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Article
Publication date: 1 December 2004

Shattri Mansor, Mohammed Abu Shariah, Lawal Billa, Iwan Setiawan and Faisal Jabar

This study integrates high spatial resolution remote sensor data with geographic information system (GIS) data and multi‐criteria analysis to develop a methodology to…

4176

Abstract

This study integrates high spatial resolution remote sensor data with geographic information system (GIS) data and multi‐criteria analysis to develop a methodology to model disaster risk for flood risk management and in peat swamp forest fires in order to assist in providing decision support systems for emergency operations and disaster prevention. Landslides are the result of a wide variety of processes, including geological, geomorphological and meteorological factors. Spatial technology has the ability to assess and estimate regions of landslide hazard by creating thematic maps and overlapping them to produce a final hazard map which classifies regions according to three categories of risk.

Details

Disaster Prevention and Management: An International Journal, vol. 13 no. 5
Type: Research Article
ISSN: 0965-3562

Keywords

Article
Publication date: 10 February 2022

Hanudin Amin

This study aims to investigate mustahiq business success using a newly developed index called asnaf muslimpreneur success index (AMSi).

Abstract

Purpose

This study aims to investigate mustahiq business success using a newly developed index called asnaf muslimpreneur success index (AMSi).

Design/methodology/approach

Following Abu Zaharah theory of al-Maqasid al-Shariah, the authors developed the AMSi through literature analyses and expert judges involving three Shariah scholars for improved extensions and applications. Subsequently, the authors conducted the actual survey, which included 17 mustahiq who had been assisted by the zakat institution in running their small and halal businesses in Sabah, Malaysia.

Findings

Using the AMSi, the success of asnaf businesses was in the moderate index, implying the success meets the index score of more than 50%. All indexes capturing asnafs’ business experience, asnafs’ business justice, asnafs’ well-being and asnafs’ financial wisdom were greater than the threshold value of 0.5 or 50%, implying that the interaction of the battery items involved in those variables resulted in satisfactory results, indicating that they are relevant and essential in gauging the asnafs’ success level in the development business programme.

Research limitations/implications

The results obtained were at the exploratory level, and for that, more studies related are expected to be conducted in the future, where the coverage of the respondents used is larger to extend the findings, at least.

Practical implications

The results obtained can become a yardstick to gauge the success of asnaf muslimpreneurs in Sabah, East Malaysia.

Originality/value

This study introduces new measures of asnaf muslimpreneur success model, where mustahiq business is brought into play.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 8 May 2017

Ali Ali Gobaili Saged, Thabet Ahmad Abu Alhaj and Mohd Yakub Zulkifli Bi

This paper aims to attempt to present a number of higher purposes of Islamic law that include within their scope the preservation and protection of the natural…

488

Abstract

Purpose

This paper aims to attempt to present a number of higher purposes of Islamic law that include within their scope the preservation and protection of the natural environment. Such preservation is in the best interest of mankind.

Design/methodology/approach

The researchers have extrapolated evidence from the Qur’an and authentic traditions of the Prophet (PBUH) that afford a sense of certainty that Islamic laws contain operative or effective causes (illa) seeking the welfare of human beings and society.

Findings

The Qur’an and Sunnah have placed great importance on the preservation and protection of the environment. They have extolled the merits of treating the environment with care and compassion. Evidence of this can be found in authentic hadiths beginning with the Book of Purity and is found in many of the teachings concerning worship rituals and civic activities.

Originality/value

The researchers have attempted to present a number of higher purposes of Islamic law that include within their scope the preservation and protection of the natural environment. Such preservation is in the best interest of mankind. For this, the researchers have extrapolated evidence from the Qur’an and authentic traditions of the Prophet (PBUH) that afford a sense of certainty that Islamic laws contain operative or effective causes (illa) seeking the welfare of human beings and society.

Details

Humanomics, vol. 33 no. 2
Type: Research Article
ISSN: 0828-8666

Keywords

Article
Publication date: 5 March 2018

Azam Abdelhakeem Khalid, Hasnah Haron and Tajul Ariffin Masron

The purpose of this paper is to propose the conceptual relationship between competency and effectiveness of internal Shariah auditors in Islamic financial institutions (IFIs).

1845

Abstract

Purpose

The purpose of this paper is to propose the conceptual relationship between competency and effectiveness of internal Shariah auditors in Islamic financial institutions (IFIs).

Design/methodology/approach

Normative and theorizing based on the main sources of Islam, mainly Maqasid al-Shariah theory, has been utilized in this research.

Findings

This study demonstrated how Maqasid al-Shariah or higher objectives of Islamic law have gradually captured the attention of increasing numbers of modern Muslim scholars for solving contemporary issues.

Originality/value

This study uniquely captured Maqasid al-Shariah for the competency of internal Shariah auditor.

Details

Journal of Islamic Accounting and Business Research, vol. 9 no. 2
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 6 May 2021

Tauhidul Islam Tanin, Abu Umar Faruq Ahmad and Aishath Muneeza

This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks.

Abstract

Purpose

This study explores the practical application of the Shariah screening process and how it could be enhanced by converging the same with the ethical screening of stocks.

Design/methodology/approach

This study adopts a qualitative research methodology by combining the qualitative descriptive approach and content analysis.

Findings

The findings of this research suggest that there is scope to converge ethical screening of stocks with Shariah Screening as the lex loci applicable to Shariah screening is derived from Shariah, which considers ethics as part of determining its rules.

Practical implications

The data from this study reveal several practical applications, the ultimate goal of which is to help the policymakers and stakeholders understand the relevance of the Shariah screening of stocks and get a streamlined screening process, paving the way to enhance the same using ethical screening criteria to develop its function to become much more relevant irrespective of the denomination of faiths.

Originality/value

This is original research, which is expected to contribute to understanding the extent to which Shariah screening can be enhanced by integrating the ethical stock screening dimension to it.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Open Access
Article
Publication date: 7 October 2020

Yusuf Karbhari, Md. Kausar Alam and Md. Mizanur Rahman

Prior studies on Islamic finance provide a limited linkage between organizational theory and the complex Shariah governance framework embraced by Islamic banks worldwide…

2494

Abstract

Purpose

Prior studies on Islamic finance provide a limited linkage between organizational theory and the complex Shariah governance framework embraced by Islamic banks worldwide. This paper aims to show the relevance of the application of “institutional theory” in the Shariah governance framework of Islamic banks.

Design/methodology/approach

This study applied library research to investigate the application of institutional theory in the Shariah governance framework of Islamic banks. The authors also critically reviewed prior empirical and review papers for accomplishing the research objectives.

Findings

Based on the critical review, the authors found that institutional theory is the most influential in progressing Shariah governance as it contributes toward the organizational image, helps to achieve religious legitimacy, and inspires a more robust regulatory environment. In addition, a well-designed Shariah governance framework is driven by institutional theory and that could assist in providing guidelines, strategies and procedures for Islamic banks to better conduct; monitor and control their social, religious and accountability obligations. The authors also highlighted the societal, economic and legal environment of Islamic banks in relation to the propositions of institutional theory. They emphasize that a well-designed Shariah governance framework driven by institutional theory could assist in providing guidelines, strategies and procedures for Islamic banks to better conduct, monitor and control their social, religious and accountability obligations.

Research limitations/implications

This study highlights institutional theory to serve best the development of operational strategies and structures of Islamic banks including the roles, functions and powers of the various stakeholders including regulators and those involved in the Shariah governance process of Islamic banks. The authors recognize the institutional theory to perform a key role in enriching the structural framework of Islamic Financial Institutions. This study is heavily dependent on prior research rather than empirical investigations. The authors did not cover other Islamic finance areas (such as Islamic insurance, Islamic microfinance and Halal industries). Thus, future researchers can apply institutional theory in Shariah governance practices and implementations of setting up rules by the regulators and respective institutions.

Originality/value

To the best of the authors’ knowledge, this is the first study that attempts to show the importance of the application of institutional theory in Shariah governance of Islamic Banks. Thus, this study, therefore, adding a novel dimension to the literature by arguing why institutional theory, is more pronounced (as compared to the other theoretical frameworks) in the formation and discharge of the roles, powers and functions by the different governance organs (such as regulators, the board of directors, management and Shariah supervisory board) operating in this unique corporate governance landscape.

Details

PSU Research Review, vol. 5 no. 1
Type: Research Article
ISSN: 2399-1747

Keywords

Article
Publication date: 3 June 2014

Hanudin Amin, Abdul-Rahim Abdul-Rahman and Dzuljastri Abdul Razak

The purpose of this study is to propose a theory of Islamic consumer behaviour to explain the factors that influence the Islamic mortgage industry. Although previous works…

6402

Abstract

Purpose

The purpose of this study is to propose a theory of Islamic consumer behaviour to explain the factors that influence the Islamic mortgage industry. Although previous works have shown that conventional marketing theories were, to a certain extent, able to predict factors influencing halal marketing and Islamic mortgage, these theories fail to capture or accommodate the Islamic perspectives of consumer behaviour. Conventional marketing theories have also been found to be inadequate to explain the Islamic mortgage preference among consumers.

Design/methodology/approach

Drawing upon the Maqasid al-Shariah, this study develops an Maqasid al-Shariah index (MSI) and religious satisfaction (RS) for Islamic mortgage industry in Malaysia. These indexes are developed as the basis of the theory development in this setting. The model developed is later examined using survey data.

Findings

This study reveals that education and RS are instrumental in determining the Islamic home financing preference. In contrast, justice and welfare are insignificantly related to the Islamic home financing preference. Religious satisfaction, to a certain extent, plays role not only as a mediator but also as a moderator. We find that RS has a full mediation effect on the relationship between welfare and willingness to consider applying Islamic mortgage. We discover justice is moderated by RS. Education and welfare however are not moderated.

Originality/value

This study contributes to the development of an empirical Islamic framework in predicting consumers’ behaviour in an Islamic mortgage market using a Maqasid approach. This study is also pioneering in introducing two indexes, notably MSI and RS, and applying these indexes to Islamic home financing context.

Details

Journal of Islamic Marketing, vol. 5 no. 2
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 5 September 2016

Mohammed Obaidullah

Available zakat accounting standards as well as the laws governing business zakat suggest that the adjusted net working capital or the adjusted growth capital of a…

1994

Abstract

Purpose

Available zakat accounting standards as well as the laws governing business zakat suggest that the adjusted net working capital or the adjusted growth capital of a business may be regarded as the base for computation of its zakat liability. The apparent consensus follows from the fiqhi prescription of imposing zakat on urud al-tijarah or the inventory of goods available for trade. Some contemporary scholars however question the rationale underlying this method and argue that the objectives of the Shariah are better met by seeking recourse to alternative methods of zakat determination for business organizations. There is therefore a need to revisit the issues and subject them to fresh scrutiny in terms of economic rationality and consistency.

Design/methodology/approach

The paper examines the arguments of the “orthodox” school as well as those of some contemporary scholars on alternative methods of computing business zakat. It also undertakes a comprehensive review of the laws of zakat as they are related to businesses and the related accounting pronouncements along with their underlying rationale. As the issue of incentivizing zakat payment is an important one, and it is often linked to provision of tax benefits, the paper examines a few suggestions in this regard.

Findings

On examination of specific suggestions – specifically, of treating earnings as zakat base – to scrutiny in terms of economic rationality and consistency, the authors argue that the “orthodox” position is not only consistent but also makes enormous economic sense. Further, the issue of incentivizing zakat payment and that of lack of harmonization between business zakat accounting and taxation need not be and should not be resolved by making changes in the former because the same has a sound Shariah basis. It can be easily resolved, if need be, by making changes in methods of taxation (tax deduction or tax rebate) and base them on specific items in the balance sheet or the income statement.

Practical implications

The paper provides useful insights to policy makers who are concerned about the huge gap between actual and potential collection of zakat and are considering tax reforms for incentivizing business zakat mobilization. It highlights the diversity in practices relating to zakat computation and related taxation across Muslim countries.

Originality/value

The paper searches for and observes consistency and compatibility between the orthodox Shariah-legal position and several accounting and taxation-related policies relating to business zakat. The policy prescriptions are expected to rejuvenate and strengthen the global zakat sector.

Details

Journal of Islamic Accounting and Business Research, vol. 7 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 12 February 2018

Roshima Said, Khairunnisa Abd Samad, Noor Zahirah Mohd Sidek, Nurul Fatihah Ilias and Noorain Omar

The purpose of this paper is to examine the extent of Maqasid Al-Shariah corporate social responsibility (CSR) disclosure of public listed companies of Shariah-compliant…

1178

Abstract

Purpose

The purpose of this paper is to examine the extent of Maqasid Al-Shariah corporate social responsibility (CSR) disclosure of public listed companies of Shariah-compliant companies in Malaysia.

Design/methodology/approach

Content analysis was used to construct the Maqasid Al-Shariah CSR disclosure index. Furthermore, the study used a checklist that covered four themes of CSR, namely environment, community involvement, human resource and product, and five elements of Maqasid Al-Shariah, namely, faith, human self, intellect, posterity and wealth.

Findings

The findings of the study show that the level of Maqasid Al-Shariah CSR disclosure index is generally low. The study found that Shariah-compliant companies revealed more community-related theme and an intellect element in their annual reports for the year of the survey.

Originality/value

This paper is one of few papers that has developed the Maqasid Al-Shariah CSR disclosure index that used the aforementioned four themes of CSR and five Maqasid Al-Shariah elements.

Details

International Journal of Ethics and Systems, vol. 34 no. 1
Type: Research Article
ISSN: 0828-8666

Keywords

Open Access
Article
Publication date: 4 June 2021

Md. Kausar Alam, Fakir Tajul Islam and Mahfuza Kamal Runy

The purpose of this paper is to explore the question “Why is Shariah Governance Framework (SGF) important for Islamic banks?”

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Abstract

Purpose

The purpose of this paper is to explore the question “Why is Shariah Governance Framework (SGF) important for Islamic banks?”

Design/methodology/approach

A semi-structured face-to-face personal interview is used to accomplish the research objectives. This study has collected data from the concerned bodies related to Shariah Governance (SG) from the central bank and Islamic banks of Bangladesh.

Findings

This study states SG as a process of confirming Shariah compliance in the overall functions of the Islamic banks, while Shariah denotes some rules, regulations, guidelines, objectives and directions to enhance accurate functions and activities, which are solely based on Shariah principles. SGF is important for Islamic banks to implement Shariah principles, confirm Shariah compliance and monitor the functions of the banks. Besides, it is needed for a well, efficient, effective, profitable business and higher performance and, finally, to eliminate the confusion among the management, executives, conventional bankers and banks.

Research limitations/implications

This study significantly contributes to the national and global regulatory bodies by providing evidence that why do Islamic banks and financial institutions require a sound SGF. It is recommended that there should be a sound and robust SGF to protect and fulfill the interest, expectations and demands of different stakeholders, which can easily draw their attention, intention and interest.

Originality/value

This is the first research that extends the literature of Islamic banking and SG by highlighting the importance of SGF. This study claims that to be a complete Islamic bank as well as protecting the unique identity from the general banks and corporate governance system, SG manual is required.

Details

Asian Journal of Economics and Banking, vol. 5 no. 2
Type: Research Article
ISSN: 2615-9821

Keywords

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