Abdul Ghafar Ismail
International Islamic University Malaysia (IIUM)

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ISLAMIC ENDOGENOUS MONEY: EVIDENCE FROM THE ISLAMIC BANKING SYSTEM IN INDONESIA AND MALAYSIA Umam, Khoirul; Ismail, Abdul Ghafar; Tohirin, Achmad; Sriyana, Jaka
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 3 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i3.1351

Abstract

This paper proposes a theoretical model of endogenous Islamic money and empirically analyses the endogeneity of Islamic money supply under fiat and fractional reserve systems. The causal relations between Islamic money and macro and financial variables are assessed using the autoregressive distributed lag (ARDL) model and error-correction modelling (ECM). The results suggest that the greater the maturity and the larger the asset share in the Islamic financial system, the better the endogeneity of money. They also reveal that the profit and loss sharing system can connect the economy to money, minimise the exogenous potential of the fractional reserve requirement system, and eliminate the exogenous feature of the fiat money system. Accordingly, the study argues that an Islamic endogenous money system can be developed in fiat and fractional reserve banking systems.
ETHICS IN FOCUS: A BIBLIOMETRIC AND CONTENT ANALYSIS OF ISLAMIC BANKING AND FINANCE RESEARCH Zahari, Siti Aisyah; Shahimi, Shahida; Alma’amun, Suhaili; Ismail, Abdul Ghafar
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 2 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i2.1992

Abstract

This study performs a bibliometric analysis of the literature on ethics in Islamic banking and finance (IBF) in the Scopus database. A total of 366 scholarly articles pertaining to the subject of ethics in IBF are analyzed using VOSviewer, Wordstats, Harzing’s Publish or Perish and Microsoft Excel. The development of the literature on ethics in IBF is outlined in this study, along with a list of the most significant authors, as well as relevant nations, groups, and journal sources. Moreover, the study identifies six major clusters namely, corporate image and customer loyalty of IBF, ethical decision making in IBF, Islamic work ethics, IBF standards and supervisory, ethical products and services of IBF, and maqasid al-shariah and IBF. The findings show an increasing number of citations and documents related to ethics in IBF whereby, the journal of "International Journal of Islamic and Middle Eastern Finance and Management" makes a substantial contribution to the field of ethics in IBF, both in terms of number of articles published and citation counts. The study offers the opportunity for future research to focus on these topics. Acknowledgment This paper is part of the research funded by the Faculty of Economics and Management, Universiti Kebangsaan Malaysia under Geran Inisiatif Penyelidikan (EP-2023-016) entitled "The Policy Framework of Ethical Banking for Malaysian Financial Institutions". We would also like to express our gratitude to the participants and discussants of The 9th International Islamic Monetary Economics and Finance Conference (9th IIMEFC), held on 25th October 2023, who provided valuable insights that significantly contributed to the improvement of the paper.
Waqf Sustainability or Sustainable Waqf? A Bibliometric Analysis Qurrata, Vika Annisa; Mohd. Shafiai , Muhammad Hakimi; Alma’amun , Suhaili; Wahid, Hairunnizam; Ismail, Abdul Ghafar
Millah: Journal of Religious Studies Vol. 23, No. 1, February 2024
Publisher : Program Studi Ilmu Agama Islam Program Magister, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/millah.vol23.iss1.art4

Abstract

Research on waqf sustainability is increasing in popularity, showing exponential growth in publication and citation numbers. The realm of research has grown intricate and fragmented, thereby posing a growing challenge to the regulation of waqf sustainability. The main purpose of this study is to organise and integrate the preliminary studies on the theme of waqf sustainability. To this end, this study involved bibliometric analysis, distinguishing it from previous analyses, which were outdated and/or different focus. We collected 84 articles extracted from Scopus and Web of Science (WoS) databases, covering 20 years from 2001 to 2022. The findings showed that the most prolific authors were from Malaysia. There are five research themes regarding waqf sustainability, including the accountability of Islamic social finance as a third-sector economy, the sustainability of Islamic microfinance, the role of intellectual capital in waqf institutions, the effectiveness of management, and the performance measurement of waqf institutions. This study shows that the performance of waqf institutions for waqf sustainability is scant. Hence, there is an important research gap that can be addressed in future research since sustainability is a priority agenda as outlined in the Sustainable Development Goals (SDGs) blueprint.
Mapping Sustainable Development Goals and Constitutional Rules: Looking from Human Rights Approach in Malaysia Ismail, Abdul Ghafar; Markom, Ruzian; Ghafar, Nur Hannani Abdul
Journal of Sustainable Economics Vol. 2 No. 1 (2024): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v2i1.16663

Abstract

The 2015 Sustainable Development Goals (SDGs) provide the UN with a roadmap for development until 2030. The goals would also be subjected to the national agenda. The study explored the associated legal and normative implications of SDGs. The 17 goals and 169 targets of the SDGs covered crucial areas of poverty reduction, climate change, clean water, and access to justice. Combining both thematic and goal-specific analysis, the study establishes the relevance not just of international law, but also of a broader range of normative frameworks including constitutional norms, domestic regulatory law, and human rights. Connecting the SDGs to wider debates in constitutional economics and sustainable development, this study ultimately demonstrates that law has an important constitutive and instrumental role to play in both implementation and analysis. The method used is based on the review of the constitutional provision in Malaysia and major international agreements on sustainable development which are linked to human rights. This relationship will prove invaluable for scholars in the field of sustainable development. Its insightful observations will also provide food for thought for both related international organizations and national government officials.