Browsing by Author "Shahwan S."
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Publication Home financing pricing issues in the Bay' Bithaman Ajil (BBA) and Musharakah Mutanaqisah (MMP)(Kolej University Islam Sultan Azlan Shah, 2013) ;Shahwan S. ;Mohammad M.O. ;Rahman Z.A. ;Islamic Finance and Wealth Management Institute (IFWMI) ;Faculty of Economics and Muamalat ;Universiti Sains Islam Malaysia (USIM)International Islamic University Malaysia (IIUM)Islamic banking in Malaysia has evolved rapidly since its first invention in 1983. Throughout 30 years of development, various products have been developed to fulfill the demands of the society both Muslim and Non-Muslim. Positive support and constructive criticisms have flourished the industry and made the product innovation to be enhanced accordingly. With regards to the products, retail financing is observed to be so dearer to the society compared to other form of financing like trade and corporate. Home financing is regarded as the most influential one since it normally affects long term commitment of the customer. Thus, this paper aims at analysing pricing issue of home financing products offered in Malaysia specifically BBA and MMP. The study uses content analysis method with intense and analytical readings of the previous texts and literatures on issues observed in the two products. The issue will then be comparatively reviewed using Maqasid-based appraisals. - Some of the metrics are blocked by yourconsent settings
Publication The objective of islamic economic and islamic banking in light of maqasid al-shariah: A critical review(2013) ;Mohammad M.O. ;Shahwan S. ;Islamic Finance and Wealth Management Institute (IFWMI) ;Faculty of Economics and Muamalat ;International Institute of Islamic Banking and Finance (IIiBF) ;International Islamic University Malaysia (IIUM)Universiti Sains Islam Malaysia (USIM)There has been variation in the objectives of Islamic economics. It is also assumed that the objectives of Islamic economics are supposed to guide the objective of Islamic banking and Finance. Over the years, there seem to be widening gap between the two Islamic disciplines in terms of their objectives. There are hardly any studies that have formally documented the issues that have contributed to the widening gap between the two disciplines and whether these differences are reconcilable. This paper therefore is a critical survey of the literature on the subject, using Maqasid al-Shariah as a benchmark for examining the variations and relationship between both disciplines. The issues of theories versus practice was given due emphasis. The study, which is exploratory in nature, adopted content analysis and inductive method to achieve its objectives aforementioned. The study has concluded from the observation of the selected literatures that the five elements of Maqasid al-Shariah were fully observed in the objectives of Islamic economics and Islamic bank. However, it is also found that the objectives of Islamic banks mostly aimed towards profit-oriented entity rather than social-based entity. Thus, it is suggested that Islamic banks' objectives should promote the objectives of Islamic economics thus inculcating as well Maqasid al-Shariah in its holistic direction. - Some of the metrics are blocked by yourconsent settings
Publication Product recall management for Halal product(2013) ;Shafii Z. ;Shahwan S. ;Muhamed N.A. ;Hashim H. ;Amin M.F.M. ;Rahim A.A. ;Aziz Y.A. ;Jusoff K. ;Zaib S.M.Z. ;Institute for Halal Research Management (IHRAM) ;Faculty of Quran and Sunnah Studies ;Faculty of Syariah and Law ;Faculty of Economics and Muamalat ;Islamic Finance and Wealth Management Institute (IFWMI) ;Universiti Sains Islam Malaysia (USIM)Perdana School of Science, Technology and Innovation Policy (UTM Perdana School)Product recalls are damaging to companies due to its effects to financial performance as well as the image of the company. Product recall management is the final step of traceability system in a company. When the incidence of product recall happens, a company must have a good recall management system that works as the last defense to the company's image. This study examines the product recall management in two companies operating in Halal industry. The objective of this study is to examine the implementation of Halal traceability measures and recall programs in the companies under the study. This study employed case study method to obtain data from two companies operating in Halal industry; one is a manufacturing of Halal product while another is a slaughterhouse. This study provides analysis on Halal traceability system implemented by two companies and the procedure of food recall produced by Jabatan Kemajuan Islam Malaysia (JAKIM). Findings of the study indicate that both of the surveyed companies practiced seven elements of traceability system to prevent them from involving in the incidence of food recall. The results also imply that food recall management and Halal traceability implementation are important in order to maintain the company from receiving negative impacts of food recall. Future comparative research on the similarities between food recall in Halal food and non-Halal food industry could be conducted to improve the product recall management in the Halal industry.