Islamic finance: legal frameworks, practices and shariah criteria review

Naim, Asmadi Mohamed; Isa, Mohamad Yazid; Hamid, Mohd Liki

doi:10.32890/9789672210924

Cited by 1 publication

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“…Businesses that engage in prohibited behavior under Shariah law, such as those who deal in the exchange of gold and silver, interest-bearing loans, alcohol, obscenity, gambling, and cigarettes, are likewise excluded. Furthermore, businesses with capital structures that are more debt-heavy-often greater than one-third of total capital-should be ignored (Ho & Mohd-Raff, 2019;Naim et al, 2020;Osman et al, 2016). Several nations, including India, collaborated to build the Shariah-compliant in stock market index, which follows Shariah stock screening guidelines (Natarajan & Dharani, 2012).…”

Section: Introductionmentioning

confidence: 99%

Development and Validation of an Islamic Investor’s Sentiment Scale for Stock Market Investment

Begam

Babu

Sulphey

2023

Business Perspectives and Research

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Islamic law prohibits Muslims from investing in certain businesses such as banking, alcohol, and speculation. As such, Islamic investment is different from traditional investment, as investment principles emphasize ethical investing and compliance with Shariah, the Islamic rule that controls every aspect of a Muslim’s life. However, a fair review of the literature failed to find any questionnaire to measure Islamic investor sentiment. In order to create and standardize a technique to gauge Islamic investors’ attitudes about share market investment, a research was conducted. Islamic investors’ attitudes were the dependent variable, while the study identified Islamic investing ethics, religious considerations, profitability, social impact, and information accessibility as independent variables. Python programming was used to evaluate the data gathered from 391 respondents using a 24-item structured questionnaire. According to the study’s findings, each of the characteristics has a big influence on how Islamic investors feel. Furthermore, this study shows that participation in religious activities elevates the spirits of Islamic investors. The verified Islamic investor’s feelings questionnaire in this study is expected to inspire more investigation in this fascinating field.

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