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Available. Open Access. Open Access
Article
Publication date: 4 August 2021

Pg Mohd Faezul Fikri Ag Omar, Haneffa Muchlis Gazali, Mohd. Nasir Samsulbahri, Nurul Izzati Abd Razak and Norhamiza Ishak

The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat contributes…

3506

Abstract

Purpose

The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat contributes significantly to the country’s socio-economic development and prosperity. However, in Malaysia and other Islamic countries, there is not yet a proper mechanism for calculating zakat on extracted minerals. Similar to gold and silver, oil and gas are valuable minerals, which, upon extraction, are subject to zakat payment. In Malaysia, however, this is not the case.

Design/methodology/approach

This study uses a qualitative method. It presents a thorough review on the stipulation for paying zakat on minerals, specifically oil and gas. The deliberation is based on secondary data entailing a comprehensive content analysis of prominent books on the subject, current zakat rulings and legal acts on oil and gas.

Findings

Oil and gas are subject to zakat payment, as indicated in several Qurʾānic verses and based on the academic reasoning of Muslim scholars. The zakat calculation for oil and gas entails the nisāb (minimum threshold value of the assets) but not the ḥawl (the requirement for one full Islamic year of ownership for the assets), by analogy with zakat on agricultural produce. Despite the obligation to pay zakat on minerals under the zakāt al-māl (alms due on wealth) category, oil and gas is yet to be fully subject to this practice in Malaysia, although the country is known as an oil-producing Muslim country. Several legislative acts covering the managerial and business side of oil and gas operations have long been established, but the provision on zakat remains unclear. Hence, comprehensive legislation is needed to fine-tune the Malaysian oil and gas system, particularly with regard to zakat.

Research limitations/implications

This study relies mainly on secondary data and literature without performing any empirical investigations.

Practical implications

In terms of academic implication, this study enriches the existing body of knowledge on zakat. Practical implications would include enhanced decision-making concerning zakat on oil and gas on the part of zakat institutions, policymakers and the government of Malaysia.

Originality/value

This study provides practical and academic contributions to the deep understanding of zakat on oil and gas, which has received very little attention in the existing body of literature. Despite being limited in literature, this is a breakthrough study that sheds light on zakat on oil and gas.

Details

ISRA International Journal of Islamic Finance, vol. 13 no. 3
Type: Research Article
ISSN: 0128-1976

Keywords

Available. Content available
Book part
Publication date: 25 April 2022

Free Access. Free Access

Abstract

Details

Sustainability Management Strategies and Impact in Developing Countries
Type: Book
ISBN: 978-1-80262-450-2

Available. Open Access. Open Access
Article
Publication date: 26 November 2020

Maizaitulaidawati Md Husin and Razali Haron

This paper aims to attempt to first examine the competitiveness of micro, small and medium-sized enterprises (MSMEs) in the logistics industry; second, to identify the MSMEs’…

9395

Abstract

Purpose

This paper aims to attempt to first examine the competitiveness of micro, small and medium-sized enterprises (MSMEs) in the logistics industry; second, to identify the MSMEs’ perception towards takāful (Islamic insurance); third, to recognise the challenges in the adoption of takāful; and fourth, to suggest strategies to enhance the micro-takāful penetration rate.

Design/methodology/approach

The SWOT (strengths, weaknesses, opportunities and threats) analysis was used to measure the MSMEs’ competitiveness. Interview sessions were conducted with 13 owners of MSMEs in the logistics industry from the period November 2018 until January 2019 in Selangor, Malaysia.

Findings

The SWOT analysis identified several strengths (e.g. advanced infrastructure, rising number of new entrants and contribution to the local economy), weaknesses (e.g. lack of digital culture and training and a dearth of expertise), opportunities (e.g. supportive government initiatives and evolution of the mobile internet) and threats (e.g. changing customer expectations and limited financing facilities). The MSMEs’ perception towards micro-takāful and challenges in the adoption of takāful were also identified.

Research limitations/implications

This paper provides an understanding of the MSMEs’ perception towards micro- takāful products, sheds light on the challenges faced by MSME owners in protecting their businesses from risk exposures and offers strategies to enhance the micro- takāful penetration rate. This study, however, is limited to Malaysia’s experience.

Practical implications

The identification of MSMEs’ SWOT will be useful for these businesses as it provides solid information that can be used to improve business performance while also seeking takāful protection. This paper, other than serving as a guideline for stakeholders in the logistics industry to have a better understanding of their business environment, may also provide useful insights to practitioners and policymakers.

Originality/value

This paper integrates the SWOT analysis into a study on business risk exposure and takāful protection from the MSMEs’ perspective. Hence, the findings could broaden available knowledge on MSMEs, especially for businesses in the logistics industry. The knowledge may also facilitate matters for takāful operators interested in tapping into the market.

Details

ISRA International Journal of Islamic Finance, vol. 12 no. 3
Type: Research Article
ISSN: 0128-1976

Keywords

Available. Content available
Book part
Publication date: 11 December 2023

Abstract

Details

Higher Education in Emergencies: Best Practices and Benchmarking
Type: Book
ISBN: 978-1-80117-379-7

Available. Open Access. Open Access
Article
Publication date: 15 June 2021

Norazlina Abd. Wahab, Selamah Maamor, Zairy Zainol, Suraiya Hashim and Kamarul Azman Mustapha Kamal

This paper aims to develop the best practices of Islamic estate planning for Muslims. Islamic estate planning is a fixed proposal for the management and outlook of an individual’s…

5245

Abstract

Purpose

This paper aims to develop the best practices of Islamic estate planning for Muslims. Islamic estate planning is a fixed proposal for the management and outlook of an individual’s assets throughout their life and upon their passing, created by means of existing Islamic estate planning tools, for instance, farāʾiḍ (inheritance), waṣiyyah (will), hibah (gift) and waqf (endowment).

Design/methodology/approach

The paper used an interview method to obtain information on the best practices of Islamic estate planning. Semi-structured interviews were conducted with the respondents and estate planning providers in the northern region of Peninsular Malaysia. The data gathered was analysed using thematic analysis which involved five phases to construct the best practices of Islamic estate planning.

Findings

The paper identifies important elements in Islamic estate planning. The elements were outlined as the crucial things that Muslims should do to plan for intergenerational transfer and earning a good share in the hereafter.

Research limitations/implications

The first limitation of the paper is that the best practices were developed based on a qualitative method. There is no evidence of its validity, which is a gap that can be explored in the future. Second, it involves the perceptions of two types of respondents (individuals and Islamic estate planning providers), which may be broadened to other related stakeholders such as regulators, in future studies.

Originality/value

This paper presents a framework of best practices of Islamic estate planning, it being one of the first studies to do so, which is not only useful and relevant for Malaysian Muslims but also for Muslims in other countries.

Details

ISRA International Journal of Islamic Finance, vol. 13 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Available. Open Access. Open Access
Article
Publication date: 25 October 2021

Yaser Gamil and Ismail Abd Rahman

The purpose of this paper is to develop a structural relationship model to study the relationship between causes and effects of poor communication and information exchange in…

19636

Abstract

Purpose

The purpose of this paper is to develop a structural relationship model to study the relationship between causes and effects of poor communication and information exchange in construction projects using Smart-PLS.

Design/methodology/approach

The first method of this research is to identify the causes and effects factors of poor communication in construction projects from the extant of literature. The data used to develop the model was collected using a questionnaire survey, which targeted construction practitioners in the Malaysian construction industry. A five-point Likert type scale was used to rate the significance of the factors. The factors were classified under their relevant construct/group using exploratory factor analysis. A hypothetical model was developed and then transformed into Smart-PLS in which the hypothetical model suggested that each group of the cause factors has a direct impact on the effect groups. The hypothesis was tested using t-values and p-values. The model was assessed for its inner and outer components and achieved the threshold criterion. Further, the model was verified by engaging 14 construction experts to verify its applicability in the construction project setting.

Findings

The study developed a structural equation model to clarify the relationships between causes and effects of poor communication in construction projects. The model explained the degree of relationships among causes and effects of poor communication in construction projects.

Originality/value

The published academic and non-academic literature introduced many studies on the issue of communication including the definitions, importance, barriers to effective communication and means of poor communication. However, these studies ended up only on the general issue of communication lacking an in-depth investigation of the causes and effects of poor communication in the construction industry. The study implemented advanced structural modeling to study the causes and effects. The questionnaire, the data and concluding results fill the identified research gap of this study. The addressed issue is also of interest because communication is considered one of the main knowledge areas in construction management.

Details

Journal of Facilities Management , vol. 21 no. 1
Type: Research Article
ISSN: 1472-5967

Keywords

Available. Open Access. Open Access
Article
Publication date: 18 April 2022

Michael Sony, Jiju Antony and Olivia Mc Dermott

Industry 4.0 (I 4.0) consists of numerous digital technologies applied in organizations strategically to add value to the customer. Different organizations have varying degrees of…

6632

Abstract

Purpose

Industry 4.0 (I 4.0) consists of numerous digital technologies applied in organizations strategically to add value to the customer. Different organizations have varying degrees of technological capability and strategic flexibility. This paper aims to explore the relationship between technological capability and strategic flexibility on successful implementation of I 4.0.

Design/methodology/approach

A qualitative study using a grounded theory approach is conducted on 34 senior managers from Europe and North America who have implemented I 4.0 participated in this study through a theoretical sampling frame.

Findings

This study finds that technological capability and strategic flexibility have an impact on the successful implementation of I 4.0. The study also finds that different dimensions of technological capability also impact I 4.0. The interactive effect of strategic flexibility and technological capability is also noted. The study also develops a framework for successful implementation of I 4.0.

Practical implications

This study can be used by managers while implementing I 4.0 to devise a strategic roadmap for acquiring technological capability with I 4.0 technologies. Besides, it will help the managers to consider the bidirectional relationship between technological capability and strategic flexibility while formulating I 4.0 strategy for successful implementation of I 4.0 in their organizations.

Originality/value

Previous studies have examined the importance of I 4.0 technologies. However, this study extends the previous works by suggesting how technological capability and strategic flexibility can help in the successful implementation of I 4.0.

Details

Benchmarking: An International Journal, vol. 30 no. 3
Type: Research Article
ISSN: 1463-5771

Keywords

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