Ihsan Effendi, Miftahuddin Murad, Ahmad Rafiki and Mitra Musika Lubis
The Islamic rural banks have the potential to grow in Indonesia. It is important to learn and study the consumer behaviors toward the Islamic rural banks’ services to plan for…
Abstract
Purpose
The Islamic rural banks have the potential to grow in Indonesia. It is important to learn and study the consumer behaviors toward the Islamic rural banks’ services to plan for future strategies. The purpose of this paper is to test the applicability of the theory of reasoned action in predicting the customers’ decision to use the Islamic rural banks’ services.
Design/methodology/approach
The descriptive and structural equation model analyses were used to analyze the data. A random sampling technique is adopted with a sample size of 180 consumers of the Islamic rural banks. There are variables to be tested such as Sharia system compliance, product knowledge on Sharia, promotion, services, attitude, subjective norms, intention and customer decisions to use the Islamic rural banks’ services.
Findings
The results found that the Sharia system compliance, promotion, services, attitude, subjective norms and intention variables have a significant effect on the use of services at Islamic rural banks. Only product knowledge on Sharia variable has been found to be insignificant.
Originality/value
The model can be used to prepare better strategies to attract more customers as well as increase public awareness toward Islamic rural banks’ products and services. The results are useful as a benchmark for policymakers to improve the establishment of Islamic rural banks particularly in Indonesia.
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Nazrul Hazizi Noordin, Siti Nurah Haron, Aznan Hasan and Rusni Hassan
The purpose of this study is to provide a critical review on how the Khazanah’s Sukuk Ihsan was structured in compliance with the requirements for issuance of Sustainable and…
Abstract
Purpose
The purpose of this study is to provide a critical review on how the Khazanah’s Sukuk Ihsan was structured in compliance with the requirements for issuance of Sustainable and Responsible Investment (SRI) sukuk set by the Securities Commission (SC) Malaysia.
Design/methodology/approach
To explain the structures and features of the Sukuk Ihsan, this study extracted important information from the sukuk’s Principle Terms and Conditions and Information Memorandum and presented them in a simple and easy-to-understand way. Next, this study refers to Part D: Requirement for Issuance, Offering or Invitation to Subscribe or Purchase Sustainable and Responsible Investment Sukuk of the SC’s Guidelines on Sukuk (revised edition: 28 August 2014) to assess the compliance of the sukuk in terms of eligibility of SRI sukuk issuer and SRI projects, use of proceeds, reporting and disclosure and independent assessment on SRI programmes. In addition, this study then compares the requirements stated in the SC’s SRI Sukuk Framework with the International Capital Market Association’s Green Bond Principles (GBP) and the USA’s Social Impact Bond (SIB) Act 2014.
Findings
The present study finds that the definition of eligible SRI sukuk issuer in the Guidelines on Sukuk seems to be more stringent compared to the one provided in the GBP and the US’ SIB Act. Nevertheless, the SRI Sukuk Framework provides a more comprehensive yet precise list of eligible SRI projects, covering both environmental and social aspects, compared to the GBP (which only focuses on broad categories of environmental projects) and also the USA’s SIB Act (explicitly outlines 13 social projects which are aligned with the US Federal Government’s agenda in tackling social illnesses). Indeed, the main difference between the eligible SRI sukuk projects and its conventional counterparts lies in its compliance to Shariah principles. It is also observed that a significant emphasis has been given on SRI legislations in ensuring proper reporting and disclosure provided to the SRI sukuk stakeholders together with critical evaluation on the impacts of SRI programmes provided by an independent assessor.
Practical implications
This paper contributes towards enriching the literature on the Islamic capital market, particularly on the integration between sukuk and social impacts investing. This paper was intended to highlight the important requirements in issuing SRI sukuk to various stakeholders of the Islamic capital market.
Originality/value
The authors hope to shed some lights on the unique features and structural applications of SRI sukuk and its importance in becoming an effective instrument to raise funds for social agenda of a country by providing a real and practical example.
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In Chapter 5, the author will centralise the discourse on youth sexual misconduct in the focused SEA countries (Indonesia and Malaysia as the two Muslim-majority countries and…
Abstract
In Chapter 5, the author will centralise the discourse on youth sexual misconduct in the focused SEA countries (Indonesia and Malaysia as the two Muslim-majority countries and Thailand as a Buddhist-majority country). Addressed youth sexual misconduct encompasses underage sex, teenage pregnancy, and extramarital sex in SEA. The focus on these kinds of youth sexual misconduct hints at why these three countries are particularly highlighted owing to the controversy and significance. Per Islamic law, non-marital sex is religiously prohibited, where Indonesia recently passed the relevant law that criminalises non-marital sex. Upon the problematisation of these forms of youth sexual misconduct, the author will recommend policies that both local governments and the ASEAN could adopt and exercise in response to curtailing the prevalence of discussed delinquency. Overall, this chapter shall contain the scholarly value that helps SEA control or contain the social harms, directly or indirectly, inflicted by the prevalence of sexual youth delinquency.
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José Antonio Clemente-Almendros, Inés González-González, Luis Manuel Cerdá-Suárez and Luis Alberto Seguí-Amortegui
In this paper, the authors present an empirical framework that incorporates different factors of the impact of COVID-19 on small- and medium-sized enterprises (SMEs) in La Rioja…
Abstract
Purpose
In this paper, the authors present an empirical framework that incorporates different factors of the impact of COVID-19 on small- and medium-sized enterprises (SMEs) in La Rioja, Spain, in relation to the value chain, gender and family business and allows the evaluation of these impacts on the SMEs' outcomes.
Design/methodology/approach
The authors conduct exploratory research based on phone interviews with 329 business managers from SMEs in La Rioja (Spain), from June 1 to June 30 2021, using ordinary least squares linear regression and matching procedures to test the study hypotheses.
Findings
The results show that the impact of COVID-19 related to primary activities in adding value, such as inbound logistics, operations and marketing, have a positive influence on innovation outcomes in SMEs, as do female managers. Family SMEs present poorer innovation outcomes.
Practical implications
At the organizational level, this paper may be of interest to management, and at the national and regional levels to policymakers, since it could help to develop policies that support SMEs' sourcing, operations and marketing in order to prepare for potential value chain disruptions. Additionally, this research may help decision-makers to foster and promote innovation in SMEs as a way of ensuring their resilience.
Originality/value
In this paper, the authors provide novel evidence about the effect of COVID-19 in SMEs. Moreover, it has been shown that the COVID-19 pandemic has triggered the redefinition of supply chains at the organizational level.
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Fathullah Asni, Mohd Amirul Mahamud and Jasni Sulong
The purpose of this paper is to implement the istibdal waqf concept using a geographical information system (GIS) for the benefit of socio-economics and Muslim cemetery waqf…
Abstract
Purpose
The purpose of this paper is to implement the istibdal waqf concept using a geographical information system (GIS) for the benefit of socio-economics and Muslim cemetery waqf management. GIS is a technique that provides clearer, precise and faster access to a location based on actual space data. It attempts to analyze the area that one wishes to develop to establish whether it fulfills the criteria set for istibdal.
Design/methodology/approach
This research was conducted qualitatively. The study begins with the development of the concept of istibdal waqf and the concept of GIS. The concept was developed by conducting a literature review of books, articles, newspapers, fatwa and circulars related to istibdal waqf and GIS. After the concept was formed, field studies were conducted on two mosques, namely, Jamek Jelutong Mosque and Masjid Jamek Sungai Nibong because both mosques have gravesites located within their compound. To obtain information on the problems faced by the mosques Jemaah community, researchers have interviewed the Mosque Committee Members and Jemaah Community in both mosques using the unstructured interviewing method. This process is essential in managing both material and spiritual for sustaining socio-economics of the society.
Findings
The results showed that by applying GIS technique could identify new land locations according to the criteria set by istibdal. Additionally, new location environments found through the GIS application can be viewed more clearly and accurately than using the manual method. The findings also revealed that some of the mosque managers and the heirs of the waqf grave land were not open-minded in accepting the istibdal concept of the grave that had been allowed by the Syarak until the process of expanding the mosque was affected. The study also found that the maslahah consideration was considered between doing istibdal waqf and not doing istibdal waqf, the maslahah of doing istibdal waqf is greater because general (umum) maslahah should be prioritized compared to the special (khusus) maslahah. In addition, this effort can appreciate the morality and ethics of waqf donors to donate their wealth or properties for benefit of society.
Research limitations/implications
This study only focuses on Muslim cemetery waqf in Penang Island.
Practical implications
This study is expected to benefit both material and spiritual where Muslim cemetery site can be developed for expanding mosque site and consequently able to accommodate the increasing of Muslim using the mosque.
Originality/value
This study proposes the transformation of the concept of istibdal waqf from the traditional methods to modern and advanced methods using the GIS application. The study also demonstrates how the software for solving the real problem can be used, i.e. the problem of a limited mosque space for sharing space with a cemetery in Penang.