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All Journal Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal IMAGE al-Uqud : Journal of Islamic Economics Indonesian Capital Market Review PROCEEDING INTERNATIONAL BUSINESS AND ECONOMICS CONFERENCE (IBEC)
Muhamat, Amirul Afif
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Other

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 1 
The Malaysian Fund Managers Perspective on the Viability of Takaful Operators Investment Muhamat, Amirul Afif; Jaafar, Mohamad Nizam; Karim, Norzitah Abdul; Roslan, Azreen; Basri, Mohd Faizal
al-Uqud : Journal of Islamic Economics Vol 4, No 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (450.202 KB) | DOI: 10.26740/al-uqud.v4n2.p250-267

Abstract

Takaful operators are expected by the policyholders to act beyond the role of traditional insurance companies that only offer Shariah-compliant protection services. They are expected to be commercially viable. One of the ways to be commercially viable is takaful operators must be able to invest the policyholders' funds in the profitable investment avenues. Nevertheless, the critical issue before investing the funds is to develop products that are suitable with the takaful operators' investment strategy. This study employed a questionnaire survey to gather the feedback of fund managers from 11 takaful operators in Malaysia — all were the senior staffs of takaful operators in Malaysia were surveyed. The questionnaire is developed in the form of a Likert scale ranging from 1 to 5 as the research instrument. By Delphi technique, the draft of the questionnaire was sent to a panel of experts for review, was adopted, and their feedback reflected in the final questionnaire. The experts were a shariah advisor, a corporate finance manager, and a senior executive at the central bank. Findings indicate that policyholders' expectations on their investments are met and the products so far compatible with takaful operators' investment strategies.
Overconfidence and Herding: How These Biases Affect Generation Z Investments Decision Making Yuliawati, Tia; Nugraha, Nugraha; Sari, Maya; Waspada, Ikaputera; Purnamasari, Imas; Hendrayati, Heny; Muhamat, Amirul Afif
Image : Jurnal Riset Manajemen Vol 12, No 1 (2024): Image : Jurnal Riset Manajemen
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/image.2024.012

Abstract

The purpose of this study is to understand and analyze the impact of overconfidence bias and herding bias on the investment decisions of Generation Z. This research employs a survey method with a confirmatory approach. Data was collected from a sample of 104 respondents through questionnaires distributed via Google Form. Hypothesis testing was conducted using SEM Analysis with the assistance of SmartPLS 4.0 software. The results of the study indicate that overconfidence bias has a positive and significant influence on the investment decisions of Generation Z, while herding bias does not have a significant influence. Furthermore, this research reveals that the variables of overconfidence bias and herding bias can explain 45.4% of the variation in the investment decisions of Generation Z. However, it is important to acknowledge the limitations of this study, such as the relatively small number of respondents (only 104 respondents) and the absence of comparative analysis with demographic factors of other generational groups (e.g., older generations). This study is expected to provide deeper insights into the investment behavior of Generation Z and serve as a foundation for the development of wiser risk and financial management approaches for this demographic group.
The Role of Price Perception in Interest in Buying Smartphones Through Optimization of Product Quality and Brand Image Panjaitan, Feliks Anggia Binsar Kristian; Juharsah; Muhamat, Amirul Afif; Damau, Unika Oktaviani; Panjaitan, Hotman
Jurnal Aplikasi Bisnis dan Manajemen Vol. 10 No. 2 (2024): JABM, Vol. 10 No. 2, Mei 2024
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.10.2.447

Abstract

Background: Business actors must be free to determine product prices, which of course must be proportional to the quality of the products offered, this is important because businesses often ignore product quality when emphasizing price perceptionsPurpose: The goal of this research was to assess the impact of product quality, brand image, and price perceptions on consumer purchasing interest, as well as if pricing perceptions are an effective mediator.Design/methodology/approach: Structural Equation Modeling was then used to examine the data. Findings/Result: The data indicate that product quality and price perception both positively influence purchasing intention, although price perception does not. Price perception, according to research, influences the relationship between product quality and brand image on purchase intention. Conclusion: According to this study, smartphone product quality with appealing features, durability, and cheap prices increases consumer purchasing interest.Originality/value (State of the art): Many studies have examined consumers' buying interest, but few have examined price perception as a mediating factor, particularly when it comes to buying interest. The purpose of this study was to close this gap and develop a model that included price perception as a mediating variable.
Determinants of Islamic Banks’ Stability in Malaysia and Indonesia Saddam, Siti Zaitun; Jaafar, Mohamad Nizam; Muhamat, Amirul Afif; Nizam, Nurien Syahirah Mohd; Halim, Nurin Aqilah
Indonesian Capital Market Review Vol. 16, No. 1
Publisher : UI Scholars Hub

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Abstract

The economic prosperity of any nation relies on its banking sector, which serves as the linchpin of the economy. This paper investigates key bank-specific factors influencing the stability of Islamic banks in Malaysia and Indonesia from 2012 to 2021. Using panel data analysis, the study identifies the fixed effect model as the optimal approach. The subsequent fixed effect regression analysis highlights the significance of the cost-to-income ratio in determining financial stability for both Malaysian and In- donesian Islamic banks. Notably the study reveals that the non-performing loan ratio is the primary stability indicator in Malaysia, while Indonesian counterparts prioritize maintaining a robust capital adequacy ratio. The study recommends vigilant regulatory oversight of capital adequacy and prudent expense management to safeguard banks against instability, fostering sustained financial health and success.
Do Environmental Risks Explain the Sovereign Sukuk Yields in Malaysia? Mohamad Shafi, Roslina; Shaharuddin, Norhasimah; Bakar, Norsaliza Abu; Muhamat, Amirul Afif; Tabash, Mosab I.
Indonesian Capital Market Review Vol. 17, No. 1
Publisher : UI Scholars Hub

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Abstract

Given the increasing risks posed by environmental degradation, severe climate change, and recent pandemics, the establishment of a sustainable economy has become a priority for numerous nations. From this perspective, it is crucial to emphasize sustainable finance since it has the potential to serve as a vehicle for accomplishing a green economic agenda. Sovereign sukuk held a prominent position in the sukuk market, both domestically and internationally, but its influence was particularly significant inside the domestic sphere. The study seeks to examine the link between environmental risks and the yield performance of sovereign sukuk. Sukuk performed less favourably compared to other asset classes in terms of including environmental risk in the calculation of yield. Therefore, it is crucial to conduct additional investigation into the impact of environmental concerns on sukuk yields. The analysis includes Ordinary Least Squares (OLS) and quantile regression techniques, using data from the period 1990-2021. This study examines the relationship between market variables, environmental risk, and sukuk yields in Malaysia. The paper demonstrates that both market variables and environmental concerns have an impact on the yields of sovereign sukuk. Additionally, it introduces a novel approach for modelling these yields.
Examining the Industrial Impact of Fintech Lending in the Post-Next Normal Era Ramdhan, Nur 'Asyiqin; Bujang, Imbarine; Muhamat, Amirul Afif; Lisdiono, Purwatiningsih
Indonesian Capital Market Review Vol. 17, No. 1
Publisher : UI Scholars Hub

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Abstract

The financial sector has undergone a substantial paradigm shift as a consequence of the COVID-19 pandemic prompting industries actively innovate their financing method. Utilizing ARDL, our analysis reveals intriguing insights into the interaction of financing determinants interruptions caused by the epidemic, and the P2P lending success. The long-term effects of economic conditions alluding to the significant influence of investment size across various industrial sectors. The industrial differences suggest interesting connections between the size of investments, and loan tenure to the P2P lending in different industries. The wholesale and retail trade sector demonstrates intricate reactions to changes in investment size, while manufacturing sector impacted by BLR. Conversely, the susceptibility of the agriculture sector to exogenous shocks presents a captivating narrative for the investigation. Our study provides significant contributions to the complex domain of P2P lending in the context of global disruptions.
Capital Market Masterplan 3: Strengthening Malaysia’s Islamic Capital Market for Sustainable Growth: Rencana Induk Pasar Modal 3: Memperkuat Pasar Modal Islam Malaysia untuk Pertumbuhan Berkelanjutan Muhamat, Amirul Afif; Mohamad Nizam Jaafar; Nor Azidah Mohd Zahari
PROCEEDING INTERNATIONAL BUSINESS AND ECONOMICS CONFERENCE (IBEC) Vol. 4 No. 1 (2025): Inspiring Change: Innovating Together for the Future of the Economy
Publisher : Sekolah Tinggi Ilmu Ekonomi Eka Prasetya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47663/ibec.v4i1.407

Abstract

The Capital Market Masterplan 3 (CMP3), introduced by the Securities Commission Malaysia in 2021, provides a strategic five-year framework to advance Malaysia’s Islamic Capital Market (ICM). It aligns Shariah-compliant finance with global sustainability objectives, digital innovation and financial inclusion. This paper examines CMP3’s six strategic pillars catalyzing competitive growth; empowering investors; shaping the stakeholder economy; embedding shared accountability; prioritizing efficiency outcomes; and embracing technology and assesses their grounding in Maqasid al-Shariah and ESG principles. Drawing on qualitative policy analysis and market statistics, this study shows how CMP3 enhances market resilience, broadens access for MSMEs and mid-tier firms, and positions Malaysia as a global Islamic finance hub. This study concludes with recommendations to strengthen regulatory support, harmonize Shariah governance and accelerate digital transformation to realize CMP3’s vision fully.
Co-Authors Bakar, Norsaliza Abu Basri, Mohd Faizal Bujang, Imbarine Damau, Unika Oktaviani Halim, Nurin Aqilah Heny Hendrayati Hotman Panjaitan Ikaputera Waspada, Ikaputera Imas Purnamasari Jaafar, Mohamad Nizam Juharsah Karim, Norzitah Abdul Lisdiono, Purwatiningsih Maya Sari Mohamad Nizam Jaafar Mohamad Shafi, Roslina Nizam, Nurien Syahirah Mohd Nor Azidah Mohd Zahari Nugraha Nugraha Panjaitan, Feliks Anggia Binsar Kristian Ramdhan, Nur 'Asyiqin Roslan, Azreen Saddam, Siti Zaitun Shaharuddin, Norhasimah Tabash, Mosab I. Tia Yuliawati