Over the past decades, Islamic banking has gained a worldwide recognition. Started among Muslim countries in order to cater for the Shariah compliance banking needs of Muslims, it has now become widespread throughout the world. In Malaysia, the players in the Islamic banking industries are the local Islamic banks and recently a few foreign Islamic banks have shown interests and started their operation in this country. Internet has become a very powerful tool to disseminate information and this phenomenon has been fully utilized by Islamic banks in order to send their message to their current and potential customers. This exploratory study aims to evaluate the design and content of Islamic banks websites in Malaysia and also to compare the cumulative strengths and weaknesses in terms of website design and content between local and foreign Islamic banks in Malaysia. Suggestions for future research directions conclude the report

Education has been part of the human society from the very beginning. Human societies throughout the ages have had vested interests in education. While most societies will agree or acknowledge the importance of education, a large number of them fail to channel sufficient resources that can be used to promote and support educational institutions and activities. Meanwhile, as an institution, waqf has a direct effect to enhance the capabilities of the poor to take care of themselves by providing access to education, health and physical facilities. Hence, the institution of waqf can be effectively accommodates to the issue of financing for education in its new and comprehensive approach. Thus, the main objective of this article is to assess the willingness of public in contributing for social Islamic waqf bank for financing the education. The methodology of this research is a quantitative research towards 231 respondents among Muslim public in Malaysia. The general finding of this article shows that there is a strong willingness among public to contribute for this institution for the financing of education.

The fastest growing in technology in the recent many of years has changed the way of people live and the conduct of business. The existing of the internet and mobile has led to profound transformation to a various industry from manual-based to automatic-based activity and from offline to online transaction include in banking and financial industry. The objective of this study is to analyze the related literatures on Digital Banking and Financial Inclusion between 2014 until 2020. The methodology that has been applied in this study is descriptive research based on document analysis on previous studies and literatures on digital banking and financial inclusion either from free-of-charge or free-of-registration online journals. The journals and articles are acquired from various sources of channel such as google scholar, science direct and researchgate.com. There are 126 articles related in this field were collected and examined. This study perceived at several variables which include authorship patterns, number of articles published, research approach, geographical affiliation, subject and gender of the author. The general finding of this study illustrates that most of the previous study discussed on economic and social development that positively influenced by digital banking and financial inclusion.

Islamic financing in agriculture is aimed to finance agriculture-based projects and to prevent any involvement of haram elements by using banking and financing instruments which is Shariah-compliant among agro-entrepreneurs. However, there are several calculated and uncalculated risks that had to be faced by agro entrepreneurs in their agro projects which may force them to accommodate possible loss from effect of risks using the same funding. The methodology of this paper is through quantitative research based on questionnaires to identify patterns of agro entrepreneurs facing various types of risks. The general finding of this paper shows that agro-entrepreneurs faced various risks, which also shows there is a need to have proper Shariah -compliant financing for their agro projects through Islamic banks.

Entrepreneurship as a part of Islamic economics and businesses is related with the pursuit of opportunity beyond resources controlled. Islam always encourages Muslims to be an innovative and active entrepreneur. Conducting business ethically is an important matter that should be practiced by all entrepreneurs, especially for Muslimpreneurs. Therefore, many Muslimpreneurs become successful entrepreneurs today. A balanced combination between the elements of the spiritual and physical basis in the formulation of Islamic ethics known as akhlaq or noble characters. The implementation of the ethical values based on the philosophy of tawheed will provide a universal measure of value system that should be followed by every human being. Therefore, the formation of Muslim entrepreneur’s ethics is also based on the values of akhlaq. This research aims to analyse the characteristic of Muslimpreneurs from the view of Muslim scholars and academicians. The methodology of this research is through qualitative research based on the interview with Muslim scholars and experts. The Muslimpreneurs characteristics are the combinations of various elements including faith and worship to Allah, good intention, halalan thoyyiba, trustworthy, consent to the others and etc. This research also concludes that Islam has given specific rules that should be followed by all Muslimpreneurs which derive from the text of al-Quran and al-Hadis

Purpose: The purpose of the study is to critically evaluate the industry development of Nigerian Islamic banking system in terms of its establishment and operation using Malaysian experience as the base. The study also provides useful suggested recommendations as a way forward for the development and for the smooth running of the system. Methodology: Qualitative research method was employed by the study which consists of documentary review and face to face in-depth interview. with regulatory officers, practitioners, academicians who are directly involved in the operations of Islamic banking system in two countries Malaysia and Nigeria. And secondary source inform of documentary review is also employed. Findings: From the findings of this study, in terms of basic minimum things, most, but not all of the situations regarding shariah governance, in Nigeria are in line with footsteps of Malaysia. Thus, lots need to be done. The regulators should bear it in mind that in terms of shariah governance framework what they are have done are just the basic minimum required for the start, they should be prepared and ready for the comprehensive effective and efficient frameworks for the industry. Practical Implication/ Value of the Study: the study will have policy implication to the CBN and other stakeholders in the area of Islamic banking system. Findings of this study will be a source of reference for Nigeria and other countries in formulating the similar concept of Islamic banking system. The findings of the study will also help the management of the Islamic bank operators in the industry on how they should direct their management policies towards strategic tools to use in order to be able to reap industry’s potentials. The study will also add to the pool of available literature available on the subject matter.

The recent global financial predicament has forced regulators and economists all over the world to query the existing financial system. The objective of this article is to explore an overview of Islamic finance, including its features and its importance in the world economy. The role of Islamic finance however which act as an alternative to the conventional financial system cannot be overemphasised. Islamic financing is working within the Shari’ahstructure with certain restrictions. Islamic financial institution cannot provide finance for any activity which is prohibited by Shari’ah(Islamic law) irrespective of its profitability and economic viability for instance liquor business, pork and pornography. The methodology of this article is through qualitative method based on library research. The general finding of this article shows that there are significance differences between Islamic financial system and conventional financial system.

Futures contracts are one of the major financial derivatives instruments traded in the financial markets, providing important benefits especially in hedging, however, these contracts are forbidden in Shari’ah as they involve many legitimacy prohibitions such as riba, gharar, gambling and speculation. However, these contracts can be Shari’ah-compliant if they are free of those forbidden elements and consort with the Shari’ah requirement. As a result, there will be differences between current conventional futures contracts and purposed Shari’ah-compliant futures contracts particularly, with regard to the futures contractparties’ payoffs.The objective of this paper is to propose a model for implementation of future contract that is comply with Shari’ah requirement. This will become an alternative towards current conduct of future contract, as well as identify the differences between parties’ payoffs in current conventional futures contracts and the proposed Shari’ah-compliant futures contracts either if price fluctuations increased or decreased. The methodology of this paper is descriptive in nature by exploring the previous literature that discuss on the issue of future contract and its characteristics and the development of Shari’ah approved future contract based on the requirement of Islamic principles. As well as comparative analysis presents the differences between payoff in current futures and proposed Shari’ah-compliant futures. Based on the study, we can offer a Shari’ah approved futures contract by distinguishing the feature of the contracts where the conventional futures contracts are win-loss or loss-win contracts, while the Shari’ah-compliant futures contracts can be win-win, or win-loss, or loss-win or loss-loss contracts.

Talent enhancement programmein the Islamic financeindustry is very vitalfor enhancingthe growth ofIslamicfinancial sector. The growing challenges in the Islamic finance industrynowadays has positioned talent enhancement programmeas a high priority to achieve a sustainable development in the industry. The financial needs of the market participants continue to increase, which has led to a demand for greater and well-functioning human capital in the Islamic financial sector.The aim of this articleis to analyze and compare all the talent enhancement programmes in Islamic finance provided by various institutions in Malaysia for mainstreaming the human capital produced by institutions of higher learning. The methodology of research in this articleis through qualitative research based on document analysis on various literatures and information pertaining to various talent enhancement programmes in Islamic finance provided by various institutions in this country. The general finding in this article shows that a more proper and concerted effortby all the participating institutions arerequired in order to develop and designa more comprehensive talent enhancement programme for mainstreaming human capital in Islamic finance.

The Islamic law (fiqh) concerns all aspects of religious, social and economic life of human being. Besides religious observances (ibadat), this legal law seeks to regulate the institutions of family, marriage, inheritance, property relations, economic contracts and obligations as well as land tenure system. The problems of land tenure system and land development have been discussed copiously in the early fiqh literary source in Islam. Thus, this paper tries to analyze various contracts of cultivation from the perspective of Islamic Commercial law as well as Islamic financing available in Islamic banking institutions in Malaysia for the land development project. The methodology of research in this paper is through document analysis, interviews with relevant Islamic bank officers and observations from pamphlets and websites of selected Islamic banks. The finding shows that there are plenty of opportunities available for Muslim in this country in order to embark in the land cultivation and land development projects based on Shariah compliant Islamic financing arrangements.

Education is very important for the development of humankind and economic progress. Nevertheless, not everyone has the opportunity and access to the proper education system. Interest is something that is known to anyone living in a capitalist country. It has become so completely institutionalized and accepted in modern economies that it is almost impossible to conceive that there are some who completely oppose it and refuse any transactions that involve interest. But there are devoutMuslims who refuse to deal in interest.This case study tries to explore the controversial issue relating to the loan offered by the PTPTN either it is considered as ribaor otherwise. The purpose of this case study is not to show any weaknesses of the named person, but just to provide a basis for discussion.

Lack of efficiency in administration as well as attitude of the legal heirs are the factors that cause frozen assets. It is estimated that RM 66.6 billion of the property could not be distributed to the legal heirs due to several reasons. The majority owner of those assets are Muslims. Even though estate management planning in Islam is divided into two, during the lifetime and after the death of owner property, still there is occurrence of the problem. In order to solve this issue, people should be exposed to the way of distribution of property including before and after the death. Thus, the objective of this paper is to investigate on coordinating of waqf, wasiyyah and faraid in Islamic wealth distribution among Malaysian Muslims. The methodology of research in this paper is through quantitative research based on 127 selected respondents in Malaysia. As a results of this study, basically the respondents agreed that by coordinating of waqf, wasiyyah and faraid could ease burden of the owner and heirs as well as could reduce issues of frozen assets to the lowest level.

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.

Advertising is one of marketing tools to promote products and services as well as to increase reputation and image used by the company. In recent years, there are many ways of advertising to attract customer’s attention including through billboard, television, radio, newspapers and latest trends of advertising is through Internet by using social website. It is such the best medium to promote product as these days are people more busy in daily life, hang with the latest gadgets and need advanced information. Advertising became more synonyms with the people as soon as after any product or services being introduced to the public. However, a lot of advertising brings worried by some of people that concerns towards inappropriate advertising show to the public and seen by all level of ages including children, teenagers, adults and old folks. Because of this concern, the issues raised up in questioning the inappropriate advertising may bring destructive thoughts to the next generation compared from the past (before the existence of Internet) and the present in Malaysia(Mohamad Noorizzuddin bin Nooh, 2014). This article will discuss the unethical advertising criteria that give impact to the next generation.

During the global financial crisis and its aftermath, Islamic financial institutions were less affected, protected by their fundamental operating principles of risk sharing and the avoidance of leverage and speculative financial products. This has led to a greater appreciation of the role of Islamic finance in supporting economic growth across the globe. The contribution of Islamic finance and Islamic social finance especially through waqf sector promotes real economic development and could help to foster real economy and social sustainability. The impact and contribution of waqf for economic development in fostering real economy and social sustainability can be obverved in many areas such as enhancing economic progress, eradicating proverty, restoring distribution of income, reducing government expenditure, preventing deficit financing and stimulate growth and job creation. Therefore, a new mechanism is needed to support non-bankable and poor customers for financing facilities via Shariah compliant Islamic financial products and services.The purpose of this paper is to examine the most feasible mechanism for deposit and financing instruments based on waqf through Waqf Bank that able to foster and stimulate economic and social sustainability in the real economy sector especially for Muslim countries. The methodology of research in this study is through qualitative research based on interviews with Muslim scholars as well as Islamic banking and waqf practitioners. The finding of this study shows that there is feasible mechanism and modus operandi for the development of deposit and financing instruments in the Waqf Bank that able to be applied in many Muslim countries worldwide.

With the improvement of lifestyle and purchasing power, Malaysians have shifted their shopping preferences from small retail stores to the hypermarkets. One of the reasons is that these hypermarkets offer a complete array of merchandises under one roof. Changes in technology have a great impact on the development of the global economy. The global progression of electronic commerce shows that people are becoming dependent on the Internet for communications and services. The purpose of this research is to evaluate Mydin’s websites. By having a website, it offers Mydin an alternative to disseminate information not only on its company, but also on other promotion, contests, events, corporate social responsibilities activities and other information which is deemed appropriate for it existing and potential customers. In order to do that, Mydin has to recalibrate some of the feature in its websites such as the issue of copyright of the site and also the information on the author or moderator of the website.

Education is very important for the development of humankind and economic progress. Nevertheless, not everyone has the opportunity and access to the proper education system. A special design financial institution is needed in order to finance those students for their education. On the other hand, Islamic waqf bank is a special designed financial institution in Islam. This bank will benefit the students and also their parents, due to its unique structure that could finance students education in term of fees and cost of living. Islamic waqf bank uses the concept of cash waqf in term of funding the education. Cash waqf is a trust fund established with money to support services for mankind's benefits in the name of Allah. It is recognized that there is no ample study in the area of cash waqf especially for managing Islamic waqf bank institution. Therefore, the study for the management of cash waqf fund is essential in order for the fund to be use efficiently. The objective of this article is to examine the tendency among students for the establishment of Islamic waqf bank. The methodology of this article is a quantitative research based on 250 students. The general finding of this article shows that there is a high tendency among students to establish Islamic waqf bank for education.

The justice in Islam had attracted and opens the hearts of non-muslins to accept Islam. The justice and truthfulness of Islamic teaching attracts the human to be part of its through conversion or reconciliation of hearts (Muallaf al-Qulub) and it is one of the zakat recipients mentioned in Al-Qur'an. In Selangor, zakat assistance to the new converts begins from the first day they become Muslims. The new Muslim would be immediately helped with MYR 500.00 monthly allowance for five years until they manage to act in accordance with Allah's orders and to perform worshipping (Mukallaf). This paper identifies the factors of new converts' poverty in Selangor, Malaysia using a logistic regression method. A set of survey questionnaires has been used in this research and 80 respondents were randomly selected from Selangor Zakat Centre (SZC) zakat recipient's list from the New Converts category for nine districts of Selangor in 2013. We estimate the probability of households with specified characteristics to fall below Malaysia's official poverty line. Results show that education, size, region, income and amount of zakat received significantly reduces the chance of being poor while gender, age, status were not significant predictor. Thus, these statistical measures have proven the positive role of zakat in reducing poverty among the new converts. The findings have important policy implications for zakat institution and Malaysian government which has pledged to reduce overall poverty rate to 2.8 per cent and eradicate hard core poverty by 2010 under the Ninth Malaysian Plan.

Background: Purpose -The purpose of this paper is to contribute to the existing disclosure literature by examining the determinants of Corporate Social responsibility disclosure (CSR) of Islamic banks in Malaysia for the year 2011-2015. -This study uses the manual content analysis to measure the level of CSR information in 50 annual report prepared by 10 local Islamic banks. An ordinary least square regression is used to examine the relationship of corporate governance mechanisms and firm characteristics on CSR disclosures. Findings- We found a significant positive association between the board of director size and CSR disclosure practice among Islamic banks