Search results

1 – 10 of 10
Article
Publication date: 30 November 2023

Mohammad Rifat Rahman, Md. Mufidur Rahman, Athkia Subat and Tanzika Imam Tarin

This study empirically aims to examine the relationship between Bangladesh’s pharmaceutical industry growth and macroeconomic indicators such as the inflation rate, gross domestic…

Abstract

Purpose

This study empirically aims to examine the relationship between Bangladesh’s pharmaceutical industry growth and macroeconomic indicators such as the inflation rate, gross domestic product (GDP) growth, foreign direct investment (FDI) inflows, exchange rate and export growth through the long- and short-run relationship.

Design/methodology/approach

Using the time series data from 1986 to 2020, this study was developed based on the autoregressive distributed lag (ARDL) framework for co-integration. In contrast, the Toda–Yamamoto Granger Causality approach was also used for finding the direction of causality.

Findings

This study used the ARDL bounds test, which found strong co-integration among the variables, indicating a long-term relationship between them. In the long run, inflation, exchange rate and export growth significantly positively influence the pharmaceutical industry’s growth. Surprisingly, an FDI inflow has a negative impact. In the short term, the exchange rate and GDP growth were found to influence the growth of the pharmaceutical industry positively. Bidirectional causality between the growth of the pharmaceutical industry and the exchange rate was also identified using the Granger causality approach.

Research limitations/implications

This paper emphasizes developing the policy as well as making concrete decisions regarding the development of the pharmaceutical industry and economic development in Bangladesh. The results also highlight the necessity for strategic macroeconomic management to support this sector’s long-term development and global competitiveness.

Originality/value

To the best of the authors’ knowledge, this paper is conducted to identify the short- and long-run relationship of pharmaceutical industry development with the economic indicators and progress, where no study has been found on this dimension.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 18 no. 2
Type: Research Article
ISSN: 1750-6123

Keywords

Open Access
Article
Publication date: 11 August 2023

Mohammad Rifat Rahman, Md. Mufidur Rahman and Roksana Akter

This study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research…

2035

Abstract

Purpose

This study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research underscores the significant role of renewable energy plays in stimulating economic growth and mitigating unemployment, offering crucial policy insights for sustainable growth in South Asia.

Design/methodology/approach

Utilizing the autoregressive distributive lag (ARDL) framework and Toda Yamamoto causality through the vector autoregressive (VAR) approach, the study analyzes the long-term and short-term impacts of these variables from 1990 to 2019.

Findings

This study reveals a significant co-integration among renewable energy consumption, unemployment and GDP growth in selected South Asian countries. The long-term estimation shows renewable energy consumption influences negatively economic progression in Bangladesh, with no notable correlation with unemployment. In contrast, Sri Lanka demonstrates an optimal relationship among all the variables. Short-run assessments reveal a significant positive relationship between renewable energy consumption and economic growth in India, while an inverse relationship is evident in Pakistan. Moreover, the relationship between unemployment and economic progression, the result shows a negative and significant relationship in India and Sri Lanka.

Research limitations/implications

The study emphasizes the need for policy development concerning renewable energy development, unemployment reduction and sustainable economic growth in South Asia. While limitations exist, future research can expand upon this work by incorporating varied data, additional countries or alternative modeling techniques.

Originality/value

This research offers a unique exploration into the multidimensional impacts of renewable energy consumption, unemployment and economic growth in the South Asian context, an area previously unexplored in such depth.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

Article
Publication date: 12 October 2020

Jashim Uddin Ahmed, Mohammad Asif Gazi, Rifat Iqbal, Quazi Tafsirul Islam and Niza Talukder

Maternal mortality is an acute problem for many countries around the world, particularly those at the bottom of the pyramid (BoP). Most remote locations in these underdeveloped…

Abstract

Purpose

Maternal mortality is an acute problem for many countries around the world, particularly those at the bottom of the pyramid (BoP). Most remote locations in these underdeveloped nations, for instance, in Africa, have to cope with the problem of interrupted electricity supply making healthcare practitioners often experience a helpless compulsion to compromise in providing quality medical attention, especially during childbirth. Along with many public, private and nongovernment initiatives, WE CARE Solar (hereafter WCS) – a social innovation venture comes with an idea of developing portable solar suitcases to respond to this intransigent problem.

Design/methodology/approach

This paper introduces a social enterprise that established its operation in Africa and so far has served in more than 30 similarly impoverished economies. Data was collected, analyzed using documentary research method. The authors have also collected and correlated the statements from the founder of WCS to complement the authors’ findings. With this paper, the authors intend to establish the type of innovation tools that are needed to provide value with a social innovation initiative in the health sector in the least developed country perspective. To facilitate better social outcomes and to ensure greater good, innovation requires to be accompanied by stakeholders’ involvement.

Findings

The findings indicate that WE CARE Solar has a positive social contribution toward ensuring safe motherhood and childbirth in underdeveloped countries by providing access to reliable solar power sources. The six-step social innovation process can be adopted by other social ventures to propose innovative solutions to social needs. Analyzing WCS's service delivery from the perspective of the 4As framework and value co-creation model, it is suggested that sustainable social change can be established with value co-creation through community engagement with multiple stakeholders.

Research limitations/implications

This research was solely focused on one organization alone. Future research could look into the model to ascertain its acceptability in similar social innovation in healthcare initiatives.

Originality/value

This paper attempts to address a gap in social innovation in healthcare and its adaptability using the 4As framework with the value co-creation model. The authors propose this model from the data accumulated throughout the research, which could also serve to assist organizations looking for scalable and sustainable change.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 16 no. 4
Type: Research Article
ISSN: 2042-5961

Keywords

Article
Publication date: 18 December 2023

Mohammad Ali Ashraf

The purpose of this paper is to evaluate the relationship between bankers’ perspectives and their pro-green banking behaviors (i.e. intentions). Specifically, how do bankers’…

Abstract

Purpose

The purpose of this paper is to evaluate the relationship between bankers’ perspectives and their pro-green banking behaviors (i.e. intentions). Specifically, how do bankers’ perspectives on environmental concerns, environmental normative structure and green technology affect their intentions toward G-banking activities?

Design/methodology/approach

A theoretical framework of the theory of bounded rational planned behavior (TBRPB) as its foundation was established. Using measurement scales to measure different aspects of environmental concern, environmental normative structure, green technology, attitudes, perceived behavioral control and subjective norms, a survey instrument was developed to examine the various associations implied by the model of TBRPB. Data were collected from the bankers of selected commercial banks in Bangladesh following the random sampling procedure. The data were analyzed using the partial least square structural equation modeling technique.

Findings

Findings indicate that all of the predictors appear to be robust in predicting the G-banking intention of the sampled bankers in Bangladesh. The results also show that attitudes, subjective norms and perceived behavioral control have significant mediating effects toward bankers’ bounded rational G-banking intention.

Research limitations/implications

There are a few limitations in the study. First, the study considers environmental concerns as an antecedent of the attitude of bankers toward G-banking activities. Future studies can explore other variables related to environmental problems to study G-banking adoption and practices. Second, this study only considers the private conventional bankers as respondents to the survey to assess G-baking intention. In the future, other types of bankers, such as Islamic bankers and public banks’ bankers could be included in the survey to explore G-banking practices. Finally, this research has been done in a developing country-context.

Practical implications

In this study, environmental concerns of bankers appeared to be highly significant predictors to influence their attitudes toward bounded rational G-banking intention. Similarly, the social normative structure also appears to be a robust antecedent of subjective norms to influence bounded rational G-banking intention of respondent bankers. Finally, green technology or bakers’ personal and skill-related ability to control bounded rational G-banking intention also appeared to be a strongly significant predictor of green banking activities. All this evidence implies that respondent bankers in the sample responded positively to provide their positive intention toward G-banking activities based on their environmental concern.

Social implications

Important social implication of the current study is G-banking practices can help reduce carbon emissions and other pollutants which would enrich overall environmental sustainability and ecological conditions.

Originality/value

Few studies are directed on G-banking perspective in Bangladesh. This research is one of the empirical studies which will certainly add values for the clients, institutions and policymakers in banking paradigm.

Details

Journal of Financial Reporting and Accounting, vol. 22 no. 1
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 16 November 2020

Muhammad Usman and Asmak Ab Rahman

This paper aims to study waqf practice in Pakistan with regard to its utilisation in funding for higher educational institutions (HEIs) and investigates waqf raising, waqf

1061

Abstract

Purpose

This paper aims to study waqf practice in Pakistan with regard to its utilisation in funding for higher educational institutions (HEIs) and investigates waqf raising, waqf management and waqf income utilisation.

Design/methodology/approach

The paper is based on the views of 11 participants who are actively involved in the waqf, its raising, management and income utilisation, and is divided into three subcategories: personnel of higher educational waqf institution, personnel of waqf regulatory bodies and Shari’ah and legal experts as well as archival records, documents and library sources.

Findings

In Pakistan, both public and private awqaf are existing, but the role of private awqaf is greater in higher education funding. However, due to lack of legal supervision private awqaf is considered as a part of the not-for-profit sector and legitimately registered as a society, foundation, trust or a private limited company. Waqf in Pakistan is more focusing on internal financial sources and waqf income. In terms of waqf management, they have firm guidelines for investing in real estate, the Islamic financial sector and various halal businesses. Waqf uses the income for developmental and operational expenditure, and supports academic activities for students and staff. Waqfs are also supporting some other HEIs and research agencies. Thus, it can be revealed that a waqf can cater a sufficient amount for funding higher educational institutions.

Research limitations/implications

In Pakistan, both public and private awqaf are equally serving society in different sectors, but the role of private awqaf is much greater in funding higher education. Nevertheless, the government treats private awqaf as a part of not-for-profit sector in the absence of a specific legal framework and registers such organisations as society, foundation, trust or private limited company. The waqf in Pakistan mostly relies on internal financial resources and income from waqf assets. As the waqf managers have over the time evolved firm guidelines for investment in real estate, Islamic financial sector and various other halal businesses, and utilisation of waqf income on developmental and operational expenditures, academic activities of students and educational staff, other HEIs and research agencies, it can be proved that the waqf can potentially generate sufficient amount for funding HEIs.

Practical implications

The study presents the waqf as a social finance institution and the best alternative fiscal instrument for funding works of public good, including higher education, with the help of three selected waqf cases. Hence, the paper’s findings offer some generalisations, both for the ummah at large and Pakistan.

Social implications

The paper makes several policy recommendations for policymakers, legislators and academicians, especially the government. As an Islamic social finance institution, the waqf can help finance higher education anywhere around the world in view of the fact that most countries grapple with huge fiscal deficits and are hence financially constrained to meet growing needs of HEIs.

Originality/value

The study confirms that the waqf can be an alternative source for funding higher education institutions whether it is managed by the government or is privately controlled.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 21 December 2021

Abu Talib Mohammad Monawer, Noor Naemah Abdul Rahman, Ameen Ahmed Abdullah Qasem Al-‎Nahari, Luqman Haji Abdullah, Abdul Karim Ali and Achour Meguellati

This paper aims to formulate a conceptual framework that will facilitate the actualization of maqāṣid al-Sharīʿah in product design and consumption within Islamic financial…

Abstract

Purpose

This paper aims to formulate a conceptual framework that will facilitate the actualization of maqāṣid al-Sharīʿah in product design and consumption within Islamic financial institutions (IFIs).

Design/methodology/approach

This paper relies on the classical and contemporary literature on maqāṣid al-Sharīʿah and Islamic finance and adopts a qualitative content analysis method and an inductive approach to outline the constituent elements that formulate the framework.

Findings

This study determines six vital constituents of maqāṣid al-Sharīʿah, namely, parameters of maqāṣid, particular objectives, appropriate means, micro provisions, level of need and legal maxims to develop a conceptual framework of actualizing maqāṣid al-Sharīʿah in Islamic finance. The framework covers the following three stages: identification of maqāṣid, operationalization of maqāṣid in product design and consumption based on maqāṣid.

Research limitations/implications

This paper proposes a conceptual framework without investigating the practice of any particular industry or products. Further research would focus on formulating a practical framework based on a focus group discussion with industry experts, elaborating the parameters of maqāṣid, scrutinizing the maqāṣid available in the literature by the parameters of maqāṣid and assessing the IFIs’ products and services using the proposed framework.

Practical implications

This paper provides insights into the importance of maqāṣid elements and the effects of overlooking them on IFIs and customers’ product consumption. Furthermore, a major implication of the proposed framework is to learn how to use the maqāṣid approach as the baseline for designing new financial products.

Originality/value

The novelty of this paper lies in its pioneering attempt of harmonizing all essential maqāṣid elements and using them as constituents to formulate a comprehensive framework that actualizes maqāṣid al-Sharīʿah in the Islamic finance industry.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 15 no. 5
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 9 January 2024

Ubais Parayil Iqbal, Sobhith Mathew Jose and Muhammad Tahir

Commercial banks are the financial powerhouses of a nation that can create a penetrating impact at the grassroots level. This study aims to investigate the demand-side drivers of…

Abstract

Purpose

Commercial banks are the financial powerhouses of a nation that can create a penetrating impact at the grassroots level. This study aims to investigate the demand-side drivers of green banking purchase intention by extending the popular theory of planned behavior (TPB) model.

Design/methodology/approach

This study used a mono-method research approach to collect customers’ cross-sectional responses using structured questionnaires. The data were further analyzed using CB-SEM.

Findings

This study points out that attitude, subjective norms, perceived behavioral control and environmental concern are demand-side factors that drive the intention of individual customers to adopt green banking services. The moderating roles of collectivism, age and gender are also discussed in this study.

Research limitations/implications

The present study’s results suffer from mono-method bias as they are based on primary data analysis alone. This limitation can be addressed by incorporating a mixed-method approach.

Practical implications

Several policy suggestions are offered based on the findings on improving green banking adoption among individual customers. The proper incorporation of these guidelines will expedite a nation’s aspirations for sustainable economic growth.

Originality/value

To the best of the authors’ knowledge, this is the first study to explore the demand-side factors that drive Omani customers’ intention to adopt green banking. Moreover, this study extends the TPB with environmental concern and personal values to examine the green banking adoption by individual customers.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 17 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 22 December 2020

Shinaj Valangattil Shamsudheen and Mohammad Ashraful Ferdous Chowdhury

The purpose of the study is to develop and validate scale to measure the “product knowledge of salesforce in Islamic financial institutions”.

Abstract

Purpose

The purpose of the study is to develop and validate scale to measure the “product knowledge of salesforce in Islamic financial institutions”.

Design/methodology/approach

A total of 371 responses were collected from the salesforce of Islamic financial institutions in the United Arab Emirates. Study adopted both exploratory and confirmatory approach with fundamental principles of Islamic finance. Content validity test and factor analysis are employed to refine measurement items and define as well as validate the scale, respectively.

Findings

Total three dimensions were extracted, i.e. “System”, “Features” and “Contracts” through “exploratory factor analysis” (EFA), and evidence of validation of measurement scale/construct was reported through “confirmatory factor analysis” (CFA).

Research limitations/implications

The span of the study is limited to a single country. Future studies are suggested to employ the newly developed scale/construct in the research frameworks and obtain the overall model fit.

Practical implications

The scope of developed and validated measurement scale is broad and can be applied in any kind of Islamic financial institutions in which the study requires capturing product knowledge of salesforce with special reference to peculiar characteristics of Islamic financial institutions.

Originality/value

While there is ample literature addressing the issues of competence and need for capacity building among Islamic banking practitioners in general, little has been explored with special reference to the salesforce, their degree of knowledge about the product they offer to the customers and a scale to measure their knowledge that envelopes the specific features of Islamic finance. These gaps serve as justification for undertaking this study.

Details

Journal of Islamic Marketing, vol. 13 no. 5
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 11 October 2018

Malihe Siyavooshi, Abdullah Foroozanfar and Yaser Sharifi

This study aims to conduct an experimental investigation into the effectiveness of using Islamic values and environmental knowledge in advertising for plant disposable containers…

1071

Abstract

Purpose

This study aims to conduct an experimental investigation into the effectiveness of using Islamic values and environmental knowledge in advertising for plant disposable containers on the level of willingness to purchase such products for religious ceremonies and rituals among Muslim consumers in Iran.

Design/methodology/approach

A sample of 270 individuals participating in one of the religious assemblies in the city of Shiraz in Iran was classified into three groups (a control and two experimental groups). A pretest was administered for each group; then both experimental groups received brochures whose contents were associated with environmental and religious messages about environmental protection. After four days, a post-test was similarly conducted for each group. The data were collected through a questionnaire and analyzed using one-way analysis of variance.

Findings

The results revealed that the use of religious and environmental messages in advertising for plant disposable containers could boost the willingness to purchase such containers for religious ceremonies and rituals; however, the effectiveness of using religious messages was stronger compared to that of the environmental ones.

Research limitations implications

Given that the present study was conducted based on an experimental research design in a real context, there was the possibility of the presence of other variables outside the control of the study design and affecting its results.

Practical implications

Increased awareness regarding the harmful environmental impacts of plastic containers and emphasis on religious duties to protect the environment can affect targeting a sector of the Muslim community endowed with strong religious beliefs.

Originality/value

This study confirmed that consumer values and beliefs could have effects on their purchase and consumption behaviors.

Details

Journal of Islamic Marketing, vol. 10 no. 1
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 6 July 2023

Hawwa Abdul Mokti, Nor Azzah Kamri and Mohd Abd Wahab Fatoni Mohd Balwi

The purpose of this study is to examine and review tayyiban indicators in the context of halal food production. In Islam, food produced or manufactured must be halal and tayyiban

Abstract

Purpose

The purpose of this study is to examine and review tayyiban indicators in the context of halal food production. In Islam, food produced or manufactured must be halal and tayyiban. Even though both halal and tayyiban are always mentioned together in the Quran, the halal aspect is highlighted more than tayyiban. The discussion of tayyiban’s indicators is still vague.

Design/methodology/approach

The study was adopted based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses for the review of the current research which used two main journal databases, namely, Web of Science and Scopus. Accordingly, the search resulted in a total of 40 articles that can be systematically examined.

Findings

The results of review of these articles formulated five main themes: safety, nutrition, cleanliness, quality and authenticity. These five indicators are considered relevant enough in the context of halal food production to build a comprehensive tayyiban concept.

Originality/value

This study enriches the field of halal food research. The concept of tayyiban as a whole has been given limited attention in academic literature. At the end of this study, a number of recommendations are suggested for the reference of future scholars.

Details

Journal of Islamic Marketing, vol. 15 no. 2
Type: Research Article
ISSN: 1759-0833

Keywords

1 – 10 of 10