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Mohamed Asmy Bin Mohd Thas Thaker
International Islamic University Malaysia, Malaysia
Economics, Econometrics & Finance

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A CASH WAQF INVESTMENT MODEL: AN ALTERNATIVE MODEL FOR FINANCING MICRO-ENTERPRISES IN MALAYSIA Jarita Duasa; Mohamed Asmy Bin Mohd Thas Thaker
Journal of Islamic Monetary Economics and Finance Vol 1 No 2 (2016): FEBRUARY
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (667.687 KB) | DOI: 10.21098/jimf.v1i2.533

Abstract

This study was designed to empirically determine: (i) to look the factors causes micro enterprises opt for using internal funding instead of external funding; and (ii) to observe the probability of micro enterprises opt for Cash Waqf fund as alternative source of funding their business. The primary data is collected from the administered survey questions in Klang Valley (Selangor and Kuala Lumpur) and the analysis is conducted using statistical analysis and Structural Equation Modeling (SEM). The model is validated its acceptance in the field by adopting the Theory of Reasoned Action (TRA). From the findings, among the factors that lead micro enterprises to use internal funding are strict collateral requirement by commercial financial institutions, high cost of financing, strict documentation requirement and good financial and business track record. Unfortunately, most of them cannot fulfill these conditions and continue to face the problem of accessing finance. The present study has developed the Cash Waqf Investment model to support micro enterprises to improve their access to finance and enhance the skills. Based on the responses received from the field, it has been shown that the intention and readiness of micro enterprises in accepting the model as a source of financial and human capital development services is impressive.
MODELLING SMEs’ BEHAVIORAL INTENTION TO ADOPT ISLAMIC CROWDFUNDING-SMALL AND MEDIUM ENTERPRISES (ICSMEs) MODEL AS A SOURCE OF FINANCING IN MALAYSIA Mohamed Asmy Bin Mohd Thas Thaker
Journal of Islamic Monetary Economics and Finance Vol 4 No 2 (2018): NOVEMBER
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (437.984 KB) | DOI: 10.21098/jimf.v4i2.961

Abstract

The present study has proposed Islamic Crowdfunding-Small and Medium Enterprises (ICSMEs) model to assist SMEs in meeting their need to access external financial services in Malaysia. Upon the proposed model, this study examines the behavioural intention of SMEs to use ICSMEs model. The primary data are collected from the survey administered to SMEs in the Klang Valley (n=250) and the analysis is conducted using Partial Least Squares (SmartPLS). Furthermore, the model has been validated its acceptance in the field by adopting the Technology Acceptance Model (TAM). This study has revealed that both the perceived usefulness and perceived easy to use are found to have a positive impact on the behavioral intention of SMEs to use ICSMEs model, which later assist them to access to financial services in Malaysia. Furthermore, perceived easy to use has a positive relationship and direct effect with perceived usefulness of SMEs to use the ICSMEs model. The findings of this study can be used to develop a specific framework in which to examine other components of using the ICSMEs model’s behavior and to plan appropriate intervention strategies to increase financial accessibility by SMEs.
Co-Authors Jarita Duasa