Over the past decades much effort and research has gone into establishing a viable set of Islamic financial institutions. An area of utmost importance, which still has gaping holes, is the development of instruments for government financing on a global level. Most
Conventional Micro Finance Institutions (MFIs) were established essentially to alleviate poverty. Despite their operations for more than four decades, the problems of poverty continue to aggravate. MFIs have been constrained by high cost of fund, high interest rate charge and poor human resource quality of the recipients. Islamic MFIs have recently evolved with the hope of overcoming these financial, ethical and human capital deficiencies faced by the conventional finance. Moreover, a good number of integrated models have been proposed to enhance the role Islamic MFIs.
This study investigate VAR Toda-Yamamoto causality test between macroeconomic variables and Islamic financial market. The purpose of this study is to analyze the information content of Islamic capital market and Islamic money market return with respect to several macroeconomic indicators. Using bivariate method, we found that Islamic capital market index (JII) has more content information than Islamic money market index (SBIS). The exchange rate and interest rate (SBI) significantly affected JII. Otherwise, none of the macroeconomic variables found to significantly affect SBIS.
The present study investigates the higher-order measurement model of the Islamic corporate social responsibility (ICSR) construct in business organizations in the Malaysian context. The study aims to contribute new knowledge to the existing literature of corporate social responsibility (CSR) in general, and ICSR in particular. Using disproportionate stratified random sampling, the survey data used for this empirical research was drawn from 219
Does Islamic Finance influence growth? The aim of this paper is to investigate empirically the impact of the Islamic Bank Financing on Malaysia’s economic growth over the period 2000Q1-2011Q4. The hypotheses addressed in this study are discussed within the framework of Demirgüç-Kunt & Levine/Chapra approach and the analysis of the Islamic Banking system. A neoclassical production function augmented by some indicators of the Islamic bank financing has been the theoretical framework of our empirical investigations.
This paper provides a critical review of the Islamic Economics (IEs) and Finance (IF) literature that have examined the stability of the Islamic Financial System (IFS) and its institutions vis-a-vis the conventional interest - based system. The authors have been able to analyze thirty four investigations over a thirty year period from 1983 to 2013. The research aims at providing an account of the main findings and conclusions of the literature, discuss the robustness and comprehensiveness of these findings, and highlight some venues for future explorations.
An understanding of financing behaviour explains the performance of Islamic banks as an alternative to the conventional finance model as suppliers of capital for businesses and entrepreneurs. In the Islamic banking system, banks are suppliers of capital and not lenders unlike that stipulated in a traditional banking system. To date, Islamic banks have become the major source of capital in Malaysia and lending behaviour is an important policy variable.
This paper presents a template for a
Several researchers in Islamic economics and finance subject have suggested that awqaf may contribute in alleviating poverty. In many countries, awqaf institutions are gaining attention not only from government but also from public sectors.