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Interest Rates and Islamic Commercial Property Financing: Can There Be a Possible Solution?
No full textThis study aims to investigate the dynamic interaction between interest rates and commercial property financing offered by Islamic banks in Malaysia. Design/methodology/approach – The authors use the autoregressive distributed lag (ARDL) cointegration methodology to analyse the short- and long-run effect of the interest rates and rental rates on commercial property financing of Islamic banks in Malaysia between 2010: Q1 and 2018: Q2. Findings – The findings reveal that changes in interest rates affect Islamic commercial property financing. This indicates that Islamic banks still rely on interest rates as a benchmark without fully implementing Islamic rental rates. This corroborates the subsequent finding, where overnight policy rates influence commercial property financing. Research limitations/implications – Despite the authors’ attempt to provide insights into Islamic commercial property financing, the study is limited to secondary data; further research can use survey information to obtain other details that are not included in this study. Similarly, this study does not cover the operation and financial lease debate in Musharakah Mutanaqisah. Future studies can examine the challenges faced by the financial institution towards implementing rental rates in other emerging and developing countries using a different methodology. Originality/value – This study is the first to investigate the dynamic changes in overnight policy rates, average lending rates and rental rates on Islamic commercial property financing in Malaysia using ARDL techniques. The authors uncover the research and institutional implications of Islamic commercial property financing rates and provide policy and future research directions coupled with the proposed modified rental rate to be developed. Paper type Research pape
The Internal Value of Akhlak in Kaba Si Sabariah For Educational Character Development = Nilai Akhlak dalam Kaba Si Sabariah bagi Pembangunan Sahsiah Pendidikan
Get PDFKajian ini bertujuan untuk mengenal pasti nilai akhlak yang terkandung dalam karya sastera. Kajian ini menerapkan kaedah analisis kandungan yang melibatkan pengumpulan karya Kaba Si Sabariah dan menganalisis nilai-nilai akhlak yang ditemukan. Hasil kajian menunjukkan terdapat lapan nilai akhlak dalam data kajian. Nilai-nilai ini boleh digunakan sebagai bahan pengajaran untuk mendorong penghayatan keimanan, ketakwaan kepada Tuhan Yang Maha Esa dan pemantapan akhlak mulia, yang merupakan salah satu daripada enam dimensi profil pelajar Pancasila. Dalam pengajaran akhlak, mempelajari karya sastera seperti Kaba Si Sabariah adalah sangat relevan dan boleh membantu memperkukuhkan pengajaran nilai-nilai akhlak kerana karya sastera mempunyai daya tarikan yang kuat untuk menyampaikan mesej-mesej ini. Oleh itu, kajian ini menyumbang kepada pembangunan pendidikan akhlak melalui karya sastera sebagai sumber pendidikan yang berharg
The Role of Islamic Financial Literacy from The Perspective of Maqasid Al-Shariah: A Case Study of Community of Naka in Kedah
Get PDFThe research highlights a limited understanding of Maqasid al-Shariah and financial management principles among the rural community, coupled with inadequate digital and financial literacy. Economic hardships, lack of access to modern financial tools, and insufficient emphasis on long-term planning hinder their ability to achieve financial stability and align their practices with Islamic financial goals. Islamic financial literacy, when viewed through the lens of Maqasid al-Shariah, offers a holistic and ethical approach to financial management that aligns with the core objectives of Islamic law. Maqasid al-Shariah, aim to promote the welfare of individuals and society by preserving religion, life, intellect, progeny, and wealth. This study examines how these objectives shape financial literacy within an Islamic framework, emphasizing principles such as the prohibition of Riba (interest), the importance of Zakat (charitable giving), ethical investment, and the avoidance of extravagance and waste. The research employs a qualitative approach, utilizing secondary data collection through desktop research to analyze existing literature on Islamic financial literacy from the perspective of Maqasid al-Shariah. Additionally, it incorporates findings from a case study conducted in Naka, Kedah, focusing on the financial literacy and Islamic financial practices of villagers, supported by a pilot test with 27 participants who responded to workshop-survey sessions. By promoting a balanced and just approach to wealth management, Islamic financial literacy guided by Maqasid al-Shariah aims to advance financial stability, social equity, and overall well-being, thereby contributing to the holistic development of both individuals and communities. This research contributes by integrating Islamic financial literacy with Maqasid al-Shariah, offering a holistic framework for ethical financial management that promotes social welfare, enhances financial stability, and provides practical insights for empowering underserved communities through targeted education and tools aligned with Islamic principle
Halal Certification: Legal and Ethical Consideration in Islamic Jurisprudence
Get PDFThe article examines the moral and legal issues related to halal certification within the context of Islamic jurisprudence. This study also aims to examine the halal certification process' guiding principles and how they affect Shariah law compliance. The research employs a qualitative technique to investigate fundamental Islamic scriptures and modern fatwas to define the standards for halal certification and the moral obligations of certifying agencies. The findings show that halal certification reflects wider ethical convictions in Islamic finance and consumer practices, serving as more than just a regulatory instrument. The study identifies key elements affecting halal certification, such as the need for transparency, observance of Islamic dietary regulations, and the function of Shariah supervisory bodies in guaranteeing conformity. It also draws attention to the difficulties certifying bodies confront in upholding integrity and public trust in the face of expanding market demand. The article concludes by stating that halal certification greatly aids in adhering to Islamic beliefs and fostering ethical consumption. To guarantee that halal certification procedures correspond with the developing interpretations of Islamic jurisprudence, it advocates for increased cooperation between Islamic scholars and certifying bodies. This will promote ethical business practices and increase customer confidence in the halal marke
State of Entrepreneurship Education in Malaysia: A Comparison of Entrepreneurship Programs in Public Universities in Malaysia to International Practice
Get PDFThis study provides a comprehensive exploration of entrepreneurship education in Malaysia, focusing on institutional and government initiatives to stimulate innovation, economic growth, and job creation. Despite compulsory entrepreneurship subjects in public universities, a significant rise in graduate entrepreneurs remains elusive. The study assesses the state of entrepreneurship programs in Malaysian institutions and benchmarks them against Babson College in the United States. Content analysis and interviews with 12 successful entrepreneurs scrutinize program outcomes and course offerings at Universiti Utara Malaysia and Universiti Malaysia Kelantan, comparing them with Babson College. Secondary data, obtained through desktop reviews, illuminate Malaysia’s entrepreneurship education courses, assessed through university websites. Literature searches across databases and primary qualitative data offer in-depth insights, employing a mixed-methods approach to comprehensively address the research problem. Triangulation enhances data credibility, while qualitative and quantitative data from experienced entrepreneurs provide practical implications. Findings underscore the need for foundational entrepreneurship education, practical skills, and diverse courses. They emphasize a shift from a grade-centered to an experiential learning-focused approach, echoing calls for educational refor
Ethnomathematical Aspects of Learning Geometry and Values Related to The Motifs Used by The Dayak Ngaju Tribe in Central Kalimantan
Get PDFAbstract
Purpose – Ethnomathematics are used in motifs by the Dayak Ngaju Tribe in Central Kalimantan. The motifs contain some
Ethnomathematical objects and concepts for Geometry and values. Therefore, this study aimed to describe the motifs based on
mathematical objects and concepts of Geometry and value viewed from ethnomathematics aspects.
Methodology – This study used a qualitative approach with an ethnography method. The researchers collected information from
documents and books. They conducted in-depth observations and interviews with the subjects regarding the culture of the Dayak Ngaju people who reside downstream of the Kahayan River in Central Kalimantan. The subjects were a Dayak Ngaju craftsman and a priest of the Hindu Kaharingan community. The motifs consist of tingang, dandang tingang, jata, batang garing, tanduk muang, buntut kakupu gajah, taya tree and rambunan tambun.
Findings – The motifs contain some mathematical objects and concepts. Mathematical objects are created as circles, batang garing and jata motifs, and a six-sided shape in the tanduk muang motif. The concept is the geometric transformations, namely in the mdandang tingang and tanduk muang motifs the reflection in the motifs of tingang, batang garing, tanduk muang and taya tree. The on point (0,0) in the motifs of buntut kakupu gajah and taya tree, and the translation in the motif of jata.
Significance – The study provides some mathematical objects and concepts in the motifs of the Dayak Ngaju tribe in Central Kalimantan. Students learning those objects and concepts should be related to their culture, namely the motifs, and they should acquire the values in such learning. Ethnomathematics plays an important role among Dayak Ngaju people in understanding mathematics concepts such as Geometry and values
Analysing The Role of Driver Behaviors in Road Traffic Accidents: An Application of Machine Learning
Get PDFContinuous innovations are taking place worldwide to develop solutions for problems encountered by human beings. The prevention of a variety of accidents due to burning, drowning, terrorism, electric shocks, and road traffic is among the important concerns of researchers and solution developers. Specifically, this current study aims to analyse the contributions of different driver behaviours that resulted in road accidents, followed by proposing a viable solution and reducing the road accident frequencies to benefit society at large. This study employed two methods to analyse data. One was through SEM, and the second was through Artificial Neural Network (ANN). The study is descriptive in nature and it used the survey method to collect sample data from 345 drivers from various professional backgrounds. The questionnaire consisted of independent variables, namely slips, errors, mistakes, lapse violations and unintentional violations. To measure the contributions of these variables towards accidents, age was taken as the moderator. The statistical techniques used included reliability, correlation, and normality analyses, in addition to artificial neural networks and regression analyses. Each factor was found to be a significant contributor to road accidents. Moreover, no significant difference was found in drivers’ behaviour between males and females, but age was found to have a moderating effect on the relationship between driver behaviours and accidents. Additionally, the rate of accidents decreases with the increases in age and vice versa