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Article
Publication date: 9 May 2022

Nahariah Jaffar, Abdul Aziz Aziz Ahmad and Noor Adwa Sulaiman

The purpose of this study was to investigate the level of technology readiness (TR) of the Muslim and non-Muslim external auditors and its effect on their data analytics…

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Abstract

Purpose

The purpose of this study was to investigate the level of technology readiness (TR) of the Muslim and non-Muslim external auditors and its effect on their data analytics competencies (DACs). Literature is insufficient in addressing the comparative analysis of these constructs among these auditing professionals.

Design/methodology/approach

A survey was conducted on 201 external auditors. Questionnaire was developed based on TR and DAC literature. Pilot testing was conducted on 50 respondents, who were drawn from the sample.

Findings

Non-Muslim external auditors were found to be more technology ready than Muslim external auditors. The optimum dimension of TR was significantly different between Muslim and non-Muslim external auditors. Significant mean difference was found only for personal capabilities dimension of DAC between Muslim and non-Muslim external auditors. TR had a significant effect on Muslim external auditors’ personal capabilities dimension of DAC; however, there was insignificant effect on all DAC dimensions for non-Muslim external auditors. The highest DAC score of the external auditors were only at the beginner level for technical skills and technologies and tools expertise dimensions.

Research limitations/implications

Using students as proxies for external auditors could lead to concerns with generalisability. Nonetheless, these students were competent to act as proxies as they had completed a six-month internship at an accounting firm.

Practical implications

The findings manifested the need for Muslim external auditors to be more technology ready. External auditors need to enhance their DAC to meet digital economic needs.

Originality/value

This study advocated the importance for auditing professionals to acknowledge the new data analytics challenges.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 6
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 6 April 2021

AbdulLateef Olanrewaju, Yien Yen Tan and See Ning Soh

The successive Malaysian government aims to provide housing to households earning the median income and below. However, there has been continuous criticism and complaints from the…

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Abstract

Purpose

The successive Malaysian government aims to provide housing to households earning the median income and below. However, there has been continuous criticism and complaints from the media and literature on the magnitude of the defects in affordable housing. Therefore, this research has investigated the defects in affordable housing for the users’/occupants' perspectives.

Design/methodology/approach

With a response rate of 69%, the research developed a questionnaire instrument that included twenty-one defects in buildings based on literature and observation. These were scored on a 5-point Likert scale ranging from very common to least common. Twelve causes of defects measured on a five-point scale were included in the survey. Thirteen additional items that had to do with remedial actions to reduce defects were included. These were scored on a 5-point Likert scale ranging from strongly agree to least agree. The survey forms were administered to all the 152 home occupants in a Program Perumahan Rakyat (PPR) housing estate through hand delivery in a northern state in Malaysia.

Findings

The data revealed that broken doors, damaged roofs, damp walls and broken tiles in rooms were the most common defects in the housing development. It was found that defects in the buildings were caused by poor workmanship, defective materials, poor designs and bad weather. Additionally, to rectify the defects, adequate supervision is required during maintenance, the repairs must be conducted on time and there is a need to have competent maintenance organisations. Through factor analysis, the 21 defects were structured into six factors, the 12 causes were grouped into 5 factors and the 13 remedial actions were grouped into 6 factors.

Practical implications

The information on the nature, degree and kinds of defects from the users' perspectives will dictate when repair work is to be undertaken and allow future work to be programmed and financed as part of a maintenance rolling programme.

Originality/value

This research focused specifically on “Program Perumahan Rakyat” housing development. Furthermore, none of the previous research on defects conducted attempted to categorise the defects in the buildings. The categorisation is very important for systemic decision-making because there are continuous interactions amongst the defects, causes and remedial actions.

Details

International Journal of Building Pathology and Adaptation, vol. 40 no. 4
Type: Research Article
ISSN: 2398-4708

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Book part
Publication date: 26 August 2019

Safinar Salleh, Akmal Hidayah Halim, Uzaimah Ibrahim and Mohamad Asmadi Abdullah

A family takaful certificate is subscribed by a takaful participant for the purpose of preparing financial support for his dependants after his death. The takaful benefits could…

Abstract

A family takaful certificate is subscribed by a takaful participant for the purpose of preparing financial support for his dependants after his death. The takaful benefits could then be made payable to a nominee named as the beneficiary under conditional hibah (gift). In this respect, the participant is free to decide to whom the benefits are to be given since the law is silent as to the criteria of the beneficiary. This situation gives rise to the issue on whether such a practice fulfils the objectives of Sharīʿah, especially when the nominated beneficiary is not the sole dependant of the deceased participant. Therefore, this research aims to evaluate the status of family takaful benefits, analyse the rules of conditional hibah from the Sharīʿah perspective and propose solutions whenever necessary. The research adopts doctrinal analysis by examining existing primary and secondary materials including statutory provisions and other legal and non-legal literatures. The study predicates that the application of conditional hibah to the whole benefits does not reflect the objectives of Sharīʿah if determination on the status of the benefits is solely based on the nomination made by the participant. It is observed that takaful benefits payable from the Participant’s Account should be considered as the deceased’s estate and must be distributed according to fara’id or Islamic law of inheritance. Conversely, the sum covered payable from the Participant’s Special Account may be paid to the deceased’s dependants whose criteria are determined by the Sharīʿah Advisory Council as the highest authority in Islamic financial matters.

Details

Emerging Issues in Islamic Finance Law and Practice in Malaysia
Type: Book
ISBN: 978-1-78973-546-8

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Article
Publication date: 14 October 2019

Ruzita Abdul-Rahim, Adilah A. Wahab and Nor Amalina Yusoff

The purpose of this paper is to investigate whether the shariah-compliant status of the firms negatively influences their use of foreign exchange hedging instruments.

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Abstract

Purpose

The purpose of this paper is to investigate whether the shariah-compliant status of the firms negatively influences their use of foreign exchange hedging instruments.

Design/methodology/approach

This paper uses a logit panel regression on 350 firm-year observations from 70 nonfinancial listed firms over the period from 2010 to 2014. Shariah-compliant companies account for about 84 per cent of the sample firms.

Findings

Preliminarily, the results show that none of the samples of the shariah-compliant firms report any use of Islamic hedging instrument, either in the form of wa’d or tawarruq. The results of the study’s logit panel regression contradict the authors’ prediction that the shariah-compliant status negatively influences firms’ decision to hedge. In contrast, shariah-compliant companies are twice as likely as their conventional counterparts in adopting forex hedging.

Research limitations/implications

This study is limited to information disclosed in the items 31, 36 and 37 of financial management policies in the annual report. However, given that shariah-compliant firms must abide by the limit of 5 per cent profits before tax from clearly prohibited activities (including riba’), the need for exclusive disclosure on the adoption of Islamic or conventional hedging appears to be imperative for the viability of the Malaysian Islamic capital market.

Practical implications

In evaluating the shariah compliance of a company, investors (individual or institutional) must look further than just interest-based riba’ in mixed-business companies to ensure that they comply with the 5 per cent maximum requirement on the non-halal business contribution to profit. This is because the finding of this study indicates that shariah-compliant companies are twice as likely to adopt forex hedging, when none of them reports the use of Islamic hedging tools. Investors must therefore give ample allowance to riba’ that can be induced through the use of conventional forex hedging instruments. This is until the security market regulator imposes a requirement on shariah-compliant companies an explicit disclosure of the use of Islamic versus conventional hedging tools, as they had done in the case of Islamic versus conventional debt instruments.

Social implications

Muslim and socially responsible investors rely on the Shariah-compliant status of the company in ensuring that their wealth grows according to the Shariah principles. To sustain and develop the Islamic capital market which the firms have been relying on for external capital, Shariah-compliant firms and the authority awarding the status are equally responsible for honoring the trust that these investors by ensuring the permissibility (halal) of the business and the conduct of their business.

Originality/value

Conventional forex hedging instruments are criticized for violating as-sarf, a shariah principle, which requires the exchanges of particular assets (gold, silver and currency) to be delivered on the spot, and thereby infusing riba’ al-fadhl. Although Islamic (wa’d- or tawarruq-based) hedging instruments are widely available by Islamic banks in this country since they were introduced by Bank Negara Malaysia in 2010, paradoxically, the authors’ observation indicates that none of the studied firms reports the adoption of these instruments in their annual reports.

Details

Journal of Islamic Accounting and Business Research, vol. 10 no. 5
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 29 November 2019

Hanif Abdul Rahman, Amin Abdul Aziz, Muhamad Adib Ibrahim, Noor-Arpah Suhaili, Ahmad Zahid Daud and Lin Naing

The purpose of this paper is to develop and validate the Islamic Governance Examination tool (IGET) in applicability to the healthcare setting.

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Abstract

Purpose

The purpose of this paper is to develop and validate the Islamic Governance Examination tool (IGET) in applicability to the healthcare setting.

Design/methodology/approach

A cross-sectional study using IGET, developed by a panel of expert and extensive literature, which measures Islamic governance (IG) domains – Tauhid, Juristic, Values and Culture. Health and allied health professionals from the largest hospital in Brunei were recruited to establish validity and reliability of the instrument. Structural equation modelling (SEM) was applied to explore the relationship of the IG domains.

Findings

Content validity and construct validity were established with good internal consistency reliability (Cronbach’s α ranged 0.835–0.953). SEM supports the conceptual model and demonstrated potential to improve quality of health services. By articulating internal and organisational processes put in place for compatibility of Muslim patients and accommodating incumbent form of healthcare governance.

Originality/value

To the authors’ knowledge, this is the first study developing, validating and exploring IG components in healthcare setting. Usage of IGET should be cross-validated in different disciplines and settings before application. Nonetheless, IG as a whole need to be developed further to create healthcare environment compatible for Muslim patients and complement current health services to improve health service quality for everyone.

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Article
Publication date: 25 January 2023

Ram Al Jaffri Saad, Aidi Ahmi, Norfaiezah Sawandi and Norazita Marina Abdul Aziz

This study aims to identify the inputs from zakat administrators and experts needed for more efficient and effective zakat revenue generation.

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Abstract

Purpose

This study aims to identify the inputs from zakat administrators and experts needed for more efficient and effective zakat revenue generation.

Design/methodology/approach

Face-to-face interviews with zakat executives, administrators and experts are conducted to collect data.

Findings

The findings show three components of input required in the zakat transformation: environment, resources and history. The environmental component comprises five sub-components: companies, banks, zakat recipients, individual zakat payers and the legislative, while the resource sub-components comprise tangible and intangible resources. For history, two components, namely, achievements and challenges, need to be taken into account by the zakat administration.

Research limitations/implications

This study’s main implication is that the components proposed in this study can serve as the basis for developing new strategies for improving zakat collection and distribution management to achieve a more efficient and effective level.

Practical implications

This study will be helpful for policymakers, especially zakat authorities, on how to enhance their administration.

Originality/value

The model developed in this study will help the zakat administration to reform and enhance zakat compliance and zakat revenue generation.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 8
Type: Research Article
ISSN: 1759-0817

Keywords

Available. Open Access. Open Access
Article
Publication date: 4 December 2017

Hamim Syahrum Ahmad Mokhtar, Izwayu Abdul Aziz and Noraziyah Md Hilal

This study on corporate demand for general takāful (Islamic insurance) aims to identify potential growth areas and areas for improvement in takāful business practices in Malaysia.

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Abstract

Purpose

This study on corporate demand for general takāful (Islamic insurance) aims to identify potential growth areas and areas for improvement in takāful business practices in Malaysia.

Design/methodology/approach

A survey on corporates’ protection needs, takāful/insurance coverage obtained and awareness on takāful/insurance was conducted for this paper.

Findings

The findings from the survey are as follows: There is potential for takāful operators to further penetrate the corporate sector, as the majority of respondents indicated willingness to spend on takāful/insurance. Emphasis on takāful value propositions apart from its Sharīʿah compliance status is needed to attract corporates, as respondents were found to be indifferent on Sharīʿah compliance status of their protection. Strong market presence, expanded product offerings and efficient services were key determinants to attract takāful subscription. Respondents’ heavy reliance on intermediaries warrants strong collaboration with intermediaries to widen market outreach. The small and medium enterprises segment appeared promising, as it is found to be underserved despite having higher propensity to obtain takāful/insurance coverage compared to the overall respondents.

Research limitations/implications

This study is limited to Malaysia’s experience. The findings are indicative (though they may not be conclusive) of the target segment as well as the takāful industry as a whole.

Originality/value

The insights on respondents’ considerations when obtaining takāful/insurance coverage and the correlation of these factors with respondents’ characteristics can assist takāful/insurance providers in structuring products and business strategies to better serve this market segment. The paper may also aid discussions among researchers and regulators on areas for further development of the industry.

Details

ISRA International Journal of Islamic Finance, vol. 9 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Available. Open Access. Open Access
Article
Publication date: 11 November 2021

Raja Aishah binti Raja Adnan, Mahazan Abdul Mutalib and Muhammad Ridhwan Ab Aziz

This research paper aims to determine the factors needed to propose a platform where waqf (Islamic endowment) organizations can collaborate with government public hospitals to…

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Abstract

Purpose

This research paper aims to determine the factors needed to propose a platform where waqf (Islamic endowment) organizations can collaborate with government public hospitals to develop corporate waqf hospitals. Consequently, the elements of governance and sustainability are included in the management of corporate waqf hospitals thereby leading to the corporatization of public hospitals.

Design/methodology/approach

This study adopts the qualitative research methodology and undertakes content analysis of data collected from journal articles, magazines and official websites. Data analysis involves open coding with NVivo 12.

Findings

General findings from the literature review have shown that architectural and engineering fundamentals were essential factors in the success of past waqf hospitals of the era between 8th and 14th centuries. In that era, the decentralized waqf-based hospitals employed the mutawalli (the trustee/manager of the waqf assets) to govern the administration of the hospitals. Present corporate waqf hospitals can exploit the elements identified from past waqf-based hospitals and additionally adopt the private-public partnership model in the form of a muḍārabah (profit-sharing contract) agreement to design a sustainable waqf governance model for Malaysian public healthcare services.

Research limitations/implications

The proposed platform is designed for a corporate waqf model developed in collaboration between Malaysian waqf institutions and public healthcare services. It abides by both the Malaysian fatwa (Islamic rulings) on waqf and the laws of the Malaysian Government.

Practical implications

There is potential for developing the Malaysian corporate waqf-governance healthcare model which will enable the hospital to provide better quality healthcare to more patients through upgrading the quality of equipment used in hospitals and/or better facilities at equal or lower costs. Consequently, this will not only improve waqf management and distribution but also result in reduction of government expenditure.

Social implications

This research promotes the concept of a corporate waqf hospital which will provide innumerable beneficial healthcare services in terms of improved healthcare quality at affordable costs to the general public and at no cost to the poor and the underprivileged.

Originality/value

Although waqf has played an important role as a vehicle for Islamic financing in the society for centuries, a model of collaboration or partnership of waqf with public healthcare services has yet to be explored and developed. With proper corporate governance and well-managed sustainability in a corporate waqf model, this newly developed partnership between waqf institutions and public healthcare providers can be a first step in many more interesting collaborative arrangements that can be established between waqf institutions and public services in the future.

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 1
Type: Research Article
ISSN: 0128-1976

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Book part
Publication date: 19 December 2016

Norafni @ Farlina binti Rahim

Islamic finance and Halal product sectors are thriving successfully. This chapter is a general review of the perception of Asian consumers on Islamic finance and Halal sectors in…

Abstract

Purpose

Islamic finance and Halal product sectors are thriving successfully. This chapter is a general review of the perception of Asian consumers on Islamic finance and Halal sectors in the global Halal economy.

Methodology/approach

The first section will briefly describe the Halal concept in both Islamic finance and Halal industries, and the growth of both sectors in Asian countries. The second part highlights the review of Asian consumers’ perception towards Islamic finance products and Halal products.

Findings

The review found that the consumers’ perception towards the Islamic finance products and Halal products is distinctive. This is due to the diversity of Asian countries in terms of geography, religion, culture, ethnic, school of thoughts (madzahib), income per capita and government’s involvement.

Originality/value

The third part of the chapter concentrates on planning towards Halal marketing, which involves the move and future challenges in different layers of industries to gear up and strengthen the Halal economy.

Details

Advances in Islamic Finance, Marketing, and Management
Type: Book
ISBN: 978-1-78635-899-8

Keywords

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Case study
Publication date: 24 September 2018

Fawzeia Abdulla Al Marzooqi and Syed Zamberi Ahmad

Growth strategies, marketing strategy, resources-based value theory, alliance network model, logistic and supply chain.

Abstract

Subject area

Growth strategies, marketing strategy, resources-based value theory, alliance network model, logistic and supply chain.

Study level/applicability

This case can be used in undergraduate and graduate classes as well as development programmes for managers in small to medium-size enterprises. The case suits courses in business, strategy, marketing and freight forwarding.

Case overview

Union National Air, Land and Sea Shipping Co (LLC) (UNASCO) is a small to medium-sized freight forwarding company based in the United Arab Emirates (UAE). It has three offices, two in Dubai and one in Abu Dhabi. UNASCO handles commercial imports/exports from/to many destinations, including Europe, Asia, the USA, India, the Far East, Gulf Cooperation Council (GCC), the Middle East (ME) and Africa. UNASCO has been in business for more than 35 years and has run the business smoothly. Recently, the company has faced several internal and external challenges that impact business performance. These challenges are high operating expenses, stiff competition and low market demand. Due to these challenges, the sales staff is being pressured to generate more income to ensure that the company is not experiencing a loss. Now, UNASCO is uncertain how to sustain the business.

Expected learning outcomes

The learning outcomes are as follows: to learn about the freight forwarding industry, the competitive landscape and the challenges surrounding it; to enable the participant to generate a list of strengths, weaknesses, opportunities and threats (SWOT) for UNASCO and to gain skill at using SWOT analysis; to increase the participant’s ability to evaluate a situation and effectively communicate remedies about it both in writing and verbally; to enable the participant to analyse a problem using the Fishbone Diagram cause and effect tool; to enable the participant to use the Six Thinking Hats technique to make more reliable and sounder decisions; to gain skill at using Porters Five Forces tool, understand the competitiveness of UNASCO’s business environment, and identify the potential for business growth; and to gain skills at developing a marketing strategy using the 4Ps model.

Supplementary materials

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

Subject code

CSS 11: Strategy.

Details

Emerald Emerging Markets Case Studies, vol. 8 no. 3
Type: Case Study
ISSN: 2045-0621

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