Islamic Economic Studies (IES)最新文献

Economic Growth and Financial Performance of Islamic Banks: A CAMELS Approach 伊斯兰银行的经济增长和财务绩效:骆驼模型

Islamic Economic Studies (IES) Pub Date : 2020-06-24 DOI: 10.1108/IES-05-2020-0016

Mohammed Ayoub Ledhem, Mohammed. Mekidiche.

{"title":"Economic Growth and Financial Performance of Islamic Banks: A CAMELS Approach","authors":"Mohammed Ayoub Ledhem, Mohammed. Mekidiche.","doi":"10.1108/IES-05-2020-0016","DOIUrl":"https://doi.org/10.1108/IES-05-2020-0016","url":null,"abstract":"Purpose – The purpose of this paper is to investigate the link between the financial performance of Islamic finance and economic growth in all of Malaysia, Indonesia, Brunei, Turkey and Saudi Arabia within the endogenous growth model framework. Design/methodology/approach – This study applied dynamic panel system GMM to estimate the impact of the financial performance of Islamic finance on economic growth using quarterly data (2014:1-2018:4). CAMELS system parameters were employed as variables of the financial performance of Islamic finance and gross domestic product (GDP) as a proxy of economic growth. The sample contained all Islamic banks working in the five countries. Findings – The findings demonstrated that the only significant factor of the financial performance of Islamic finance, which affects the endogenous economic growth, is profitability through return on equity (ROE). The experimental findings also indicated the necessity of stimulating other financial performance factors of Islamic finance to achieve a significant contribution to economic growth. Practical implications – The analysis in this paper would fill the literature gap by investigating the link between financial performance of Islamic finance and economic growth, as this study serves as a guide for the academicians, researchers and decision-makers who want to achieve economic growth through stimulating Islamic finance in the banking sector. However, this study may well be extended to investigate the link between the financial performance of Islamic finance and economic growth over the Z-score model as another measure for the financial performance of Islamic finance. Originality/value – This paper is the first that investigates the link between financial performance of Islamic finance and economic growth empirically using CAMELS parameters within the endogenous growth model to provide robust information about this link based on a sample of the top pioneer Islamic finance countries.","PeriodicalId":373040,"journal":{"name":"Islamic Economic Studies (IES)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122619975","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}

引用次数: 52

Organic Global Cryptocurrency: Towards a Stable International Monetary System that is Closer to Maqasid Sharıʿah 有机的全球加密货币:走向一个更接近Maqasid sharyahah的稳定的国际货币体系

Islamic Economic Studies (IES) Pub Date : 2020-05-18 DOI: 10.1108/IES-10-2019-0032

Abdurrahman Arum Rahman

引用次数: 0

Service Quality of Islamic Banks: Satisfaction, Loyalty and the Mediating Role of Trust 伊斯兰银行服务质量:满意度、忠诚度及信任的中介作用

Islamic Economic Studies (IES) Pub Date : 2020-04-27 DOI: 10.1108/IES-12-2019-0041

Razali Haron, Noradilah Abdul Subar, Khairunisah Ibrahim

{"title":"Service Quality of Islamic Banks: Satisfaction, Loyalty and the Mediating Role of Trust","authors":"Razali Haron, Noradilah Abdul Subar, Khairunisah Ibrahim","doi":"10.1108/IES-12-2019-0041","DOIUrl":"https://doi.org/10.1108/IES-12-2019-0041","url":null,"abstract":"PurposeThe objective of this study is to examine the impact of PAKSERV model on customers' satisfaction, loyalty and trust in Malaysian Islamic banks. These comprehensive measures concern on the cultural dimension of service quality by focusing on the mediating role of trust in the Malaysian context.Design/methodology/approachA survey was conducted involving 401 customers of Islamic banks in the states of Kuala Lumpur and Selangor, Malaysia. The data were analyzed through exploratory factor analysis, confirmatory factor analysis and structural equation model employing AMOS 23 and SPSS 23.FindingsThe study found positive relationship of PAKSERV dimensions of service quality, customers' satisfaction, customers' loyalty and the mediating role of trust in enhancing customers' loyalty. This study provides new evidence on how trust can act as a partial mediation on the relationship between customers' satisfaction and customers' loyalty in the cultural context of Islamic banking in Malaysia.Practical implicationsThe findings of this study can be used as a framework for other Islamic Financial Institutions (IFIs) in improving services to its customers.Originality/valueThis study contributes to the body of knowledge in enhancing the understanding on customers' satisfaction, loyalty and trust in Islamic banks in Malaysia. This study also covers a broad range of respondents, hence representing a good diversity of Islamic banks' customers.","PeriodicalId":373040,"journal":{"name":"Islamic Economic Studies (IES)","volume":"101 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115987027","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}

引用次数: 50

The Business Financial Inclusion Benefits From an Islamic Point of View: A Qualitative Inquiry 伊斯兰观点下的商业金融普惠:一项定性调查

Islamic Economic Studies (IES) Pub Date : 2019-12-10 DOI: 10.1108/IES-09-2019-0030

Umar Habibu Umar

{"title":"The Business Financial Inclusion Benefits From an Islamic Point of View: A Qualitative Inquiry","authors":"Umar Habibu Umar","doi":"10.1108/IES-09-2019-0030","DOIUrl":"https://doi.org/10.1108/IES-09-2019-0030","url":null,"abstract":"This study explores the benefits of business financial inclusion from the Islamic perspective in Nigeria by selecting Kano state as a case study.,Primary data were generated through semi-structured interviews with experts who comprised professional accountants/consultants and experienced traders. Thematic analysis was applied to examine the data collected. In addition, observations were made in some selected stores and shops to complement the interview results.,The study finds that the benefits of business financial inclusion include recordkeeping improvement, reduction of the risks of bad debts, reduction of the risks associated with cash, enhancing business zakāh for poverty alleviation, sales improvement and business growth, getting supports from government and other development organizations and the provision of employment opportunities.,This study is purely qualitative, and, as such, it has some limitations in terms of generalization.,The practical implication of this study is that the use of electronic payment methods, especially point of sales, enhances the business financial inclusion, which consequently maximizes their wealth and contributes to the reduction of poverty to the barest minimum in the society.,The social implication of the findings is that businesses that are financially included are in a better position to discharge religious, philanthropic and other benevolent activities, such as zakāh, qard hasan, waqf and sadaqah, for the welfare of the ummah.,The study points out the benefits of financial inclusion not only to businesses but also to other members of the society at large.","PeriodicalId":373040,"journal":{"name":"Islamic Economic Studies (IES)","volume":"111 3S 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133529171","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}

引用次数: 10

A Model of the Islamic Sovereign Wealth Fund 伊斯兰主权财富基金的典范

Islamic Economic Studies (IES) Pub Date : 2019-05-30 DOI: 10.1108/IES-05-2019-0003

Salman Bahoo, M. Hassan

{"title":"A Model of the Islamic Sovereign Wealth Fund","authors":"Salman Bahoo, M. Hassan","doi":"10.1108/IES-05-2019-0003","DOIUrl":"https://doi.org/10.1108/IES-05-2019-0003","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to propose a model of the Islamic sovereign wealth funds (ISWFs) based on Islamic finance principles to modify the precarious image of SWFs from Muslim countries. The Shariah laws are the cardinal direction for this study.\u0000\u0000\u0000Design/methodology/approach\u0000The authors applied a qualitative research technique that consists of three approaches: exploratory case study approach to critically examine and rank the existing status of SWFs; descriptive analysis; and content analysis to present a model of ISWFs in comparison of conventional SWFs.\u0000\u0000\u0000Findings\u0000The authors propose a model of the “Islamic Sovereign Wealth Funds” based on four key pillars: the major Shariah principles; the Islamic corporate governance framework; the Islamic transparency and disclosure framework; and the Islamic corporate social responsibility framework. Furthermore, the authors argue that the potential effect of the ISWFs on Islamic finance and economy will be positive.\u0000\u0000\u0000Research limitations/implications\u0000The model is an initial work and idea to convert SWFs from Muslim countries into ISWFs, which required an in-depth policy review by governments.\u0000\u0000\u0000Practical implications\u0000The findings of the paper are useful for policymakers and governments of the Muslim countries to overcome the issues and criticism on SWFs by converting them in ISWFs.\u0000\u0000\u0000Originality/value\u0000This paper contributes to the literature related to Islamic finance and sovereign wealth fund by presenting a first model of ISWFs for Muslim countries.\u0000","PeriodicalId":373040,"journal":{"name":"Islamic Economic Studies (IES)","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132016974","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}

引用次数: 12

Macro and Micro-Level Indicators of Maqāṣid Al-Sharī‘ah in Socio-Economic Development Policy and Its Governing Framework Maqāṣid al - shari ' ah在社会经济发展政策及其治理框架中的宏观和微观指标

Islamic Economic Studies (IES) Pub Date : 2018-01-01 DOI: 10.12816/0045058

Hazik Mohamed

引用次数: 4

Risk-Sharing Securities: Accelerating Finance for SMEs 风险分担证券:加快中小企业融资

Islamic Economic Studies (IES) Pub Date : 2017-07-01 DOI: 10.12816/0038221

S. Lajis

{"title":"Risk-Sharing Securities: Accelerating Finance for SMEs","authors":"S. Lajis","doi":"10.12816/0038221","DOIUrl":"https://doi.org/10.12816/0038221","url":null,"abstract":"Small and medium-sized enterprises (SMEs) play an essential role for job creation, employment, investment, innovation and economic growth. Despite its huge potential to support economic growth, SME lending continued to face constraints especially after the 2007 crisis. The present debt-based financial system hinders SMEs from fairer access due to the perceived high risk of the SMEs. Risk-sharing finance on the other hand promotes pro-active risk management through the sharing of risks in the economy according to the risk-bearing ability of the participants. In many ways, risk-sharing finance is naturally aligned with Islamic finance. The risk-sharing model operates on an asset-driven balance sheet management thereby ensuring that the financial sector grows in tandem with economic growth. It eliminates financial oppression/repression and predatory lending as compensations to investors are determined by the actual performance of the real economic activities. This ensures prosperity is shared equitably amongst those who share the risks of any economic venture. The rise of fintech has opened a new door of opportunity for the financial industry to push the present limits of debt-based finance. For Islamic financial institutions, the benefits of fintech go beyond as it could spur more risk-sharing financial activities that uphold the risk-reward principle. With creative rethinking, technology innovations can be the gamechanger needed to propel the growth trajectory of Islamic finance to the next stage of development. The paper recommends for the introduction of retail low-denominated risk-sharing securities as a new investment instrument that are issued by SMEs and tradable via fintech-enabled platforms. Internet- and mobile-based platforms would reduce the cost for financing for SMEs and increase investment opportunity to the members of public.","PeriodicalId":373040,"journal":{"name":"Islamic Economic Studies (IES)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114226127","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}

引用次数: 15

Islamic Microfinance Experience in a Secular State: Case of Benin 世俗国家的伊斯兰小额信贷经验:以贝宁为例

Islamic Economic Studies (IES) Pub Date : 2017-05-30 DOI: 10.2139/ssrn.3303695

O. Seck

{"title":"Islamic Microfinance Experience in a Secular State: Case of Benin","authors":"O. Seck","doi":"10.2139/ssrn.3303695","DOIUrl":"https://doi.org/10.2139/ssrn.3303695","url":null,"abstract":"Islamic finance has gained interest in Muslim as well as non-Muslim countries as financial markets are trying to attract capital from investors in search of investment opportunities in accordance with Islamic principles. While the industry is growing on fertile grounds in countries such as Malaysia, the United Arab Emirates, Saudi Arabia, a mix of other countries such as the United Kingdom, Luxemburg, Hong Kong, Senegal, South Africa etc., have tapped into that market by issuing Sukuk or Islamic bonds, although their regulatory frameworks are not designed for their specificities. In 2010, Benin, a former French colony, which inherited its secular constitution has introduced Islamic microfinance without modifying its regulatory framework. The objectives in this paper are three-fold: review the microfinance policy, the regulatory framework and its relevance to the effective functioning of Islamic microfinance. The paper also presents the experience of Benin in Islamic microfinance, and the evaluation of its impact in a policy environment characterized by secularism that implies exclusion of religious specificities. Using a combination of evaluation studies, survey of stakeholders and experts in Islamic microfinance in Benin, and complementary interviews, this research finds that the impact of Islamic microfinance is not separable from the impact of the overall microfinance sector in which it is blended. The impact appears to be positive in terms of contributing to the improvement of living conditions, and loosening the financing constraints on households and small and medium enterprises through additional financial resources.","PeriodicalId":373040,"journal":{"name":"Islamic Economic Studies (IES)","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121085047","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}

引用次数: 2

Stress Testing Frameworks and Practices in Dual Banking System: A Preliminary Assessment 双重银行体系的压力测试框架与实践:初步评估

Islamic Economic Studies (IES) Pub Date : 2017-05-17 DOI: 10.2139/ssrn.3303696

Muhamed Zulkhibri, A. Ismail

引用次数: 0

Sharī‘Ah and Sri Portfolio Performance in the UK: Effect of Oil Price Decline 英国的shari ' Ah和Sri投资组合表现:油价下跌的影响

Islamic Economic Studies (IES) Pub Date : 2016-12-01 DOI: 10.12816/0033335

N. D. Hendranastiti, M. Asutay

引用次数: 3