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The purpose of this study is to develop a new framework to measure waqif preference of waqf-based qardhul hassan financing in Malaysia.

Using a maqāṣid approach, this study’s data were drawn from 286 valid usable questionnaires to examine the effects of consumer, family, ummah and humanity factors on the preference.

The study found that the said factors sourced from Attia’s maqāṣid al-Shariah were instrumental in determining waqif preference to donate in waqf-based qardhul hassan financing.

Like others, this study’s findings are limited in terms of their generalisations and applications. The theory, context and variables used should be expanded in future works.

The results obtained are useful as a yardstick to enable the offered waqf-based qardhul hassan financing for improved mutual well-being among different classes of the wealth of societal groups in Malaysia. Furthermore, the results provide valuable insights into the direction for practitioners mainly managers involved in introducing waqf-based qardhul hassan financing as a new Islamic social financial instrument for poor and needy folks, at best.

This study is novel in terms of the proposed conceptual framework, where the waqif perspective comes into play.

The purpose of this study is to examine the management of cash waqf fund generation through the implementation of istibdal in Kedah.

The data are obtained through literature and empirical data. The authors first review the literature on the importance of waqf fundraising, the implementation factors of istibdal waqf and the relevance of istibdal method as a waqf fund generation medium to understand the extent to which the scholarly articles have discussed these topics. Furthermore, the authors conducted face-to-face interviews with two Kedah Islamic Religious Council (Majlis Agama Islam Kedah [MAIK]) officers, who were directly involved in the affairs of istibdal waqf to obtain holistic information regarding implementing istibdal waqf properties in Kedah. As a result, several themes are defined from the interview data before being analysed based on the content analysis method.

The results of the study show two istibdal implementation processes outlined by the Kedah Islamic Religious Council (MAIK), namely, the istibdal implementation process for waqf land registered title deed, and waqf land registered as reserve certificate for religious use like mosque and cemetery. The results also showed three factors in implementing istibdal in Kedah: the acquisition of waqf land by the state authority (PBN), istibdal application by the state education department (JPN) and istibdal application by the mosque committee. Out of eight cases of istibdal implementation, four have generated cash funds for MAIK through investment methods from the sale of waqf lands and rental of replaced shophouses that are able to cover the expenses of managing waqf properties in Kedah. Several suggestions are also recommended for MAIK to improve its istibdal policy, thus enabling the institution to generate cash waqf funds at the maximum rate.

This study only focused on the implementation factors and the generation of cash waqf funds through istibdal in Kedah, while it can be expanded to other states like Terengganu, Kelantan and Penang. Furthermore, this study only interviewed officers who manage matters related to the affairs of waqf properties, as the session can actually be extended to other respondents, such as those specialising in cash fund generation investments and others.

This study proposed some improvements to the policy and guidelines of istibdal waqf property to MAIK after a few shortcomings were identified throughout this study. If improved, these proposals will have a significant impact, especially on the waqf properties involved in the implementation of istibdal, where it has the potential to bring cash generation and ensure the constant economic value of waqf properties.

This study has a tremendous impact on society, in which their areas have cash waqf funds that can be developed. It can benefit the needy and increase funds for the welfare expenditure of Muslims through rental income, investment and development. Progress on waqf property provides a high indication of the efficiency of an organisation in managing the waqf property. Thus, the public, especially the rich, is motivated to fulfil their charitable practices through waqf mechanism and share their wealth with the needy.

This study contributes to comprehensive field data on the implementation factors and generation of cash waqf funds through the implementation of istibdal in Kedah. The results of this study are significant to be used by waqf property management.

The purpose of this study is to formulate a governance and regulatory framework for Islamic crypto assets (ICAs). A balanced regulatory framework is required to protect consumers and to encourage digital Islamic finance innovation.

This study focuses on Indonesia and compares it to other countries, specifically Malaysia and the UK, using statutory, comparative and conceptual research approaches.

The ICAs are permissible (halal) commodities/assets to be traded if they fulfil the standards as goods or commodities that can be traded with a sale and purchase contract (sil’ah) and have an underlying asset (backed by tangible assets such as gold). Islamic social finance activities such as zakat and Islamic microfinance activities such as halal industry are backed by ICAs. The regulatory framework needed to support ICAs includes the Islamic Financial Services Act, shariah supervisory boards, shariah governance standards and ICA exchanges.

This study only examined crypto assets (tokens as securities) and not cryptocurrencies. It used regulations in several countries with potential in Islamic finance development, such as Indonesia, Malaysia and the UK.

The ICA regulatory framework is helpful as an element of a comprehensive strategy to develop a lasting Islamic social finance ecosystem.

The development of crypto assets must be supported by a regulatory framework to protect consumers and encourage innovation in Islamic digital finance.

ICA has growth prospects; however, weak regulatory support and minimal oversight indicate weak legal protection for consumers and investors. Regulating ICA, optimising supervision, implementing shariah governance standards and having ICA exchanges can strengthen the Islamic economic ecosystem.

The acceleration of globalized commerce and economic activities has meant that conventional and Shariah (Islamic law) compliant organizations transact and negotiate among themselves. Therefore, this study aims to explore the concept of corporate negotiation and the communicative principles that guide the negotiation process among Shariah-compliant organizations.

The study uses a qualitative method through an inductive interpretative approach by conducting 20 in-depth interviews among four groups of experts. These consist of three muftis, ten academicians in Islamic assets, finance and asset jurisprudence; three practitioners in charge of inter-organizational negotiation and decision-making; and four shariah board members of selected Islamic banks.

The findings reported that business negotiation is used by Islamic organizations for reconciliation, consultation, resolving disagreements and as a means of achieving spiritual satisfaction. Furthermore, the key communicative principles of the negotiation process consist of the credibility of informational exchange, flexible interactions and the openness and truthful disclosure of information.

The empirical data discussed in this study supports the claim that macro-environmental factors and social and cultural values should be considered when examining business negotiating behaviors. However, this study focuses only on the banking/service organization negotiation. Therefore, future research should focus on the Islamic negotiation process in the context of diplomatic and international relations.

The findings reported in this study offer insight for negotiators operating among Islamic organizations to understand the principles and process of negotiation in the purview of Shariah standards and principles.

In terms of theoretical implications, this study reveals a clear conceptual difference between the conventional concept and the Islamic perspective of corporate negotiation. Also, this study highlights the impact of organizational culture, specifically Islamic management strategies, on the business negotiation process and business communication principles.

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this study is to develop a performance measurement model based on Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms.

A mixed-method research approach was adopted to conduct the present study. Priorities were assigned to various dimensions of the Maqāṣid model using analytic hierarchy process and by taking inputs from 18 Takāful experts. On the contrary, six experts were involved in identifying the elements and measures for the operationalization of the Maqāṣid dimensions.

Maṣlaḥa (0.359) was found to possess the highest priority, followed by Justice (0.345) and Educating Individuals (0.295). Furthermore, under Necessity, protection of religion (0.398) and protection of life (0.388) are assigned almost similar priorities. These two are followed by the protection of progeny (0.107), protection of wealth (0.058) and protection of intellect (0.047). The final outcome of this study is a hierarchical model for the evaluation of performance of Takāful firms.

The application of the performance evaluation model will provide information to the management of Takāful firms on where they stand in terms of fulfilling Maqāṣid al-Sharī’ah principles. If any firms are found to have a deficiency in a certain part of Maqāṣid components, then proper and adequate measures can be taken to ameliorate the situation.

It is necessary to have a performance evaluation model based upon Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms as these firms operate on the principles of Maqāṣid al-Sharī’ah. Because there does not exist any such model, this study fills up this gap. Details of the measures that can be used to evaluate the performance of Takāful firms are also provided.

The purpose of this study include analyzing the conformity between the General Guidelines for the Governance of the Indonesian Sharia Entities (GGG-ISE) and the implementation in the field and proposing a model of corporate governance for Islamic property developers.

This research uses a qualitative method with a case study approach. The researcher used a structured interview method and chose a purposive technique to determine the interviewees. This study has seven interviewees representing three Islamic property developer companies in Jember Regency, East Java, Indonesia. Data collection was conducted from June to July 2023, with a duration of about 60 min for each interviewee. The interviews were conducted face-to-face in each interviewee’s residential office.

The results showed that the companies had implemented several principles of GGG-ISE, namely, ethical and responsible actors, risk management, internal control, compliance, disclosure and transparency by making financial reports, shareholder rights and stakeholder rights, both internal and external stakeholders. Furthermore, this study found that GGG-ISE does not comply with the components of the organizing organ group. This study also found that governance reports have not been implemented in GGG-ISE components. In addition, this study identified a new component that must be present and not found in GGG-ISE, namely, a statement of the use of contracts for mudharib owners and between mudharib owners and stakeholders. Based on these findings, this study proposes a governance model for Islamic property developer companies called the GGG-IPDE.

This research is a pioneer in proposing a corporate governance model for Islamic property developers.

In the last decade, the concept of Islamic attributes of destination (IAD) has emerged due to Muslim tourists’ need to visit a destination that complies with Sharia law. Since then, the IAD concept has been popular to increase the destination’s attractiveness and travel satisfaction for Muslim tourists. This concept evolved from evaluating the Muslim tourists’ perception of IAD to non-Muslim tourists and from assessing the Islamic attributes in Muslim-majority destinations to non-Muslim majority destinations. Furthermore, the literature showed several measurement scales to assess tourists’ satisfaction with IAD, and scholars were varied in the methods of analysis used to assess tourists’ satisfaction with IAD. The purpose of this study is to perform a systematic mapping study on satisfaction with IAD by answering five research questions.

This study used the preferred reporting items for systematic reviews and meta-analyses framework to guide the search process and search for relevant studies between 2012 and 2022 from two scientific databases, Scopus and Web of Science.

The search revealed 387 studies. In total, 31 articles met the eligibility criteria. This study indicates the journal considered research studies on tourists’ satisfaction with IAD the most, the method of analysis used in the previous studies, the Islamic destination attributes considered in the previous studies, the research distribution by counties, the research trend and the future direction.

To the best of the authors’ knowledge, this is the first systematic mapping study that delivers a summary of empirical research studies on tourists’ satisfaction with IAD.

Literature has pointed that conventional financial development theories have inconclusive role on motivating new businesses. New ventures often consider the conventional system that passes through risk and provides fixed-interest lending as a burden. Comparatively, Islamic finance contributes using participative and equitable substitute for startups and has a potential in promoting new businesses. This study aims to investigate the holistic financial development index quadratic effect on entrepreneurship and include the moderating role of Islamic financing at national level.

Islamic banks of 21 nations constitute the unbalanced panel data. Financial development and entrepreneurship indices were developed using factor analysis and panel median regression to estimate the nonlinear financial market development effects and Islamic financing moderation model.

The results indicated that low financial market development is entrepreneurship deterring because of interest burden effect, which could be eased with a proportional increase in the Islamic financing, which is participative. The moderating effect has led to the categorization of the sample countries into entrepreneurship promoting and entrepreneurship discouraging with respect to the current incidence of financial market development and Islamic financing, which can help policymakers in understanding the entrepreneurship promoting combination of financial development and Islamic financing.

Central banks and Shari’ah advisory councils can adopt Islamic financing transition in the national financial inclusion policy for new business facilitation.

This study is instrumental in exploring the assessment of introducing Islamic financing while developing the financial sector on multidimensional entrepreneurship.

This study aims to assess the impact of determinants on the effectiveness of internal audit (IA) within the banking industry of Bangladesh.

The data was obtained through 152 survey questionnaires from a total of 43 privately owned and six state-owned commercial banks in Bangladesh. The analysis was conducted using structural equation modeling.

The findings demonstrate that the independence of internal auditors and the quality of IA substantially impact enhancing the efficiency of IA. On the other hand, the competence of internal auditors and management support in IA functions do not significantly impact the effectiveness of IA.

The study’s findings may have significant policy implications for the government, regulators, internal auditors, management committees and other stakeholders in establishing programmes to enhance the efficacy of IA as a component of banking audit management reforms.

This study makes three distinct contributions to the existing literature. Firstly, previous literature focused on the determinants affecting the external audit efficiency of the public companies and banking sectors in Bangladesh (Hasan, 2018; M. M. U. Reza, 2021). In this study, the author enhances the research by presenting empirical findings on the IA effectiveness of banks. Secondly, the author expands the research by incorporating both private and state-owned commercial banks as samples. Thirdly, the study is unique given that it investigates the effectiveness of IA in response to the recent financial scandals in the banking industry of Bangladesh (The Daily Star, 2023).

This study aims to address the critical need for innovative financing solutions in the global housing sector, focusing specifically on Malaysia’s distinct housing finance system encompassing both conventional and Islamic loans. The primary objective is to develop a transformative housing finance model that addresses affordability challenges and reshapes the Malaysian housing landscape.

The study presents an alternate housing finance model for Malaysia, integrating lower monthly payments and reduced household debt. Key variables include house price appreciation rates, interest rates, initial guarantee fees and loan-to-value ratios. Inspired by the Help to Buy (HTB) scheme, the model aligns with proven global initiatives for enhanced affordability, balancing payment amounts, loan interest rates and acceptable price thresholds.

The study’s findings promise to address affordability disparities and reshape Malaysia’s housing finance landscape. The emphasis is on introducing a structured repayment plan that offers a sustainable path to homeownership, particularly for low-income families. Incorporating the future value adaptation concept, inspired by reverse mortgages and Islamic finance, enhances adaptability, ensuring long-term sustainability despite economic shifts.

The proposed model promotes widespread access to homeownership, offering practical solutions for policymakers to improve affordability, prompting adaptable risk management strategies for financial institutions and empowering potential homebuyers with increased flexibility.

The study introduces a transformative housing finance model for Malaysia, merging elements from reverse mortgages, Islamic finance and the HTB scheme, offering potential applicability to similar systems globally.