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Article
Publication date: 25 April 2024

Lukman Hamdani, Sunarsih Sunarsih, Rizaldi Yusfiarto, Achmad Rizal and Annes Nisrina Khoirunnisa

This study aims to elaborate on the antecedents of muzakki (zakat payers) paying zakat (Islamic philanthropy) through institutions with social media arrangements, while the…

Abstract

Purpose

This study aims to elaborate on the antecedents of muzakki (zakat payers) paying zakat (Islamic philanthropy) through institutions with social media arrangements, while the drivers of social media engagement are used in the conceptual model with trust and intention.

Design/methodology/approach

Overall, the final sample of 230 respondents was obtained through the database of official zakat management institutions. Regarding analytical tools, this study combines the partial least square structural equation modelling and necessary condition analysis approaches to explore research findings.

Findings

The findings show that firm-generated information and trust play an important role directly and indirectly. At the same time, other constructions, such as social factors and user-based factors, provide variations in necessary conditions to increase the muzakki’s intention to channel their zakat through institutions.

Practical implications

Zakat institutions must focus on improving social media-based services by integrating important information, such as credibility and transparency, with muzakki’s preferences. Additionally, zakat information on social media must be attractively packaged and contain facilities that muzakki can use in communicating, such as; their opinions, suggestions and input. The findings, in general, underscore the attachment between muzakki and zakat institutions through social media, which can significantly impact the positive environment of zakat institutions.

Originality/value

To the author’s knowledge, this study is pioneering in conceptualizing and testing a theoretical model linking drivers of social media engagement, trust and intention to pay zakat through the institution, particularly in the levels of necessity.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 10 May 2023

Sri Herianingrum, Indri Supriani, Raditya Sukmana, Effendie Effendie, Tika Widiastuti, Qudsi Fauzi and Atina Shofawati

This study aims to analyze the concept of Zakat as an instrument to increase the economy and poverty eradication in Indonesia.

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Abstract

Purpose

This study aims to analyze the concept of Zakat as an instrument to increase the economy and poverty eradication in Indonesia.

Design/methodology/approach

This study used a qualitative method based on library research sourced from books, financial reports and another previous research.

Findings

The results show that the empowerment programs conducted by Zakat institutions in Indonesia are based on the scale of priorities and the potential of Mustahik. Zakat management considers the level of productivity and long-term impacts that improve Mustahik Economy. Thus, the empowerment programs lead to the reduction of Mustahik living below poverty line.

Research limitations/implications

This study contributes in two ways: first, it analyzes a model to identify the Mustahik’s potential for the Zakat institution in Indonesia. Second, it encourages the awareness of Muzakki and Mustahik regarding the role of Zakat in the Indonesian economy. This is expected to prompt their level of participation in optimizing the potential of Zakat in Indonesia.

Originality/value

Given the scarce literature that provide qualitative and critical reviews of the implementation Zakat empowerment programs to alleviate poverty conducted by the Zakat institutions in Indonesia, this research can act as a bridge for future research in performing empirical studies regarding the impact of a Zakat empowerment program on society.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 24 January 2023

Mohammad Shahid, Yasin Ahmed Sulub, Mohammed Meeran Jasir Mohtesham and Mohammad Abdullah

This study aims to explore commonalities and differences between Islamic social finance (ISF) and sustainable development goals (SDGs).

Abstract

Purpose

This study aims to explore commonalities and differences between Islamic social finance (ISF) and sustainable development goals (SDGs).

Design/methodology/approach

The study has adopted a qualitative library-based research method, and the secondary data is collected through the available literature on the topic.

Findings

This study concludes that the majority of SDGs are compatible with ISF. Moreover, it finds that the global ISF possesses adequate financial resources to assist Muslim majority nations in achieving some of the most critical and urgent SDGs on time.

Research limitations/implications

The scope of this study is confined to examining the possible role of ISF in achieving many of the most pressing development goals aligned with the SDGs. To maintain coherence within the study’s focus, this paper makes no comparisons between the ISF and other types of endowments/charities.

Practical implications

This paper outlines an agenda for the ISF-led development strategy and makes some crucial recommendations on how the global ISF might potentially lead the charge of Islamic charities in achieving the SDGs in Muslim majority nations.

Originality/value

This paper adds original value to the available literature on the potential of ISF and SDGs in the arena of development. The paper analyses the role of ISF in achieving the SDGs.

Details

International Journal of Ethics and Systems, vol. 40 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 13 February 2023

Adam Salifu and Abass Umar Abdul-Karim

While the causes and effects of begging are well known, solutions on how to eradicate begging are still elusive in many parts of the developing world. The purpose of this study is…

Abstract

Purpose

While the causes and effects of begging are well known, solutions on how to eradicate begging are still elusive in many parts of the developing world. The purpose of this study is to examine the different ways through which community leaders at the local level can contribute to the eradication of begging in one of Ghana’s most densely populated suburbs in the city of Accra.

Design/methodology/approach

This study was undertaken using the qualitative approach, and primary data was collected through interviews, participants observation and focus group discussions with beggars, community leaders and officials of non-governmental organisations at Nima, a suburb of Accra.

Findings

Begging in the suburb of Nima is increasingly becoming a business venture. It is no more an activity that is the preserve of only the weak, the poor, the elderly, the physically challenged, the needy and the marginalised in society. This paper argues that the eradication of begging requires multiple approaches and that community-based leaders must play a central role. This paper identified the provision of alternative sources of livelihood, the naming, shaming and condemnation of unjustified begging in the community, strict boarder control, returning foreign beggars to their home countries, the formulation and enforcement of community anti-begging by-laws and regular sensitisation programs on begging as crucial in reducing or eliminating begging.

Research limitations/implications

While focusing on one Muslim-dominated suburb in Accra ensures a detailed discussion of strategies of eliminating begging from a cultural and religious perspective, the findings of this study may not be applicable to non-Islamic settings and communities where cultural or religious leadership structures do not exist.

Practical implications

This study has demonstrated that the eradication of begging in society cannot have one-size-fit all solution. This paper shows that in societies where cultural and religious leadership structures exist, they must play important roles in the design and implementation of strategies that seek to reduce or eliminate religious begging in society. This implies that formal government agencies and their associated laws alone will not be enough to eradicate or reduce begging under such contexts.

Originality/value

Measures to eradicate begging have often ignored the role of community leaders. This paper contributes to our understanding on this by specifically examining the phenomenon of begging at the micro level and exploring the different ways community leaders can contribute to the eradication of begging in society.

Details

International Journal of Ethics and Systems, vol. 40 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Book part
Publication date: 6 May 2024

Ahmed Hassanein and Hana Tharwat

This chapter explores the concept of corporate social responsibility (CSR) from an Islamic Shari'ah-compliant perspective. It provides a comprehensive literature review on CSR…

Abstract

This chapter explores the concept of corporate social responsibility (CSR) from an Islamic Shari'ah-compliant perspective. It provides a comprehensive literature review on CSR with an explicit focus on the Islamic perspective of CSR, Islamic models of CSR, CSR practices in conventional and Islamic banks, and the consequences of CSR to Islamic banks. This chapter's main contribution lies in considering the current CSR literature from a Shari'ah perspective. Likewise, it identifies gaps in the current literature and suggests potential areas for future research. This chapter attempts to improve the understanding of how Islamic banks integrate social responsibility into their operations. The insights from this chapter are helpful to practitioners and academic scholars in Islamic finance, accounting, and CSR. This chapter emphasizes the importance of incorporating Islamic values and principles into CSR practices and encourages further research and investigation in this area.

Details

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
Type: Book
ISBN: 978-1-80455-406-7

Keywords

Article
Publication date: 7 September 2023

Muhammad Shahrul Ifwat Ishak and Nur Syahirah Mohammad Nasir

The purpose of this study is to analyse potential models of Islamic crowdfunding as an alternative financing option for micro-entrepreneurs in Malaysia. While crowdfunding has…

Abstract

Purpose

The purpose of this study is to analyse potential models of Islamic crowdfunding as an alternative financing option for micro-entrepreneurs in Malaysia. While crowdfunding has gained traction as an alternative funding source for businesses, it is unclear how far this concept can benefit a group of micro-entrepreneurs in Malaysia.

Design/methodology/approach

This study uses a qualitative research approach by using data collected through semi-structured interviews with several experts and practitioners in crowdfunding, Shariah and entrepreneurship. Prior to discussing the facets of the findings, the data were analysed based on a thematic approach.

Findings

The findings reveal that while previous works of related literature suggest crowdfunding as a viable alternative financing option for entrepreneurs and their businesses, in reality, its practical implementation presents challenges. Numerous micro-entrepreneurs need more training in the areas of management and marketing. Such concerns raise questions about their ability to attract potential project backers. With the proper selection of Shariah contracts and several approaches to risk management, Islamic crowdfunding can potentially become an alternative funding source for microbusinesses.

Research limitations/implications

Given the exploratory nature of this study regarding the applicability of Islamic crowdfunding as an alternative fund for micro-entrepreneurs, its findings may not fully encompass Malaysia’s context because of the limited number of participants involved.

Practical implications

The findings of this study offer guidelines on how to implement Islamic crowdfunding for micro-entrepreneurs. Consequently, Islamic crowdfunding has the potential to alleviate the government’s burden of providing funds for micro-enterprises and enhance their skills and mentality to be more independent, creative and able to promote their products.

Social implications

While Islamic crowdfunding can be an alternative opportunity for business enterprises and community-based projects, it promotes the spirit of cooperation and collaboration within society.

Originality/value

Although Islamic crowdfunding is a topic that has been discussed previously, empirical investigations in this area remain scarce, mainly through qualitative approaches. Distinguishing from prior literature, this study analyses several potential models of Islamic crowdfunding from the perspectives of experts, practitioners and related agencies for micro-entrepreneurs. Moreover, this study bridges insights from related literature so that they offer practical applications to support micro-entrepreneurs in Malaysia.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 9 October 2023

Md Aslam Mia

Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a…

Abstract

Purpose

Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a lot to offer to the poor, is still in its infancy and has yet to gain momentum in the country. Therefore, the purpose of this study is to analyze the importance of Islamic microfinance and propose alternative Shariah-compliant microfinance models in Bangladesh.

Design/methodology/approach

This study is based on the desk research method, which relies on existing literature to collect secondary data on key concerns of traditional microfinance programs. In addition, institutional-level secondary data were also collected from the Microcredit Regulatory Authority (MRA) of Bangladesh. Guided by the Maqasid-al-Shariah, this study then proposes several Islamic microfinance models to overcome selected challenges faced by the microfinance industry in Bangladesh.

Findings

This study suggested three composite Shariah-compliant microfinance models, which are likely to help the underprivileged and thus ensure the achievement of the sustainable development goals in Bangladesh. The first model explained how the operational strategy of incumbent microfinance institutions (MFIs) could be restructured, while the second proposed the organizational strategies for establishing a new MFI. The third model used the notion of Sadaqah (charity) to address the multiple borrowing issues of the industry. Meanwhile, the successful transformation of the conventional microfinance industry to an Islamic one is dependent on the effective collaboration between the regulatory authorities, practitioners and MFIs.

Originality/value

Albeit the paucity of literature on the topic, the findings of this study will guide policymakers/practitioners in designing relevant microfinance models to help transform conventional microfinance into Islamic microfinance in Bangladesh.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 26 April 2023

Wahyu Jatmiko, Banu Muhammad Haidlir, A. Azizon, Bambang Shergi Laksmono and Rahmatina Kasri

The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the…

Abstract

Purpose

The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the under-collection issue has been characterizing the cash waqf movement globally. This study aims to examine how understanding the distinct cash waqf donating behavior across different generations has the potential to address the problem.

Design/methodology/approach

This study extends the theory of planned behavior by adding religiosity and knowledge variables into the standard model, using the partial least square structural equation modeling. A survey is conducted on 684 respondents representing the main provinces in Indonesia and four major generations (Baby Boomers [BB], Generations X, Y and Z).

Findings

Religiosity, Knowledge, Attitude, Subjective Norms and Perceived Behavioral Control directly or indirectly affect cash waqf intention. The effect is contingent on the characteristics of generations.

Research limitations/implications

This study covers only the Indonesian case with limited coverage of the more heterogeneous provinces in the country. The sample distribution for BB can also be enlarged.

Practical implications

Cash waqf institutions (government and private) should apply the dynamic segmenting strategy, where the diversification of the promotion, marketing, awareness and approaches are contingent on the different characteristics of each generation.

Originality/value

To the best of the authors’ knowledge, this is the first study evaluating the intergenerational determinants of Intention toward cash waqf, particularly in Indonesia.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 23 April 2024

Rifaldi Majid

The presence of securities crowdfunding (SCF) FinTech in the Islamic financial landscape opens investment opportunities through shares and sukuk (Sharia bond) instruments. This…

Abstract

Purpose

The presence of securities crowdfunding (SCF) FinTech in the Islamic financial landscape opens investment opportunities through shares and sukuk (Sharia bond) instruments. This study aims to examine the effect of investment risk (IR), legal risk (LR), product knowledge (PK), Sharia compliance (SC) and subjective norm (SN) on investment decisions in businesses and projects run by small and medium enterprises (SMEs).

Design/methodology/approach

The questionnaires were distributed to prospective investors with prior knowledge of SCF and Islamic investment. The data collected was then examined using partial least square-structural equation modeling using SmartPLS 4.0.

Findings

The results show that LR has positive and significant implications for supporting investment through SCF, while IR has the opposite. The main findings in this study explain that PK and SC are proven to strengthen the intention to invest in SCF. Meanwhile, SN, which also strengthens intention, is the greatest influence. Therefore, it is highly recommended that SCF organizers collaborate with regulators (OJK), universities, academics and the investor community, as well as Muslim entrepreneurs, to provide education and literacy regarding SCF products and the underlying contracts, along with the consequences and uniqueness of investment vis SCF.

Practical implications

From a managerial side, Sharia expert educators can be appointed to increase investors’ literacy and confidence to support SMEs’ business expansion via SCF. In addition, to minimize investment risk, SCF organizers are also advised to issue sukuk and shares in different low-risk businesses/sectors, followed by investment amounts that are more affordable for novice investors.

Originality/value

Research on SCF as an alternative to SME financing is still scarce. To the best of the author’s knowledge, this is the first research to empirically test the relationship between risk, SC, PK and SN on potential investors’ decisions to support SMEs through the SCF mechanism.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 14 September 2023

Mohamad Handi Khalifah, Fatih Savaşan, Naimat U. Khan and Shabeer Khan

This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth…

Abstract

Purpose

This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth literature. However, it reviews more material content of the published papers in the field, generally including the number of publications, authors, title, H-Index and authors’ affiliation.

Design/methodology/approach

The authors use biblioshiny by R in conducting bibliometric analysis. Based on the results of analysis, the authors only found 39 relevant documents to the topic with the help of keyword of “Islamic political economy”. The authors analyse the data and visualize it into bibliometric images for the convenience of the readers.

Findings

There are 39 documents on IPE in the annual scientific production. The year 1980 had the lowest productivity at 3% while the year 2007 showed an increase in scientific productivity by 13%. The most significant increase in production occurred between 2014 and 2015 by 8%, while the most significant decline occurred between 2007 and 2008 by 10%. The most significant contributors are Akan, T., Choudhury, M.A. and Asutay, M. According to the Corresponding Author’s Country, the UK has eight articles on IPE. Humanomics is the most influential Journal, with six documents.

Research limitations/implications

This research only examines documents sourced from Web of Science and Scopus under the title “Islamic political economy” and does not include articles from other sources. This research has implications for future researchers and suggests a shift in recent research on IPE towards exploring current realities and expanding beyond traditional economic and political aspects. The goal is to gain a comprehensive understanding of Islam’s role in shaping economic and political systems, promoting inclusive sustainable development and social justice, and exploring its relationship with broader political and economic systems.

Originality/value

IPE has become a trendy topic in the early days, the second half of the 20th century, during the revival of the Islamic mode of finance and development. However, with time, the discussion on this topic appeared less in scientific and academic publications; this issue needs an overview of how far this discipline has evolved. This work aims to identify future research trends in this area. Scholars should investigate articles by author, institution, country, databases, data sources with high-impact factors and objective metrics to get new perspectives.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

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