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Article
Publication date: 1 April 2014

Abdul Jalil Omar and Christopher A. Heywood

This paper aims to explore how branding theory can be used to understand corporate real estate management's (CREM's) relationships with its customers. Specifically, the…

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Abstract

Purpose

This paper aims to explore how branding theory can be used to understand corporate real estate management's (CREM's) relationships with its customers. Specifically, the perspectives of CREM executives and customers are used to develop a statement of a CREM brand.

Design/methodology/approach

A multiple case study approach from four industry sections that consist of telecommunications, logistic, retail, and education from an emerging real estate market (Malaysia) and a mature real estate market (Australia). CREM executives and CREM customers from each case were interviewed to obtain information on CREM within organisations.

Findings

The findings indicate that CREM supports the business by managing organisations' strategic real estate resources as its brand. CREM executives focus more on the technicality of real estate functions, while CREM customers expect corporate real estate (CRE) to support their business functions.

Research limitations/implications

A CREM brand is important to CREM relationship building with the targeted customers. Successful brand development is able to increase CREM visibility to customers and at the same time gain appreciation of its contributions to the organisations.

Originality/value

This is the first study that investigates CREM from a branding perspective. The mechanism for communicating CREM contributions using branding helps to increase acceptance from the customers.

Details

Journal of Corporate Real Estate, vol. 16 no. 1
Type: Research Article
ISSN: 1463-001X

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Article
Publication date: 14 September 2010

Abdul Jalil Omar and Christopher Heywood

The purpose of this paper is to introduce concepts of branding applicable to the corporate real estate management (CREM) service and present early results of a study of branding…

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Abstract

Purpose

The purpose of this paper is to introduce concepts of branding applicable to the corporate real estate management (CREM) service and present early results of a study of branding concepts to address a credibility‐positioning problem in CREM.

Design/methodology/approach

The paper presents case studies of CREM in Australia and Malaysia analysed from the branding perspective.

Findings

It is found that the CREM credibility‐positioning problem inside organisations depends not only on the technical performance of CREM service, but also involves the relationship between CREM and its customers.

Research limitations/implications

These are the early results of a study limited to a few case studies selected from four industry sectors in two different countries. Further findings might explain cross‐cultural perceptions for CREM's credibility‐positioning in emerging and mature real estate markets.

Practical implications

The research clearly identified the application of branding elements in CREM's relationship with customers. The findings of this paper are useful to CREM executives in increasing their credibility in their organisations.

Originality/value

The paper introduces branding theory as being useful and important in CREM practice.

Details

Journal of Corporate Real Estate, vol. 12 no. 3
Type: Research Article
ISSN: 1463-001X

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Article
Publication date: 3 August 2012

Mariam Jamilah Abdul Jalil and Zuriah Abdul Rahman

The purpose of this paper is to determine whether the amount of profits gained from musharakah mutanaqisah model using coupon rate of 4.5 per cent, price at par and tenure of five…

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Abstract

Purpose

The purpose of this paper is to determine whether the amount of profits gained from musharakah mutanaqisah model using coupon rate of 4.5 per cent, price at par and tenure of five years was greater than using ijarah principle where the price is at a discount. Also to compute and compare the profits obtained from sukuk investment in ijarah and musharakah mutanaqisah for 3.5 per cent coupon rate and price at par for a sukuk with tenure of 12.5, 15, 17.5 and 19 years.

Design/methodology/approach

In total, two models were used to calculate profit. These models are based on ijarah and musharakah mutanaqisah principles. Formulas are derived from ijarah and musharakah and mutanaqisah principles used in sukuk.

Findings

Sukuk investment using ijarah principle is found to be a better investment alternative than musharakah mutanaqisah principle, regardless of the number of years of the sukuk, as long as it is a long‐term tenure. However, for short‐term tenure, the latter is preferred based on the amount of profits generated.

Research limitations/implications

The formulas and results shown in this research are just one of the mathematical approaches that can be used for decision making in sukuk investment. There are other approaches which may deemed to be more effective in decision making. This research was applied only to ijarah and musharakah mutanaqisah types of investment.

Practical implications

The results in the research will assist in making a quick decision on what type of sukuk investment for the investors and issuers and which will be suitable given the amount of financial resources and duration of the investment period.

Originality/value

Many researchers have attempted to study the implications of using mathematical formulas to guide decision making on the choice of sukuk investment and this research has, to a certain extent, concurred with and complemented the works of past researchers. Additionally it will create awareness and provide more information to potential investors on better sukuk investment alternative principles from a mathematical point of view.

Details

Qualitative Research in Financial Markets, vol. 4 no. 2/3
Type: Research Article
ISSN: 1755-4179

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Available. Open Access. Open Access
Article
Publication date: 16 October 2018

Mohd Zaidi Md Zabri and Mustafa Omar Mohammed

This study aims to validate a potential synergistic venture between cash waqf (Islamic endowment) institutions (CWIs) and financial cooperatives (FCs) in the provision of…

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Abstract

Purpose

This study aims to validate a potential synergistic venture between cash waqf (Islamic endowment) institutions (CWIs) and financial cooperatives (FCs) in the provision of affordable Islamic home financing (IHF) in Malaysia.

Design/methodology/approach

The study adopted semi-structured interviews with ten experts to validate the cash waqf-financial-cooperative-mushārakah mutanāqiṣah (CWFCMM) model. Thematic analysis technique was used to analyse the verbatim texts.

Findings

The findings show that the majority of the informants have positive perceptions of the potential of the CWFCMM model to provide financially affordable IHF products in Malaysia. Nevertheless, this study sheds light on the varying degrees of latent issues and challenges that might arise in the implementation of this model. For example, FCs need to practice the correct business model, implement good governance structures and employ the right people. Meanwhile, CWIs need to work on their accountability issues by publishing their audited accounts in mainstream newspapers, much like what is being done by non-governmental organisations such as the widely recognised Malaysian Medical Relief Society (MERCY Malaysia).

Research limitations/implications

This study interviewed a small, industry-specific number of informants in generating its findings. Time and budget constraints are some of the limiting factors in carrying out the study. Because of these factors, the generalisation of the study’s findings will be limited.

Practical implications

First, the CWFCMM model offers an alternative, financially affordable IHF instrument to low- and middle-income households in Malaysia. Second, the involvement of third-sector institutions such as FCs and CWIs in the provision of IHF will reduce the burden of the government in its spending on home financing solutions for civil servants. Third, this model will harness the potential of waqf-based financing beyond the contemporary limited applications to mosques, graveyards and taḥfīẓ (Qurʾan memorization) schools.

Originality/value

This study presents an alternative IHF model that transcends the current institutional framework that is heavily dominated by Islamic commercial banks and government-owned home financing institutions. The study does not focus on a single third-sector institution but on an integration of at least two of them, CWIs and FCs, in implementing the IHF model.

Details

ISRA International Journal of Islamic Finance, vol. 10 no. 2
Type: Research Article
ISSN: 0128-1976

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Book part
Publication date: 7 November 2024

Ziyaad Mahomed and Irum Saba

Increasing humanitarian disasters and the need for financial support – specifically within the Organization of Islamic Cooperation (OIC) countries – has forced global humanitarian…

Abstract

Increasing humanitarian disasters and the need for financial support – specifically within the Organization of Islamic Cooperation (OIC) countries – has forced global humanitarian agencies to consider alternative funding sources. The victims of disaster and those disadvantaged that remain below the poverty line in much of the OIC countries remain concerned about the source of the funding they receive, based on their beliefs. Furthermore, institutions responsible for managing the funding for Sustainable Development Goals (SDGs) targets in their respective countries have also been considering alternative funding. The World Bank and the Islamic Development Bank (IsDB) suggest that the Islamic social finance is largely untapped, with significant potentials for more effective collection and distribution of compulsory alms called zakah and endowments known as waqf within the OIC countries. This chapter assesses the current challenges and opportunities for the Islamic social finance and covers some of the successful cases of the Islamic social finance deployment. The authors review approaches where world-renowned institutions have applied interest-free loans for poverty reduction, banking products for agricultural social financing, the utilization of cross-border social funding for socio-economic development and property management using social finance principles. The authors also assess capital market instruments integrated with the Islamic social finance for managing SDG funding gaps.

Details

The Future of Islamic Finance
Type: Book
ISBN: 978-1-83549-907-8

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Article
Publication date: 18 November 2021

Mohd Anuar Ramli, Muhamad Afiq Abd Razak and Mohamad Hasif Jaafar

To tap into the global market, it is important to evaluate and predict the trends of the acceptance of non-Muslims towards halal food products. This review paper aimed to evaluate…

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Abstract

Purpose

To tap into the global market, it is important to evaluate and predict the trends of the acceptance of non-Muslims towards halal food products. This review paper aimed to evaluate the evidence relating to the potential barriers to the acceptance of halal food among non-Muslim consumers.

Design/methodology/approach

The authors searched ScienceDirect, Scopus, Emerald and JSTOR databases. The search for the studies was performed without restrictions by using the terms “Non-Muslim” OR “Jews” OR “Christian” OR “Hindu” OR “Buddha” AND “halal” OR “halalan toyyiban” OR “sharia compliance” AND “food” OR “dietary” AND “perception” OR “opinion” OR “attitude” OR “barrier”. Quantitative studies were included, and the quality of the studies was assessed with the Crowe Critical Appraisal Tool.

Findings

Two themes were identified to be the potential barriers in the acceptance of halal food among non-Muslim consumers. There were two major factors: weak intention (negative attitude, perceived low behavioural control and perceived low subjective norms) and lack of food safety awareness, whereas the minor factors were as follows: perceived low food quality, halal logo/brand, lack of halal awareness, religious belief, animal welfare, consumer motive, low confidence level, lack of proper marketing/promotion, bad cognitive dissonance, bad food assurance and poor product judgement.

Practical implications

By realising these potential barriers, it will benefit many parties including stakeholders and the food industry to improve their strategy to expand the halal market, especially for non-Muslims.

Originality/value

Based on the findings, the authors believe that while research towards halal needs to continue and improve its basis in theory and design, researchers and food marketers can be confident that intention of purchasing halal food products can be increased by securing the aspect of attitude, subjective norms, perceived behavioural control as well as food safety awareness. Based on the identification of these potential barriers, this review hopes to further explain effective methods of communication for conveying halal concept in different parts of the countries.

Details

Journal of Islamic Marketing, vol. 14 no. 2
Type: Research Article
ISSN: 1759-0833

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Article
Publication date: 26 August 2022

Norhazlina Ibrahim and Safeza Mohd Sapian

The purpose of this study is to investigate whether Tawarruq Islamic home financing (IHF) products remain untouched and maintain their position as the top IHF product in Malaysia.

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Abstract

Purpose

The purpose of this study is to investigate whether Tawarruq Islamic home financing (IHF) products remain untouched and maintain their position as the top IHF product in Malaysia.

Design/methodology/approach

The study adopted a qualitative research methodology that included both literature review and content analysis. Firstly, the existing studies and literature were reviewed to compare different types of IHF. The composition of IHF products offered by these Islamic banks was then investigated further to analyse each bank’s progress in IHF from 2015 to 2019. The data were gathered from bank websites, brochures, product disclosure sheets and annual reports.

Findings

The findings reveal that around 62.5% of Islamic banks offered Tawarruq for IHF in the year 2020. For the banks that offered Tawarruq, the amount of the financing continued to grow each year. The plausible reason for the preference for Tawarruq was its less risky nature, despite facing numerous operating, legal and Shariah issues.

Research limitations/implications

This study has several limitations, including the fact that it was limited to home financing products only, the methodology used and the research period.

Practical implications

This study aimed to provide beneficial insights into the use of Tawarruq, which has been a source of concern for regulators as well as steps made to reduce its usage in the industry. Islamic banks should be more proactive in developing non-Tawarruq products to enhance product innovation in the market and minimise the heavy reliance on debt-based products.

Originality/value

This study provides useful insights by analysing IHF in depth for each Islamic bank and making recommendations for future research. Specifically, the method facilitated critical discussions and comparisons to previous research findings as to why Tawarruq has remained popular.

Details

Qualitative Research in Financial Markets, vol. 15 no. 1
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 2 November 2020

Dg Ku Zunaidah Ag Majid, Suhaila Abdul Hanan and Hazlinda Hassan

The halal industry has been growing in recent years, seeing an increasing demand for halal products from both Muslim and non-Muslim consumers and acknowledging that halal is a…

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Abstract

Purpose

The halal industry has been growing in recent years, seeing an increasing demand for halal products from both Muslim and non-Muslim consumers and acknowledging that halal is a universal concept accepted by both Muslim and non-Muslim societies. Service-related providers, such as logistics, could influence the demand for halal products by consumers. This paper aims to investigate the factors that influence consumers' willingness to pay (WTP) for halal logistics among young non-Muslim adults.

Design/methodology/approach

A set of survey questions were distributed to young non-Muslim adults and 280 questionnaires were analysed.

Findings

The results indicate that three independent variables had a direct relationship and significant influence on the WTP for halal logistics among non-Muslim consumers. These variables are concern on halal, knowledge about halal and perception of halal logistics. Meanwhile, the awareness of halal logistics significantly influenced the consumers' WTP for halal logistics, provided that it was mediated by the perception of halal logistics.

Originality/value

Given the gap in research on halal logistics and WTP, this paper presents a consolidated examination of this subject, particularly the WTP of young non-Muslim adults. Furthermore, by including the perception of halal logistics as a mediator, this study leverages the halal logistics knowledge to a new level, thus deepening the understanding of this topic and contributing additional knowledge. This study also presents some opportunities for future empirical research.

Details

British Food Journal, vol. 123 no. 3
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 6 July 2023

Hawwa Abdul Mokti, Nor Azzah Kamri and Mohd Abd Wahab Fatoni Mohd Balwi

The purpose of this study is to examine and review tayyiban indicators in the context of halal food production. In Islam, food produced or manufactured must be halal and tayyiban

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Abstract

Purpose

The purpose of this study is to examine and review tayyiban indicators in the context of halal food production. In Islam, food produced or manufactured must be halal and tayyiban. Even though both halal and tayyiban are always mentioned together in the Quran, the halal aspect is highlighted more than tayyiban. The discussion of tayyiban’s indicators is still vague.

Design/methodology/approach

The study was adopted based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses for the review of the current research which used two main journal databases, namely, Web of Science and Scopus. Accordingly, the search resulted in a total of 40 articles that can be systematically examined.

Findings

The results of review of these articles formulated five main themes: safety, nutrition, cleanliness, quality and authenticity. These five indicators are considered relevant enough in the context of halal food production to build a comprehensive tayyiban concept.

Originality/value

This study enriches the field of halal food research. The concept of tayyiban as a whole has been given limited attention in academic literature. At the end of this study, a number of recommendations are suggested for the reference of future scholars.

Details

Journal of Islamic Marketing, vol. 15 no. 2
Type: Research Article
ISSN: 1759-0833

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Article
Publication date: 11 June 2024

Rindawati Maulina, Wawan Dhewanto and Taufik Faturohman

Exploring the current phenomenon of the cash waqf-linked sukuk (CWLS) program issuance that involves Islamic banks in Indonesia, this paper aims to investigate the key barriers…

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Abstract

Purpose

Exploring the current phenomenon of the cash waqf-linked sukuk (CWLS) program issuance that involves Islamic banks in Indonesia, this paper aims to investigate the key barriers and intentional behaviors in realizing wealthy Muslims’ contribution to the program using the intermediary function of Islamic banks. Moreover, this study provides a conceptual framework to set effective marketing strategies to encourage wealthy Muslims to become cash waqf founders and sustain their contribution.

Design/methodology/approach

This qualitative study used a literature review and in-depth interviews to generate insights for developing a model of wealthy Muslims’ behavior toward cash waqf programs held by Islamic banks.

Findings

The study identified low trust, literacy and transparency as the biggest barriers to cash waqf contributions, but suggests that a greater role for Islamic banks, personal engagement and innovative product offerings can help to overcome these barriers. The study also identified three new behavioral dimensions that are important for understanding wealthy Muslims’ contributions to cash waqf: personal financial planning, accountability and political issues. Based on these findings, the study proposes 10 strategies for all stakeholders to pursue in the short and medium term to promote cash waqf contributions from wealthy Muslims.

Research limitations/implications

This study only involved respondents from three major cities in Indonesia: Jakarta, Bandung and Surabaya because these cities have a large number of wealthy Muslims. Future research can collect more samples from all major cities in Indonesia or other Muslim majority countries, and use other qualitative methodology such as phenomenological, ethnographic, grounded theory, case study or action research. The findings of this study can be the starting point for further research and the proposed conceptual framework requires empirical testing in the future.

Practical implications

The findings of this study can be a basis for policymakers and the Islamic financial industry in formulating marketing, education and socialization strategies for innovative cash waqf programs.

Social implications

The findings of this study will support the acceleration of cash waqf collection for cash waqf initiatives through Islamic banks. Moreover, with a better understanding of the factors impeding and motivating the most potential Muslim groups to contribute to the innovative cash waqf program, the ultimate goal of higher national socio-economic development becomes more attainable.

Originality/value

To the best of the authors’ knowledge, this study is the first to investigate wealthy Muslims’ behavioral factors for contributing to innovative cash waqf held by Islamic banks, from various stakeholder perspectives. It fills a research gap in the literature on innovative cash waqf and behavior.

Details

Journal of Islamic Marketing, vol. 15 no. 12
Type: Research Article
ISSN: 1759-0833

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