The Journal of Muamalat and Islamic Finance Research最新文献

{"title":"An Islamic Debt and Wealth Management Framework in the Context of Malaysia","authors":"Hossain Biplob, Md Faruk Abdullah Mohd Said, Gazi Md. Shakhawat Hossain Hasan","doi":"10.33102/jmifr.v19i2.460","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.460","url":null,"abstract":"The study aims to develop an Islamic debt and wealth management framework based on Shariah to improve Malaysians' financial behaviour. This is a qualitative study where semi-structured interviews were conducted to collect the primary data. The target respondents were local Shariah scholars and the Credit Counselling and Debt Management Agency (AKPK). A purposive sampling technique was used to select the samples from the population, including six Shariah scholars and six AKPK officers. The collected data were analysed thematically to come up with the main findings of the study. The study reveals several Islamic guidelines to manage personal debt and wealth. The findings outline that Islam discourages debt in personal life. Moreover, it allows debt restructuring to reduce the default rate in order to prevent insolvency. Besides, Islam encourages the practice of wealth accumulation through saving and investment, wealth protection through Takaful, balanced spending of wealth to form capital, earning a decent income, avoiding debt, securing wealth and ultimately overcoming financial difficulties. This study contributes to guiding Malaysians and other individuals to improve their financial behaviours by following Islamic guidelines of debt and wealth management so that they can avoid personal financial difficulties resulting from inefficient management of debt and wealth.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116050951","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":"Pengaruh Kewajipan Agama dan Literasi Zakat Terhadap Gelagat Pembayaran Zakat Simpanan Secara Terus Melalui Perbankan Islam","authors":"Muhammad Faizal Mazlan, Shahida Shahimi","doi":"10.33102/jmifr.v19i2.468","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.468","url":null,"abstract":"Pendeposit beragama Islam yang mempunyai simpanan di perbankan Islam wajib menunaikan zakat simpanan apabila telah cukup syarat tertentu. Bagi menggalakkan pendeposit menunaikan zakat simpanan, institusi perbankan Islam selaku ejen pungutan zakat simpanan bertauliah menyediakan kemudahan pembayaran zakat simpanan secara terus kepada pelanggan. Sehingga kini hanya terdapat dua buah bank Islam yang menawarkan kemudahan seumpama ini di Malaysia sekaligus berkemungkinan menggambarkan tahap kesedaran yang masih rendah. Oleh itu, kajian ini bertujuan mengenal pasti faktor-faktor yang mempengaruhi niat gelagat individu Islam untuk membayar zakat simpanan secara terus melalui bank. Kerangka kajian adalah berasaskan gabungan Teori Gelagat Terancang dan Teori Gelagat Pengguna Islam serta sekaligus memperkenalkan dua pemboleh ubah baharu, iaitu Kewajipan Agama dan mediator Literasi Zakat. Pengumpulan data menggunakan instrumen soal selidik dalam talian yang melibatkan responden dalam kalangan individu pendeposit beragama Islam di sekitar Selangor, Putrajaya dan Kuala Lumpur. Penganggaran berdasarkan pemodelan persamaan struktur-kuasa dua terkecil separa (PLS-SEM). Dapatan kajian menunjukkan bahawa Sikap, Kewajipan Agama dan Kawalan Gelagat Ditanggap melalui kesan mediator Literasi Zakat adalah mempengaruhi niat gelagat menunaikan zakat simpanan secara langsung melalui bank Islam. Namun bagi Norma Subjektif pula menunjukkan ia tidak mempengaruhi Niat Gelagat Pembayaran Zakat Simpanan melalui Bank. Berdasarkan dapatan kajian ini, dapat disimpulkan bahawa pemboleh ubah baharu yang diperkenalkan iaitu Kewajipan Agama dan mediator Literasi Zakat dapat mempengaruhi kesediaan pendeposit Islam untuk menggunakan kemudahan pembayaran zakat simpanan secara langsung melalui bank. Justeru, adalah disarankan supaya institusi perbankan Islam yang masih belum menawarkan perkhidmatan ini kepada pelanggan masing-masing untuk berbuat demikian. \u0000  \u0000Muslim depositor with savings in Islamic banking must pay zakat on savings when certain conditions are met. As accredited savings zakat collection agents, Islamic banking institutions provide savings zakat payment facilities directly to customers to encourage depositors to pay their savings zakat. Currently, there are only two Islamic banks with such facilities in Malaysia, which may reflect the level of awareness on this matter. Therefore, this study aims to identify factors influencing the behavioural intentions of Muslim individuals in paying zakat on savings directly through the bank. The framework of the study is based on a combination of the Theory of Planned Behaviour and the Theory of Islamic Consumer Behaviour. The framework of this study simultaneously introduces two new variables, namely Religious Obligation and Zakat Literacy mediator. Data collection used an online questionnaire instrument involving respondents among individual Muslim depositors in Selangor, Putrajaya and Kuala Lumpur. Estimation is based on partial lea","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131067971","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":"مقارنة الأداء المالي للبنوك التقليدية والإسلامية في المملكة العربية السعودية","authors":"Alawi Balfaqih, Azrul Azlan Iskandar Mirza, Muhamad Azhari Wahid","doi":"10.33102/jmifr.v19i2.469","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.469","url":null,"abstract":"شهدت البنوك الإسلامية والتقليدية السعودية خلال الفترة من 2009م إلى 2018م العديد من التغيرات السياسية والاقتصادية في العالم والخليج العربي بشكل عام وفي المملكة العربية السعودية بشكل خاص. تؤثر هذه التغييرات على أداء القطاع المصرفي إيجابًا أو سلبًا مع إمكانية تهديد استمراريتها. نظراً لاختلاف طبيعة البنوك الإسلامية والتقليدية وأسس أعمال كل منهما، تبحث هذه الدراسة في أداء البنوك الإسلامية والتقليدية في هذه الفترة في المملكة العربية السعودية. تتضمن عينة الدراسة جميع البنوك الوطنية السعودية الاثني عشر (8 بنوك تقليدية و 4 بنوك إسلامية). تعتمد الدراسة على مؤشر السيولة ومؤشرات الربحية ومؤشرات النشاط وتوظيف الأموال. تم قياس الفروق بين متوسطات مؤشرات النسب المالية لمجموعتي البنوك التقليدية والبنوك الإسلامية من خلال التحليل الإحصائي الوصفي للمتوسط الحسابي والانحراف المعياري، والتحليل الاستدلالي (t-test) باستخدام برنامج التحليل الإحصائي (SPSS). ﺗﻮﺻﻠﺖ اﻟﺪراﺳﺔ إلى جملة ﻣﻦ اﻟﻨﺘﺎﺋﺞ أهمها: أن البنوك الإسلامية تتمتع ﺑﺴﻴﻮﻟﺔ ﻋﺎﻟﻴﺔ مقارنة بالبنوك التقليدية. أظهرت مؤشرات الربحية عدم وجود فروق بين البنوك التقليدية والبنوك الإسلامية في استخدام مواردها الذاتية لتحقيق أرباح في متوسط ​​فترة الدراسة. ﰲ حين أﻇﻬﺮت ﻣﺆﺷﺮات اﻟﻨﺸﺎط ان اﻟﺒﻨﻮك اﻟﺘﻘﻠﻴﺪﻳﺔ أفضل أداء من حيث توظيف مواردها ﻣﻦ اﻟﺒﻨﻮك اﻹﺳﻼﻣﻴﺔ، بينما كلا النوعين من البنوك متقاربان في نسبة توظيف الودائع. كذلك أوضح ﻣﺆﺷﺮ اﻷﻣﺎن أن البنوك التقليدية والبنوك الإسلامية تتمتعان بملاءة ﻣﺎﻟﻴﺔ ﻣﻘﺒﻮﻟﺔ. واختتمت الدراسة بمجموعة من التوصيات منها: أنه يجب الحذر من أن تصل السيولة في البنوك الإسلامية إلى درجة فائض سيولة، والعمل على زيادة التعاون والتنسيق والتكامل بين البنوك الإسلامية على المستوى المحلي والدولي وتطوير سوق مالي إسلامي وابتكار أدوات مالية إسلامية. كذا الدعوة الى الاندماج بين البنوك الإسلامية لتكوين حجم مثالي لبنك إسلامي يكون نموذجاً يحتذى. \u0000  \u0000The 2009-2018 period witnessed many political and economic changes in the world and the Arab Gulf in general, and in the Kingdom of Saudi Arabia in particular. These changes may affect the performance of the banking sector and threaten the growth and continuity of banks. This study examines the performance of Islamic and conventional banks in this period in the Kingdom of Saudi Arabia. The study sample includes all the twelve Saudi national banks (8 conventional banks and 4 Islamic banks). The study relies on the indicators of liquidity, profitability, activity, and financial solvency. The differences between the means of the financial ratios of conventional banks and Islamic banks will be measured using descriptive and inferential analysis. Data analysis will be carried out using the Statistical Analysis Program (SPSS). The findings have shown that Islamic banks have high liquidity compared to conventional banks. Profitability indicators showed that there are no differences between conventional banks and Islamic banks on the use of their own resources to achieve profits in the average of study period. In addition, the activity indicators showed that the conventional banks employ their resources better than Islamic banks, while both types of banks are approximately similar in investment-depo","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122136810","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":"Do Tourists Have Better Protection by Taking Travel Takaful? A Comparison in Malaysia","authors":"Raihan Nasir, Asmak Ab Rahman","doi":"10.33102/jmifr.v19i2.462","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.462","url":null,"abstract":"The paper aims to present a comprehensive comparison between Travel Insurance and Travel Takaful development in Malaysia in terms of the product offered and coverage provided to provide better strategies for Travel Takaful market players. The main source of data for this study is the Product Disclosure Sheet (PDS) of Travel Insurance and Travel Takaful Plan, which were found using a systematic review. Using Ansoff Matrix Theories, the study classified the strategies of General Takaful and Insurance operators in managing Travel Protection Plan services and marketing segments. Furthermore, the details of the coverage, price, type of claim and channel to purchase Travel Insurance and Takaful were compared and analysed quantitatively using cross-comparison frequency. Analysis found that, as of August 2021, there were only 15 Travel Takaful Plans available, which are provided by 4 General Takaful operators, as compared to 60 Travel Insurance plans, which are provided by 17 General Insurance operators. This indicates a significant gap between the two types of protection plans. This study also discovered that bank institutions and airlines have collaborated with Insurance and General Takaful operators to create more diverse subscribing platforms for customers by also providing credit card and cashless medical claim methods. Furthermore, extensive coverage for Travel Takaful includes specialities such as Qurban, Badal Haji and Waqf, all of which entice Muslim travellers to purchase Takaful coverage. In addition, some Travel Insurance and Travel Takaful operators have added new coverage for quarantine period expenses in response to the COVID-19 pandemic. Lastly, this study proposes a framework to improve Travel Takaful products offered in the market. The study contributes to the body of knowledge in Takaful by presenting a comparative analysis between Travel Protection in Insurance and General Takaful operators, showing the development of the products and coverage offered by both industries. It is expected to become a significant reference, especially for Takaful market players, in order to build strong strategies toward Travel Takaful subscriptions. strengthening the function of zakat institutions as a socio-economic balancer.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129934752","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":"Conceptual Framework: Determinant Factors for Paying Zakat Fitrah Via Fintech","authors":"Aman Shah Siraj, Mohd Faisol Ibrahim, Nuradli Ridzwan Shah Mohd Dali","doi":"10.33102/jmifr.v19i1.465","DOIUrl":"https://doi.org/10.33102/jmifr.v19i1.465","url":null,"abstract":"Historically, Muslims used various payment forms to contribute to their Zakat Fitrah, from rice to fiat money and digital payment as the medium. Paying Zakat Fitrah in Malaysia using FinTech is getting attention in 2020 due to the COVID-19 pandemic. A rigorous study must be conducted to understand users’ behavioural intention to adopt the technology. The behavioural model of intention from the Theory of Planned Behaviour and its development, including technology as per the UTAUT model, can be used as the underpinning theory. Some insights from the past studies become the literature reviews that were used to develop the hypotheses. As a result, a conceptual framework is proposed using the modified UTAUT model to study the acceptance of Muslims towards paying Zakat Fitrah via FinTech.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"109 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131055101","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 Study on Relationship Between Crypto Currency, Commodity and Foreign Exchange Rate","authors":"Jerina Ibrahim Ibrahim, Mohamad Yazis Ali Basah","doi":"10.33102/jmifr.v19i2.457","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.457","url":null,"abstract":"Bitcoin is one of the crypto currencies which is increasingly popular as a digital currency. Bitcoin is a digital asset that can be accepted by global modern society nowadays. Bitcoin can be used in online transactions either for the purchase of goods or services. This study aims to find out the significant relationship between Bitcoin, gold, crude oil, and USD. In addition, this study also examines the causal relationship that exists between Bitcoin with each variable, whether bitcoin affects the variable or independent variable affects bitcoin. The data used is secondary data obtained from historical data in investing.com starting from September 2015 until September 2020. This data was analyzed using Regression and Correlation, Unit Root Test and Pairwise Granger Causality to see the relationship and influence between variables. The results show that there is a significant relationship between bitcoin, gold, and crude oil. While there is an insignificant relationship with the USD.  The study also shows that there is a positive correlation impact between Bitcoin, gold, and crude oil. There is a negative correlation impact between Bitcoin and the USD. That is, when there is an increase in gold and crude oil, it will also increase the Bitcoin. As for the USD currency, if the USD increases, Bitcoin will decrease and vice versa. Based on the analysis of granger causality shows that gold, crude oil, and USD do not cause Bitcoin, but Bitcoin, gold and crude oil cause the USD.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116318335","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":"Analisis Kriteria Penyahsenaraian Sekuriti Patuh Syariah Bursa Malaysia 2020-2021","authors":"Fidlizan Muhammad, Azila Abdul Razak, Mohd Yahya Mohd Hussin, Ahmad Zakirullah Mohamed Shaarani, Salwa Amirah Awang","doi":"10.33102/jmifr.v19i2.461","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.461","url":null,"abstract":"Majlis Penasihat Syariah (MPS) Suruhanjaya Sekuriti Malaysia (SSM) merupakan badan berautoriti menyaring sekuriti patuh syariah yang disenaraikan di Bursa Malaysia. Berasaskan dua indikator syariah iaitu aktiviti perniagaan dan kewangan, senarai sekuriti patuh Syariah beserta senarai sekuriti yang dinyah senarai diterbit sebanyak dua kali setahun. Namun demikian, laporan ini tidak memperincikan indikator Syariah yang gagal dipatuhi oleh sekuriti berkaitan. Sehubungan itu, kajian ini bertujuan menganalisis secara deskriptif, indikator syariah yang gagal dipatuhi oleh sekuriti yang dinyah senarai pada tahun 2020 dan 2021 menggunakan penyaring Syariah global. Hasil analisis mendapati, sebanyak 44 daripada 65 sekuriti sesuai dianalisis. Majoriti sekuriti yang dinyah senarai patuh Syariah didapati berpunca daripada ketidakpatuhan terhadap indikator Syariah kewangan. Rentetan dapatan ini, maka indikator ketidakpatuhan wajar didedahkan kepada pelabur. Jesteru itu, pelabur dapat menggunakan informasi baru ini dengan rasional untuk tindakan pelupusan sebagaimana dicadangkan oleh pihak SSM.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122931750","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":"Do The Islamic Banks Play a Role in The Monetary Policy Transmission in Pakistan? A Comparative Analysis with Conventional Banks Using Panel Data Analysis","authors":"Farhad Ahmed Bhatti, Salina Kassim, Razali Haron","doi":"10.33102/jmifr.v19i2.458","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.458","url":null,"abstract":"In Pakistan, bank lending plays a critical role in economic activities due to the scarcity of stocks and bond options. Islamic banks face an extra layer of difficulty with limited open market instruments and lender of last resort facilities, as well as tough competition with conventional banks. This study analyzes the differences in bank lending by Islamic and conventional banks in transmitting monetary policy by modeling bank credit as a dependent variable while bank-specific assets, liquidity, capital and growth, inflation, and policy rates as explanatory variables. Polled OLS fixed effect panel data models are used to analyze annual data for 2009-2018. The study finds that Islamic bank credit is influenced significantly by policy rates, inflation, and growth, as well as capital and liquidity. Conventional bank credit is significantly affected by the policy rates, growth, and inflation but capital and liquidity are less correlated. This paper concluded that Islamic banks are significant in policy transmission. However, policy tools and differences in operations and contracts affect Islamic bank equity and liquidity which may suffer long-term economic participation.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130435785","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":"Effects of Stewardship on Zakat Payers’ Trust in Kelantan: Does a Good Mix of Board Capital Increase Zakat Payers’ Trust Through Stakeholder Management?","authors":"Rufaidah Mat Nawi, Nadzirah Mohd Said, Hazriah Hasan","doi":"10.33102/jmifr.v19i2.459","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.459","url":null,"abstract":"Due to the COVID-19 pandemic crisis, it is an urge to maximize the zakat collection to reduce citizens' burden who got laid off and lost income sources. Despite zakat's obligation to every eligible Muslim, the zakat collection is still considered unsatisfactory due to the leakage in the zakat collection. The leakage happens when zakat payers prefer to pay directly to asnafs. One cause of the leakage is a lack of trust in the zakat institution. There is a lack of previous literature that reported on determinants of zakat payers’ trust. Therefore, the objective of this paper is to explore the relationships between board capital, stakeholder management, and zakat payers’ trust and the mediating effect of stakeholder management on the link between board capital and zakat payers’ trust. Four hypotheses were derived for this paper. 553 responses were collected from zakat payers in Kelantan. The data was analyzed using SmartPLS and revealed that board capital and stakeholder management positively affects zakat payers’ trust. Furthermore, board capital positively impacts stakeholder management, and the mediating effect of stakeholder management is confirmed. These findings imply that a combination of board members and good stakeholder management does increase zakat payers' trust, thereby strengthening the function of zakat institutions as a socio-economic balancer.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123648034","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":"Islamic Finance in China: Current Landscape and Future Forward","authors":"Yan Hao, Mohamed Hisham Haji Yahya, Malisah Latip, Muhammad Hafiz Ali","doi":"10.33102/jmifr.v19i2.464","DOIUrl":"https://doi.org/10.33102/jmifr.v19i2.464","url":null,"abstract":"China’s foreign trade has gradually lost its advantage due to continuous rise of RMB exchange rate and the labor costs in recent years. China urgently needs to explore new international trade markets to reinvigorate its foreign trade. With the recent development strategy of “One Belt One Road”, China should seize this opportunity to develop Islamic finance since most countries along the routes are Islamic countries. Islamic finance differs from traditional finance in its principles, development, products, operations, and regulation. The purpose of this article is to examine Chinese views on Islamic finance. The study conducted a survey through questionnaire. The findings show that the most ideal area to develop Islamic finance is in China’s northwest region due to its cultural advantages. The survey records that respondents’ reluctance towards Islamic finance mainly due to the absence of legal system and financial regulations for Islamic finance in China. Moreover, lack of talents in Islamic finance is also a major concern based on the survey. The study believes that the development of Islamic finance is conducive to the sound development of China’s financial system. It strengthens economic and trade cooperation with the Islamic world, enhances the ability to attract investment, and promotes harmonious economic development of ethnic minority areas.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"158 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126904260","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}