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1 – 3 of 3Ahmad Hidayat bin Md Nor, Aishath Muneeza and Magda Mohsin
This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and…
Abstract
Purpose
This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and post-bankruptcy stages.
Design/methodology/approach
The research adopts a qualitative research method, using a desktop research approach. Primary sources and secondary sources are examined to gather information and draw conclusions.
Findings
This study presents a comprehensive insolvency model designed for Islamic banks, rooted in Shariah principles. The model covers pre-insolvency, bankruptcy (taflis) and post-bankruptcy stages, incorporating key Shariah parameters to ensure adherence to Islamic finance principles. It addresses challenges such as adapting to dynamic financial landscapes and varying interpretations of Shariah principles. Notably, the model recognizes the separate legal personality of Islamic banks and emphasizes transparency, fairness and compliance with religious obligations. In the post-bankruptcy stage, directors are urged to voluntarily settle remaining debts, aligning with ethical and Shariah-compliant standards.
Originality/value
The study contributes to the stability and growth of Shariah-compliant financial systems by extending insolvency principles to Islamic banks, providing a foundation for future research and policymaking specific to this context.
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Nuryakin, Mohd Shamsuri Md Saad and Maghfira Rizky Maulani
Few studies only focus on halal cosmetics, although several previous studies have examined halal food and beverages. This study aims to explore the relationship between knowledge…
Abstract
Purpose
Few studies only focus on halal cosmetics, although several previous studies have examined halal food and beverages. This study aims to explore the relationship between knowledge, emotional attachment and religiosity on purchase intention, mediated by satisfaction and brand trust. This study stems from the theory of reasoned action (TRA), which merges the knowledge, emotional attachment, religiosity and purchase intention of halal cosmetics.
Design/methodology/approach
The researchers distributed online questionnaires to respondents via Google Form using social media (Instagram)/messaging application (WhatsApp). The respondents were Indonesian and Malaysian millennial Muslims. The sampling technique used was purposive sampling. A total of 528 respondents were involved, consisting of 335 Indonesians and 193 Malaysians. However, data for 381 respondents were successfully screened for normality, outliers and multicollinearity. Furthermore, the data was used for examining the hypotheses proposed.
Findings
The results for Indonesian and Malaysian samples showed that there is a significant positive effect of knowledge, emotional attachments and religiosity on satisfaction and brand trust. But the Indonesia sample showed that there is no significant effect of religiosity on satisfaction. For Indonesia, there is a positive significant mediating role of satisfaction on purchasing intention. For Malaysia, there is no significant mediating role of satisfaction on purchasing intention. For Indonesia and Malaysia, there are positive significant mediating role of brand trust on purchasing intention.
Research limitations/implications
The study compared consumers of the millennial generation in Indonesia and Malaysia with limited samples. For future research, it is suggested to exploring and combining non-Muslims and Muslims in the millennial generation and testing it in more than two countries.
Practical implications
The study provides an accurate understanding of the relationships proposed, such as knowledge, emotional attachment and religiosity, on satisfaction, brand trust and purchasing intention of millennial Muslim woman consumers in Indonesia and Malaysia, because the millennial Muslim woman consumers in Indonesia and Malaysia had the same behavioral characteristics: Muslim consumers and product characteristics.
Social implications
The study of halal cosmetics can provide a spiritual commitment for Muslims, who consciously prefer socio-religious values in choosing cosmetic products. Therefore, the halal label of the product is also a reason for social and religious values to increase the social awareness of the Muslim millennial generation in Malaysia and Indonesia.
Originality/value
This research discusses the antecedents and consequences of satisfaction and brand trust on the purchasing intention of halal cosmetics. The response of Muslim consumers to halal cosmetics has not been widely studied in Indonesia and Malaysia. Meanwhile, in Indonesia, the halal label on all products has recently been made mandatory by the Indonesian Ulema Council. Therefore, this research offers insights into the attitudes of Muslim consumers towards halal cosmetics products.
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Khadar Ahmed Dirie, Md. Mahmudul Alam and Selamah Maamor
The sustainable development goals (SDGs) devised by the United Nations (UN) call on countries – whether rich or poor – to solve global issues, improve lives and save the planet…
Abstract
Purpose
The sustainable development goals (SDGs) devised by the United Nations (UN) call on countries – whether rich or poor – to solve global issues, improve lives and save the planet for future generations. However, the UN predicts that between $5 and $7tn will need to be spent annually between now and 2030 to accomplish these goals, posing a major financial hurdle. Islamic social finance, if used ethically, seeks to realise SDGs through fairness, justice and equity. Thus, this study aims to determine how Islamic social finance instruments such as Zakat, Waqf, Sadaqat and Qard-hasan contribute to realising SDGs.
Design/methodology/approach
This study used a preferred reporting items for systematic reviews and meta-analyses-based systematic literature review. Scopus and Google Scholar were chosen for the qualitative and meta-analysis of studies. The topic was reviewed in 178 academic papers from 2000 to 2022. The required articles were analysed after careful review.
Findings
Islamic social financing mechanisms have the capacity to solve many social issues and create better welfare conditions by ensuring economic, social and environmental sustainability in line with the SDGs. Indonesia and Malaysia lead Islamic social finance research, the survey found. The review revealed that Islamic social funding can achieve 11 out of 17 SDGs. Islamic commercial finance can be used for the remaining goals. The paper highlights Islamic social funding research limitations and opportunities.
Research limitations/implications
The review study shows that Islamic social finance can fill the SDG funding gap, especially considering the post-pandemic financial crisis that has increased global income inequality and social disparities.
Originality/value
To the best of the authors’ knowledge, this article is the first of its kind to review the potential of Islamic social financing instruments to help achieve the SDGs.
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