http://unisep.lib.unishams.edu.my/xmlui/handle/123456789/561 2026-04-22T22:13:08Z 2026-04-22T22:13:08Z Muhammad Zarunnaim Haji Wahab Asmadi Mohamed Naim http://unisep.lib.unishams.edu.my/xmlui/handle/123456789/31950 2024-09-23T08:49:49Z 2022-09-08T00:00:00Z

Developing Islamic sustainable and responsible investment criteria: an overview Muhammad Zarunnaim Haji Wahab; Asmadi Mohamed Naim Purpose - The purpose of this study is to explore the necessity for developing Islamic sustainable and responsible investment (i-SRI) criteria based on environmental, social and governance issues. Design/methodology/approach - To address the above objective, this study adopted a qualitative method via content document analysis and interviews with experts. Findings - Based on the analysis, this study discovered five primary aspects that lead to the necessity for developing i-SRI criteria. First, Malaysia has yet to develop i-SRI criteria. Second, the absence of i-SRI criteria will eventually lead to Shariah issues. Third, any Islamic financial instrument is bound to encounter numerous issues and challenges, thereby making it difficult to be marketed globally if it does not have a proper and standardized framework. Fourth, the establishment of i-SRI criteria can serve as a key reference point for the players in the industry, including investors, policymakers and other parties. Finally, the development of i-SRI criteria can play a vital role in enhancing the current Islamic capital market products offering in Malaysia. Practical implications - There are several implications identified in this study. First, continuous research on the i-SRI criteria can offer numerous benefits to the regulatory bodies and policymakers who can use the findings in their decision-making process. Second, in terms of investors, the results can help them to make better investment choices by referring to the i-SRI criteria. Third, this study will be valuable to the academicians in terms of opportunity to explore a new research area, i.e. the i-SRI criteria, besides adding to the extant literature on this topic which is still scant currently. Originality/value - This study discovered five primary aspects that lead to the necessity for developing i- SRI criteria.

2022-09-08T00:00:00Z Aswadi Mohamad Naim Azrul Azlan Iskandar Mirza Abdul Rahman A. Shukor Mohd Zakhir Md. Nor Nuriel Aini Muhamed Azuan Ahmad Shahrul Ridhwan S. Ali http://unisep.lib.unishams.edu.my/xmlui/handle/123456789/31947 2024-09-22T07:52:57Z 2023-01-01T00:00:00Z

E-Wallet Models: An Appraisal of Sharia-Related Issues Aswadi Mohamad Naim; Azrul Azlan Iskandar Mirza; Abdul Rahman A. Shukor; Mohd Zakhir Md. Nor; Nuriel Aini Muhamed; Azuan Ahmad; Shahrul Ridhwan S. Ali This paper aims to evaluate the existing e-wallet business models and to provide a preliminary analysis of sharia issues, specifically related to the relationship of the involved parties in the contract (operators, customers, and third parties). As e-wallet is also a critical enabler to increase financial inclusion among the different levels of society members (richer and poor), thus there is an increasing need to analyze the existing e-wallet models and their practices. The final aims are to preserve all parties' rights and support the policymakers to structure e-wallet parameters that comply with Islamic law. This paper adopts qualitative research approaches, specifically content analysis and interviews. The data collection includes, among others, document reviews, interviews, and observations. The paper evaluates four e-wallet models in Malaysia and analyzes arising sharia issues from those models. In the models, several sharia issues can be found, which are related to the contracts used, the status of funds held by e-wallet providers, deposits in banks, and revenue generation. Findings from this paper serve as a basis for scholars and policymakers to provide guidelines for sharia-compliant e-wallets.

2023-01-01T00:00:00Z