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Article
Publication date: 1 August 2004

Renuganth Varatharajoo and Mohamad Tarmizi Ahmad

Flywheels can serve not only as attitude control devices, but also as energy storage devices, thereby eliminating the need for conventional batteries. Hence, a combined energy and…

959

Abstract

Flywheels can serve not only as attitude control devices, but also as energy storage devices, thereby eliminating the need for conventional batteries. Hence, a combined energy and attitude control system (CEACS) consisting of a double counter rotating flywheel assembly is proposed for small satellites in this paper. The energy level in CEACS depends mainly on the flywheels' speeds. Therefore, a specific flywheel energy management strategy has to be implemented to take into account the limitations of the flywheels, which has not been established until today.

Details

Aircraft Engineering and Aerospace Technology, vol. 76 no. 4
Type: Research Article
ISSN: 0002-2667

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Article
Publication date: 19 June 2021

Nitty Hirawaty Kamarulzaman, Nur Aminin Muhamad and Nolila Mohd Nawi

The incredulity among Muslim consumers due to fake and doubtful halal logos has led to some querying the halal compliance and halal integrity among food small and medium…

1304

Abstract

Purpose

The incredulity among Muslim consumers due to fake and doubtful halal logos has led to some querying the halal compliance and halal integrity among food small and medium enterprises (SMEs). By using the traceability systems consumers may track and trace the movement of food products available in the market. The purpose of this paper is to investigate factors that influence food SMEs’ intention to adopt a halal traceability system.

Design/methodology/approach

A structured questionnaire survey was developed and administered to a systematic random sampling of 260 food SMEs. The data were analyzed using descriptive analysis, Chi-square analysis, Pearson correlation analysis and logistic regression analysis.

Findings

The results revealed a strong correlation between the environmental aspect (EA) and perceived usefulness (PU) of a halal traceability system. Sales turnover, PU, perceived ease of use, technological aspect, organizational aspect and EA are the factors that influenced food SMEs’ intention to adopt a halal traceability system.

Research limitations/implications

The context of this study is confined to the SMEs in the food industry in Peninsular Malaysia, thereby limiting the generalizability of the findings to other industries.

Practical implications

This study shows a halal traceability system facilitates food SMEs in enhancing their business and provides tremendous potential to further improve the halal industry in Malaysia.

Originality/value

The traceability system that is perceived to be easy and useful are the most influential factors toward the adoption of technology among food SMEs. Thus, this study confirms the growing importance of the halal traceability system in the food industry.

Details

Journal of Islamic Marketing, vol. 13 no. 9
Type: Research Article
ISSN: 1759-0833

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Article
Publication date: 18 April 2016

Hajer Zarrouk, Khoutem Ben Jedidia and Mouna Moualhi

The purpose of this paper is to ascertain whether Islamic bank profitability is driven by same forces as those driving conventional banking in the Middle East and North Africa…

6690

Abstract

Purpose

The purpose of this paper is to ascertain whether Islamic bank profitability is driven by same forces as those driving conventional banking in the Middle East and North Africa (MENA) region. Distinguished by its principles in conformity with sharia, Islamic banking is different from conventional banking, which is likely to affect profitability.

Design/methodology/approach

The paper builds on a dynamic panel data model to identify the banks’ specific determinants and the macroeconomic factors influencing the profitability of a large sample of 51 Islamic banks operating in the MENA region from 1994 to 2012. The system-generalized method of moment estimators are applied.

Findings

The findings reveal that profitability is positively affected by banks’ cost-effectiveness, asset quality and level of capitalization. The results also indicate that non-financing activities allow Islamic banks to earn higher profits. Islamic banks perform better in environments where the gross domestic product and investment are high. There is evidence of several elements of similarities between determinants of the profitability for Islamic and conventional banks. The inflation rate, however, is negatively associated with Islamic bank profitability.

Practical Implications

The authors conclude that profitability determinants did not differ significantly between Islamic and conventional banks. Many factors are deemed the same in explaining the profitability of conventional as well as Islamic banks. The findings reported in the current paper might be of interest for policy makers. It is recommended to better implement non-financing activities to improve Islamic bank profitability.

Originality/value

Unlike the previous empirical research, this empirical investigation assesses the issue whether Islamic banks profitability is influenced by same factors as conventional model. It enriches the literature in this regard by considering the specificities of Islamic banking to identify the determinants of profitability. Moreover, this study considers a large sample (51 Islamic banks) through a different selection of countries/banks than previous studies. In addition, the period of study considers the subprime crisis insofar it ranges from 1994 to 2012. Hence, this broader study allows the authors to draw more consistent conclusions.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 9 no. 1
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 14 March 2023

Muhamad Firdaus Ab Rahman, Hussein ‘Azeemi Abdullah Thaidi, Farhana Mohamad Suhaimi and Siti Farahiyah Ab Rahim

This study aims to propose a temporary waqf model for family waqf by establishing its application parameters, which may facilitate the management of family waqf in Malaysia and…

720

Abstract

Purpose

This study aims to propose a temporary waqf model for family waqf by establishing its application parameters, which may facilitate the management of family waqf in Malaysia and encourage new donors to establish waqf.

Design/methodology/approach

A qualitative methodology was employed to analyse the data through deductive and field research methods. For field research, this study conducted semi-structured interviews with the Waqf Corporations and Mufti's Department in the selected states within Malaysia.

Findings

Results drawn from the interview's findings are that creating family waqf in Malaysia is hindered by several obstacles, including family waqfs not serving the public interest but rather their descendants, and family waqfs have been practised in perpetuity. Besides, inefficient management of family waqf and a lack of an effective mechanism and parameter exists. Therefore, this study presented a conceptual framework for a temporary cash waqf model for family waqf along with the parameters that can be used to implement it. The temporary waqf is a strategy to develop waqf property and the interests of creators, beneficiaries and trustees. Temporary waqf merged into the family waqf yields benefits to the family waqf.

Research limitations/implications

Because of Malaysia's Waqf Regulation and Administration, this study was confined to selected states. This study has broadened the scope of temporary family waqf, including moveable, immovable property and cash waqf.

Practical implications

This study presented a temporary waqf model for family waqf as a realistic mechanism and criterion for its practical implementation in Malaysia.

Social implications

This study could encourage new donors to establish waqf.

Originality/value

This study’s novelty lies in its attempt to highlight the importance of the temporary waqf model as a practical mechanism with holistic principles for its implementation in Malaysia to benefit the donors, their families and trustees. In addition to family waqf, numerous temporary waqfs may be established, in which the income or usufruct is shared proportionally, such as charitable waqf (waqf khairi), private waqf (waqf khas) and joint waqf (waqf mushtarak).

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Available. Content available
Book part
Publication date: 12 July 2021

Abstract

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Water Management and Sustainability in Asia
Type: Book
ISBN: 978-1-80071-114-3

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Article
Publication date: 7 January 2021

Aries Susanty, Nia Budi Puspitasari, Sumunar Jati and Oktivia Selvina

The purpose of this paper is as follows: first, this study aims to identify the impact of internal and external factors on the implementation of halal logistics (IHL). Second…

1521

Abstract

Purpose

The purpose of this paper is as follows: first, this study aims to identify the impact of internal and external factors on the implementation of halal logistics (IHL). Second, this study aims to investigate the impact of internal factors on the IHL through competitive pressure (COP) as a moderating variable.

Design/methodology/approach

This study used primary data that were collected through offline questionnaires. The questionnaires were intended to identify the internal and external conditions of a company and the level of the IHL. The internal condition consists of five factors, namely corporate image and reputation (CRE), entrepreneurial intensity, social responsibility (SRE), expected business benefit and halal integrity (HIN). The external factors consist of demand or customer pressure (DCP), government support (GOV), market share expansion and COP. This study considered the factors belonged to internal and external companies on the basis of the conceptual model from Ab Talib et al. (2015), Zailaini et al. (2015) and Ab Talib and Chin (2018) as they have clearly distinguished the important factors for the implementation of the concept of halal into internal and external groups and most of those factors are frequently stated by the other researchers.

Findings

There were 148 questionnaires administrated, 84.5% of which were properly filled in, completed and returned. For internal factors, the result of the study confirms that CRE, SRE and HIN have a positive significant impact on the IHL. For external factors, the result of the study confirms that DCP, GOV and COP have a positive significant impact on the IHL. Then, the result of the study also confirms that COP can make the impact of good CRE on the IHL stronger. This condition did not happen for the other internal factors.

Research limitations/implications

First, it is debatable that internal and external factors and the IHL are only measured by the Likert scales. Future research may take the benefits of inducing qualitative approaches to better measure the condition of internal and external factors and the level of IHL practices through observation and probing. Second, this study was limited to the respondents from companies in Indonesia, which is a Muslim-dominant country and this study does not take into account the differences in the target market and the company’s owner, size of operation and financial capacity. Future research should test the conceptual model in a non-Muslim country and should include controlling for variables to generate a more conducive finding. Third, this study only uses the limited variable as the internal and external factors. Therefore, as many variables represent technological, organisational and environmental factors, they could be included in the future research framework.

Practical implications

This study practically contributes to the halal concept implementation body of knowledge by identifying the relationships between the internal and external factors and the IHL. Understanding this relationship will help the management of food, beverage and ingredient companies, as well as the government or policymakers in making better decisions and strategies to strengthen the IHL.

Social implications

The IHL may help the food, beverage and ingredient companies to be competitive and achieve organisational improvements.

Originality/value

This study is among the few studies that scrutinized the rationale behind the IHL by Indonesian companies. Although halal logistics plays a key role in protecting the halal status of any given product, this topic is still rarely explored, especially with the case study of Indonesian companies.

Available. Open Access. Open Access
Article
Publication date: 19 August 2022

Muhammad Izzul Syahmi, Mohammad Taqiuddin Mohamad and Mohd Anuar Ramli

There are two purposes to this study: first, to identify the status of ḥiyal (legal devices) in the offering of deposit products based on the tawarruq contract in the Malaysian…

3508

Abstract

Purpose

There are two purposes to this study: first, to identify the status of ḥiyal (legal devices) in the offering of deposit products based on the tawarruq contract in the Malaysian Islamic banking industry and second, to identify the reasons for the widespread offering of tawarruq-based deposit products by Malaysian Islamic banks (IBs).

Design/methodology/approach

The study uses the qualitative method that involved interviews with Malaysian Sharī‘ah experts and Islamic banking operations experts.

Findings

The findings show that Malaysian IBs resolved to use the tawarruq munaẓẓam contract in deposit products due to several constraints in the existing banking system and in view of customer preferences.

Research limitations/implications

This study solely focuses on tawarruq-based deposit products due to its extensive application in the Malaysian Islamic banking industry.

Practical implications

The implication of the study is that more stringent procedures are required in the offering of tawarruq-based deposit products as they are extensively utilised and have sparked controversy among Sharī‘ah scholars. Moreover, to retain Malaysia's Islamic banking reputation and trustworthiness, new and less controversial contracts must be developed.

Originality/value

This paper discusses the extensive usage of ḥiyal-based contracts such as tawarruq in Islamic banking institutions' deposit products, with justifications from Malaysian Islamic banking experts. The widespread use of the tawarruq munaẓẓam contract in deposit-based product offerings is based on a reasonable view considering the constraints that Malaysian Islamic banking is currently facing, with strict operation procedures by Bank Negara Malaysia to ensure real operations and to avoid fictitious elements. This paper reveals the use of tawarruq munaẓẓam in deposit products which allows the Islamic banking industry to operate effectively under Malaysia's dominant conventional banking system.

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 3
Type: Research Article
ISSN: 0128-1976

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Article
Publication date: 13 September 2023

M. Kabir Hassan, Aishath Muneeza and Ismail Mohamed

This paper aims to derive a compatible Shariah opinion on the permissibility of using cryptocurrencies by Muslims by reviewing the opinions expressed by Shariah scholars on the…

442

Abstract

Purpose

This paper aims to derive a compatible Shariah opinion on the permissibility of using cryptocurrencies by Muslims by reviewing the opinions expressed by Shariah scholars on the permissibility of cryptocurrencies.

Design/methodology/approach

This is a qualitative desk review research where the opinions expressed by the Shariah scholars on the permissibility of cryptocurrencies and the issues related to it have been analyzed using the literature. All the Shariah parameters checked pertaining to currencies have been studied and assessed to derive the Shariah opinion.

Findings

The research findings suggest that cryptocurrencies do not fully meet the characteristics of money according to Shariah principles. Scholars debate their classification as a medium of exchange due to concerns about volatility, intrinsic value and governance. The treatment of cryptocurrencies varies, and their decentralized nature prevents monopolization. Governance and resistance to manipulation are facilitated by blockchain technology. Classifying cryptocurrencies as hard money and their recognition as the primary unit of account face challenges. While they can be a store of value, price volatility and regulations must be considered. The network effect is crucial for their success, and their supply is controlled through complex protocols. These findings have implications for policymakers in Islamic finance.

Originality/value

The differences in Shariah opinions on using cryptocurrencies have been a major debate in the Islamic financial industry. A clear and comprehensive study is not found on the differences in the Shariah opinions on their reasonings, which is important for researchers and professionals in the field. Therefore, this research provides valuable insights for policymakers, scholars and practitioners in Islamic finance, contributing to the understanding of applying Islamic principles to cryptocurrencies.

Details

Journal of Islamic Accounting and Business Research, vol. 16 no. 2
Type: Research Article
ISSN: 1759-0817

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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: 16 August 2021

Fathullah Asni

This paper aims to investigate the differences in the practice of tawarruq munazzam contracts based on personal financing products. The researcher will then analyse the said…

1012

Abstract

Purpose

This paper aims to investigate the differences in the practice of tawarruq munazzam contracts based on personal financing products. The researcher will then analyse the said differences based on the potential for risk to occur and risk from a Shariah perspective.

Design/methodology/approach

This study’s methodology is qualitative, in which the data are collected through library research and field studies. The library research is conducted by examining books, articles, statutes and related circulars. From the practical aspect, field studies were conducted in an unstructured interview method with officers used in Islamic banks. The snowball method was used to determine the number of Islamic banks to be studied until no new information was obtained on the different practices of tawarruq munazzam contracts based on personal financing products.

Findings

The results show that there are differences in the practice of tawarruq munazzam contracts based on personal financing products practised by the Islamic banks studied. These differences have brought significant influence in determining the level of Shariah risk potentials and Shariah risks, respectively. The results also show that the highest number of the Shariah risk potential and Shariah risk in the Islamic financial institutions (IFIs) studied is 10 i.e. covering the issues of customer engagement, wa’ad (promise), commodity asset, gharar (uncertainty), wakalah (representative), ta’wid and gharamah, the willing but not an able debtor, qalb dayn and two prices in a transaction. Meanwhile, the least amount of the Shariah risk potential and Shariah risk in the IFIs studied is four, i.e. covering the issues of customer engagement, wakalah, the willing but not an able debtor and two prices in a transaction. Findings prove that there are opportunities for IFIs to minimise Shariah risk potential and risk in the personal financing products offered.

Research limitations/implications

This study is limited to the practice of tawarruq munazzam contracts based on personal financing products practised by IFIs in Malaysia.

Practical implications

The differences in the tawarruq munazzam contract practice show the distinctive elements in both Shariah risk potential and Shariah risk. Therefore, the findings of this study can be a guideline for IFIs to improve the practice of tawarruq munazzam contracts, especially in personal financing products in minimising Shariah risk potential and Shariah risk.

Social implications

The public confidence in Islamic banking is increasing as Islamic banks can minimise the Shariah risk potential and Shariah risk in tawarruq munazzam contracts based on the personal financing products offered.

Originality/value

This study analyses the differences in the practice of tawarruq munazzam contracts based on personal financing products by IFIs in Malaysia, which can impact Shariah risk potential and Shariah risk.

Details

Qualitative Research in Financial Markets, vol. 14 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

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