Joni Tamkin Borhan

University of Malaya | UM · Academy of Islamic Studies

This study identifiesthe potentials of Shariah non-compliance risk exposures of takaful industry in Malaysia based on previous studies.Besides, this study also examines the areas of expertise of the Shariah Committee ofthe Takaful Operator (TO) in Malaysia with a total of 62 members. Bank Negara Malaysia (2003) requires the expertise and experience...

The purpose of this study is to estimate potential zakah on business collection and to discover zakah gap from public listed companies (PLCs) segment. This quantitative cross-sectional study examines the zakah status of 817 Shariah compliant companies endorsed by Shariah Advisory Council of the Securities Commission (SC). Financial data is obtained...

Abstrak Takaful merupakan alternatif bagi menggantikan insurans konvensional yang telah difatwakan haram. Walaupun umumnya kebanyakan sarjana moden meletakkan konsep tabarru' atau al-iltizām bi al-tabarru' (komitmen untuk saling menderma) sebagai teras kepada amalan takaful, namun ia masih tidak selamat daripada pelbagai kritikan, kerana hadirnya u...

This study seeks to shed light on the issue of conditional hibah, which has been adopted in the Islamic Financial Services Act 2013 (IFSA 2013) and resolved by the Syariah Advisory Council of Bank Negara Malaysia, pertaining to the payment of takaful benefits upon the death of a takaful participant. However, both IFSA 2013 and the resolution by SAC...

Giving to beggars has become a national issue as it gives negative impact to the society especially related to the image of the country and social health. Despite the fact that many attempts have been taken by the authority to curb this problem, the population of beggars are seen to be growing. Thus, this study aims to analyse the behaviour of givi...

Al-Ghazali (1055 till 1111) was a leading thinker who has made several idea related to finance, such as evolutionary theory of money, function of money, the prohibition of money hoarding, currency issues and the roles of government in a monetary system. Furthermore, the use of the currency at present often causes a variety of unhealthy economics si...

Religious coping plays an important role to rehabilitate victims affected by traumatic life events. Islamic teachings emphasizes al-ibtila’ (trial) concept that serves in understanding the concept of qada’ (fate) and qadar (destiny). This study explored al-ibtila’ in coping with traumatic events by achieving sense of personal control in situations...

The article is a research paper, attempts to describe a development of Ahmadiyyah Idrisiyyah Order (ṭarīqah) including its organization with reference to the state of Kelantan. The approach of this study is historical, comparative and critical and its concentrations are as follows: a historical background of the Ahmadiyyah Idrisiyyah Order; the eme...

Nowadays, various Islamic financial products have been developed and have grown tremendously in the financial markets, including Islamic equity, Islamic banking and takaful. The Islamic finance industry has its own uniqueness compared to the conventional financial industry due to the Islamic finance industry has a need for Shariah compliance in Isl...

Trauma is an emotional response resulting from horrifying experience. Natural disasters are one of the events that can trigger trauma. In Malaysia, flood is considered as such natural disaster. The year 2014 has witnessed one of the worst floods in national history. The catastrophic flood does not only cause material losses, but also affect victims...

ABSTRAK Kajian ini bertujuan untuk memahami dengan lebih jelas pelaksanaan pembiayaan semula perumahan berdasarkan kontrak Musharakah Mutanaqisah yang diamalkan di RHB Islamic Bank Berhad (RHBIBB). Objektif di dalam kajian ini adalah tentang konsep dan pelaksanaan pembiayaan semula perumahan yang diamalkan di RHBIBB. Dalam pada itu, terdapat kelebi...

Beberapa isu Syariah muncul ekoran daripada pelaksanaan e-dagang yang mendorong para ahli fiqh kontemporari berusaha melakukan ijtihad bagi merungkai isu-isu tersebut. Antara isu-isu Syariah yang dikenalpasti adalah apakah bentuk kontrak yang berlaku ?, bagaimana status barang jualan ? dan sejauh mana kelayakan pihak yang melakukan kontrak ?. Objek...

Takaful industry in Malaysia has reached about 30 years. Various changes have been made by regulators of Bank Negara Malaysia (BNM) to ensure the strengthening and stability of the takaful industry including Shariah governance-related legislation. Therefore, this paper will describe the implications Takaful Act 1984, Central Bank of Malaysia Act 20...

This paper seeks to explore the patterns of community financial contributions towards the non-profit institutions. In this study, a total of 281 Muslim respondents consisting of civil servants in the four states were involved. Patterns of financial contributions are examined based on five categories: institutions of worship (mosques), religious ins...

As Malaysia aims to becoming as Islamic finance global hub, thus the evaluation to determine global hub country is somehow valuable to bring into a research. Other Islamic finance countries like Saudi Arabia, Qatar, United Arab Emirates and even London, have clearly declared to become as Islamic finance Global hub. The evaluation of Islamic finance...

This study attempts to look upon a development process of global financial center and further, aims to analyze Malaysia's vision in positioning the country as Islamic finance Global Hub. As the financial movement and development take a fast change, it is vital to understand on how the evolution of trade works and transforms from the national level...

This paper will discuss the historical development of establishment of Islamic banking in Malaysia, their operations and application of Islamic Commercial Law's principles in the Malaysian Islamic banking system. This paper will also elaborates the challenges and some issues which are being faced by Malaysian Islamic banking system and its prospect...

The global financial crisis is a blessing to the Islamic banking industry. Crisis that erupted not only be able to put this industry as the focus, but make it a vital alternative to the global financial system. Unique characteristics and resilience of belonging has prompted global financial bodies like the World Bank and the International Monetary...

In this paper, we reviewed previous studies on factors contributing to zakah (alms) compliance behavior among business entities. We first summarized the most relevant studies on zakah compliance and identified the possible determinant factors from 24 studies. Our analysis revealed 24 factors significantly associated with zakah payment. Then, we gro...

Way of life nowadays has changed a lot over the years. Even this borderless world has also brought tremendous changes to the existing banking system. Now, Internet banking is the latest alternative used by the client to deal with the bank. In this way, the customer can surf the bank website without the hassles of queuing and waiting at the counter....

The implementation of home financing in Islamic banking system in Malaysia adapts various forms of Islamic financial instruments. It depends on the requirements and needs of a particular Islamic banks/financial institutions. Among the instruments that widely practiced are Bay'Bithaman Ajil (BBA), Ijarah and others. However, in the recent years, the...

Artikel ini membincangkan mengenai produk simpanan berasaskan ganjaran yang ditawarkan oleh Bank Islam Malaysia Berhad (BIMB) dan Bank Simpanan Nasional Berhad (BSN). Kedua-dua produk simpanan (Al-Awfar dan Sijil Simpanan Premium) yang ditawarkan oleh bank ini menawarkan ganjaran kepada pendeposit iaitu dalam bentuk cabutan bertuah yang akan dilaku...

The objectives of this study are of two fold, first: to examine the profile of successful Muslim entrepreneurs and the information of their entrepreneurial activities, second: to examine the associated factors influencing their success. The successful Muslim entrepreneurs who are beneficiaries of the micro-credit financing from Amanah Ikhtiar Malay...

Two main objectives namely motivate this study: Firstly, to explore the profile of successful entrepreneurs who are recipient of micro credit financing from both Lembaga Zakat Selangor (LZS) and Amanah Ikhtiar Malaysia (AIM). The second objective intends to empirically investigate the possible relationship between the personal religious values and...

The aims of the current paper are twofold: first, to explore the profile of successful microcredit entrepreneurs; second, to examine the key factors contributing to the success. The sample of this study comprises 250 entrepreneurs who joined the scheme of I-Wawasan in Perak. In this study, the total assets owned which is employed to measure success...

Consumerism is one of the aspects that need to be addressed to achieve the goal of becoming a developed country. In conventional economics, consumer behavior refers to how a user allocates an amount of money on various combinations of goods or services in order to maximize their satisfaction. However, Islam as a complete way of life acts to control...

Khadijah Binti Khuwailid is a successful entrepreneur who has a lot of properties, extensive business networks and ample employees. Moreover, she also has noteworthy contributions particularly in the early period of development and spread of Islam and later becomes the inspiration to the Muslims entrepreneurs nowadays. Nevertheless, the significant...

This article attempts to understand the concept of Islamic economic thought according to Syeikh Daud al-Fatani with special attention to the elements of FiqhiConomic. The initial review of this article applies the content analysis method to scrutinize the elements of FiqhiConomic, as discussed in his masterpiece Furu‘ al-Masa’il and specifically in...

Internet banking is the latest alternative used by the client to deal with the bank. In this way, the customer can surf the bank website without the hassles of queuing and waiting at the counter. This study will discuss about Internet banking services in terms of Islamic transaction. Where, study touches on contract applications found in banking se...

This study analyses the effect of bank specifications, changes in monetary policy and economic environment in Malaysia on Islamic banking behaviour in offering financing. In theory, any change that occurred in the above indications will influence financial authorities, especially bank management, to make modifications in the financing offered by re...

Dakwah adalah usaha mengajak manusia kepada Islam yang dilaksanakan melalui kaedah yang pelbagai. Kini, industri perbankan Islam dilihat boleh menjadi antara medium terbaik yang berkesan dalam dakwah. Menggunakan kaedah perbandingan, makalah ini menonjolkan kelebihan dan kekuatan sistem perbankan Islam berbanding sistem konvensional dalam memanifes...

Sheikh Daud bin ‘Abdullah al-Fatani (1131-1265AH/1718-1847AD) is one of the prominent Malay Islamic Scholar that emerged during the transition period of the eighteenth and nineteenth century. He is well known as a productive and prolific scholar that can be observed in many aspects. Therefore, this article attempts to analyze his opinions towards t...

Krisis kewangan global yang melanda dunia secara tidak sedar merupakan rahmat kepada perbankan Islam dan telah meletakkan perbankan Islam sebagai tumpuan dan alternatif penting kepada perbankan konvensional. Kekuatan intrinsik dan daya tahan yang dimiliki yang berjaya ditonjolkan bukan sekadar memberikan impak terhad dan minimum pada perbankan Isla...

This article attempts to understand the concept of Islamic economic thought according to Syeikh Daud al-Fatani with special attention to the elements of FiqhiConomic. The initial review of this article applies the content analysis method to scrutinize the elements of FiqhiConomic, as discussed in his masterpiece Furu‘ al-Masa’il and specifically in...

Sheikh Daud bin ' Abdullah al-Fatani (1131-1265AH/1718-1847CE) is a Ma-lay scholar who appears on the transition period to 18M and 19M century. He was known as a productive scholar and prolifi c book, which can be viewed from various aspects. Th erefore, this article attempts to analyze his views on aspects of production as discussed in his masterp...

Profit is a crucial element in business organizations or institutions involved in the business. Any institution or business organization will not survive if the goal of making profits is not emphasized or ignored. Article will discuss some theoretical profit from the point of definition, concept, theoretical development which includes several stage...

Banking institutions in Malaysia consists of two categories, the full-fledge Islamic banks and interest-free banking scheme. Banks offering Islamic products that are purely local and some from outside, such as Citibank (Malaysia). This research discuses the concept of Musharakah Mutanaqisah in Islamic transaction and its application in the home fin...

After using the contract of bay bithaman ajil (BBA) in financing products for a long time particularly home financing, Islamic banks in Malaysia has moved from a single contract to a hybrid instrument, from the debt financing to the form of equity financing. Through the debt financing, the customers are seen less supported and aided, and they are b...

Capital is very crucial in the formation and establishment of business activities especially for entrepreneurs who newly venture into the business world. Currently, banking and financial institutions play significant roles in fulfilling the need of these entrepreneurs. However, for new entrepreneurs, the failure to meet the requirements needed by f...

Sistem pengurusan risiko yang cekap dan berkesan merupakan teras disiplin yang perlu dipegang oleh semua institusi perbankan khususnya perbankan Islam bagi memastikan pertumbuhan berterusan di samping mewujudkan persekitaran kewangan yang sihat. Hal ini kerana faktor risiko merupakan elemen penting yang memberikan kesan langsung dan tidak langsung...

Sistem pengurusan risiko yang cekap dan berkesan merupakan teras disiplin yang perlu dipegang oleh semua institusi perbankan khususnya perbankan Islam bagi memastikan pertumbuhan berterusan di samping mewujudkan persekitaran kewangan yang sihat. Hal ini kerana faktor risiko merupakan elemen penting yang memberikan kesan langsung dan tidak langsung...

Konsep tanggungjawab sosial korporat (CSR) mula diperkatakan apabila Henry Ford mengenengahkan idea " perniagaan adalah perkhidmatan'. Namun masyarakat ketika itu menolak sama sekali idea tersebut dan tetap mempertahankan matlamat utama perniagaan iaitu untuk memperoleh keuntungan maksimum. Hanya beberapa dekad kemudian, barulah idea ini mula berca...

This article examines the concept of agriculture and agribusiness from the spirit of al-Qur´an and al-Sunnah. Thus, this article will be divided into two sections. The first section begins with the exploration of agriculture, whilst the second section in this article will discuss the advantage of participating in agribusiness. The methodology of st...

This article explains the concept of agriculture in Islam and its contributions towards human and Muslim ummah from the perspective of Islamic economics. This article is divided into four sections namely agriculture in Islam, concept of an idle land, definitions of an idle land from four famous schools of Islamic jurisprudence as well as the contri...

International business transaction deals in differently from the local or domestic business trading. In the international business transaction, Muslim ummah transacts with non-Muslims all over the world. Therefore, this article tries to explain the business relationship between Muslim and non- Muslims, the types of non-Muslims from the perspective...

Islamic stock market (ISM) is one of the most important components in the Islamic capital market (ICM). In making ISM more competitive, Syariah Advisory Committee of Security Commission has introduced the listing of Syariah approved counter/stock based on the primary sources (al-Quran & al-Sunnah) and other supporting sources with agreed research m...

The economic system of Islam is the economic system based on monotheism and superior compared with conventional systems such as the capitalist economy. All transactions in the Islamic economic system based on justice and reject all forms of oppression and exploitation like usury. Instead the capitalist economic system makes the practice of usury as...

The emergence of corporate social responsibility (CSR) that has been developed since 1960 in western countries has surge an interest in developing countries including Malaysia. The changes in society social values has lead to this new interest. CSR has become an important idea since the corporate growth and development is not only depend on corpora...

Pembangunan merupakan konsep yang multi-dimensi dan komprehensif mengandungi persoalan ekonomi dan bukan ekonomi. Pembangunan ekonomi adalah salah satu komponen penting dalam konsep pembangunan yang komprehensif. Ia juga merangkumi aspek-aspek yang boleh diukur dan tidak boleh diukur. Manakala konsep pembangunan ekonomi dalam Islam mengandungi nila...

This article analyses the thought of Ibn Rushd, a great faqih and thinker of Andalusia in Islamic transactions with special reference to the doctrine of al-mudarabah as found in his Kitab Bidayah al-Mujtahid wa Nihayah al-Muqtasid. His analysis in al-Mudarabah (al-Qirad) contract is still relevant to the contemporary practice of Malaysian Islamic b...

This article explains about the contribution and economic thought of Ibn Qayyim al-Jawziyyah, a great Muslim thinker in the 13/14th century. His contributions and thought were about the principles of Islamic economics, concept of riches and poverty, economic of zakat, concept of interest, marketing mechanism and price regulation. His thought in eco...

At the time of the dawn of Islam, women all over the world were degraded, subjected and without any rights and some of them were considered as men-entities. Since the beginning of the industrial revolution, they have been asserting their rights in the Western countries and have been given certain political and economic rights. But more than fourtee...

Penulisan ini meninjau mengenai peranan Lembaga Tabung Haji sebagai bank dan penggerak dana daripada orang ramai khususnya orang-orang Islam yang hendak menunaikan Haji ke Makkah dan menggerakkan dana tersebut kepada para pelabur dalam pelbagai bidang untuk mendapatkan pulangan yang menguntungkan berasaskan kepada prinsip-prinsip Shari 'ah dari tah...

Abstrakengan riba seperti isu kadar riba yang berlipat kali ganda, ribd al-nasl'ah dan ribd al-fadl, ribd pada pinjaman penggunaan bukan pada pinjaman pelaburan dan sebagainya.

Mutjarabah ialah akad perkongsian di antara pihak yang mempunyai modal dengan pihak usahawan. Dalam akad ini, pihak pemodal atau pelabur akan menyerahkan modal kepada usahawan untuk menjalankan sesuatu perniagaan yang mendatangkan keuntungan dan dia tidak akan terlibat dalam urusan perniagaan itu. Keuntungan dalam perniagaan akan diagihkan antara k...

Amalan insurans bukanlah satu perkara yang baru dalam sejarah ketamadunan manusia. la telah wujud semenjak zaman Babylon di Mesopotamia lagi yang bertujuan untuk melindungi harta persendirian, hartanah, perdagangan dan hal ehwal keluarga. Begitu juga dengan konsep dan amalan takaful sebagai sistem insurans Islam yang telah diamalkan oleh umat Islam...

Artikel ini membincangkan mengenai prinsip-prinsip perbankan Islam yang berasaskan kepada al-Qur'an al-Karim. Para sarjana Islam telah meletakkan dua prinsip yang awal iaitu konsep Allah sebagai pemilik yang mutlak terhadap semua yang ada di alam ini dan konsep manusia selaku khalifah di muka bumi ini dalam hubungannya dengan pemilik sebenar dan al...

Tanggungjawab pihak pemerintahan dalam ekonomi menurut perspektif Is lam adalah bersifat semulajadi, tetap dan berkekalan. Berbeza dengan tanggungjawab pemerintah menurut perspektif ekonomi konvensional yang bersifat bermusim, bergantung kepada keadaan dan keperluan, pemerintah dalam negara Islam bertanggungjawab mewujudkan negara kebajikan untuk m...

This anicle explains the role that monetary policy should be designed to play in an Islamic economy and to highlight how it can be made to play its role effectively if interest is abolished. This anicle also discussess the mechanism for equating the supply of money with its demand in the ab~ sence of interest as a regulating mechanism and the feasi...

This article discusses about Syeikh Daud bin 'Abdullah al-Fatani a great faqih and thinker of the Malay archipelago and his contribution to Islamic transactions. He wrote a number offiqh books which cover a variety of topics on Islamic transactions. In his works, Furu' al-Masd'il, Syeikh Daud explained some aspects of the principles of Islamic bank...

The methodology of Economics discussed by the economists covers the topics of positive vs. normative, inductive vs. deductive, incorporation vs. exclusion of values, prescription vs. description, apriorism vs. empriricism, etc. This article discusses in broad terms the methodology of Islamic Economics and to show its differences from the methodolog...

This article will discuss the doctrine of ai-bay ' bithaman ajil in Islamic Commercial Law as have been developed by Fuqaha' and Muslim Economists in their works and its application in the usage of Islamic credit card as offered by Arab-Malaysian Bank Berhad.

Globalization has become the defining process of the present age. The most important aspects of economic globalization are the breaking down of national economic barriers, the international spread of trade, the financial and production activities, and the growing power of transnational corporations and international financial in stitutions in the p...

Islamic banking is the conduct of banking operations in line with Islamic principles ofmu'dmaldt. The main principles of Islamic banking activities comprise of prohibition ofriba in all forms of transactions, undertaking business and trade activities on the basis ofprofit sharing and for the benefit of society and development of all halal aspects o...

This article discusses the historical development of Islamic Banking System in Malaysia followed by the establishment of the interest-free banking schemes, the principles ofprofit and loss sharing and the operation of Malaysian Islamic banking system based on the Syari'ah Principles of Fiqh Mu 'dmaldt.

This article discusses critically the contribution of Ibn Khaldun, one of the strongest personalities ofArabo-Mus-lim culture, to Islamic economic thoughts and its re levance to the contemporary problems of modern eco nomics. The topics that will be discussed include a short biography of Ibn Khaldun, economic philosophy, theories ofproduction, divi...

Artikel ini membincangkan lapan prinsip-prinsip asas falsafah ekonomi perbankan Islam yang berasaskan Tauhid. Para sarjana Islam telah meletakkan dua prinsip yang awal iaitu konsep Allah sebagai pemilik yang mutlak terhadap semua yang ada di alam ini dan konsep manusia selaku khalifah di muka bumi ini dalam hubungannya dengan pemilik sebenar dan al...

Islamic banking is generally defined as the conduct of banking opera tions in consonance with Islamic principles of Mu'dmaldt. The emer gence of interest-free financial institutions, especially in predomi nantly Muslim countries, has added a new dimension to economic models. These Islamic banks have organised financial intermediaries which operate...

Pemikiran ekonomi Islam dalam pelbagai bidang yang berasaskan kepada al-Qur'dn dan al-Hadfth telah dikembangkan oleh para sarjana Islam melalui penulisan-penulisan mereka sejak beberapa period masa tertentu hingga sekarang. Artikel ini membincangkan sumbangan beberapa orang tokoh pemikir Islam dalam ekonomi Is lam seperti percukaian, penggunaan, pe...

Islam ialah satu cara hidup untuk semua manusia yang diasaskan kepada peraturan-peraturan Ilahi termasuk sistem akhlaknya. Sistem akhlak Islam merangkumi semua aspek kehidupan manusia. la tidak sahaja menjelaskan asas-asas dan prinsip-prinsip umum akhlak untuk semua manusia, tetapi juga menggariskan panduan-panduan akhlak untuk setiap aspek aktivit...