Pub Date : 2018-10-22DOI: 10.1108/978-1-78756-283-720181006
Nur Azreen Farihah binti Ahmad, A. Rahman
Abstract Purpose – This chapter analyses the socio-economic development of the Muslim community in Kelantan through the establishment of the Bazar Wakaf Rakyat (People’s Waqf Bazar). Methodology/approach – A qualitative method of data acquisition through interviews. Among the informants interviewed were the authority of waqf matter, the tenants of Bazar Wakaf Rakyat X, the tenants of Bazar Wakaf Y, the committee members of mosque X and local people in Kelantan. Findings – The research indicates that the Bazar Wakaf Rakyat plays a role in enhancing the economic and spiritual development of the Kelantanese people. Economic development occurs through affordable rental rates, job opportunities, the construction of Bazar Wakaf Rakyat in strategic locations and the types of products being sold. The Bazar Wakaf Rakyat built inside the mosque compound also plays a part in spiritual development. Originality/value – This chapter is the first to discuss issues relating to Bazar Wakaf Rakyat in Kelantan.
摘要目的-本章通过建立人民集市来分析吉兰丹穆斯林社区的社会经济发展。方法论/方法-通过访谈获得数据的定性方法。接受采访的告密者包括waqf matter的当局、Bazar Wakaf Rakyat X的租户、Bazar Wakaf Y的租户、X清真寺的委员会成员和吉兰丹的当地人。研究结果-研究表明，巴扎Wakaf Rakyat在促进吉兰丹人民的经济和精神发展方面发挥了作用。经济发展是通过负担得起的租金、就业机会、在战略地点建设Wakaf Rakyat市场和销售的产品类型来实现的。清真寺内的集市Wakaf Rakyat也在精神发展方面发挥了作用。创意/价值-本章是第一个讨论与吉兰丹人民集市有关的问题。
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Pub Date : 2018-10-22DOI: 10.1108/978-1-78756-283-720181004
Muhammad Ikhwan Mauluddin, A. Rahman
Abstract Purpose – Differing opinions about the status of cash waqf are not new among jurists. Several studies have been conducted relating to this issue. This chapter discusses cash waqf from the perspective of certain scholars in Indonesia, the Majelis Ulama Indonesia (MUI, Indonesian Scholars Council) and the scholars of Aceh, and the fatwa (opinion) on cash waqf. Methodology/approach – Data for this study were collected from interviews and academic literature to reach general and specific conclusions. The study was conducted in Aceh, Indonesia. Findings – Different views exist on the validity of cash waqf between the MUI and the scholars of Aceh. The MUI has declared that the practice of cash waqf is allowable and valid, while some scholars of Aceh reject it except when the cash is exchanged (istibdal) for permanent assets. Originality/value – MPU scholars and pondok scholars are not in agreement as to the legality of cash waqf. Pondok scholars reject the practice of cash waqf except if the money is substituted (istibdal) into a fixed asset. This is so even when many other scholars of Aceh ruled that cash waqf is still valid even if it is not converted into a fixed asset.
摘要目的——法学家对现金流地位的不同看法并不新鲜。关于这个问题已经进行了几项研究。本章从印尼的一些学者、Majelis Ulama Indonesia (MUI，印度尼西亚学者委员会)和亚齐学者的角度讨论现金流，以及关于现金流的fatwa(意见)。方法论/方法-本研究的数据收集自访谈和学术文献，以得出一般和具体的结论。这项研究是在印度尼西亚亚齐进行的。研究结果- MUI和亚齐学者对现金流的有效性存在不同的看法。MUI已经宣布现金waqf的做法是允许和有效的，而亚齐的一些学者则拒绝这种做法，除非现金被交换(法定)为永久资产。原创性/价值——MPU学者和pondok学者对现金流通的合法性意见不一。Pondok学者拒绝现金流通的做法，除非现金被替换(istibdal)为固定资产。即使亚齐的许多其他学者裁定，即使现金没有转化为固定资产，现金waqf仍然有效，情况也是如此。
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Pub Date : 2018-10-22DOI: 10.1108/978-1-78756-283-720181003
A. Rahman
Abstract Purpose – The purpose of this chapter is to study the concept of infaq in Islam, investigate its practice in Malaysia, analyse its role in public universities (PUs), investigate the issues and constraints of infaq for financing of higher education in Malaysia and suggest recommendations for improvement. Methodology/approach – This study used a qualitative methodology and was conducted to obtain information on the practice of infaq in financing tertiary-level education in Malaysia, to learn about the recommended practice of infaq in Islam, to analyse its implementation and to explore the constraints faced in the financing of higher education in Malaysia. Findings – This study indicated that the practice of infaq helps to ease the burden of rising fees and the cost of living for university students. Research limitations/implications – The study only focused on the role of infaq in financing higher education in Malaysia. The sample for this study involved four PUs in the Klang Valley. Originality/value – This study provides new contributions to the field of education infaq in Malaysia.
{"title":"Role of Infaq in Financing Students in Malaysian Public Universities","authors":"A. Rahman","doi":"10.1108/978-1-78756-283-720181003","DOIUrl":"https://doi.org/10.1108/978-1-78756-283-720181003","url":null,"abstract":"Abstract \u0000Purpose – The purpose of this chapter is to study the concept of infaq in Islam, investigate its practice in Malaysia, analyse its role in public universities (PUs), investigate the issues and constraints of infaq for financing of higher education in Malaysia and suggest recommendations for improvement. \u0000 \u0000Methodology/approach – This study used a qualitative methodology and was conducted to obtain information on the practice of infaq in financing tertiary-level education in Malaysia, to learn about the recommended practice of infaq in Islam, to analyse its implementation and to explore the constraints faced in the financing of higher education in Malaysia. \u0000 \u0000Findings – This study indicated that the practice of infaq helps to ease the burden of rising fees and the cost of living for university students. \u0000 \u0000Research limitations/implications – The study only focused on the role of infaq in financing higher education in Malaysia. The sample for this study involved four PUs in the Klang Valley. \u0000 \u0000Originality/value – This study provides new contributions to the field of education infaq in Malaysia.","PeriodicalId":419416,"journal":{"name":"New Developments in Islamic Economics","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133794401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-10-22DOI: 10.1108/978-1-78756-283-720181012
Mohammad Taqiuddin bin Mohamad, Siti Saidatul Akmal Arishin
Abstract Purpose – This study investigates the management of asset structures in Malaysia’s commercial banking sector. Methodology/approach – The study uses unbalanced panel data from 17 Islamic banks in Malaysia, covering the period 1997 to 2012. All significant data have been taken into account in analysing whether there is a relationship between asset structure management and certain factors involving bank-specific financial conditions and macroeconomic features. These include financing, deposits, profits, money supply, gross domestic product (GDP) and composite indices. Findings – The results reveal that asset management structure is significant for total financing, total deposits, money supply, GDP and composite indices. In conclusion, the management of asset structures acts to efficiently prevent any unexpected crises that may affect banking operations. Originality/value – The structure of asset management in Islamic banking is influenced by internal and external factors which have the most impact on asset management by Islamic banks. Islamic banking also provides more financing to reduce their risk and at the same time they attempt to increase deposits and investment in due to interest rate volatility in conventional banking.
{"title":"Determinants of the Asset Structure of Malaysian Islamic Banks: A Panel Study","authors":"Mohammad Taqiuddin bin Mohamad, Siti Saidatul Akmal Arishin","doi":"10.1108/978-1-78756-283-720181012","DOIUrl":"https://doi.org/10.1108/978-1-78756-283-720181012","url":null,"abstract":"Abstract \u0000Purpose – This study investigates the management of asset structures in Malaysia’s commercial banking sector. \u0000 \u0000Methodology/approach – The study uses unbalanced panel data from 17 Islamic banks in Malaysia, covering the period 1997 to 2012. All significant data have been taken into account in analysing whether there is a relationship between asset structure management and certain factors involving bank-specific financial conditions and macroeconomic features. These include financing, deposits, profits, money supply, gross domestic product (GDP) and composite indices. \u0000 \u0000Findings – The results reveal that asset management structure is significant for total financing, total deposits, money supply, GDP and composite indices. In conclusion, the management of asset structures acts to efficiently prevent any unexpected crises that may affect banking operations. \u0000 \u0000Originality/value – The structure of asset management in Islamic banking is influenced by internal and external factors which have the most impact on asset management by Islamic banks. Islamic banking also provides more financing to reduce their risk and at the same time they attempt to increase deposits and investment in due to interest rate volatility in conventional banking.","PeriodicalId":419416,"journal":{"name":"New Developments in Islamic Economics","volume":"71 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131999088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-10-22DOI: 10.1108/978-1-78756-283-720181009
Aisyah Mustafa, A. Rahman
Abstract Purpose – This chapter examines whether the underwriting processes of takaful operators for health takaful products conform to shariah. Methodology/approach – A qualitative research method has been used for this study. Data have been collected from primary sources through interviews and from secondary sources by examining relevant documentation. Interviews were conducted with underwriters from takaful operators A, B, C and D. Interviews were also conducted with the shariah executives of these takaful operators and with shariah experts from two institutions – University A and Research Institute B – for their opinions on the underwriting process. This selection of respondents from those responsible for the underwriting process and from experts in shariah has assisted us in locating data for our research, based on their experience and the practices in which they are involved. Findings – The study found that the underwriting process used by takaful operators was in accordance with Islamic principles. Research limitations/implications – The study is limited to four takaful operators in Malaysia who have received awards for best operators; this study focuses on health takaful products. Originality/value – This study provides a view about the process of risk selection which determines the contribution rate and whether a risk will be acceptable or not to the company.
{"title":"The Islamic Perspective on the Underwriting of Health Takaful Products: A Study of Selected Takaful Operators in Malaysia","authors":"Aisyah Mustafa, A. Rahman","doi":"10.1108/978-1-78756-283-720181009","DOIUrl":"https://doi.org/10.1108/978-1-78756-283-720181009","url":null,"abstract":"Abstract \u0000Purpose – This chapter examines whether the underwriting processes of takaful operators for health takaful products conform to shariah. \u0000 \u0000Methodology/approach – A qualitative research method has been used for this study. Data have been collected from primary sources through interviews and from secondary sources by examining relevant documentation. Interviews were conducted with underwriters from takaful operators A, B, C and D. Interviews were also conducted with the shariah executives of these takaful operators and with shariah experts from two institutions – University A and Research Institute B – for their opinions on the underwriting process. This selection of respondents from those responsible for the underwriting process and from experts in shariah has assisted us in locating data for our research, based on their experience and the practices in which they are involved. \u0000 \u0000Findings – The study found that the underwriting process used by takaful operators was in accordance with Islamic principles. \u0000 \u0000Research limitations/implications – The study is limited to four takaful operators in Malaysia who have received awards for best operators; this study focuses on health takaful products. \u0000 \u0000Originality/value – This study provides a view about the process of risk selection which determines the contribution rate and whether a risk will be acceptable or not to the company.","PeriodicalId":419416,"journal":{"name":"New Developments in Islamic Economics","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132301730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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