent of service quality of zakat institutions. Such evaluations are crucial for organizations like zakat institutions to function effectively to achieve the noble objectives of socio-economic justice through proper distribution of wealth.

Originality/value

This paper presents a conceptual model of service quality of zakat institutions which would be useful for further empirical research in this area. The findings are not only relevant and applicable to Malaysia but also to other Muslim countries.

Details

Journal of Islamic Accounting and Business Research, vol. 8 no. 3
Type: Research Article
ISSN: 1759-0817

Keywords

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Article

Amin Akhavan Tabassi, Mahyuddin Ramli, Abu Hassan Abu Bakar and Abd. Hamid Kadir Pakir

A need for effective leadership and adequate managing the personnel is vital for every construction organization. Meanwhile, the dynamic and complex environments of the…

Abstract

Purpose

A need for effective leadership and adequate managing the personnel is vital for every construction organization. Meanwhile, the dynamic and complex environments of the industry may be caused that not much research has been conducted on leadership practices in the industry. The purpose of this paper is to study the leadership style of the construction leaders in Iran and explore the correlation of transformational leadership practices with teamwork improvement in the construction companies.

Design/methodology/approach

The research analysis was completed on a sample population of 107 managers within nominated construction firms in Iran. The analysis methods in this research were mainly descriptive and regression-based analyses and the type of investigation was a co-relational study.

Findings

The research found the level of the leaders’ orientation for people and task in their leadership style, their transformational leadership qualities, and the relationship of transformational leadership with teamwork improvement in the respondents’ companies.

Originality/value

The study is the first to investigate the leadership style of the construction leaders in Iran, and weather transformational leadership practices effects on teamwork improvement in the industry.

Details

Journal of Management Development, vol. 33 no. 10
Type: Research Article
ISSN: 0262-1711

Keywords

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Article

Khoutem Ben Jedidia and Khouloud Guerbouj

This study aims to examine the impact of zakat on the economic growth for a sample of Muslim countries. As a matter of fact, Zakat is a religious tax on wealth paid…

Abstract

Purpose

This study aims to examine the impact of zakat on the economic growth for a sample of Muslim countries. As a matter of fact, Zakat is a religious tax on wealth paid annually to specified recipients. As it leads to income redistribution and increases the aggregate demand, zakat can be a growth factor in the Islamic framework.

Design/methodology/approach

This paper is based on a dynamic panel data model for the purpose of investigating the role of zakat in the economic growth for a sample of eight Muslim countries during the period ranging from 2004 to 2017. The general method of moments is applied.

Findings

The findings provide evidence that zakat stimulates the country’s growth. Indeed, as zakat funds are directed to increase consumption, investment or government expenditure, they spur on the economic growth. Moreover, the authors come to the conclusion that more trade openness allows an increase in the real gross domestic product (GDP) per capita. However, the broad money to GDP and population growth rate seem insignificantly associated with the economic growth for the sample considered.

Practical implications

The findings have substantial implications for the economic policy in Muslim countries. Authorities may further rely on zakat to boost the economic growth. First, it is essential to improve the muzakki’s knowledge on zakat to increase their intention, and so their ability and willingness to pay zakat. Second, the government intervention in both zakat collect and distribution becomes mandatory. Therefore, the contribution of zakat to the economic growth will be higher. This requires better-quality services of zakat institutions.

Originality/value

A few studies have empirically looked into the impact of zakat on the economic growth, especially for panel data. Hence, the present study tries to enrich the literature on this topic. It creates significant evidence regarding the relevance of zakat in Muslim countries. The findings provide empirical support that zakat is an additional growth factor in the Islamic framework.

Details

International Journal of Development Issues, vol. 20 no. 1
Type: Research Article
ISSN: 1446-8956

Keywords

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