Search results

This paper aims to propose an Islamic compliant approach that deals with the prepayment rebate on debts resulting from cost-plus sales and their accompanied sale-based financing contracts. The proposed approach uses the time value of money concept without charging excessive fees from the debtor in the early settlement of debts.

The paper uses a qualitative analysis via analyzing and reviewing relevant literature. A quantitative analysis is subsequently used with a proposed computation that addresses prepayment rebate accompanied by debts resulting from cost-plus sales.

The proposed approach results in a rebate amount for the debtor greater than those rebate amounts resulting from either conventional finance techniques or current Islamic finance practices.

The application of the descending rebate proposed computation in this paper is restricted to cost-plus sale and their accompanied sale-based financing contracts only. The computation does not address any agreement or deal that may involve a rebate without a selling transaction.

The paper criticizes the prevailing practices for computing rebates in the case of debt prepayment, whether those nominated by conventional finance or others currently employed by most Islamic financial institutions. The paper also introduces a new rebate computation aimed to comply with Islamic finance's real context.

The original legislation which introduced the redundancy payments scheme was the Redundancy Payments Act 1965. This was the first of the substantive statutory individual employment rights given to an employee; other individual employment rights, as for example, the right not to be unfairly dismissed, followed some years later. The Redundancy Payments Act 1965 has been repealed and the provisions on redundancy are now to be found in the Employment Protection (Consolidation) Act 1978.

This paper aims to compare the rebate computation in Islamic sale-based financing contracts as proposed by Bank Negara Malaysia (BNM) in its guidelines on ibrāʾ (rebate) – with the rebate computation in conventional finance that is applicable to conventional loans, thus examining if there is a significant difference between the two approaches.

The paper employs the qualitative analysis method, involving review and discussion of relevant literature. Subsequently, a quantitative analysis is utilized to compare both rebate computations: the one proposed by BNM for Islamic sale-based financing contracts and the conventional finance computation that is utilized in conventional loans.

BNM's rebate computation for debts resulting from sale-based financing contracts does not differ from the conventional finance rebate computation applied to conventional loans; such similarity may raise the usury concerns that the conventional finance rebate computation raises.

The paper focuses only on the fixed profit rate rebate computation proposed by BNM guidelines.

The results highlight the need for seeking another rebate computation to be applied in Islamic financial institutions in the case of mandatory bilateral rebate for sale-based financing contracts – a computation that differs from the practice utilized in conventional loans in order to avoid any usury implications associated with conventional finance computation.

The paper examines the rebate practice proposed by BNM for sale-based financing contracts. Forcing a predetermined rebate computation in sale-based financing contracts could be plausible as BNM requires; however, the suggested computation might be questionable because it resembles conventional finance computation.

Examines the impact of public policies on the entry of women into the workforce in Singapore, using force‐field analysis to study the counteracting forces created by the mixed policies which can either drive or restrain women from entering the job market. Suggests that although there has been an increase in Singapore’s female workforce participation rate in the last few decades, more measures could be devised to encourage more women to participate in the workforce.

Rebates are a form of sales promotions that have seen increased use over the past few years, with the difficulty in compliance increasing over time. To avoid fraudulent rebate claims, manufacturers have established such stringent rebate requirements that many consumers are unable to satisfy them and realize the rebate. The issue has become one of ethics in that manufacturers are aware of these difficulties, and are relieved of their obligation concerning the offer. This paper analyzes the actions of manufacturers according to the ethical framework put forth by Laczniak (1983) and makes recommendations for change if rebates are to enjoy continued use free of regulation. Further, the impact of rebate offers on the lower classes is explored. It is postulated that the less sophisticated shoppers will be more affected by the requirements of rebates and the difficulties associated with compliance than the better informed shopper.

The Howard Shuttering Contractors case throws considerable light on the importance which the tribunals attach to warnings before dismissing an employee. In this case the tribunal took great pains to interpret the intention of the parties to the different site agreements, and it came to the conclusion that the agreed procedure was not followed. One other matter, which must be particularly noted by employers, is that where a final warning is required, this final warning must be “a warning”, and not the actual dismissal. So that where, for example, three warnings are to be given, the third must be a “warning”. It is after the employee has misconducted himself thereafter that the employer may dismiss.

Knight's Industrial Law Reports goes into a new style and format as Managerial Law This issue of KILR is restyled Managerial Law and it now appears on a continuous updating basis rather than as a monthly routine affair.

The purpose of this study is to explore the variables that affect Muslim consumers’ perception towards tax rebate over zakat on income in Malaysia.

A close-ended structured questionnaire was developed and a total number of 236 valid responses were collected through online survey from the Muslims residing in Malaysia.

This study found that halal-haram aspect of Islamic Shariah, legal consciousness and religiosity of Muslim consumers are positive significant factors for growing perceptions towards tax rebate over zakat on income in Malaysia.

This study will definitely play an important leading role for the policy-makers and academicians in understanding the perceptions of Muslim consumers.

This study can assist zakat and tax authorities in Malaysia for taking corrective actions to adapt or improve the current policy on the basis of its Muslim consumers’ perception.

The findings of this study can reduce the gap of understanding among Muslims in the society by letting other people’s perceptions towards tax rebate through zakat system in Malaysia.

As there are not enough studies in this area, this study will definitely play an important leading role for the countries or policy-makers or concerned zakat or tax institutions all over the world in capitalizing the practices which is highly and positively perceived by the Muslim consumers in Malaysia.

In this paper the authors seek to develop a measure that can identify those customers who might best be described as rebate prone, and to link rebate proneness to behavioral usage of rebate offers, intentions to use rebate offers in the future, attitudes towards using rebates as a way to try new products, and finally, the tendency to complete the rebate transaction.

In study 1, college students enrolled in marketing classes at two large state universities were asked to complete a brief online survey regarding their attitudes towards rebates as a promotional tool as well as shopping behaviors and attitudes towards shopping. Study 2 replicated study 1 using a mall intercept approach.

Confirmatory factor analyses of the measure of rebate proneness demonstrated substantial psychometric validity and yielded acceptable levels of internal consistency. In both studies, rebate proneness was significantly and positively related to behavioral, intentional and attitudinal approaches to rebate usage. Rebate prone shoppers viewed rebates as a substantive incentive for trying new products.

These results are preliminary yet provide an important foundation to explore a measurable propensity towards product and brand specific rebate usage.

The promising theoretical framework of consumptive delay provides a managerial opportunity to segment consumers on the basis of measurable psychological and behavioral tendencies. Rebate usage is but one of a number of strategies that can create and or maintain brand loyalty. The ability to identify and provide incentives to incent rebate prone shoppers has widespread implications including the enhancement of the lifetime value of the customer.

Current US tax laws provide investors an incentive to time the sales of their bonds to minimize tax liability. This gives rise to a tax-timing option that affects bond value. In reality, corporate bond investors’ tax-timing strategy is complicated by risk of default. Existing term structure models have ignored the effect of the tax-timing option, and how much corporate bond value is due to the tax-timing option is unknown. In this chapter, we assess the effects of taxes and stochastic interest rates on the timing option value and equilibrium price of corporate bonds by considering discount and premium amortization, multiple trading dates, transaction costs, and changes in the level and volatility of interest rates. We find that the value of the tax-timing option accounts for a substantial proportion of corporate bond price even when interest rate volatility is low. Ignoring the timing option value results in overestimation of credit spread, and underestimation of default probability and the marginal investor’s income tax rate. These estimation biases generally increase with bond maturity and credit risk.