Asmadi Mohamed Naim
Islamic Business School, Universiti Utara Malaysia

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The Reviews on Sustainable and Responsible Investment (SRIs) Practices According to Maqasid Shariah and Maslahah Perspectives Muhammad Zarunnaim Haji Wahab; Asmadi Mohamed Naim
ETIKONOMI Vol 20, No 2 (2021)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v20i2.18053

Abstract

The present study aims to explore SRIs practices based on Maqasid Shariah and Maslahah's points of view. A qualitative method via content analysis document was advocated to address the link between all concepts. The analysis revealed that SRIs, Maqasid Shariah and Maslahah share similar aims and goals to promote better environmental practices and social and governance issues. Thus, the paper concludes that the concept of SRIs does not contradict Maqasid Shariah and Maslahah in Islamic perspectives. However, a few criteria in the Environmental, Social and Governance (ESG) concept that govern the SRIs practices like promoting human rights, freedom of expression, and censorship need further clarification to align with Shariah principles. The paper can enlighten the reader, especially in terms of the capabilities of SRIs practices (which is from West philosophy) to suit Maqasid Shariah and Maslahah in Islamic perspectives.JEL Classification: G2, G4, I13, N2How to Cite:Wahab, M. Z. H., & Naim, A. M. (2021). The Reviews on Sustainable and Responsible Investment (SRIs) Practices According to Maqasid Shariah and Maslahah Perspectives. Etikonomi, 20(2), xx – xx. https://doi.org/10.15408/etk.v20i2.18053.
What Determines Sukuk Market Development? New Theoretical Insights Ameen Ullah Aman; Asmadi Mohamed Naim; Mohamad Yazid Isa
Global Review of Islamic Economics and Business Vol 7, No 1 (2019)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (227.175 KB) | DOI: 10.14421/grieb.2019.071-02

Abstract

In recent past, the Asian economies faced various financial crises, 1997 & 2008, because of underdeveloped or small capital markets. Most of the countries continued to heavily depend on the mere banking system for sovereign and corporate financing needs which made the region repeatedly vulnerable to the crises state. Therefore, the last decade has witnessed the remarkable growth in the alternative arrangement in the form sukuk and bond markets. The academic literature on the topic mainly focuses on bond market ignoring largely the determinants of sukuk market. Using content analysis approach, this conceptual study proposes the theoretical relationships of sukuk with some new possible determining factors along with some other factors which have not received enough attention in the literature. The study focuses on the dynamics of foreign capital inflows, macroeconomic and financial variables with respect to sukuk market development.