Islamic Economic Studies最新文献

{"title":"A proposed Bay-Salam with Takaful and value chain model for financing agriculture in Kano State, Nigeria","authors":"Ummi Ibrahim Atah, Mustafa Omar Mohammed, Abideen Adewale Adeyemi, E. Adawiah","doi":"10.1108/ies-09-2021-0035","DOIUrl":"https://doi.org/10.1108/ies-09-2021-0035","url":null,"abstract":"PurposeThe purpose of this paper is to propose a model that will demonstrate how the integration of Salam (exclusive agricultural commodity trade) with Takaful (micro-Takaful – a subdivision of Islamic insurance) and value chain can address major challenges facing the agricultural sector in Kano State, Nigeria.Design/methodology/approachThe study conducted a thorough and critical analysis of relevant literature and existing models of financing agriculture in Nigeria to come up with the proposed model.FindingsThe findings indicate that measures undertaken to address the major challenges fail. In view of this, this study proposed Bay-Salam with Takaful and value chain model to solve a number of challenges such as poor access to financing, poor marketing and pricing, delay, collateral requirement and risk issues in order to avail farmers with easy access to finance and provide effective security to financial institutions.Research limitations/implicationsThe paper is limited to using secondary data. Therefore, empirical investigation can be carried out to strengthen the validation of the model.Practical implicationsThe study outcome seeks to improve the productivity of the farmers through enhancing their access to finance. This will increase their level of production and provide more employment opportunities. In addition, it will boost financial inclusion, income generation, poverty alleviation, standard of living, food security and overall economic growth and development.Originality/valueThe novelty of this study lies in the integration of classical Bay-Salam with Takaful and value chain and create a unique model structure which the researchers do not come across in any research that presented it in Nigeria.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":"2 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139525802","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":"The Tunisian Islamic and conventional banks: a performance comparative study","authors":"Malika Neifar, Leila Gharbi","doi":"10.1108/ies-07-2022-0026","DOIUrl":"https://doi.org/10.1108/ies-07-2022-0026","url":null,"abstract":"Purpose This paper aims to determine whether Islamic banks (IBs) and conventional banks (CBs) in Tunisia are distinguishable from one another based on financial characteristics during the 2005–2014 period covering the 2008 global financial crisis (GFC) and the 2011 Tunisian revolution. Design/methodology/approach For the comparison between IBs and CBs, 11 hypotheses are formulated to distinguish between the two types of banks. The authors use a univariate analysis based on the multi-dimension figures investigation and a multivariate one based on the robust OLS technique for panel linear regression with mixed effects. Findings Bank-specific factors, dummy and dummy interacting variables indicate that there are differences between Islamic and conventional bank behavior. Both methods show that IBs are more liquid, more profitable and riskier than CBs. Post-2011 Tunisian revolution, small IBs (small CBs) are more (less) solvent, large IBs are more stable and both types of banks are more liquid, which explain why Tunisian governments have relay on bank system to cover budget deficits post-2011 revolution. Originality/value In investigating the feature of IBs and CBs from the Tunisian context, the authors take into account the effect of two abnormal events (2008 GFC and 2011 Tunisian revolution) on IBs through interaction variables.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":"50 19","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135432720","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":"Assessing the awareness and perception of <i>waqf</i> among business owners in Gombe State, Nigeria","authors":"Musa Abdu, Abdullahi Abubakar Lamido, Adamu Jibir","doi":"10.1108/ies-02-2023-0006","DOIUrl":"https://doi.org/10.1108/ies-02-2023-0006","url":null,"abstract":"Purpose The literature about the dynamics of Muslims' awareness and perception of waqf has been generally scarce,especially in Nigeria. As renewed efforts are emerging to develop a new waqf regime in the country, this study examines this aspect in Gombe metropolis, Nigeria, with a view to identifying the key factors shaping people's perception and awareness towards waqf. Design/methodology/approach To achieve the objective of this study, primary data were collected through a survey among 494 business owners in the Gombe metropolis. The data were then analysed using probit and Tobit regression models. Findings The study found that altruistic behaviour, religiosity level, educational level and young age are among the factors that determine people's perception and awareness towards donating to waqf among business owners in Gombe. Altruism and young age embolden businesspersons to recognise the effectiveness of waqf institutions in solving socioeconomic challenges. Practical implications The findings of this study imply that waqf has huge potential in the study area and that with well-structured, organized waqf education programmes within the business community using diverse avenues, a robust waqf sector can be developed. Originality/value As far as the study area and the entire Nigerian Islamic economics and finance landscape is concerned, the study has explored a novel research area. Given the infant stage of empirical studies on waqf in Nigeria, there are virtually no previous attempts to examine the awareness and perception of businesspersons towards waqf; variables that are key to the development of an effective sector.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":"49 45","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135432600","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":"The behavior of Islamic and conventional banks around the pandemic: cross-country evidence","authors":"Saibal Ghosh","doi":"10.1108/ies-02-2022-0016","DOIUrl":"https://doi.org/10.1108/ies-02-2022-0016","url":null,"abstract":"Purpose Using cross-country data on the 1,000 largest global banks for 2019, the paper aims to examine the response of bank risk and returns to the pandemic. Design/methodology/approach The author employs weighted least squares (WLS) techniques for the purposes of analysis. Findings The findings suggest that banks with Islamic windows increased their riskiness in response to the pandemic, although there was not much impact on profitability. Additionally, the author categorizes banks based on certain major characteristics and find that these findings are manifest primarily for well-capitalized and less liquid banks. Originality/value Research as to the impact of the pandemic on banks' balance sheets has been an unaddressed area of research. By focusing on a large sample of banks across countries with both Islamic and conventional banking presence, the analysis sheds light on the balance sheet response of banks to the pandemic, an aspect that has not been addressed earlier.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135689602","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":"Factors influencing the individual investors of Bangladesh to opt for investment in <i>ṣukūk</i>","authors":"Tasruma Sharmeen Chowdhury, S.M. Kalbin Salema","doi":"10.1108/ies-01-2023-0002","DOIUrl":"https://doi.org/10.1108/ies-01-2023-0002","url":null,"abstract":"Purpose This study aims to identify the factors that influence the willingness of Bangladeshi retail investors to invest in ṣukūk . Design/methodology/approach The authors surveyed Bangladeshi retail investors using a structured questionnaire to understand their perspectives on potential investment in ṣukūk . The authors considered the behavioral aspects of retail investors and the desired ṣukūk features to analyze the demand side. Factors and regression analyses were performed to identify the persuading factors. Findings The results indicate that investor awareness is a fundamental factor in potential investments in ṣukūk . Investors perceive the security represented by government and third-party guarantees as a persuasive feature of ṣukūk . The tradability and tenor of ṣukūk also affect the investment intention. Sharīʿah consciousness of the investors also plays a significant role in their investment decisions. Research limitations/implications One limitation of this study is that it incorporates potential individual investors only, and precludes institutional investors. In the future, there is scope for research to explore the demand factors impacting institutional investors of ṣukūk in Bangladesh. Practical implications The authors expect that the study will aid policymakers and ṣukūk issuers in crafting strategies to cater to the needs of Bangladeshi retail investors. Originality/value This study is the earliest research conducted in Bangladesh to determine the factors impacting the willingness of individual investors to make their potential investments in ṣukūk . To the best of the authors' knowledge, no study has analyzed the desired ṣukūk features from the perspective of Bangladeshi retail investors.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136012159","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":"Justice in the workplace: Islamic principles for wage determination","authors":"Kausar Yasmeen","doi":"10.1108/ies-03-2023-0011","DOIUrl":"https://doi.org/10.1108/ies-03-2023-0011","url":null,"abstract":"PurposeThe 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/approachThis 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.FindingsThe 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/implicationsThe 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 implicationsThe insights on Islamic principles and wage determination guide scholars and policymakers interested in promoting just and equitable wages.Originality/valueThis 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.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47731069","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":"The determinants of institutionalization of Zakāt: the case of Morocco","authors":"Hafssa Yerrou, Amina Achmaoui, Oumaima Bezoui","doi":"10.1108/ies-01-2023-0003","DOIUrl":"https://doi.org/10.1108/ies-01-2023-0003","url":null,"abstract":"PurposeMuslims have several religious obligations; the payment of a defined sum to the deprived part of the society is one of their financial obligations called Zakat. The institutionalization of this obligation has been the focal point of several research studies, however the Moroccan context has been studied by very few researchers. Therefore, this research aims to study the institutionalization of Zakat in the Moroccan context. Design/methodology/approachIn this paper, the authors try to drive focus to the determinants of the payment of Zakat to a specialized institution in Morocco (institutions whose main activity is the management of zakat funds), through 302 questionnaires that have been administrated on Moroccans and partial least square (PLS) approach.FindingsThe results show that the intention and payment behavior of Zakat by Moroccans depends on the quality of the zakat institution's quality of services, its location, the competence and availability of personnel, the use of technology, the shari'ah compliance of the institution’s activities and the trust by showing professionalism in the management of Zakat funds and disclose information.Research limitations/implicationsThe lack of relevant data covering the number of Zakat payers in Morocco, their potential contributions and the amounts paid each year, slows down the progress of this project as it hinders the ability of state officials and decision-makers to assess the potential zakat funds that are currently in circulation, and thus makes it hard for them to attribute financial support to such project. It also makes it hard for researchers to get direct access to Muzzakis.Practical implicationsThe existing literature shows immense interest in the implementation of institutions who can manage the Islamic social instruments especially zakat. However, the lack of relevant payer data of Zakat in Morocco and other jurisdictions who have not yet institutionalized zakat slows down the progress of this project and hinders any progress. Thus, the initiating point of such institutions in Morocco and in other countries who have not yet launched this project, requires knowing what determines the behaviour of Zakat payers and their choice of paying zakat to an institution. The results of our research help give insights on the determinants of zakat institutionalization from zakat payers point of view. These results are useful to the state policy makers.Social implicationsLike other neighboring countries, Morocco must introduce Zakat into its social system in order to better manage the funds that will enable the tackling of serious social problems such as poverty.Originality/valueIn contrast to the widespread and extensive literature available in analyzing the determinants of donations and volunteering from a conventional perspective, the parallel analysis of these same concerns in social Islamic systems is still in its infancy and so is the implementation of institutions related to zakat and other ","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48136243","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":"Family takāful purchase intentions in Bangladesh: the mediating role of attitude and saving motives and the moderating role of religiosity","authors":"A. Hasan, Md. Takibur Rahman","doi":"10.1108/ies-03-2023-0012","DOIUrl":"https://doi.org/10.1108/ies-03-2023-0012","url":null,"abstract":"PurposeThe purpose of this study is to predict family takāful purchase intentions (FTPIs) using an extended theory of planned behavior (TPB) with relevant mediating and moderating factors.Design/methodology/approachThis study is based on a survey of 384 Muslim employees who work in both government and private organizations. This study used partial least square structural equation model (PLS-SEM) for hypothesis testing, predictive relevance and measuring the effect size of the model.FindingsThe study found that attitude (ATT), subjective norms (SN), perceived behavioral control (PBC), saving motives (SM), promotional campaign (PC) and religiosity (RG) directly contribute to the prediction of FTPIs. Furthermore, ATT and SM partially mediate between PC and FTPI. Moreover, RG significantly moderates the association between ATT, SN, SM and FTPI, while RG insignificantly moderates the link between PBC and FTPI.Practical implicationsThis study provides insight into understanding the factors leading to an enhanced understanding of FTPI in a country where the industry is growing very fast. Further, the study suggests informative and persuasive promotions to encourage FTPI in Bangladesh and similar countries.Originality/valueThis study provides insights into previously unaddressed FTPI among Muslim employees in Bangladesh and similar countries. Prior work on determining FTPI has not focused on promotional campaigns and saving motives, and thus, this study has extended TPB to understand the phenomenon.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46854266","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 systematic review on homo Islamicus: classification and critique","authors":"Muhammad Sholihin, Catur Sugiyanto, A. Susamto","doi":"10.1108/ies-11-2022-0043","DOIUrl":"https://doi.org/10.1108/ies-11-2022-0043","url":null,"abstract":"PurposeThis paper aims to systematically review the concept of homo Islamicus discussed in the existing literature. The second objective is to offer a set of criticisms of the descriptions of homo Islamicus.Design/methodology/approachIn this paper prespecified eligibility criteria are applied to select articles that are indexed in Scopus and ProQuest, or published by two major publishers, ScienceDirect and Emerald, or appear on ResearchGate. A set of books related to homo Islamicus was also used as secondary sources to support the selected articles. As a result, this paper systematically reviews 53 articles and four books to synthesize the homo Islamicus.FindingsThere are four notions of homo Islamicus: Firstly, homo Islamicus as the kind of economic agent that is required to achieve Islamic economic objectives. Secondly, homo Islamicus as a defining factor that makes the difference between Islamic and conventional economics. Thirdly, homo Islamicus as an economic agent whose characteristics are something Islamic economics aims to realize. Lastly, homo Islamicus as an economic agent representing the fundamental assumption in Islamic economics.Practical implicationsMapping homo Islamicus can be helpful for future researchers to conduct analyses related to homo Islamicus, especially in the context of empirical studies of the existence of homo Islamicus in economic reality. This literature review can help other researchers to understand the development of literature related to homo Islamicus.Originality/valueThis paper seems to be the first to systematically identify, select and synthesize the description of homo Islamicus in the literature.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43696638","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":"Bank lending and macroprudential policies: are Islamic banks differentially affected?","authors":"Abdullatif Albinali","doi":"10.1108/ies-02-2022-0018","DOIUrl":"https://doi.org/10.1108/ies-02-2022-0018","url":null,"abstract":"PurposeThe purpose of the paper is to study the relevance of macroprudential policies (MPPs) in influencing bank lending in small open economies with dual banking systems.Design/methodology/approachIn the analysis, the author employed the dynamic panel data methodology as compared to alternate techniques since it is able to address potential endogeneity challenges.FindingsUsing quarterly data from the period 2002–2020, the author finds that MPPs are highly effective in containing the growth of public credit, whereas its impact on private credit is much less effective. The disaggregated findings reveal that macroprudential measures are less effective in containing the growth of private credit by Islamic banks.Originality/valueThe majority of studies on MPPs are focused on emerging and advanced economies, limiting their policy appeal from the standpoint of small open economies. In this connection, this paper contributes to the literature on the relevance of such policies for a small open economy with a dual banking system and significant hydrocarbon exports. The paper's analysis therefore holds relevance for similar economies, both in the region and elsewhere, on the role and relevance of MPPs with emphasis on Islamic banks.","PeriodicalId":34300,"journal":{"name":"Islamic Economic Studies","volume":"21 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41298710","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}