Hawwa Abdul Mokti, Nor Azzah Kamri and Mohd Abd Wahab Fatoni Mohd Balwi
The purpose of this study is to examine and review tayyiban indicators in the context of halal food production. In Islam, food produced or manufactured must be halal and tayyiban…
Abstract
Purpose
The purpose of this study is to examine and review tayyiban indicators in the context of halal food production. In Islam, food produced or manufactured must be halal and tayyiban. Even though both halal and tayyiban are always mentioned together in the Quran, the halal aspect is highlighted more than tayyiban. The discussion of tayyiban’s indicators is still vague.
Design/methodology/approach
The study was adopted based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses for the review of the current research which used two main journal databases, namely, Web of Science and Scopus. Accordingly, the search resulted in a total of 40 articles that can be systematically examined.
Findings
The results of review of these articles formulated five main themes: safety, nutrition, cleanliness, quality and authenticity. These five indicators are considered relevant enough in the context of halal food production to build a comprehensive tayyiban concept.
Originality/value
This study enriches the field of halal food research. The concept of tayyiban as a whole has been given limited attention in academic literature. At the end of this study, a number of recommendations are suggested for the reference of future scholars.
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Nor Aini Ali, Wan Marhaini Wan Ahmad, Suhaili Sarif, Nor ‘Azzah Kamri and Raihanah Azahari
Purpose – This chapter examines the application of the concept of maslahah in household debt management.Methodology/approach – A combination of quantitative and qualitative…
Abstract
Purpose – This chapter examines the application of the concept of maslahah in household debt management.
Methodology/approach – A combination of quantitative and qualitative approaches is employed. Questionnaires were used for data collection.
Findings – Malaysian Muslims become indebted for four main purposes: buying their first car, their first home, helping family members, and financing their studies. Thus, Muslims principally borrow funds to fulfil their dharuriyyat (essentials) and hajiyyat (complementary) needs, and in some cases, they borrow for tahsiniyyat (luxury) purposes.
Research limitation/implications – The respondents of this research are working Muslims in the Klang Valley, Kuala Lumpur, Malaysia.
Practical implication – This study helps Islamic finance institutions to develop better products to offer customers. Its results can also give a real picture about borrowing activities to the Credit Counselling and Debt Management Agency.
Originality/value – Prior studies have mainly examined household debt management. This study surveys local Muslims’ household borrowing pattern to understand the nature of personal debt management and then analyses these data against the concept of maslahah. This will enrich the currently available literature.
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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.