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Turkish Journal of Islamic Economics-TUJISE最新文献

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Why Islamic Banks Are Reluctant to Offer Musharakah Mutanaqisah for Home Financing: The Case of Maybank Islamic and Affin Islamic Bank 为什么伊斯兰银行不愿意为家庭融资提供穆沙拉卡:以马来西亚伊斯兰银行和Affin伊斯兰银行为例
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/A044
Nurul Iffah Binti M A Zaaba, Rusni Hassan
{"title":"Why Islamic Banks Are Reluctant to Offer Musharakah Mutanaqisah for Home Financing: The Case of Maybank Islamic and Affin Islamic Bank","authors":"Nurul Iffah Binti M A Zaaba, Rusni Hassan","doi":"10.26414/A044","DOIUrl":"https://doi.org/10.26414/A044","url":null,"abstract":"his paper focuses on the challenges faced by the Malaysian Islamic Banks in implementing Musharakah \u0000Mutanaqisah (MM) Home Financing. Even though the study is specifically on the Malaysian Islamic banks, but \u0000the issues and recommendations addressed in this study are also pertinent to other Islamic banks across the world since they are also offering it. Drawing upon in-depth semi-structured interviews with the senior officers in two leading Islamic banks in Malaysia, one is the bank which terminated its MM Home Financing products however the other one continues to offer it. Knowing the contradicting perspectives of both banks gives insight of the real challenges faced by them in offering MM for home financing which are advance rental and the system’s incapability to capture the unique nature of MM, and at the same time to know the motivation of offering it i.e. product diversification and comprehensive risk mitigation. This paper concludes by making recommendations that may be adopted by Islamic banks and the regulators to facilitate the promotion of MM Home Financing. Notably, this paper offers empirical findings which are different from the previous literature.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"107 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73505890","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: 8
The Effects of Market Interest Rate on Islamic Indices: A Heterogeneous Panel Data Analysis of Participation 30 Index Companies 市场利率对伊斯兰指数的影响:30家指数公司参与的异质性面板数据分析
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/a042
Salih Ulev, Mucahit Aydin
{"title":"The Effects of Market Interest Rate on Islamic Indices: A Heterogeneous Panel Data Analysis of Participation 30 Index Companies","authors":"Salih Ulev, Mucahit Aydin","doi":"10.26414/a042","DOIUrl":"https://doi.org/10.26414/a042","url":null,"abstract":"The aim of this article is to investigate the influence of market interest rate on Participation 30 index companies. The interest rate of Turkish government bonds traded in the secondary market was used for representing market interest rate. The study uses a panel data of 41 Participation index companies from 2011 to 2017. Using LM bootstrap panel cointegration test, we obtained results showing that the market interest rate affects the stock prices of P30 index companies. This effect is negative for ALBRK, KONYA, BAGFS, KOZAL and PRKME, but positive for all other companies. The least affected company from market interest rate is TTKOM, while the most affected company is LOGO. Moreover, it is noteworthy that 5 of the 10 companies with the lowest long-run coefficient are operating in the construction-raw material industry.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"211 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72823841","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: 1
Islamic Corporate Governance: The Significance and Functioning of Shari’ah Supervisory Board in Islamic Banking 伊斯兰公司治理:伊斯兰监事会在伊斯兰银行中的意义与作用
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/A048
S. Zahid, Imran Khan
{"title":"Islamic Corporate Governance: The Significance and Functioning of Shari’ah Supervisory Board in Islamic Banking","authors":"S. Zahid, Imran Khan","doi":"10.26414/A048","DOIUrl":"https://doi.org/10.26414/A048","url":null,"abstract":"The stability and resilience that Islamic banking (IBs) industry has shown during the current global crisis is based on the principles of Islamic economic laws that rest on equity, participation, and business ethics. The literature on Islamic corporate governance (ICG) is growing quite rapidly and the industry has emerged as an alternative to its conventional counterpart. This paper critically reviews the existing literature on ICG with a particular focus on the significance and functions of Shari’ah supervisory board (SSB), which differentiate IBs from CBs. This review describes ICG framework, elaborates and summarizes SSB functions, compares IBs with CBs and assesses the impact of SSB on IB’s performance. The key findings show that majority of the literature on SSB describes advising and monitoring as the two main functions of a Shari’ah board and past literature supports positive association between Shari’ah governance and the performance of IBs. This work might be helpful for scholars and practitioners approaching this field to study the role and functioning of SSB.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"265 ","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72555279","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: 8
Zamir Iqbal and Abbas Mirakhor. Ethical Dimensions of Islamic Finance: Theory and Practice Zamir Iqbal和Abbas Mirakhor。伊斯兰金融的伦理维度:理论与实践
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/A060
A. Ali
{"title":"Zamir Iqbal and Abbas Mirakhor. Ethical Dimensions of Islamic Finance: Theory and Practice","authors":"A. Ali","doi":"10.26414/A060","DOIUrl":"https://doi.org/10.26414/A060","url":null,"abstract":"","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"9 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78926967","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: 0
Masudul Alam Choudhury. Islamic Financial Economy and Islamic Banking Masudul Alam Choudhury。伊斯兰金融经济和伊斯兰银行
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/BR058
H. Tekin
{"title":"Masudul Alam Choudhury. Islamic Financial Economy and Islamic Banking","authors":"H. Tekin","doi":"10.26414/BR058","DOIUrl":"https://doi.org/10.26414/BR058","url":null,"abstract":"","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"232 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79665343","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
Are Islamic Banks The Alternative to Commercial Banks? 伊斯兰银行是商业银行的替代品吗?
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/A046
Yusuf Dinc
{"title":"Are Islamic Banks The Alternative to Commercial Banks?","authors":"Yusuf Dinc","doi":"10.26414/A046","DOIUrl":"https://doi.org/10.26414/A046","url":null,"abstract":"Islamic banks are financial intermediaries with the claim of being an alternative to commercial banks. Recently a considerable literature has been produced around the theme of whether or not the alternative presented in theory has been reflected in practice. However, these studies are exploratory and interpretative in nature. The quantitative researches presented thus by far provide indirect evidence for the central theoretical issue. To date, very little attention has been paid to the role of the relationship between interest rates and profit-share accruals. These studies have also suffered from shortcomings with regards to the methods applied. The primary aim of this paper is to provide empirical and theoretical evidence to the claim of Islamic banks to be alternative to commercial banks. It does so by investigating the relationship between profit share accruals and deposit rates by employing wavelet coherence method for the first time. This study uses longitudinal monthly data for the 2000 to 2018 period, particularly from Turkey, and provides an exciting opportunity to advance our knowledge about the structure of Islamic banking with focusing specifically on fund supply. The results have revealed that Islamic banks are an alternative to fund suppliers in short-term. In addition long-term maturities had shown a strong alternative characteristic in the pre-2006 period; however, they were unable to preserve it in the post-2006 period after the effectiveness of Banking Act No. 5411. Findings also show bidirectional causalities to be found in different periods. The findings have important implications for the market players and policy makers.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"9 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90155173","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
Muhammad Al Bashir Muhammad Al Amine. Islamic Finance and Africa’s Economic Resurgence 穆罕默德·阿尔·巴希尔，穆罕默德·阿尔·阿明。伊斯兰金融与非洲经济复苏
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2019-02-15 DOI: 10.26414/br062
R. M. Ahmad
{"title":"Muhammad Al Bashir Muhammad Al Amine. Islamic Finance and Africa’s Economic Resurgence","authors":"R. M. Ahmad","doi":"10.26414/br062","DOIUrl":"https://doi.org/10.26414/br062","url":null,"abstract":"","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"15 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2019-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86813933","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: 0
Green Sukuk for Financing Renewable Energy Projects 为可再生能源项目融资的绿色伊斯兰债券
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2018-08-15 DOI: 10.26414/M031
Siti Rohaya Mat Rahim, Zam Zuriyati Mohamad
{"title":"Green Sukuk for Financing Renewable Energy Projects","authors":"Siti Rohaya Mat Rahim, Zam Zuriyati Mohamad","doi":"10.26414/M031","DOIUrl":"https://doi.org/10.26414/M031","url":null,"abstract":"This paper investigates the use of the green sukuk, particularly, for financing the renewable energy projects. More precisely, three case studies have been chosen for discussion. In the first case study, we highlight “Hybrid Sukuk” framework adopted by Tadau Energy Sdn. Bhd. for financing solar photovoltaic (PV) plants. The second case study, we reviewed “Sukuk Wakalah” issued by BEWG (M) Sdn. Bhd., as an ideal solution for water treatment project. Finally, for the third case study, we have discussed in detail about “Sukuk Murabahah” which is being used by Sarawak Hidro Sdn. Bhd. for financing the hydroelectric plant (BAKUN hydroelectric project).","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"466 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2018-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89418854","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: 17
Book Review: Social Capital and Risk Sharing: An Islamic Finance Paradigm 书评:社会资本和风险分担:伊斯兰金融范式
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2018-08-15 DOI: 10.26414/br101
İsa Yılmaz
{"title":"Book Review: Social Capital and Risk Sharing: An Islamic Finance Paradigm","authors":"İsa Yılmaz","doi":"10.26414/br101","DOIUrl":"https://doi.org/10.26414/br101","url":null,"abstract":"","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"1642 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2018-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77726911","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: 0
Minimum Wage and Employment: A Dynamic Heterogeneous Approach for OECD Countries 最低工资与就业:经合组织国家的动态异质性方法
IF 0.3
Turkish Journal of Islamic Economics-TUJISE Pub Date : 2018-08-15 DOI: 10.26414/a069
B. B. Kar, Taha Eğri, Nursena Aksunger
{"title":"Minimum Wage and Employment: A Dynamic Heterogeneous Approach for OECD Countries","authors":"B. B. Kar, Taha Eğri, Nursena Aksunger","doi":"10.26414/a069","DOIUrl":"https://doi.org/10.26414/a069","url":null,"abstract":"The effect of minimum wage on employment is one of the most important matters discussed in economics literature however; the theoretical approaches put forward regarding the impact of minimum wage on employment indicate different outcomes. In this regard, the purpose of this paper is to empirically investigate the effect of minimum wage legislation on employment by employing data for OECD countries over the period 19972017 and to contribute to this literature where consensus has not yet been achieved on the subject. In order to conduct this investigation, the Augmented Mean Group Estimator has been used. According to empirical results, minimum wage legislation increases the employment in the long run for the OECD countries. On the other hand, these results show that a one percent increase in minimum wage leads to an increase of 0.17% in employment rate. Although country-specific coefficients vary between countries because of the institutional and structural characteristics of countries, they are mostly positive. These findings support the modern liberal approach, which suggests that the impact of minimum wage on employment is negligible or positive.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"38 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2018-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82216972","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: 0
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