{"title":"探索以穆扎拉阿为基础的伊斯兰运行融资模式作为农业信贷替代方案的可行性","authors":"Hafiz Samiullah Daud, Saqib Sharif","doi":"10.1108/jiabr-12-2022-0352","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>This study aims to highlight the issues encountered by Islamic Banking Institutions (IBIs) while financing the agriculture sector and explore the feasibility of Muzara’ah (crop sharing contract on partnership basis) model based on the concept of revolving credit as an alternative to current models.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>To validate the proposed model and gauge the feasibility of Muzara’ah contract, a qualitative research method is applied based on 10 in-depth interviews with qualified industry experts and practitioners. These interviewees are selected following the purposive sampling method, and they belong to Sharīʿah board members of banking institutions, banking industry professionals engaged in agriculture lending, financial regulators (i.e. central bank personnel) and the farming community. Thematic analysis was applied to analyze the data.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>The findings of this study document that Muzara’ah can be a useful alternative/solution for the growth of agriculture sector portfolio of financial institutions. Muzara’ah is cost-effective than other Islamic products, including Salam (a kind of sale in which payment is made on the spot while the delivery of the goods is deferred), and carries the features of revolving credit as offered by conventional banks/counterparts.</p><!--/ Abstract__block -->\n<h3>Research limitations/implications</h3>\n<p>The main limitation of the study is that only 10 in-depth interviews are conducted.</p><!--/ Abstract__block -->\n<h3>Practical implications</h3>\n<p>The application of the Sharīʿah compliant Muzara’ah model based on the concept of revolving credit could help increase agricultural productivity and revenues and reduce poverty and food insecurity. The research will help IBIs to develop products on the concept of Muzara’ah for farmers and other sectors of the agriculture industry.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>To the best of the authors’ knowledge, Muzara’ah contract is not offered by formal banking institutions in Pakistan. Hence, the findings contribute to the existing literature and facilitate the policymakers and practitioners in implementing this financial product for the growth of the agriculture sector.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.5000,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Exploring the feasibility of Muzara’ah based Islamic running finance model as an alternative for agriculture credit\",\"authors\":\"Hafiz Samiullah Daud, Saqib Sharif\",\"doi\":\"10.1108/jiabr-12-2022-0352\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<h3>Purpose</h3>\\n<p>This study aims to highlight the issues encountered by Islamic Banking Institutions (IBIs) while financing the agriculture sector and explore the feasibility of Muzara’ah (crop sharing contract on partnership basis) model based on the concept of revolving credit as an alternative to current models.</p><!--/ Abstract__block -->\\n<h3>Design/methodology/approach</h3>\\n<p>To validate the proposed model and gauge the feasibility of Muzara’ah contract, a qualitative research method is applied based on 10 in-depth interviews with qualified industry experts and practitioners. These interviewees are selected following the purposive sampling method, and they belong to Sharīʿah board members of banking institutions, banking industry professionals engaged in agriculture lending, financial regulators (i.e. central bank personnel) and the farming community. Thematic analysis was applied to analyze the data.</p><!--/ Abstract__block -->\\n<h3>Findings</h3>\\n<p>The findings of this study document that Muzara’ah can be a useful alternative/solution for the growth of agriculture sector portfolio of financial institutions. Muzara’ah is cost-effective than other Islamic products, including Salam (a kind of sale in which payment is made on the spot while the delivery of the goods is deferred), and carries the features of revolving credit as offered by conventional banks/counterparts.</p><!--/ Abstract__block -->\\n<h3>Research limitations/implications</h3>\\n<p>The main limitation of the study is that only 10 in-depth interviews are conducted.</p><!--/ Abstract__block -->\\n<h3>Practical implications</h3>\\n<p>The application of the Sharīʿah compliant Muzara’ah model based on the concept of revolving credit could help increase agricultural productivity and revenues and reduce poverty and food insecurity. 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Exploring the feasibility of Muzara’ah based Islamic running finance model as an alternative for agriculture credit
Purpose
This study aims to highlight the issues encountered by Islamic Banking Institutions (IBIs) while financing the agriculture sector and explore the feasibility of Muzara’ah (crop sharing contract on partnership basis) model based on the concept of revolving credit as an alternative to current models.
Design/methodology/approach
To validate the proposed model and gauge the feasibility of Muzara’ah contract, a qualitative research method is applied based on 10 in-depth interviews with qualified industry experts and practitioners. These interviewees are selected following the purposive sampling method, and they belong to Sharīʿah board members of banking institutions, banking industry professionals engaged in agriculture lending, financial regulators (i.e. central bank personnel) and the farming community. Thematic analysis was applied to analyze the data.
Findings
The findings of this study document that Muzara’ah can be a useful alternative/solution for the growth of agriculture sector portfolio of financial institutions. Muzara’ah is cost-effective than other Islamic products, including Salam (a kind of sale in which payment is made on the spot while the delivery of the goods is deferred), and carries the features of revolving credit as offered by conventional banks/counterparts.
Research limitations/implications
The main limitation of the study is that only 10 in-depth interviews are conducted.
Practical implications
The application of the Sharīʿah compliant Muzara’ah model based on the concept of revolving credit could help increase agricultural productivity and revenues and reduce poverty and food insecurity. The research will help IBIs to develop products on the concept of Muzara’ah for farmers and other sectors of the agriculture industry.
Originality/value
To the best of the authors’ knowledge, Muzara’ah contract is not offered by formal banking institutions in Pakistan. Hence, the findings contribute to the existing literature and facilitate the policymakers and practitioners in implementing this financial product for the growth of the agriculture sector.
期刊介绍：
The journal provides a dynamic forum for the advancement of accounting and business knowledge based on Shari’ah and Islamic activities that have an impact on the welfare of society. JIABR publishes articles on the interplay between Islamic business ethics, accounting, auditing and governance, in promoting accountability, socio-economic justice (adl) and everlasting success (al-falah). It seeks to inform, among others, current theoretical and empirical research and practice in Islamic accounting, auditing and corporate governance, management of Islamic organizations, accounting regulation and policy for Islamic institutions, Shari’ah auditing and corporate governance, financial and non-financial performance measurement and disclosure in Islamic institutions and organizations. All styles of research, theoretical and empirical, case studies, practice-based papers and research notes that are well written and falling within the journal''s scope, are generally welcomed by the journal. Scope/Coverage Development of accounting, auditing and corporate governance concepts based on Shari’ah Socio-political influence on accounting and auditing regulation and policy making for Islamic financial institutions and organizations Historical perspectives on Islamic accounting, auditing and financial management Critical analysis on issues and challenges on accounting disclosure and measurement, Shari’ah audit and corporate governance Controls and risks in Islamic organizations Financial and non-financial performance measurement and disclosure.
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