Integrating environmental, social and governance (ESG) principles with Maqasid al-Shariah: a blueprint for sustainable takaful operations

International Journal of Islamic and Middle Eastern Finance and Management, Год журнала: 2024, Номер 17(3), С. 461 - 484

Опубликована: Май 17, 2024

Purpose This conceptual paper aims to delineate a comprehensive blueprint for the integration of environmental, social and governance (ESG) principles within framework Takaful operations, guided by Maqasid al-Shariah. The primary purpose is establish robust foundation sustainable transformation Takaful, aligning it with ethical finance Islamic values. Design/methodology/approach Using theoretical research approach, this study delves into multifaceted dimensions ESG al-Shariah context operations. 17 SDGs/ESG are integrated give thorough comprehending disclosure index from western viewpoints. critically analyses current literature, scholarly works authoritative sources, drawing inspiration established approaches. Qualitative content analysis examines compiles pertinent ideas, expert validates index. It identifies key convergence, compatibility divergence points between construct Maqasid-driven in Takaful. Findings presents well-defined revealing substantial areas alignment two frameworks. particularly pronounced protecting life, religion, intellect, lineage wealth. underscores potential harmonising al-Shariah, providing operators roadmap enhancing their credibility, societal impact environmental stewardship. Research limitations/implications outlined opens new avenues at intersection ethics, responsible development signals necessity developing standardised will serve as vital tool transparently communicate commitment practices, facilitating deeper understanding bolstering transparency all stakeholders. Further index’s practical implementation, empirical validation strategic implications encouraged advance industry. Practical proposed provides guide align operations both principles. Embracing governance, welfare sustainability, can enhance product offerings, attract socially conscious stakeholders contribute positively financial objectives. Social Integrating signifies broader well-being. Through initiatives aimed safeguarding wealth, play pivotal role fostering cohesion, empowering communities actively contributing goals. Originality/value contributes field presenting unique integrating novelty approach lies its holistic perspective on finance, values contemporary global imperatives. offered here represents an original practices that resonate evolving standards enduring finance.

Язык: Английский

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Streamlining Operations Insights and Innovations From the Gulf Cooperation Council (GCC)

Advances in human resources management and organizational development book series, Год журнала: 2024, Номер unknown, С. 188 - 216

Опубликована: Июль 12, 2024

The chapter examines the challenges, innovations, and best practices that shape operational strategies of this thriving economic bloc. It combines theoretical concepts with real-world case studies to provide valuable insights educators learners into complexities management in GCC. carefully curated offer an in-depth understanding hurdles faced by GCC organizations innovative solutions implemented overcome them. also highlights significant trends, future opportunities, strategic implications for operations theory practice context. By focusing on management, aims bridge knowledge practical application, enhancing students' analytical skills problem-solving capabilities essential business domain. Ultimately, serves as a resource academic communities, practitioners, policymakers seeking navigate optimize their ever-evolving market.

Язык: Английский

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Capitalism in modern ignorance (jahilliyah): exploring Islamic alternatives to reshape human behaviour and provide solutions for the 21st century

International Journal of Islamic and Middle Eastern Finance and Management, Год журнала: 2025, Номер unknown

Опубликована: Фев. 13, 2025

Purpose This study aims to analyse the research themes in Islamic finance, assess extent which Sustainable Development Goals (SDGs) can be achieved through implementing financial principles and explore potential for reshaping human behaviour under an framework. The establish a paradigm that evaluates role of finance fostering social justice, environmental sustainability ethical governance as sustainable alternative capitalist system. Design/methodology/approach employs comprehensive literature review thematic analysis alignment with SDGs. Secondary data from peer-reviewed academic articles (2016–2024) were collected analysed using inductive approach. Key include maqasid ash-shariah development. A conceptual framework is proposed depict how practices contribute Findings identifies rooted Shariah principles, offers robust foundation sustainability. By integrating zakat, donations, private investments socially responsible investments, model aligns SDGs, addressing poverty (SDG 1), reducing inequality 10) promoting economic growth 8). findings underscore address capitalism’s shortcomings, such income unsustainable practices, while advocating shift adherence values. Practical implications Policymakers institutions leverage insights this design implement models promote equitable resource allocation, development practices. practical guide into conventional systems achieve Originality/value contributes existing by presenting novel integrates goals. It unique perspective on transitioning capitalism model, emphasizing behavioural ideological changes outcomes.

Язык: Английский

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Rethinking financial deepening in Islamic countries: political system and economic growth

International Journal of Islamic and Middle Eastern Finance and Management, Год журнала: 2025, Номер unknown

Опубликована: Янв. 13, 2025

Purpose This study aims to determine the effect of financial deepening on economic growth. It also investigates role two political systems (i.e. democracy and monarchy) in supporting between factors. Design/methodology/approach paper adopts a dynamic panel regression model, i.e. generalized method moments answer hypotheses. uses data from 44 Islamic countries that are members Organization Cooperation (OIC) for period 2010 2019. Findings finds has an inverted U-shaped means will only be effective at certain threshold, if exceeded, it weakens negative is due several reasons, such as high inflation, money supply, unproductive credit allocation government policies. Furthermore, system facilitates finding becomes more valid free endogeneity using two-stage least square tests. Research limitations/implications The proxies used growth require refinement improve their relevance applicability. unavailability easily accessible index, this forced use dummy variables. Practical implications primary outcome research advocate establishment governance within each member country OIC countries. Originality/value addresses need understanding how effectiveness enhances deepening, thereby fostering

Язык: Английский

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Differential impact of adopting Islamic banking: A quasi-experimental approach

Research in International Business and Finance, Год журнала: 2025, Номер unknown, С. 102793 - 102793

Опубликована: Фев. 1, 2025

Язык: Английский

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Navigating the Malaysian dilemma: Constructing a sustainable economy in the post-COVID-19 era

Journal of Infrastructure Policy and Development, Год журнала: 2024, Номер 8(8), С. 5771 - 5771

Опубликована: Авг. 26, 2024

The Malaysian dilemma presents a complex challenge in the wake of COVID-19 pandemic, requiring comprehensive statistical analysis for formulation sustainable economic framework. This study delves into multifaceted aspects reconstructing Malaysia’s economy post-COVID-19, employing data-driven approach to navigate intricacies nation’s landscape. research focuses on key indicators, including GDP growth, unemployment rates, and inflation, assess immediate long-term impacts pandemic. Additionally, it examines effectiveness government interventions stimulus packages mitigating downturns fostering recovery. A comparative with pre-pandemic data provides valuable insights extent resilience identifies sectors that require targeted support sustained growth. Furthermore, explores role technology digital transformation building resilient economy, considering accelerated shift towards remote work transactions during incorporates technological adoption infrastructure development, innovation ecosystems gauge their contributions sustainability. Addressing Dilemma also involves an examination social environmental dimensions. investigates impact policies income distribution, equity, sustainability, aiming achieve contributes nuanced guide policymakers stakeholders constructing post-COVID-19 Malaysia.

Язык: Английский

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Will Muslims integrate an Islamic accounting principle (zakat) into the financial paradigm reshaped by cryptocurrencies? Insights into cryptocurrencies holder perspectives

Journal of financial reporting & accounting, Год журнала: 2024, Номер unknown

Опубликована: Дек. 2, 2024

Purpose Muslim engagement with cryptocurrencies (CC) raises fundamental questions rooted in religious faith: How should Muslims integrate Islamic Accounting principles like zakat into this new and rapidly evolving financial paradigm? Thus, it is essential to understand CC holders’ perceptions thoroughly whether they are willing pay using crypto assets. This research aims explore factors influencing intention on CC, emphasizing risk, theory of planned behavior (TPB) constructs Shariah compliance’s moderating role. Design/methodology/approach attempt uses a quantitative approach through cross-sectional design, purposive sampling gather data from holders. An extended (ETPB) model applied comprehensively analyze the key intentions CC. SmartPLS software used generate meaningful findings. Findings The study finds that risk associated exerted negative influence TPB constructs, attitude (ATT), social norms (SN) perceived behavioral control regarding (PBC). However, ATT PBC positively shaped Interestingly, compliance-moderated interactions payment were statistically significant. Originality/value With rise profound transformation underway landscape. As evolution unfolds, becomes increasingly for stakeholders how could fit such paradigm. A pioneering effort was made by exploring fulfill obligations, bridging significant gap literature.

Язык: Английский

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The role of halal value chain, Sharia financial inclusion, and digital economy in socio-economic transformation: a study of Islamic boarding schools in Indonesia

Journal of Islamic marketing, Год журнала: 2024, Номер 16(3), С. 810 - 840

Опубликована: Ноя. 25, 2024

Purpose The purpose of this paper is to analyze the impact halal value chains (HVCs) in Islamic boarding schools (IBSs) for food and fashion industry on socio-economic transformation, focusing changes entrepreneurial attitudes, quality life social inclusion. study also incorporates HVCs as a mediating variable assess indirect influence Sharia financial inclusion economic digitalization transformation. Design/methodology/approach This research uses quantitative approach using primary data collected through surveys. population consists IBSs registered Independence Program Ministry Religious Affairs Republic Indonesia. sample was selected purposive sampling, model tested partial least squares structural equation modeling with WarpPLS 8.0 software. Findings results direct analysis indicate that chain (HVC) has positive significant effect reveals HVC plays strategic role facilitating digital economy adoption findings are further validated multigroup analysis, demonstrating robustness result. Practical implications highlight two key points. First, characteristics IBS-HVCs, enabled by inclusion, will drive continuous development new services, products, networks, collaborations capital support, leading expansion financially inclusive equitable system from broader community, impacts nationally internationally. Second, within enhance productivity efficiency business management, fostering expanded models upward mobility. Originality/value To best authors’ knowledge, first explore Additionally, it explain relationship between A test strengthens study’s contributions.

Язык: Английский

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Integrating Islamic Finance for Sustainable Development in Industry 5.0

Practice, progress, and proficiency in sustainability, Год журнала: 2024, Номер unknown, С. 48 - 66

Опубликована: Июнь 30, 2024

This study aims to investigate the potential synergies between Industry 5.0 and Islamic finance in context of sustainable development. The analysis was conducted through a comprehensive literature review, with emphasis on principles finance. Research findings show that integration has make significant contribution achievement development goals. results this have far-reaching implications. First, it provides more holistic understanding Second, basis for policymakers consider strategies. Third, stimulates further academic discussion ethical role technologically advanced era, hoping shape responsible inclusive business practices.

Язык: Английский

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Islamic finance and SDGs: bibliometric review and future research agenda

Journal of Chinese Economic and Business Studies, Год журнала: 2024, Номер unknown, С. 1 - 34

Опубликована: Дек. 26, 2024

This study provides a bibliometric investigation of the relationship between Islamic finance and Sustainable Development Goals (SDGs), analyzing 457 research articles indexed in Web Science Scopus. Using Bibliometrix package R Biblioshiny interface, offers enhanced data visualization interaction to map intellectual structure this field. We highlight strong alignment principles (Maqasid al-Shariah) SDGs, particularly emphasizing social instruments like Zakat Waqf. In addition, we outline focus on some while others remain underexplored. identifies key themes gaps literature proposes future agenda for enhancing finance's contribution Goals.

Язык: Английский

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