• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.285-293
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• 2022

Issues relating to business inheritance are a primary focus for business owners. Business inheritance is critical to ensuring that the business can be managed by the next generation and family members can benefit from the earnings and revenues. Therefore, preliminary planning must be done while the business owner is still alive by selecting the appropriate business inheritance mechanism for Muslims in Malaysia. The mechanisms of business inheritance, notably faraid, hibah, amanah, and hibah amanah will be examined in this paper from both a civil and Islamic perspective. By reviewing written journals and previous research, this research utilizes the library method. According to this study, business succession can be carried out by naming a beneficiary as a partner in the company or by completing the ownership transfer process while the owner is still living. In the other situation, it can be done by anyone among the heirs agreeing to re-register the business as usual. Meanwhile, there are four main instruments in Islamic law that can be used: faraid, hibah, amanah, and commercial hibah. According to this study, each instrument has a different impact on business succession. Entrepreneurs should use these instruments in their firm succession planning.

• ETRI Journal
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• v.38 no.4
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• pp.622-633
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• 2016

A discontinuous reception (DRX) operation is included in the Long Term Evolution (LTE) system to achieve power saving and prolonged battery life of the user equipment. An improvement in DRX power saving usually leads to a potential increase in the packet delay. An optimum DRX configuration depends on the current traffic, which is not easy to estimate accurately, particularly for non-real-time applications. In this paper, we propose a novel way to vary the DRX cycle length, avoiding a continuous estimation of the data traffic when only non-real-time applications are running with no active real-time applications. Because a small delay in non-real-time traffic does not essentially impact the user's experience adversely, we deliberately allow a limited amount of delay in our proposal to attain a significant improvement in power saving. Our proposal also improves the delay in service resumption after a long period of inactivity. We use a stochastic analysis assuming an M/G/1 queue to validate this improvement.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.3
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• pp.57-65
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• 2016

The purpose of this paper is to investigate the volatility of both Islamic and conventional stock market in Indonesia with the aim of identifying the most appropriate model for risk management practice. The study considers GARCH as a genre of model to measure the volatility of stock market movement. The results support the view that each model shows specific volatility from both Islamic and conventional stock market in Indonesia. In Islamic stock market, volatility is affected by exchange rate and money supply (M1) but not interest rate as interest is prohibited in Islam. However, interest rate is found as a principal factor that affects volatility of conventional stock market. The outcomes of this paper are of particular significance to policy makers, as it provides guidelines to maintain economic health. Furthermore, the findings may assist practitioners to understand the consequences of macroeconomic factors such as exchange rate, money supply and interest rate, which are very crucial for the market stability of Indonesian stock market. The paper enhances the understanding of stock market volatility and proposes guidelines risk management practices.

• Korean Institute of Interior Design Journal
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• v.19 no.3
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• pp.13-21
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• 2010

Early mosque architecture is time that islam attempts fixing since hjira by Muhammad. Before Umayyad dynasty is established a country since islam occurrence, islamic influence was not extended much and stayed in Mecca area. Of course, when is Patriarchal Caliphate period, although there was part territorial expansion, was in existing islam influence still. Regular territorial expansion to Umayyad dynasty several influences and religious conflict happen. Change about islamic architecture occurred much fatally. Therefore, can find islamic archetype about islamic architecture until Prophet Muhammad period and Patriarchal Caliphate period. Also, Muhammad that is Islamic originator participated to mosque architecture directly in life. Can understand philosophy about islamic architecture that Muhammad seeks in mosque architecture. Was age that seek Muhammad's philosophy department religious succession strongly to Patriarchal Caliphate period. Therefore, can understand role of religion, mosque architecture's meaning and role that seek in Islam. It was just before that early mosque architecture receives effect of conquest area or the surrounding country. Therefore, characteristic of mosque received much effect of Prophet Muhammad and qur'an. Do construction according to qur'an's notice based on Prophet's house's function to early mosque. qur'an is no direct delineation as form or architecture element. qur'an refers thing about spiritual aspect or function about special quality of mosque, role etc..

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.7-13
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• 2018

Purpose - The purpose of this paper is to elucidate the limelight question 'why India should open arms for Islamic banking?'. Research design, data, and methodology - The paper is theoretical and conceptual in nature and provides results based on significant literature review. Results - This paper will start with the discussion why Islamic name does not make it only for Muslims?, then its features and how it can improve India's current economic situation. Also this study will analyze the ability of Islamic finance to act as Micro-finance tool by including people who does not participate in economic activities. This paper also concludes that why religious issue should be sidelined in order to accept Islamic finance for empowerment of Muslim and non-Muslim minorities which live in abject poor conditions. Conclusions - Islamic finance has lot of merits which cannot be ignored by only looking at the name and believing that it is only for Muslims. Indian economic system needs a financial system which will work for welfare and not for profit to help poor communities in coming out of poverty. Interest free loans and micro-finance tools are the only way to help below poverty line population to raise their income level.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.789-800
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• 2020

This study aims to examine the effect of perceived usefulness (PU), perceived ease of use (PEU), trust (TR), subjective norm (SN), and attitude (AT) on customer's Intention to Adopt Internet Banking (IAIB) at Islamic banks and conventional banks before and during the Covid-19 pandemic in Indonesia. The research model is based on the Theory of Planned Behavior (TPB) and the Technology Acceptance Model (TAM). This study involves 213 respondents for Islamic banks and 410 respondents for conventional banks from 25 provinces in Indonesia. Data was analyzed using partial least square (PLS) regression with the Structural Equation Model (SEM) method. The result of data analysis confirms several hypotheses taken from the literature. The results before the Covid-19 pandemic showed that AT and SN influence IAIB in Islamic banks. Whereas in conventional banks, AT, PU, SN, and TR influence IAIB. While during the Covid-19 pandemic, it shows that the AT, PU, IB, SN, and customer TR influence IAIB in Islamic banks and conventional banks. From the analysis, it was found that the PEU variable did not have a significant effect on the intention of customers of Islamic banks and conventional banks to use Internet banking.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.1047-1056
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• 2020

The study investigates developing an Islamic student financing securitization model based on sukuk structures. This study employs sample of descriptive, analytical, and comparative analyses utilized to discuss a novel framework of Islamic securitization through the different structures of sukuk wakalah derived from asset securitization. The result served to investigate the use of Islamic student financing securitization in a Shariah-compliant manner, which would be implementable in Malaysia. It emphasized the sukuk structures based on the wakeel principle, which indicated a situation where a wakeel or representative appointment was made to manage a project on the behalf of the sukuk holder. The findings of this study supported the economic benefits obtained in the form of lower overall financing costs through the use of securitization for student financing in higher education. This paper offers important implications specifically for the creation of sukuk structures and issuing a highly graded and marketable sukuk, which are compliant towards global Shariah principles. The paper fills the gap perceived within the existing literature of Islamic finance by showing Islamic securitization via sukuk as a viable source of funds potential utilizable in stabilizing the securities market. It can also pose as a solution for securing a sustainable funding.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.223-230
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• 2021

The concept of Shariah-based internal audit has received increasing attention from researchers in recent times especially since Islamic financial institutions have been developing in several Asian countries like Bangladesh. To avoid financial irregularities and to maintain Shariah-based financial transactions, an effective Shariah-based internal audit system is extremely important for Islamic financial institutions such as Islamic banks. Hence, the objective of this study is to determine the factors that influence the effectiveness of the Shariah-based audit system. Study data has been gathered from Shariah auditors, members of the Shariah board and audit committee of six private Islamic banks in Dhaka, Bangladesh. A total of 210 survey questionnaires were sent and finally 136 responses were retained, indicating a final sample size of n=136, with a survey feedback rate of 65%. The study adopted a quantitative measure and collected only primary data, followed by convenience sampling. SPSS has been used to run necessary statistical interpretation. Results reveal that auditor's work autonomy, level of competency, and work performance significantly impact the Shariah-based internal audit effectiveness. The study findings can be adopted as guidelines to improve the overall effectiveness of the Shariah-based internal audit system in Islamic financial institutions.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.287-298
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• 2022

Indonesia is an agrarian country with the significant development of Shariah banking. This study aimed to estimate the effect of Third Party Funds (TPF), Non-Performing Financing (NPF), Exchange Rates (ER), and Bank Indonesia Shariah Certificates (SBIS) on the Sharia Agriculture Sector Financing in Indonesia during 2014-2020. This study used the Ordinary Least Square (OLS) technique to analyze the data. The coefficient of determination test showed that 99.19% of Sharia financing in the agricultural sector was influenced by TPF, NPF, Exchange Rate, and SBIS variables. The estimation results showed that the variables of TPF and ER significantly affected Sharia Financing for Agricultural Sector (PP). Meanwhile, the NPF and SBIS variables had no significant effect on PP. This research showed the resilience and accuracy of Islamic banking in selecting financing and can support the development of other Islamic financial instruments such as SBIS. Simultaneous test results demonstrated the existence of the estimating model. Because of the character of the Indonesian nation as an agricultural country, this study advised Sharia banking to prioritize the usage of third-party funds from the public for the agricultural industry. Sharia banking also needed to produce Islamic finance products that fit the agriculture business sector's needs.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.259-271
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• 2022

The role of Islamic spirituality in the relationship between organizational justice (OJ) and job satisfaction is investigated in this study (JS). The three components of OJ in this study are distributive, procedural, and interactional justice. Islamic spirituality (IS) is founded on piety values, and IS was used as a moderating factor in this study to alter the link between OJ and JS among Malaysian employees of small and medium enterprises (SMEs). Four hundred sets of the questionnaire were issued using a simple random selection procedure, yielding 276 completed responses, suggesting a 69 percent response rate. Multiple Linear Regression Analysis (MLRA) was used to test the proposed relationships. The findings of the study demonstrate that the three OJ aspects have a considerable impact on employee JS, indicating the significance of these elements in ensuring that employees are satisfied with their jobs. IS, on the other hand, had no effect on the link between the OJ dimensions and JS. This research has added to the existing body of knowledge by giving further empirical evidence on the impact of OJ aspects on employee JS in SMEs, notably in Malaysia.