Islamic Economics: Foundations and Practices

Abbasi, Sami M.; Hollman, Kenneth W.; Murrey, Joe H.

doi:10.1108/03068298910367215

Cited by 31 publications

(14 citation statements)

References 4 publications

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“…In addition, Abbasi et al (1989) argue that Islam provide guidelines for the ethical behavior of all aspects of life including business. For example, in a similar tradition of Kosher foods, Muslim Malaysian consumers prefer to buy ''halal'' products; products free of pork and alcohol.…”

Section: Islamic Philosophymentioning

confidence: 99%

Measuring Consumer Perceptions of Business Ethical Behavior in Two Muslim Countries

Tsalikis

Lassar

2009

J Bus Ethics

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Section: Islamic Philosophymentioning

confidence: 99%

Measuring Consumer Perceptions of Business Ethical Behavior in Two Muslim Countries

Tsalikis

Lassar

2009

J Bus Ethics

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“…The hypothesis is rejected if the significance probability value is > 0.05. 1 The results of the F statistical test can be seen in the following table: 3.34 with an F sig value of 0.000, while the alpha (α) value is 0.05. Thus the value of F sig < alpha (α) (0.000 < 0.05) means that the motivation to avoid usury and product knowledge has a significant effect on the decision to become a customer of Islamic banks.…”

Section: Hypothesis Testing a Simultaneous Test (F Test)mentioning

confidence: 99%

“…Furthermore, the verse shows that riba will destroy the welfare of a nation. Allah also commands that believing Muslims stay away from usury practices or the like because riba practices can lead to misery in both the world and the hereafter (Abbasi, Hollman, & Murrey, 1989).…”

Section: Introductionmentioning

confidence: 99%

The Effect of Riba Avoidance and Product Knowledge on the Decision to Become a Customer of Islamic Banks

Musyahidah¹

2021

ijmra

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The objective of this study is to find out the impact of riba avoidance motivation and product knowledge towards decision to be Islamic banks customers. Previous studies found that Muslim societies chose Islamic banks because they are interest-free. However, other studies also found that most Islamic banks customers do not have sufficient knowledge about Islamic bank products. Using the quantitative method, this study surveyed the effect of riba avoidance and product knowledge towards intention becoming Islamic bank costumers. There were thirty respondents who were chosen accidentally. Questions were distributed manually to the Islamic banks' customers. Our study found that riba avoidance and product knowledge significantly affect the decision to become a customer of Islamic banks in Palu City. This is proven by the sig-F value of 0.000, which is smaller than Alpha 0.05. At the same time, partially, the motivation to riba avoidance and product knowledge has a significant effect on the decision to become a customer of Islamic banks. Our findings highlight that Islamic banks should focus on providing more free riba products to attract more Muslim customers. In addition, customers' knowledge of Islamic banks' products should also become the banks' focus for improvement.

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“…Incorporation of corporate and Shari'ah governance to ensure corporate fairness, transparency and accountability (Hasan 2009) Promoting profit loss sharing (PLS) to promote economic growth (Chapra 1992;Mills & Presley 1999) Promotes justice, equity and fairness, emphasising on 'adl wal ihsan' (justice and beneficence) (Abbasi, Hollman & Murrey 1989;Naqvi 1994Naqvi , 2003Nomani & Rahnema 1994) External (the kind of financial activities promoted by social banks) Internal (functioning of the institution) In articulating sustainable banking, social banking is proposed to incorporate CSR and sustainable development model since the objectives of CSR are intertwined with sustainable development. The evolving concept of CSR has resulted in the extension of the scope of CSR to include more elements.…”

Section: Islamic Social Banking: a Sustainable Banking Institutionmentioning

confidence: 99%

Islamic Social Bank: An Adaptation of Islamic Banking?

Nor¹

2016

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Islamic banking is an experiment of the viability of Islamic economy with the aim to fulfil the socioeconomic justice that balances the material and social aspects of finance. However, the current practice of Islamic banking has yet to address the moral issues in promoting a balance between social and economic justice. Consequently, some scholars suggested that it is timely to learn from the experience of social banking model; that is an articulation of a sustainable and CSR oriented banking model in fulfilling the developmental needs of Muslim societies. Therefore, the purpose of this study is to introduce the idea of Islamic social banking based on the aspiration of Islamic moral economy. This paper will also discuss the social and sustainable features of social banking from an Islamic view which importantly will lead to social and economic development. The implication of the study is to fulfil the developmental needs of the Muslims in alleviating poverty and uplifting the social status by introducing a social bank which is Shari'ah compliance.

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Islamic Economics: Foundations and Practices

Cited by 31 publications

References 4 publications

Measuring Consumer Perceptions of Business Ethical Behavior in Two Muslim Countries

Measuring Consumer Perceptions of Business Ethical Behavior in Two Muslim Countries

The Effect of Riba Avoidance and Product Knowledge on the Decision to Become a Customer of Islamic Banks

Islamic Social Bank: An Adaptation of Islamic Banking?

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