{"title":"Strategic Role of Zakat in Multidimensional Quality of Life in Sijunjung, Indonesia","authors":"Herlin Hamimi, A. Ismail, M. Zaenal","doi":"10.33102/JMIFR.V15I1.101","DOIUrl":"https://doi.org/10.33102/JMIFR.V15I1.101","url":null,"abstract":"Zakat is one of the five pillars of Islam which has a function of faith, social and economic functions. Muslims who can pay zakat are required to give at least 2.5 per cent of their wealth. The problem of poverty prevalent in disadvantaged regions because of the difficulty of access to information and communication led to a gap that is so high in wealth and resources. The instrument of zakat provides a paradigm in the achievement of equitable wealth distribution and healthy circulation. Zakat potentially offers a better life and improves the quality of human being. There is a human quality improvement not only in economic terms but also in spiritual terms such as improving religiousity. This study aims to examine the role of zakat to alleviate humanitarian issues in disadvantaged regions such as Sijunjung, one of zakat beneficiaries and impoverished areas in Indonesia. The researcher attempted a Cibest method to capture the impact of zakat beneficiaries before and after becoming a member of Zakat Community Development (ZCD) Program in material and spiritual value. The overall analysis shows that zakat has a positive impact on disadvantaged regions development and enhance the quality of life of the community. There is an improvement in the average of mustahik household incomes after becoming a member of ZCD Program. Cibest model demonstrates that material, spiritual, and absolute poverty index decreased by 10, 5, and 6 per cent. Meanwhile, the welfare index is increased by 21 per cent. These findings have significant implications for developing the quality of life in disadvantaged regions in Sijunjung. Therefore, zakat is one of the instruments to change the status of disadvantaged areas to be equivalent to other areas.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125060721","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}
Ahmad Shazrin Mohamed Azmi, Noor Rosly Hanif, Siti Mashitoh Mahamood
{"title":"Tinjauan Persepsi Majlis Agama Islam Negeri Terhadap Peruntukan Kerajaan Persekutuan Bagi Pembangunan Tanah Wakaf","authors":"Ahmad Shazrin Mohamed Azmi, Noor Rosly Hanif, Siti Mashitoh Mahamood","doi":"10.33102/JMIFR.V15I1.104","DOIUrl":"https://doi.org/10.33102/JMIFR.V15I1.104","url":null,"abstract":"The willingness of the Federal Government to fund waqf development in the Ninth Malaysia Plan (9MP) has greatly influenced the awareness and efforts to transform the waqf institution in Malaysia. However, a drastic reform was introduced during the Tenth Malaysia Plan (10MP) in line with the government’s transformation efforts has resulted in the application process for the development allocation becomes more difficult to be granted. This has led the State Islamic Religious Councils (MAINs) to no longer apply the budget from the Federal Government. Under this circumstance, this study has established the objective of reviewing MAINs’ perceptions on changes in development provisions implemented by the government. The method used for the study is a combination of document analysis and face-to-face interviews. This study uses content analysis as a method of analysis. The findings show that MAINs has the difficulty to meet all the requirements of the application due to several reasons. Consequently, MAINs has no longer to rely on the Federal Government to get the waqf land development fund and has to explore other suitable financing methods for its development projects.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126761485","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":"Determinants of Corporate Risk Disclosure Practice: The Case of Islamic Banks in Gulf Cooperation Council Region","authors":"Samir Srairi","doi":"10.33102/JMIFR.V15I1.99","DOIUrl":"https://doi.org/10.33102/JMIFR.V15I1.99","url":null,"abstract":"The paper develops a framework to explore the risk disclosure practices of 29 Islamic banks operating in the Gulf Cooperation Council countries over the period of 2013-2016 and examines the potential factors which might be affecting risk disclosure. To analyze the level of risk disclosure, the paper develops a composite index by using the content analysis technique. We also employ OLS technique to examine factors affecting Islamic banks’ risk disclosure. The results indicate a very high difference in risk disclosure between countries. Only two countries, the United Arab Emirates and Bahrain, have a higher level of risk disclosure. The findings also suggest that reporting on some risk disclosure types especially displaced commercial risk and rate of return risk is very low. The regression results show that Islamic banks with a stronger set of corporate governance mechanisms and an active Shariah board appear to disclose more risk information. Other factors that influence risk disclosure practices of Islamic banks are bank size, leverage, cross-border listings and the level of political and civil regression. The study recommends that Islamic banks have to revise their communication strategies and provide more risk information related to rate of return risk and display commercial risk. In addition, GCC regulators should establish risk disclosure regulations which have to become mandatory for all Islamic banks. To the best of our knowledge, the paper provides the first analysis related to the determinants of corporate risk disclosures of Islamic banks in the Arab Gulf region.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130459719","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":"Investment Account: Issues, Challenges and the Way Forward","authors":"Syaima’ Adznan","doi":"10.33102/JMIFR.V15I1.98","DOIUrl":"https://doi.org/10.33102/JMIFR.V15I1.98","url":null,"abstract":"The current Islamic banking products are merely resembling the conventional products, replacing interest-based to profit based; resulted to different in form but\u0000merely similar in substance. In Malaysia, efforts are ongoing for a call to embrace risk sharing as their new source of funds through the Investment Accounts (IA)\u0000products offering. This new product offered by Islamic bank with the aims to better position the current Islamic banking practices and promote true equity based financing. Supported by the Bank Negara Malaysia, IA provides a promising avenue with a wider range of risk-return preference for the investor to invest and participate in the real economy activities. However, there is considerable ambiguity in the nature and characteristics of IA in the actual practice of Islamic banks. The paper aims to examine the issues and challenges arising from the use of IA by Islamic banks, and to suggest a solution to the main issues, which will also greatly reduce other challenges faced.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125137398","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}
Rubayah Yaakob, Mohd Hafizuddin Syah Baangan Abdullah, Norasykeen Mohd Baharom
{"title":"Analisis Polisi Luput Pelan Takaful Keluarga","authors":"Rubayah Yaakob, Mohd Hafizuddin Syah Baangan Abdullah, Norasykeen Mohd Baharom","doi":"10.33102/JMIFR.V15I1.103","DOIUrl":"https://doi.org/10.33102/JMIFR.V15I1.103","url":null,"abstract":"This study aims to analyze the determinants of policy lapse of family’s takaful in Malaysia by examining the demographic characteristics of policyholders and the\u0000family takaful policy itself. The policy could lapse due to several reasons such as failing to make payment within the prescribed period, converting to a better policy, financial pressure and voluntary surrender. The policy lapse has a huge impact on stakeholders such as takaful operators, customers and policy makers. The impact of policy lapse includes losses to firms, adverse selection, liquidity and contribution increament. The results of the logistic regression analysis show that the sum insured, payment methods and gender have a negative impact on policy lapse. Wheares age, marital status and the insured individual have no effect on policy lapse. The findings assist stakeholders such as takaful operators and regulators to develop appropriate strategies to achieve their goals and support the development of the takaful industry in Malaysia.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"172 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116017186","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}
Dato' Muhamad Muda, N. Ahmad, Hanim Misbah, N. Hashim, Fara Madehah Ahmad Farid
{"title":"Research in Islamic Economics and Finance in Malaysia: A Review","authors":"Dato' Muhamad Muda, N. Ahmad, Hanim Misbah, N. Hashim, Fara Madehah Ahmad Farid","doi":"10.33102/jmifr.v1i1.1","DOIUrl":"https://doi.org/10.33102/jmifr.v1i1.1","url":null,"abstract":"This paper evaluates and analyses contents on several selected journals on Islamic economics and finance in Malaysia between 1977-3003. A brief introduction on the purpose, importance and structure of the journals are highlighted followed by its history, within the first part of the article. This paper also covers the background of the journals, the methodology and the reviews the relevant articles. Apart from that descriptive statistics concerning the classification of field of study of study each journal and subtopics of articles reviewed were also presented. A brief contents analysis of Islamic economics system, Islamic finance and banking, Islamic economic development and Islamic management articles were discussed to examine its prospect for research in the future. This review found that the scope and areas of interest, as indicated by the publications are narrow and few. This paper concludes with a discussion on the needs to proliferate the research and publication in the areas of Islamic banking and finance, Islamic economics and Islamic management.","PeriodicalId":350106,"journal":{"name":"The Journal of Muamalat and Islamic Finance Research","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133949118","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}