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This paper aims to accentuate the behavior of second-grade hybrid Al₂O₃–Cu nanofluid flow and its thermal characteristics driven by a stretching/shrinking Riga plate.

The second-grade fluid is considered with the combination of Cu and Al₂O₃ nanoparticles. Three base fluids namely water, ethylene glycol (EG) and methanol with different Prandtl number are also examined. The formulation of the mathematical model of second-grade hybrid nanofluid complies with the boundary layer approximations. The complexity of the governing model is reduced into a simpler differential equations using the similarity transformation. The bvp4c solver is fully used to solve the reduced equations. The observation of multiple solutions is conducted for the assisting (stretching) and opposing (shrinking) cases.

The impact of suction parameter, second-grade parameter, electromagnetohydrodynamics (EMHD) parameter, velocity ratio parameter and the volumetric concentration of the alumina and copper nanoparticles are numerically analyzed on the velocity and temperature profiles, skin friction coefficient and local Nusselt number (thermal rate) of the second-grade Al₂O₃–Cu/water. The solution is unique when (static and stretching cases) while dual for a specific range of negative in the presence of suction effect. Based on the appearance of the first solution in all cases of, it is physically showed that the first solution is stable. Further examination reveals that the EMHD and suction parameters are the contributing factors for the thermal enhancement of this non-Newtonian working fluid. Meanwhile, the viscosity of the non-Newtonian fluid also plays a significant role in the fluid motion and heat transfer rate based on the finding that the EG base fluid produces the maximum heat transfer rate but the lowest critical value and skin friction coefficient.

The results are novel and contribute to the discovery of the hybrid nanoparticles’ performance in the non-Newtonian second-grade fluid. Besides, this study is beneficial to the researchers in this field and general audience from industries regarding the factors, which contributing to the thermal enhancement of the working fluid.

The evaluation of high thermal efficiency has actively highlighted the unique behaviour of hybrid nanofluid. Thus, the purpose of this paper is to emphasize the hybrid nanofluid’s stagnation point in three-dimensional flow with magnetic field.

The defined ordinary differential equations systems are addressed using the bvp4c solver.

The results indicate that using dual solutions is possible as long as the physical parameters remain within their specified ranges. Hybrid nanofluid flow has been recognised for its superior heat transfer capabilities in comparison to both viscous flow and nanofluid flow. Furthermore, it has been demonstrated in the current study that augmenting the volume concentration of nanoparticles leads to a corresponding enhancement in the rate of heat transfer. When the velocity gradients ratio is augmented, there is a corresponding reduction in the thermal performance. The separation value grows as the magnetic parameter rises, which signifies the expansion of the boundary layer.

The originality of the paper highlights the general mathematical hybrid model of the three-dimensional problem with the magnetohydrodynamics (MHD) effect in the stagnation point flow. The comprehensive examination of the suggested model has not yet been thoroughly addressed in prior research.

The purpose of this paper is to study the Blasius flat plate with viscous dissipation in the presence of suction or injection effects in the boundary layer of a viscoelastic fluid.

The governing partial differential equations are derived as a first order ordinary differential equation using similarity (Blasius) variables. Velocity profiles, temperature profiles, skin friction parameters, and heat transfer parameters are computed numerically for various values of the viscoelastic parameter K, the suction or injection parameter f _w , the Prandtl number Pr, the Eckert number Ec, and the moving parameter λ.

The effects of the viscoelastic, moving, and suction/injection parameters on the skin friction and heat transfer of the flat plate are studied. The effects of these parameters on the velocity and temperature profiles are also presented for 0≤Pr≤3.

To the best of the authors' knowledge, this important classical problem has not been studied before for the case of a viscoelastic fluid. Thus, the results are original and new for this type of fluid.

This study aims to find out the problems of family Takaful (Islamic Life Insurance) operations in Bangladesh and proposes strategies to overcome the problems.

Qualitative data were collected through interviews with 32 respondents from two family Takaful operators in Dhaka, Bangladesh.

The study finds a number of problems of family Takaful which relate to the government, Takaful company and the Shariah board. Lack of governing guidelines for Takaful companies in Bangladesh is causing numerous operational problems of family Takaful. To overcome these obstacles, the government should propose separate Act for Takaful. This requires support from the stakeholders along with Islamic scholars in the country.

It is anticipated that the findings and suggestions of the study will assist the policymakers in improving the situation of family Takaful companies particularly in Bangladesh.

If the proposed suggestions are implemented in Takaful companies, the problems facing Takaful will likely be solved and more people will take part in Takaful. This would contribute to developing the country economically, raise Islamic values and foster peace and harmony in the society.

Mainly, this study is based on the primary research that has been conducted in family Takaful companies in Bangladesh.

The purpose of this paper is to investigate the empirical linkage between the composition of Shariah Committee and the extent of Shariah governance disclosure in 16 licensed Islamic banks in Malaysia.

This paper adopted a multiple regression analysis to test the association between the composition of Shariah Committee and the extent of Shariah governance disclosure. A disclosure index was developed to measure the extent of Shariah governance disclosure made by the Islamic banks. Whereas to measure the extent of Shariah governance disclosure, this study used content analysis as a method of coding qualitative information in the annual reports.

Using 2009 data, the study found a significant association between different compositions of the Shariah Committee in the Malaysian Islamic banks and their Shariah governance disclosure level before the introduction of the Shariah Governance Framework (SGF). However, because of less variation in the composition of Shariah Committee after the introduction of SGF 2010, a weak linkage was found between the composition of Shariah Committee and the extent of Shariah disclosure of Malaysian Islamic banks in 2013.

Findings of this study offer several implications for further improvements of the Malaysian Islamic banking sector in particular, and other Islamic banks globally. As better composition of Shariah Committee in terms of its size, academic background and other relevant expertise would result in effective monitoring system leading to better practices of Shariah disclosure, this finding highlights the relevance and important role of the Shariah Committee in improving voluntary Shariah disclosure level of the Islamic banks. This finding suggests that ample focus has to be channelled in strengthening the composition of Shariah Committee in crafting future development of SGF in Malaysia. It is also suggested that Islamic banks need to give priority in providing more education and training in various areas of expertise to their Shariah Committee members that would result in greater confidence of investors, stakeholders and the society on the information disclosed by the banks.

The novelty of this paper lies in highlighting the importance of different composition of Shariah Committee in determining the extent of voluntary disclosure made on Shariah matters by the Islamic banks.

Without prejudice to the efficacy of other poverty alleviation mechanisms, micro-financing arguably enjoys relative prominence. However, notwithstanding the remarkable loan repayment rate that the microfinance firms report, they still face the challenge of sustainability. The paper aims to provide insights into how three dimensions of market orientation, namely, customer orientation, competitor orientation and inter-function coordination, affect the two aspects of the sustainability of microfinance institutions (MFIs; management and financial).

To achieve this goal, this study focuses on Amanah Ikhtiar Malaysia (AIM), a leading microfinance provider which is also the largest MFI in South East Asia. Data elicited via a survey questionnaire administered on 190 management staff of AIM across Malaysia are subjected to statistical analysis via the partial least square-structural equation modeling using SmartPLS 2.0.

The results provide empirical evidences that indicate that management sustainability is significantly influenced by customer orientation and inter-function coordination. However, only customer orientation affects the financial sustainability of AIM. Nevertheless, competitor orientation has non-significant effects on both aspects of sustainability of AIM.

The result of the paper contributes to the literature in understanding the long-term sustainable financial and social performance-based market orientation.

Findings are useful for policy makers, management of MFIs, practitioners and academics to enhance microfinance system. Managerial implications, limitation of the study and suggestions for future research are also included.

This study aims to present a detailed investigation of Shariah audit research based on a systematic literature review.

A total of 53 studies were collected from the Scopus and Web of Science databases following a systematic methodology. These studies were analyzed and evaluated based on the theoretical perspective, geographical distribution, research settings and themes background.

The findings indicate an increase in the literature on Shariah auditing over time, especially in the Malaysian context, with a dearth of research in other contexts and institutions (Takaful). It has been also revealed that the existing literature is still unclear about the effectiveness and consequences of effective Shariah auditing, pointing the need for more work on these areas. The authors outline opportunities for future Shariah auditing research.

The synthesized findings are helpful for policymakers and managers to understand better how research in Shariah auditing is developing and how to translate research findings into practice. To the best of the authors’ knowledge, this is the first research to comprehensively synthesize the literature on this topic and identify the potential opportunities for future research directions.

Islamic Accounting, Auditing, Strategic Management and Accounting Theory.

The case is suitable for graduate and postgraduate business students, particularly those on courses such as Islamic Accounting, Auditing, Strategic Management and Accounting Theory. The case is based on secondary data collection and all the facts are real.

In the early 2000s, the Tabung Haji (TH) faced financial difficulty, particularly regarding its returns from investments and, with the intention of helping to improve this situation, the General Manager (GM) of Finance and the GM of Investment decided to accept an investment proposal presented by an investment company. The proposal involved initial and subsequent investment portfolios of RM50 million and RM150 million, respectively. The proposal was presented in a board meeting and was approved by the board. Indeed, the two GMs were delighted to receive a return of RM12.5 million from their RM50 million initial investment – i.e. 25 per cent return. In the process of approving the subsequent investment of RM150 million, the two GMs were informed that their investments were partly for the FOREX market (Foreign Exchange Market/Currency Market). At that time, there was no conclusive decision on the status of investment in the FOREX market regarding whether it complied with Sharia principles. The two GMs contemplated whether they should accept this second investment proposal. The issue was whether they should reveal in the board meeting that this investment was partly in FOREX. What if the board failed to accept the idea of investing in FOREX and rejected the proposal? Indeed, they were dropping an opportunity for lucrative returns. Should the GMs seek technical advice on the status of FOREX investment in Islam and present it to the board?

The case should help students to: understand the concept of Sharia and Sharia financial principles; understand the process involved in TH investment decisions; analyze the issues involved in decision-making and apply the relevant theories to describe the actions; and recommend various alternative course of actions in a given situation.

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

This research aims to present the characteristics of dimple structure which was fabricated using a turning machine, where the characteristics include sizes, shapes, area ratio and aspect ratio. This research aims at filling the gap in the machining parameters of previous research in producing dimple by using turning process with the aid of dynamic assisted tooling for turning (DATT). In producing dimple, a carbide insert grade H1 was used on a hypereutectic aluminium silicon alloy (A390) material. Dimple has many advantages such as for reducing friction coefficient, load-carrying capacity and trap wear debris for sliding mechanical components.

There are seven machining parameters (cutting speed, feed rate, depth of cut, frequency, amplitude, rake angle, relief angle and nose radius) which have an influence on dimple produced. Taguchi method (orthogonal arrays L8) was used to conduct the experiment systematically and efficiently for these seven parameters. A carbide insert grade H1 was used as a cutting tool on a turning machine with the aid of DATT. The dimple structure was fabricated on a cylindrical rod hypereutectic aluminium silicon alloy (A390). A profilometer 3D Alicona infinite focus and an optical microscope equipped with Vis software were used to analyse the fabricated dimple structure.

Various shapes and sizes of ellipse dimples were produced in this research, including short and long drops with lengths in the range of 517.03–3,927.61 µm, widths of 565.15–1,039.19 µm, depths of 14.46–124.87 µm, area ratios of 5.05–25.65% and aspect ratios of 0.007%–0.111%. There were four experiments within the optimal area ratio range of 10%–20%, i.e. the second, third, seventh and eighth experiments. The width of these dimples was 895.95, 961.39, 787.27 and 829.22 µm, length was 826.26, 3163.13, 885.98 and 1026.65 µm, depth was 83.67, 84.19, 87.05 and 110.70 µm and area ratio was 15.12%, 13.14%, 14.79% and 12.70%. The surface roughness of textured surface was below 1 µm. In this research, the results obtained were similar with that of previous researchers on dimple structure related to tribology performance.

There exists machining parameters, namely, cutting speed and frequency, that were not used by previous research in producing dimple. These machining parameters (cutting speed and frequency) were used in this research to produce dimple via turning process with the aid of DATT using carbide insert grade H1. The turning process is an environmentally friendly process which is suitable for mass production for fabricating dimple structure as compared to most of the current methods which are widely used in fabricating dimple structure.

This paper aims to determine the role governance plays in the voluntary adoption of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Disclosure Standards by Islamic insurance (takaful) operators in the Southeast Asia (SEA) and the Gulf Cooperation Council (GCC) regions.

This study uses a sample of 44 takaful operators in the SEA and the GCC regions. While corporate governance (CG) strength is measured by the use of the frequently examined variables of the board of directors and audit committee, Shari’ah governance strength is measured by the characteristics of the Shari’ah Supervisory Board (SSB). Content analysis is used to extract disclosure items from the 2014 annual reports. Agency theory, stakeholder theory and political economy theory are argued to support the hypotheses.

The results show that CG strength has a positive and significant effect on the voluntary adoption of AAOIFI Disclosure Standards by takaful operators, indicating that CG plays an important role in the disclosure of information in the annual reports of takaful operators. However, the results show a lack of association between SSB strength and voluntary adoption of AAOIFI Disclosure Standards. Our results suggest that the SSBs may not be as involved as the other CG mechanisms (such as a board of directors and audit committees) in reviewing financial reports. On another note, the level of the political right and civil liberties has a negative and significant effect on the voluntary adoption of AAOIFI Disclosure Standards, providing an indication that stakeholders in a community with greater freedom tend to be more active in pressuring takaful operators to provide more information to justify their existence in the community. Similar to SSB strength, the legal system is also found to have no significant association with the voluntary adoption of the AAOIFI disclosure standards.

This study provides stakeholders with a tool to evaluate the effectiveness of the governance role in increasing the transparency of takaful operators by examining the governance factors using a self-constructed disclosure index.

Our study is among the first to provide an in-depth analysis of voluntary adoption of AAOIFI Disclosure Standards for takaful operators in these two regions; therefore, this study has implications for regulators and standard setters. The findings of this study are expected to provide information to regulators and standard setters on the role of governance in improving the transparency of takaful operators.