The role of maqasid al-Shariʿah in applying fiqh muamalat into modern Islamic banking in Malaysia

2020 ◽  
Vol 11 (9) ◽  
pp. 2137-2154
Author(s):  
Muhammad Shahrul Ifwat Ishak ◽  
Fathullah Asni
Keyword(s):  
Empirical Studies ◽  
Well Being ◽  
Advisory Council ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Content Type ◽  
Floating Rate ◽  
The Impact ◽  
Banking Operations

Purpose This paper aims to explore the practical role of maqasid al-Shari’ah in applying fiqh muamalat to the reality of modern banking practices. As the modern financial environment is complicated and not too conducive for Islamic banking operations, a special approach based on maqasid al-Shari’ah is needed to harmonize between revelation and reality. Design/methodology/approach The data of this study are obtained through literature and empirical data. As for the empirical, the exploratory qualitative approach is applied in which three members of the Shari’ah Advisory Council (SAC) of Bank Negara Malaysia (BNM) as well as three Shari’ah committees (SC) of Islamic Finance Institutions are selected as interviewees. As a result, several themes are defined from the interview data before they are analyzed based on the concept of maqasid al-Shari’ah. Findings The findings reveal that several practices are prevalent in developing Islamic banking products, including replicating conventional products to be Islamic ones, imposing wa’ad (unilateral promise) to strengthen the combination of different contracts into one product, and adopting floating rate with ibra’ (rebate) for financing price, which are needed to sustain this industry in modern financial system. In this regard, maqasid al-Shari’ah is applied to reconcile between rulings in fiqh muamalat and banking environments, so that these rulings can be adopted pragmatically without compromising Shari’ah principles. Research limitations/implications This study has its limitations, as it focuses on the extent of the role of the maqasid al-Shari’ah in Islamic banking operations, excluding other segments of Islamic finance such as Islamic capital markets and Islamic insurance. Moreover, as data are collected from only six interviewees from SAC and SC of Malaysia, the results cannot be represented for the whole Islamic banking practices of this country. Practical implications This study provides several policy recommendations regarding the practice of the maqasid al-Shari’ah in Islamic banking. These may be useful for all Islamic finance players, including regulators and bankers in introducing policies and products in this area. Social implications This study has the potential to enhance the confidence of the Muslim community, particularly in Islamic banking to support its existence and practices. The impact of such optimism will lead to an increase in demand for Islamic banking products, hence encouraging Islamic banking to sustain and update its activities in line with maqasid al-Shari’ah. Originality/value This paper offers a practical approach as regards to how the maqasid al-Shari’ah can play a significant role in sustaining the Islamic banking industry, particularly in circumstances that are not favorable to its progress. It is indispensable to prevent the Islamic rulings from being diverted in the name of human well-being and to avoid basing them on a literal textual approach. Moreover, as it provides empirical studies on the issue of replication, wa’ad, floating rate and ibra’, the discussion on this subject becomes more practical.

Perceived stress and psychological well-being of working mothers during COVID-19: a mediated moderated roles of teleworking and resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vartika Kapoor ◽  
Jaya Yadav ◽  
Lata Bajpai ◽  
Shalini Srivastava
Keyword(s):  
Perceived Stress ◽  
Working Mothers ◽  
Well Being ◽  
Inverse Association ◽  
Psychological Well Being ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

PurposeThe present study examines the mediating role of teleworking and the moderating role of resilience in explaining the relationship between perceived stress and psychological well-being of working mothers in India. Conservation of resource theory (COR) is taken to support the present study.Design/methodology/approachThe data of 326 respondents has been collected from working mothers in various sectors of Delhi NCR region of India. Confirmatory factor analysis was used for construct validity, and SPSS Macro Process (Hayes) was used for testing the hypotheses.FindingsThe results of the study found an inverse association between perceived stress and psychological well-being. Teleworking acted as a partial mediator and resilience proved to be a significant moderator for teleworking-well-being relationship.Research limitations/implicationsThe study is based at Delhi NCR of India, and future studies may be based on a diverse population within the country to generalize the findings in different cultural and industrial contexts. The present work is based only on the psychological well-being of the working mothers, it can be extended to study the organizational stress for both the genders and other demographic variables.Practical implicationsThe study extends the research on perceived stress and teleworking by empirically testing the association between perceived stress and psychological well-being in the presence of teleworking as a mediating variable. The findings suggest some practical implications for HR managers and OD Practitioners. The organizations must develop a plan to support working mothers by providing flexible working hours and arranging online stress management programs for them.Originality/valueAlthough teleworking is studied previously, there is a scarcity of research examining the impact of teleworking on psychological well-being of working mothers in Asian context. It would help in understanding the process that how teleworking has been stressful for working mothers and also deliberate the role of resilience in the relationship between teleworking and psychological well-being due to perceived stress, as it seems a ray of hope in new normal work situations.

Supporting creative ageing through the arts: the impacts and implementation of a creative arts programme for older people

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Simon Chester Evans ◽  
Jennifer Bray ◽  
Claire Garabedian
Keyword(s):  
Social Interaction ◽  
Older People ◽  
Well Being ◽  
Care Staff ◽  
Successful Implementation ◽  
Creative Arts ◽  
Standard Format ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to report on an independent evaluation of a three-year “Creative Ageing” programme, focussing on the impacts for participants and factors promoting successful delivery of sessions. Design/methodology/approach Artists provided feedback through reflective journals and questionnaires, while the views of care staff and participants were also captured in a standard format at the end of each arts session. Thematic analysis of the qualitative data identified common themes. Findings Twenty-three arts projects were delivered across a range of settings and through diverse art forms including dance, drama, music, visual arts and poetry. They reached nearly 2,200 participants who recorded over 8,100 session attendances in total. Participation in high quality creative experiences improved well-being for older people, as well as increasing social interaction and reducing isolation. Several factors facilitated successful implementation and delivery of the activities, particularly the need to hold planning meetings with staff to provide guidance around participant numbers and suitability, minimising disruption of the sessions and the supportive role of staff during the sessions. Opportunities for reflection enabled artists to address potential challenges and adapt their practice to meet the needs and preferences of participants and to the complexities of diverse settings. Originality/value Previous research has largely focussed on the impact of activities in a single setting. This study supports the role of creative arts in increasing social interaction as an attempt to tackle isolation and loneliness, both for older people living in the community and for those living in a communal setting such as care homes and supported living schemes.

scholarly journals Does sustainable consumption matter? Consumer grocery shopping behaviour andthe pandemic

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ing Grace Phang ◽  
Bamini K.P.D. Balakrishnan ◽  
Hiram Ting
Keyword(s):  
Social Transformation ◽  
Sustainable Consumption ◽  
Well Being ◽  
Grocery Shopping ◽  
Consumer Decision Making ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role

Purpose The COVID-19 pandemic took the world by surprise in early 2020. The preventive measures imposed by many countries limited human movement, causing uncertainty and disrupting consumption patterns and consumer decision-making. This study aims to explore consumers’ panic buying (PB) and compulsive buying (CB) as outcomes of the intolerance of uncertainty (IU). The moderating role of sustainable consumption behaviours (SCBs) (e.g. quality of life [QOL], concern for future generation and concern for environmental well-being) were also tested to raise awareness of responsible and mindful consumption amongst the society and business stakeholders. Design/methodology/approach To empirically examine the grocery shopping behaviours of Malaysian consumers during COVID-19, a total of 286 valid grocery consumer survey responses based on a purposive sampling were collected and analysed during the movement control order period between March and July 2020. Findings The findings confirmed the statistically significant impact of IU on both PB and CB and the impact of PB on CB behaviour. Amongst the three SCBs tested, only QOL significantly moderated the relationship between the IU and PB. Originality/value To the best of the authors’ knowledge, this is the first study to construct a framework of consumers’ PB and CB during the pandemic, building upon the stimulus-organism-response model and the concepts of IU and SCB. This study further serves as the pioneering study on the moderating role of SCB in consumer behaviour research in the pandemic context, whereby consumers’ QOL significantly moderates the relationship between their IU and PB. This study has also drawn specific implications for grocery retailers and government agencies for retail and policy planning to promote positive social transformation in consumer buying behaviours during a pandemic or crisis.

How can leader humor enhance subordinates’ service creativity? The moderator of subordinates’ SFIT and the mediator of role modeling

2020 ◽  
Vol 41 (6) ◽  
pp. 865-882
Author(s):  
Leiqing Peng ◽  
Shaohui Lei ◽  
Yulang Guo ◽  
Fei Qiu
Keyword(s):  
Service Industry ◽  
Empirical Studies ◽  
Organizational Factors ◽  
Role Modeling ◽  
Content Type ◽  
Moderated Mediation Model ◽  
Path Analyses ◽  
The Impact ◽  
The Relationship

PurposeAs an essential personality charm of leaders, humor can bring a series of positive outcomes to both users and receivers. However, there is also evidence that the impact of leaders’ humor (LH) is constrained by individuals, teams and organizational factors. The aim of this research is to investigate the relationship between LH and subordinates’ service creativity. Based on social learning theory and previous literature on LH, this paper identifies role modeling as the mediator and suggests that subordinates’ sensitivity to favorable interpersonal treatment (SFIT) moderates these relationships.Design/methodology/approachIn order to test the proposed moderated mediation model, this study employed hierarchical multiple regression and path analyses with valid data of 348 samples.FindingsResults revealed that LH positively affects role modeling and service creativity of subordinates, while subordinates' SFIT positively moderates the relationship between LH and subordinates' service creativity via role modeling.Practical implicationsIn compliance with these findings, this research suggests that enterprises should pay attention to the role of humor from middle managers and strengthen managers' role modeling through multiple measures to establish a relaxed and harmonious atmosphere in the workplace.Originality/valueBuilt on the conceptual framework, this study contributes to the literature on LH and employees’ service creativity by treating role modeling as the mechanism and SFIT as the moderator. This research is one of the first few empirical studies to investigate the relationship between LH and service creativity of service personnel in the service industry.

Mobile internet and consumer happiness: the role of risk

2018 ◽  
Vol 28 (3) ◽  
pp. 785-803 ◽  
Author(s):  
Ge Zhan ◽  
Zhimin Zhou
Keyword(s):  
Risk Factors ◽  
Online Survey ◽  
Well Being ◽  
Mobile Internet ◽  
Moderating Effects ◽  
Content Type ◽  
Frequency Of Use ◽  
The Impact ◽  
Or Applications

Purpose The purpose of this paper is to investigate the influence of mobile internet (MI) use and risk factors on MI happiness. Design/methodology/approach An online survey with 521 MI users was conducted to test the direct and moderating effects of risk factors on MI happiness. Findings The results provide evidence that there is a non-linear relationship between variety of use and MI happiness, and consumers become happier with increased frequency of use. The results also indicate that the privacy risk and task risk reduce MI happiness, and both types of risks moderate the inverted U-shaped relationship between variety of use and MI happiness. Research limitations/implications This study reconciles two opposing theories, stimulation vs displacement, on the impact of internet use on consumer well-being. The findings suggest that the stimulation effect of MI use is associated with an intermediate level of usage variety, while social displacement is more likely connected with higher- or lower-variety of use. Risk plays an important role in exploring the boundary conditions of both theories. The findings also have important implications to the debate over the role of privacy in consumer adoption of internet services or applications. Originality/value This study reconciles two opposing theories, stimulation vs displacement, on consumer happiness by elaborating the role of risk associated with MI use.

Spiritual quotient towards organizational sustainability: the Islamic perspective

2017 ◽  
Vol 13 (2) ◽  
pp. 163-170 ◽  
Author(s):  
Sohail Akhtar ◽  
Mohd Anuar Arshad ◽  
Arshad Mahmood ◽  
Adeel Ahmed
Keyword(s):  
Design Methodology ◽  
Well Being ◽  
Future Research ◽  
Organizational Sustainability ◽  
Content Type ◽  
Spiritual Awareness ◽  
Islamic Perspective ◽  
Conceptual Paper ◽  
The Impact

Purpose The purpose of this paper is to explore the impact of spiritual quotient (SQ) on the organisational sustainability from the Islamic perspective. Till date, many organisations around the world are facing environmental, social and economic issues affecting their organisational sustainability. Design/methodology/approach The present paper is conceptual paper based on literature review on employee’s behavioural issues and role of SQ for organisational sustainability. Findings This present paper argues that SQ must be considered as the important factor for employee development in the organisation. It develops spiritual awareness among employees which enhances their productivity within the organisation. Furthermore, SQ is necessary means of identifying and harnessing deeper inner resources with the capacity to care for the well-being of the organisation and advance its development. Research limitations/implications The paper suggests SQ and its multi-dimensions with the implication for future research in organisational sustainability. Originality/value The paper discusses the development of the concept of SQ from the Islamic perspective.

scholarly journals Analyzing the Role of Islamic Finance in Kuwait Regarding Sustainable Economic Development in COVID-19 Era

2022 ◽  
Vol 14 (2) ◽  
pp. 701
Author(s):  
Salah Alhammadi
Keyword(s):  
Economic Development ◽  
Best Practices ◽  
Management Strategies ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Banking And Finance ◽  
Sustainable Economic Development ◽  
Grounded Theory Method ◽  
The Impact

The aim of the present study was first to consider the impact of COVID-19 on Kuwait’s economy. Second, it attempted to examine the role of Islamic banking and finance in achieving socioeconomic justice and attaining best practices by securing social goods. Hence, the research assessed how Islamic banking and finance can help in reconstructing the economy based on Maqasid Al-Shari’ah (higher ethical objectives) to redevelop social, economic, and environmental welfare, especially in the COVID-19 era. A theoretical approach was adopted, namely, the grounded theory method (GTM), to explore COVID-19 related solutions for achieving sustainable economic development. The findings show that Islamic banking and finance can be employed to mitigate the impact of coronavirus and can be used as an alternative financial system to support both affected people and entrepreneurs. The paper expands on previous literature discussing the role of Islamic finance in management strategies through Islamic ethical objectives, with a particular focus on Kuwait’s post-COVID-19 era. This research can help policymakers to develop mechanisms and supporting approaches for Kuwait’s economy.

Workplace spirituality, psychological well-being and mediating role of subjective stress

2019 ◽  
Vol 35 (4) ◽  
pp. 725-739
Author(s):  
Manju Mahipalan ◽  
Sheena S.
Keyword(s):  
Structural Equation ◽  
Secondary School Teachers ◽  
Workplace Spirituality ◽  
Well Being ◽  
Psychological Well Being ◽  
Subjective Stress ◽  
Content Type ◽  
Mediating Role ◽  
The Impact

Purpose The purpose of this study is to assess the impact of spirituality on subjective stress and psychological well-being (PWB). Additionally, the study also examines the mediating role of stress in the spirituality – well-being relationship. Design/methodology/approach The study is quantitative in nature. Data were collected from 322 secondary school teachers using a structured questionnaire. Partial least squares based structural equation modelling was used to analyse the data. Findings Results indicated a positive relationship between spirituality and PWB but an inverse relationship between job stresses. Also, subjective stress was found to be a significant mediator in the relationship between spirituality and well-being. Social implications The inner resource of spirituality among teachers can be tapped to cope with perceived stress levels thereby augmenting a sense of well-being. Psychologically clear and receptive minds are indispensable in the process of teaching. Originality/value The present study combines the evolving construct of workplace spirituality with PWB and subjective stress, which are under explored in the social sector.

How ethical leadership stimulates academics’ retention in universities

2018 ◽  
Vol 32 (7) ◽  
pp. 1348-1362 ◽  
Author(s):  
Saima Ahmad ◽  
Syed Muhammad Fazal-E-Hasan ◽  
Ahmad Kaleem
Keyword(s):  
Ethical Leadership ◽  
Academic Staff ◽  
Intention To Leave ◽  
Well Being ◽  
Content Type ◽  
Intentions To Leave ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the relationship between ethical leadership and academics’ retention in universities. It draws on the conservation of resources theory to deepen the understanding of a process underlying this relationship whereby academics are more likely to stay in universities through the practice of ethical leadership. Specifically, it advances academics’ job-related affective well-being as a potential mediating mechanism, fostered by ethical leadership, which lowers their intention to leave. Design/methodology/approach This study is conducted through a cross-sectional survey of 303 academics in Australian universities. Univariate, bivariate and multivariate analysis procedures are deployed to analyse academics’ data. The research hypotheses are tested through a bootstrapped regression analysis of academics’ perceived ethical leadership, affective well-being and intention to leave. Findings The findings lend support to the hypothesised relations, indicating a significant role of ethical leadership on enhanced intentions of academics to stay in universities by directly conserving their job-related affective well-being. Research limitations/implications This paper contributes to knowledge of the relationship between ethical leadership and academics’ retention by identifying job-related affective well-being as an underlying mechanism in the university sector. Practical implications This paper has practical implications for higher educational institutes seeking to retain their academic staff. Its findings show that the practice of ethical leadership in universities matters, because it lowers academics’ intentions to leave by nurturing their well-being at work. Originality/value This is the first study to examine the impact of ethical leadership on academics’ well-being and intentions to leave in the context of universities in Australia. It is one of the first studies to explore the mediating role of affective well-being in the ethical leadership and leadership and intention to leave relationship.

The role of loyalty programs in healthcare service ecosystems

2017 ◽  
Vol 29 (6) ◽  
pp. 899-919 ◽  
Author(s):  
Vusal Gambarov ◽  
Debora Sarno ◽  
Xhimi Hysa ◽  
Mario Calabrese ◽  
Alberto Bilotta
Keyword(s):  
Service Quality ◽  
Healthcare Service ◽  
Empirical Studies ◽  
Relevant Literature ◽  
Well Being ◽  
Loyalty Programs ◽  
Content Type ◽  
Service Ecosystems ◽  
Service Ecosystem

Purpose The purpose of this paper is to investigate the role of patient loyalty programs in healthcare environment, generally considered as a way to engage patients and potentially increase the perception of service quality of healthcare systems, but not systematically analyzed at the state of the art. Design/methodology/approach The Service Dominant logic and, in particular, the service ecosystem construct are adopted and integrated with relevant literature references and empirical studies on a sample of patients. Loyalty programs are interpreted as institutions coordinating actors of the healthcare service ecosystem. Findings A conceptual model linking loyalty programs to patients and healthcare providers’ co-creation practices, engagement, satisfaction, trust, and perception of service quality is build and explained based on literature and a case study, finding that loyalty programs can strengthen the adaptability and the well-being of a healthcare service ecosystem. Practical implications This contribution can have a significant impact on the design of new and the evolution of current healthcare service ecosystem, providing interesting insights to practitioners on the topic of loyalty programs, both for their development and their benefits. Originality/value The paper revised previous healthcare service ecosystems and highlights the role of the loyalty program institution at each level and between levels of the ecosystem.

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