Nor Razinah Mohd Zain

• Advocate and Solicitor of High Court of Malaya (Non-Practising)
• Asst. Prof. Dr. at International Islamic University Malaysia

The recent groundbreaking reforms in the legal and regulatory framework for Islamic banking and finance in Malaysia usher in a new phase in the modern history of this hitherto niche market. As part of these latest reforms, a major paradigm shift in the process of dispute resolution has taken place through the introduction of the financial ombudsman...

Shari'ah Governance Framework for Islamic Financial Institutions 2010 or SGFI was introduced as an effort to establish and enhance the corporate governance structure which is in line with the requirements of Shari'ah. Opposite from the conventional corporate governance, the Shari'ah corporate governance has distinguished features where the priority...

A critical appraisal is presented in this paper concerning to comparative legal research in the development of laws within the legal system of a particular country. The emphasis is given on the essential roles of comparative legal research from different aspects of legal branches which co-related to one another. This is closely connected with accep...

This empirical legal study examines the perceptions of retail customers on the dispute resolution clauses contained in the governing law and jurisdiction clauses in Islamic finance contracts in Malaysia. Since Islamic financial institutions and their customers are more likely to opt for litigation in the event of a dispute, this study explores ways...

The present exploratory research attempts to study the traditional roles of Malay head villagers or Penghulu in achieving resolution of disputes among their subjects. A comparative perspective is appreciated by looking into two different countries from two different provinces. Whilst, province of Pasir Mas, Kelantan was selected to represent Malays...

The study places a strong emphasis on women’s empowerment, given the quick changes in society that are occurring right now. Many women are pursuing various sorts of employment, including self-employment, in this era of economic liberalization and women's empowerment. However, this study aims to investigate the connection between Islam and women's e...

Agriculture in Morocco holds a position of great significance as it is considered the most promising sector capable of generating substantial benefits for other sectors. In 2021, the agricultural sector contributed approximately 12.04 percent to Morocco's GDP. Moroccan agriculture comprises three primary sectors, each with its unique focus: Contemp...

The continuous growth of Islamic financial services globally indicates the growing interest and acceptance from the relevant stakeholders for ethical financing and faith-based financial system. A progressive demonstration in product innovations and governance can be traced in many countries that participate in the Islamic financial services industr...

This research is a part of the "Humanitarian Sukuk Research Project" conducted by our team at IIUM Institute of Islamic Banking and Finance/IIiBF, International Islamic University Malaysia. For further inquiry, please contact Dr. Nor Razinah at mumtaz_razi@iium.edu.my. We are also open to considering any available funding or sponsorship for this re...

This research is a part of the "Humanitarian Sukuk Research Project" conducted by our team at IIUM Institute of Islamic Banking and Finance/IIiBF, International Islamic University Malaysia. For further inquiry, please contact Dr. Nor Razinah at mumtaz_razi@iium.edu.my. We are also open to considering any available funding or sponsorship for this re...

This research is a part of the "Humanitarian Sukuk Research Project" conducted by our team at IIUM Institute of Islamic Banking and Finance/IIiBF, International Islamic University Malaysia. For further inquiry, please contact Dr. Nor Razinah at mumtaz_razi@iium.edu.my. We are also open to considering any available funding or sponsorship for this re...

This research is a part of the "Humanitarian Sukuk Research Project" conducted by our team at IIUM Institute of Islamic Banking and Finance/IIiBF, International Islamic University Malaysia. For further inquiry, please contact Dr. Nor Razinah at mumtaz_razi@iium.edu.my. We are also open to considering any available funding or sponsorship for this re...

This research is a part of the "Humanitarian Sukuk Research Project" conducted by our team at IIUM Institute of Islamic Banking and Finance/IIiBF, International Islamic University Malaysia. For further inquiry, please contact Dr. Nor Razinah at mumtaz_razi@iium.edu.my. We are also open to considering any available funding or sponsorship for this re...

Malaysia is one of the most attractive destinations for refugees from different parts of the world. It is a haven country where refugees can venture into new decent lives secured from poverty, discrimination and political pressure. Similarly, certain European countries are also offering attractive privileges to refugees. Nevertheless, such privileg...

This chapter aims to examine and evaluate new challenges of personal data protection in the financial system as a result of the application of artificial intelligence in metaverse. This evaluation is critical since this advanced technology is yet to be regulated by the relevant financial authorities. Nowadays, there are already a number of issues r...

The continuous advancement of financial technologies in the realm of Islamic banking and finance is influenced by the spread of banking digitalization. The digitalization of banking is undeniably related to the expansion and dependency on the use of the Internet among the customers. Instead of depending on physical location, Islamic banks nowadays...

Inclusivity in access to finance is a global concern and a key enabler of the prime Sustainable Development Goals (SDGs). This study focuses on appraising Islamic equity financing as an essential vehicle for a deepened and effective financial inclusion in Nigeria. The study relies on primary and secondary data sourced from surveys, interviews, offi...

In achieving a low-carbon economy, the Securities Commission Malaysia (SC) is facilitating companies, particularly the high-emitting greenhouse gas industry moving towards low-carbon activities with the issuance of the SRI-linked Sukuk Framework (SRILSF). This paper will analyse the SRILSF, explore the features of the SRI-linked sukuk and innovatio...

This research is a part of the "Humanitarian Sukuk Research Project" conducted by our team at IIUM Institute of Islamic Banking and Finance/IIiBF, International Islamic University Malaysia. For further inquiry, please contact Dr. Nor Razinah at mumtaz_razi@iium.edu.my. We are also open to considering any available funding or sponsorship for this re...

This book narrates the MADANI SCRIPT journey of empowering IIUM mKitchen™ Students with the 3Es (Employment, Empowerment, and Entrepreneurship). The students started the journey with in-class training on entrepreneurship, business model and plan development, digital marketing, and cash management. Then, the students had a cooking demonstration on s...

This book narrates the functional roles of Rumah Makan Mkitchen in distributing free food to the needy. The main motivation for mKitchen was to help optimise the facilities and functions of masjid kitchens in preparing food for the needy (similar concept of free food or soup kitchens). The kitchen crew members comprised the needy – the Asnaf. They...

This research examines the adequacy of financial inclusion in the northwest and northeast of Nigeria and the role of Islamic finance in deepening financial inclusion in those identified regions. By adopting qualitative analysis, content analysis is used to determine the status of financial inclusion in Nigeria. The study relies on secondary data co...

This research explores the potential of cash waqf in generating capital revenue in carrying out social-based investment through social enterprises. Looking closely into two different concepts (i.e., social enterprises and waqf), this research appreciates the understanding on the modern business model of social enterprise and the innovative version...

Since the introduction of the United Nation Millennium Development Goals (2000) and Sustainable Development Goals (2015), sustainable finance had grown exponentially via the strong support of regulators introducing a framework to support the financing of sustainable development. Malaysian regulatory bodies played an active role in pushing the susta...

Takaful is a financial planning tool that can be used as an alternative for conventional insurance. Generally, takaful products are divided into general Takaful and family takaful. A feature of the General Takaful is that it has a short-term policy and that its liabilities coverage is limited to material losses only. On the other hand, family takaf...

Domestic violence can be defined as physical or emotional abuse of family members for many reasons, such as finances, drug abuse, jealousy, or other reasons that can result in injury or even the death of the victim. This paper explores several “tips of the iceberg” situations, which reflect cases of domestic violence during the COVID-19 Movement Co...

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...

The COVID-19 pandemic is an unprecedented humanitarian challenge which requires innovative solutions. One apparent challenge among governments is to come up with appropriate funds to finance economic stimulus packages. Such stimulus packages are necessary for the protection and wellbeing of the people and to ensure that the economic operations rema...

The increasing usage of blockchain technology in digital investment, cryptocurrency, and financial technology (FinTech) has led the global financial market to a new innovation of concluded contract. Instead of depending on legally drafted documents, smart contract is concluded through the computerized algorithm. Based on the smart contract, the leg...

This presentation shows the initiatives performed by the community of International Islamic University Malaysia (IIUM) during the lockdown period of MCO in Malaysia. Despite all the hardships, the journey in overcoming Covid-19 is done with the spirit of togetherness. Highest gratitudes are given to the brave volunteers that consist of IIUM staffs...

The disruption of innovations in the banking sector continues to indicate a positive trend among bankers and customers. The innovations of technology that stand with speediness and fast track transaction effectively support the spread in using banking system without barriers. Recently, the financial services industry continues to be surprised by th...

Sukuk is one of the fast-growing financial areas in Islamic finance. This paper reviews innovative sukuk instruments in the global financial market in addition to looking at key considerations in facilitating innovative sukuk structures. Using secondary data collected from official reports and peer-reviewed journal articles the authors analysed fiv...

There is increasing interest among investors in one of the latest investment vehicles - unit trusts. Unit trusts have several advantages as investments in comparison to other investment vehicles, as they are managed by fund managers and tied down by a trust deed. These advantages can be traced back to the investment diversification, professional ma...

The quality education is set to be the 4th Sustainable Development Goals (SDG) and it is consistent with the educational system of United Nations member countries. Looking closely into educational institutions that pioneering in Islamic financial services in Southeast Asia, the process of Islamization of financial services continuously done through...

Funding for Higher Learning Institutions (HLIs) in Malaysia has become increasingly constrained as the government faces increasing costs and global economic slowdown. Central to this issue is the challenge to raise the funds needed to sustain HLIs' operations and development. It has therefore become a necessity for HLIs to come up with innovative w...

Social finance is an approach to managing investments that generate financial returns while including measurable positive social and environmental impact. practice, social finance typically involves investments in some forms of socially sensible equity or debt financing, microfinance and social impact bonds. Islam has already provided a social-base...

Reaching towards 2018, the modern world sees the worst of refugees' crisis after the War World II. With massive movement of refugees caused by war and genocide, these refugees are facing starvation and deprivation of human rights beyond imagination. This research explores the understanding on sustainable development goals in facing the refugee cris...

Higher education in Malaysia is facing many challenges including rising costs, low repayment rates of the National Higher Education Fund (Perbadanan Tabung Pendidikan Tinggi Nasional, PTPTN), and the need to continuously improve educational quality. In addressing these challenges, the Malaysian Ministry of Higher Education (MOHE) has focused on eff...

This research analyses the existence of hijabophobia in relation to Muslim friendly hospitality services in Malaysia. By looking into the current practices of hospitality industry (specifically by looking into customer services of hotels) in Malaysia, this research investigates: (i) what is meant by hijabophobia? (ii) nature of hijabophobia under t...

The application of mediation can be traced in many culture and tradition across the world. Closely related to the faith of the people, mediation has essential roles in resolving disputes among the members of the society. While, the faith-based mediation of Ho’oponopono is famous in Hawaii, the faith-based mediation of Sulh is famous among the Musli...

This research analyses the existence of hijabophobia in relation to Muslim friendly hospitality services in Malaysia. By looking into the current practices of hospitality industry (specifically by looking into customer services of hotels) in Malaysia, this research investigates: (i) what is meant by hijabophobia? (ii) nature of hijabophobia under t...

Abstract Purpose This research looks in depth into the implementation of value-based intermediation (VBI) from Islamic perspective. The researchers also analyse the importance of Sharīʻah committee’s role in ensuring the implementation of VBI with reference to maqāṣid al-sharīʻah are achieved. Design/methodology/approach – Qualitative methods are...

This paper presents the comparative perspectives between the long standing conventional banking and the newly introduced Islamic banking within the Malaysian legal framework, in relation to the concept of rights and duties of bankers towards their respective customers. For simplicity of understanding, this paper is divided into two (2) different pa...

Islamic social finance is akin to the conventional social finance but the former is subjected to the established principles of Sharī‘ah. In generating positive impacts to the society, the Islamic social finance and its instruments must be utilised in protecting and preserving the Maqāṣid al-Sharī‘ah. A critical analysis on the Islamic soci...

Recently, the Islamic wealth management (IWM) was introduced as a new area of service operation that closely related to Islamic financial services industry (IFSI) and Islamic capital market (ICM). The main factor for the development of IWM can be attributed to the continuous and increasing interests from the IFSI and ICM stakeholders. Regardless of...

With the enactment of the Islamic Financial Services Act 2013 (IFSA 2013) in Malaysia, the dispute resolution landscape has been transformed to reflect more on effective dispute settlement that would ensure consumer protection without prejudicing the interests of the financial service providers. The Central Bank of Malaysia, as the main regulatory...