Aznan Hasan

Aznan Hasan
International Islamic University Malaysia | iium · Institute of Islamic Banking and Finance (IIiBF)

About

43
Publications
37,254
Reads
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174
Citations
Citations since 2016
29 Research Items
164 Citations
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201620172018201920202021202201020304050
201620172018201920202021202201020304050
201620172018201920202021202201020304050
Introduction

Publications

Publications (43)
Article
Full-text available
The primary objective of this study is to investigate the views of zakat professionals on the factors affecting the performance of zakat administration in Malaysia. This study started with library research to critically review previous literature on zakat administration, followed by the analytical hierarchy process (AHP). This study finds that the...
Article
Full-text available
Harnessing a sustainable waqf model remains as the key challenge faced by waqf managers particularly in the mid of socio-economic crisis post-COVID-19 pandemic. This paper aims to present the viability of unit trust waqf as an alternative asset for waqf creation. This study employed a qualitative research design using document analysis of classical...
Article
Full-text available
This paper examines the potential factors influencing the intention to adopt the Banks eKYC system during the spread of COVID-19 and related government lockdowns based on the Technology Acceptance Model. The structural equation modelling methodology used to analyze the data. TAM was expanded in this research to include other factors such as Privac...
Article
Ar-Rahnu merupakan satu konsep pajak gadai yang berteraskan prinsip-prinsip Sharī‘ah. Berlainan dengan amalan pajak gadai konvensional (PGK), Ar-Rahnu menitikberatkan amalan pajak gadai yang bebas daripada elemen-elemen yang dilarang oleh Sharī‘ah seperti ribā dan gharar. Berdasarkan keadaan semasa di Malaysia, kajian ini ditulis untuk mengh...
Article
Full-text available
The study has two main objectives: firstly, to examine the opportunity of the Momentum and Contrarian investment strategy for three different monetary systems to trade currencies in Forex markets using Symlet wavelet decomposition approach. Secondly, to examine the co-movements between the three monetary systems using wavelet coherence analysis. Th...
Chapter
Full-text available
Shari’a compliance remains one of the main features in all the products and services offered by Islamic banking institutions. Muftī Taqi Usmani (b. 1943) is a world-renowned figure in Islamic banking due to his crucial position as Chairman of the Shari’ah Board (Bahrain). He has contributed to Islamic banking through his advanced writings and addre...
Article
Full-text available
Harnessing a sustainable model of waqf remains as the key challenge faced by waqf managers, particularly in the mid of socio-economic crisis due to the COVID-19 pandemic. The aim of this paper is to discuss and propose the potential viability of waqf unit trust as a form of an alternative asset for the purpose of waqf creation. The current study em...
Conference Paper
Full-text available
This paper aims to present the viability of unit trust waqf as an alternative asset class for waqf creation. The paper provides the conceptual framework of unit trust waqf based on the existing fixed unit trusts structure managed under Permodalan Nasional Berhad (PNB). This paper starts with the conceptual exploration of the literature in the area...
Article
Full-text available
يعتبر كتاب صحيح البخاري من أرفع الكتب منزلةً لدى المسلمين بعد القرآن الكريم. إلى يومنا هذا، توجد ترجمة واحدة باللغة الإنجليزية للكتاب التي قام بها الدكتور محمد محسن خان. هذه الدراسة تهدف إلى النظر في مدى صحة ترجمة الأجزاء المختارة من خلال دراسة البحث النوعي والمقارن. تم تقسيم الدارسة إلى ٦ أجزاء: أولاً التعريف بالجامع الصحيح، ومختصره، وثانياً: التع...
Conference Paper
Full-text available
Many financial institutions understood that using the LIBOR index in evaluating assets and contracts in financial markets will not achieve financial stability, as the introduction of the LIBOR interest rate has triggered many financial crises. This was due to the manipulation of LIBOR prices , particularly during 2007-2009, as well as the 2012 pric...
Article
Full-text available
This paper sought to assess the Malaysian experience in dealing with the conflicts between applicable laws and Shari'ah standards. Adopting the methodology of qualitative document analysis, it has identified three main approaches adopted globally in dealing with the aforementioned problem. The paper studied the evolution of Malaysian legal structur...
Article
Full-text available
Purpose - This paper aims to examine the current practice in Singapore regarding an inheritance issue: disposal of the residual net estate to the bayt al-mal, which is identified as the Islamic Religious Council of Singapore (Majlis Ugama Islam Singapura, MUIS). The issue arises when the deceased leaves fard (fixed-share) heir(s) and/or dhawū al-ar...
Article
Purpose This paper aims to present the viability of unit trust waqf (Islamic endowment) as an alternative asset class for waqf creation. Design/methodology/approach This paper starts with the conceptual exploration of the literature in the areas of waqf. The sources of the literature cover authentic sources of the Qurʾān and ḥadīth , as well as se...
Article
Full-text available
Purpose The purpose of this study is to propose a contemporary human resource management (HRM) framework by zakat institutions, which collect and manage religious alms, both obligatory (zakah) and voluntary (sadaqah), in Malaysia. Design/methodology/approach In doing so, discussions pertaining to the key elements of zakat institutions’ HRM inclu...
Research
Rescheduling and restructuring of financing facilities are important aspects of financial systems including Islamic financial institutions. The purpose of these exercises varies. The most common is to relieve a customer’s financial distress, but another is to allow a customer to benefit from certain market movements, and there can be other motives...
Article
Full-text available
Purpose The purpose of this study is to provide a critical review on how the Khazanah’s Sukuk Ihsan was structured in compliance with the requirements for issuance of Sustainable and Responsible Investment (SRI) sukuk set by the Securities Commission (SC) Malaysia. Design/methodology/approach To explain the structures and features of the Sukuk I...
Article
This paper discusses the issue of treatment of debt defaulters from Sharʑah perspective and its current practices in Islamic banking and finance. In doing so, the paper first explains the concept of debt and its payment obligation from Islamic point of view. The paper also critically reviews the current practice of treating defaulters by Islamic b...
Article
Full-text available
In Malaysia, the appointment of members to the Shariah Advisory Council (SAC) of the Central Bank of Malaysia (CBM) is prescribed by the Central Bank of Malaysia Act 2009 (Act 701). The Act stipulates the provisions pertaining to the eligible persons to be appointed to the SAC, procedures, terms and conditions of appointment and also remuneration a...
Article
Full-text available
The purpose of this paper is to discuss the issues and challenges of liquidity risk management in Islamic banks. At the same time, the authors are going to identify the sources of liquidity risk in Islamic banks and the common instruments used to mitigate liquidity mismatches in both sides of their balance sheets. The study is a qualitative study t...
Article
From a Shari’ah perspective, no essential difference is noticed between public welfare waqf and a waqf created for the benefit of individuals such as descendants and family of a person, and both are treated as recommended avenues for voluntary gratuitous transfer of benefits. Over the centuries, family awqaf have degenerated due to various social a...
Article
Full-text available
This paper advocates a holistic Shariah adaptation of the modus operandi (operational model) of the Islamic interbank money market. It presents the reasons for the need for the substitution of the conventional methods of 'tendering', 'auction' and brokerage procedures in the market with the Shariah compliant methods of 'al-Munaqasah,' 'al-Muzayadah...
Chapter
Full-text available
This chapter discusses the Islamic interbank money market, its instruments and operations. The discussion demonstrates that the existence of a viable Islamic interbank money market is crucial for the successful implementation of an Islamic financial system. The chapter examines the various interbank money market instruments, their underlying Islami...
Chapter
Full-text available
This chapter discusses the Islamic interbank money market, its instruments and operations. The discussion demonstrates that the existence of a viable Islamic interbank money market is crucial for the successful implementation of Islamic financial system. The chapter examines the various interbank money market instruments, their underlying Islamic c...
Article
Full-text available
The absence of an effective framework for the regulation of Islamic money market in many jurisdictions is inhibiting the growth of the Islamic finance. This study aims to suggest a way out of the logjam. It appraises the regulatory framework of the Malaysian Islamic Money Market which is believed to be the most developed in the world. The fabric of...
Article
Developing modern Islamic financial products can be very challenging due to a number of constraints from different aspects, including the formation of regulatory, taxation and economic frameworks that are based on conventional principles. Much emphasis was given to replication of conventional instruments by restructuring conventional financial prod...
Article
Full-text available
The primary objective of this paper is to explore the potential of Islamic Real Estate Investment Trusts (I-REITs) as an effective instrument for financing waqf development activities. This study employs legal research methodology, (the data used were largely library-based and documentary in nature), in which opinions of jurists, classical and cont...
Article
This study examines the concept of corporate governance in shareholding companies and the legal perspective in comparison with the position of Shari’ah. The purpose of governance is to instil confidence among the stakeholders that the Boards of Directors are applying a diligent legal and administrative framework, to avoid potential administrative a...
Article
Full-text available
One of the major potential challenges before the nascent non-interest (Islamic) banking product in Nigeria is the absence of adequate and viable Shariah-compliant instruments of liquidity management. The availability of the instrument is a sine qua non in the banking system. Conversely, Malaysia being the global hub of the Islamic banking and finan...
Article
Full-text available
One of the major challenges before the emerging Islamic financial Institutions is the dearth of Shariah compliant money market platform for the management of their liquidity. However, a viable panacea to the problem has been developed in Malaysia. One of the measures that were taken for the solving of the problem in the country was the creation of...
Article
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The Shari’ah governance is unique for Islamic financial institutions (IFIs), as it ensures that all activities of IFIs are in accordance with Shari’ah principles. At present, practices of Shari’ah governance in Islamic financial services industry vary from one jurisdiction to another. Nevertheless, three main Shari’ah governance models can be disti...
Article
This paper discusses short-selling and its implication in Islamic capital markets as this has always been a subject of debate. The practice of short-selling in capital markets is considered a tool for providing liquidity and better price discovery to the traders. The use of short-selling in Islamic capital markets is objectionable. The factors that...
Article
This article attempts at exploring various Sharīʿah issues related to the practice of takāful, retakāful, insurance and reinsurance and interaction between them in the practice of retakāful. It explores the practice of retakāful and its importance in modern takāful. The paper discusses the ruling disallowing takāful companies to cede part of their...
Article
Full-text available
Build Operate Transfer (BOT) is a kind of legal mechanism of privatisation. It is a business venture between the government and the concessionaire, with the ownership of the project asset transferred to the government at the end of the concession period. In Malaysia, a decade after the beginning of privatisation was marked by the emergence of capit...
Article
This article explores the concept of collective ijtihad as a means of determining new judicial judgments. Accordingly, it analyzes the theoretical framework of this kind of ijtihad and its application by discussing the various institutions that practice it. In general, this article seeks to present this as a practical mechanism for ascertaining the...
Article
This article explores the concept of collective ijtihad as a means of determining new judicial judgments. Accordingly, it analyzes the theoretical framework of this kind of ijtihad and its application by discussing the various institutions that practice it. In general, this article seeks to present this as a practical mechanism for ascertaining the...

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