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This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.

A bibliometric analysis was applied based on selected publications from the Web of Science Core Collection (WoSCC) database from 2000 to 2021. The study adopted VOSviewer software which was developed by Leiden University.

This study has some implications that need urgent action. Firstly, there are some areas that have received little attention among researchers, although they are relevant to the industry, for instance, in fintech and blockchain in ICM. Secondly, the inconsistent frequency of publications in some niche areas may suggest that there are unprecedented events that hinder further research; probably, the researcher may anticipate more information and progress in the industry. Thirdly, the need to strengthen the collaboration between industry and academia to advance research.

This study considered only the WoSCC database. The provider of WoSCC is Clarivate (formerly known as Thomson Reuters), where access to publications is limited to institutional subscribers. The implications of this study are to identify and propose future research trends in the field of ICM.

To the best of the authors’ knowledge, the present study is among the pioneer studies in analysing bibliometric focusing on ICM. Previous research has focused on Islamic finance and banking, and not specifically on ICM. Accordingly, this study sheds light on research gaps in ICM.

The purpose of this study is to present an analysis of the Islamic good governance concept and means known as Al-Siyasah Al-Syar’iyyah as a principle and approach for combating corruption. This literature review aims to synthesize extant literature that discusses the determinants of integrity and how to prevent and combat corruption based on the Al-Siyasah Al-Syar’iyyah perspective.

A systematic search was conducted on a literature review based on Scopus and referred journals from Google Scholar databases. A manual search on Google Scholar was performed to identify additional relevant studies. Studies were selected based on the predetermined criteria. They were thematically examined using content analysis.

The study found that most of the 45 works of the literature, (41 studies and four chapters) suggested that corruption should be considered a sin and that education of Al-Siyasah Al-Syar’iyyah’s perspective against corruption, emphasizing the principle of piety, the institutionalization of justice and accountability, good governance performance with an emphasis on its belief in self-accountability and justice, is the means to combat corruption.

This study is unique in that it focuses on locating material on battling corruption from the standpoint of Al-Siyasah Al-Syar’iyyah. Based on the al-Quran, the Sunnah and the best practices of Muslim rulership, this notion provides an epistemological, ethical and ontological stance in Islam.

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this study is to develop a performance measurement model based on Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms.

A mixed-method research approach was adopted to conduct the present study. Priorities were assigned to various dimensions of the Maqāṣid model using analytic hierarchy process and by taking inputs from 18 Takāful experts. On the contrary, six experts were involved in identifying the elements and measures for the operationalization of the Maqāṣid dimensions.

Maṣlaḥa (0.359) was found to possess the highest priority, followed by Justice (0.345) and Educating Individuals (0.295). Furthermore, under Necessity, protection of religion (0.398) and protection of life (0.388) are assigned almost similar priorities. These two are followed by the protection of progeny (0.107), protection of wealth (0.058) and protection of intellect (0.047). The final outcome of this study is a hierarchical model for the evaluation of performance of Takāful firms.

The application of the performance evaluation model will provide information to the management of Takāful firms on where they stand in terms of fulfilling Maqāṣid al-Sharī’ah principles. If any firms are found to have a deficiency in a certain part of Maqāṣid components, then proper and adequate measures can be taken to ameliorate the situation.

It is necessary to have a performance evaluation model based upon Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms as these firms operate on the principles of Maqāṣid al-Sharī’ah. Because there does not exist any such model, this study fills up this gap. Details of the measures that can be used to evaluate the performance of Takāful firms are also provided.

The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare and, secondly, whether productivity can be a mediator to improve Islamic welfare.

This study involved quantitative research using data obtained from a survey. The respondents were 538 Muslim families in East Java, Indonesia. Structural equation modelling was used for the analysis.

This study tested 13 hypotheses, of which 10 were accepted. The accepted hypotheses refer to the effects of financial literacy on productivity, financial inclusion on productivity, financial planning on productivity, financial planning on Islamic welfare, education on Islamic welfare, productivity on Islamic welfare, financial literacy and productivity on Islamic welfare, financial inclusion and productivity on Islamic welfare and financial planning and productivity on Islamic welfare, as well as the effects of financial inclusion on Islamic welfare. Meanwhile, three hypotheses were not accepted; they refer to the effects of financial literacy on Islamic welfare, the effect of education on productivity, as well as the impact of education and productivity on Islamic welfare.

The study was conducted only with respondents living in East Java, so the results depict the condition of Muslim families’ welfare in East Java.

Research into the antecedents of Islamic welfare has received little academic attention, so this study explores how education, financial inclusion, financial literacy, financial planning and productivity could affect Islamic welfare among Muslim families.

This study aims to examine how sharia supervisory board (SSB) characteristics are determinants of the maqashid sharia performance (MSP) of Islamic banks (IBs) and how MSP has implications for profitability and for profit-sharing investment account holders (PSIAHs).

MSP is ascertained by semi-structured interviews. The SSB characteristics measured are size, cross-membership, education level, expertise, reputation, rotation and remuneration. Annual reports of Indonesian and Malaysian IBs from 2010 to 2018 are analysed using panel data regression.

In Indonesia, SSB education level attenuates MSP, while other characteristics have only minor influence. However, in Malaysia, SSB size, education and reputation reinforce MSP, while others are ineffective. MSP in both countries is pseudo-Islamic; so their customers ignore religiosity. However, MSP in Malaysia can improve profitability because sharia assurance is more transparent; meanwhile, MSP in Indonesia cannot improve profitability because sharia assurance is less transparent.

In order for MSP to improve in Indonesia, the regulators need to increase SSB size, reduce cross-membership and arrange the format for sharia assurance in SSB reports, while IBs need to increase SSB education and expertise.

MSP is constructed in accordance with legal and social requirements to achieve IBs’ Islamic, economic, social and ethical objectives. Resource dependence theory is used to evaluate SSB, while PSIAH and profitability are investigated to demonstrate the impact of MSP. Finally, comparing SSB capabilities in Indonesia and Malaysia could be beneficial to regulatory and IB policies.

This review paper, using a systematic literature review (SLR) approach, aims to unravel the various system-wide waste in the construction industry and highlight the connectivity to construction phases, namely men, materials, machines, methods and measurement (5M) and impacting factors.

This study used an SLR approach and examined articles published since the 2000s to explore the connectivity of system-wide waste to construction phases, 5M and impacting factors. The results are given in table forms and a causal loop diagram.

Results show that the construction and demolition (CD) waste research carried out from various perspectives is standalone. The review identified ten types of system-wide waste with strong interlinks in the construction industry. The finding highlights connectivity between wastes other than material, labour and time and the wastes' impacting factors. Further, the review results highlighted the solid connectivity for construction phases, 5M, and impacting factors such as productivity (P), delay (D), accidents (A), resource utilisation (R) and cost(C).

SLR methodology limitations include not keeping in phase with the most updated field knowledge. This limitation is offset by choosing the range for literature review within the last two decades. This literature review may not have captured all published articles because the restriction of database access and search was based only on English. Also, fruitful articles hiding in less popular journals may not be included in the well-known database that was searched. Researcher bias of the authors and other researchers that authored the articles referred to is a limitation. These limitations are acknowledged.

This article unravels the construction system-wide waste and the waste's interlinks, which would aid industry understanding and focus on eliminating the waste. The article highlights the connectivity of system-wide wastes to 5M, which would help better understand the causes of the waste. Further, the paper discusses the connectivity of system-wide waste, 5M and P, D, A, R and C that would aid the organisation's overall performance. The practical and theoretical implications include a better understanding of waste types to help capture better data for waste reduction and productivity improvement. The operating managers could use the tracking of wastes to compare estimated and actual resources at every process stage. This article on system-wide waste, 5M and P, D, A, R and C, relationships and their effects can theorize that the construction industry is more likely to identify clear root causes of waste now than previously. The theoretical implications include enhanced understanding for academics on connectivity between waste, 5M and P, D, A, R and C that the academics can use and expand to provide new insights to existing knowledge.

For the first time, this article categorised and highlighted the ten types of waste in construction industries and the industries' connectivity to construction phases, 5M and impacting factors.

Explaining the sources of the differences in social performance among Islamic banks (IBs) is the motivation for this research. Consequently, the purpose of this paper is to investigate the relationship between the development of Islamic finance regulation, the development of an Islamic financial system, the proportions of affected Muslim populations and the level of competition, on the one hand, and the social performance of IBs, on the other. To the best of the authors' knowledge, this is the first study that investigates the impact of the development of regulation and the Islamic financial system on the social performance of IBs.

A balanced panel of annual data for 40 banks from 13 countries is applied, spanning 2012–2018. A social performance index with eight dimensions is constructed and measures the social performance of IBs. The index based on qualitative and quantitative data derives from IBs’ annual reports and financial statements. The linear scaling transformation method articulates the quantitative dimensions of the index. In hypotheses testing, the authors use OLS, LSDV, FEM and Random Effect Model to estimate Model (1) and panel-corrected standard errors with Prais–Winsten transformation to estimate Model (2).

This unique research confirms the positive impact of the development of Islamic finance regulation on the social performance of IBs. The results show that the development of Islamic finance regulation is consistently significant on all standard significance levels. IBs’ age and the presence of Muslim populations in the country are also significant in most estimators.

The results of this research highlight a significant value for regulators, shareholders and the management of IBs. Without proper regulation, these banks can hardly operate under the principles and expectations of the Islamic moral economy.

This is pioneering research that explores the development of Islamic finance regulation and market concentration as a determinant of social performance of IBs. Development of Islamic finance regulation has proved significant in all estimated models, which confirms that a new variable has been discovered among determinants of the social performance of IBs.