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Article
Publication date: 22 May 2020

Hassanudin Mohd Thas Thaker, Ahmad Khaliq, Mohamed Asmy Bin Mohd Thas Thaker, Anwar Bin Allah Pitchay and K. Chandra Sakaran

The purpose of this paper is to examine the factor persuading the acceptance of Islamic pawn broking (Ar-Rahnu) among Islamic bank customers.

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Abstract

Purpose

The purpose of this paper is to examine the factor persuading the acceptance of Islamic pawn broking (Ar-Rahnu) among Islamic bank customers.

Design/methodology/approach

The authors collected the data using a self-administered questionnaire design and analysed using SPSS Statistics and smart partial least square. The study is restricted to only respondents who are based in the area of Klang Valley (Selangor and Kuala Lumpur), as these two areas have a larger number of Islamic banks and a decent number of Islamic banks’ clients. A total of 381 respondents’ responses are used for this study, and the constructs involved for analysis purpose are affect, social factor, facilitating conditions, perceived financial benefits and perceived risk constructs.

Findings

The finding suggests a significant positive association for social factor and perceived risk, while negative association learnt for affect on acceptance of Ar-Rahnu financing. On the same note, the facilitating condition and perceived financial benefit are found insignificantly related.

Practical implications

The findings generated from this study are expected to enrich the literature on the body of knowledge, as it has served to broaden the understanding of the Ar-Rahnu acceptance level in Malaysia. As mentioned, there is limited literature available using this type of financing. Existing studies focus too much on conventional financing products such as personal financing, credit card, short-term loan and many others. Less attention is given to Ar-Rahnu financing. Thus, this study expected to add value to the literature available in the context of Islamic pawn broking business. Moreover, the findings of this study will be very helpful for the Islamic financial institutions to find the best way to retain Ar-Rahnu clients and encourage more client to choose Ar-Rahnu as a mode of financing.

Originality/value

This study owns greater potential to assist Islamic financial institutions to discover the best techniques to retain and encourage the grander number of clients for Ar-Rahnu as a mode of financing.

Details

Journal of Islamic Marketing, vol. 12 no. 7
Type: Research Article
ISSN: 1759-0833

Keywords

Open Access
Article
Publication date: 19 June 2018

Mohamed Asmy Bin Mohd Thas Thaker

This paper aims to explore the opinions and recommendations of various experts on the integrated cash waqf micro enterprise investment (ICWME-I) model, particularly in terms of…

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Abstract

Purpose

This paper aims to explore the opinions and recommendations of various experts on the integrated cash waqf micro enterprise investment (ICWME-I) model, particularly in terms of its suitability, applicability and prospects in the market.

Design/methodology/approach

The research involves primary data which are collected from semi-structured interviews conducted with experts from various backgrounds. Thematic analysis was used to examine the data.

Findings

The experts support the suitability of the ICWME-I model in providing financial services to micro enterprises. They highlight the importance of establishing, managing and operating ICWME-I model under the aegis of the State Islamic Religious Council in Malaysia or the corporate sector. They further emphasize that the characteristics of micro enterprises, the element of sustainable funding, the importance of proper management and administration, legal matters and public awareness are key factors that influence the sustainability of the ICWME-I model.

Originality/value

This paper adds to the literature on waqf and micro enterprises especially from the Malaysian context. The paper validates the ICWME-I model in terms of its suitability, applicability and prospects in the market by interviewing experts from various backgrounds.

Details

ISRA International Journal of Islamic Finance, vol. 10 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 11 June 2018

Mohamed Asmy Bin Mohd Thas Thaker, Hassanudin Bin Mohd Thas Thaker and Anwar Bin Allah Pitchay

This paper aims to examine the role of religion in influencing the public relations activity of Islamic banking institutions in Malaysia by adopting circuit of culture (COC) model…

Abstract

Purpose

This paper aims to examine the role of religion in influencing the public relations activity of Islamic banking institutions in Malaysia by adopting circuit of culture (COC) model as theoretical framework.

Design/methodology/approach

A narrative analysis is used in this study. This analysis has basically involved the application of symbolic interactionist tenets to respective websites and relevant documents of Islamic banks in Malaysia.

Findings

The paper has identified six Islamic value orientations elements, especially respect for religious authority, affinity with the past, fatalism, communal kinship, attachment to the eternal life and spirituality and idealism relative to public relations practice among the Islamic banks in Malaysia. The study finds that the respective banks are embedded with Islamic values in their communication tools that reflect public relations activity.

Research limitations/implications

The theme of value orientations that have been generated and used in this study are constantly in flux. There are some other orientations that might be affecting the cultural value of public relations activities of Islamic banking in Malaysia. Furthermore, these value orientations are less effective in identifying dominating cultural factors that can be amended with situational flexibility, as the current study focuses on Malaysian context. Future research is required by incorporating a quantitative means of testing and measuring the effectiveness of website by using cultural-economic model for building.

Practical implications

The study suggests that public relations researchers should not ignore the vital relationship between religion and public relations activity. The findings of this paper provide Islamic banking institutions to improve and enhance their public relations activity.

Originality/value

This paper offers an additional literature related to public relations activity by using cultural-economic model. While previous studies have focused on product, brand matters and organization behavior to define cultural and public relation, very little research has been focused on the role of religion in determining public relations activity and cultural pattern. Indeed, no study has been focused explicitly on public relations activity of Islamic banks in Malaysia using COC.

Details

Journal of Islamic Marketing, vol. 9 no. 2
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 5 June 2019

Anwar Bin Allah Pitchay, Mohamed Asmy Bin Mohd Thas Thaker, Zubir Azhar, Al Amin Mydin and Hassanudin Bin Mohd Thas Thaker

The sustainable development of Islamic banking services has motivated a significant number of depositors to choose Islamic bank services instead of the conventional bank. There…

Abstract

Purpose

The sustainable development of Islamic banking services has motivated a significant number of depositors to choose Islamic bank services instead of the conventional bank. There are various factors that can persuade the depositors’ choice to choose an Islamic bank. This paper aims to examine the factors that persuade individuals’ behavioral intention to choose Islamic bank services.

Design/methodology/approach

To achieve this objective, this study uses the theory of planned behavior (TPB) as the underlying theory to measure the factors that persuade the depositors’ behavioral intention to choose Islamic bank services. A total of 300 questionnaires were distributed to the Malaysian Islamic Bank’s depositors in Peninsular Malaysia. The data from the questionnaires were analyzed using structural equation modeling (SEM).

Findings

The result showed the three variables that predicted behavioral intentions of the depositors, namely, attitude (ATT), subjective norms (SN) and perceived behavioral control (PBC), were found to be significant in persuading depositors’ behavioral intention to choose Islamic bank services. Furthermore, the findings of the study also confirmed the relevance of using TPB to measure the depositors’ behavioral intention. The results could advance knowledge in the area of Islamic finance and also have positive implications for practitioners.

Originality/value

The study offers an insight into the present environment involving Islamic banking services which was established in Malaysia 30 years ago. In the context of the current study, the present environment refers to the depositors’ intention to opt for the service and the factors that influence the depositors to choose Islamic banking services apart from the religious factor which has been well acknowledged by a significant number of previous studies.

Details

Journal of Islamic Marketing, vol. 11 no. 1
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 28 November 2018

Mohamed Asmy Bin Mohd Thas Thaker, Md Fouad Bin Amin, Hassanudin Bin Mohd Thas Thaker and Anwar Bin Allah Pitchay

This study aims to find important factors of Malaysian Islamic banking customers’ loyalty or continuance intention to use Islamic mobile banking services.

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Abstract

Purpose

This study aims to find important factors of Malaysian Islamic banking customers’ loyalty or continuance intention to use Islamic mobile banking services.

Design/methodology/approach

The primary data are collected from the survey administered to 250 customers in the Klang Valley and the analysis is conducted using partial least squares (PLS).

Findings

Based on the findings, continuance intention of using Islamic mobile banking services was found to be depended on the usability of mobile banking services, customer service provided by Islamic banks towards mobile banking services, customer satisfaction on mobile banking services and trust of customers towards mobile banking services. In addition, the mediating effect of Islamic mobile banking services continuance adoption is significantly influenced by customer satisfaction and trust.

Research limitations/implications

The sample size and area of study become the obvious limitations, and interpretation of the results and conclusion cannot be as generalised. In addition, as the respondents of this study are existing customers who have used Islamic mobile banking services at least once, relying on the perception of one key informant might imply cognitive biases. Besides, the use of current factors might limit the ability to explore other potentially important determinants of the customers’ continuance intention in using Islamic mobile banking services.

Practical implications

By understanding these continuance intention factors amongst the customers, it would help the industry player particularly Islamic banking to plan and strategise appropriate policies and support necessary programmes on diversifying and promoting financial transaction using mobile banking services amongst their existing and potential customers.

Originality/value

This paper offers an additional literature on Islamic mobile banking, especially from the Malaysian context. There is a lack of study that focuses on loyalty towards Islamic mobile banking services. The paper is considered to be the first attempt to examine the factors that influence Malaysian Islamic banking customers’ loyalty or continuance intention to use Islamic mobile banking services.

Details

Journal of Islamic Marketing, vol. 10 no. 2
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 8 May 2019

Mohamed Asmy Bin Mohd Thas Thaker, Anwar Bin Allah Pitchay, Hassanudin Bin Mohd Thas Thaker and Md Fouad Bin Amin

This paper aims to test the factors that can influence the adoption of Islamic mobile banking services among the current users in Malaysia.

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Abstract

Purpose

This paper aims to test the factors that can influence the adoption of Islamic mobile banking services among the current users in Malaysia.

Design/methodology/approach

A sample of 250 current users of Islamic mobile banking services provided opinions about their intention to adopt Islamic mobile banking services. Later, the data are analysed using partial least squares approach.

Findings

Perceived usefulness and risk are the factors that influence the intention to adopt Islamic mobile banking services among the existing users.

Research limitations/implications

There are some limitations of the current study. The sample size and area of study becomes the obvious limitations. Thus, there is a need for caution in the interpretation of the results and the conclusion cannot be as generalised. Besides, the use of current factors might limit the ability to explore other potentially important determinants of the users. Thus, future research can be conducted by incorporating new factors and provide new insights for Islamic mobile banking services. In addition, the sample is biased towards people who are currently using mobile banking services.

Practical implications

By understanding these factors among the customers, it would help the industry player, particularly Islamic financial institutions to plan and strategise appropriate policies and support necessary programme on diversifying and promoting financial transaction using mobile banking services among their existing and potential customers.

Originality/value

This paper offers an additional literature on Islamic mobile banking, especially from the Malaysian context. There is a lack of study that focusses on Islamic mobile banking services. The paper is considered to be the first attempt to examine factors that influence Malaysian Islamic banking customers to adopt Islamic mobile banking services, which is not often considered in previous studies.

Details

Journal of Islamic Marketing, vol. 10 no. 4
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 6 February 2020

Hassanudin Mohd Thas Thaker, Ahmad Khaliq, Abdollah Ah Mand, Hafezali Iqbal Hussain, Mohamed Asmy Bin Mohd Thas Thaker and Anwar Bin Allah Pitchay

This paper aims to attempt to investigate and test the factors related to social media advertisement that could forecast the intention to subscribe to Islamic banking products in…

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Abstract

Purpose

This paper aims to attempt to investigate and test the factors related to social media advertisement that could forecast the intention to subscribe to Islamic banking products in Malaysia.

Design/methodology/approach

The research framework used in this study is guided by the Unified Theory of Acceptance and Use of Technology (UTAUT). The questionnaire method was used to collect data from 360 social media users and partial least square (PLS) analysis was carried out for the model’s validation.

Findings

The analytical results showed that perceived relevance, informativeness and perceived expectancy were found to have a statistical relationship with the purchase intention of Islamic banking products via a social media platform.

Practical implications

The study offers a practical implication in which the findings prove as helpful means for Islamic financial institutions to discover paramount techniques to retain existing customers and at the same time encourage potential new customers to subscribe to their products.

Originality/value

Deficiency of research focusing on social media marketing, especially the incorporation of the UTAUT model was observed in the literature. Thus, this paper offers additional literature on social media marketing and elucidates their role in Islamic banking industry, particularly from the Malaysian context. This research is considered to be among the primary attempts to examine the drivers of social media marketing and customers’ intention to subscribe to Islamic banking products in Malaysia.

Details

Journal of Islamic Marketing, vol. 12 no. 1
Type: Research Article
ISSN: 1759-0833

Keywords

Open Access
Article
Publication date: 12 October 2018

Anwar Allah Pitchay, Mohamed Asmy Mohd Thas Thaker, Al Amin Mydin, Zubir Azhar and Abdul Rais Abdul Latiff

Waqf (Islamic endowment) in the form of cash is important to address the problem of developing idle waqf lands. Although there are various existing models of cash waqf, there is…

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Abstract

Purpose

Waqf (Islamic endowment) in the form of cash is important to address the problem of developing idle waqf lands. Although there are various existing models of cash waqf, there is still a need for innovative cash waqf models. This paper aims to offer an alternative mode of financing for developing idle waqf lands using the concepts of cooperatives and waqf.

Design/methodology/approach

The present study first evaluates relevant literature on financing issues faced by waqf institutions in developing idle waqf lands as well as existing models of cash waqf. Based on the prevailing gap in cash waqf models, the study proposes a hybrid model of cooperative-waqf to finance idle waqf lands in Malaysia.

Findings

The proposed model is unique owing to the new dimension of membership being embedded into the waqf project. It considers donors as members of the waqf project, which is funded through the cash waqf collected, and thus, donors are given the privilege to receive benefits from the commercialised projects that are developed on the waqf lands. The existing models of cash waqf use traditional methods in which donors merely contribute cash waqf without any awareness of how the contributions are utilised. Usually, this problem occurs due to the lack of reciprocal communication between cash waqf donors and waqf institutions.

Research limitations/implications

The present study examines the case of waqf land development in the context of Malaysia only. Secondly, the paper does not contain any empirical analysis, and the development of the paper is based on existing literature that discusses various models of cash waqf practised in Muslim-majority and -minority countries. Future research can conduct surveys of donors and other stakeholders on the practicality of the model.

Practical implications

It is expected that the proposed cooperative-waqf model will be able to create a synchronised relationship between cash waqf donors and waqf institutions and hence boost participation in developing waqf lands.

Originality/value

The present study adds to the existing literature in the area of waqf and cash waqf models, especially the application of this instrument in the context of Malaysia. It also offers a new hybrid model to the State Islamic Religious Councils (SIRCs) – Malaysia’s sole trustee of waqf assets management – such that the implementation of the proposed model could boost the collection of cash waqf in developing commercial projects on idle waqf lands.

Details

ISRA International Journal of Islamic Finance, vol. 10 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 14 December 2021

Meri Indri Hapsari, Mohamed Asmy Bin Mohd Thas Thaker, Mustafa Omar Mohammed and Jarita Duasa

This paper aims to inquire about the opinions and recommendations of various experts on the crowdfunding waqf model (CWM), particularly in terms of its suitability, applicability…

Abstract

Purpose

This paper aims to inquire about the opinions and recommendations of various experts on the crowdfunding waqf model (CWM), particularly in terms of its suitability, applicability and prospect in the market.

Design/methodology/approach

This paper used primary data which are collected from semi-structured interviews conducted with several experts from various backgrounds. For examining the data, this paper has used thematic analysis.

Findings

The experts support the suitability of CWM in providing financing resource to develop waqf lands. They highlight the importance of establishing, managing and operating CWM under the aegis of the State Islamic Religious Council in Malaysia and supervising by the Wakaf, Zakat or Hajj Department (JAWHAR). They further point out that the donors or crowdfunders, interesting project, promotion and regulation are key factors that influence the sustainability of CWM.

Originality/value

This paper adds to the literature on waqf land and crowdfunding, especially from the Malaysian context. This paper validates the CWM in terms of its suitability, applicability and prospect in the market by interviewing experts from various backgrounds.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 3
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 2 March 2022

Meri Indri Hapsari, Mohamed Asmy Bin Mohd Thas Thaker, Mustafa Omar Mohammed and Jarita Duasa

This paper investigates the probability that people (prospective donors) would be willing to use the crowdfunding-Waqf model (CWM), depending on certain variables and…

Abstract

Purpose

This paper investigates the probability that people (prospective donors) would be willing to use the crowdfunding-Waqf model (CWM), depending on certain variables and characteristics. This study aims to develop an alternative financial model to address Malaysia’s Waqf land financing problem.

Design/methodology/approach

A survey study was conducted to assess the probability that people would be willing to use the CWM. This study used descriptive analysis and the logistic regression model as analytical tools. Descriptive analysis was conducted using frequencies, which means the number of respondents for each variable or item, such as demographic variables. The logistic regression model was used to obtain the probability that individuals would be willing to use the CWM, based on certain variables.

Findings

This study found that perceived usefulness, perceived ease of use, gender and Waqf knowledge positively affected the likelihood that people would willingly use the CWM for developing Waqf land. In contrast, other factors such as age group, marital status, income level, internet usage, perceived risk of crowdfunding and Waqf perception did not affect this likelihood. Further investigation indicated that being of middle-income level and possessing crowdfunding knowledge positively affected the likelihood that people were willing to use the CWM. The highest probability of the willingness to use the CWM was identified among middle-income males who knew about Waqf and perceived the CWM as useful and easy to use.

Research limitations/implications

The results of this study and other key findings are expected to be implemented by Waqf institutions in Malaysia to develop policies related to Waqf land in general or to the CWM in particular. The findings are also expected to benefit individuals, organisations and countries, and they could also be adapted and validated in other nations.

Originality/value

This study focused on developing a better chance of finding people with specific characteristics and factors that lead them to intentionally use the CWM. The probability of willingness to use the CWM based on certain variables has not yet been evaluated. Recognising how higher probabilities can be identified using every factor and characteristic will enable future CWM users to be better mapped, which is expected to increase the effectiveness of developing the CWM.

Details

International Journal of Ethics and Systems, vol. 38 no. 4
Type: Research Article
ISSN: 2514-9369

Keywords

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