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1 – 10 of 61Khemaies Bougatef, Mohamed Sahbi Nakhli and Othman Mnari
The purpose of this paper is to investigate the relationship between Islamic banking and industrial production by decomposing Islamic financing (IF) into profit and loss sharing…
Abstract
Purpose
The purpose of this paper is to investigate the relationship between Islamic banking and industrial production by decomposing Islamic financing (IF) into profit and loss sharing (PLS) and non-profit and loss sharing (non-PLS) modes of financing.
Design/methodology/approach
This paper applies the autoregressive distributed lag (ARDL) approach and Toda and Yamamoto causality test on the monthly data set for Malaysia from 2010M1 to 2018M6.
Findings
The results reveal that IF plays an important role in boosting industrial production in the short run, as well as in the long run. Moreover, this positive effect mainly comes from non-PLS financing. In contrast, no significant relationship was found between PLS financing and industrial development neither in the short run nor in the long run.
Practical implications
The results have several policy implications. The existence of a time lag between the pooling of funds through PLS contracts and their channeling to industrial activities imply that Malaysian Islamic banks should maintain a long-term relationship with investment account holders. In addition, Islamic banks are called to increase the portion of PLS financing. The positive relationship between the industrial production index and IF (through non-PLS techniques) in the short and the long runs implies that policymakers in Malaysia should multiply their efforts to further expand the Islamic banking industry.
Originality/value
The originality of this study lies in decomposing Islamic banks’ financing into PLS financing (muḍārabah and mushārakah) and non-PLS financing to assess the contribution of each mode of financing in industrial development.
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The purpose of this paper is to draw a map of the general features of epistemological and critical concerns in contemporary Islamic philosophy. This study will not be confined to…
Abstract
Purpose
The purpose of this paper is to draw a map of the general features of epistemological and critical concerns in contemporary Islamic philosophy. This study will not be confined to the domain of academic philosophy or to those who are professionals in the field of philosophy.
Design/methodology/approach
The paper adopted the critical rational approach in dealing with contemporary Islamic philosophy in the Arab world. The scope will include scholars from different fields of epistemology who tried to present a “vision” of the attitude that should be adopted in facing the challenges of the age and the problems of the nation on the epistemological level or the political, economic and social levels.
Findings
There is a need for a philosophy of action and progress rather than a philosophy that is based on abstract ideas and theories and of words/rhetoric. The ethics required to accomplish this ought to identify the attributes of the citizen who can reach self-actualization through legitimate means based on a progress agenda with theoretical and philosophical foundations.
Research limitations/implications
Because a critical rational approach can be dealt with from different perspectives, this paper will adopt the classification of the principal intellectual trends: the reformist, secular and liberal.
Practical implications
This paper covers a long time span to determine whether the philosophical projects have been effective.
Originality/value
This paper, which criticizes the philosophic projects that are theoretically unsound and that do not address real social problems (like poverty), argues the need for a philosophy of progress and action. This will lead to devising an agenda that addresses the challenges the society is facing and to finding alternative and creative solutions resulting in development.
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Andrew Ebekozien, Clinton Ohis Aigbavboa and Mantoa Ramotshela
Stakeholder engagement in construction projects is an ingredient that contributes to project optimal performance. Many developing countries have a paucity of literature about…
Abstract
Purpose
Stakeholder engagement in construction projects is an ingredient that contributes to project optimal performance. Many developing countries have a paucity of literature about stakeholders' engagement in construction projects. Therefore, the study investigated South Africa's shareholders' engagement in construction projects and recommended possible measures to mitigate potential limitations.
Design/methodology/approach
The researchers collated data from South African experts in stakeholder engagement via a phenomenology type of qualitative research design. They explored the “perceived hindrances” facing stakeholders' engagement in construction projects and proffer measures to mitigate them. The study analysed collected data via thematic analysis and achieved saturation. Three themes emerged from the analysed data.
Findings
Findings show that efficient stakeholder engagement will enhance team collaboration and integrated construction project delivery. Results identified the perceived limitations facing stakeholders' engagement in South Africa's construction projects and categorised them into individual perceived hindrances, organisational perceived hindrances and government-related perceived hindrances. Also, findings proffer measures to mitigate perceived hindrances via policies and programmes within the sector.
Practical implications
Besides enhancing policymakers and other stakeholders in South Africa's construction industry to understand the benefits of stakeholder engagement better, the study may stir up the construction sector's stakeholders to embrace enhanced and effective stakeholders' management.
Originality/value
This study contributes to construction project practice that involves stakeholders, as it reveals the underlying causes of perceived hindrances facing stakeholders' engagement in construction projects. Also, it proffers feasible solutions to mitigate these hindrances and enhance stakeholders' engagement within South Africa's construction projects.
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This article examines the experiences of women leaders and their challenges in Brunei Darussalam. Globally, women are underrepresented in leadership positions. Though the Brunei…
Abstract
This article examines the experiences of women leaders and their challenges in Brunei Darussalam. Globally, women are underrepresented in leadership positions. Though the Brunei government does not discriminate against any gender in delivering free education, medical facilities and healthcare, women in leadership positions are as well underrepresented. I try to understand the factors that challenge as well as motivate women to become leaders in Brunei. For this research, I conducted qualitative interviews with some respondents selected purposively. The study results show that women leaders in Brunei face challenges in obtaining financial support and accessing resources. Despite the challenges, there are some women who have been assuming and excelling in their leadership roles. The study identified that personal strengths have also been critical in contributing to their successful leadership.
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Adel Mohammed Ghanem, Khaled Nahar Alrwis, Othman S. Alnashwan, Mohamad A. Alnafissa, Said Azali Ahamada and Ibrahim bin Othman Al-Nashwan
This research aimed to maximize the value of date exports for the Kingdom of Saudi Arabia.
Abstract
Purpose
This research aimed to maximize the value of date exports for the Kingdom of Saudi Arabia.
Design/methodology/approach
To achieve its objective, this study relied on secondary data and quantitative economic analysis represented by the Linear programming model.
Findings
This study showed that Saudi Arabia exports dates to the United Arab Emirates, Yemen, Kuwait, Turkey, Somalia, Jordan, Oman, India, Indonesia, Bangladesh Morocco, Lebanon, and others. The geographical concentration coefficient for the quantity and value of date exports was 35.05% and 34.74%, respectively, during the study period. Saudi Arabia exported a quantity of dates amounting to 83.08 thousand tons, representing 40.57% of the average total amount of Saudi dates exports during the study period, to Yemen, Somalia, India, Indonesia, Bangladesh, Egypt, China, Djibouti, Bahrain, and Ethiopia, at prices lower than the average export price of 1200.31 dollars/ton, and therefore the export policy needs to restructure the geographical distribution of date exports. Based on the models of geographical distribution, Saudi date exports value can be increased by 32.76–127.12 million dollars, meaning can be increased by 13.77% – 53.44%. In light of the results of the proposed models, this study recommends the need to restructure the geographical distribution of Saudi date exports so that the value of Saudi date exports can be increased by 127.12 million dollars from the current situation for the period 2017–2021.
Originality/value
The paper’s original contribution lies in its proposal to restructure the geographical distribution of Saudi date exports to increase the value of exports.
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Zaleha Othman, Mohd Fareez Fahmy Nordin and Muhammad Sadiq
This study provides in-depth explanation of Goods and Services Tax (GST) fraud prevention towards sustainability business.
Abstract
Purpose
This study provides in-depth explanation of Goods and Services Tax (GST) fraud prevention towards sustainability business.
Design/methodology/approach
This study applies a qualitative research method, i.e. case study, to address the specific research objective.
Findings
The finding revealed a GST prevention model towards sustainable business. The finding shows that it is pertinent for the government to set preventive strategies in order to retain sustainable income for the government. Two essential dimensions emerged in the findings to support preventive strategies, namely macro- and micro-level measures.
Practical implications
The findings of this study provide managers, investors and policymakers with evidence to what extent GST fraud could be minimize in order to safeguard government source of revenue and retain sustainable business in a country. As GST is an important source of revenue for the government, it is thus crucial to prevent fraud from occurring.
Originality/value
Past studies have primarily focused on GST implementation from the perspective of service tax effectiveness and efficiency. However, this study examined the impact of GST fraud to determine measures that could ensure service tax sustainability using preventive strategies, in turn, introducing to the existing literature on indirect tax.
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Jagan Jeevan, Raden Aswin Rahadi, Monizaihasra Mohamed, Nurul Haqimin Mohd Salleh, Mohamad Rosni Othman and Siti Marsila Mhd Ruslan
This paper aims to explore the comparative analysis of marketing strategies between seaports and dry ports. Second, this paper proposes a recommendation to improve marketing…
Abstract
Purpose
This paper aims to explore the comparative analysis of marketing strategies between seaports and dry ports. Second, this paper proposes a recommendation to improve marketing approaches in both nodes.
Design/methodology/approach
This research analyzes current marketing approaches to improve the freight volume and enhance interrelation between them for a comprehensive collaboration in the freight supply chain. This research employed semi-structured interviews via an e-interview questionnaire.
Findings
The result shows that dry port and seaport practice a mixed marketing strategy. Some marketing elements that a seaport applies are also applied by a dry port, like focusing on the target customer, joining exhibitions and face-to-face meetings. Customized service to clients, frequent discussion on the effective marketing plans and increasing the facilities at the seaport and dry ports can improve the marketing strategies in dry port and seaports.
Originality/value
Seaports are the critical components in esteem-driven context, which add to supply chains by creating value-added services in the transport chain. Nonetheless, research between dry ports and seaports has increasingly drawn the attention of scholars during the last decade. Having said like that, there have not been any pragmatic studies undertaken in the Malaysian context that mainly discusses the marketing prospect of the dry ports and seaports especially during COVID-19 outbreak.
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Ahmad Alrazni Alshammari, Othman Altwijry and Andul-Hamid Abdul-Wahab
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Originality/value
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.
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This paper focuses on Ṣukūk issuance determinants in Gulf Cooperation Council (GCC) countries. Given the dual characteristic of debt and equity of Ṣukūk as well as their unique…
Abstract
Purpose
This paper focuses on Ṣukūk issuance determinants in Gulf Cooperation Council (GCC) countries. Given the dual characteristic of debt and equity of Ṣukūk as well as their unique benefits of social responsibility, the author questions whether the theories of capital structure, the trade-off and the pecking order are able to well explain the Ṣukūk issuance.
Design/methodology/approach
First, the author verifies these theories using capital structure determinants and regresses the Ṣukūk change on these determinants. Second, the author tests the trade-off theory with the target debt model and third, verifies the pecking order theory using the fund flow deficit model.
Findings
The empirical results show that capital structure determinants fail to explain both theories. The author confirms that the Ṣukūk change is significatively linked to the deviation from a Ṣukūk target. So, issuing firms balance the marginal costs of Ṣukūk and their benefits of religiosity and social responsibility toward a target debt. The author finds no evidence of the pecking order theory.
Research limitations/implications
This study contributes to corporate finance theory and corporate social responsibility. It verifies if capital structure theories proved in conventional financing can well explain Islamic bonds issuance given their social responsibility benefits.
Practical implications
Managers and investors would pay attention to the social factors explaining Ṣukūk issuance in their finance and investment decisions. They would be enhanced to use this financing tool knowing its social unique benefits. This also should encourage governments to enhance this socially responsible financing. Rating agencies would be motivated to evaluate Ṣukūk and firms would improve the quality and relevance of disclosure to get the best rating.
Social implications
The author highlights the social factors explaining Ṣukūk issuance and enhances corporate social responsibility (CSR).
Originality/value
The author extends the few literature testing capital structure theories for Islamic bonds and highlights the specific social responsible features of Ṣukūk that would bridge their issuance to capital structure theories. So the author enhances the concept of Islamic CSR. Tying capital structure theories to CSR would also help developing Islamic finance theory as a unique social responsible framework.
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