M. Sadiq Sohail, Jegatheesan Rajadurai and Nor Azlin Abdul Rahman
With increasing competition amongst higher education institutions to attract students, “quality” has emerged as a theme to be adopted. This paper undertakes a case study of an…
Abstract
With increasing competition amongst higher education institutions to attract students, “quality” has emerged as a theme to be adopted. This paper undertakes a case study of an institution, which has implemented a quality system and was the first private college in Malaysia to be awarded the ISO 9002 certification in total for all of its departments. The paper investigates the management system prior to adopting the quality system, reviews the implementation process and evaluates the effectiveness of the system on the academic departments. The paper reports findings of the study.
Nurul Ain Shahar, Anuar Nawawi and Ahmad Saiful Azlin Puteh Salin
This paper aims to examine the extent of the Shari’a corporate governance disclosure in the annual report of Islamic financial institutions (IFIs) in Malaysia to determine the…
Abstract
Purpose
This paper aims to examine the extent of the Shari’a corporate governance disclosure in the annual report of Islamic financial institutions (IFIs) in Malaysia to determine the significant differences in this disclosure between the local and foreign-owned IFIs, small and large size IFIs and IFIs belong to Islamic and conventional holding companies.
Design/methodology/approach
All 16 IFIs in Malaysia were selected to analyse the extent of disclosure in their annual reports on issues related to Shari’a corporate governance. For this purpose, an index of Shari’a corporate governance disclosure for IFIs was created based on adapting Sulaiman et al. (2015). The index consists of 127 items classified into 14 dimensions. The scoring of the disclosed items is binary, where a score of “1” if disclosed and “0” if it was not disclosed in the annual report.
Findings
The result shows no significant differences in the Shari’a corporate governance disclosure between the local and foreign-owned IFIs, small and large size IFIs and IFIs belonging to Islamic and conventional holding companies. However, further examination shows that there was a significant difference in the disclosure of the risk management committee dimension between the large and small IFIs and investment account holders dimension between the conventional and Islamic holding companies.
Research limitations/implications
The results provide new emerging evidence that deviates from many prior empirical research studies, which document the domination of Islamic-based IFIs in the corporate governance practices, as compared with their conventional financial institutions that venture into Islamic finance. This study, however, was conducted on only 16 IFIs in a one-year period, i.e. 2013. Future research should consider data from a larger number of IFIs that involve a number of countries with more than one year of data to have a better understanding of the extent of Shari’a corporate governance disclosure.
Practical implications
This study provides an indicator to the stakeholders of Islamic finance that the Islamic-based IFIs and conventional IFIs are equal and cannot be differentiated based on the Shari’a corporate governance disclosure. For Islamic-based IFIs, as a pioneer in Islamic banking and finance industry, they need to take more efforts in adopting the Shari’a governance framework issued by the Central Bank of Malaysia (BNM), namely, the Shari’a review, audit and risk management.
Originality/value
This study is original, as it includes the latest requirements by the Shari’a governance framework issued by the BNM, namely, the Shari’a review, audit, risk management and research functions in its research instrument. In addition, this research also scrutinised the disclosure in detail of all the dimensions constructed in the governance index.
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Azlin Alisa Ahmad, Mohd Hafiz Mohd Dasar and Nik Abdul Rahim Nik Abdul Ghani
This study aims to analyse the Shariah issues in the implementation of tawarruq contract in the Islamic profit rate swap (IPRS) instrument in Malaysia.
Abstract
Purpose
This study aims to analyse the Shariah issues in the implementation of tawarruq contract in the Islamic profit rate swap (IPRS) instrument in Malaysia.
Design/methodology/approach
This is a qualitative study in applying data analysis and semi-structured interview approaches. Data was collected from various documents including journals, articles and past studies conducted by scholars. To achieve the purpose of this study, the data is analysed based on thematic analysis.
Findings
The study found several Shariah issues regarding the implementation of tawarruq contract in the IPRS instruments, which have remained a dispute amongst the Islamic financial scholars such as its profit-making purpose, encouragement of debt, impediment of shared risk concept, disputed underlying assets, a deception towards allowing riba and dual agency.
Research limitations/implications
This study recommends several improvements such as the establishment of a neutral agency that does not represent any banking institution to manage the tawarruq contract commodity purchase from Bursa Suq al-Sila’ (BSAS). In addition, a neutral agency can provide aid in terms of transaction facility or at least consultation service for clients to enable them to conduct the commodity transactions independently.
Practical implications
Moreover, guidelines should be established on the separation of the deadline to sign the agreement of appointment of a bank as the commodity purchase agent and the agreement of appointment of the bank as the commodity sale agent on behalf of clients. All transactions related to tawarruq contract commodity must be done through BSAS. The regulators and industry experts may create a guideline for the IPRS based on the issues and recommendations that have been discussed in this study.
Originality/value
On the basis of the analysis of the criticisms and issues in the implementation of tawarruq contract in the IPRS instrument, the current study found that an intermediating institution is allowed to gain profits from transactions conducted so long as they are based on Shariah principles of contract in Islam. As there is no parameter specifically for IPRS, thus the suggested parameter can be used by policymakers such as the Central Bank of Malaysia to ensure the industry complies with Shariah principles.
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Bokolo Anthony Jr, Mazlina Abdul Majid and Awanis Romli
The purpose of this paper is to develop a collaborative agent-based web architecture and an agent-based green IS assessment tool to aid information technology (IT) practitioners…
Abstract
Purpose
The purpose of this paper is to develop a collaborative agent-based web architecture and an agent-based green IS assessment tool to aid information technology (IT) practitioners in data centers assess their current green information systems (IS) practice toward attaining sustainability.
Design/methodology/approach
The methodology comprises that the collaborative agent-based web architecture, agents’ algorithm and the green IS assessment tool, which is validated by employing focus group questionnaire targeting IT practitioners in seven Malaysian-based enterprises that have an in-house data centers. With 105 valid samples at hand, descriptive analysis and exploratory factor analysis was utilized to determine the applicability of the implemented agent-based green IS assessment tool.
Findings
Findings reveal that the agent-based green IS assessment tool possesses the capability to evaluate benchmark and rate enterprise data centers current green IS practice. Additional findings indicate that the agent-based green IS assessment tool provide suggestions on how green IS practice can be improved in enterprise data centers.
Research limitations/implications
This study only collected data from 105 IT practitioners in enterprise data centers based in Malaysia; as such results from this research cannot be generalized to other countries. Moreover, the developed collaborative agents for green IS practice assessment can only be fully deployed after domain experts has added green IS practice assessment questions and alternative answers.
Practical implications
This study presents an autonomous agent-based green IS assessment tool that supports the assessment of enterprise toward inclusion of sustainability considerations to enhance enterprise environmental performance.
Social implications
This study provides empirical evidence for data centers efficacy leading toward a greener society for environmental conservation for future generations to come.
Originality/value
This study creates awareness by presenting the green IS practice to be implemented by IT practitioners in data centers. In addition, the agent-based green IS assessment tool provides a web-based platform for promoting environmental sustainability by supporting data centers toward evaluating, benchmarking and rating their current green IS practices.
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This study aims to explore the current Green practices implemented in Malaysia higher education institutions toward sustainability attainment by developing a multi-disciplinary…
Abstract
Purpose
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.
Design/methodology/approach
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
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.
Research limitations/implications
Qualitative data is only collected from higher education institutions in Malaysia. Hence, findings from this study cannot be generalized to universities in other countries.
Practical implications
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.
Social implications
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.
Originality/value
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.