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All Journal Global Review of Islamic Economics and Business Jurnal Ekonomi & Keuangan Islam
Hassanudin Mohd Thas Thaker
Department of Economics and Finance, Sunway University, Malaysia
Economics, Econometrics & Finance

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Covid-19, Financial Markets (Islamic vs Non-Islamic), and Exchange Rate: Does the Malaysian Market Offers Diversification Opportunities to the Investors? Hassanudin Mohd Thas Thaker; K. Chandra Sakaran
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-02

Abstract

We explore the impact of Covid-19 towards Islamic and non-Islamic financial markets in Malaysia. We employ the wavelet coherency approach (WCA) which allows a deeper investigation of the relationship between the selected variables in terms time-frequency domain. We document that (i) Islamic capital markets represented by FTSEBMEI and MyETFDJIMMT25 are performing better during the Covid-19 period and also offer a greater investment opportunity to the investors for diversification purposes, (ii) non-Islamic index, FTSEBMKLCI, was less affected during this pandemic, and the market offers better risk and optimal diversification benefits to the investors as time progresses, and (iii) exchange rate appears to be more stable and within the phase category, indicating the co-movements are relatively strong in smaller scales. Understanding the impact of Covid-19 on the financial markets will lend to a better portfolio investment design which considers return and risk.
A discourse on the potential of crowdfunding and Islamic finance in the agricultural sector of East Java, Indonesia Hassanudin Mohd Thas Thaker; Ahmad Khaliq; K Chandra Sakaran; Mohamed Asmy Mohd Thas Thaker
Jurnal Ekonomi & Keuangan Islam Volume 6 No. 1, January 2020
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol6.iss1.art2

Abstract

The contribution of the agricultural sector towards East Java’s Gross Domestic Product (GDP) in 2008 recorded at 16.55%, however, it shrinks to 13.75% in 2015. This statistic shows the regressed contribution of the agriculture sector in comparison to other economic sectors. One common view that linked to shrinking in credit composition is due to the lack of credit accessibility for the sector. Given this issue, this paper attempts to propose a viable financing model to develop the agricultural sector in East Java known as Integrated Agricultural Land Crowdfunding Model (IALCM) using Islamic financing instruments in form of a crowd funding platform. This model is expected to offer farmers in East Java to meet their liquidity constraints and the Indonesian government to accelerate social entrepreneurship innovation. Lastly, several challenges and conceivable recommendations have been deliberated for the development of the agricultural sector in East Java.
Co-Authors Ahmad Khaliq K Chandra Sakaran K. Chandra Sakaran Mohamed Asmy Mohd Thas Thaker