Essia Ries Ahmed, Sofri Bin Yahya, Harashid Haron and Djafar Henni Mohamed
The purpose of this paper is to give another perspective on the definition of doubtful activities (Shubuhat) in the context of Islamic finance activities.
Abstract
Purpose
The purpose of this paper is to give another perspective on the definition of doubtful activities (Shubuhat) in the context of Islamic finance activities.
Design/methodology/approach
This study used qualitative approach from interviews with experts in Islamic finance and religious scholars.
Findings
This study highlights the synthesized Shubuhat definition from the previous studies and the contemporary religious experts. Therefore, the definition of Shubuhat has been conceptualized to Islamic finance in this study. This proposes a novel operational definition of Shubuhat from the Islamic finance perspective.
Originality/value
This study would enlighten the Ummah and contribute to knowledge to provide clarification on the Shubuhat fundamentals for further investigations and with more detailed description of the Shubuhat. Also, this study introduces a value chain of Sharīʿah-compliance by adding the elements of Shubuhat to the general understanding of Sharīʿah-compliance which has been generally understood as having the elements of halal and haram.
Details
Keywords
Umar Habibu Umar, Mustapha AbuBakar, Abubakar Jamilu Baita, Tasiu Tijjani Kademi and Md Harashid Haron
The purpose of this study is to examine the contribution of academic and professional institutions in promoting the awareness and knowledge of Islamic banking and finance in…
Abstract
Purpose
The purpose of this study is to examine the contribution of academic and professional institutions in promoting the awareness and knowledge of Islamic banking and finance in Nigeria.
Design/methodology/approach
The data were generated through a documentary research method by examining the Benchmark Minimum Academic Standards (BMAS) for Nigerian universities and Nigerian university curricula for the relevant undergraduate programs, as well as examination syllabi and training brochures for the relevant professional associations.
Findings
The study found that universities do not promote significantly the awareness and knowledge of Islamic banking and finance. Similarly, the relevant professional associations through their examinations and training programs contribute little or nothing to the promotion of awareness and knowledge.
Research limitations/implications
This study solely relied upon documentary evidence upon which the findings were based. In addition, for academic institutions, only undergraduate BMAS and curricula were examined.
Practical implications
There should be collaborations between the National University Commission of Nigeria, relevant Islamic and non-Islamic professional bodies and Nigerian Universities to ensure that courses (subjects) that could promote the awareness and knowledge of Islamic banking and finance are fully integrated into academic and professional curricula and training programs.
Social implications
The integration of an adequate number of relevant courses/topics into academic curricula and professional institution examination syllabi and their Mandatory Continuing Professional Development programs would greatly contribute to the production of competent and skillful employees to work for the growth and development of the Islamic banking and finance industry.
Originality/value
This study provides better ways of ensuring that knowledgeable and qualified employees are produced to work for the sustainability of the global Islamic banking and finance industry.
Details
Keywords
Umar Habibu Umar, Abubakar Jamilu Baita, Md Harashid Bin Haron and Sadanu Hamza Kabiru
This paper aims to explore the potential of the awareness and knowledge of Islamic social finance (zakat, waqf and Islamic microfinance) to alleviate poverty during the COVID-19…
Abstract
Purpose
This paper aims to explore the potential of the awareness and knowledge of Islamic social finance (zakat, waqf and Islamic microfinance) to alleviate poverty during the COVID-19 pandemic with the moderating effect of ethical orientation.
Design/methodology/approach
The data were collected through the administration of paper-based and electronic questionnaires to 400 respondents out of which only 277 were found valid for analysis.
Findings
The study showed that by direct relationship, the awareness and knowledge of Islamic social finance instruments have a potentially significant positive contribution to poverty alleviation during the COVID-19 pandemic except for zakat that has an insignificant positive contribution. Ethical oriental has also a significant positive contribution. Contrary to expectation, the moderating effect of ethical orientation has changed zakat and waqf to have significant negative and insignificant positive contributions, respectively. Only Islamic microfinance has endured the moderating effect to continue contributing significantly and positively to the reduction of poverty.
Research limitations/implications
The study explored only the potential impact of the awareness and knowledge of Islamic social finance to mitigate the extreme poverty caused by the COVID-19 pandemic in Nigeria.
Practical implications
This study clearly showed the need to create enabling laws and policies to support the operations of zakat and waqf institutions to achieve their objectives effectively and efficiently. These two institutions should be integrated with Islamic microfinance for the possibility of getting better outcomes.
Social implications
There should be massive campaigns to restore religious, social and political ethics to enhance the socio-economic development of Nigerians based on the principles of brotherhood.
Originality/value
This study provides unexpected and unusual results showing the inability of zakat and waqf institutions to alleviate poverty due to poor ethical orientation.
Details
Keywords
Norhazlina Ibrahim and Safeza Mohd Sapian
This study, using systematic literature review (SLR) aims to highlight and summarise current studies on the factors influencing customers’ Islamic home financing (IHF) selection…
Abstract
Purpose
This study, using systematic literature review (SLR) aims to highlight and summarise current studies on the factors influencing customers’ Islamic home financing (IHF) selection and Islamic banking product preference, which has gained popularity within the banking sector over the past three decades. The SLR could map evolution and research fields, recommend a particular categorisation and determine primary issues to demonstrate current trends, future research directions and theoretical development.
Design/methodology/approach
The SLR was performed with a four-step reporting standard for the systematic evidence syntheses review method (research question formulation, systematic searching, quality assessment and data extraction) using 33 screened articles between 2008 and 2020 from two primary databases (Scopus and Web of Science) and one supporting database (Google Scholar).
Findings
The resulting factors could be categorised into four primary themes: consumer behaviour, consumer attributes, bank attributes and bank attributes (Islamic). The themes were subsequently divided into 16 sub-themes. Notably, all the factors proved essential for consumers’ evolving preferences and product competitiveness in the market.
Research limitations/implications
This study encountered two limitations based on database selection and research period.
Practical implications
This SLR aimed to offer useful insights into the factors that should be prioritised by financial institutions for marketing approaches by investigating consumer behaviours.
Originality/value
This study pioneered an SLR on the study area for useful insights into the current research limitations and recommendations on future study directions. Specifically, the study method facilitated critical discussions and comparisons to past research outcomes and objectivity with triangulation from distinct perspectives.