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Article
Publication date: 6 January 2005

Abd. Ghafar b. Ismail, Roselee Shah Shaharudin and Ananda R. Samudhram

The 1988 Basle regulations are meant to synchronise banking regulations worldwide and add to the stability of the global banking system. Basle II, due to be released in 2006…

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Abstract

The 1988 Basle regulations are meant to synchronise banking regulations worldwide and add to the stability of the global banking system. Basle II, due to be released in 2006, addresses some of the flaws in the 1988 accord. However, both versions do not close a loophole for managing earnings through discretionary adjustments of the loan loss provisions. Some researchers have found indications of income smoothing through loan loss provisions in banks, but others have concluded otherwise. All of these studies were conducted on banks outside of Malaysia. This study looks specifically at Malaysian banks, and uses a model based on bank‐specific and macroeconomic factors that are peculiar to Malaysia. It concludes that Malaysian banks do not smoothen income. The likely reason is that good governance in Malaysian banks is driven more by regulatory measures imposed by the authorities than stock market discipline. Thus bankers do not seem to be concerned with managing earnings to present a rosy picture to investors. However, from a macroeconomic perspective, stacking up loan loss provisions during good times will help to release more credit during downturns in economic cycles, helping to softwn the impact of recessions. Further research on whether Malaysian banks conduct capital management, to meet regulatory capital requirements, will help to shed more light on the behaviour of Malaysian banks.

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Journal of Financial Reporting and Accounting, vol. 3 no. 1
Type: Research Article
ISSN: 1985-2517

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Article
Publication date: 1 January 2002

Abd. Ghafar Ismail and Adelina Tan Be Lay

This study develops a model for loan loss provision which follows the accounting practice in Malaysia. Banks are subject to generally accepted accounting principles (GAAP) in…

832

Abstract

This study develops a model for loan loss provision which follows the accounting practice in Malaysia. Banks are subject to generally accepted accounting principles (GAAP) in disclosing the loan loss provision. However, the expected loan losses factor should also be taken into account to counter unexpected situations. Prior studies show that banks tend to manipulate the loan loss provision through discretionary accruals for income smoothing purposes. Since the loan loss provision is important to banks' income, this study will determine factors that influence the provision. Empirical evidence state that the loan loss provision is positively related to non‐performing loans, loan loss allowance and write‐offs. Estimation results using ordinary least squares regression prove that the banks follow GAAP guidelines, whereby the loan loss provision depends on the beginning balance and the current write‐offs. In addition, the banks should also consider the expected non‐performing loans in providing loan loss provisions. In determining loan losses, the performance of each economic sector should also be considered due to different default risks.

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Asian Review of Accounting, vol. 10 no. 1
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 1 January 2001

Noor Azlan Ghazali

The Asian crisis, which exploded in Thailand in July 1997 initially, spilled to the other ASEAN countries (Indonesia, Malaysia, and Philippines) and later it spreads to Korea and…

715

Abstract

The Asian crisis, which exploded in Thailand in July 1997 initially, spilled to the other ASEAN countries (Indonesia, Malaysia, and Philippines) and later it spreads to Korea and even crossing the continent to Russia and Brazil. The chronological pattern seems to indicate the contagious behaviour of the crisis. However, the sequential economic down‐turns that occurred in the Asia Pacific do look like a contagion effect. The idea that currency speculators contributed to the depth of the crisis is agreeable but to conclude that they are the roots of the problem would be misleading. This paper argued that the roots of the problems lie in current account deficit and loss of competitiveness, and moral hazard and over‐investment This paper also argued that the currency crisis is a symptom and not the cause of the Asian crisis.

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Humanomics, vol. 17 no. 1
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 29 December 2022

Norazlina Abd. Wahab, Rosylin Mohd Yusof, Zaemah Zainuddin, Jamaltul Nizam Shamsuddin and Siti Farah Norbaini Mohamad

This paper aims to provide an overview of research topics and publications produced by Islamic Finance scholars in Malaysia, focusing on six research domains (Shariah-based…

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Abstract

Purpose

This paper aims to provide an overview of research topics and publications produced by Islamic Finance scholars in Malaysia, focusing on six research domains (Shariah-based, Islamic Finance, Islamic Economics, Islamic Accounting, Islamic Management and Halal Management) in five public universities in Malaysia.

Design/methodology/approach

This study seeks to analyse the research gaps and recommend future research based on publications produced by Islamic Finance scholars from five public universities in Malaysia. Data on talents were collected from the MIFER report 2016 and each universities’ website, while research and publications of the talents were collected from Google Scholar and the Scopus database. The extracted data were analysed using bibliometric analysis in VOSviewer version 1.6.15.

Findings

The results show that the five selected universities talents have different research strengths according to six research domains highlighted in MIFER 2021 and Beyond Report. All five universities are found to contribute the least research in Halal Management domain. In view of the increasing prominence of this area of research in the national and international levels, these universities and other universities in Malaysia can generate more research in Halal Economy, Halal Management, and other related areas within this domain. The finding indicated that each university tends to have a strength according to the different domains, and 2019 is the most productive year for Islamic Finance publications. Analysis from productive scholars and co-citations shows that the authors collaborate within the same university to create a different topic for each research cluster.

Research limitations/implications

The bibliometric analysis only captures the general keyword terms, which may be limited to the only generalised sub-research areas.

Practical implications

This bibliometric study, which is based on the expertise of researchers, complements meta-analysis, and qualitative structured literature reviews aid researchers or talents in developing future research directions such as Green economy, Cryptocurrency, Fintech, Halal Management and others. In addition, this is a case study in nature and can serve to enhance understanding the landscape of Islamic finance education and as a reference for practices in institutions of higher learning from around the world.

Originality/value

To the best of the authors’ knowledge, this study is a new research initiative comparing five top programme providers in the field of Islamic finance using a bibliometric approach to enhance talent development and capacity building. With the government’s efforts to further promote Malaysia as the Islamic Financial Hub, this study highlights the research gap in Islamic finance based on scholars’ publications from selected five Malaysian universities and potential topics for future research. This study focuses on the research domain for each university, the trend of publishing, the number of journals published by academics, productive scholars and citations by Malaysian universities, and examines if the publications align with current industry needs.

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Journal of Islamic Accounting and Business Research, vol. 14 no. 5
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 21 August 2021

Suriani Suriani, M. Shabri Abd. Majid, Raja Masbar, Nazaruddin A. Wahid and Abdul Ghafar Ismail

The purpose of this study is to empirically analyze the role of sukuk in the monetary policy transmission mechanism through the asset price and exchange rate channels in the…

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Abstract

Purpose

The purpose of this study is to empirically analyze the role of sukuk in the monetary policy transmission mechanism through the asset price and exchange rate channels in the Indonesian economy.

Design/methodology/approach

Using the monthly data from January 2003 to November 2017, this study uses a multivariate vector error correction model causality framework. To examine the role of sukuk in the monetary policy transmission mechanism through the asset price channel, this study uses the variables of consumption, inflation, interest rates, economic growth and the composite stock price index. Meanwhile, to examine the role of sukuk in the monetary policy transmission mechanism through the exchange rate channel, this study used variables of inflation, interest rates, economic growth, foreign investment and exchange rate.

Findings

This study documented that sukuk has no causal relationship with inflation through asset price and exchange rate channels. Nevertheless, sukuk has a bidirectional causal relationship with economic growth through asset price and exchange rate channels. Sukuk is also documented to have a causal relationship with monetary policy variables of interest rate and stock prices through asset price and exchange rate channels. Finally, a unidirectional causality is recorded running from the exchange rate to sukuk in the exchange rate channel.

Research limitations/implications

The finding of independence of the sukuk market from interest rates provides evidence that the trading of the sukuk in Indonesia has been in harmony with the Islamic tenets.

Practical implications

The relevant Indonesian authorities need to enhance both domestic and global sukuk markets as part of efforts to promote the sustainability of Islamic capital market development in Indonesia.

Originality/value

To the best of the authors’ knowledge, this study is among the first attempts to empirically investigate the role of sukuk in monetary policy transmission through asset price and exchange rate channels in the context of the Indonesian economy.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 7
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 21 November 2022

Aas Nurasyiah, Dhealika Syamputri, Rumaisah Azizah Al Adawiyah, A. Jajang Warya Mahri and Abdul Ghafar Ismail

This paper aims to get an overview and determine the effect of the level of application of Islamic wealth management (IWM) and the level of business continuity of Muslim owners in…

689

Abstract

Purpose

This paper aims to get an overview and determine the effect of the level of application of Islamic wealth management (IWM) and the level of business continuity of Muslim owners in influencing the level of household prosperity of Muslim micro, small and medium enterprise (MSME) owners during the Covid-19 pandemic.

Design/methodology/approach

The method of hypothesis testing is carried out through a quantitative approach. The type of analysis tool used is partial least square-structural equation modeling. The sample used is 212 Muslim MSME owners in Indonesia.

Findings

The results showed that the level of application of IWM, the level of business sustainability and the level of household prosperity of Muslim MSME owners were in the high category. All variables in this study showed positive and significant results.

Research limitations/implications

The research conducted is still limited to households that act as MSME actors, so the respondents who are in it are still not diverse. Also, limited research tools and pandemic conditions led to filling out questionnaires based on respondents’ subjective views and difficulty asking questions when questions were not understood.

Originality/value

This research provides new insights focusing on the relationship between the variable level of application of IWM in influencing the welfare level of Muslim households who have MSMEs, where there is a role for the level of business sustainability as a mediator variable.

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International Journal of Ethics and Systems, vol. 40 no. 1
Type: Research Article
ISSN: 2514-9369

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Article
Publication date: 8 May 2017

Khadijah Mohd Khambali@Hambali, Suraya Sintang, Azarudin Awang, Khairul Nizam Mat Karim, Nur Farhana Abdul Rahman, Wan Adli Wan Ramli, Nurhanisah Senin, Azmil Zainal Abidin, Ahmad Zuhdi Ismail, Wan Zailan Kamaruddin Wan Ali and Ruzman Md. Noor

The main value in a culture of tolerance is wasatiyyah. The fragility of relationships and misunderstanding between Muslim and non-Muslim communities occurs when attention to…

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Abstract

Purpose

The main value in a culture of tolerance is wasatiyyah. The fragility of relationships and misunderstanding between Muslim and non-Muslim communities occurs when attention to values of tolerance which need more attention on moderation was not practiced especially in the life of a new Muslim convert community. Thus, the practice of moderation is one mechanism proposed by the government to ensure a harmonious continuation of life in a religious community can be achieved. For that, a qualitative study design was used to describe the current status of a phenomenon that occurs among new Muslim converts. The purposive sampling method is used to determine the applications of wasatiyyah in new Muslims’ life tolerance at Kota Kinabalu (East Malaysia) and Kuala Terengganu (West Malaysia). Although the study was conducted at two different locations, there is a relationship between religious phenomena that occur in the new Muslims community in Malaysia. The purpose of this study is to see the practical concept of moderation in the life of new Muslims and their relation with Muslims and non-Muslims. The results showed that the value of moderation was applied in the aspect of tolerance. The application of Wasatiyyah in practice of tolerance had helped non-Muslims family members to change their attitudes and perception towards Islam. This study suggests the values of wasatiyyah in the life of religious tolerance, need to be nourished especially in multiethnic society when sharing a living places, education and employment for better social development as well as a well-being pluralistic society.

Design/methodology/approach

The study was conducted through descriptive data qualitative methods. Purposive sampling was used which refers to a group that has the characteristics of samples required by researchers (Mohd Najib Abdul Ghafar 2003). This study applies the method of in-depth interview with the selected new Muslims around Kota Kinabalu (representing East Malaysia) and around Kuala Terengganu (representing Peninsular Malaysia/West Malaysia). Thus, data accumulation involves new Muslims (new Converts) from various ethnics (Sabahan and Sarawakian) which comprise Kadazandusun, Murut, Rungus, Sino and Iban. Secondly, those are from the Peninsular Malaysia which includes Chinese and Indian. Whereas in Kuala Terengganu, data accumulation involves new Muslims from various ethnics (Chinese, Indian, Sarawakian and others). The result of the interview is shown through descriptive narratives which display the practice of tolerance in the form of supportive interaction from the non-Muslim families towards the new Muslims in Islamic lifestyle.

Findings

The concept of wasatiyyah has nurturing tolerance among Muslim, newly Muslim and non-Muslim as well as fostering harmony among the diverse ethnics in Malaysia. Based on the discussion, it was observed that the concept of wasatiyyah had a great influence on the relationship among Muslim, newly Muslim and non-Muslim, as it had a strong link with the value of akhlaq that have been embedded in the Muslim community. The wasatiyyah is the main element that shapes the relationship, and it is the results of interaction with social norms, for it has bred certain social values that include tolerance, compromise, modesty, respect and cooperation as transpired when they (Muslim and newly Muslim) interact among themselves or with other communities. Furthermore, the main goal for the concept is to maintain peace and built well-being in the society as well as bracing racial ties in Malaysia, especially among Muslim, newly Muslim and non-Muslim.

Originality/value

Tolerance is a culture that founded the co-existence of pluralistic society in Malaysia. The culture of tolerance can only be built if ethnic tolerance and religious tolerance is accepted as a common practice – Muslims and non-Muslims alike. The description of wasatiyyah in the practice of religious tolerance among the families of new Muslims is the platform towards the acculturation of tolerance in the societal life from different faith and ethnics. It can be said that the higher the tolerance of ethnic, the higher is the religious tolerance, which is manifested through the application of wasatiyyah between people from different religions. This situation is highlighted in the relations of Muslim, newly Muslim and non-Muslim in Sabah and Terengganu where the culture of tolerance is apparent in the life together. Extensive interaction through encounters, acquaintance and co-existence that shape the friendship, brotherhood and kinship is the best formula in nurturing the culture of tolerance in the pluralistic society of Malaysia. Perhaps, the concept of wasatiyyah may be implemented in the whole aspect of life in the context of Malaysia. It is because the term wasatiyyah has the main sources of Islamic epistemology as well as sustaining the well-being pluralistic society without destroying the differences.

Details

Humanomics, vol. 33 no. 2
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 10 November 2014

Rose Abdullah and Abdul Ghafar Ismail

– This paper aims to study the problems faced by microfinance institutions (MFIs) and relates it with Al-Tawhid to see the solutions.

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Abstract

Purpose

This paper aims to study the problems faced by microfinance institutions (MFIs) and relates it with Al-Tawhid to see the solutions.

Design/methodology/approach

An exploratory method was used to examine various literature that discuss MFIs, the challenge issues growing in tandem with the growth of the microfinance sector and the economic order of MFIs and tries to link it to Al-Tawhid.

Findings

The absence of Al-Tawhid concept in the practice of conventional MFIs caused the practices are not acceptable to Muslim micro entrepreneurs. Hence, the use of Al-Tawhid principles of contract suggested practices that are fair and free from elements of riba and gharar. It relates to the economics order by looking into the aims of providing finance up to reaching the consensus process or shuratic. Cash waqf is suggested as a source of fund for Islamic MFI for sustainability.

Research limitations/implications

The findings need to be supported with empirical study to come up with suitable models.

Practical implications

Alternative sustainable source of funds for the Islamic MFI is suggested.

Social implications

Activating the cash waqf will involve the society in large to contribute to the economic development. The beneficiaries, such as the poor and needy, will be able to find a source of living and be actively involved in generating income activities.

Originality/value

This paper highlights the cause of problems faced by conventional microfinance and relats the Al-Tawhid to overcome those problem conceptually.

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Article
Publication date: 17 February 2025

Mohammad Bintang Pamuncak, Hairunnizam Wahid, Abdul Ghafar Ismail and Tamat Sarmidi

This study aims to discuss literature of zakat collection, particularly to compare what Scopus and Web of Science (WoS), as the two most popular databases, provide to complete the…

2

Abstract

Purpose

This study aims to discuss literature of zakat collection, particularly to compare what Scopus and Web of Science (WoS), as the two most popular databases, provide to complete the pattern and the direction of future research of zakat collection using bibliometric analysis.

Design/methodology/approach

This study collected 266 manuscripts from the Scopus database and 106 manuscripts from the WoS database covering more than three decades from 1987 to the beginning of 2023.

Findings

This study identifies a wider horizon of future research of zakat collection literature. Where Scopus database mostly discusses the connection between the state, government and zakat, meanwhile the WoS database discusses smaller scope of zakat collection, which includes zakat institution and its governance along with behavioural and commitment of zakat payers.

Research limitations/implications

The results imply that future research agenda may include the discussion of state-government-zakat collection policy connection and behavioural and commitment of zakat payers.

Practical implications

The results also imply to widening and deepening the zakat collection. Further, it also implies to administratively to zakat agencies/zakat institution.

Originality/value

To the best of the authors’ knowledge, this study is among the first study (or the first) that compare Scopus and WoS database in the zakat collection literature.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 5 August 2019

Suraiya Ishak, Ahmad Raflis Che Omar, Kartini Khalid, Intan Safiena Ab. Ghafar and Mohd Yusof Hussain

The purpose of this study is to describe cosmetics purchase behavior of young, educated Muslim females in Malaysia and to explore its relationship with certain potential…

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Abstract

Purpose

The purpose of this study is to describe cosmetics purchase behavior of young, educated Muslim females in Malaysia and to explore its relationship with certain potential antecedents.

Design/methodology/approach

This study uses a survey on a sample of female consumers from four higher education institutions in the urban area of Bangi Selangor, Malaysia. From their respective institutions, 150 respondents were selected through the purposive sampling method. Self-administered questionnaire has been used to gather information from the respondents. The survey data were analyzed using descriptive, t-test and correlation analyses to accomplish the study objectives.

Findings

The study indicates that millennial Muslim cosmetic purchase behavior falls under the “Limited Decision Making” classification. The classification is due to the pattern of pro-active behaviors exhibit through the information search for details about ingredients, halal clue, countries of origin, health safety guarantee and the benefits of the cosmetic products. Young, educated female consumers adore branded cosmetic items and show willingness to accept higher prices for the branded items. Despite brand consciousness, they demonstrate a relatively high concern on the halalness of the product. Based on the correlation analysis, all variables were found to be significant and the most significant of them was brand.

Research limitations/implications

Millennial consumers are information technology savvy and have access to vast information about products. As a result, the findings reiterate that millennial consumers demonstrate different purchase behavior, which is worth exploring by future researchers. In addition, other latent antecedents such as religiosity and world view are worth including in future studies.

Practical implications

Cosmetic manufacturers and marketers must ensure that their products signal positive images to fit the expectations of young and educated Muslim consumers. Although brand conscious, such consumers demonstrate prudent behavior in terms of searching for halalan and toyyiban products.

Originality/value

This study adds value in the area of halal product marketing because of two unique focuses. First, it examines the purchase of cosmetic products, which are relatively understudied compared to halal food. Second, it considers the perspectives of educated Muslim millennials, who are expected to demonstrate more specific purchase behaviors than a generalized millennial group. Therefore, the originality of this study revolves around the consideration of these two aspects, which are relevant to contemporary business marketing discussions.

Details

Journal of Islamic Marketing, vol. 11 no. 5
Type: Research Article
ISSN: 1759-0833

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