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All Journal Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Business and Sustainability
bayram, kamola
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Economics, Econometrics & Finance Social Sciences

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Islamic Versus Conventional Stock Market Indices Performance: Empirical Evidence from Turkey bayram, kamola; Abdullah Othman, Anwar Hasan
IQTISHADIA Vol 12, No 1 (2019): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v12i1.4631

Abstract

Rapid growth of Islamic finance in general and Sharī`ah compliant stocks in particular arises the question whether Islamic funds/stocks have a better performance or there is no significant difference with the performance of conventional counterparts. This study has twofold objectives, firstly to compare the performance of Islamic and conventional stock market indices in Turkey, namely KATILIM50 and BIST 100 by using Two-Sample Test of Hypothesis over the period of 15 May 2015 to 31 December 2016.  Secondly, to examine the causal relationship between both stocks markets indices in the short-run using Granger (1969) Causality Test. The findings of parametric Z-test reveals that there is no statistical significant difference between the performance of both indices the KATILIM 50 index and BIST 100 index in Turkey Stock Exchange Market during the time frame of the study.  Further, the Granger Causality findings indicate the absence of causal relationship between the two stock markets indices in the short-run. This suggests that stock markets in Turkey are informationally efficient and non-violated with the Efficient Market Hypothesis with respect to the available information of both indices. The findings of this study therefore will provide useful channel for Muslim investors to fully participate in the Turkish capital market that is Sharī`ah complaint and fulfil their religious belief without sacrificing any financial performance.
Modeling Integrated Waqf-Sukuk for Climate Action (SDG13) Rusydiana, Aam Slamet; Sukmana, Raditya; Laila, Nisful; Bayram, Kamola
Business and Sustainability Vol. 2 No. 2 (2023): Business and Sustainability
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/bs.v2i2.367

Abstract

The discussion on tackling climate change is summarized in the thirteenth SDGs goal. On the other hand, waqf is an instrument of Islamic social funds that has a sustainable nature and has the relevance of waqf to the SDGs, so it has the potential to be developed in its role in fighting climate change and its impacts. This study seeks to see the waqf model that is relevant to the goals of the SDGs by determining the priority of the waqf model that can be applied in Indonesia which is in line with the objectives of SDGs 13 using ANP method. The results of the study indicate that the Waqf & Sukuk model is the right model to support the achievement of the thirteenth goal of the SDGs, namely climate change management. This study also proposes a WOFI (Waqf Owned Financial Intermediary) model framework that is suitable for this purpose.
Co-Authors Aam Slamet Rusydiana, Aam Slamet Abdullah Othman, Anwar Hasan Nisful Laila Raditya Sukmana