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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 model…

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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: 10 January 2023

Ascarya Ascarya and Atika Rukminastiti Masrifah

This study aims to develop the maqasid index (MI) for Islamic corporate social responsibility (CSR), namely, Dana Abadi Umat (DAU) (Ummah’s Endowment Fund) or MI-DAU in Indonesia.

Abstract

Purpose

This study aims to develop the maqasid index (MI) for Islamic corporate social responsibility (CSR), namely, Dana Abadi Umat (DAU) (Ummah’s Endowment Fund) or MI-DAU in Indonesia.

Design/methodology/approach

Modeling and weighting are based on Delphi and analytic network process (ANP) methods, called Delphi–ANP additive weighting. The Delphi method was applied to design and validate the factors of the MI-DAU model, and the ANP method was applied to generate and validate weights for these factors. Finally, the MI-DAU is calculated, based on the planned budget and actual allocation of DAU returns, called the maslahah fund, using additive weighting.

Findings

Delphi and ANP show significant and robust results. The priority order and weights of maqasid Shariah are safeguard the faith (0.32), safeguard the intellect (0.219), safeguard the life (0.204), safeguard the wealth (0.171) and safeguard the lineage (0.104). Meanwhile, the priority order and weights of the main activities are education (0.190), Ummah’s economy (0.167), Hajj service (0.155), Da’wah (0.124), health care (0.118), social-religious (0.097), worship facilities (0.085) and disaster emergency response (0.065). Finally, the results of MI-DAU show a high index in 2019 and 2020 of 71.89 and 69.51, respectively, generated from allocation ratio of 90.63% and 85.98%, respectively.

Research limitations/implications

Maqasid Shariah used in this study follows Al-Ghazali, where it could also follow maqasid Shariah of Abu Zahrah or Al-Najjar. Moreover, the MI-DAU score uses additive calculations, where it can also use Pentagon calculation.

Practical implications

The improved framework and method used to design MI-DAU in this study could be applied to design more scientific MI for other Islamic financial institutions.

Originality/value

The novelty of this study is in the improved method used to design the MI model, including its factors, using Delphi, and to assign weights of all factors using ANP, where both provide validation for more robust MI model.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 4
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 11 October 2022

Aishath Muneeza, Saeed Awadh Bin-Nashwan, Magda Ismail Abdel Moshin, Ismail Mohamed and Abdelrahman Al-Saadi

This paper aims to examine the existing practice of accepting zakat payments using cryptocurrencies and crypto assets by discussing its Shariah issues.

Abstract

Purpose

This paper aims to examine the existing practice of accepting zakat payments using cryptocurrencies and crypto assets by discussing its Shariah issues.

Design/methodology/approach

This is qualitative research in nature, as unstructured interviews with experts in the field were conducted to understand the existing practice regarding zakat on cryptocurrencies/crypto assets while literature on the topic was reviewed to derive conclusions.

Findings

It is found that there are divergent views among contemporary Shariah scholars on the Shariah permissibility of cryptocurrency and crypto assets. As such, by evaluating the existing practices of some companies, this study has concluded that there is room to pay zakat using cryptocurrencies and from investments made on crypto assets. As long as they have been screened and classified as Shariah-compliant, they can be qualified to be part of one’s wealth from which zakat shall be paid. However, the findings of this research shall be subject to the fatwa and rules adopted in the specific jurisdiction in which the zakat payer resides. Laws made by the ruler to benefit the public ought to be considered in upholding the masalih (public interests) of all, which is in line with the legal maxim of “tasarruf al imam manut bi al-maslahah” (the ruler’s decision is dictated in favor of the people).

Originality/value

It is anticipated that the findings of this research will benefit zakat organizations and zakat payers in understanding how they should deal with cryptocurrencies and crypto assets in the collection and payment of zakat.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 3
Type: Research Article
ISSN: 1753-8394

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 environment. Such…

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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).

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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: 31 March 2023

Afiffudin Mohammed Noor, Fathullah Asni, Mohd Afandi Mat Rani and Muhamad Rozaimi Ramle

This paper aims to analyse the implementation of istibdal waqf property in several states of Peninsular Malaysia. To achieve this objective, this study identified the amount of…

Abstract

Purpose

This paper aims to analyse the implementation of istibdal waqf property in several states of Peninsular Malaysia. To achieve this objective, this study identified the amount of waqf property ‘am (general) and waqf property khas (special) which were involved in the process of istibdal in each state, the factors that have caused the istibdal to be implemented, the rate of istibdal involved for each lot of waqf lands and the type of property replacement performed.

Design/methodology/approach

This study used the qualitative method, whereby the researchers had collected secondary data consisting of documents related to waqf from the State Islamic Religious Council (MAIN). The type of documents obtained were public records. The data collected were analysed using the content analysis techniques.

Findings

The results showed that there are several factors involved in the implementation of istibdal, namely, the acquisition of waqf land by the State Authority, applications by external parties for a particular interest and the initiatives taken by the MAIN on waqf property which is problematic and uneconomical to generate waqf fund. This study also found some Shariah and management issues, which were identified in the implementations of istibdal, whereas some cases of istibdal were only carried out on a small part of the waqf lands and there were also cases of the implementation of istibdal which have not been replaced with fixed assets as authorised by the istibdal parameter. This study suggests some improvements to the issues identified in the implementation of istibdal for waqf managers in Malaysia.

Research limitations/implications

The limitation of this study is that it analyses only the documents that record the implementation of istibdal in the states managed by MAIN. Thus, the analysis performed was limited to the documents obtained without involving empirical data.

Practical implications

This study suggests some improvements to the implementation of istibdal waqf in the states studied. Therefore, these recommendations can be used by waqf property managers to improve the process of implementing waqf property istibdal so that it can be used to its maximum potential.

Social implications

If the recommendations in this study can be implemented, the Muslim community will benefit greatly from the waqf property because it is being developed through the method of istibdal. This impact can increase the confidence of the Muslim community towards MAIN in managing waqf property and encouraging the Muslim community to contribute to waqf property for the welfare of the ummah.

Originality/value

This study involved data on a larger waqf istibdal implementations that involved several states in Peninsular Malaysia, which to the best of the authors’ knowledge, the analysis involving such large research data have not been implemented before.

Details

Qualitative Research in Financial Markets, vol. 15 no. 3
Type: Research Article
ISSN: 1755-4179

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. 18 no. 2
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 22 December 2022

Rym Ammar, Sonia Rebai and Dhafer Saidane

The purpose of this paper is to suggest a model that yields a sustainability performance index for Islamic banks (IBs). This index is expected to account for stakeholders’…

Abstract

Purpose

The purpose of this paper is to suggest a model that yields a sustainability performance index for Islamic banks (IBs). This index is expected to account for stakeholders’ viewpoints while considering sustainability and Maqasid Al-Shariah as bases.

Design/methodology/approach

First, based on the relevant literature review refined through consultations with academic, banking and Shariah experts, the main stakeholders and their corresponding lists of relevant attributes and sub-attributes are identified. Then, adopting a multi-attribute utility approach and based on a second step of interviews with experts, an aggregated index is suggested. Finally, the developed index is applied to five famous Islamic banking groups over the period 2005–2019.

Findings

Empirical evidence shows that the banks used in the implementation do not achieve high scores of the suggested index. This can be interpreted through a lack of Islamic normative aspects and low adherence to sustainability practices. Specifically, they are not functioning on a justice basis and are deficient in providing sufficient varieties of Islamic products. They are also more interested in economic sustainability and are not involved in environmental and social ones.

Originality/value

The developed index not only considers the compliance of the banking activities with Shariah, but it also addresses their sustainability from the main stakeholders’ perspectives. The suggested model provides a transparent performance evaluation tool for IBs omitting all causes of conflict of interests and certifies the fairness of the resulting assessments.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 4
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 7 November 2022

Khalil Yahya Mohammed Abdo, Abu Hanifa Md. Noman and Mohamed Hisham Hanifa

This study aims to address how Islamic banks (IBs) and conventional banks (CBs) manage their liquidity and their speed of adjusting liquidity holdings both in the short- and long…

Abstract

Purpose

This study aims to address how Islamic banks (IBs) and conventional banks (CBs) manage their liquidity and their speed of adjusting liquidity holdings both in the short- and long term.

Design/methodology/approach

This study uses the partial adjustment model (PAM) on a sample of 445 banks from 17 Organisation of Islamic Cooperation countries over the period 2010–2018.

Findings

Results reveal that despite IBs’ placement of higher short-term liquidity buffer, they experience lower net stable fund ratio (NSFR) in the long term, relative to CBs. This study’s results also reveal that IBs enjoy higher and lower speed of adjustment (SOA) for NSFR in the long- and short term, respectively. Furthermore, the results suggest that bank-specific and macroeconomic factors weaken the liquidity SOA.

Practical implications

This study sheds light on the importance of the adjusting speed of bank liquidity in a bid to provide regulators with insights for enhancing liquidity holdings and emphasising the regulation of banks’ reaction pace to attain the target buffers.

Originality/value

This study estimates the liquidity adjustment speed of IBs and CBs by providing a comprehensive discussion and empirical evidence across countries. To the best of the authors’ knowledge, this study is the first to use PAM for the assessment of liquidity holdings in IBs and the first to examine SOA of short-term liquidity holdings in the banking sector.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

1 – 10 of 137