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Content available
Book part
Publication date: 16 June 2021

Abstract

Details

Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview
Type: Book
ISBN: 978-1-80043-786-9

Content available
Book part
Publication date: 16 June 2021

Abstract

Details

Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview
Type: Book
ISBN: 978-1-80043-786-9

Open Access
Article
Publication date: 22 August 2023

Kausar Yasmeen

The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses…

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Abstract

Purpose

The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses the Islamic perspectives on minimum wage and examines contemporary challenges and intricacies in its application.

Design/methodology/approach

This study uses thematic analysis to create the conceptual framework, drawing upon a review of pertinent literature such as academic papers, books and articles published up to 2023.

Findings

The framework encompasses various categories, namely, employee characteristics, job characteristics, market factors, compensation practices and Islamic principles. Each category consists of multiple variables. The resulting framework offers a holistic and ethically grounded methodology for wage determination, aligning with both Islamic and conventional perspectives. This study notes the absence of a universally agreed-upon minimum wage. Islamic economics faces challenges due to the unclear application of principles, limited awareness, legal constraints and a lack of empirical evidence on wage systems, along with complexities in their implementation.

Research limitations/implications

The paper’s limited scope focuses solely on the Islamic perspective on wage determination, without comparing it to the conventional viewpoint. This may have implications for future research.

Practical implications

The insights on Islamic principles and wage determination guide scholars and policymakers interested in promoting just and equitable wages.

Originality/value

This study is distinct in its integration of various factors to propose an all-encompassing framework for wage determination, rooted in the Quran and principles, while also reinforcing the framework with conventional theories. Additionally, it adds to the growing body of literature by investigating the Quran’s stance and principles on minimum wage, as well as discusses the challenges involved in implementing an Islamic approach to wage determination, which has received limited attention in Islamic literature.

Details

Islamic Economic Studies, vol. 31 no. 1/2
Type: Research Article
ISSN: 1319-1616

Keywords

Open Access
Article
Publication date: 5 April 2021

Oscar Dousin and Rini Suryati Sulong

In the study of expatriation and expatriate adaptation, there are limited studies that focus on issues faced by expatriates working in foreign countries with very distinct…

7305

Abstract

Purpose

In the study of expatriation and expatriate adaptation, there are limited studies that focus on issues faced by expatriates working in foreign countries with very distinct cultures. This study aims to explore this idea through the experiences of western expatriates working in the Kingdom of Saudi Arabia (KSA). Two research questions were posed to examine the cross-cultural issues and challenges faced by expatriates in the KSA, as well as the role of cross-cultural training in expatriate adjustment.

Design/methodology/approach

The study was guided by an interpretivism paradigm through a qualitative method by using a semi-structured in-depth interview approach. Interviews were conducted among 12 expatriates from the USA and UK who are currently working in KSA.

Findings

A coding technique and theoretical thematic analysis was conducted to analyze the data. The results of this study highlighted three key themes that had a considerable influence on expatriates’ adjustment, in particular: culture shock, lack of pre-departure training and the demand for an extensive cross-cultural training.

Research limitations/implications

It is acknowledged that the existence of sub-cultures within the KSA would expose the respondents to varying cultural values within the community. Thus, future studies within a similar context should consider the influence of intra-cultural variations.

Originality/value

The findings of the study emphasized on the importance understanding the cultural gap between home and host country and the individual cultural awareness of the expatriate. It calls attention to the need for a tailored and extensive pre-departure, cross-cultural training and a collaborative effort between employees’ and managers to improve expatriates’ motivation and retention.

Details

Rajagiri Management Journal, vol. 16 no. 2
Type: Research Article
ISSN: 0972-9968

Keywords

Open Access
Article
Publication date: 21 September 2022

Murniati Mukhlisin, Nurizal Ismail and Reza Jamilah Fikri

This study aims to analyse whether theories and views of classical Islamic scholars are widely adopted as references in Islamic accounting and finance (IAF), Islamic economics…

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Abstract

Purpose

This study aims to analyse whether theories and views of classical Islamic scholars are widely adopted as references in Islamic accounting and finance (IAF), Islamic economics (IE) and Islamic business management (IBM) research studies as part of their contribution to solving current economic and financial problems.

Design/methodology/approach

The research adopts a qualitative meta-analysis methodology using NVivo 12 with selected data from 474 international journal articles published between 1981 and 2021. The study considers 172 IAF articles, 111 IE articles and 191 IBM articles.

Findings

The results of the study show that the use of theories and views of classical Islamic scholars is not widespread among the examined research papers. The findings show that 90% of researchers tend to acquire modern economics, management, psychological and sociological theories instead of classical theories. Both modern and classical theories have been discussed in the studied articles namely agency theory, stakeholders' theory, ḥisbah (accountability), maqāṣid al-Sharīʿah (objectives of Islamic law) and waʿd (unilateral promise). The gaps prevail not only in the taxonomy of terms but also in the choice of paradigm references. It is found that 66% of the 474 journal articles adopt a positivist paradigm, followed by interpretivism (19%), post-structuralism (9%) and critical orientation (6%).

Research limitations/implications

This paper considers only ABS ranking journal articles. Future research may consider other journal articles from different ranking groups such as Scopus or Thomson & Reuters.

Practical implications

The paper sheds light on how Islamic educational institutions can develop strategies for the Integration of Knowledge (IOK) in their curriculum.

Social implications

This paper helps to shape the Muslims' way of thinking within an Islamic worldview which will lead to an Islamic way of expressing knowledge, skill and behaviour.

Originality/value

This paper contributes to the model of IOK that has been deliberated among Islamic universities, especially those that develop IAF, IE and IBM studies.

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 3
Type: Research Article
ISSN: 0128-1976

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

Open Access
Article
Publication date: 17 July 2023

Kanza Abid, Zafar Iqbal Shams, Muhammad Suleman Tahir and Arif Zubair

The presence of heavy metals in milk causes many acute and chronic physiological dysfunctions in human organs. The present study aims to investigate the heavy metals in cow's and…

1038

Abstract

Purpose

The presence of heavy metals in milk causes many acute and chronic physiological dysfunctions in human organs. The present study aims to investigate the heavy metals in cow's and buffalo's milk of two major cities, Karachi and Gujranwala, Pakistan to estimate metal intake by humans from this source.

Design/methodology/approach

In total, 48 milk samples from 2 cities were drawn from animals' udder to avoid contamination. Each sample was digested with nitric acid at 105 oC (degree Celsius) on a pre-heated electric hot plate to investigate the metals by atomic absorption spectroscopy (flame type). Air-acetylene technique analyzed chromium, cadmium and lead, and the hydride method analyzed arsenic in the milk samples.

Findings

The results revealed the highest mean lead concentration (19.65 ± 43.86 ppb) in the milk samples, followed by chromium (2.10 ± 2.33 ppb) and arsenic (0.48 ± 0.73 ppb). Cadmium was not detected in any sample, assuming cadmium's occurrence was below the detection level. The concentrations of all the metals in the samples of the two cities do not differ statistically. Lead concentrations in the buffalo's milk were higher than in cow's milk (p < 0.05). However, the concentrations of arsenic and chromium between buffalo's and cow's milk do not differ statistically. The present study reveals a lower level of metals in the milk than those conducted elsewhere. The mean concentrations of all the metals met the World Health Organization's (WHO) safety guidelines (1993).

Research limitations/implications

Although cadmium causes toxicity in the human body, cadmium could not be measured because cadmium's concentration was below the detection level, which is 1 ppb.

Practical implications

This study will help reduce the toxic metals in our environment, and the sources of heavy metals, particularly from the industrial sector could be identified. The feed and water consumed by the milking animals could be carefully used for feeding them.

Social implications

This study will help reduce the diseases and malfunction of human organs and organ systems since these heavy metals cause toxicity and carcinogenicity in humans. Arsenic and chromium cause cancer while lead causes encephalopathy (a brain disease).

Originality/value

The study reports heavy metal concentrations in the two attributes of four independent variables of raw milk samples that were scarcely reported from Pakistan.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

Open Access
Article
Publication date: 7 June 2021

Azniza Hartini Azrai Azaimi Ambrose and Fadhilah Abdullah Asuhaimi

The purpose of this paper is to comprehensively discuss the issue of risk vis-à-vis the perpetuity restriction principle inherent in waqf (Islamic endowment). Specifically, it…

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Abstract

Purpose

The purpose of this paper is to comprehensively discuss the issue of risk vis-à-vis the perpetuity restriction principle inherent in waqf (Islamic endowment). Specifically, it attempts to consolidate the axioms in both conventional and Islamic finance, such as the risk-return trade-off and al-ghunm bi al-ghurm (liability accompanies gain), with the perpetual nature of waqf. Overall, this paper attempts to find a resolution to the dilemma of perpetuity restriction inherent in cash waqf against the natural occurrence of the risk.

Design/methodology/approach

This paper is based on the secondary research methodology; past literature encompassing journal articles, books, relevant financial axioms, fatwas (Islamic rulings) and state enactments is critically reviewed to present its case. In regard to state enactments, only Malaysian state enactments have been used, thus restricting the study to the Malaysian case only.

Findings

This study contends that the dilemma of the perpetuity restriction and the natural occurrence of risk can be resolved through the integration of waqf risk management, especially concerning cash waqf, with the Islamic spiritual approach. By implementing standard operating procedures that inculcate awareness on waqf risk management and Islamic spirituality in waqf stakeholders (wāqif (donor), trustee and beneficiaries), the stakeholders may accept the reality of risk that is inevitable even after all efforts have been exhausted. In other words, the violation of perpetuity is exonerated given that mental faculties aligned with revealed texts have been exhaustively used beforehand.

Practical implications

Findings from this study may broaden the choice of investment avenues for waqf trustees while adhering to the perpetual restriction of waqf. More importantly, waqf trustees will not be forced to invest in interest-bearing securities or be involved in any usurious transactions just to obtain guaranteed returns and preserve the corpus of waqf.

Originality/value

This study offers a unique perspective on cash waqf risk management by re-analyzing the axioms and concepts of finance and waqf while observing the welfare of the beneficiaries.

Details

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

Keywords

Open Access
Article
Publication date: 15 June 2021

Norazlina Abd. Wahab, Selamah Maamor, Zairy Zainol, Suraiya Hashim and Kamarul Azman Mustapha Kamal

This paper aims to develop the best practices of Islamic estate planning for Muslims. Islamic estate planning is a fixed proposal for the management and outlook of an individual’s…

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Abstract

Purpose

This paper aims to develop the best practices of Islamic estate planning for Muslims. Islamic estate planning is a fixed proposal for the management and outlook of an individual’s assets throughout their life and upon their passing, created by means of existing Islamic estate planning tools, for instance, farāʾiḍ (inheritance), waṣiyyah (will), hibah (gift) and waqf (endowment).

Design/methodology/approach

The paper used an interview method to obtain information on the best practices of Islamic estate planning. Semi-structured interviews were conducted with the respondents and estate planning providers in the northern region of Peninsular Malaysia. The data gathered was analysed using thematic analysis which involved five phases to construct the best practices of Islamic estate planning.

Findings

The paper identifies important elements in Islamic estate planning. The elements were outlined as the crucial things that Muslims should do to plan for intergenerational transfer and earning a good share in the hereafter.

Research limitations/implications

The first limitation of the paper is that the best practices were developed based on a qualitative method. There is no evidence of its validity, which is a gap that can be explored in the future. Second, it involves the perceptions of two types of respondents (individuals and Islamic estate planning providers), which may be broadened to other related stakeholders such as regulators, in future studies.

Originality/value

This paper presents a framework of best practices of Islamic estate planning, it being one of the first studies to do so, which is not only useful and relevant for Malaysian Muslims but also for Muslims in other countries.

Details

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

Keywords

Content available
Book part
Publication date: 6 November 2023

Abstract

Details

Higher Education in Emergencies: International Case Studies
Type: Book
ISBN: 978-1-83797-345-3

1 – 10 of 52