It is crucial to establish sustainable livelihoods and distribute wealth in order to ensure inclusion across rural and urban regions as well as between various ethnic groups. Microfinance, as one of the social finance instruments, could help the underprivileged gain access to capital. Islamic microfinance, unlike conventional microfinance, avoids riba and is based on Shariah principles. The government of Malaysia categorises families according to their income, and it utilises this data to create policies targeted at bridging the income gap between the B40 and higher income groups as well as between rural and urban populations. In ensuring that all citizens, particularly B20 communities, have access to Islamic finance, the development of Islamic microfinance products based on profit and loss sharing is critical. Debt-based, interest-free loans and equity-based Islamic microfinance are available. The majority of debt-based instruments are based on tawarruq or commodities murabahah, with qardhul hasan being utilised for interest-free loans. However, equity-based instruments such as musyarakah and mudharabah are not used by any microfinance institutions. Specifically, musharakah mutanaqisah model is seen as a potential product that can be applied in Islamic microfinance. This paper proposes that Islamic microfinance through musharakah mutanaqisah as a viable mechanism for creating sustainable livelihood opportunities, especially for the lower B20 communities.

The objective of this paper is to determine the effective dimensions of intellectual capital. For fulfilling this objective, the study examined 88 empirical research on the intellectual capital of the past two decades (1998- 2018) in the field of intellectual capital, its dimensions and practices in different sectors of different countries. Peer-reviewed literature and journals were the key sources of data and information about the dimensions of intellectual capital. Out of 88 research papers, 75 research articles pointed to human capital, 57 research articles indicated structural capital, and 47 research articles mentioned relational capital are the most popular and important dimensions of intellectual capital. The study found that human capital is essential to establish structural capital and structural capital is required to build relational capital with the external environment. The results of this study contribute to the current understanding of determining effective dimensions of intellectual capital by analyzing 88 empirical research papers.

The pandemic Covid-19 has risen the standards for hospitals and indirectly influenced the ‘wisdom’ in management and operational functions of the hospitals. Literature have shown that there is lacking in the implementation Islamic hospital culture in the healthcare services in Malaysia. The purpose of this article is to present a suggested framework to transform waqf-based hospitals with an Islamic hospital culture through the adaptation of theories of organizational culture embedded with Islamic perspectives and observations of Shari’ah compliant hospitals from the past and present. The methodology used is content analysis from qualitative research methodology. Data analysis will involve manual coding, thematic analysis, and pattern-matching. The general findings show that the Islamic organizational culture will be more than providing space in the hospitals for Muslims to perform the daily five times worship but will include holistic Islamic management of the hospital organization, Islamic architecture wherein they are purpose-built, with underlaying service-oriented patient-centered culture plus distinctive dressing, decorum, halal medicines and other facilities presented. Through the transformation it will promote improved healthcare with Shari’ah compliant services and endorse healthcare tourism with Muslim-friendly facilities in hospitals for Muslims, local and abroad. With this newly developed culture in waqf-based hospitals, it can be an inauguration to a future of many more interesting adaptations of Islamic organizational culture in other public services and private organizations.

This research paper aims to highlight the criteria of the administrative management of waqf-based hospitals during the Islamic Golden Era of 8th - 14th CE from Islamic history and explore the criteria of the hospitals implemented during the aforesaid medieval period. These hospitals have managed to incorporate and integrate waqf with the public goods such as to provide good healthcare services to the Muslim Ummah in their era. This study however, have not found in-depth investigation of past waqf hospitals and documentations to show how their significance, standards and criteria which have managed to successfully evolve and integrate the Islamic culture with the changing of civilization through time. This study examines the macro-level theory pertaining to past waqf-based hospitals in the 8th -14th CE, and applies the grounded theory approach, analysis from the historical-comparative (H-C) and triangulation (Neuman 2014) from a qualitative perspective. In determining the themes and detecting important critical terms crucial for this study, open coding was performed on the data collected using the application NVivo 12. The general finding shows that the exclusive elements of the guiding principles of Nour, architectural and urbanism features, decentralization, al-Mizan, governance of the Mutawalli and the financial sustainability found, exist in tandem as fundamental elements for the criteria of past waqf-based hospitals whilst defining each other in their own representations. This study suggests that, the application of the medieval/classical epistemology should be a basis for a current and future developments especially in the application of waqf with a public service organization, healthcare services in particular.

There are many different types of social-based healthcare in Malaysia providing free healthcare to the poor while offering discounted fee to regular patients. The social-based healthcare includes non-profit organizations, the social enterprises, waqf-based hospital, and private hospital’s Corporate Social Responsibility. This study aims to clarify their indistinctive status of the different types of social-based healthcare in Malaysia, disclosing their similarities, differences and to determine the extent of which these healthcare institutions provide the many forms of ‘free healthcare services’ to the public. The research methodology used is critical content analysis and coding, manual and with NVivo 12. Initial findings revealed a new diagram for health providers in Malaysia, their challenges of social-based healthcare services in their mission and financial sustainability. This study will add value in the area of social innovation by investigating the importance of different concepts and values in social-based healthcare missions and their methods in maintaining financial sustainability.