Islamic Financial Institution is considered Halal and Shariah-compliant institution that effectively developed and impacted the role of developing Small Medium Enterprises by sharing similar value, principle, and market activities under Shariah-compliant and business sector. Despite its similarities, there is still low penetration of Islamic financial institutions on the Halal business instrument. However, the business should not only concentrate on Halal business but also financing SMEs is essential. The purpose of the study is to investigate the impact of Islamic Financial Institutions on the development of Halal SMEs in Nigeria. A 350 survey questionnaire was distributed to the twenty (20) Halal Small Medium Enterprises using Structural Equation Modelling and random sampling as an essential investigation tool. The findings justified that the development of SMEs with a significant number of business units and financing from Islamic financial institutions indicates a positive direction and promotes the development of SMEs ' relatively and broader representation of the Halal industry. The study shows a general overview of the positive impact on Islamic financial institutions towards the financing Halal sector and addresses the rate of unemployment in Nigeria. The study recommends strategies for creating a partnership with Middle-East and Asian investors for more effective models and application techniques for financing SMEs and addresses the rate of poverty and unemployment in the country.
<p>The objective of this paper is to assess the causes of financial exclusion in northern Nigeria, including the reason and causes behind the accessibility to banking services at a competitive and affordable prices. The study adopted Confirmatory Factor Analysis under Structural Equation Modeling using vulnerable group theory (Religiosity and Poverty) and financial literacy theory (Awareness). In this study, the survey method was used, additionally, the stratified sampling technique is applied as it provides richness and accuracy of information from respondents from various stratums. The participants comprised senior, middle and lower classes for the study justification. The finding indicates the positive relationship between Vulnerable Group Theory and Financial Exclusion while Financial Literacy Theory has no relationship as indicated. Therefore, the vulnerability which is consists of Religiosity and Poverty drive as the major causes of Financial Exclusion in Nigeria. The research provided insights and developed a model that indicates the causes of financial exclusion and apparent barriers to better financial services and inclusion in the community and society. This study's originality shows that have not used such vulnerable group theory and financial literacy theory for justification.</p>
Purpose This study developed a model for the mediation role of satisfaction on Jaiz bank products and services as an alternative way of improving customer’s subjective experiences of banking in Nigeria. Design/methodology/approach This paper adopted structural equation modelling’s confirmatory factory analysis with three-factor theory. Composite reliability, average variance extracted and discriminant validity were used to test the validity and reliability of data collected from a sample of 345 participants comprising senior, middle and lower-income earners. Also, descriptive statistics and independent analysis of variance were used for the analyses. Findings This paper provides insights into how Jaiz bank products and services will significantly improved the social lifestyle of Nigeria. Findings also indicates how context-specific Islamic bank products and services are embedded in the social ordering of communities in Nigeria and thus facilitate a more satisfactory and productive experience of customers. Practical implications Findings from the study provide insight and inform managers in making an informed decision on the products and services offered to a section of the popular, where strategic and analytical insights could strengthen different segments of the banking system in Nigeria. This study emphasises the significance of Islamic banking within the specific context of Nigeria, and also has an obvious theory and management implications. Originality/value It is hard to find a research paper discussing the mediation role of customer’s satisfaction on Jaiz bank products and services in improving the social lifestyle of Nigerians. This study provides a model that can be adopted in analysing products and services of Islamic banks based on customer’s satisfaction.
This study tends to monitor the phases of fast food chains industry at MacDonald’s in Kuala Lumpur at Malaysia and check its compliance with Sharia restrictions based on ḥalāl food regulations in Sūrah al-Māʾidah. Besides, this study eyes to make sure that the food is edible and safe from any kind of ingredient or component that might harm the consumer’s health or have any negative impact on his religion. The deductive method has been used to conclude the most important sharia restrictions related to the acquisition of ḥalāl food. In addition, a qualitative research method with a case study was used to monitor the operations of the fast food industry in McDonald's in Malaysia. Furthermore, a set of questions has been used for an interview with two senior staff members of McDonald's in order to gain a deep understanding of industry processes ḥalāl food. These questions were developed based on ḥalāl food regulations in Sūrah al-Māʾidah. In this study, eight emergent themes have been discovered while doing analysis which are: Food Hygiene and Safety, Ingredient, Equipment and Environment, Packaging, Processing, Storage and Transportation, Staff and Sharia Advisor. The result of this study proved that Mcdonald's Fast-Food in Kuala Lumpur comply with the halāl food regulations stated in Sūrah al-Māʾidah. This study might benefit the international and domestic food companies with a greater concern on Sharia requirements on food handling from production to marketing and from preparation to serving.
The main objective of the current study is conceptualizing a framework about the factors that affect the Islamic Banking and Finance adoption (IBF) in Libya, namely; Knowledge and Awareness, Attitude, Subjective Norms, Perceived behavioural control, and Religiosity. The researcher will utilize quantitative research methods. Primary data was collected from Beneficiaries of financial services in Libya who are anticipated to use IBF are the focus of the present research project’s population targeting efforts. A total of 30 respondents were selected for this study. The researcher has found that all of the developed items in the survey questionnaire have scored a sufficient level of Reliability and Validity. Therefore, these results stressed that this framework can be used in an empirical study to extract further results on the relationship between the variables.
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