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Zakat has a strong humanitarian and social-political value. Zakat occupies a central role in Islamic fiscal policy and operations. At the same time, it does not preclude the use of modern tools and techniques in raising the state revenues. Islam provides its own comprehensive approach how the state can raise its revenue and how the revenue should be spend. Zakat is collected from those who are qualified and distributed to the eight recipients as identified in the Quran. Waqf instrument plays an important role in Muslim societies as its support the aged, the poor, the orphans through provision of education, training and business activities. The creation of waqf is strongly advocated, especially the creation of cash waqf in view of the expensiveness of land as waqf. There are collaboration efforts for cash waqf and zakat collection being done through Islamic banks and takaful. The paper aims to discuss these issues.

The data were source from the inland revenue, government agencies and state religious authorities, interviews, articles and conference reviews, as well as economic reports and later transcribe into charts and figures.

Its shows the efficiency of wealth distribution according to the Islamic principles and application of the financial inclusion in the Islamic society.

The limitation is in verifying the accuracy of data gathering from the government agencies.

The study can be used in financial inclusion through the application of zakah and waqf being applied to alleviate poverty.

The research is an extended work done on zakah and waqf in Islamic wealth distribution.

The purpose of this paper is to examine the determinants of bank margins in the Yemeni banking sector for Islamic and conventional banks. The first objective is to investigate whether there is a significant difference between the margins of conventional and Islamic banks. The second objective is to examine whether efficiency represents an influential factor in determining bank margins for Islamic and conventional banks controlling for other micro and macro variables.

Using a data set of banks in Yemen for the post-liberalisation period from 1996 to 2011, the study utilises panel data with unbalanced observations for 16 banks, of which four are Islamic banks and the remainder conventional banks. Parametric and non-parametric techniques are complemented by dummy variable regression using random effects. Panel fixed effects regression was also undertaken as a robustness check.

The paper finds that the overall bank margin in Yemen has steadily decreased during the observation period with the exception of the year 2011. The parametric and non-parametric results show that the bank margins are significantly higher for conventional banks than for Islamic banks. The results provide evidence that bank margins are related to neither types of efficiency, but are affected by capitalisation, size, the opportunity cost of the reserve and liquidity, although the impact is shaped differently for Islamic and conventional banks.

The paper provides a basis for regulators and bankers for assessing the viability of the banking sector and proposes policies to restructure the industry to enhance its performance.

This paper adds value to the literature for the Yemeni banking sector and extends the previous research on the determinants of bank margins by focusing on the impact of efficiency on bank margins. Also, it compares the Islamic banks with different types of conventional banks in Yemen in their margins trend.

The purpose of this paper is to examine the banking industry’s efficiency using the case of Yemen.

The paper utilises two-stage analysis to evaluate the efficiency adopting Data Envelopment Window Analysis (DEWA) in the first stage for the period 1996-2011. Furthermore, the paper addresses, in two-dimensional matrix, the stability and efficiency of the banking sector in order to assess their ability for survival. In the second stage, panel data analysis is applied to regress a set of bank-specific and macro-economic variables on the efficiency of the banking sector in Yemen in a comparative fashion between Islamic and conventional banks.

The findings of the investigation indicate that the Yemeni banking industry in general was on a declining efficiency’s trend with increased instability during the later period of the investigation. In addition, the study shows that most conventional banks were relatively stable, though inefficient, while Islamic banks were more efficient over the time. The results of panel data regression further suggest that efficiency is related to a number of determinants. Loan/financing, and profitability are the common key determinants of efficiency for both Islamic and conventional banks. However, other determinants have impacted differently for Islamic and conventional banks, which could reflect the uniqueness of their operation and structure.

The present study provides a basis for the regulators and bankers to assess the viability of the banking sector and proposes policies to restructure the industry in order to enhance the performance of the whole industry.

The paper presents new empirical findings on the efficiency of Islamic and conventional banks in Yemen.

This paper aims to examine the determinants that influence the customer’s adoption towards the use of family takaful scheme by extending diffusion theory of innovation (DOI) in the context of Pakistan.

The published work allied to takaful studies and DOI was reviewed. Total of 282 respondents who are non-users of family takaful product were used for the purpose of primary data collection through convenience sampling.

The customer’s adoption towards Islamic insurance is determined not only by perceived relative advantage and perceived compatibility but also by awareness and religious belief. Perceived complexity, on the contrary, turns out not to be a predictor of family takaful adoption. Further, gender, age and education do not moderate the family takaful adoption by the customers.

This research alike others have limitations in terms of sampling method used and only covers one city of Pakistan, namely, Karachi. Further studies need to be conducted in other cities as well with a large population.

Extended DOI is not used in the context of takaful in Pakistan as evident from scarce literature on the empirical studies. Therefore, the authors extend the DOI in the current work. Further, this paper will be a useful reference guide for the academicians, operators of takaful business and future researchers.

This study aims to investigate the customer’s willingness to participate in family takaful using the theory of interpersonal behaviour (TIB) in Pakistan.

For this study, purposive sampling was used, and 310 useable questionnaires were received from the respondents who were postgraduate students, non-users of family takaful. The respondents are residing in the largest city of Pakistan, which is Karachi. The software Analysis of Moments Structures (AMOS v.25) was used to analyse the data.

The findings of this study reveal that awareness, affect, facilitating conditions and religious obligation are pivotal in determining the customers’ intention to purchase family takaful products. In addition, perceived risk and social factors are found not to be significant predictors. Resultantly, it may also be necessary to look into the factors examined in this study and other factors that may have played a great role in the acceptance of family takaful in the case of Pakistan.

This study is limited in terms of geographic coverage as it only covers part of Karachi city as a place of investigation, and therefore, the results cannot be generalised fully. On the same note, the sampling method can also be broadened to have the actual number of respondents for generalisability purposes. Future studies may focus on the random sampling method using cluster sampling to cover other regions and provinces for a clear picture and understanding.

To the best of the authors’ knowledge, this work is one of the first studies to be carried out on empirical grounds using the TIB in the context of family takaful products in Pakistan.

The purpose of this study aims to examine the effect of fintech on pre- and post-financing credit risks faced by the Islamic banks.

This research uses primary data for fintech awareness and adoption and secondary data of various financial and economic variables from 2009 to 2021. It uses baseline regression to identify moderation of fintech controlling gross domestic products, size, return on assets and leverage. The findings are confirmed using robustness against key variable bias. It also uses a dynamic panel two-stage generalized method of moments for endogeneity.

The study finds that the fintech awareness and adoption are not the same across all Islamic countries. The Asia Pacific region is far ahead of the other two regions where Indonesia is ahead in terms of fintech awareness and adoption, and Malaysia is ahead in terms of reaping its benefits in credit risk management. Fintech affects prefinancing credit risk significantly more than postfinancing credit risk. Also, the study finds that Islamic banks suffer from the problem of “Adverse selection under Shariah compliance.”

This research invites regulators to introduce fintech in Islamic banks on war footing. Similar studies can be conducted on the role of other risks such as operational and market risks. Fintech will also help in improving the risk profile and stability of Islamic banks against systemic risks and financial crises.

This research has variety of originalities. First, it is the pioneering study that addresses the effect of fintech pre- and post-financing credit risks in Islamic banks. Second, it identifies “Adverse selection under Shariah compliance” for Islamic banks. Third, it helps identify how fintech can be useful in reducing credit risk that will help in reducing capital charge for regulatory capital.

This paper aims to examine the determinants that influence acceptance towards e-wallet apps by extending the technology acceptance model (TAM) among (asnaf), a term used for charity or gift receivers from alms tax distribution institutions also known as donee.

The review of literature and structural equation modelling approach using judgemental sampling on extended TAM and determinants of e-wallet apps’ acceptance related to asnaf (donee) were conducted in a bid to contribute to the factors that are instrumental in determining acceptance of e-wallet services among asnaf.

The findings indicate that the e-wallet app’s service acceptance is determined not only by perceived usefulness, consumer maqasid index and consumer innovativeness but also by subjective norms. On the contrary, consumer maqasid index and perceived ease of use do not lend themselves to be the factor of asnafs’ e-wallet acceptance. The authors extend the TAM model to determine the factors that may be influential in predicting the e-wallet app acceptance by asnaf.

In assessing future outcomes when different sampling techniques are opted for and geographic coverage is expanded, this study should be considered in terms of the limited scope.

This study is intended to serve as a reference for making a significant contribution related to user acceptance factors related to alms tax-based e-wallet apps in asnafs’ context in Malaysia in terms of both theory and practice.

TAM is extended in the context of e-wallet app acceptance among asnafs’. A variable, namely, consumer innovativeness, is tested using the extended TAM model. To the best of the authors’ knowledge, consumer innovativeness in the context of asnafs’ acceptance of e-wallet apps is yet to be tested. Therefore, this paper will be a useful reference for policymakers, technologists, academicians and future researchers.

This study aims to examine the links between company performance (CP) and supply chain (SC) orientation considering halal small and medium-sized enterprises (SMEs) in Kazakhstan. The SC orientation framework integrates three aspects to determine CP, i.e. credibility, commitment and top management support.

Halal SMEs were reviewed; 271 valid responses were obtained and scrutinised, employing the partial least squares structural equation modelling technique.

The credibility of SC stakeholders performs the main impact on the CP of halal SMEs in Kazakhstan. Meanwhile, commitment and top management support show fewer influences, although they significantly impact CP.

This study confirms the relationships between SC orientation and CP from the perspective of halal SMEs. The social capital theory was applied to explain these relationships. It is the initial attempt to investigate such relationships in a post-Soviet Union country.

This study aims to investigate the comparative importance of factors influencing the customer shift behavior from conventional to Islamic banking for consumer finance in Pakistan.

First, a comprehensive analysis of the existing literature was conducted to identify a broad range of factors related to customer shift behavior. Through an expert sampling, 14 essential factors were chosen for further investigation. Second, a questionnaire was developed using the analytical hierarchy process (AHP). This questionnaire was then distributed among customers who had previously been using conventional banking services but had made a shift toward Islamic banking. The purpose of this questionnaire was to gather data and insights regarding their motivations and decision-making process behind the shift, and a sample 215 customers are taken in the study.

The results of AHP depicts that the religiosity is a most important factor influencing customers to shift from conventional to Islamic banking, and the second most important factor is pricing. The other subsequent important factors are reputation of the bank, marketing and promotion, service quality, behavior of banks staff, Shariah compliance, management, convenience, fastness and charges/fees. Whereas documentation, ambiance and recommendation are found least important factors to patronize Islamic banking.

The study recommends Islamic banks to create awareness, concentrating on religious factor to have a greater impact on growth of Islamic banking and shrinking of conventional banking. Further, it suggests Islamic banks to apply Shariah-recommended approach of doing business, to help community in best possible way and to launch differentiated marketing techniques to attract customers. It also proposes regulatory authorities to provide facilitation to Islamic banking business by providing level playing field similar to conventional banking, tax equality and conversion of public financing from conventional banking to Islamic banking.

The originality of this study lies in its comprehensive analysis of factors influencing consumer shift behavior from conventional to Islamic banking in the context of consumer finance in Pakistan. By using the AHP, the study provides a structured approach to understanding the relative importance of these factors. This is the uniqueness of the paper that it applies the AHP for the analysis. Furthermore, the study offers practical implications for Islamic banks and regulatory authorities to effectively address and capitalize on this consumer shift trend.

This paper aims to examine existing literature on halal food consumption from the perspective of consumer behaviour research. It identifies progress, current state and gaps and provides direction for future research to advance the field.

This paper reviewed papers from 2007 to 2023 using Scopus and WOS databases. The review used the Theories–Context–Characteristics–Methods (TCCM) framework and followed the scientific procedures and rationales for systematic literature reviews (SPAR-4-SLR) protocol.

The review summarises the methods, theory and approaches used in the topic and presents key findings and a proposed framework. It can guide future researchers in developing their models, making it a valuable starting point for future research. Despite the existence of SRL in halal food to the best of the authors’ knowledge, this work is the first review that proposes a model for halal food in consumer behaviour.

This review provides a twofold contribution. First, this review's theoretical contribution is advancing consumer behaviour literature on halal food. Second, this work's practical contribution is to enrich practitioners' understanding of the antecedents of consumer behaviour regarding halal food. This is the first review proposing a consumer behaviour model for Halal food. It makes a theoretical contribution to understanding consumer behaviour on Halal food and provides practical insights for practitioners.