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All Journal al-Uqud : Journal of Islamic Economics Indonesian Capital Market Review
Jaafar, Mohamad Nizam
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Economics, Econometrics & Finance

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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.
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.
Co-Authors Basri, Mohd Faizal Halim, Nurin Aqilah Karim, Norzitah Abdul Muhamat, Amirul Afif Nizam, Nurien Syahirah Mohd Roslan, Azreen Saddam, Siti Zaitun