Pau‐Ling Tee, Salmah Yusof, Suhaila Mohamed, Nor Aimi Umar and Noordin Mohamed Mustapha
The efficacy of roselle as a functional food has been revealed lately, especially for its antioxidant bioactivity. In this study, the benefits of roselle were further studied in…
Abstract
The efficacy of roselle as a functional food has been revealed lately, especially for its antioxidant bioactivity. In this study, the benefits of roselle were further studied in vivo using the model of male Sprague Dawley rats fed with normal diets (C), 2.5 percent roselle (R), 2.5 percent roselle with 15 percent soybean oil (RO) and 15 percent soybean oil (O) for 25 weeks. The results demonstrated that supplementation of roselle in the diets significantly (p < 0.05) reduced the gross body weight and increased the high‐density lipoproteins cholesterol (HDL‐C) compared to the rats fed with normal diets and oil diets, and reduced the level of triglycerides in the serum. Serum total cholesterol of R group decreased compared to C but increased in RO compared to O group. Significant increase (p < 0.05) of serum uric acid was observed in R group at week 15 and 20. Addition of roselle in oil diet significantly decreased (p < 0.05) the malondialdehyde formation at week 20 and 25 but there was no significant effect of roselle on the catalase activity among the treatments at all time points. Suggests that roselle might play a role in the prevention of atherosclerosis and obesity.
Chow‐Chin Tong, Yew‐Keong Choong, Suhaila Mohamed, Noordin Mohamed Mustapha and Nor Aini Umar
The purpose of this paper is to report on the anti‐cholesterol activities of Ganoderma lucidum on Sprague–Dawley white rats.
Abstract
Purpose
The purpose of this paper is to report on the anti‐cholesterol activities of Ganoderma lucidum on Sprague–Dawley white rats.
Design/methodology/approach
Rats were divided into four groups with a sample size of six rats per groups. Different formula diets were given to each group for a period of six months. At regular intervals, blood samples were taken and analysed for the total cholesterol (TC), triglycerides (TG), high density lipoprotein cholesterol (HDL‐C) and low density lipoprotein (LDL‐C) levels.
Findings
Administration of hyperlipidemia diet in rats fed with 1 per cent cholesterol diet caused an increase in the TC, TG, as well as LDL‐C level as compared to the control. A decrease of 23.6 per cent in the HDL‐C level was also noted. However, supplementation of the feed with G. lucidum (0.1 per cent) in rats decreased the TC, TG and LDL‐C level significantly (P < 0.05) while further increased the plasma concentration of HDL‐C. In the case of rats fed with diet containing a mixture of 1 per cent cholesterol and 0.1 per cent of Ganoderma, the lipid profile showed much higher readings (p < 0.05) compared to the chol group.
Practical implications
The possible efficacy of G. lucidum in reducing the deposition of cholesterol in the wall of the blood vessels was indicated.
Originality/value
This article provides useful information to health care providers and consumers.
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Aishath Muneeza, Sherin Kunhibava, Ismail Mohamed and Zakariya Mustapha
The primary objective of this research is to introduce a pioneering takaful model that provides both provision and protection to the aging population by combining the concept of…
Abstract
Purpose
The primary objective of this research is to introduce a pioneering takaful model that provides both provision and protection to the aging population by combining the concept of cash waqf with takaful. This model is designed to align with Shariah principles, ensuring sustainability and enduring impact.
Design/methodology/approach
This research adopts a qualitative methodology, where a focus group discussion was conducted with six stakeholders. The participants consisted of takaful operators, legal experts and other industry players. The participants were presented with the proposed cash waqf takaful model and their feedback was recorded. Legal issues related to linking waqf with takaful were also identified and discussed.
Findings
The study highlights the need for innovative financial solutions to support Malaysia's aging population. It proposes a cash waqf takaful model, leveraging crowd funding for sustainability. Legal hurdles and recommendations for overcoming them are discussed, along with suggestions for future research on quantitative validation and regulatory frameworks. Ultimately, the study emphasizes the holistic approach of the proposed model in addressing the well-being of Malaysia's senior citizens.
Practical implications
The proposed takaful model presents opportunities for takaful operators to integrate Islamic social finance into their operations, enabling easier access to takaful for the elderly community. By eliminating financial barriers, it can transform the takaful landscape, ensuring inclusivity and financial security for aging populations. Moreover, policymakers see it as a blueprint for sustainable financial solutions and social welfare enhancement globally.
Originality/value
The study introduces a novel cash waqf takaful model to support Malaysia's aging population, leveraging crowdfunding for sustainability. It addresses legal challenges unique to Malaysia and proposes collaboration with State Islamic Religious Authorities. Furthermore, it emphasizes the need for further research to validate the model's effectiveness and explores its potential global policy implications.
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Azham, Ali, Lee Teck Heang, Rosli Mohamad and Marianne Ojo
The accounting profession has long faced the issue of an audit expectation gap; being the gap between the quality of the profession’s performance, its objectives and results, and…
Abstract
The accounting profession has long faced the issue of an audit expectation gap; being the gap between the quality of the profession’s performance, its objectives and results, and that which the society expects. Studies have been carried out worldwide to determine the effect of education in narrowing the audit expectation gap. Extending the knowledge acquired, this paper investigates whether internship program could reduce the audit expectation gap in Malaysia. Using a pre‐post method, the research instrument adapted from ferguson et al. (2000) is administered to the UUM’s accounting students before and after completing an internship program. The results show a significant change in their perceptions after the internship program. The results show a significant change in their perceptions after the internship program. However, changes in perceptions may not warrant an internship program as a means of reducing the audit expectation gap as misperceptions about the duties of auditors for fraud prevention and detection are still found among respondents. Nevertheless, an internship can still be used to complement audit education as it is an ideal way to expose students to professional issues and enables them to have a better insight of the actual performance and duties of auditors.
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Naji Mansour Nomran and Razali Haron
There is much debate in the literature about how the performance of Islamic banks (IBs) should be measured. Basically, IBs’ business models are different from that of conventional…
Abstract
Purpose
There is much debate in the literature about how the performance of Islamic banks (IBs) should be measured. Basically, IBs’ business models are different from that of conventional banks; thus, the performance of IBs should be measured by using a Sharīʿah-based approach. This paper considers zakat (Islamic tax) as an alternative indicator to measure the performance of IBs. This paper aims to examine whether zakat ratios can be used as Islamic performance (ISPER) indicators for IBs besides the conventional performance (COPER) indicators.
Design/methodology/approach
The investigation covered a sample of 214 yearly observations of 37 IBs located in Indonesia, Malaysia, Bahrain, Saudi Arabia and the United Arab Emirates for the period 2007–2015. This study used a single-factor congeneric model and confirmatory factor analysis, performed using the AMOS 23.0 software.
Findings
The findings assert that the discriminant validity of multi-bank performance, as measured by ISPER [zakat on assets (ZOA) and zakat on equity (ZOE)] and COPER indicators (return on assets, return on equity and operational efficiency in terms of assets), is very high. Hence, ISPER and COPER measurements are valid, either together to measure the multi-performance of IBs from both the Islamic and conventional perspectives, or independently as each measurement is valid to measure the Islamic and conventional performance if it is used separately.
Research limitations/implications
This paper does not investigate whether the findings are constant across time. This represents one of the limitations of this study.
Practical implications
It is strongly recommended that IBs calculate and disclose zakat ratios, particularly ZOA and ZOE, in their annual reports. Researchers and academicians should use these ratios for measuring the ISPER of IBs, either along with COPER or separately.
Originality/value
Empirical evidence is provided in this paper on the development and validity of zakat ratios as ISPER indicators in the Islamic banking industry. Zakat ratios are suitable indicators that can measure IBs’ performance and achieve the goals of IBs as well as those of Islamic economics. Technically, zakat has a dynamic ability to reflect the profitability of IBs. The more the IBs generate profit, the more they pay zakat. Furthermore, the greater the total assets of IBs, the higher the amount of zakat that they should pay. Thus, zakat ratios can be used as profitability measurements as in the case of tax ratios.
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This paper aims to examine two specific research issues among future members of the Malaysian accountancy profession. First, it explores the extent of committed academic…
Abstract
Purpose
This paper aims to examine two specific research issues among future members of the Malaysian accountancy profession. First, it explores the extent of committed academic dishonesty (AD) among accounting students in two institutions of higher learning in which Islamic orientation and emphasis are observably different. Second, it investigates whether pious accounting students are dishonesty-resistant, premising the investigation on the maintained assumption based on the Islamic religious scriptures that piety should be placed at the forefront of the crusade against academic malaise particularly AD.
Design/methodology/approach
Using a questionnaire survey to measure both AD and piety, the usable responses were analyzed using mean score and independent sample t-tests.
Findings
The results indicate that AD practices are within the safe and non-disturbing limit. The results on piety which form the crux of the research suggest that findings are sensitive to different piety measurement, indicating the need for a refine piety proxy in future Islamic piety research.
Originality/value
Notwithstanding the small sample based on only two universities, the results provide a critical basis for reality check and policy input on issues relating to AD and piety for all stakeholders, particularly in designing the relevant and necessary trainings and relevant policy formulation in addressing integrity issues in accounting education.
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Wan Masliza Wan Mohammad and Shaista Wasiuzzaman
The purpose of this paper is to investigate the effect of audit committee independence, board ethnicity and family ownership on earnings management in Malaysia.
Abstract
Purpose
The purpose of this paper is to investigate the effect of audit committee independence, board ethnicity and family ownership on earnings management in Malaysia.
Design/methodology/approach
The effect of audit committee independence, board ethnicity and family ownership on corporate governance is investigated via 1,206 firm-year observations between the fiscal years of 2004 and 2009 of Bursa Malaysia listed firms. Panel data regression analysis is used to analyze the relationship.
Findings
The findings of this study fail to associate the role of audit committee independence as proposed under RMCCG (2007) in curtailing earnings management activities, thus supporting the findings on power distance scores that power granted to the top management may result in less effective independent directors. Nonetheless, in support of the alignment effect theory, family ownership is found to reduce earnings management activities. The findings show that corporate governance is more effective in developing country family firms due to their long history of family reputation and the importance of institutional culture factors.
Research limitations/implications
This study focuses on board ethnicity, family ownership and its influence on earnings management.
Originality/value
This study offers insights into the importance of family institutional structures on corporate governance reforms in Malaysia as Malaysian family firms are mostly traditional firms that have built their reputation and strength in the industry for many generations.
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Muhamad Mu'izz Abdullah, Abdul Bari Awang and Mohamad Sabri Zakaria
This study aims to analyse the mechanism of trust instrument from a Shariah point of view. Analysis of the mechanism would determine the extent to which its implementation can…
Abstract
Purpose
This study aims to analyse the mechanism of trust instrument from a Shariah point of view. Analysis of the mechanism would determine the extent to which its implementation can resolve estate planning issues such as frozen estate and the issue of naming beneficiaries under the age of 18.
Design/methodology/approach
This is a qualitative study method through library research. To explore the mechanism of trust instrument, an in-depth interview with five participants using purposive sampling and analyses of documents were used. The selection of this sample allows the researcher to obtain specific data in their field of expertise. Therefore, two officers from the Trust Administration Department of Amanah Raya Berhad (ARB) and three Shariah advisors from ARB (MPS ARB) were interviewed to find out the mechanism of trust instrument from the Shariah perspective. The researcher also referred to the trust deed documents, ARB company policies, field case studies such nomination cases and trust accounts, articles and court cases.
Findings
The trust instrument meets Shariah requirements even though it is based entirely on the Civil Law. The comprehensive and flexible features of trust deeds can help donors to plan systematically during their lifetime.
Research limitations/implications
This study only focuses on the trust instruments that are currently being implemented in the ARB. Five trust products were analysed to achieve the objectives of the study, namely, the Normal Trust, Safecare and Safecare Premium, Takaful Care, Hibah (literally “gift”) as well as Trust and Declaration of Hibah.
Practical implications
The implementation of trust instrument at an early stage can ensure the property is well managed through a trust deed, guarantee the life of the beloved heirs after the death of the donor and prevent the property from being frozen.
Originality/value
This study comprehensively describes the trust instrument from the Shariah perspective and its implementation mechanism in the industry.
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Tahir Mahmood and Noman Arshed
The ailing agriculture sector in Pakistan demands a supportive financial sector. The low adoption of Salam financing by Islamic banks does not match the potential demand…
Abstract
Purpose
The ailing agriculture sector in Pakistan demands a supportive financial sector. The low adoption of Salam financing by Islamic banks does not match the potential demand. Empirical studies identified demand-led issues that led to a low proportion of Salam financing, but the exploration of supply-side constraints is overlooked.
Design/methodology/approach
This study has applied Interpretive Phenomenological Analyses on 20 interviews with the experts in the Islamic banking industry who play a role in decisions on Salam financing to the agriculture sector. The purpose of the study is to explore the determinants of low adoption of Salam financing by Islamic banks.
Findings
The experiences led to the major reasons for the low adoption of Salam financing categorized as intentions, attitudes and behavior control which corresponds to the theory of planned behavior.
Originality/value
This study is instrumental in exploring the supply-side constraints to Salam financing and helps find aligning theory to intervene via Islamic banking regulations.