Journal of Emerging Economies and Islamic Research
JEEIR is indexed in MyCite and DOAJ. The Journal of Emerging Economies and Islamic Research (JEEIR) (e-ISSN: 2289-2559) is a peer-reviewed, open-access online journal published bi-annually in January and June. Established in 2013, it succeeds the "Economic Bulletin" (2004-2007). The journal is published by UiTM Press, Universiti Teknologi MARA, Malaysia. Focus and Scope: JEEIR publishes original research focused on economics, finance, business, and management within emerging economies, Islamic contexts, or the intersection of both. Open Access: Committed to the diamond open-access model, JEEIR charges no fees to authors or readers for publication or access. Indexing: JEEIR is indexed at MyCite and DOAJ. The journal is also available in at Google Scholar, ECONBIZ, and ISC (Islamic World Science Citation Centre). We invite you to submit your papers using the submission link on the header of this page. If you have any questions, please do not hesitate to contact us via jeeir@uitm.edu.my IMPORTANT NOTICE The journal is currently migrating from Malaysia's Ministry of Higher Education (MOHE) server to UiTM's server. Please submit your new or revised submission by using this website. Do NOT submit using JEEIR's older website (https://myjms.mohe.gov.my/index.php/JEEIR/index). To view and download JEEIR articles from our older issues (2017 and older), please click HERE.
Exploring the need for a well-being assessment checklist for asnaf in agricultural entrepreneurship programmes
This study aims to examine the need for developing a well-being assessment checklist for asnaf (eligible zakat recipients) involved in zakat-based agricultural entrepreneurship programmes from the perspectives of experts and programme implementers. Adopting a qualitative research design, data were collected through in-depth interviews with informants comprising specialists in zakat, social well-being, and practitioners directly involved in agricultural entrepreneurship initiatives. Thematic analysis was employed to identify key needs underpinning the development of a more comprehensive assessment instrument. The findings indicate that the evaluation of asnaf well-being is currently not supported by systematic, structured, and multidimensional instruments. Strong consensus emerged on the necessity of a comprehensive checklist incorporating multidimensional indicators, including support and resources, quality of life aligned with maqasid shariah, economic and spiritual well-being, entrepreneurial competencies, future planning, and independence. Informants further highlighted the operational value of such a checklist in enhancing monitoring, transparency, accountability, and evidence-based decision-making within zakat institutions. Overall, this study provides empirical support for the development of a context-specific and practical well-being assessment checklist, with important implications for strengthening the effectiveness of productive zakat programmes aimed at improving the holistic well-being of asnaf.
Copyright (c) 2026 Noorfazreen Mohd Aris, Nurul Fadly Habidin, Fidlizan Muhammad https://creativecommons.org/licenses/by-nc/4.0
The effect of tax incentives, matching contributions, and perceived government policy on retirement savings behaviour
Malaysian civil servants generally have low retirement savings, which compromises their financial stability after retirement. As the population ages, living costs rise, and reliance on pensions remains substantial, improving retirement savings has become increasingly critical. However, there is limited evidence regarding the factors that affect this behaviour. This study investigates whether tax incentives, matching contributions, and perceptions of government policy predict retirement saving behaviour among Malaysian civil servants. It draws on the behavioural economic model and rational choice theory. Using a cross-sectional quantitative design, the study surveyed 285 permanent civil servants (Grades 9–15) with income tax records, selected through purposive sampling. Data were analysed using SPSS 29 and SmartPLS 4.0. The results showed that tax incentives and perceived government policy had a positive effect on retirement saving behaviour, whereas matching contributions did not. These findings highlight the role of incentives and policy perceptions, indicating that interventions such as tax incentives and automatic enrolment could improve participation in retirement savings schemes.
Copyright (c) 2026 Attia Azzarina Amirludin, Mohamad Nizam Jaafar, Sylvia Nabila Azwa Ambad https://creativecommons.org/licenses/by-nc/4.0
FinTech and SME supply chain efficiency: A scoping review
This scoping review examines how financial technology (FinTech) transforms supply chain operations for Small and Medium Enterprises (SMEs). Analyzing 22 peer reviewed articles, the study identifies key FinTech innovations such as blockchain, peer to peer lending, and digital payment systems and their impact. The analysis reveals seven primary themes where FinTech optimizes SMEs supply chains (1) enhanced risk management via real-time monitoring (2) data driven decision making (3) improved financial accessibility through alternative lending (4) predictive analytics for demand forecasting (5) sustainable supply chain financing (6) increased operational efficiency from automation and (7) strengthened customer relationships on digital platforms. Geographically, research is concentrated in developing economies, with a significant focus on China, highlighting FinTech's strategic role in addressing SMEs challenges in emerging markets. The findings demonstrate FinTech's substantial potential to facilitate faster transactions, improve working capital, and foster financial inclusion. However, barriers like cybersecurity risks, regulatory complexities, and limited digital literacy persist. The review concludes that future research should investigate the long term impacts of FinTech adoption, while policymakers must develop supportive regulatory frameworks. Strategic collaboration between financial institutions and SMEs is crucial to fully realize FinTech transformative potential in building resilient and efficient digital supply chains.
Copyright (c) 2026 Muhammd Hamdi Che Hassan, Lokhman Hakim Osman https://creativecommons.org/licenses/by-nc/4.0
Effects of Production Costs on Manufacturing Outputs in Nigeria: An ARDL Approach.
The imperative of a functioning manufacturing sector has long been recognised in the economics literature. Manufacturing sector has been described as the driver of economic growth and a quick way out of underdevelopment. However, in recent times, there has been an increasing cost of production, which continues to affect manufacturing production in Nigeria. This study examined the effect of production costs on manufacturing output in Nigeria. The study is anchored on the conventional supply theory, after which a time series regression model was specified for data covering 1981 to 2022. The ARDL estimation methodology was employed to estimate the equations in tandem with the results obtained from the unit root and cointegration tests. In order to confirm the accuracy of the model estimates, pertinent diagnostic tests were also performed. The result indicated that while government subsidy to manufacturing sector (as a negative cost) and government general capital stock have positive effect on manufacturing output, diesel price on the other hand, has a negative effect on manufacturing output in Nigeria
Copyright (c) 2026 Ridwan Olamilekan Dauda, Hamdalat Toluwalase Aremu, Abdulmalik Tope Sheriff https://creativecommons.org/licenses/by-nc/4.0
Comparing petro-plastic and bioplastics supply chains: Firm-level insights from the packaging industry
This paper empirically compares supply chain practices between petro-plastic and bioplastic carrier-bag industries. It examines how sourcing, production, and distribution differ between established fossil-based chains and emerging compostable alternatives, and how these differences affect operational performance and transition feasibility. A qualitative comparative design was applied to two product-based supply chains, petro-plastic and bioplastic carrier bags—within the packaging industry. Evidence was derived from 17 semi-structured interviews with senior executives, factory managers, buyers, and association representatives across Europe, Southeast Asia, the Middle East, and Australasia. Data were analyzed using Braun and Clarke’s six-step thematic approach, identifying three core themes: sourcing practices, production configurations, and distribution structures. The results reveal pronounced divergences in sourcing stability, process maturity, and distribution scalability. Petro-plastic chains benefit from global supplier networks and cost efficiency, while bioplastic chains face supply constraints, quality variability, and regionalized logistics. Managers must reconfigure sourcing, production, and logistics capabilities to align efficiency with sustainability compliance. This study advances sustainable supply chain literature by providing firm-level comparative evidence on how material transitions reshape operational practices in the packaging sector.
bioplastics petro-plastics supply chain practices sourcing production distribution packaging industry
Copyright (c) 2026 Muhammad Ayoub Danka, Shatina Saad https://creativecommons.org/licenses/by-nc/4.0
Does information opacity suppress qualified foreign institutional investor (QFII) investment? Evidence from QFII decisions in the A-share market
Since the removal of Qualified Foreign Institutional Investor (QFFI) quotas in 2019, foreign capital has become a pivotal long-term investor in China’s A-share market; yet systematic evidence on whether these institutions screen firms for information transparency at the micro level remains scarce. Examining 15,216 firm-year observations from 2019 to 2023, we proxy information opacity by the sum of absolute discretionary accruals over the preceding three years and estimate a Logit model of annual QFII holding decisions. A two-sample t-test shows that firms held by QFIIs exhibit significantly lower opacity than those not held, while the Logit results indicate that a one-unit increase in opacity reduces the probability of QFII ownership by 1.102 percentage points. These findings demonstrate that transparency serves as a primary threshold for foreign entry. Accordingly, regulators should therefore strengthen disclosure requirements, while firms should curtail earnings management, to enhance A-share attractiveness to long-horizon foreign capital and bolster China’s global market competitiveness.
Copyright (c) 2026 Yaojing Yang , Nor Farradila Abdul Aziz https://creativecommons.org/licenses/by-nc/4.0
Entrepreneurship challenges for persons with disabilities: A bibliometric analysis
Entrepreneurship offers a vital pathway for economic independence and social inclusion among persons with disabilities (PWDs). However, PWD entrepreneurs often face multifaceted barriers that limit their participation and success in the entrepreneurial landscape. This bibliometric study analyzes the scholarly literature on the challenges and barriers encountered by PWD entrepreneurs, using Scopus-indexed publications from 2000 to 2025. The analysis identifies key publication trends, influential authors, countries, institutions, and thematic clusters. The findings reveal an increasing scholarly interest in the topic, with research primarily concentrated in Western countries and dominated by qualitative approaches. However, significant gaps remain, particularly in exploring intersectionality, regional contexts in the Global South, and the role of digital technologies. The study highlights the need for more inclusive, data-driven, and context-sensitive research to inform effective policy and practice. It concludes by proposing future research directions and policy implications to support a more equitable and enabling ecosystem for PWD entrepreneurs.
Copyright (c) 2026 Faiz Azizan, Hardy Loh Rahim, Sharifah Zannierah Syed Marzuki, Muhammad Faizal Samat https://creativecommons.org/licenses/by-nc/4.0
Dynamic Paths to Islamic and Conventional Bank Cost Efficiency: When Size and Profit Collide in HIMI Economies
This study investigates the determinants of cost efficiency in Islamic and conventional banks operating in high-income and middle-income (HIMI) countries from 2015 to 2024, with a focus on the moderating effect of profitability on the relationship between bank size and cost efficiency. This study uses an unbalanced panel of 102 banks across 10 countries and employs a two-step system Generalized Method of Moments (GMM) approach. The results show that efficiency is persistent over time, indicating that past operational and governance practices have lasting impacts. Profitability directly improves cost efficiency and amplifies the benefits of larger bank size through economies of scale. Highly profitable Islamic and conventional banks demonstrate greater improvements in cost efficiency as their size expands. In contrast, banks with lower profitability experience only modest gains in cost efficiency as they grow. Higher credit risk reduces cost efficiency by increasing monitoring and compliance costs, while investments in intellectual capital are found to be vital for long-term competitiveness as it may slowly lower cost efficiency. Crisis periods are associated with higher efficiency, as resource constraints encourage tighter cost control. The findings provide important implications for policymakers, encouraging them to support efficiency without discouraging innovation and compliance. Finally, the study also lays out important implications for bank managers to strengthen risk management, strategically invest in intellectual capital, and leverage profitability to maximize the efficiency gains associated with the bank size.
Copyright (c) 2025 NUR HAZIMAH AMRAN, WAHIDA AHMAD, NUR SYAHIRAH ROKEMAN, SARAH NURSAADAH MOHD-ZAMERI, NOR HAZIRAH MOHAMAD-SHUKRI https://creativecommons.org/licenses/by-nc/4.0
Understanding zakat reporting practices in Malaysia: A case study of Shariah-compliant companies
This paper aims to investigate the zakat disclosure practices in Shariah-compliant companies in Malaysia. The zakat information is important for stakeholders of Shariah-compliant companies to know whether the company is paying zakat on their behalf or otherwise. Disclosing such information is also necessary to eliminate the uncertainties within the Shariah principles and avoid doubt among the stakeholders. This information is crucial, particularly for investors who may have different accounts with different Shariah-compliant companies, as they must know who is the party that pays the zakat. The objective of this study is achieved through analysing fifteen Shariah-compliant annual reports for the year 2023. The study used a content analysis covering the material aspects, including presentation, method use, obligations for payment of zakat, and components of zakat information. The results indicate that zakat disclosure practices remain low among the Shariah-compliant companies in Malaysia. The sample companies show a limited amount of information about zakat, such as the method used, the amount of zakat, and the components of zakat information. Furthermore, the zakat disclosure of the sample selection, whether following MASB Tri-1 or otherwise, does not meet the standard as recommended by the technical release.
Copyright (c) 2025 Syeliya Md Zaini, Nurul Hidayana Mohd Noor, Noor Azlin Mohd Kasim https://creativecommons.org/licenses/by-nc/4.0
Eco-investment efficiency and sectoral dynamics: Insights into sustainable finance strategies for emerging economies
This study evaluates eco-investment efficiency across Singapore’s key economic sectors using a refined general residual investment model. Drawing on 215 firm-year observations from 43 enterprises that issued green bonds between 2017 and 2021, the analysis assesses whether eco-investment levels align with optimal benchmarks. The model integrates conventional financial indicators (e.g., return on equity), sustainability-related metrics (e.g., green bond yield-to-maturity, carbon emissions), and governance mechanisms (e.g., audit quality, board structure, ownership concentration) to capture investment behaviour comprehensively. Findings reveal persistent underinvestment in eco-friendly initiatives within the telecommunications, residential, and international trade sectors, while the banking and finance sector exhibits signs of overinvestment. By disaggregating results by sector, the study highlights how institutional capacity, policy enforcement, and financial maturity shape eco-investment outcomes. Although Singapore is a high-income economy, its structured approach to green financing, regulatory governance, and sustainability disclosures offers transferable insights for emerging economies. Many emerging markets face barriers such as weak environmental regulation, limited access to green capital, and fragmented policy implementation. This study demonstrates how a coherent policy-finance-governance framework can address these challenges, improve investment efficiency, and support low-carbon development. The study contributes a replicable analytical framework and sectoral evidence that can inform policy and financial reform in emerging economies pursuing climate-aligned investment strategies. It also draws attention to the need for targeted financial instruments and governance mechanisms to overcome eco-investment gaps and enhance avenues for sustainable development.
Copyright (c) 2025 Renato Sitompul , Ramesh Nair, Zuraidah Mohd Sanusi, Syahrul Ahmar Ahmad https://creativecommons.org/licenses/by-nc/4.0
The impact of economic policy uncertainty on innovation types in enterprises: An empirical study of Chinese listed companies
This study investigates the heterogeneous effects of economic policy uncertainty (EPU) on different types of enterprise innovation, namely invention patents, utility model patents, and design patents, based on a panel dataset of A-share listed companies in China from 2007 to 2022. Employing a random-effects Tobit model to address the left-censoring nature of patent data, the analysis reveals that EPU significantly suppresses innovation across all categories, with the strongest inhibitory effect observed on invention patents. The influence of EPU is further moderated by firm-level characteristics such as market power and profitability, as well as regional institutional environments. Monopolistic firms reduce radical innovation under uncertainty, while higher profitability, and research and development (R&D) intensity consistently promote innovation output. Regional comparisons show that eastern firms emphasise short-cycle innovations, western firms benefit from policy subsidies supporting core technologies, and central firms lag across all innovation dimensions. Robustness checks using alternative EPU indices and instrumental variable techniques confirm the reliability of the findings. The study concludes with tailored policy recommendations aimed at stabilising the innovation climate and enhancing inter-regional coordination.
Copyright (c) 2025 Azlul Kalilah Zaghlol, Tang Guoru, J.S. Keshminder https://creativecommons.org/licenses/by-nc/4.0
Why Islamic finance is different? A Short Review of Islamic Jurisprudential Interpretation about Usury, Ambiguity (Gharar), Gambling (Maysir) and Exploitative Commercial Arbitrage (Talaqi alRukban)
Unlike the traditional Finance, Islamic finance must observe the teachings of Shari’ah whose basic teaching cannot be violated at any point in time. These basic teachings constitute the core element of the faiths that are best described as maqasid al-shari’ah. While prohibiting Riba, Gharar, Maysir, Islam promotes maslahah by protecting the interests and benefits of all parties involved in the market. This paper emphasizes on the main underlying causes (‘Illah) for the prohibition of these on the basis of Islamic and socio-economic point of views. This is paper is based on secondary sources such as classical books, articles etc. There is no difference of opinion among scholars that Riba, Gharar, Maysir is clearly prohibited by both Quran and the Sunnah. However, Questions continue to be raised about their meanings and implications because of the diverse applications in commercial transactions (Mu’malat). This paper is a humble attempt to clarify the meaning and implications of these terms.
Copyright (c) 2015 Mohammad Ashraful Ferdous Chowdhury https://creativecommons.org/licenses/by-nc/4.0
Remedial Measures for Financial Crisis in the Light of Prophetic Teachings
A few years ago the world suffered from a financial turmoil which emerged in the United States of America, Europe and Asia. It made a large population redundant; many businesses shuttered down and reduced consumption, production, purchasing power, GDP and leading many economies into deep recession. Consequently poor and middle class people found difficult to survive. In the beginning of the financial crisis many suggestions were propounded by economists, policy makers and bankers to reduce its impact. Several policies were implemented to combat against financial crisis yet billion of people are suffering from poverty and hunger. Prophetic teaching is a complete code of life; in its guidance there is a set of teachings which govern financial issues of the society and the market. This paper aims to explore the measure suggested in the light of the Hadith and the Quran.
Copyright (c) 2015 Irfan Shahid https://creativecommons.org/licenses/by-nc/4.0
Off-Balance Sheet Income Activities for Islamic and Conventional Banks
The aim of this study is to investigate the determinants of off-balanced sheet income activities, considering the bank-specific and macroeconomic factors as independent variables in Islamic and conventional banks in Malaysia. This study utilizes 16 Islamic banks and 14 conventional banks panel data from 2008-2013 and 2002-2013 respectively. The result shows that the determinants of off-balance sheet activities in Islamic banks in Malaysia are bank’s size (TA), bank’s profitability (NP), and interest rate (INT). While, the determinants of off-balance sheet activities in conventional banks are bank’s size (TA), bank’s profitability (NP) and the Real Gross Domestic Product (RGDP).
Copyright (c) 2015 Masturah Ma’in , Latifah Syaqirah Misni , Siti Sarah Mat Isa https://creativecommons.org/licenses/by-nc/4.0
Reducing Apathy in the Face of Corrupt Behaviour: Whistleblowing as an Act of ‘Amr bi-l-ma’ruf wa-nahy ‘an al-munkar
Islam promotes the principle of “amr bi-l-ma’ruf wa-nahy ‘an al-munkar”—enjoining good and forbidding wrong—as a foundational guideline for human social, political, and economic interactions, and as a core driver in maximizing human welfare. However, in today’s business environment, individuals often act within a rational framework focused on maximizing welfare, but frequently limit this to their own self-interest. To address this tendency, many institutions have introduced whistle-blowing provisions as a mechanism to deter misconduct or corruption and to support formal investigations within corporate or public organizations. Whistle-blowing holds significant value within the framework of “amr bi-l-ma’ruf wa-nahy ‘an al-munkar” as part of institutional governance, complementing educational and spiritual efforts. In many Muslim countries, issues in private and public institutions could have been prevented if individuals had acted on their suspicions and alerted the relevant authorities. While numerous studies emphasize the role of cultural and ethical backgrounds in influencing whistle-blowing motivations and systems, very few explore whistle-blowing within the Islamic doctrine of “amr bi-l-ma’ruf wa-nahy ‘an al-munkar” and its impact on the design and function of whistle-blowing mechanisms.This paper seeks to address this gap by drawing on elements of the Islamic hisbah system, as outlined by Imam al-Ghazali (d. 505H), to inform the development of whistle-blowing frameworks. A key implication for modern-day managers is the need to invest in approaches that tap into religious values and God-consciousness, emphasizing individual responsibility in promoting good and preventing wrongdoing.
Copyright (c) 2015 Khairunnisa Abd. Samad , Haniza Khalid , Saim Kayadibi https://creativecommons.org/licenses/by-nc/4.0
Enhancing Cross Border Connectivity: Venturing into Islamic Finance as a New Source of Infrastructure Financing
Connectivity among Association of Southeast Asian Nations (ASEAN) member countries has become a central issue, particularly with the establishment of the ASEAN Economic Community in 2015. However, progress in enhancing ASEAN connectivity—especially in infrastructure development—remains limited. A key challenge lies in mobilizing resources for project financing. In recent years, growing global demand for Islamic securities, especially in jurisdictions with strong legal frameworks and financial infrastructure, has made sukuk a cost-effective and preferred method of raising capital. This trend has attracted significant liquidity and positioned Malaysia as a leading global sukuk issuer and a prominent Islamic financial hub. This paper presents a case study of Malaysia’s use of public-private partnerships (PPP) for infrastructure development, highlighting its integration with Islamic financing. It further explores how this model can be adapted and expanded to other ASEAN member countries—particularly Cambodia, Vietnam, Laos, and Myanmar (CVLM)—where the need for infrastructure financing is urgent in order to support enhanced ASEAN connectivity and the broader goal of ASEAN community development.
Copyright (c) 2025 Saadiah Mohamad , Omar Salah , Mafrukhin Mokhtar , Sharifah Faigah Syed Alwi https://creativecommons.org/licenses/by-nc/4.0
Choice Between Economic Reforms and Political Reforms: An Empirical Analysis for Financial Development
The purpose of this study is to investigate the impact of economic and political reforms on the decisions related to Financial Sector development both in developed and developing nations. Panel of sixty nations divided almost equally in both sections for the time period 1990-2012 has been used. Using Discroll-Kraay Fixed Effect estimation technique, results revealed that in all cases either for whole panels or for separate developing and developed nations, process of economic reforms is playing most important role in the development of this sector among all other variables and this becomes more prominent in case of developed nations. While among political factors, role of Governance has been observed positive and strongly significant in its impact on the development of this sector for all cases. But Democracy showed positive effect only for developed nations not for developing nations which highlights this fact that consistency is the most required ingredient in case of economic development overall. Overall findings of the study helps in concluding that in case of developing countries, economic reforms are proving to be more fruitful and swift in their outcomes than political reforms.
Copyright (c) 2015 Azka Jamil Akhter , Saima Sarwar https://creativecommons.org/licenses/by-nc/4.0
The research analyses the determinants of FDI inflow in Asia for the period 1993-2013 and is based on the fixed effect model. The macroeconomic factors included are lending rate, GDP per capita, trade openness, debt, exchange rate, money supply and unemployment rate. The country specific factors included are adult literacy rate, gross fixed capital formation, domestic credit provided by the financial sector, environmental pollution and natural resources rents. The study applies panel unit root tests, panel cointegration analysis and panel regression analysis based on the fixed effect model to ascertain the significance of macroeconomic and country specific factors on FDI inflow in Asia. The study found that lending rate, trade openness and money supply have a positive significance to FDI per capita whereas debt, unemployment rate and environmental pollution have a negative significance to FDI per capita.
Copyright (c) 2015 Anita Hasli , Catherine S F Ho , Nurhani Aba Ibrahim https://creativecommons.org/licenses/by-nc/4.0
The people of Turkey ought to be congratulated for their hard work in achieving a sustained record of economic stability with growth over the last decade or more. Unemployment rate, particularly given the continuous growth of workforce, and inflation, remain the significant challenges. Nevertheless, Turkey maintained its Gross Domestic Product (purchasing power parity) share of the world’s total and improved its GDP’s percentage on exports of goods and services. Turkey’s exports to the UK have been growing steadily from about $2billion in 2001 to about $8billion in 2010 with the exception of 2009. Turkish industries in various sectors have been producing quality goods. In view of the growing popularity of the oriental drink Turkish “coffee” and that of coffee houses in England, one of the most innovative products of Turkey is the coffeemaker.
Copyright (c) 2015 Basil Mustafa https://creativecommons.org/licenses/by-nc/4.0
Islamic Financial Literacy among Bankers in Kuala Lumpur
This article presents the findings on the study that determines the factors which influence financial literacy of bankersaround Kuala Lumpur in term of Islamic financial products. The Governor of Central Bank of Malaysia pointed outseveral years ago that in order to make Islamic financial products acceptable to a wider spectrum of investors andbusinesspeople alike, financial literacy on Islamic financial products need to be enhanced. This is to facilitate transactions, with a clear understanding and appreciation of the unique characteristics and features of Islamic Financeand its real economic value. However, to date there is scarcity in the studies of Islamic financial literacy in Malaysia.This is proven when Kayed (2008) queries if there are any attempts by the research community to assess levels ofIslamic financial literacy in various Muslim communities. In addition, Ahmad (2010) also points out the importanceof Islamic financial literacy. These issues have actually motivated the current study to review available literatures onfinancial literacy mainly focusing on the Islamic financial literacy. The objectives of this study are (i) determine if thebankers possess adequate financial literacy to undertake financial decision with respect to Islamic financial products and services, and (ii) identify the significant factors that influence Islamic financial literacy among bankers. Factoranalysis is used in order to identify those factors that indicate banker’s Islamic financial literacy. The findings revealthat nine factors determine banker’s financial literacy on Islamic financial products and services
Copyright (c) 2025 Mohamad Azmi Abdullah, Alex Anderson https://creativecommons.org/licenses/by-nc/4.0
Halal Beef Handling in Nigeria: The Abattoir Workers’ Perspective
Despite Nigeria’s large Muslim population of approximately 77.3 million, limited research has been conducted to address the country’s Halal needs. This study explored the perspectives of abattoir workers involved in Halal beef processing at two abattoirs in Abuja. Primary data were collected through telephone interviews using semi-structured interview questions. While the National Agency for Food and Drug Administration and Control (NAFDAC) provides guidelines for Halal beef handling in Nigeria—guidelines that share similarities with those issued by the Department of Islamic Development Malaysia (JAKIM)—the findings revealed a general lack of awareness of both sets of guidelines among the interviewed abattoir workers. Participants reported that their understanding of Halal beef handling best practices was primarily based on personal beliefs rather than formal standards. This highlights the urgent need to increase awareness of NAFDAC’s guidelines and implement targeted training programs for abattoir workers in Nigeria. Additionally, it was observed that key logistics activities related to Halal beef—such as packaging, storage, and transportation—are often managed by third-party logistics (3PL) providers, making it challenging to verify the Halal integrity of the overall supply chain.
Copyright (c) 2015 Carrie Amani Annabi , Jinadu Lolade Ahmed https://creativecommons.org/licenses/by-nc/4.0
Theoretizing A New Sustainable Business Event: Extension of Mair and Jago Model
The growth of the event sector is driven by increasing demand for organizing business events, which in turn leads to greater economic and social impacts. However, this growth also presents potential challenges, particularly due to the use of various event materials, transportation, and infrastructure development. As a response, organizing green events is seen as a strategic approach to mitigating environmental impact. Therefore, the aim of this paper is to explore the issues encountered throughout the process of greening an event, using the Mair and Jago Model as a framework. Semi-structured interviews were conducted with event managers from six Malaysian business event companies that promote green practices during their events. The findings reveal that factors such as impact, initiative, support, and performance serve as key motivators for organizing green events. Conversely, knowledge, resources, and behavior emerged as significant barriers. Notably, two important factors deviated from the Mair and Jago Model: “impact” as a motivational element and “support” as a barrier. A key limitation of this study is its focus solely on business events. Nevertheless, since the primary goal is to explore the issues in organizing green events, it is evident that additional issues warrant investigation in different contexts and geographical areas. Being a case study, the findings are context-specific but may be generalized in terms of the theoretical insights they provide. Further research is recommended to explore broader issues in other settings and regions.
Copyright (c) 2015 Norol Hamiza Zamzuri, Khairil Wahidin Awang, Yuhanis Abdul Aziz, Zaiton Samdin https://creativecommons.org/licenses/by-nc/4.0
TERTIARY EDUCATED MUSLIM WOMEN’S WORK DECISION
The participation of women in the labour force has been steadily rising over the years, especially with tremendous human capital investment in educating more women at tertiary levels. However, the tertiary educated women labour participation remains low, particularly among Muslim women. Therefore, this paper explores how tertiary educated Muslim women make their decision to work. This study surveyed 139 tertiary educated women and found their decisions to work are affected by their families’ needs and/or responsibilities, and may not be due to their lives’ goals and dreams. The majority of them work for the sake of money and hence will work if offered jobs meet their expectations in term of salary and position. Furthermore, they will leave the workforce if they need to fulfil their responsibilities at home. Therefore, to retain or to encourage more women especially those with high qualifications to be in the labour market, stakeholders must provide family-friendly jobs and suitable work environment such as flexible working arrangements. More importantly, stakeholders must be able to convince the family members of tertiary educated women to release them to the labour market.
Copyright (c) 2025 Peck-Leong Tan, Muhammad Adidinizar Zia Ahmad Kusairee, Norlida Abdul Hamid https://creativecommons.org/licenses/by-nc/4.0
Economic Cooperation Among OIC Countries: A Case Study of Turkey and Malaysia
This paper investigates the bilateral relationship between two Organization of Islamic Cooperation (OIC) member countries – Turkey and Malaysia – in terms of economic cooperation. Although their cultural, political, and social relationship goes back to the thirteenth century, their current economic relationship has not yet reached the desired level. Although it has grown steadily over the last decade, the annual turnover is not as much as it should be. In 2000 the volume of trade between them was a modest USD 242 million; by 2006 it increased to USD 994 million, which made Malaysia Turkey's seventh largest trading partner in Asia. The following year, the trade volume exceeded USD 1.3 billion, an increase of 34 percent. Despite this growing trade, the trade balance has long been in Malaysia's favour. Turkey's trade deficit amounted to USD 1.2 billion dollars, an increase of 33%, in comparison with the corresponding figures for 2009. Surprisingly, by 2010 Turkish exports to Malaysia had risen to USD 93 million and imports from Malaysia had doubled to more than USD 498 million. Expectations are that bilateral trade in 2012 will rise to USD 2.5 billion, with Malaysian exports making up a large portion of that figure. Since it reached to this expectation it would be USD 5 billion by 2015. As Turkey and Malaysia belong to the OIC, they need to develop a bilateral strategic partnership. For this reason, Ankara has introduced such initiatives as “A Strategy to Improve Commercial and Economic Relations with Asia Pacific Countries,” “The Turkish and Malaysian Joint Economic Commission (JEC),” The Turkish-Malaysian Business Council,” and others. This research will try to find ways to increase their bilateral economic cooperation.
Copyright (c) 2015 Saim Kayadibi https://creativecommons.org/licenses/by-nc/4.0
Current state and future prospects of Islamic banking in Morocco: An empirical investigation
The purpose of the study is to review the current state of Islamic banking in Morocco, and to investigate the factors that influence the adoption of Islamic banking services in the country. Accordingly, a survey was conducted covering 400 respondents from most of the Moroccan regions, and data analysis was based on linear regression. The findings revealed that the main factors that influence the decision of the Moroccan customers to adopt Islamic banking services are relative advantage, compatibility and social influence. Furthermore, the findings revealed that the progress of Islamic banking in Morocco is faced by multiple legal and regulatory challenges.
Copyright (c) 2025 Hassanuddeen Abd. Aziz, Abdelghani Echchabi, Abdullah Mohammed Ayedh, Dhekra Azouzi, Osman Sayid Hassan Musse, Chaabane Oussama Houssem Eddine https://creativecommons.org/licenses/by-nc/4.0
Development, Growth and Challenges of Islamic Capital Markets: Comparative Insights from the Malaysian, Indonesian, United Arab Emirates and Brunei Markets
Despite initiatives and discussions in many countries to introduce Islamic capital markets, the share of non-banking assets in the global Islamic finance industry remains small. Islamic banking continues to dominate the Islamic finance portfolio with a gigantic 80.9% contribution towards the total Islamic finance assets as at year end 2011. Based on such statistical reality, one may wonder, what are the current growth and development trends of Islamic Capital Markets (ICMs)? To this end, this paper assesses the development, growth and challenges of Islamic Capital Markets in Malaysia, Indonesia, United Arab Emirates, and Brunei and critically analyses the fundamental factors that contribute towards the liquidity, volume and trends of the Islamic Capital Markets in these countries. Using Malaysia as a benchmark, this paper provides a comparative analysis on the performance of the various sectors of Islamic capital markets such as equity markets, debt markets, fund management markets, liquidity markets, etc. amongst the four sample countries. In addition, the paper examines the local authorities‟ initiatives‟ and future plans for firmly establishing Islamic Capital Markets in their jurisdictions and further recommends potential policies that could be introduced to maximize economic gains and societal welfare from Islamic Capital Markets for the Muslim population in general. Overall, the findings from the paper are expected to attract significant interest from Islamic finance stakeholders, in particular to understand how local authorities and other players could possibly be instrumental in shaping the development of Islamic Capital Markets. Keywords: , , ,
Copyright (c) 2025 Syed Faiq Najeeb, Mirza Vejzagic https://creativecommons.org/licenses/by-nc/4.0
Distributive Justice: A Perspective from Islamic Economics Literature
This conceptual research paper intends to provide a summative introductory to an important economic concept; distributive justice from a purely Islamic perspective. Despite its relevance to the prevailing socio-economic problems and role in our daily economic activities both at micro and macro levels, most discussions related to distributive justice are often rooted to works of western scholars. The efforts available are normally cursory in nature relative to processes of production and consumption. Justice being central to Islam in general and distribution an aspect that affects the wellbeing of people collectively awards the notion of distributive justice an interesting and significant place as an independent subject matter of analysis.
Copyright (c) 2025 Shafinah Rahim https://creativecommons.org/licenses/by-nc/4.0
Predictors of Financial Well-Being among Malaysian Employees: Examining the Mediate Effect of Financial Stress
Financial well-being and its impact on the quality of life among employees have received considerable attention from researchers, consumer and financial educators, practitioners and policy makers. The purpose of this study is to examine the determinant factors of employees’ financial well-being in Malaysia. The results of this study can be used for better understanding of the relationship between and among determinants of financial well-being by highlighting the relationships among financial literacy, financial behavior, financial capability, financial problem, and financial stress. Samples were selected using multi-stage sampling technique among employees in public and private sectors. A total of 2,000 completed questionnaires were analyzed using path analysis to identify direct and indirect effects on financial well-being. The results identified that financial well-being determinants were financial literacy, financial behavior, financial capability, financial problem; and financial stress had either a direct and indirect effect on financial well-being. The findings indicated that financial stress partially mediate the effect of factors on predicting financial well-being.
Copyright (c) 2025 Mohamad Fazli Sabri, Leila Falahati https://creativecommons.org/licenses/by-nc/4.0
Global Financial Crisis (GFC) And Islamic Banks Profitability: Evidence From MENA Countries
This paper investigate the determinant of profitability of Islamic banks from the MENA region and how Global Financial Crisis (GFC) impacts on their performance. The study covers 117 banks for periods of 2003 to 2011. To examine the determinant of Islamic banking profitability (ROA), we apply a balanced and dynamic panel data regression model. We conclude that the profitability of Islamic banks in the MENA countries is determined positively by asset size, equity to total asset, liquidity risk and negatively by capital adequacy ratio, innovation and global financial crisis. Positive and significant of asset size underlines the viability of economies of scale and scope. Foremost, Dummy for crisis is negative and significant indicating Islamic banks are not immune to the crisis. Innovation should be performed with caution, especially on Off-balancesheet activities.
Islamic Bank, GFC, Profitability, Innovation, MENA, Panel Data
Copyright (c) 2016 Abdul Mongid https://creativecommons.org/licenses/by-nc/4.0
Al-Qaradawi’s Juristic Perspectives On Zakah of Agricultural Wealth as Reflected in His Fiqh Al Zakah
This paper discusses al Qaradawi‟s perspective on several issues in zakah (alms) of agricultural wealth. It analyzes his juristic views on the issues as reflected in his master piece Fiqh al Zakah. This paper focuses mainly on three issues, namely, nisab of agriculture, deduction of debts and expenses and zakah on rented land. It is found out that al Qaradawi‟s perspectives on zakah of agricultural wealth based on the maqasid and he goes beyond the typical approaches of many Muslim scholars who only rely on the usul fiqh methods in deducing the rulings from the legal texts in Al Quran or Al Sunnah.
Copyright (c) 2025 Muhammad Ikhlas Rosele, Luqman Hj. Abdullah, Mohd Anuar Ramli https://creativecommons.org/licenses/by-nc/4.0