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The purpose of this paper is to explain the theoretical framework of money laundering and expanded to study it from the Islamic perspective. As money laundering sustain truly “global issues” and thus should be treated as such. The purpose is to examine the conception of money laundering under Islamic law in conjunction with the discussion of Islamic law of contract; the most common methods in money laundering involving numerous cash deposits at various bank branches, followed by the purchase of a secured bank instrument, such as cashiers' check; how far is Islamic law able to provide rules, norms in protecting financial institutions, customers and the public from criminal activities?

The paper depended on primary data. The data were procured from the Holy Quran, Prophetic Sunnah which embodied all tenets of Islamic law, and in addition, from the books of the Classical Muslim scholars.

It has been revealed that Islam has initially taken great interest in the market condition, business conduct and economic system. Generally speaking Islam law prohibits all business conducts which compromise unjustified consumption, misappropriation of one's wealth thus creating parasitical classes of people obtaining wealth and money being the root of all criminal activities; financial crimes and the concept of money laundering have been categorised as a division of Islamic criminal law which has been addressed via many provisions in the Quran and Prophet's Sunnah; the prophet and his successors have developed the Institution of Hisbah to control malpractices and criminal activities. Moreover, Islamic law prescribes a set of principles, rules and measures to deal with acts that are most likely to affect the economic scenario.

This invaluable paper identifies the attitude of the Islamic law in monitoring and preventing the concept of money laundering, further distinguishing between illicit gains (al‐Kasb al Haram) and lawful gains. Finally, this paper reviews the Islamic norms relating to confiscation and forfeiture of Ill‐gotten wealth and property.

The study investigates the extent to which organizational learning and innovativeness can improve the firms' performance through a customer-focused strategy.

Data were collected from Indonesian financial service firms using a questionnaire-based survey. The 157 useable survey responses were analysed to test the proposed hypotheses using SmartPLS.

This study finds that both organizational learning and innovativeness have a positive effect on performance. The effect of organizational learning on performance depends on the variations of the customer-focused strategy. However, innovativeness does not mediate through customer-focused strategy to enhance performance.

In firms that implement business model innovation, managers should focus on resource flexibility. Where it is responsive, managers need to be concerned with ensuring various uses of existing resources to understand the performance effectively.

As one of the types of dynamic capabilities, organizational learning and innovativeness are also important antecedents of performance.

This study extends the business innovation model from the adaptability of customer-focused strategy. The findings confirm that organizational learning has a prominent role in meeting customer needs for a dynamic market.

The performance of business enterprises is an impetus to every nation’s growth and development, as they constitute a multitude of businesses in most countries in the world. While ethical crises in the workplace are causing serious depletion in organizational performance and, in some cases, leading to total bankruptcy and the collapse of business in a developing country. This study aims to empirically examine the interaction effect of Islamic work ethics (IWEs) on the linkage between organization culture (OC) and enterprise performance (EP).

The survey method collected data from 531 managers of firms in the SME category of enterprises, using validated measurement instruments adapted from previous studies, and the data were quantitatively analyzed with Smart PLS SEM.

The results indicate that OC has a positive and significant effect on EP. The study also found that IWEs had a strong positive and significant impact on EP. The investigation revealed a significant effect of IWEs on the OC impact on EP. Therefore, we concluded that increased IWE practice will enhance the OC impact on EP.

This study contributes to the nexus of OC and EP as the first to investigate the interaction effect of IWE in an African context. Furthermore, the study suggests that if enterprise managers can exhibit Islamic work values, it will communicate and stimulate workers’ positive attitudes toward the organization. The creation of a harmonious and unethical behavior-free workplace environment would lead to improved enterprise performance. We presented theoretical and practical implications, along with recommendations for future research.

This paper aims to analyze the role of waqf in the socio-economic development of the organization of the Islamic Cooperation (OIC) countries. Various projects currently use waqf as an instrument for socio-economic development, as reported in the scholarly literature. This study will investigate this literature to explore trends in waqf studies and the role of this Islamic form of endowment in the socio-economic development of OIC countries.

This systematic literature review focuses on peer-reviewed journals and data obtained from the Mendeley database using specific criteria to analyze the socio-economic developmental role of waqf in OIC countries from 2011‐2020.

The socio-economic developmental role of waqf in OIC countries has been widely studied. In total, 68 academic articles were found that are relevant to themes of poverty alleviation, social welfare, entrepreneurship, education, health services and religious facilities. They reveal that the role of waqf in social welfare was the most discussed topic in the research. In addition, the majority of studies used an interview method to study waqf institutions in nine OIC countries. Furthermore, the number of publications on the theme has increased significantly every year, although the largest proportion occurred in unindexed journals.

This study provides an overview of research trends in the socio-economic developmental role of waqf. Its results can provide practical input for waqf institutions as they encourage its practice in OIC countries, and for policymakers in formulating their management strategies to promote the role of waqf in the social and economic aspects of society.

This paper reviews the current development of the socio-economic role of waqf in OIC countries. It will help researchers improve their understanding of this role. It will also provide waqf managers in OIC countries with adequate information on waqf projects which they can implement to achieve socio-economic development in their countries.

This paper aims to examine the extent of ethical values information disclosure on the top 100 Malaysian and Indonesian companies’ annual reports using coercive isomorphism under the institutional theory.

Using the content analysis, the presence or exclusion of ethical values information disclosed on 100 Malaysian and Indonesian companies’ annual reports using a newly developed Ethical Values Disclosure Index is carried out.

The results of the analysis found that Indonesian companies on average disclosed 31 items under study compared to 27 items disclosed by the companies in Malaysia. The results suggest that Indonesian companies are more vigilant in the code of ethics, companies policy on ethical issues, monitoring program and accountability, ethical performance, ethical infrastructure and organizational responsibility aspects, whereas their Malaysian counterparts are better in reporting governance and integrity committee or board of directors.

The findings may not be applicable to other countries in the same region, nevertheless, revealed the importance of adequate ethical values disclosure in determining the level of ethical behavior.

Companies in Indonesia are coercively pressed by various influential stakeholder groups to address ethical issues. The less disclosure regarding corporate ethical behavior may indicate that unethical practices continue to be a problem in the Malaysian corporate sector.

This paper adds to the literature by examining the elements of ethical values adapted mainly from the professional bodies that regulate the accounting profession and other organizations using the institutional theory, particularly in two countries.

This study aims to examine the association between the effectiveness of risk committee (RC) and firms’ performance in Malaysian context. It also explores whether political connection has an impact on the relationship.

This study, using a principle components analysis, derives a factor score for RC attributes to proxy the effectiveness of RC. It also uses both accounting and market performance to measure the company performance.

Using a sample of financial firms from 2004 to 2018, this study finds that both accounting and market performance are higher for firms with an effective RC. It also finds that the effectiveness of RC in monitoring and management of risks is more pronounced for politically connected firms (PCFs). In further tests, the paper finds that RC attributes (i.e. RC independence, qualification and gender) are positively and significantly associated with accounting performance, while those of RC existence and overlap are positively and significantly related to market performance. The study also finds that RC size (RC diligence) has a positive (negative) impact on financial firms accounting and market performance. The further analysis also shows that PCFs with a separate as well as larger RCs experience both higher accounting and market performance. This study’s results are robust for concerns of endogeneity.

The findings of this study resolve the ongoing debates surrounding political connection by suggesting financial firms not to have politically connected board members as doing so may deteriorate their performance. This study’s results are also useful for investors, regulators and policymakers.

To the best of the authors’ knowledge, this study, for the first time, introduces on the interaction term between the effectiveness of RCs and political connection to empirically explore how an effective RC may reduce the potential risk of political ties. As such, this study adds to the literature and sheds light on an aspect of risk (i.e. risk stems from establishing close link with the government) that is growing in importance.

Money laundering offences occur worldwide, with recent discussions involving issues related to the low levels of compliance among professional accountants towards the anti-money laundering (AML) regime. Under the regime, professional accountants are required to implement compliance programs (Know Your Customer, Clients Due Diligent, Record Keeping) and to submit any suspicious transaction report encounters to the authorities. Due to the lack of research in this sector, this study aims to examine the compliance determinants towards AML regimes among professional accountants in Malaysia.

Premised on protection motivation theory, a questionnaire was developed and distributed among 1,100 professional accountants. Of which 275 questionnaires were returned and subjected to regression analysis.

Based on the findings, “perceived risk of non-compliance” and “awareness of Anti-Money Laundering Act 2001 and Financial Action Task Force standard” were significantly related to the level of compliance towards the AML regimes. Meanwhile, “compliance cost” did not influence the compliance behaviour of professional accountants. Moreover, the findings demonstrated that awareness programs among the reporting institutions should be enhanced, specifically the professional accountants.

This study recommends the professional bodies particularly professional accountants in Malaysia to establish a blueprint as a guideline for money laundering reporting.

This is one of the pioneer studies looking into AML compliance determinants among the professional accountants in Malaysia. This study will provide insights on the current practices and recommend ways to improve the current AML reporting practices among the professional accountants.

This study aims to explore the current Green practices implemented in Malaysia higher education institutions toward sustainability attainment by developing a multi-disciplinary comprehensive policy framework to further extend the collaboration among sustainability practitioners in providing integrated data on Green indicators linked to economic, social and environmental dimensions of sustainability in higher education institutions.

Primary data which comprises of sustainability archival documents from sixteen universities in Malaysia was used to explore the extent of Green practice for sustainability. In addition, this study also used secondary data from existing literature on sustainable development in Malaysia higher education institutional context.

Findings from the examined 16 universities and prior sustainability studies in Malaysia universities suggest that higher education institutions in Malaysia are presently implementing Green practices in their university campuses toward attaining sustainability.

Qualitative data is only collected from higher education institutions in Malaysia. Hence, findings from this study cannot be generalized to universities in other countries.

This study provides insights toward infusing Green campus paradigms from a technological perspective to facilitate the exchange of information between sustainability practitioners to produce innovative solutions for addressing sustainability challenges.

This research developed a policy framework that provides trans-disciplinary approach to be adopted by higher education institutions in Malaysia and further beyond toward attaining sustainability. Socially, this study provides Green indicators that act as a reference manual and road map toward sustainable development in higher education institutions.

A novel multi-disciplinary comprehensive policy framework is developed grounded on identified Green indicators integrated to provide information on how sustainability practitioners can implement Green practices paradigms across universities. Furthermore, the Green indicators can be used as metrics to provide data for Green practice measurement and monitoring in higher education institutions.

This study aims to explore farmers’ perceptions of environmental impacts of dairying and their practices towards implementing environmental management accounting (EMA) techniques.

Semi-structured interviews were held with five dairy farmers in the South Island of New Zealand (NZ).

Dairy farmers perceive environmental sustainability in dairying as being able to feed people while protecting the environment so that future generations can also enjoy the natural world. Recognising the need to alter their practices to reduce environmental damage they have produced, dairy farmers use some EMA techniques, but the primary motivation is compliance with government regulations. Other motivations for using EMA techniques are high economic returns, maintaining their reputation and self-satisfaction. Barriers to implementing EMA techniques are primarily due to lack of clarity and feasibility of regulations, coercion and inadequate communication by regulators and high compliance costs.

The findings contribute to the current EMA literature by providing a better understanding of EMA practices of dairy farmers in NZ, barriers to implementing EMA and how those barriers could be reduced. It may also help NZ central and local government in developing environmental strategies and policies. Furthermore, this research is expected to help people in the dairy industry to find ways to educate farmers about how the measures that are required can help them to reduce both the environmental impacts and the costs of dairying, thus contributing to sustainable development globally.