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Nobody can deny the fact that health is a nucleus to the lives of nation. Absence of it can create disharmony to an individual and society at large. Recent phenomena of COVID-19 outbreak have penetrated into the lives of masses. This chaotic event causes the adverse effect to the health and well-being of people. Funds are always needed to mitigate or deal not only for such pandemic, but for another types of diseases as well. Wealth and health have interrelationship that can hardly be separated. Purpose: This paper primarily aims to discuss on Corporate Health Waqf can be an alternative mean to revive and sustain the good health and well-being of people. In addition, this paper also aims to provide a new model of waqf instrument to realize the concept of Islamic social finance in healthcare system in Malaysia. Design: The concept of fairness and justice in Corporate Health Waqf is used in this research paper. The concept is crucial in distributing wealth and resources for the betterment of health and well-being of the masses especially among the B40 and M40. Findings: This paper provides solution and suggestion for the health institutions to be supported by waqf institutions. Practical implication: This paper provides an idea to establish the concept of corporate health waqf in order to establish security in health and economic for the society well-being.
Khairul Fikry Jamaluddin; Rusni Hassan. Corporate Waqf for Healthcare in Malaysia for B40 and M40. Islamic Wealth and the SDGs 2021, 521 -537.
AMA StyleKhairul Fikry Jamaluddin, Rusni Hassan. Corporate Waqf for Healthcare in Malaysia for B40 and M40. Islamic Wealth and the SDGs. 2021; ():521-537.
Chicago/Turabian StyleKhairul Fikry Jamaluddin; Rusni Hassan. 2021. "Corporate Waqf for Healthcare in Malaysia for B40 and M40." Islamic Wealth and the SDGs , no. : 521-537.
There has been a lack of studies that highlight the potential roles of corporate waqf in supporting Sustainable Development Goals (SDGs) even though both concepts share the same objective to improve the socio-economic development of all human beings. For instance, it is the central role of waqf generally and corporate waqf mainly to provide continuous benefit for the poor and the needy such the aspects of education, health and providing financial assistance. These aspects genuinely reflect some of the goals in the SDGs. Thus, it is the aim of the study to explore the potential role of corporate waqf in supporting SDGs by examining the experiences of selected corporate waqf institutions in Malaysia and Singapore. Analysing the potential role of corporate waqf could perhaps bridge the gaps between the objective of corporate waqf and SDGs so that the impact on the policy made not only incongruent with the Shariah principles but also the SDGs. It is hoped that this alignment could expand the current role of corporate waqf to achieve more holistic socio-economic development goal at the national and global level. This study is organized into five sections, and they are introduction, literature review, research methodology, the experience of selected corporate waqf institutions in Malaysia and Singapore and conclusion.
Rusni Hassan; Fatimah Mohamad Noor. How Corporate Awqaf Can Support SDGs? Islamic Wealth and the SDGs 2021, 539 -557.
AMA StyleRusni Hassan, Fatimah Mohamad Noor. How Corporate Awqaf Can Support SDGs? Islamic Wealth and the SDGs. 2021; ():539-557.
Chicago/Turabian StyleRusni Hassan; Fatimah Mohamad Noor. 2021. "How Corporate Awqaf Can Support SDGs?" Islamic Wealth and the SDGs , no. : 539-557.
The present mindset has changed and evolved noticeably from its conventional practice to an inventive method wherein the objective of Waqf can be achieved easily and effectively. This innovation of ongoing charitable deed appears in the form of cash Waqf which has been progressively popular due to its effectiveness and flexibility in terms of the collection, investment, and distribution. Importantly, in many countries, the model of cash Waqf has evolved and flourished as a tool for financial sources and wealth distribution. Singapore and Malaysia are among the countries in which this model is considerably matured to achieve its effectiveness and valuable purpose (Abdullah Nadwi and Kroessin 2013; Saifuddin et al. 2014). Despite the significant role of cash waqf in socio-economic development, there has been a substantial gap in the literature discussing the potential roles of cash waqf in supporting SDGs. Thus, the main purpose of this study is to explore the potential role of cash to support SDGs. This study is qualitative, in which it uses the library research skill as a method of research. In this regard, the secondary data were used to analyse some existing models of cash waqf and its possible role to support SDGs. Since the SDGs consists of 17 goals, this study, however, focuses on analysing two goals of SDGs that could possibly for practical in the context of cash waqf.
Rusni Hassan; Jawwad Ali; Fatimah Mohamad Noor. Cash Awqaf: How It May Contribute to SDGs? Islamic Wealth and the SDGs 2021, 559 -577.
AMA StyleRusni Hassan, Jawwad Ali, Fatimah Mohamad Noor. Cash Awqaf: How It May Contribute to SDGs? Islamic Wealth and the SDGs. 2021; ():559-577.
Chicago/Turabian StyleRusni Hassan; Jawwad Ali; Fatimah Mohamad Noor. 2021. "Cash Awqaf: How It May Contribute to SDGs?" Islamic Wealth and the SDGs , no. : 559-577.
Trade financing is one of the facilities offered by Islamic banks in Malaysia. However, as the products are considered to be complex and ever-evolving, the portion of Islamic trade finance in Malaysia is very small. Therefore, this study intends to analyze the issues and challenges that hinder the growth of Islamic trade finance in Malaysia. Most of the literature studies and reports basically mentioned on the general issues and challenges such as political risk, legal risk, currency and foreign exchange risk, financial crisis, and the most common issues which is Shariah issues pertaining to the operations and contracts used in ITF. However, the above-mentioned issues and challenges are defined generally for all countries. The question is, does all the issues and challenges mentioned relevant in the context of the Malaysian ITF industry? This research adopts qualitative method as the main research methodology. The data collection method was done through questionnaires interview given to three selected Islamic bank’s practitioners who were directly involved in the operation of ITF. The findings portray that indeed all the issues mentioned are significant to Malaysia and legal aspect is considered as one of the big challenges in Islamic trade finance. Consequently, further study needs to be conducted in order to explore in details on the highlighted issues and its impact towards the development of Islamic trade finance in Malaysia.
Siti Aqilah Binti Ismail; Rusni Hassan. Issues and Challenges of Islamic Trade Finance Faced by Islamic Banks in Malaysia. Inventive Computation and Information Technologies 2021, 1702 -1716.
AMA StyleSiti Aqilah Binti Ismail, Rusni Hassan. Issues and Challenges of Islamic Trade Finance Faced by Islamic Banks in Malaysia. Inventive Computation and Information Technologies. 2021; ():1702-1716.
Chicago/Turabian StyleSiti Aqilah Binti Ismail; Rusni Hassan. 2021. "Issues and Challenges of Islamic Trade Finance Faced by Islamic Banks in Malaysia." Inventive Computation and Information Technologies , no. : 1702-1716.
This study aims to establish the link of key Islamic banking sustainability indicators with the United Nations’ Sustainable Development Goals (UN SDGs) as a policy recommendation for sustainable development and to mitigate the distressing impacts of the COVID-19 pandemic on the triple bottom line (people, planet, and profit). To identify the key Islamic banking sustainability indicators, the authors selected the most cited sustainability measurement indexes in Islamic banking. Initially, the indexes were divided into 10 broader themes, and then the key Islamic banking sustainability indicators were shortlisted from each theme based on their high-frequency distribution. The shortlisted sustainability indicators were then ratified to be in line with Islamic philosophy based on “Maqasid al-Shariah” (objectives of Shariah) and were subsequently grouped into the three dimensions of economic, environmental, and social sustainability based on the axial coding method. Finally, the categorized sustainability indicators were aligned with the relevant UN SDGs through the axial coding method for policy formulation, and respectively 12 propositions were developed for policy formulation. This study labeled the methodological process of this study as the ECA method (exploration, categorization, alignment). The new ECA method offers a reverse extension in the “SDG compass” developed by the Global Reporting Initiative (GRI) for aligning business policies with the UN SDGs. The process of aligning Islamic banking sustainability indicators with the UN SDGs will provide a roadmap to recovery from the COVID-19 pandemic in terms of economic, environmental, and social issues. Due to the diversity of the UN SDG framework, it covers multiples aspects for sustainable development. Therefore, considering the UN SDGs in terms of various banking instruments will mitigate the multiple distressing impacts of COVID-19 on the triple bottom line (people, planet, and profit), it will also promote a sustainable development agenda.
Amin Jan; Mário Mata; Pia Albinsson; José Martins; Rusni Hassan; Pedro Mata. Alignment of Islamic Banking Sustainability Indicators with Sustainable Development Goals: Policy Recommendations for Addressing the COVID-19 Pandemic. Sustainability 2021, 13, 2607 .
AMA StyleAmin Jan, Mário Mata, Pia Albinsson, José Martins, Rusni Hassan, Pedro Mata. Alignment of Islamic Banking Sustainability Indicators with Sustainable Development Goals: Policy Recommendations for Addressing the COVID-19 Pandemic. Sustainability. 2021; 13 (5):2607.
Chicago/Turabian StyleAmin Jan; Mário Mata; Pia Albinsson; José Martins; Rusni Hassan; Pedro Mata. 2021. "Alignment of Islamic Banking Sustainability Indicators with Sustainable Development Goals: Policy Recommendations for Addressing the COVID-19 Pandemic." Sustainability 13, no. 5: 2607.
Cryptocurrency has been seen to create a new phenomenon to the landscape of financial services industry. It has gained traction in attracting all relevant players in the industry to delve deeper into the issue. Preceding bitcoin as the inaugural prevalent product, cryptocurrency has been utilized as the medium of payment in various sectors. Since then, cryptocurrency become up-to-the-minute phenomena in the financial services industry. To many, the scheme seemed to exhibit many potential benefits including greater speed of payment and efficiency particularly cross-borders and thus serves as the best choice to ultimately promote financial inclusion using an online platform.
Rusni Hassan; Nadiyah Syahira Nordin; Rizal Mohd Nor. Regulatory and Shari’ah Framework of Cryptocurrency. Halal Cryptocurrency Management 2019, 195 -218.
AMA StyleRusni Hassan, Nadiyah Syahira Nordin, Rizal Mohd Nor. Regulatory and Shari’ah Framework of Cryptocurrency. Halal Cryptocurrency Management. 2019; ():195-218.
Chicago/Turabian StyleRusni Hassan; Nadiyah Syahira Nordin; Rizal Mohd Nor. 2019. "Regulatory and Shari’ah Framework of Cryptocurrency." Halal Cryptocurrency Management , no. : 195-218.
The existing use of mobile technology nowadays can be integrated with various forms of learning materials such as electronic books and digital references in a form of dictionary or encyclopaedia. The expansion of Islamic banking practices through various local financial institutions which received vast attention nowadays by educationists and learners for instance, leads to the need in understanding the terminologies used in the industry. In view of this scenario, the paper shed some light on using a workable model for developing a purposeful mobile Islamic banking terminology glossary application in a more convenient way via mobile devices such as iPhone, iPad or any Android-based smart gadgets. The mobile terminology glossary app was designed by using a developmental research design using via rapid prototype instructional design model. The process begun with a need analysis conducted among 225 respondents in International Islamic University Malaysia (IIUM) It further explored the prototype development and its implementations for mobile accessibility by providing multilingual glossary of Islamic banking and finance terminologies (Malay-Arabic-English). This paper reports the findings design and development prototype based on the need analysis stage, inclusive of mapping users’ device type, Internet accessibility, reasons for owning mobile devices, delivery and user interface, and preferred features to be embedded in the mobile app.
Nafi @ Hanafi Nafi @ Hanafi Dollah; Mohd Feham Md Ghalib; Muhammad Sabri Bin Sahrir; Rusni Hassan; Abdul Wahab Zakaria; Zakaria Omar. Prototype Development of Mobile App for Trilingual Islamic Banking and Finance Glossary of Terms via iOS and Android Based Devices. International Journal of Interactive Mobile Technologies (iJIM) 2017, 11, 145 .
AMA StyleNafi @ Hanafi Nafi @ Hanafi Dollah, Mohd Feham Md Ghalib, Muhammad Sabri Bin Sahrir, Rusni Hassan, Abdul Wahab Zakaria, Zakaria Omar. Prototype Development of Mobile App for Trilingual Islamic Banking and Finance Glossary of Terms via iOS and Android Based Devices. International Journal of Interactive Mobile Technologies (iJIM). 2017; 11 (3):145.
Chicago/Turabian StyleNafi @ Hanafi Nafi @ Hanafi Dollah; Mohd Feham Md Ghalib; Muhammad Sabri Bin Sahrir; Rusni Hassan; Abdul Wahab Zakaria; Zakaria Omar. 2017. "Prototype Development of Mobile App for Trilingual Islamic Banking and Finance Glossary of Terms via iOS and Android Based Devices." International Journal of Interactive Mobile Technologies (iJIM) 11, no. 3: 145.