Comparative efficiency of the Islamic Bank vis-a-vis conventional banks in Malaysia
This paper is an empirical study determining the relative efficiency position of the Islamic bank of Malaysia, i.e., Bank
Islamic Finance
Identifier
A
Money, interest and an alternative macroeconomic system
This paper discusses the peculiar nature of money, and how the introduction of interest-based financing disturbs the essential function of money and causes economic instability. An alternative system based on profit-sharing is proposed. It is shown that the profit-sharing system may lead to a higher level of investment and consumption and thus provide for greater economic stability. The alternative banking system can extend zero-interest consumer loans that would lead to higher consumption levels and lower general price levels.
Role of supreme audit institutions in shaping the Islamic economy in the 21st century
This study investigates the relationship between TQM and (i) product performance and (ii) organizational performance. Cross-sectional data of 405 manufacturing firms in Malaysia is analyzed using the chi-square test. The results indicate that TQM does not have a significant relationship with product performance. However, in terms of organizational performance, TQM has a strong association with product quality and development, sales and profit, marketing, commitment to customer, respect for top management, contribution of employees, and communication between divisions.