Search results

This paper aims to derive a compatible Shariah opinion on the permissibility of using cryptocurrencies by Muslims by reviewing the opinions expressed by Shariah scholars on the permissibility of cryptocurrencies.

This is a qualitative desk review research where the opinions expressed by the Shariah scholars on the permissibility of cryptocurrencies and the issues related to it have been analyzed using the literature. All the Shariah parameters checked pertaining to currencies have been studied and assessed to derive the Shariah opinion.

The research findings suggest that cryptocurrencies do not fully meet the characteristics of money according to Shariah principles. Scholars debate their classification as a medium of exchange due to concerns about volatility, intrinsic value and governance. The treatment of cryptocurrencies varies, and their decentralized nature prevents monopolization. Governance and resistance to manipulation are facilitated by blockchain technology. Classifying cryptocurrencies as hard money and their recognition as the primary unit of account face challenges. While they can be a store of value, price volatility and regulations must be considered. The network effect is crucial for their success, and their supply is controlled through complex protocols. These findings have implications for policymakers in Islamic finance.

The differences in Shariah opinions on using cryptocurrencies have been a major debate in the Islamic financial industry. A clear and comprehensive study is not found on the differences in the Shariah opinions on their reasonings, which is important for researchers and professionals in the field. Therefore, this research provides valuable insights for policymakers, scholars and practitioners in Islamic finance, contributing to the understanding of applying Islamic principles to cryptocurrencies.

The present study investigates a nexus between digital public services (DPS) and international tourism empirically.

This article analyzes the nexus of DPS and international tourism by using the international sample of 23 European countries in the span of nearly 10 years from 2011 to 2019. Various econometric techniques, including the panel-corrected standard error (PCSE) model and the feasible generalized least squares (FGLS) model, are employed to confirm the author’s findings. Furthermore, the autoregressive distributed lag (ARDL) method is applied to measure the short- and long-run effects of DPS on international tourism developments.

Tourism is positively influenced by digitalization, implying that the enhancement of digital public service usage results in the development of the tourism industry. However, when looking at the effect of DPS in the short term, a negative impact can be found on tourism, as the density reported in the previous analysis stated a negative response to the tourism density. This effect spans the course of several facets, such as international tourism arrivals, international tourism receipt, international tourism, receipts (% of total exports) and global tourism expenditure (% of total imports). Although the result is unfavorable in the short term, digitalization promises great prospects for tourism in the long term. Notably, an improvement in economic growth, financial development as well a reduction in the pervasiveness of corruption and an improvement of environmental quality are transmission channels through which DPS have favorable influences on tourism activities.

The author’s findings are vital for managers and policymakers to establish a comprehensive grasp of digitalization's role in deciding tourist adoption. This is because digitalization has been proven to play a role in determining tourism adoption.

The present study is the first to examine the relationship between DPS and international tourism empirically. The author is also the first to distinguish the effects of digitalization in the short and long run.

The primary objective of this study is to conduct a comprehensive literature review focused on the concept of service quality within the healthcare sector. This research aims to categorize and analyze the various dimensions associated with service quality.

The systematic literature review methodology was employed to accomplish current study goals, and specific criteria were utilized to select relevant research articles spanning the years from 2000 to 2023. Ultimately, 57 articles met the criteria and were included in the study.

Through a meticulous review of selected articles, our research identified and categorized 29 distinct measures for evaluating service quality in the healthcare sector. These measures were further grouped into five overarching categories, namely: overall service quality, personal characteristics, healthcare facility administration, patient attributes and the servicescape. Our investigation highlighted that the dimensions commonly utilized to assess service quality in healthcare primarily draw from the SERVQUAL framework. Additionally, there is significant emphasis on measurements related to the physical environment's quality, overall patient satisfaction and behavioral intention.

This review offers original value by synthesizing diverse literature on healthcare service quality, highlighting SEVQUAL dimensions and critical variables used for assessment. It provides insight into the subjective nature of service quality and varied sampling methods and contributes to enhancing service quality and patient satisfaction in healthcare settings.

This paper aims to predict Dogecoin price by using artificial intelligence (AI) methods and comparing the results with the econometrics models.

An artificial neural network (ANN) was applied as a prediction method without any optimization techniques. Additionally, the genetic algorithm (GA) is used to select the most appropriate input variables. Additionally, based on the literature review and the relationships between crypto-price and global indices, 20 economic indicators, such as Coinbase Bitcoin, Coinbase Litecoin and US dollars, along with main global stock indices such as FTSE100 and NIFTY50, are identified as input variables for the model. Lichtenberg algorithm (LA) and aquila optimization (AO) algorithm are used to make the ANN more robust. To validate our algorithms, they have been implemented on daily data for the last three years. To demonstrate the superiority of the models over traditional methods such as econometrics, regression analysis and curve fitting techniques are used. The effectiveness of these models is then evaluated and compared using criteria such as recall, accuracy and precision.

The results indicate that AI-based algorithms not only enhance the accuracy, recall and precision of calculations but also expedite the process without requiring the numerous and restrictive assumptions associated with time series and econometric models.

The main contribution of this paper is the application of novel approaches such as AO and LA to improve the predictive capabilities of the ANN method for various cryptocurrencies’ prices. It demonstrates the superiority of the proposed algorithms over traditional econometric models using real-life data.

This study aims to investigate the intentions of Muslim cryptocurrency (CC) holders to fulfil their zakat obligations on digital assets, exploring the unique motivations and barriers within this emerging financial landscape.

The research uses a quantitative approach and a cross-sectional research design through online surveys, using purposive sampling to gather data from Muslim CC holders. The integrated model, known as the theory of planned behaviour and social cognitive theory (TPB-SCT) model, is used to comprehensively analyse the key factors influencing intentions to pay zakat on cryptocurrencies (CCs).

The study reveals that attitude towards zakat on CCs and perceived behavioural control regarding zakat on CCs have a significant and positive effect on the intention to pay. In contrast, subjective norms show no significant influence. CCs-related financial risk exerts a negative impact on intention. Moreover, CCs-related zakat knowledge and adherence to Shariah compliance are strongly associated with intention. These findings provide insights into the intricate dynamics of religious compliance within the evolving realm of digital assets.

Outcomes offer profound indications to stakeholders, including financial institutions, zakat agencies, policymakers and the community, on how to integrate zakat into this new and rapidly evolving financial paradigm like CC.

A pioneering effort was made in this study by exploring the intentions of Muslim CC holders to fulfil zakat obligations, bridging a significant gap in the existing literature. Developing and validating an integrated model of TPB-SCT in the realm of zakat on CC enriches the literature with a novel theoretical framework.

This study aims to understand the relationship between social audit (SA) and sustainable corporate social responsibility (SCSR). Furthermore, this study will investigate the mediating effect of corporate social innovation (CSI) on the relationship between SA and SCSR and the moderating impact of community participation (CP) on the relationship between CSI and SCSR.

This research was conducted in Odisha, a state in India, with 448 respondents and a response rate of 89%. The convenience sampling technique was used, and questionnaires were prepared in English and translated into regional languages during data collection. Psychological separation and Harman’s single-factor test were used to avoid common method bias. Exploratory factor analysis and confirmatory factor analysis were performed step by step to validate the proposed model.

The current study indicates that SA positively impacts SCSR. Findings from the analysis show that CSI partially mediates the relationship between SA and SCSR. Furthermore, this study indicates that CP moderates the relationship between CSI and SCSR.

This study is one of its kind concerning the variables considered, and it can work as a stepping stone for upgrading the delivery mechanism for corporate social responsibility (CSR) programs, which can solve the fundamental problems faced in society more effectively. It will provide new paths for future researchers to study in the area of audit and CSR.

The development of financial technology (fintech), especially digital payments (e-payments), aims to increase the efficiency and effectiveness of economic transactions. This study aims to see the extent to which microentrepreneurs in Indonesia and Malaysia take advantage of the existence of e-payments in developing their business and the factors that influence the adoption of e-payments.

This study uses qualitative and quantitative approach. For quantitative approach, partial least squares structural equation modeling (PLS-SEM 4.0) was used to analyze the data. Using the nonprobability convenient sampling technique, this study collected 400 respondents from microenterprises in Indonesia and Malaysia in various regions.

Most of the microentrepreneurs in Indonesia and Malaysia have used fintech platforms, especially e-wallet and ATM debit. However, for quick response code-based fintech for business transactions, most microentrepreneurs have not taken advantage of the platform. Then the results of the digital payment adoption factor also differ for each country.

This study is valuable for decision-makers and regulators. These results can be used to find a roadmap for regulators to build a digital economy, especially digital payments for microenterprises in both countries. In addition, these results can be used as a basis for making policies regarding digital payments.

To the best of the authors’ knowledge, this is the first study to compare e-payment adoption by microentrepreneurs in Indonesia and Malaysia. Indonesia and Malaysia are two countries in the Southeast Asia region that have great attention in fintech development. This study provides new insights about fintech, especially digital payments as a strategic approach in the digitalization era.

Due to increasing interest in sustainability, consumers prioritize environmentally friendly consumption across various service sectors. This study aims to examine how environment-related attributes of food delivery services affect customer behavior. Specifically, the authors use the stimulus-organism-response framework to explore how environmentally friendly food packages correlate with customers’ environmental support and patronage behavior.

The authors collected data from US food delivery service customers. To test the hypotheses, the authors used partial least squares structural equation modeling.

The authors find that customers’ perceptions of the environmental friendliness of food packages influence their satisfaction and trust, which in turn affect their environmental support and patronage behaviors. Also, customers’ trust and satisfaction mediate the relationship between their food consumption experience and its outcomes. The authors further explore demographic factors that influence the proposed relationships.

Due to the popularity of food delivery services, this study has theoretical and practical implications for restaurant service providers and highlights the potential of environmentally friendly packaging to increase both environmental support and loyal behavior.

Financial inclusion is acknowledged as a critical facilitator of the United Nations Sustainable Development Goals agenda for 2030. Therefore, this study aims to examine the asymmetric role of overall globalization on financial inclusion by controlling economic growth, urbanization and population for the selected South Asian countries.

Applying the nonlinear autoregressive distributed lag approach to cointegration explores the impact of overall globalization on financial inclusion in the presence of additional variables like economic growth, urbanization and population in the designed financial inclusion function.

The estimated econometric outcomes show that increasing overall globalization fosters financial inclusion while decreasing overall globalization reduces financial inclusion. Furthermore, a positive (negative) change in economic growth leads to an increase (decrease) in financial inclusion while varying short-run findings. Moreover, both positive and negative changes increase financial inclusion in the long run in connection with urbanization. Although the short-run results are not significant, the study finds that an increase (decrease) in population leads to a decrease (increase) in financial inclusion. Finally, to support the promotion of financial inclusivity throughout South Asia, several policies pertaining to financial inclusion are suggested.

To the best of the authors’ knowledge, this is the first study to examine the asymmetries related to overall globalization on financial inclusion by controlling economic growth, urbanization and population.

This study aims to learn how a three-way interaction moderation model is used to analyse the role of country-specific characteristics, in the form of the implementation of Sharia law and legal origin in a particular country, in the choice of sukuk type.

The firm profitability and firm leverages of sukuk issuer are used as the firm characteristics that can influence the choice of sukuk type between Mudharaba sukuk, Ijara sukuk and Murabaha sukuk. The research sample of 545 global sukuk issuances, obtained from the IIFS database, includes the issuance of Mudharaba sukuk, Ijara sukuk and Murabaha sukuk from ten sukuk issuer countries all over the world.

The research results show that the probability of choosing Mudharaba and Ijara sukuk is found in issuers sukuk with a high firm leverage, while the probability of choosing Murabaha sukuk is found in issuers sukuk with a high firm profitability. A three-way interaction moderation model is used in this research to explain that sukuk issuers in countries that implement Sharia law and adopt a legal origin common law system will have a higher choice of Mudharabah and Ijarah sukuk types if the firm’s leverage is high. If the firms’ profitability is high, then the sukuk issuer prefers Murabaha sukuk.

The use of firm’s characteristic variables is based solely on trade-off theory and pecking order theory. Also, limitations on the implementation of Sharia law in countries that do not provide opportunities for countries that apply a mixed law system.

The role of Sharia law and common law legal origin is proven, through a three-way interaction model, to strengthen the interaction of the firm leverage and choice of Mudharaba sukuk.

Legal certainty for Islamic financial institutions is created in the context of ease of investing in sukuk. Flexibility in the structure is also one of the factors that encourage the development of market acceptance of sukuk. The right structure of the sukuk can be used for specific target markets.

There has been no study carried out on a three-way interaction moderation model used to analyse the role of country-specific characteristics. The role of Sharia law and common law legal origin is proven, through a three-way interaction model, to strengthen the interaction of the firm leverage and choice of Mudharaba sukuk.