Purpose The purpose of this paper is to develop an Islamic religiosity measurement which can be applied in many various sectors and fields. Design/methodology/approach The religiosity measurement developed by the authors had undergone systematic qualitative and quantitative approaches taking into consideration the expert opinion survey in ensuring the measurement content validity and reliability. Findings The study found that Islamic religiosity measurement is multi-dimensional. The dimensions found were beliefs and commitment or practice. Research limitations/implications The research limitation of the study is that the research is in its exploratory stages and needs to be replicated and to be tested in different contextual settings. Originality/value The instrument was developed through a rigorous systematic database search, qualitative and quantitative scale development stages which can be used as the basis in measuring Islamic religiosity.

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Purpose – The main aim of this paper is to identify whether certain consumers behave irrationally when it comes to select banking products. This paper builds on one of the most significant banking products that is the credit card. Design/methodology/approach – This is an exploratory research paper. Therefore, only descriptive analysis on the differences between three credit card user groups such as the Islamic credit card users, conventional card users and users who decide to use both credit cards, conventional and Islamic, were presented. Findings – The demographic and psychographic factors for the three different groups differ. In addition, there are four factors that influence the credit card selection. The factors are insurance/takaful provided by the credit issuers, cost associated with the credit card, the reward points programme offered and the convenience factors. Furthermore, the study found that three of the factors except insurance/takaful are significantly different between three credit card groups. Research limitations/implications – This paper is limited to the context of Malaysia and the respondents are mostly from the same ethnic. Therefore, it could not be generalised in the context of other countries and further studies comparing different culture or ethnic could benefit and enrich the topic of study. Practical implications – The Islamic and conventional banks could focus on several factors influencing customers’ selection and could focus to improve certain lacking areas as perceived by the consumers. The ability to increase the perceptions of the consumers regarding their credit cards will enable their products to be chosen in the market. Originality/value – There was a significant amount of literature discussed in the Islamic banking selection factors. However, little attention being paid to the selection of a specific bank’s product. This study offers a study that looks into the selection of the credit card offered by the banks in respect to the irrational behaviours of the religious consumers in economic activities as compared to the conventional economists. This paper will contribute to the body of existing literature of banking selection.

Stock price prediction is one of the major challenges for investors who participate in the stock markets. Therefore, different methods have been explored by practitioners and academicians to predict stock price movement. Artificial intelligence models are one of the methods that attracted many researchers in the field of financial prediction in the stock market. This study investigates the prediction of the daily stock prices for Commerce International Merchant Bankers (CIMB) using technical indicators in a NARX neural network model. The methodology employs comprehensive parameter trails for different combinations of input variables and different neural network designs. The study seeks to investigate the optimal artificial neural networks (ANN) parameters and settings that enhance the performance of the NARX model. Therefore, extensive parameter trails were studied for various combinations of input variables and NARX neural network configurations. The proposed model is further enhanced by preprocessing and optimising the NARX model’s input and output parameers. The prediction performance is assessed based on the mean squared error (MSE), R-squared, and hit rate. The performance of the proposed model is compared with other models, and it is shown that the utilisation of technical indicators with the NARX neural network improves the accuracy of one-step-ahead prediction for CIMB stock in Malaysia. The performance of the proposed model is further improved by optimising the input data and neural network parameters. The improved prediction of stock prices could help investors increase their returns from investment in stock markets.

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Islamic Bond or widely known as Sukuk has been succesfully implemented at international level and contribute a lot in economics development. The objective of this reasearch is the identify the potential of Sukuk as an instrument of investment of waqf assets. This research has been conducted by using qualitative methods which the informations were extracted from the primary and secondary data. This research has identified that there are lot of underutilized waqf land and assets and the number is increasing day by day. Therefore, the specific initiative must be conducted in order to utilized these waqf assets and gain a sufficient returns from the waqf assets utilization to boost and strengthen the economics nationwide. ABSTRAK Bon Islamik atau lebih dikenali sebagai al-Sukuk, telah mencapai kejayaan dalam perlaksanaannya diperingkat antarabangsa, di mana ia telah menyumbang kepada pembangunan dan perkembangan ekonomi masyarakat. Objektif kajian ini dilakukan adalah bagi melihat potensi instrumen ini sebagai salah satu metode pelaburan untuk tanah atau harta wakaf. Kajian ini dilakukan dengan menggunakan kaedah kualitatif dengan memperoleh maklumat dari data-data primer dan sekunder. Kajian mendapati bahawa jumlah tanah wakaf yang tidak diusahakan meningkat dari hari ke hari. Justeru, Usaha harus dilakukan untuk menjadikan tanah wakaf ini sebagai aset yang memberi pulangan sekaligus dalam membantu meningkatkan dan mengukuhkan ekonomi umat Islam.

Purpose -The purpose of this paper is to identify the performing and non-performing companies by using multiple discriminant analysis (MDA) and multiple regression and the ratios that could distinguish between the performing and the under-performing companies. Design/methodology/approach -First, the study applied the a Jensen technique to classify the Shariah compliance companies into performing and non-performing. Then, the results from the a Jensen technique with 20 financial ratios are applied to MDA in order to establish models that are used to identify non-performing and performing companies. Findings -The growth turnover ratio is the only ratio that could discriminate between the performing and non-performing companies in the plantation industry.Research limitations/implications -The paper only investigates a sector in the main board of Bursa Malaysia, which is the plantation industry. Future research may look into the whole Shariah counters in Bursa Malaysia. Practical implications -The paper could assist investors to evaluate and select an optimal investment portfolio. Originality/value -The paper applies multivariate analysis which does not depend only on one variable. Using the multivariate analysis it provides an alternative to establish models that discriminate between the performing and non-performing companies. This paper also investigates only the Shariah compliance counters in Bursa Malaysia.