{"title":"Islamic banking opportunities in a non-Islamic economy: Customer perspectives of New Zealand","authors":"R. Khan, G. Subramaniam, Ershad Ali, Saida Parvin","doi":"10.24191/jeeir.v6i3.8788","DOIUrl":"https://doi.org/10.24191/jeeir.v6i3.8788","url":null,"abstract":"New Zealand as a representative of a non-Islamic economy holds some unique characteristics. It is small enough to test a new banking concept without many risks at the same time the results can be replicated effectively in larger economies like Australia, Canada, UK and USA. The current study uses four exploratory interviews and a robust literature review to propose frameworks for future studies in this area of knowledge. The results suggest opportunities of a market that can be a source of effective knowledge for successful market entries for Islamic banks around the world. Finding of this study may be of interest of future researchers in this area as well as managers and bankers looking for future markets of Islamic banks.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"81 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123002024","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mohd Faizal Basri, Amirul Afif Muhamat, M. N. Jaafar
{"title":"The efficiency of Islamic banks in Malaysia: Based on DEA and Malmquist productivity index","authors":"Mohd Faizal Basri, Amirul Afif Muhamat, M. N. Jaafar","doi":"10.24191/jeeir.v6i3.8784","DOIUrl":"https://doi.org/10.24191/jeeir.v6i3.8784","url":null,"abstract":"This paper aims to investigate the impact of liberalisation move by Bank Negara Malaysia (BNM) towards the efficiency of domestic and foreign Islamic banks (IBs) in Malaysia. This is consequence of decision of BNM that awarded licenses to three international IBs, namely Kuwait Finance House (KFH), Al Rajhi Bank, and Asian Finance Bank in 2005. In addition, this study takes into consideration the existing foreign banks in the country that operate via Islamic banking subsidiaries as part of foreign IBs. The research evaluates the impact of foreign Islamic banks in Malaysia by measuring their contribution to the growth of the Malaysian Islamic banking industry. Using a sample of 16 IBs in Malaysia from 2008 to 2015, the study uses Data Envelopment Analysis (DEA) in measuring the efficiency level of each bank and comparative between the performance of domestic and foreign IBs in the country. The paper also employs the Malmquist Productivity Index to gauge the changes in its components between the same subjects and timeframe. The DEA results showed that the domestic Islamic banks are considered more efficient than most domestic Islamic banks outperforming the foreign Islamic banks. Banks like Hong Leong Islamic, Maybank Islamic, Public Islamic, and RHB Islamic are considered among the top performers for technical efficiency and scale efficiency. The study also found that based on the Malmquist Productivity Index, the least efficient banks based on DEA have improved in technical efficiency, technology, and total factor productivity (TFP).","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131602723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. R. Khamis, Mohd Faizal Kamarudin, Nur Afizah Muhamad Arifin, Maryam Jameelah Hashim
{"title":"Length of business operation and its relationship with compliance behaviour of business zakat among owners of SMEs","authors":"M. R. Khamis, Mohd Faizal Kamarudin, Nur Afizah Muhamad Arifin, Maryam Jameelah Hashim","doi":"10.24191/jeeir.v6i3.8789","DOIUrl":"https://doi.org/10.24191/jeeir.v6i3.8789","url":null,"abstract":"Length of business operation and its relationship with zakat compliance behaviour are hardly found in the literature. This is because many studies mainly discussed zakat on income compared zakat on business. Thus, this paper aims to identify the relationship between the length of business operation and compliance behaviour of business zakat among owners of SMEs through the new application namely Rasch Measurement Model. 276 questionnaires managed to be collected from SMEs and only 253 respondents fit with the Rasch Measurement Model. The statistical indicators such as Person Item Distribution Map revealed that among 253 respondents, 41.1 percent denoting the group that complies with paying business zakat and 58.9 percent denoting the group that does not comply with paying business zakat. Interestingly, this shows the length of business operation can be said as not influenced at all in compliance behaviour of business zakat among owners of SMEs. The implication of this paper provides evidence of the usefulness of Rasch Measurement Model in identifying the relationship between the length of business operation and compliance behaviour of zakat on business that has not been explored yet by other studies.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116217306","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
N. Hashim, W. K. Yahya, S. Bakar, Siti Aisyah Asrul
{"title":"Social influence and eco-label factors towards purchase intention of home products: A PLS approach","authors":"N. Hashim, W. K. Yahya, S. Bakar, Siti Aisyah Asrul","doi":"10.24191/jeeir.v6i3.8786","DOIUrl":"https://doi.org/10.24191/jeeir.v6i3.8786","url":null,"abstract":"Consumers today are more aware of environmental issues. This rise in ecologically conscious consumer behavior sometimes known as green consumers has seen an incease in many studies on the nature of green consumers in different markets. This study examines the attitude-behavior relationship that integrates two factors, namely: social influence and knowledge of eco-labels to examine their influence in the intention to purchase green home electronic products.The green home electronic products for this study are air conditioner, television and refrigerator. Using convenience sampling, 251 self-administered questionnaires were acquired from the consumers. The result indicates that social influence and eco label are significant influencers on green purchase intention of home electronic products. The results of this study will support marketers to have an all-inclusive marketing plan and promotional approaches to attract consumers to participate in buying green product. Implication for marketers is further discussed.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"110 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124686845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Zakah on shares: Theory and reality in Malaysia","authors":"M. I. Rosele, L. Abdullah, A. Ali","doi":"10.24191/jeeir.v6i2.8778","DOIUrl":"https://doi.org/10.24191/jeeir.v6i2.8778","url":null,"abstract":"Zakah (Islamic almsgiving) on shares are generally mentioned indirectly in classical fiqh books. This is due to the fact that the practice of shares is relatively new in classical Islamic jurisprudence literature. However, the basis of the debate on shares can be traced to its establishment and development in the classical fiqh discourse. Muslim individual and Muslim-operated companies have been involved in investment and share-trading, thus creating the debate of zakah on shares in Malaysia. Therefore, the objective of this study is to highlight the discussion of zakah on shares based on the reality in Malaysia. The focus of the debate will touch the aspects of legal shares, fiqh of zakah and its method of calculation.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114341903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Cash Waqf for education: Prospects and challenges","authors":"Ridzwan Bakar","doi":"10.24191/jeeir.v6i2.8775","DOIUrl":"https://doi.org/10.24191/jeeir.v6i2.8775","url":null,"abstract":"This article is written based on author’s personal experience with waqf program implementation (philantrophy activities) mainly in executing cash waqf for education in Malaysia, Indonesia and Cambodia. In particular, the article provides brief literature on waqf and cash waqf, describes success story, highlights prospects and challenges in implementing cash waqf for education.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127988924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exploring trade practice and market before and after the advent of Islam in Arabia","authors":"I. Shahid","doi":"10.24191/jeeir.v6i2.8776","DOIUrl":"https://doi.org/10.24191/jeeir.v6i2.8776","url":null,"abstract":"Trade and commerce is an integral part of human civilisation. Trade practice before the advent of Islam is a great concern for researchers and students of Islamic Business. It was based on injustice and dishonesty. Islam abolished these customs and propounded the modules based on justice and balance. This is a theoretical attempt to explore the nature and methods of trade prevalent in Arabia before the Islam. This paper also highlights some rulings of Islam made to govern the trade and market.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128451243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determination of poverty among the poor and needy in a developing country","authors":"A. Ali, Mohd Faisol Ibrahim","doi":"10.24191/jeeir.v6i2.8781","DOIUrl":"https://doi.org/10.24191/jeeir.v6i2.8781","url":null,"abstract":"This article attempts to analyse the determination of poverty among the poor and needy of the zakat recipients in Kelantan, Malaysia. The study is motivated from the Kelantan zakat collection (2003-2015) that suggests that the growth alone (high collection) is not enough to eliminate poverty, there are indeed, other elements of poverty eradication like the socio economic, demographic factors, remittances and the investments in social and economic factors like the food subsidy for the poorest, good quality education, opportunities for the most needy, regulation of job markets, and purposively designed social security nets also have significant impact on permanent reduction in poverty. In Kelantan, despite zakat centres having disbursed an increasing amount of expenditure annually on the two categories of zakat recipients, hitherto the number of fuqara (poor) and masakin (needy) households is still increasing (MAIK, 2014; JAWHAR, 2012). Thus, it is important to understand the nature and scale of poverty, the various driving forces that affect it and the determinants of poverty among the poor and needy as linked to this process. A sample of 505 households from 2016 Household Expenditure Survey (HES) among the poor and needy zakat recipients in Kelantan has been used in this study. The findings have important policy implications for Kelantan Zakat Department (MAIK) in making the zakat distribution becomes more efficient and uplift the important role of zakat as one of the poverty alleviation tools among the Muslims. This study recommends the method of zakat distribution should be improved and channelled accordingly in order to strengthen the Muslims economy condition and then, it would facilitate the poverty alleviation programmes by the zakat department.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124026277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A time series analysis of determinants of FDI in Afghanistan: Which one matters the most, security or economic growth?","authors":"Abdul Fareed Delawari","doi":"10.24191/jeeir.v6i2.8777","DOIUrl":"https://doi.org/10.24191/jeeir.v6i2.8777","url":null,"abstract":"Afghanistan has been practicing market economic system since 2002. Since then, the government has been initiating different policies and announced various incentives to attract foreign direct investment (FDI) to the country. However, the outcome has not been satisfactory due to several political and economic factors. This paper explores the relationship between security, economic growth and FDI in Afghanistan, using ARDL model. The paper covers a period from 2002 to 2016. The empirical results of this study show that there is a negative long-term relationship between security and FDI. Hence, the author concludes that, to attract FDI to the country, insuring security should be the top priority of the government of Afghanistan.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134150279","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Application of normative frameworks for assessing availability of socio-economic policies based on maqasid al shari’a principles in Muslim countries: A proposal","authors":"M. Abubakar, Kabiru Jinjiri Ringim","doi":"10.24191/jeeir.v6i2.8779","DOIUrl":"https://doi.org/10.24191/jeeir.v6i2.8779","url":null,"abstract":"The objective of this paper is to propose a framework that will assess the availability of maqasid al shari’a based socio-economic policies in Muslim countries, and whose nebulous institutions are perturbed by the statistic that 504 million people are living in multi-dimensional poverty, suffering from range of deprivations in forty-three member countries of the Islamic Development Bank (IDB). Lack of or weak access to adequate resources remain the primary issues faced by many nations. In the midst of this though, there is a recurring argument that the level of socio economic development of human well-being must be improved. To understand development challenges of socio-economic framing in the current Muslim world, factors such as education, health, spirituality, lives and property, economy, food security as well as youth employment as based on maqasid al shari’ah framework model merit consideration. Accordingly, this paper seeks to address the gap in the current literature by incorporating education and youth unemployment factors into the socio-economic development model which is based on maqasid al sharia’h framework. The study adapted the principles of Islamic divine law that ensures an inclusive socio-economic development policy devoid of tribal, ethnic or religious sentiments. The study offered recommendations for further research on maqasid al sharia’ah applications on the socio-economic development of both Muslim and Muslim-minority countries.","PeriodicalId":222326,"journal":{"name":"Journal of Emerging Economies and Islamic Research","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133471275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}