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A Comparative Analysis of Shariah Governance Framework of Islamic Bank in Malaysia and Pakistan Ahmad, Zaki; Muneeza, Aishath; Rahman, Md. Mahfujur; Mahomed, Ziyaad
Talaa : Journal of Islamic Finance Vol. 3 No. 1: June 2023
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v3i1.726

Abstract

The aim of this paper is to investigate the differences between the contemporary Shariah governance frameworks of Malaysia and Pakistan. The study also examines the ways in which the Shariah governance frameworks of both countries can complement each other. This research concludes that the SGF principles of both countries under discussion abide by the AAOIFI and IFSB guidelines regarding SGF. Many aspects of the SGF of Malaysia are similar to the SGF of Pakistan. For example, both structures need to further develop the ethical aspect. While the similarities are plentiful, a few differences can be found between the two as well. This research provides insights to policy makers, regulators, and practitioners on approaches in governance policy and an assessment of the governance scope adopted by Malaysia and Pakistan via their respective SGFs. The SGFs have also been assessed for their conformance to international standards, including the AAOIFI and the IFSB.
GREEN SUSTAINABILITY AND FINANCIAL PERFORMANCE OF HALAL FOOD COMPANIES: EVIDENCE OF MALAYSIA Rahman, Md Mahfujur; Ahmad, Zaki; Mokal, Mahvish Nawaz; Aziz, Muhamad Fikri; Mhd Khotib, Nor Aina
Journal of Islamic Monetary Economics and Finance Vol 10 No 4 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i4.2003

Abstract

With growing concerns about environmental degradation and its impact on global ecosystems, the Halal food industry is facing increasing scrutiny and pressure to adopt sustainable practices. This research examines the relationship between green sustainability and the financial performance of Halal food companies in Malaysia. Applying a dynamic panel modelling to a sample of 75 companies over 10 years, we document diverse effects of sustainable practices on firms’ financial performance. More specifically, we note that efficient material usage is positively associated with both Return on Assets (ROA) and Tobin's Q (TBQ). Likewise, by reducing costs and enhancing the company's public image, effective emission management boosts both ROA and TBQ. However, energy-related initiatives negatively impact both ROA and TBQ. Biodiversity efforts, although costly in the short term, contribute to improved long-term market valuation. In a similar vein, while its decreases short-term profitability, environmental sustainability positively influences market valuation. Finally, water management initiatives often lead to decreased ROA and TBQ, which possibly is related to their high costs. From the results, policymakers should support efficient material usage and emission management through incentives to enhance profitability and market valuation. Additionally, they should consider providing financial assistance for biodiversity and environmental compliance initiatives while evaluating ways to mitigate the high costs associated with energy and water management to ensure sustainable industry growth. ACKNOWLEDGMENT We extend our sincere gratitude to the Institute of Halal Management, Islamic Business School, University Utara Malaysia, and the Research and Innovation Management Centre (RIMC) for their invaluable support and contribution to our current research. The institutional support from both entities has greatly enriched our study, emphasizing the significance of sustainable practices in the Halal food industry.
Targeted Metabolic Engineering of Saccharomyces cerevisiae for High-Efficiency Valorization of Lignocellulosic Biomass into Superior-Quality Bioplastics Diana, Nur; Ahmad, Zaki; Fajic, Selma
Natural Sciences Engineering and Technology Journal Vol. 5 No. 2 (2025): Natural Sciences Engineering and Technology Journal
Publisher : HM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37275/nasetjournal.v5i2.70

Abstract

The global transition towards a sustainable circular bioeconomy urgently requires innovative platforms for converting renewable waste streams into value-added products. Lignocellulosic biomass, particularly agricultural residue like rice straw, stands as a vast, underutilized carbon source. This study details the systematic metabolic engineering of Saccharomyces cerevisiae for the high-efficiency production of poly(3-hydroxybutyrate) (PHB), a biodegradable bioplastic, from rice straw hydrolysate. A multi-faceted synthetic biology approach was implemented in S. cerevisiae CEN.PK2-1C. A robust xylose co-utilization pathway was integrated using codon-optimized genes from Scheffersomyces stipitis. The PHB biosynthesis pathway from Cupriavidus necator was introduced using a cassette of strong, constitutive yeast promoters (pTDH3, pTEF1, pPGK1). To maximize carbon flux towards PHB, key competing pathways were eliminated via CRISPR-Cas9-mediated gene knockouts of the primary alcohol dehydrogenase (ADH1) and glycerol-3-phosphate dehydrogenase (GPD1) genes. The performance of the final engineered strain was evaluated in high-cell-density fed-batch fermentation using detoxified rice straw hydrolysate sourced from Palembang, Indonesia. The final engineered strain, YL-PHB-05 (Δadh1 Δgpd1), demonstrated superior performance. In fed-batch bioreactor cultivation, it achieved a final cell dry weight of 33.8 ± 1.5 g/L and a PHB titer of 15.2 ± 0.7 g/L, with an intracellular PHB accumulation of 45.0 ± 1.2% of cell dry weight. This corresponds to a high yield of 0.28 g PHB per gram of consumed sugars. Crucially, the produced PHB exhibited a superior weight-average molecular weight (Mw) of 1.2 x 10⁶ Da with a polydispersity index of 2.1. In conclusion, this work successfully demonstrates a robust strategy for engineering S. cerevisiae into an efficient cell factory for producing high-quality bioplastics from a globally relevant agricultural waste stream. The high titers, yields, and superior polymer properties achieved present a significant advancement towards establishing an economically viable and sustainable process for bioplastic production within a circular bioeconomy.
Ensuring Halal Product Integrity and an Investigative Study of U.S Policy Practices Rahman, Md Mahfujur; Ahmad, Zaki
Journal of World Science Vol. 3 No. 1 (2024): Journal Of World Science
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/jws.v3i1.528

Abstract

Anticipating a significant rise to 27% of the global population by 2030, the halal industry is garnering noteworthy attention worldwide. This study provides a comprehensive investigation of halal industrial players with the elements of products and the United States' regulatory landscape. It aims to scrutinize the hurdles faced by the halal industry and gauge the effectiveness of prevailing policies. The research methodology encompasses a series of phone interviews with industry experts, complemented by extensive desktop research encompassing research papers, articles, journals, textbooks, and news reports. This study is guided by three primary research objectives. It aims to gain insights from key industry stakeholders, understand non-halal elements in products beyond meat in the Muslim market, and evaluate halal industry policies in the United States, emphasizing their origins and the role of independent organizations in ensuring compliance. The findings illuminate prevalent policy adoption and underscore the paramount importance of standardized approaches and stringent oversight within the halal industry. Thus, the current research offers invaluable insights into the dynamic landscape of halal products and policies in the United States, enriching the ongoing discourse on the industry's trajectory and sustainability.
GREEN SUSTAINABILITY AND FINANCIAL PERFORMANCE OF HALAL FOOD COMPANIES: EVIDENCE OF MALAYSIA Rahman, Md Mahfujur; Ahmad, Zaki; Mokal, Mahvish Nawaz; Aziz, Muhamad Fikri; Mhd Khotib, Nor Aina
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 4 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i4.2003

Abstract

With growing concerns about environmental degradation and its impact on global ecosystems, the Halal food industry is facing increasing scrutiny and pressure to adopt sustainable practices. This research examines the relationship between green sustainability and the financial performance of Halal food companies in Malaysia. Applying a dynamic panel modelling to a sample of 75 companies over 10 years, we document diverse effects of sustainable practices on firms’ financial performance. More specifically, we note that efficient material usage is positively associated with both Return on Assets (ROA) and Tobin's Q (TBQ). Likewise, by reducing costs and enhancing the company's public image, effective emission management boosts both ROA and TBQ. However, energy-related initiatives negatively impact both ROA and TBQ. Biodiversity efforts, although costly in the short term, contribute to improved long-term market valuation. In a similar vein, while its decreases short-term profitability, environmental sustainability positively influences market valuation. Finally, water management initiatives often lead to decreased ROA and TBQ, which possibly is related to their high costs. From the results, policymakers should support efficient material usage and emission management through incentives to enhance profitability and market valuation. Additionally, they should consider providing financial assistance for biodiversity and environmental compliance initiatives while evaluating ways to mitigate the high costs associated with energy and water management to ensure sustainable industry growth. ACKNOWLEDGMENT We extend our sincere gratitude to the Institute of Halal Management, Islamic Business School, University Utara Malaysia, and the Research and Innovation Management Centre (RIMC) for their invaluable support and contribution to our current research. The institutional support from both entities has greatly enriched our study, emphasizing the significance of sustainable practices in the Halal food industry.
Analisis Penerapan Teknologi Blockchain Pada Pemenuhan Kebutuhan Pangan Dalam Sektor Industri Pertanian Martina, Lidya; Khansa, Siti; Ahmad, Zaki
Jurnal Agrifoodtech Vol. 3 No. 1 (2024): Juni : Jurnal Agrifoodtech
Publisher : Universitas 17 Agustus 1945 Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56444/agrifoodtech.v3i1.1538

Abstract

Teknologi blockchain menawarkan solusi inovatif untuk meningkatkan transparansi, efisiensi, dan keamanan dalam sektor pertanian. Penelitian ini mengkaji potensi dan tantangan implementasi teknologi blockchain di sektor pertanian melalui meta-analisis sepuluh jurnal. Hasil penelitian menunjukkan bahwa blockchain dapat memfasilitasi pelacakan produk secara real-time, mengurangi penipuan, dan meningkatkan manajemen persediaan. Studi kasus pada rantai pasok produk organik mengungkapkan bahwa blockchain memungkinkan konsumen memverifikasi asal produk, meningkatkan kepercayaan, dan membantu petani mendapatkan harga yang lebih baik. Integrasi blockchain dengan Internet of Things (IoT) dan kecerdasan buatan (AI) juga menunjukkan potensi besar dalam meningkatkan produktivitas dan efisiensi. Namun, tantangan utama seperti kurangnya pengetahuan petani dan biaya implementasi yang tinggi perlu diatasi melalui pelatihan, dukungan teknis, dan kolaborasi antara pemerintah, lembaga pendidikan, dan sektor swasta. Proyek percontohan di beberapa wilayah menunjukkan keberhasilan awal, dan pengembangan lebih lanjut akan meningkatkan adopsi teknologi ini. Kesimpulannya, dengan dukungan yang tepat, blockchain memiliki potensi untuk merevolusi sektor pertanian, meningkatkan kesejahteraan petani, dan menjamin kualitas produk bagi konsumen. Implementasi yang sistematis dan kolaboratif akan memastikan bahwa teknologi ini dapat memberikan manfaat jangka panjang bagi seluruh pemangku kepentingan dalam rantai pasok pertanian.
Harmony in Halal: Understanding Stakeholder Views Analyzing Products and Evaluating Policies in Malaysia Ahmad, Zaki; Mafaz, Mohamed Normen Ahamed; Rahman, Dr Md Mahfujur
West Science Business and Management Vol. 1 No. 05 (2023): West Science Business and Management
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsbm.v1i05.358

Abstract

This study examines Malaysia's crucial role in the global Halal market, focusing on stakeholder perspectives, product analyses, and policy evaluations. Interviews with key industry players and coupled with a phone interview reveal diverse insights. Stakeholders emphasize the industry's commitment to producing lawful consumer goods and highlight challenges in community understanding. The analysis of products sold in the Muslim market, excluding meat, unveils common non-Halal elements, underscoring the intricate balance required for Shariah law compliance. A detailed examination of Malaysia's Halal industry policies, covering certification procedures, auditing, and monitoring, highlights the nation's proactive approach. The study concludes that Malaysia's commitment, invigorated by the Halal Industry Development Corporation, significantly contributes to setting high global standards. By harmonizing stakeholder views, dissecting product realities, and evaluating policy effectiveness, this research provides a comprehensive understanding of Malaysia's Halal industry dynamics. The insights gleaned are valuable for academics, industry practitioners, policymakers, and consumers navigating the dynamic landscape of the Halal market.