A validation of profit sharing ratio determination mathematical model for Islamic hire-purchase contract

Halim, Nurfadhlina Abdul

doi:10.12988/ams.2013.13183

Cited by 3 publications

(3 citation statements)

References 3 publications

(5 reference statements)

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“…Cluster 1 talks a lot about contracts and practices in Islamic banking, in particular the scheme and modeling of profit-loss sharing, both mudharabah, and musyarakah. Some modeling related to the PLS scheme, among others, was carried out by Bakhtiar et al (2014), Halim (2013, Halim et al (2016), Hasan (2010), Khaled & Khandker (2015), Sugema et al (2010), Sumarti & Marendri (2017), Sumarti et al (2015), Wahyudi & Sakti (2016) and Wolf et al (2018). Meanwhile, specifically, the mudharabah profit-sharing modeling has been carried out by Cahyandani et al (2017), Isa (2011), andOmar &Jaffar (2016).…”

Section: Visualization Of Network Co-word Mapsmentioning

confidence: 99%

“…Halim and Jaffar generally researched and carried out mathematical modeling for PLS schemes both in banks and other financial institutions. The difference, Halim conducted a study on the application of the ijarah muntahiya bittamlik scheme or the AITAB contract (Halim et al 2012;Halim et al, 2016;Halim, 2013) while Jaffar more demonstrated the PLS model in the musyarakah transaction agreement (Jaffar et al, 2017; and mudharabah (Omar & Jaffar, 2016) or both (Jaffar & Issa, 2011).…”

Section: Visualization Of Density Maps Co-authormentioning

confidence: 99%

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Modeling Islamic Economics and Finance Research: A Bibliometric Analysis

Rusydiana¹,

Sanrego

Rahayu

2021

IJIEF

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This study aims to determine the development map of mathematic model in islamic economics and finance research that is indexed by Scopus and other reputable journal with the keyword "Mathematic model in islamic economics and finance". The data analyzed were 100 selected publications. The development map of mathematic model in islamic economics and finance research analyzed using the VOSviewer application program to find out the bibliometric map. The results showed that the number of publications on the development of mathematic model in islamic economics and finance research indexed Scopus from 1983-2019 experienced a significant increase and the most were published in Journal of King Abdulaziz University: Islamic Economics. Network visualization showed that the map of the development of mathematic model in islamic economics and finance research was divided into 3 clusters. The majority of research is related to modeling of Profit Loss Sharing (PLS) schemes. However, despite the development of using mathematical model in those researches, the approach tends to be adaptive (inductive) from conventional models that already exist. A challenge to review the mainstream model need to be further critically reviewed. Hence, it is necessary for researcher to formulate a mathematical model with a deductive approach that is reduced from Islamic norms or ethics derived from the Alquran and Sunnah.

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Section: Visualization Of Network Co-word Mapsmentioning

confidence: 99%

Section: Visualization Of Density Maps Co-authormentioning

confidence: 99%

Modeling Islamic Economics and Finance Research: A Bibliometric Analysis

Rusydiana¹,

Sanrego

Rahayu

2021

IJIEF

View full text Add to dashboard Cite

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“…A similar topic was studied by Dale-Johnson [37]. Halim and Jaaman [38] developed a mathematical model for a specific type of contract, named AITAB. McCann and Ward [39] analyzed rental payments using a multi-period stock inventory model and showed that the factor that most influences the tenant's value of the land is the duration of the lease.…”

Section: Literature Reviewmentioning

confidence: 99%

A Generalised Model of Ground Lease Pricing

et al. 2018

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In this paper, we present a generalization of Mandell’s model for the estimation of ground lease pricing. We adjust the model so that it fits, in particular, the Polish legal regulations and situation of the Polish real estate market. The model involves two aspects. The first is the perpetual usufruct, a form of owning the ground similar to a long-term lease, but having some specific features. The second is allowing lease rent adjustments after some fixed period, meaning we consider the situation where the payments are fixed during certain periods as defined in the contract. The proposed model determines the minimum lease amount for the owner, which is the rate at which it is beneficial to lease the property, and the maximum for the lessee, which is the amount above which the lease is unprofitable for the leaseholder or perpetual usufruct.

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Joint two-echelon inventory model for optimal inventory decisions and shipment policies under non-linear price dependent demand

Kumar¹,

Nagaraju²,

Narayanan³

2014

ams

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In supply chain management, achieving effective coordination among manufacturers and retailers has become a pertinent research issue. Supply chain coordination is a joint decision policy achieved by the manufacturer and a retailer. This work proposes ajoint two-level supply chain model with a singlemanufacturer and a single-retailer. The novelty of the proposed model is that the demand is expressed as non-linear function of the retailer's unit selling price. Ordering/setup costs, carrying costs and transportation costs are considered in the development of the model. The objective of the model is to demonstrate the optimality of replenishment quantities, shipment frequency and the total relevant 8418 Burra Karuna Kumar et al. costs under non-linear price dependent demand. The model is solved using a computer programme written in MATLAB, as per the optimality criterion derived for the decision variables. Further, the sensitivity analysis is carried out to show the influence of the model parameters.

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A validation of profit sharing ratio determination mathematical model for Islamic hire-purchase contract

Cited by 3 publications

References 3 publications

Modeling Islamic Economics and Finance Research: A Bibliometric Analysis

Modeling Islamic Economics and Finance Research: A Bibliometric Analysis

A Generalised Model of Ground Lease Pricing

Joint two-echelon inventory model for optimal inventory decisions and shipment policies under non-linear price dependent demand

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