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result(s) for
"Adewale, Abideen Adeyemi"
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Propensity toward indebtedness: evidence from Malaysia
Purpose
The purpose of this paper is to develop a model for studying the propensity towards indebtedness in Malaysia using behavioural factors.
Design/methodology/approach
A self-administered questionnaire was distributed among Malaysians who work in Klang Valley, Kuala Lumpur. The questionnaire contained several demographic variables and four behavioural factors: financial literacy, risk perception, materialism and emotions. A total of 201 completed questionnaires were received and the data were tested using structural equation modelling with partial least squares.
Findings
This study found that emotion and materialism are statistically significant for a propensity towards indebtedness, while financial literacy and risk perceptions are insignificant for a propensity towards indebtedness.
Originality/value
The results of this study would be useful in helping design better models for credit offerings and addressing credit problems in the long run.
Journal Article
A proposed Bay-Salam with Takaful and value chain model for financing agriculture in Kano State, Nigeria
PurposeThe purpose of this paper is to propose a model that will demonstrate how the integration of Salam (exclusive agricultural commodity trade) with Takaful (micro-Takaful – a subdivision of Islamic insurance) and value chain can address major challenges facing the agricultural sector in Kano State, Nigeria.Design/methodology/approachThe study conducted a thorough and critical analysis of relevant literature and existing models of financing agriculture in Nigeria to come up with the proposed model.FindingsThe findings indicate that measures undertaken to address the major challenges fail. In view of this, this study proposed Bay-Salam with Takaful and value chain model to solve a number of challenges such as poor access to financing, poor marketing and pricing, delay, collateral requirement and risk issues in order to avail farmers with easy access to finance and provide effective security to financial institutions.Research limitations/implicationsThe paper is limited to using secondary data. Therefore, empirical investigation can be carried out to strengthen the validation of the model.Practical implicationsThe study outcome seeks to improve the productivity of the farmers through enhancing their access to finance. This will increase their level of production and provide more employment opportunities. In addition, it will boost financial inclusion, income generation, poverty alleviation, standard of living, food security and overall economic growth and development.Originality/valueThe novelty of this study lies in the integration of classical Bay-Salam with Takaful and value chain and create a unique model structure which the researchers do not come across in any research that presented it in Nigeria.
Journal Article
Factors influencing behaviour to participate in Islamic microfinance
Purpose
The purpose of this paper is to empirically examine the factors that affect Muslim customers’ participation in using Baitul Maal wat Tamwil (BMT). The decomposed theory of planned behaviour (DTPB) was used as the research framework.
Design/methodology/approach
The paper uses primary data collected by self-administered questionnaires involving a sample of 405 respondents from selected BMTs in five different regencies in East Java. Structural equation modelling was used in the analysis.
Findings
This study revealed that among the three main beliefs, only perceived behavioural control towards BMT was found to have positive and significant impact on clients’ participation towards BMT. With regards to antecedents’ influence on their main beliefs, only perceived compatibility, perceived complexity and uncertainty and facilitating condition were not significant.
Research limitations/implications
As the data collected are existing clients of BMT, behavioural intention is excluded from the study, and as a result, the study may lack comprehensive results. Therefore, future study will be very useful if it includes behavioural intention as the variables.
Practical implications
The finding of the present study could help BMT to better manage by focussing on relative advantage and behavioural control to build client relationships.
Originality/value
The paper may be first study to apply DTPB to client behaviours in the area of Islamic microfinance in Indonesia.
Journal Article
The feasibility of online dispute resolution in the Islamic banking industry in Malaysia
Purpose
The paper aims to examine the perceptions of three major stakeholders – bankers, lawyers and customers – in the Islamic banking industry in Malaysia to assess their behavioural intention to use the proposed online dispute resolution (ODR) mechanism.
Design/methodology/approach
The study modifies the unified theory of acceptance and use of technology (UTAUT) within the context of ODR and its feasibility in the Malaysian Islamic banking industry. The model was extended to include trust in technology and trust in bank, which might have significant influences on the intentions of major stakeholders to use ODR for banking-related disputes. Actual use of the ODR was not included in the model as specified in the original UTAUT. Based on an internet survey, responses were obtained from about 109 respondents. The data obtained were subjected to multivariate statistical analyses.
Findings
Results obtained indicate that trust in technology and effort expectancy are the most influencing determinants of the behavioural intention to use ODR among stakeholders in the Islamic banking industry in Malaysia. However, performance expectancy and social influence did not produce significant effects on behavioural intention.
Research limitations/implications
Applying ODR in the banking industry in Malaysia will contribute to sustainable banking businesses in major Islamic finance jurisdictions. Being the most advanced region in global Islamic banking business, Asia sets the pace through theoretical and empirical studies in exploring innovative ideals such as ODR to promote sustainable business that not only ensures proper customer relationship management but also promotes consume protection.
Practical implications
Results obtained suggest that the increasing use of internet banking will make ODR the preferable mechanism for dispute resolution in small-scale disputes in retail banking. This will also require some form of predictability, enforceability and Shari‘ah compliance in the process of dispute resolution for the major stakeholders to have full confidence in the ODR mechanism. The recently introduced Financial Ombudsman Scheme in the Islamic Financial Services Act 2013 of Malaysia is expected to serve as a good legal basis for the ODR mechanism.
Originality/value
This appears to be one of the earliest attempts to examine the application of ODR in resolving Islamic banking disputes with a detailed analysis on its legal basis and implication.
Journal Article
Investment decision behaviour of the Malaysian retail investors and fund managers
Purpose
This study aims to investigate the Malaysian retail investors and fund managers’ investment decision behaviours. The study offers an important opportunity for understanding the investors’ experiences, how they understand the Malaysian economy and their priorities for company selection. Other main aspects of this study are how investors mitigate the influence of emotions and psychological biases and challenges faced during investment decisions.
Design/methodology/approach
The researchers have mainly adopted an interpretivist approach for the present study. Qualitative data elicited through semi-structured interviews conducted with four retail investors and four fund managers were subjected to qualitative thematic analysis.
Findings
The results reveal that the investment decision processes of fund managers are more comprehensive than those of retail investors. Although both fund managers and retail investors acknowledge the influence of psychological biases on their investment decisions, the former use different and comprehensive approaches to mitigate such influences during investment decisions compared with the latter. Other important findings are how investors understand the Malaysian economy, their priorities for company selection and challenges faced during investment decisions.
Research limitations/implications
The researchers have interviewed eight carefully selected interviewees across retail investors and fund managers divide. Adopting other grouping criteria, focus group discussion with more respondents or adopting a mixed-methods approach may increase our understanding of the investment decision behaviours of Malaysian retail investors and fund managers.
Practical implications
This study could be used as a guide by both retail investors and fund managers when making investment decisions.
Originality/value
This research has included both retail investors and fund managers; it has also increased literature on investment decision and behavioural finance, particularly in the context of Malaysian investors and managers.
Journal Article
Framework for financial hardship indebtedness management in abandoned housing projects in Malaysia
PurposeThis paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Sharīʿah and statutory requirements.Design/methodology/approachThis study employs the qualitative research method using the inductive approach to analyze both primary and secondary data and sources. Data collection involved a series of semi-structured interviews with five volunteering Islamic banks and a representative of Abandoned Property Owners Association Malaysia (Victims). Statutory acts, regulatory policies, guidelines, directives and standards were also analyzed.FindingsThe result indicates developer’s default, underlying contracts, regulatory arbitrage and bureaucracy, attitudinal disposition of customers and sell-then-build approach as major factors of AHP’s conundrum.Practical implicationsThis study has suggested both short- and long-term solutions based on the principles of justice, public interests and removal of hardship to resolve and effectively manage financial hardship indebtedness arising from housing abandonment. Further, part of the proposed solutions would also reshape housing development policies and home financing transactions.Originality/valueThe quest for this research demonstrated Islamic banking industry’s initiatives to find lasting solutions to perennial issues of AHPs.
Journal Article
Are Malaysian Islamic banks’ corporate social responsibilities effective? A stakeholders’ view
Purpose
The purpose of this paper is to investigate the effectiveness of Islamic banks’ corporate social responsibility (CSR) using data collected from stakeholders in Malaysia. While Islamic scholars have developed the Islamic CSR from the Qur’anic verses, the Sunnah of the Prophet (SAW) and from the western ideologies, the focus of this paper is to assess the effectiveness of the developed Islamic CSR practices.
Design/methodology/approach
Quantitative research design was adopted for this study. Exploratory factor analysis, confirmatory factor analysis, and other analyses are performed on the data collected from 193 stakeholders in Malaysia.
Findings
Based on the data collected and analyzed, the results show that stakeholders view the Malaysian Islamic banks’ CSRs as effective.
Research limitations/implications
This study investigates the effectiveness of Malaysian Islamic banks’ CSR based on the survey data collected. However, future studies could explore this in greater depth using mixed methods.
Practical implications
The research findings have great implications for researchers. Since this study is among the few research studies that investigate the effectiveness of Islamic CSR, the researchers have paved ways for further investigation in this area. In addition, the study encourages the Malaysian Islamic banks and other Islamic financial institutions to contribute more to the society.
Originality/value
The study examines the effectiveness of Islamic banks’ CSR and contributes to the growing discussions on the Islamic CSR. The study has opened up this area for further investigations by other researchers.
Journal Article
Al-Ma'āLāT Approach in Islamic Finance
The jurisprudence of al-Ma'ālāt is an ancient jurisprudence rooted in Islamic law, and it is concerned with analyzing and taking into consideration the consequences and results people's actions can generate. The Fiqh was used by the Prophet and Sahaba, and it, thereafter, became so famous during the period of Imam Abu Hanifah, the founder of the Hanafi School of Jurisprudence. Fiqh of al-Ma'alat is a great distinctive feature and one of the important jurisprudential aspects of the Hanafi School. The school makes copious use and reference to the theory and practices of al-Ma'ālāt. Where the Hanafi school uses the term \"Ariat i.e., have you pondered if that happened\" and then builds the fatwa ruling based on this future event and also on the expected results of this event. History also mentions Al-Shaṭibī's attempts to draw the attention of the imams of his time to the importance of this jurisprudence through his book Al Muwafaqāt. But despite all the attempts, the writings on it are still few compared to Maqasid Al shariah, and the writings in it in Islamic economics and finance in the English language are almost non-existent, as there is only one source in English according to the researcher's knowledge. Unusually however, this important discipline was not given adequate attention especially by later scholars. Despite its significance. The reasons behind that, as the researcher think due to it is not easy to discover and need deep knowledge and interdisciplinary approach which not easy for each imam to discover or can do it. This article is an attempt to restore interest in it by looking at it through several Islamic, economic and administrative aspects, but to start with this jurisprudence to \"gain an understanding of the existing research and debates relevant to a particular topic or area of study, and to present that knowledge in the form of a written report. You will also gain insight into how researchers apply the concepts you are learning in your unit to real world problems.
Journal Article