scholarly journals Potential application of Istisna’ financing in Malaysia

2019 ◽  
Vol 11 (2) ◽  
pp. 211-226 ◽  
Author(s):  
Anisza Hasmawati ◽  
Azhar Mohamad
Keyword(s):  
Potential Application ◽  
Default Risk ◽  
Legal Issues ◽  
Primary Data ◽  
Islamic Finance ◽  
Regulatory Body ◽  
Structured Interviews ◽  
Unique Type ◽  
Content Type ◽  
The Real

Purpose This study aims to investigate the potential application of Istisna’ financing in Malaysia. Design/methodology/approach Using primary data from semi-structured interviews with 17 participants, including Islamic financial institutions (IFIs), regulatory body and property development companies, the findings of the study suggest that Istisna’ is perceived as a good contract that has unique features and the potential to be implemented in Malaysia; although, it has only been implemented a little by current businesses, mainly due to its perceived high risks. Findings The authors find there is a gap between the theory and the actual operation of IFIs in Malaysia – some salient features of an Islamic contract are actually difficult to execute in reality as there are many factors to be considered, such as default risk in Istisna’, legal issues and accounting treatment of Istisna’ contract. This study recommends the further development of Istisna’ in Malaysia due to its huge potential in the Islamic financial market there. Practical implications Istisna’ is a unique type of sale contract that is used in the manufacturing sectors where the sale of a commodity is transacted before the commodity exists. In practice, data from the Central Bank of Malaysia show that Istisna’ financing is scarce. Originality/value The study differs from previous research studies on Istisna’ – to the best of the authors’ knowledge, this is the first study to provide evidence the real thoughts of IFIs with regard on Istisna’ specifically and IFIs’ operations in general. Previous studies related to Istisna’ have limited scopes, as they have mainly explored the theoretical nature of the contract, issues of permissibility from the Shariah perspective and its comparability with other IFIs product such as Salam. In this study, from respondents’ views, the authors notice actually there is a gap between theory and the real practice of Islamic finance. An Islamic finance instrument may be an ideal choice to customers but not very popular from IFIs’ sides. In this respect, the authors add to the growing literature of Istisna’ by asking the direct questions to IFIs and the authors get honest responses pertaining to default risk, legal issues and accounting treatment.

Examining financial needs of banking customers for product development in Islamic banking in Indonesia

2019 ◽  
Vol 12 (5) ◽  
pp. 712-726 ◽  
Author(s):  
Aimatul Yumna
Keyword(s):  
Product Development ◽  
Primary Data ◽  
Islamic Banking ◽  
Life Cycle Approach ◽  
Real Economy ◽  
Structured Interviews ◽  
Content Type ◽  
The Real ◽  
Financial Products ◽  
Qualitative Approaches

Purpose This study aims at product development in Syariah banking, using the theory of Pyramid of Maslahah. Product development are important aspects of Islamic banking to realize Maqasid Al Shariah and to better serve the real economy. Design/methodology/approach To understand the needs of the customers, this study uses qualitative approaches and collects primary data from semi-structured interviews of 25 banking customers in Indonesia. Findings The study found that the group of respondents who have similar characteristics in age, marital status and number of kids tend to have similar financial needs. Some of the needs that have not been fulfilled by Sharia banking are the needs for investment in banking products, the needs for pension plan products and the needs for travelling-related financial products. Practical implications This study proposed that Islamic banking should provide financial products that cater to three needs of the society, including the needs for necessities/essentials (daruriyat), the needs of complementary requirements (hajiyyat) and the needs for beautifications or embellishments (tahsiniyat), to be able to better serve the real economy. Originality/value Financial needs and the life cycle approach can be used for product development in banking industry. However, this approach has not been widely used for consideration in the development of Sharia banking products in Indonesia. This study provides some novelty in Islamic banking customer behavior, especially in understanding financial needs based on the theory of Pyramid of Maslahah.

Framing the role of higher education in sustainable development: a case study analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Suzanna Elmassah ◽  
Marwa Biltagy ◽  
Doaa Gamal
Keyword(s):  
Higher Education ◽  
Sustainable Development ◽  
Educational Leaders ◽  
Primary Data ◽  
Study Analysis ◽  
Structured Interviews ◽  
Content Type ◽  
Case Study Analysis

Purpose Higher education institutions (HEIs) should play a fundamental role in achieving the international 2030 sustainable development (SD) agenda. Quality education is the fourth of the sustainable development goals (SDGs), and one of the targets related to this is to ensure that by 2030 all learners acquire the knowledge and skills needed to promote SD. Therefore, the SDGs provide a motive for HEIs to integrate SD concepts into their day-to-day practices. This study aims to introduce a framework for HEIs’ sustainable development assessment. Such a framework guides HEIs and educational leaders to support their countries’ commitments to achieving the SDGs. Design/methodology/approach This paper presents the results of a case study analysis of the role and successful techniques of HEIs in achieving SD in three countries, namely, Germany, Japan and Egypt. Primary data was collected by semi-structured interviews with three Cairo University officials, while secondary data was collected by reviewing the universities' official websites, reports, publications and related papers. This study introduces a novel framework for HEIs' SD analysis and assessment, which guides HEIs and educational leaders to support SD to fulfill their countries' commitments to achieving the SDGs. This framework is based on the following five categories: strategic direction and institutional working practices, supporting students, supporting university staff competencies, supporting society's stakeholders and networking and sustainable campus. Consideration is given to the potential role of HEIs to support SD in each of these areas. Findings Cairo University could learn from the novel and pioneer practices of the Leuphana University of Lüneburg, and the University of Tokyo to fill in the gaps it has in different roles. It can also put more effort into adopting the suggested higher education programs of Egypt's Vision 2030. Research limitations/implications This paper is limited to a case analysis comparing three countries, Germany, Japan and Egypt. Second, this study has not considered school education, which is equally essential in countries' SD. Practical implications HEIs can use the framework and the findings in this paper to evaluate their current roles in supporting SD, identify the gaps and take actions accordingly to address their weaknesses. Originality/value The paper compares three universities, one in each of the case study countries. It draws conclusions that identify ways in which the paper's framework and findings can guide SD practice in HEIs internationally, especially those in the developing world.

scholarly journals Assessing the quality of collaboration towards the achievement of Sustainable Energy Innovation in PFI school projects

2015 ◽  
Vol 8 (3) ◽  
pp. 408-440 ◽  
Author(s):  
Sulafa M. Badi ◽  
Stephen D Pryke
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Sustainable Energy ◽  
Primary Data ◽  
Future Research ◽  
Limited Attention ◽  
Structured Interviews ◽  
Content Type ◽  
Energy Innovation

Purpose – The purpose of this paper is to examine the quality of collaboration towards Sustainable Energy Innovation (SEI) in Private Finance Initiative (PFI) projects. While the capacity of PFI to encourage collaboration towards innovation is largely advocated by its proponents; however, it remains to be supported by empirical evidence. Design/methodology/approach – Adopting the Complex Product System (CoPS) innovation management model, the authors assess the quality of collaboration at the interface between the innovation superstructure of public sector clients and users, and the innovation infrastructure of private sector designers, contractors and operators. Two interactional elements are examined upon which the quality of collaboration is assessed: openness of communication and alignment of objectives. The authors apply the model to four new-built PFI school projects within the context of the UK government Building Schools for the Future Programme. Semi-structured interviews with total of 50 key stakeholders were used as the primary data collection method. Findings – PFI has introduced a number of problematic issues weakening collaborative efforts towards innovation in the project environment. Particularly, the study underlines the restricting internal contractual relationships within the integrated Project Company and the misalignment of Design-Construction-Operation sustainability objectives. It also highlights ineffective communication with public sector clients and users brought in by the restricted nature of PFI engagement processes as well as the misalignment of public sector-private sector sustainability objectives. Research limitations/implications – The qualitative nature of the chosen research methodology limits the ability to generalise. The research findings need to be confirmed or rejected by means of quantitative research as representative of all PFI projects. Practical implications – The study emphasizes the public authority’s role in relation to providing the necessary conditions for the creation of a collaborative environment conducive to SEI in PFI projects. Originality/value – The study was able to expand the understanding of innovation and collaboration management processes in PFI projects in three respects: First, addressing the limited attention to innovation in PFI research, the study is the first to examine the quality of collaboration in PFI projects towards the implementation SEI. Second, examining the quality of collaboration in PFI projects through the lens of CoPS provides a new understanding of sustainability innovation and strongly indicates that the CoPS model should be expanded to account for the dynamics of innovation processes in the procurement of sustainable CoPS. Third, the explorative nature of the study was useful in generating research hypotheses that can form the basis for future research on SEI in PFI projects.

scholarly journals Embodying circularity through usable relocatable modular buildings

Facilities ◽  
2019 ◽  
Vol 37 (1/2) ◽  
pp. 75-90 ◽  
Author(s):  
Riikka Kyrö ◽  
Tuuli Jylhä ◽  
Antti Peltokorpi
Keyword(s):  
Health Care ◽  
Circular Economy ◽  
Care Home ◽  
Primary Data ◽  
Structured Interviews ◽  
Support Functions ◽  
Health Care Centre ◽  
Content Type ◽  
Different Types ◽  
Modular Buildings

PurposeGlobal megatrends such as urbanization and ageing of the population result in fast-paced demographic changes, which pose different types of challenges for different regions. While many rural municipalities bear the burden of under-used buildings, cities are in a hurry to develop new ones to meet new space demands. The purpose of this paper is to assess the potential of relocatable modular buildings to address these challenges, following the principles of circular economy, while at the same time offering usability.Design/methodology/approachThis multiple case study explores existing relocatable modular health-care buildings in Finland. The case buildings host hospital support functions, imaging services, a health-care centre and a care home. The primary data comprise 21 semi-structured interviews and observation during factory and site visits.FindingsBased on the findings, relocatable modular buildings have many benefits and provide a viable option for cities and municipalities struggling to meet their fluctuating space demands. Some challenges were also identified, mainly derived from the dimensional restrictions of the modules.Originality/valueThis research contributes to the emerging body of knowledge on circular economy in the built environment. More specifically, the research provides a very concrete example of circularity and details a framework for usable and relocatable modular buildings. In conclusion, relocatable modular buildings could solve the challenges posed by quickly changing demographics in different types of regions and deliver both usability and circularity.

Constrained purchase decision-making process at the base of the pyramid

2019 ◽  
Vol 36 (1) ◽  
pp. 178-188 ◽  
Author(s):  
Nanda Choudhury ◽  
Srabanti Mukherjee ◽  
Biplab Datta
Keyword(s):  
Decision Making ◽  
Transaction Cost ◽  
Primary Data ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Base Of The Pyramid ◽  
Structured Interviews ◽  
Consumer Decision ◽  
Content Type ◽  
Consumer Vulnerability

Purpose The purpose of this paper is to examine the factors affecting decision-making at the BoP and propose a framework of the consumer decision-making process at the base of the pyramid (BoP). Design/methodology/approach The qualitative research design was adopted to collect primary data. Data collected through the in-depth semi-structured interviews of the 48 BoP consumers in Kolkata and Kharagpur (India) were subjected to grounded theory analysis for theory development. Findings This study reveals that consumer vulnerability affects the decision-making process and the transaction cost at BoP level. It was observed that the consumers at the BoP make constrained choices due to their vulnerability and try to minimise transaction cost while selecting the retails. The constrained retail choice leads to a limited selection of products and brands. Originality/value This study, for the first time, has investigated the decision-making process for BoP consumers in detail. As a pioneering attempt, it sheds light on some new factors including consumer vulnerability and transaction cost that have an impact on the consumer decision-making process.

Kinh and ethnic tourism stakeholder participation and collaboration in tourism planning in Sapa, Vietnam

2020 ◽  
Vol 14 (4) ◽  
pp. 579-597
Author(s):  
Huy Van Nguyen ◽  
Lee Diane ◽  
David Newsome
Keyword(s):  
Ethnic Groups ◽  
Qualitative Content Analysis ◽  
Stakeholder Participation ◽  
Primary Data ◽  
Future Research ◽  
Structured Interviews ◽  
Tourism Planning ◽  
Content Type ◽  
Quantitative Research Methods ◽  
Practical Implications

Purpose This paper aims to explore the Kinh and ethnic stakeholders’ participation and collaboration in tourism planning in Sapa, Vietnam. Design/methodology/approach The primary data collection involved semi-structured interviews with 33 key tourism stakeholders, and data were analyzed using qualitative content analysis. Findings The findings reveal that in terms of participation and collaboration in tourism planning, there is little difference between the Kinh and ethnic groups. Tourism planning is viewed as a top-down approach, and both groups at the community level have very limited participation in tourism planning activities. However, at the on-site management level, there are opposing views between high (Kinh) and low (ethnic) management levels about participation in tourism planning. Both groups recognize the need for interdependence regarding collaboration in tourism planning. They also share similar aspects in regard to facilitating and hindering their participation in tourism planning. Research limitations/implications The limitations of this study include the use of a qualitative method, which limited the number of respondents. Future research could benefit from the application of quantitative research methods to include a greater number of local tourism stakeholders. Practical implications This study contributes to a better understanding of tourism planning in the Vietnamese context and has some practical implications for destination management and policymaking. Originality/value This is the first study to investigate the perspectives of Kinh and ethnic groups in term of participation and collaboration in tourism planning in the Vietnamese context.

A qualitative study of students' perspective on e-learning adoption in India

2020 ◽  
Vol 12 (4) ◽  
pp. 545-559 ◽  
Author(s):  
Nidhi Phutela ◽  
Sunita Dwivedi
Keyword(s):  
Further Education ◽  
Information And Communications Technology ◽  
Primary Data ◽  
Educational Institutions ◽  
Structured Interviews ◽  
Content Type ◽  
Education Industry ◽  
Wide Range ◽  
E Learning ◽  
The Impact

PurposeThis paper will try to uncover how e-learning is giving a new shape to the education industry. Also, it will encompass the students' perspective and experience of e-learning.Design/methodology/approachThe present study employed interpretative phenomenological analysis (IPA) to intensely scrutinize the lived-in experiences of the participants. In the present study, the respondents were selected from Delhi NCR of India. Semi-structured interviews were conducted to collect the primary data to understand the student's perspectives on the impact of information and communications technology (ICT) in education industry.FindingsThe findings have been grouped under two sections referred to as “themes,” which include “drivers for e-learning adoption” and “inhibitors which restrict the adoption of e-learning.”Practical implicationsAt present, India does not have a big market for e-learning, but there is huge potential in the country. The present study may be helpful for the educational institutions in India and in similar developing countries in understanding the students' perspectives on e-learning adoption. The educational institutions may improve their systems accordingly so that they can not only retain the students of their own countries but also attract students from other countries for further education.Social implicationsE-learning can be employed to give users quick access to ideas and experiences from a wide range of people, communities, and the cultures to increase the tangibility.Originality/valueThe study will be useful to the policymakers in the higher education sector of developing nations like India, in understanding the students' mindsets. This study makes a contribution to the growing literature on e-learning, where the researchers have determined the relative importance of various motivating and inhibiting factors which influence the adoption of e-learning. Additionally, the study has used IPA as the methodology to determine the factors, which is a novel contribution.

scholarly journals Explaining the demise of the intellectual capital statement in Denmark

2017 ◽  
Vol 30 (1) ◽  
pp. 38-64 ◽  
Author(s):  
Christian Nielsen ◽  
Robin Roslender ◽  
Stefan Schaper
Keyword(s):  
Intellectual Capital ◽  
Design Methodology ◽  
Primary Data ◽  
Original Sample ◽  
Positive Experience ◽  
Research Protocol ◽  
Structured Interviews ◽  
Present Sample ◽  
Content Type ◽  
Secondary Information

Purpose The purpose of this paper is to provide an overview of the Danish Guideline Project (DGP) and its subsequent fate within participating companies since its conclusion in late 2002. Particular focus is placed on the traction that the intellectual capital statement (ICS) approach to reporting, as the principal outcome of the project, was able to acquire in practice. Design/methodology/approach Following the reconstruction of the original sample of 102 companies that originally participated in the project, a survey using semi-structured interviews was pursued among 64 individuals who were identified as having some involvement with the guideline project and/or producing ICSs in these companies. In addition to the interviews, a range of secondary information has been used to supplement the primary data and research protocol. Findings The project was found to have enjoyed only modest success and thereby failed to achieve any substantial traction among the participating companies and related public stakeholders. On balance, however, respondents believed that the exercise had been a positive experience, with benefits for the internal management of the companies, as well as for human capital (employees). The obstacles that radical initiatives such as the ICS continue to face should not be underestimated. Research limitations/implications A single study of a specific initiative necessarily entails many limitations. It is conceivable that the views of some of the participants in the guideline project who are absent from the present sample may provide details of a different experience, although it is unlikely that these would seriously challenge the findings reported here. Originality/value This study is the first to explore the fate of the critically acclaimed ICS approach among companies participating in the DGP.

Architects and rural post-disaster housing: lessons from South India

2015 ◽  
Vol 6 (2) ◽  
pp. 206-224 ◽  
Author(s):  
Gertrud Tauber
Keyword(s):  
South India ◽  
Social Dynamics ◽  
Participant Observation ◽  
Indian Ocean Tsunami ◽  
Primary Data ◽  
Structured Interviews ◽  
Content Type ◽  
The Right ◽  
The Impact ◽  
Post Disaster

Purpose – This research aims to examine three housing projects implemented by local non-governmental organizations (NGOs) and planned by local architects after the Indian Ocean tsunami of 2004 in rural South India. The key to the acceptance of post-disaster houses lies in meeting the peoples’ wishes and needs, and in integrating local know-how into the course of the project process (a premise intensively discussed in theory). After the tsunami of 2004, many (NGOs) appointed architects, assuming that these professionals would be qualified to facilitate the implementation of people-oriented houses (and villages). However, the architects’ roles vary significantly, which had, as will be shown here, a considerable impact on the degree of success of the project. Design/methodology/approach – Primary data for this study were gathered through household questionnaires (110); informal interaction; participant-observation (work assignment: 2.5 years; field survey: 4 months); semi-structured interviews (NGO representatives, architects and engineers). Secondary literature was studied on post-disaster housing, building cultures and cultures of knowledge. Findings – This study reveals that, in the course of rural post-disaster reconstruction, there is a crying need to appoint the “right” personnel having, first of all, the capacity to comply with the social dynamics at project level, and, second, being able to address those aspects critical for the realization of people-oriented housing. Architects can be a valuable resource for both the NGO and the villagers. However, this paper shows that key to this is, among other considerations, a thorough understanding of the rural (building) culture, its abilities and requirements, the strategic interplay of various roles and abilities during the course of an intricate building process and the design of appropriate roles for adequately-skilled architects. Originality/value – To this date, the debate on the role of architects in the context of post-disaster housing has neglected to examine empirically the implications of appointing these professionals in rural post-disaster contexts. This paper addresses this imbalance and complements the existing corpus of work by examining the impact of different roles of architects on the degree of success of the project at village level.

scholarly journals A qualitative inquiry into cashwaqfmodel as a source of financing for micro enterprises

2018 ◽  
Vol 10 (1) ◽  
pp. 19-35 ◽  
Author(s):  
Mohamed Asmy Bin Mohd Thas Thaker
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Public Awareness ◽  
Qualitative Inquiry ◽  
Primary Data ◽  
Key Factors ◽  
Structured Interviews ◽  
Content Type ◽  
Enterprise Investment ◽  
Micro Enterprises

PurposeThis paper aims to explore the opinions and recommendations of various experts on the integrated cashwaqfmicro enterprise investment (ICWME-I) model, particularly in terms of its suitability, applicability and prospects in the market.Design/methodology/approachThe research involves primary data which are collected from semi-structured interviews conducted with experts from various backgrounds. Thematic analysis was used to examine the data.FindingsThe experts support the suitability of the ICWME-I model in providing financial services to micro enterprises. They highlight the importance of establishing, managing and operating ICWME-I model under the aegis of the State Islamic Religious Council in Malaysia or the corporate sector. They further emphasize that the characteristics of micro enterprises, the element of sustainable funding, the importance of proper management and administration, legal matters and public awareness are key factors that influence the sustainability of the ICWME-I model.Originality/valueThis paper adds to the literature onwaqfand micro enterprises especially from the Malaysian context. The paper validates the ICWME-I model in terms of its suitability, applicability and prospects in the market by interviewing experts from various backgrounds.

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