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Open Access
Article
Publication date: 10 July 2017

Omar Ahmad Kachkar

This paper aims to propose cash waqf (endowment) to develop a conceptual model that can be utilised to extend microfinance for refugees.

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Abstract

Purpose

This paper aims to propose cash waqf (endowment) to develop a conceptual model that can be utilised to extend microfinance for refugees.

Design/methodology/approach

Qualitative method is used in this research. An extensive review of the literature has been conducted. Latest literature on refugees, microfinance has been critically examined beside the current cash waqf models.

Findings

Empirical studies have shown that many refugees are equipped with marketable skills and talents that can be utilised to improve their socio-economic situations. The proposed model – cash waqf refugee microfinance fund (CWRMF) – is structured to extend microfinance to potential refugee micro entrepreneurs. To address the lack of collateral, which is a requirement to gain any microfinance, CWRMF has been incorporated with a takaful unit (cooperation) by which refugees may guarantee each other. Additionally, the model has also been structured to address the challenge of sustainability of the institution that would provide microfinance. Hence, a reserve fund has also been integrated into the model.

Practical implications

CWRMF represents a potential model to be implemented by humanitarian non-governmental organisations (NGOs) and aid agencies to support livelihood of refugees in particular for Muslim refugees. Positive outcome is expected from the implementation of this model. This is because of the various advantages of microfinance programs not only on refugees but also on concerned NGOs, host populations and donor parties. Additionally, this paper is a set of primarily thoughts aims to open the door wider for more researchers to explore the potential of cash waqf as one of the instruments to finance refugee microenterprises and business activities.

Originality/value

Recently cash waqf has been into several models for socio-economic development and poverty alleviation. This paper is proposing cash waqf as a source for a microfinance fund that can contribute in the improvement of socio-economic situations of millions of refugees around the world.

Details

ISRA International Journal of Islamic Finance, vol. 9 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 18 June 2021

Omar Kachkar and Fares Djafri

This study aims to investigate the relevance of the theory of planned behaviour (TPB) in predicting the intentional behaviour of refugee entrepreneurs. This paper uses key…

Abstract

Purpose

This study aims to investigate the relevance of the theory of planned behaviour (TPB) in predicting the intentional behaviour of refugee entrepreneurs. This paper uses key components of the theory on attitude, subjective norms and perceived control to explore the willingness of refugees to participate in microenterprise support programmes (MESP) in refugee camps.

Design/methodology/approach

This study used a positivist research approach, comprising a quantitative basis of enquiry and gathered data via survey questionnaires. In total, 400 usable questionnaires were completed and used for analysis. This study uses descriptive and inferential analysis with SPSS and confirmatory factor analysis with AMOS to test three key TPB hypotheses.

Findings

The structured model revealed acceptable high goodness-of-fit indices. Also, the findings indicated that out of three hypotheses, two hypotheses (attitude and perceived control) were substantial, positive and significant. However, the relationship between subjective norms of refugees and their intention to participate in MESP was insignificant. The findings of this study indicate the low-profile refugees give to the views and opinions of the surrounding communities when it comes to determining their intentional behaviour. As such, some poignant implications may relate to microfinance and microcredit programmes targeting refugees.

Practical implications

The present study illustrates the interrelationships between the proposed variables. Also, by understanding the relationships between the selected variables, the findings would be useful for the concerned authorities to ameliorate and upgrade the well-being of refugees along with empowering their environment, which would facilitate their engagement in business and entrepreneurship.

Originality/value

This study explores the relevance of TPB and its components in the context of the intentional behaviour of refugee entrepreneurs. It further illuminates the distinction of refugee behaviour towards entrepreneurship and MESP.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 14 no. 4
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 31 May 2022

Omar Kachkar and Mustafa K. Yilmaz

This study aims to examine diversity in the composition of Shariah supervisory boards (SSBs) of Islamic banks (IBs). It investigates diversity from two perspectives: existing…

Abstract

Purpose

This study aims to examine diversity in the composition of Shariah supervisory boards (SSBs) of Islamic banks (IBs). It investigates diversity from two perspectives: existing composition of SSBs and the regulatory frameworks and standards of selected Organisation of Islamic Cooperation countries. Diversity characteristics include education, nationality, gender and age.

Design/methodology/approach

A list of all full-fledged Islamic commercial banks (FFICBs) globally has been carefully prepared and confirmed. Conventional banks with Islamic windows, non-commercial banks, takaful companies and other Islamic financial institutions are excluded. The available profiles of 428 SSB members have been scrutinised and analysed. These board members occupy 522 SSB positions in 238 FFICBs operating in 52 countries around the globe. From the regulatory perspective, 12 national and international Shariah governance frameworks and standards have been examined.

Findings

Findings of this paper indicate various levels of diversity in SSBs of the reviewed IBs. The level of diversity in educational background and in the nationality of SSBs can be described as generally acceptable. However, a lack of diversity in gender and age among SSB members is evidently observed in IBs. While the lack of age diversity in SSBs may be relatively justified as a common trend in the composition of corporate boards, SSBs of IBs are seriously lagging behind in gender diversity. On the regulatory level, this study concluded that provisions on diversity as a requirement in SSBs are almost non-existent in the existing regulatory frameworks and standards.

Research limitations/implications

The major limitation of this study is the lack of available information on the SSB members.

Practical implications

This paper provides insights for IBs and policymakers concerned with the corporate governance of IBs and all Islamic financial institutions. First, it offers an excellent bird’s-eye view of the status of diversity in SSBs of IBs. Second, it motivates policymakers and standard-setting bodies to ensure, through the relevant regulatory frameworks, adequate levels of diversity in the composition of SSBs. Diversity in SSBs of IBs and Islamic financial institutions should be given special emphasis, not only in boards and top management positions but also in the workplace. This is of profound significance to the reputation of Islamic finance industry which has been recently under mounting pressure to translate the rhetoric about the Islamic finance industry being ethical, fair, just, equitable and inclusive into genuine implementations.

Originality/value

To the best of the authors’ knowledge, this study is the first of its kind to examine the diversity of SSB members from the regulatory as well as from the implementation perspective.

Details

International Journal of Ethics and Systems, vol. 39 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Open Access
Article
Publication date: 10 July 2017

Ashraf Md. Hashim

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Abstract

Details

ISRA International Journal of Islamic Finance, vol. 9 no. 1
Type: Research Article
ISSN: 0128-1976

Open Access
Article
Publication date: 15 July 2022

Sulistyowati, Raditya Sukmana, Ririn Tri Ratnasari, Ascarya and Tika Widiastuti

This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant;…

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Abstract

Purpose

This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant; thus, the present paper aims to provide a nongovernment budget to lessen the government's burden

Design/methodology/approach

This qualitative study uses structured in-depth interviews with 12 respondents to generate valuable insights and thoughts in order to frame recommendations.

Findings

The findings highlight the key themes: human resources, finance, collaboration and coordination, legal issues, basic healthcare insufficiency, data and digitalization, accountability and sustainability and infrastructure. The following are the proposed solutions: capacity building program (CBP), hybrid waqf scheme, big data connectivity, specific legal framework, refocusing and reallocating of resources for the health sector during and after the pandemic

Research limitations/implications

This study focuses on Indonesia and Malaysia as the authors believe that these two countries have a lot of practice in the field. Further studies may focus on other countries, such as Pakistan.

Practical implications

This paper proposes potential ways to embrace government policy consideration, optimize the elaboration among productive waqf with other kinds, improve governance of and coordination among waqf institutions and increase the awareness to improve significant development.

Social implications

By considering this paper's recommendations, waqf stakeholders in the healthcare system can improve the social benefits for poor and needy patients.

Originality/value

This study presents the latest strategic analysis of waqf, which is important for the government policy in developing waqf.

Details

Islamic Economic Studies, vol. 30 no. 1
Type: Research Article
ISSN: 1319-1616

Keywords

Open Access
Article
Publication date: 6 July 2021

Wan Nuraihan Ab Shatar, Jalal Rajeh Hanaysha and Putri Rozita Tahir

This paper aims to test the main factors that affect cash waqf collection among the employees of Islamic banking institutions (IBIs) in Malaysia.

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Abstract

Purpose

This paper aims to test the main factors that affect cash waqf collection among the employees of Islamic banking institutions (IBIs) in Malaysia.

Design/methodology/approach

The data was gathered using a survey method from 218 employees of IBIs in Malaysia. The obtained data was analyzed using the Statistical Package for the Social Sciences software and smart partial least squares-structural equation modeling to verify the hypothesis and reach conclusions.

Findings

The results revealed that word of mouth and trust have significant positive impacts on cash waqf collection. The outcomes also confirmed that convenience and accessibility to cash waqf play significant roles in affecting cash waqf collection.

Originality/value

Based on the researchers’ knowledge, there are only a few studies which focused on measuring the driver of cash waqf collection from the employees’ perspective, particularly in the Malaysian context. This study specifically applies the theory of reasoned action to determine employees’ attitudes toward cash waqf fund collections in IBIs in Malaysia. Having an understanding of the factors that influence employees to contribute to cash waqf would better equip IBIs in managing their cash waqf contributions and in designing their marketing and branding strategies for promoting their institutions.

Details

ISRA International Journal of Islamic Finance, vol. 13 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 21 March 2023

Dilip S. Mutum, Ahmad Hata Hussein and Ezlika M. Ghazali

This study investigates the antecedents of student loyalty towards universities. This study offers new insights into postgraduate loyalty in the context of the Malaysian higher…

Abstract

Purpose

This study investigates the antecedents of student loyalty towards universities. This study offers new insights into postgraduate loyalty in the context of the Malaysian higher education industry.

Design/methodology/approach

Partial least squares structural equation modelling is used to analyse data obtained from a survey of 231 postgraduate students in Malaysia.

Findings

The findings indicate that there is a significant relationship between price value and both student satisfaction and student loyalty. There are also strong relationships between learning environment and student satisfaction and between student satisfaction and student loyalty. While university prestige showed a significant relationship with student satisfaction, it is not related to student loyalty. Another important finding is that price value has a strong and direct relationship with both student satisfaction and student loyalty.

Originality/value

This study presents an updated empirical model of student loyalty. Contrary to previous studies, the results indicate that service quality is not related to student satisfaction. However, it is found to influence student loyalty towards the University. The results also indicate the important mediating effect of student satisfaction. This is the first study to look specifically at student satisfaction and loyalty of postgraduate students in Malaysia.

Details

International Journal of Educational Management, vol. 37 no. 3
Type: Research Article
ISSN: 0951-354X

Keywords

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