Muhammad Ali

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• PhD Finance
• Senior Lecturer at Taylor's University

This book explores the various topics that create the intersection between three key areas of Islamic finance, corporate governance, and sustainable growth. The intersection between these areas develops a useful understanding of how Islamic finance and corporate governance is an essential aspect of sustainable growth. The book sheds light on the ro...

This chapter is written to understand the mechanism of corporate governance for Islamic microfinance institutions. However, there is a lack of studies that are focused on governance mechanism of Islamic microfinance institutions. Therefore, this study is developed by combining various parameters and elements associated with corporate governance fro...

This chapter delves into the governance of Islamic fintech, examining how modern technology and traditional Islamic finance principles interact. It provides an overview of how Islamic fintech has evolved, highlighting the differences between Islamic and conventional fintech and discussing the roles of key players such as startups, financial institu...

This chapter aims to explore the intricate relationship between Islamic finance and corporate governance through the lens of Sukuk, a cornerstone of Shariah-compliant financial instruments. The primary objective is to provide a comprehensive understanding of Sukuk, delving into their structure, principles, and the unique characteristics that distin...

This chapter explores the governance and sustainable practices in Takaful, an Islamic insurance system based on principles of mutual cooperation and risk-sharing. It provides a comprehensive overview of Takaful’s historical development, its distinct models Mudharabah, Wakalah, and Waqf and how they compare to conventional insurance. The chapter hig...

This chapter explains the concepts of zakat and corporate social responsibility (CSR) to enhance the understanding of the two concepts in society. In Islam, the zakat is considered a religious obligation, which is further connected with CSR and societal well-being. It offers various benefits to society such as economic empowerment, poverty reductio...

Purpose Investments in environmental, social and governance (ESG) issues have a big impact on how much sustainable development efforts are made by businesses. This study analyzed the Scopus database contains information from 429 research papers published in 133 journals between 2010 and June 2023. Design/methodology/approach The current state and...

The financial industry is becoming more intelligent and digital, and the adoption of new technologies is promoting financial innovation while making financial security subject to disruption. Internet finance, as a product of the rapid development of information technology and the financial industry, has ushered in major changes in the development o...

Purpose Financial literacy, capability and behavior are crucial factors in personal financial management, which in turn plays a significant role in individual and societal financial well-being. The objective of this investigation is to explain critical factors and dimensions of personal financial management systems by employing a hybrid approach th...

Purpose As the competition to retain current and attract new mobile payment app users intensifies, meeting users’ needs has become fundamental for mobile payment app service providers to stay competitive. This study aims to investigate the relationship between users’ needs, users’ attitude towards mobile payment apps and users’ continuance intentio...

This study explores relevant studies on Islamic insurance, including key themes, research areas, and research objectives. This study lays foundation for understanding the current status and trends in Islamic insurance research by systematically collecting, organizing and analyzing relevant literature. This study combines systematic literature revie...

The chapter aims to study consumer perceptions and preferences toward socially responsible investments (SRIs) offered by the financial institutions from nine major cities in Germany based on perceived religiosity, age, and educational level. Analysis of variance and principal component analysis of a sample of 342 respondents in the 18-60 age group...

Entrepreneurship and Green Finance Practices focuses on critical issues such as the role of Green Financing in Green Entrepreneurship in Asian Countries and looks for the mechanisms that can help in idea-generation and the launching of successful Green Start-ups.

This research aims to understand the influence of behavioural factors on investment decisions in the Pakistan Stock Exchange (PSX). This study gathered primary data using a survey-based questionnaire from 318 individual investors. The issue being investigated in this study is how behavioural elements, such as sentiment, overconfidence, over- and un...

Financial inclusion and financial exclusion sometimes have been interchanged to describe the phenomena of people’s ability to obtain effective and inexpensive financial products and services that match their demands. Countries move towards promoting new business models, which include utilizing e-commerce data for financial inclusion. Financial incl...

This research study investigates the factors affecting export instability in Pakistan by using time-series data from 1981 to 2017. The determining factors of export instability in this study are commodity concentration index, geographical concentration index, food ratio, export earnings and total export quantity. The study employs Autoregressive Di...

The aim of this study is to examine the effect of green investments on air quality for developed and developing European countries. In this context, the short- and long-term effects of green investments on air quality were examined by panel generalized method of moments (GMM) and panel causality method. As a result of the GMM analysis, it has been...

This research investigates the factors affecting the internet giving behaviour among young graduates in Malaysia. The Theory of Planned Behaviour (TPB) was employed as a baseline theory to examine the effects of altruism, attitude, subjective norm, and perceived behavioural control. The analysis was based on 230 respondents surveyed and the results...

Purpose The purpose of this study is twofold. First, this research explores the level of Islamic financial literacy of customers in the context of Islamic banking. Second, this study examines the determinants of customer adoption of Islamic banking in Turkey. Design/methodology/approach This study gathered sample data from 409 participants determi...

Purpose This study aims to examine the interconnectedness between investors' perceptions of assets and their behavioral factors with investment decisions during the COVID-19 pandemic in the real estate business in Pakistan. In this regard, this study predicted investment decisions using individuals’ perceptions of the asset (perceived asset quality...

As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent , environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability...

As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent, environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability o...

The research aims to investigate the impact of theoretical drivers, facilitators, and barriers on the intention to adopt m-payment. It further examines the impact of the intention to adopt m-payment on usage behavior. Partial least squares structural equation modeling was used based on a suitable sample of 408 participants in Karachi, Pakistan. The...

Purpose The objective is to assess the relationship between financial inclusion and bank profitability in emerging economies, i.e. “Bangladesh, Egypt, Indonesia, Mexico, Nigeria, Pakistan, Philippines, and Vietnam”. Design/methodology/approach The second-generation econometrics of panel data has been applied to examine the cross-section independen...

As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent, environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability o...

A large part of the energy supply required for production in the world consists of non-renewable energy sources such as coal, oil, and natural gas. Due to the serious increases in these energy sources in the world, countries facing the threat of climate change and increasing global warming have had to direct their energy policies to reduce carbon e...

Purpose This study aims to investigate two primary objectives. First, this study examines the influence of modified service quality dimensions on Islamic bank customer satisfaction using a compliance, reliability, empathy, assurance, tangible, operational efficiency, responsiveness (CREATOR) model. Second, the study explores the relationship betwee...

This study is aimed at explaining the factors determining consumer acceptance of online Islamic fixed deposit accounts. Besides, the mediating role of attitude is also examined. Considering the Technology Acceptance Model (TAM), this study evaluates the impacts of perceived usefulness, perceived ease of use along with attitude on consumer acceptanc...

Purpose This research investigates the relationship between e-learning service quality dimensions, student e-learning satisfaction, commitment and behaviour towards finance courses in higher education institutes of Pakistan. Design/methodology/approach Due to specific study objectives, the authors gathered sample data of 359 university students wh...

Purpose In spite of the increasing number of Islamic banks offering Islamic investment products, there is, as yet, little academic research on this topic and the consumer acceptance of the products is not yet understood fully. To help in bridging this gap, this study aims to assess the determinants of choice behaviour of Islamic investment products...

Purpose This study aims to examine the impact of stakeholder pressure on Islamic banks’ corporate social responsibility (CSR) practices and financial performance. Design/methodology/approach A close-ended questionnaire was collected from 282 Islamic bank’s branch managers. Partial least square structural equation modeling was used to test the hypo...

The present study is the first attempt in Pakistan to examine the determinants of Islamic personal financing by using a modified theory of reasoned action (TRA) model. This study uses the two primary constructs of the TRA model: subjective norm and attitude. Additionally, this study modified this model by introducing three relevant factors: pricing...

This research aims to propose extension of existing asset pricing models by including distress risk anomaly to enhance their predictive ability. It explores in detail the shortcomings of existing asset pricing models and deviation between theoretical and empirical evidences. The limitations of Capital Asset Pricing Model (CAPM) lead to the developm...

The present study examines the factors affecting customer intention to use auto financing (Ijarah) in Pakistan. The research framework is constructed based on the theory of reasoned action, which explains behavioral intention and its determinants. The study incorporates the participation of 350 potential customers of auto Ijarah in Pakistan. Data a...

In the recent era, gold is considered an essential investment source, a source of hedging inflation, and a medium of monetary exchange. The gold and exchange rate nexus become prominent after events like sovereign debt crisis, subprime mortgage crisis, low-interest rate problem, and global financial market solvency. These events attract the attenti...

Relatively, maqasid al-Shariah is a missing dimension element in the available tawarruq personal financing, resulting in a convergence of this facility and its traditional counterpart. This work examines the consumer preference of tawarruq personal financing using the maqasid-based consumer preference index (MCPi). Drawing upon the MCPi, the presen...

Purpose The role of green human resource management in Islamic banking remains relatively unexplored. This study focuses on how green human resource management plays a part using intellectual capital and how green human resource improves employee commitment, eco-friendly behavior and environmental performance in Islamic banks. Design/methodology/a...

Purpose This research aims to explain the effect of financial indicators and economic growth on human capital in low-income countries. Design/methodology/approach We gathered balanced panel data from 1980 to 2016 over a sample of 12 low-income countries categorized by World Development Indicators. The data stationary properties were analyzed by un...

Business sustainability within the economic system has been a great interest of policymakers. There are several dimensions to measure the economic performance of a nation. It is not easy to understand the growth process of countries without knowing new factors that emerged within the financial system. In today’s dynamic environment, there is a need...

The transformation of the economy from manufacturing to knowledge has relegated the importance of capital assets and brought intellectual capital to the fore. With this change, the firms must understand how they can better utilize their intellectual capital. This chapter has attempted to divulge the role of leadership in developing intellectual cap...

Purpose This study’s objectives are twofold; first, this paper aims to explore the determinants of perceived benefit and perceived risk of Islamic Fintech. Second, this study examines the influence of perceived benefit, perceived risk and user trust on the intention to adopt Islamic Fintech. Design/methodology/approach The sample of 350 was distri...

Purpose This study investigated the influence of students' conceptions of feedback (ScoF) dimensions on academic self-efficacy (SE) and self-regulation (SRG). Design/methodology/approach The study employed the partial least squares structural equation modeling (PLS-SEM) approach on a sample data of 528 students from ten different universities of K...

Purpose This study aims to examine the relationship between e-government and corruption in selected South Asian countries (Pakistan, India, Bangladesh and Sri Lanka). Design/methodology/approach The sample data were gathered from reliable secondary sources over a sample period of 2003–2018. Additionally, this study incorporated other potential det...

The contemporary business environment has superseded the retail and industrial economy due to the information-age economy's existence. The combination of knowledge and information provide practical benefits to the technology-driven and knowledge-intensive businesses. In this context, the firms heavily rely on efficient management practices such as...

This study aims to explore the relationship of environmental degradation with economic growth and energy innovation by utilizing the panel data of 33 European countries by covering the period of 1996 to 2017. We use the cross-sections independence and control the heterogeneity between cross-sections by using the second-generation econometric of pan...

This study aims to investigate the impact of bank-specific factors and macroeconomic environment on bank profitability and management efficiency in Pakistan. The sample data comprised of 24 banks over a sample period of 2007-2015. The panel least squares regression with a fixed effect model suggests that bank profitability is significantly affected...

Purpose The role of insurance is a backbone for consumers to secure their future. It is important to know where to invest and what are the benefits. Therefore, for the Muslim segment, Islamic insurance system provides Riba (interest)-free environment where consumers invest their money and recover their losses according to sharia. This paper aims to...

Purpose Local foods from the perspective of tourism play a significant role to attract tourists. Surprisingly, empirical evidence on food tourism is quite scarce. The purpose of this paper is to develop and investigate a conceptual framework on tourist satisfaction, loyalty and word of mouth (WOM) to select local foods in Pakistan. Design/methodol...

Purpose The purpose of this paper is to determine the factors influencing customer adoption toward takaful products in Pakistan. Design/methodology/approach The study used five attributes of diffusion innovation theory (DOI), namely, relative advantage, compatibility, trialability, observability and complexity. Furthermore, the authors introduced...

Purpose The purpose of this study is to examine the effect of foreign aid (FA) on corruption in selected Asian countries (Pakistan, India, Srilanka and Bangladesh) using the panel data from 2000 to 2014. Design/methodology/approach The author used Levin-Lin-Chu and Im-Pesaran-Shin panel unit root tests to check the stationary properties of the var...

Purpose This paper aims to explore the impact of liquidity risk, credit risk, funding risk and corruption on bank stability of the banking system in Pakistan. Design/methodology/approach The empirical analysis is confined to 24 retail banks, which include 5 Islamic and 19 conventional banks during the period of 2007-2015. Findings The findings of...

Purpose The purpose of this study is to examine the factors which affect mobile banking (M-banking) acceptance in Islamic banks of Pakistan by using the modified unified theory of acceptance and use of technology (UTAUT) model. The performance expectancy, facilitating conditions, social influence, effort expectancy, perceived value, habit and hedon...

Purpose The purpose of this study is to examine the internal determinants of bank profitability and stability in Pakistan banking sector. Because of specific research objectives, this study excludes the external factors of profitability and stability to find the role of bank internal determinants in achieving high performance. Design/methodology/...

The purpose of this research is to address the two important questions. Does bank size effect bank stability? Does funding risk explain bank stability? For this purpose, we have obtained a balanced panel data from the banking sector of Pakistan. The sample data consist over five Islamic and nineteen conventional banks from 2007 to 2015. The results...

Transformational leadership is important for enhancing organizational performance. An inspiring leader positively infl uences employee confi dence, attitude and self-esteem Therefore, this study aims to measure the association between self-esteem, transformational leadership and innovative success in the presence of aff ective and normative commitm...

Purpose This study examined the acceptance of university students toward the e-learning system in Pakistan. A Web-based learning system is a new form of utilizing the features of the technology. Although, developed countries have initiated and established the concept for e-learning. However, the developing countries required some empirical support...

Purpose This study aims to investigate the factors that determine the customer adoption of Islamic banking in Pakistan. Design/methodology/approach This paper aims to use a sample of 540 Islamic bank customers located in the biggest city of Pakistan (Karachi). This study is based on the diffusion of innovation (DOI) theory and analyzed the role...

The present study attempts to examine the Islamic home financing using the modified theory of planned behavior model (TPB). Sample data of 375 are conveniently drawn from walk-in customers of Islamic banks located in the biggest city Karachi. This study employed both exploratory factor analysis and confirmatory factor analysis to confirm the validi...

Purpose – This study investigates the factors affecting intentions to select Islamic credit cards in Pakistan by employing the Theory of Reasoned Action (TRA) model. In general, bank customers are aware of credit card facility, but the leading factors to select Islamic credit cards are particularly unexplored. Due to this fact, the study examined t...

Purpose – The purpose of this paper is to explore how social need, social influence and convenience affect dependence on smartphones and purchasing behavior among university students in Pakistan’s emerging economy. Design/methodology/approach – Survey methods and non-probability purposive sampling were used to collect data from 337 respondents, an...

This study seeks to investigate the internal and external determinants of the Pakistan banking sector, specifically after the recent financial crisis of 2008. The sample data comprises of total 26 banks, which include 17 conventional, 5 Islamic and 4 public banks. The selected sample covers the period of five years from 2009 to 2013. A balanced pan...

This study has attempted on a motivation to identify the factors that determine the intention of non-users of e-banking service in Pakistan. In this sense, the present study has combined Davi’s technology acceptance model (TAM) with external factors, namely subjective norm (SN), trust (TR), technological self-efficacy (TSE), internet experience (IE...

This study investigates the empirical influence of financial stress on equity premium in the case of United States by using the wavelet transform framework. This new methodology enables the decomposition of timeseries at different time-frequencies. Generally, empirical results show strong evidence of significant linkage between financial stress on...

The aim of this study is to measure the relationship between service quality and customer satisfaction among the customers of Pakistani Islamic banks. This study employed a modified SERVQUAL model by introducing a unique dimension of compliance in the context of service industry. A self-administered questionnaire based field survey was conducted wi...