Cryptocurrency symbolizes of a new development in the financial sector since it is the world's first entirely decentralized digital payment system. The cryptocurrency known as virtual money is one of the most important innovations brought on by digitalization. The purpose of this study is to analyze the relationship between the cryptocurrency (Bitcoin, Monero, and Stellar) with macroeconomics variables known as stock price index (Dow Jones dan Nikkei), oil price (Brent Oil dan WTI), and exchange rates (Australian Dollar, Euro, and Pound Sterling). The data was obtained from investing.com on monthly basis for the period between January 2016 untuil December 2020. The analysis were conducted based on unit root test, co-integration and vector error correction model (VECM) in order to identify the relationship between the three selected cryptocurrencis with macroeconomic variables. The findings of this paper showed that there is cointegration between the variables. The Vector Error Correction Model (VECM) indicates that the Bitcoin model and Stellar model did not have a long-run relationship. While for the second model, Monero found to have a long-run relationship with the variables. This research contributes to the growing study on cryptocurrency while extend and complement the literature by sourcing the latest research paper on this related field.

This paper proposes a conceptual framework to investigate the relationship between board of directors' characteristics (Board of directors' independence, board of directors' size, family members at board of directors, board of directors meetings, CEO duality, and existence of nominations and compensation committee) and firms' performance among industrial companies listed on Amman Stock Exchange. Previous studies focused on the importance of board of directors as a main component of corporate governance rule

This paper aims to examine the relationship between the board of director’s effectiveness and firm performance in Jordanian listed firms. The study used panel data approach over a period of five years from 2009 to 2013, with a sample of 120 non-financial firms listed on Amman Stock Exchange, these firms represents around 56% of Jordanian listed firms. In terms of the effect of board of directors on firm performance, five characteristics of the board of directors are identified: board of directors’ independence, board size, board meetings, leadership structure and board of directors' ownership. The firm performance was assessed by (ROA) as an accounting-based performance measure and Tobin’s Q (TQ) as a market-based indicator. The findings indicate that the independence of board of directors and board of directors' ownership have a positive impact on firm performance. The results also find that the smaller board size enhances the firm performance. Further analysis shows that the findings fail to reveal any significant impact for the frequency of board meetings and leadership structure on firm performance. The study contributes to the literature on board of directors’ effectiveness and firm performance in developing countries especially in Jordan. This study provides useful information that is of great value to policy makers, academics and other stakeholders.

This paper aims to examine the factors of Muslims' intention toward halal financing by considering religiosity as a mediator. The data were collected through a survey of 220 Muslims in Malaysia and were analyzed using the Structural Equation Modelling (SEM) technique. The returned survey was N=211, and the results showed that attitudes and subjective norms positively affect the intention to use halal financing. Religiosity has a mediation effect on the intention to use halal financing. Managers and marketers of Islamic banks may benefit from the findings of this study, which provide insight into the factors that should be considered to promote halal financing. The findings contribute to the literature on halal financing products by demonstrating the drivers of intention to use halal financing. The study also extends the literature by testing the mediating role of religiosity. Furthermore, the study extends the Theory of Reasoned Action (TRA) in the context of halal financing by introducing religiosity as a potential driver of intention and mediator effect.

This paper is proposing a conceptual framework to explore the effect of waqf management performance and religiosity with the mediating effect of trust on the intention on cash waqf contribution, the Theory of Reasoned Action is adopted as a theoretical background for this proposal, as the perception of the contributors will be representing the Attitude, the religiosity will be representing the subjective norm, and the intention to contribute to waqf is representing the intention to behave. Many waqf studies highlighted the importance of cash waqf, but only a few of them highlighted what triggers the contributors to act. Keywords: Waqf, Cash Waqf, Religiosity, Trust, Waqf Contribution

Islamic financing is the methods and types of funding a personal or business uses which consist of sale-based and equity-based, used to carry out unique benefits and capital investments. Islamic financing research is very restricted and needs to be more developed, notably on the demand side or the consumer. This article aimed to explore the impact of Islamic Spiritual Intelligence (ISI) on the behavioural intention of Islamic financing adoption. This study uses a content analysis technique to accomplish this goal. The study is based on reading scholarly papers and related materials and is based on ISI theme theories and the use of Islamic funding. The analysis discovered that ISI has a favourable relationship with consumer behaviour regarding Islamic financing adoption.

Corporate social responsibility (CSR) has had a long and varied history since its beginnings in the early 1930s (Berle and Means, 1932; Carroll, 1999). It has become part of the corporate agenda for business development and survival, and is considered important in explaining business relationships and business management in order to achieve business goals. CSR acts by providing a framework for strategic management and business relationship among various stakeholders. In general, CSR can be divided into four main dimensions: the environmental, the human resource, the philanthropic, and human rights. The study tries to investigate on how the Malaysian Banking Institutions react towards these four dimensions of CSR. For that purpose, this paper employed content analysis of five years periods of annual report of Malaysian Banking Institutions. Its comprises of total 43 banks which include 8 local commercial banks, 19 foreign commercial banks, 10 local Islamic banks and 6 foreign Islamic banks. The study found that, human resource dimension are the most popular CSR activities in Malaysian banking institutions. The environment dimension is among the least CSR activities followed with human resource issues. From the result, we identify on how CSR issues being implemented in Malaysian banking sector. It is very useful for the industry for better improvement on CSR implementation.

This paper aims to explore credit evaluation perspective of dual-banking and full-fledge of Islamic banking approach in Malaysia. This study further used qualitative method of analyzing the data collected from in-depth interviews with them. The study found that credit risk management really has a great role to play because it makes financing decisions less risky, it helps the banks to have a secure system of two-dimension of credit risk management. Besides, the commencement of credit risk management is in the time of stage in before the financing decisions until when it does repayment from customers. During the time of making financing decisions, information needed, most important elements and continuous relationship within customers are both valued differently by the different banks.

The aim of the study is to explore the current practices and important elements in business financing decisions. To achieve this aim of the study, the study conduct in-depth interviews with selected business financing officers as to get their perceptions concerning to the issues, prospects and get some insight new Islamic elements in making business financing decisions. It is found that Islamic elements should be added in financing decisions and these as tools and guidelines for Islamic banks to refer the development of the parameter in commercial financing activities.

This case covers aspects pertaining to the application of the waqf concept on community health benefit specifically with patient that falls under Asnaf category for dialysis treatment under Waqaf An-Nur. It also touches on the implications of mastering certain fundamental concepts in muamalat such as waqf, zakat, debt and personal financial planning and management in Islam. This case covers Islamic financial planning for assets and liabilities management especially among the asnaf and recepient of zakat assistance. This case also relates to the accurate choice and decision making in managing and planning of assets and liabilities of the deceased through the proper mechanisme of faraid as one of the distribution channels after the death of a Muslim in Islam.

The objective of the current study is to examine the effect of corporate social responsibility (CSR) practice on corporate financial performance (CFP). The study tested 164 non-financial firms listed on Amman Stock Exchange (ASE) from 2011 to 2014. CSR activities are measured by corporate social responsibility disclosure index (CSRDI) based on content analysis. Meanwhile, corporate financial performance is measured by accounting-based performance and market-based performance. Generalized Method of Moment (GMM) analysis was used to analyze the effect of CSR disclosure on CFP. Firm size, Leverage, and Ownership are included as control variables. The results of current study indicated that there is positive and significant effect of CSR disclosure on accounting-based performance measured by Return on Assets (ROA). Conversely, there is no significant effect of CSR disclosure on market-based performance measured by market Stock Price (SP), and Price to Earnings Ratio (P/E). For control variables only Leverage has significant effect on financial performance measured by ROA. The Current study has implications in enhancing the understanding of financial performance for the firms through understanding the effect of CSR practices on CFP. Furthermore, the results of current study contribute to the previous studies on CSR practices in developing countries.

Until recently, there has been only muted debate on the stability of RWA and after the recent financial crisis, the new regulatory framework was introduced that will enrich the quality and level of capital ratios for the banking system. However these capit al ratios required to be based on specific risk measurement that permits for appropriate comparison as these gives new prominence to the stability of the underlying RWA. The aim of this paper is to examine the RWA performance after recent global financial crisis in Malaysian banking system. The study uses quantitative approach to examine in detail the RWA performance from year 2012 to 2016 using secondary analysis of bank�s annual report.

Mortality rate is the measurement of the number of death in certain population and it is scaled to the size of the population per unit time. The study of mortality rate is meant to find ways to extend the survival of an individual to reduce the mortality rate. Mortality rate is also one of the important elements in determining the premium in insurance pricing. In Malaysia, Census department will take the responsibility to determine the total number of population and the data will be presented in the form of five years age group called Abridged Life Table. This paper used the Abridged data and to obtain the rate for each age, Heligmann Polard Method was applied to expand the Abridged Life table into a complete table.

The aim of this paper is to explore the banks' managers’ perceptions towards equity-based financing practices in Malaysia. The study uses qualitative approach to explore in detail their perceptions as well as the experiences towards equity-based financing practices in Islamic banking approach. In-depth interviews with Islamic banks’ managers in Malaysia and thus phenomenological strategies are used in analyzing the data. It is concluded that the interviewees have considerable perceptions towards equity-based financing practices and this paper proposed the future work of research. Keywords: Equity-based financing, Musharakah, Mudharabah, Business & Management, Islamic Banking, Islamic Finance.

Equity-based Financing (EBF) - Musharakah and Mudharabah are one of the unique contracts introduced by Islamic banks because they have unique features compared to other types of financing such as in terms of types of partners, rights of management, sharing profit-and losses, liability and ownership of assets. This paper aims to examine the factors that drive Malaysian Muslim users of financing to accept EBF. Specifically, this paper examines the relationship between five factors: knowledge, understanding, perception, the level of awareness and religiosity among Malaysian Muslim users of financing regarding their acceptance on EBF. Approximately 258 Malaysian Muslim users of financing around Kuala Lumpur, Selangor and Negeri Sembilan were randomly picked as respondents of this study. Qualitative data were also collected through interviews with the bank personnel and the bank’s customers besides the online-based self- administered questionnaire survey. Employing the SPSS approach, the hypotheses of the study were tested. The findings showed that there are significance relationships between understanding, perception, the level of awareness and religiosity perceived among Malaysian Muslim users of financing and their acceptance of EBF except for knowledge was not significant. Keywords: Equity-based Financing (EBF), Musharakah, Mudharabah, Islamic Banking and Finance

For the past decade, a plenty of literature has examined the empirical relationship between economic growth and financial development. An important question of the literature is whether the financial systems influenced growth or vice versa, in the long run. The question of financial development and economic growth is an egg-and-chicken question. Which one comes first, economic growth or financial development? The study seeks to address the question of what is the relationship between financial developments and economic growth in Malaysia. This research study aims to fill the gap and provide the base for further investigation analysis. In this research the writer use dynamic ordinary least square (DOLS) and investigate the relationship between economic growth and financial developments. From (DOLS) model a further investigation of granger causality are also tested to identify direction of causality. The results indicate that there is a weak evidence on long run relationship between economic growth and financial developments. There was no causality relationship between capital market and economic growth however, banking development identified as a lead factor towards economic growth in Malaysia.

Economists believe that efficient financial development is significant for building sustainable economic growth in any country. The global financial crisis, economic events and country’s uniqueness has resulted in continuous research to examine the relationship of financial and economic development using numerous methods and indicators which presented various simulation that led to different views on the linkages. Most of the studies had tested the indicators individually which resulted in less dynamic findings and creates a gap in the research. Hence, this paper aims to examine the relationship between financial development and economic growth in Malaysia by observing different economic indicators concurrently. This study using Malaysia’s annual time series data from 1990 to 2019. This study employs descriptive statistics, regression estimations, unit root test, Johansen co-integration test, VAR, and VECM modeling. The FTSE Kuala Lumpur Composite Index (FBMKLCI) and domestic credit as a percentage to GDP (DC) have been used as proxies for financial development while GDP per capita and Industrial Production Index (IPI) as proxies for economic growth. The findings reveal that FBMKLCI and domestic credit produces a significant relationship towards GDP per capita in the long run and short run. Contrary results found in FBMKLCI-domestic credit-IPI nexus whereby FBMKLCI and domestic credit demonstrate negative association towards IPI. As this study uses the same variables to indicates the relationship towards unalike economic growth gauge, more dynamic work and effort shall be considered to enhance the results. Government and respective institutions shall play their role effectively to revisit or formulate policy and law of the financial system to stimulate the growth of the Malaysian economy.

The aim of the study is to explore the Shariah adviser’s perceptions on credit evaluation process in commercial financing activities in Islamic banks. To achieve this aim, the study conducts in-depth interviews as to identify the Five C’s and CAMPARI elements in credit evaluation process, Adl’, Ukhwah, Istiqamah, Akhlak, Syura and Tawakkal elements in credit evaluation process, Daruriyyah and Hajiyyah in credit evaluation process and lastly is exploring the credit management (during and after the lifetime). The study found that any development to strengthen credit risk is always welcome. As already mentioned, the parameter provides the value add mechanism in achieving a thorough financing evaluation process. However, Islamic banks must be mindful that moving forward, the financing or credit officers must have the necessary skills and experience to handle the proposed parameter and they have to be well trained. As a result, it is good to implement this parameter if the clients are ready to embrace this parameter and the bank personnel have the necessary experience and skills.

This paper aims to examine the publication metrics of literature related to the influential aspects of ESG (environmental, social, and governance), SRI (socially responsible investing), ethical, and impact investing on the portfolio and financial performance literature. It also seeks to identify major patterns and core themes in this topic and draw lessons from the past literature for future directions. Data from the SCOPUS database were used in this study. The ‘biblioshiny’ R package, also known as ‘bibliometrix 3.0’, was employed to conduct bibliometric analysis, utilising mapping and clustering techniques on 260 articles, in order to distil the comprehensive knowledge and identify emerging trends in ESG, SRI, ethical, and impact investing. The thematic map classified the ESG, SRI, ethical, impact investing and performance relationship themes into four categories of themes: niche themes (SRI, engagement and ESG), motor themes (corporate financial performance, corporate social performance, ESG, ESG factors, sustainability, performance, integrated reporting, gender diversity, and board size), emerging or declining themes (social responsibility, environmental performance, socially responsible investment, ethical investment, and SRI), and basic or transversal themes (financial performance, corporate social performance, ESG performance, environmental, social, and governance). Socially responsible investing, engagement, and ESG imply a position between niche themes and a highly developed topic/emerging or a decreasing theme, while the impact of COVID-19 on sustainability and financial performance implies a position between a highly developed topic/emerging or decreasing theme and a basic theme. The findings contribute to the enhanced understanding of ESG, SRI, ethical, impact investing and performance, which are crucial for an efficient capital market in promoting sustainability and sustainable development. The study offers vital practical implications and future research directions.

Islamic banking has been in the market for almost fifty years, since its inception during the 1960s. Since that time, Islamic banking has rapidly developed and is no longer a strange concept. The products and services provided have been well accepted, not only among Muslim countries but also non-Muslim countries. However, there is a lack of discussion on how Islamic back perform in term of corporate social responsibility compare than conventional bank. The paper aims to analyze the relationship of Islamic bank and CSR performance. It is a conceptual attempt to discuss on how Islamic principles of Islamic bank can influence the implementation of CSR. The religious characteristics that acted as a foundation for the establishment of Islamic banking are expecting to have an influence on corporate social responsibility. For that, the paper examines and analyse the relevant literature and develop the relationship between Islamic bank concept and CSR. The paper found that, the concept of Islamic bank that comply with religious provision should exhibit more proactive CSR activity and policies. Islamic bank performance should superior compare than conventional bank counterpart.