https://hdl.handle.net/10419/236893 Fri, 23 Oct 2026 02:18:21 GMT 2026-10-23T02:18:21Z https://hdl.handle.net/10419/302029 Title: Some thoughts on resetting the roles and functions ofSharīʿah committees of Islamic banks in Malaysia Authors: Mansor, Md. Isa; Lee, Siew Peng; Obiyathulla Ismath Bacha; Rubi Ahmad Abstract: Purpose - The purpose of this study is to understand and evaluate the roles and functions of the Sharīʿah committee (SC) of Islamic banks (IBs) in Malaysia and to recommend a resetting of the scope of responsibilities to enable the SC to effectively respond to current market needs. Design/methodology/approach - A Likert-type survey questionnaire was developed and distributed to all available SC members through e-mails and online surveys as well as self-administered questionnaires. At the end of the survey, 87 useable questionnaires were collected from 161 SC members, representing a 54% response rate. Findings - This study finds that most SC members have the necessary Sharīʿah qualification, and they are mostly academics with doctoral degrees. However, there is a noticeable lack of diversity in the composition of experts in the committees. Respondents indicate that their main functions are to ensure Sharīʿah compliance of bank operations and product offerings. This is of course consistent with their stated functions as outlined in the Bank Negara Malaysia's Sharīʿah Governance Policy Document (BNM, 2019). The study finds that SCs are not involved in product development, nor responsible for financial performance. Respondents indicate three ways to enhance the role of SCs: improving banking knowledge of the members, more engagement with the board of directors (BoDs) and broadening the functions of SCs. Practical implications - This study highlights two policy implications. First, there is a strategic need for IBs to consider having a diversity of expertise in the SCs while maintaining the Sharīʿah experts as core members. Second, this study recommends a reset of the scope of duties of the SC to include three new areas: risk management, product development and financial performance. Originality/value - This study evaluates the current functions of the SC of IBs in Malaysia and provides suggestions for improvement in the composition of the committee and in the scope of duties of SCs based on contemporary needs. Sat, 01 Jan 2022 00:00:00 GMT https://hdl.handle.net/10419/302029 2022-01-01T00:00:00Z https://hdl.handle.net/10419/302040 Title: Islamic mobile banking smart services adoption and use in Jordan Authors: Yaseen, Saad Ghaleb; El Qirem, Ihab Ali; Dajani, Dima Abstract: Purpose - The research identifies the predictors of Islamic mobile banking (IMB) smart services adoption and usage in Jordan. Design/methodology/approach - Based on the Unified Theory of the Acceptance and Use of Technology (UTAUT) and the Unified Theory of the Acceptance and Use of Technology 2 (UTAUT2), an extended and modified model that encompasses perceived trust was developed. The sample comprised 358 customers from Islamic banks (IBs) in Jordan, and structural equation modelling was applied to examine data drawn from the sample. Findings - The research framework presented 0.728% of the behavioural intention variance and 0.455% of the use behaviour. Results discovered that performance expectancy, perceived trust and hedonic motivation have significant relations with behavioural intention. The finding that effort expectancy has an insignificant effect and that social influence has a significant negative influence on behavioural intention was unexpected. Research limitations/implications - The research has successfully verified the effect of performance expectancy, perceived trust and hedonic motivation on the customer's intention to use IMB smart services. However, the research data findings are based on the cross-sectional design. Practical implications - The outcomes hold implications for marketing strategy makers who are responsible for promoting IMB smart services in IBs. Originality/value - This research presents a deeper insight into IMB adoption and use. The research employed UTAUT and UTAUT2 as the baseline model and incorporates perceived trust to estimate behavioural intention. To the best of the authors' knowledge, this could be the first inquiry that examines IMB smart services adoption and use in Jordan. Sat, 01 Jan 2022 00:00:00 GMT https://hdl.handle.net/10419/302040 2022-01-01T00:00:00Z https://hdl.handle.net/10419/302022 Title: Performance comparison between Islamic and conventional stocks: Evidence from Pakistan's equity market Authors: Jabeen, Munazza; Kausar, Saba Abstract: Purpose - This paper aims to examine the performance of Islamic and conventional stocks listed at the Pakistan Stock Exchange by using both parametric and non-parametric approaches. The motivation is to do risk-return analysis of Islamic stock prices and conventional stock prices. Design/methodology/approach - It uses various measures of performance, e.g. Sharpe ratio, Treynor ratio, Jensen's alpha, beta, generalized auto-regressive conditional heteroskedasticity and stochastic dominance. Using the Karachi Meezan Index-30 (KMI-30) and the Karachi Stock Exchange Index-30 (KSE-30) as proxies for Islamic and conventional stock prices, respectively, it examines the performance of Islamic and conventional stocks. The daily data of KMI-30 and KSE-30, covering period from June 9, 2009 to June 20, 2020 are used. Findings - The results show that the overall KMI-30 outperforms the KSE-30. The returns of the KMI-30 are greater than the KSE-30. However, the risk and volatility of the KMI-30 and KSE-30 are similar. Further, the KMI-30 has higher excess returns per unit of total risk than the KSE-30. But both indexes have similar excess returns per unit of systematic risk. Moreover, the KMI-30 returns have stochastically dominance over the KSE30 returns. These results reveal that the Islamic index performs better than the conventional index. Practical implications - The findings provide several practical implications in financial and investment decisions making by investors, managers and policymakers such as strategies for asset allocation and investment. Further, in risk management, it provides guidance for allocating portfolios and managing risk. The investment in Islamic stocks may mitigate potential risk within asset portfolios. Originality/value - This research is unique in its approach to the analysis of the performance comparison of conventional and Islamic stock by using comprehensive parametric and non-parametric estimation techniques. Such research has not been undertaken in the Pakistan's equity market since. Sat, 01 Jan 2022 00:00:00 GMT https://hdl.handle.net/10419/302022 2022-01-01T00:00:00Z https://hdl.handle.net/10419/302028 Title: Legislative provisions for waṣiyyah wājibah in Malaysia and Indonesia: To what extent do they differ in practice? Authors: Suhaili Alma'amun; Mohd Khairy Kamarudin; Wan Nadiah Wan Mohd Nasir; Nasrul Hisyam Nor Muhamad; Riayati Ahmad Abstract: Purpose - This research aims to examine and compare differences in waṣiyyah wājibah (obligatory bequest) (WW) practices in Malaysia and Indonesia. Design/methodology/approach - This is an exploratory qualitative research, employing a thematic analysis approach. Six Muslim Wills (State) Enactments [Enakmen Wasiat Orang Islam (Negeri)] in Malaysia, Islamic Law Compilation (Kompilasi Hukum Islam) in Indonesia, two fatwas (ruling in religious matters) and one court case from each country are analysed. Data is collected from official government websites and other reliable search engines. Findings - First, the findings show that the WW practice in both countries is similar regarding the quantum of the beneficiaries' entitlement. However, the practice varies between both countries in terms of the types of beneficiaries and how the bequest is distributed. Second, this study shows the potential of WW as an estate planning instrument to complement the existing instruments in each country, especially when addressing family members who are not entitled to succeed by farāʾiḍ (Islamic inheritance law). Practical implications - The provision of relevant laws and regulations regarding WW needs to be formulated to guarantee the well-being of dependants. The differences in practice between the two countries can be a guideline to expand the WW scope and context to other Muslim countries. Originality/value - This study is the first attempt to compare WW between two Muslim-majority countries focusing on relevant laws, court cases and regulations. Sat, 01 Jan 2022 00:00:00 GMT https://hdl.handle.net/10419/302028 2022-01-01T00:00:00Z