Journal of Management and Muamalah 2023-12-05T11:26:08+08:00 Chief Editor Open Journal Systems <p><a href=""><img src="" alt="" width="1903" height="686" /></a></p> <p>The Journal of Management and Muamalah (JMM) is a refereed journal published by Faculty of Management &amp; Muamalah, Selangor Islamic University. This journal is committed to the advancement of scholarly research, knowledge and innovations in all areas related to management and muamalah. Articles are published in both English and Malay.</p> <p>This journal applies double-blind review, which means that both the reviewer and author identities are concealed from the reviewers, and vice versa, throughout the review process.</p> <p><strong>Aim &amp; Scopes</strong></p> <p>Contribution of articles is sought from all functional areas of social science such as economics, marketing, management, finance, accounting, human resource development and muamalah, Islamic commercial transactions, conventional and Islamic business and management, halal management and risk management.</p> <p><strong>Publication Frequency </strong></p> <p>e-Journal Management and Muamalah is published biannually (<strong>June</strong> and <strong>November</strong>).</p> <p><a href=""><img src="" alt="" width="199" height="81" /></a><a href=""><img src="" alt="" width="323" height="119" /></a><a href=";user=53S3O3wAAAAJ"><img src="" alt="" width="199" height="81" /></a><img src="" alt="" width="199" height="81" /></p> Risk-Taking in Islamic Debt Financing: Maqasid Perspective 2023-10-17T01:23:57+08:00 Muhammad Shahrul Ifwat Ishak <p>Since the past six decades of its emergence, Islamic banking industry has been widely recognized as an alternative financial system since it could offer similar services like its conventional counterpart. Islamic banking products must be free from Shariah prohibited elements, mainly riba’ which is strongly forbidden. In fact, riba’ is characterised with the risk absence which the risk is fully transferred to one party, resulting this practice is part of exploitation and discrimination. Alternatively, Shariah allows any financial contract as far as it is fair in terms of risk-taking among involved parties. Nevertheless, the current financings offered by Islamic banks particularly debt-based ones are claimed similar to conventional loan. Debt-based financings are systematically organized, by transferring the whole risk to customers in which it should be borne by both parties. However, others said those financings are still exposed to a certain degree of risk. Thus, this paper aims to analyse the issue of risk-taking in debt-based financing from the perspective of M. This subject provides a holistic view on Shariah as well as it plays a significant role in harmonizing between revelation and reality. Based on library research, it is found that there is no strong evidence that debt-based financings should be prohibited because of the issue of risk-taking. Nevertheless, controversial practices that surrounded with those financings should be considered by Islamic finance players. While this study has limitation in terms of the data, it provides a philosophy discussion and deep analysis on the issue.</p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah Comparative Analysis of Had Kifayah and Multidimensional Poverty Index as Poverty Measurement in Malaysia 2023-11-07T02:40:09+08:00 Muhammad Nooraiman Zailani Najihah Abd Razak <p>The measurement of poverty is an essential instrument for comprehending the socio-economic well-being of a nation’s population and devising effective strategies to mitigate it. Currently, zakat institutions in Malaysia rely on the Had Kifayah (HAK) method to categorise an individual's poverty status by classifying their asnaf status. On a larger scale, the establishment of the Multidimensional Poverty Index (MPI) presents an alternative method for assessing poverty, emphasising the non-monetary dimensions of deprivation that individuals may experience. This study conducts a comparative analysis of two distinct poverty measurement frameworks, namely, HAK and the MPI to assess their applicability and effectiveness in capturing the multifaceted nature of poverty in Malaysia. The study employed an extensive literature review and comparative analysis of the two different poverty measurement tools. The findings of this study contribute to the ongoing debate surrounding the choice of poverty measurement tools in Malaysia. It sheds light on the advantages and shortcomings of both Had Kifayah and the MPI in capturing the complex and evolving nature of poverty in the country. The study recommends that zakat institutions complement the HAK method by incorporating the MPI, which can effectively measure the degree of deprivation that an asnaf may encounter.</p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah The Factors Influence on the Buying Interest among Muslim Consumers of Micro, Small and Medium Enterprises' Snacks in Pasar Lama Tangerang, Indonesia 2023-11-14T13:16:40+08:00 Noviana Prasanti Mufti Afif Mufti Ahmad Suminto Suminto Gilang Pangestu Taufiqul Alvin Abidin <p>Pasar Lama Tangerang is a famous culinary destination in Tangerang that has been attracting tourists for decades. MSMEs (Micro, Small and Medium Enterprises) in the existing food and beverage sector dominate the market and attract interest from various groups. This study aims to examine the influence of Attitudes, Social Factors, Behavioral Control, Religiosity, and Location on Interest in Buying Snacks for Muslim Consumers in Pasar Lama Tangerang. The research involved distributing questionnaires to 100 Muslim consumers, using a non-probability sampling method known as Purposive Sampling. The collected data were analyzed using multiple linear regression analysis in the SPSS program. The results of the study show that social factors and behavioral control have a significant effect on the buying interest of Muslim consumers. Meanwhile, Attitude, Religiosity and Location do not show a significant influence on the buying interest of Muslim consumers at Pasar Lama Tangerang.</p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah Kajian Literatur Kesan Pengembangan Latihan Dalam Talian melalui Integrasi Teori Komunikasi Islam dan Teori Emosi Paul Ekman terhadap Latihan yang Berkesan 2023-11-24T09:51:59+08:00 Afnan Abdulfatah Haron Azharuddin Hashim <p>Dalam era digital yang terus berkembang, aplikasi latihan dalam talian menjadi kaedah alternatif dalam meningkatkan keterampilan dan pengetahuan manusia. Walaupun kaedah ini menjadi terkenal kerana ia menawarkan peluang untuk mengikuti pelbagai jenis program latihan serta mempelajari ilmu tanpa batas geografi, perkara yang menjadi persoalan utama adalah tentang keberkesanan program latihan tersebut. Penelitian ini akan mengkaji adakah komunikasi yang berkesan akan memberikan impak terhadap keberkesanan program latihan tersebut. Kajian ini bertujuan untuk memberikan pandangan serta potensi dengan mengintegrasikan teori-teori Islam dan barat dalam keberkesanan program latihan. Dalam kajian ini, penyelidikan kualitatif digunakan dengan pengumpulan data melalui pembacaan penyelidikan lepas. Data dikumpul secara triangulasi bagi meningkatkan kesahan data. Hasil kajian mendapati bahawa integrasi kedua-dua teori ini mampu meningkatkan lagi keberkesanan program latihan terutama dalam aspek komunikasi di antara kedua-dua belah pihak semasa sesi latihan. Hasil kajian ini diharap dapat memberikan maklumat untuk mengenal pasti ekspresi emosi dan pemahaman tentang tindakbalas emosi dalam sesi latihan. Ianya juga diharap akan memberikan pemahaman yang lebih mendalam tentang penerapan Teori Komunikasi Islam dan Teori Emosi Paul Ekman semasa sesi latihan dalam talian.</p> <p><em>In the digital era, online training has gained popularity as an alternative to improve knowledge and skills. The ability to access knowledge from anywhere in the world is one of the main reasons why online training has become so popular. However, many people are still not sure how beneficial these online training really are. The purpose of this study is to determine if good communication affects the effectiveness of the training program. This study aims to shed light on how Islamic and Western theories, specifically Paul Ekman's theory of emotion and Islamic communication theory, could be integrated to increase the effectiveness of training programs. Using qualitative research methodology, data is collected by reviewing previous studies. To improve the veracity of the data, it is triangulated. The findings of the study suggest that the incorporation of both Paul Ekman’s theory of emotion with Islamic communication theory can further improve the effectiveness of the training program, especially in communication between instructors and trainees during the session. The findings of the study are expected to offer guidance for recognizing emotional displays and understanding emotional responses during training.</em></p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah Faktor yang Mempengaruhi Pengurusan Kewangan Mahasiswa Prasiswazah: Kajian Kes di Universiti Islam Selangor 2023-11-07T02:55:01+08:00 Nurauliani Jamlus Rafdi Nor Suhaily Bakar Safura Ahmad Sabri Ahmad Faisal Alimi Roshadi <p>Kajian ini bertujuan untuk mengenalpasti faktor yang mempengaruhi pengurusan kewangan dalam kalangan mahasiswa prasiswazah di Universiti Islam Selangor (UIS). Faktor yang terlibat dalam kajian ini adalah literasi kewangan, sumber pembiayaan dan pengurusan perbelanjaan. Kaedah kuantitatif berbentuk tinjauan persampelan mudah menjadi pilihan pengkaji yang melibatkan set borang soal selidik yang mengandungi 20 item berskala likert sebagai instrumen kajian. Responden melibatkan 310 orang pelajar Diploma dan Ijazah Sarjana Muda di Fakulti Pengurusan dan Muamalah (FPM) di UIS. Perisian <em>Statistical Package for Social Sciences</em> (SPSS) versi 22 telah dipilih pengkaji untuk menganalis data yang diperoleh menggunakan kaedah analisis deskriptif dan regrasi berganda. Hasil kajian mendapati literasi kewangan dan pengurusan perbelanjaan mempengaruhi pengurusan kewangan mahasiswa manakala sumber pembiayaan tidak mempengaruhi pengurusan kewangan mahasiswa.</p> <p><em>The aim of this study is to identify factors that influence financial management among undergraduate students at Universiti Islam Selangor (UIS). Factors involved in the study are financial literacy, sources of fund and spending management. Quantitative method using convenience sampling survey is adopted by the researchers which involves a set of questionnaires containing 20 likert-scale items as an instrument of this study. The respondents involved 310 Diploma and Bachelor's Degree students at the Faculty of Management and Muamalah (FPM), UIS. The Statistical Package for Social Sciences (SPSS) version 22 software was selected by researchers to analyze the data obtained using descriptive analysis and multiple regression methods. The results of the study found that financial literacy and spending management influenced the financial management of undergraduate students meanwhile funding sources did not affect the financial management of undergraduate students.</em></p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah Analysis of Fraud Pentagon and Good Corporate Governance in Indonesian Financial Companies 2023-11-23T10:07:11+08:00 Dwi Puryati Silvia Fudjiyani Putri Lintang Permatasari <p>This research will explore the practice of fraud on financial statement and the factors that affect according to Fraud Pentagon Theory using Good Corporate Governance (GCG) as a moderating variable. The research method uses in this study is associative which to examine the relationship to financial statement fraud and the elements that affect fraud are opportunities, pressure, rationalization, competence, and arrogance. Data in the form of secondary datatype obtained from IDX Statistics. Companies specialized in financial sector in which listed on the Indonesia Stock Exchange in 2021 will be used as the study population. The sampling method uses purposive and a sample of 92 companies. The result exhibits the variables of financial stability, external pressure, competence, and arrogance are having a significant effect upon the fraudulent financial reporting. Financial targets, opportunities, and rationalization have a non-significant effect upon the fraudulent financial statement. Good corporate governance does not moderate the relationship between financial targets, opportunities, rationalization, competence, arrogance, and fraudulent financial reporting variables. Good corporate governance moderates the relationship between financial stability, external pressure, and fraudulent financial reporting variables. The outcome from this research can be a recommendation for companies to reduce fraud through implementation strategies and improve the implementation of good corporate governance so that companies can create value and continue to improve their performance.</p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah The Effect of Dow Jones Industrial Average (DJIA) and Macroeconomic Variables on Indonesia’s Sharia Stock Index (ISSI) over the Period 2012-2021 2023-11-27T10:44:36+08:00 Miftahul Huda Aulia Nuri Alfirania Ahmad Suminto M. Afif Haidar Fajlurrahman <p>This research aims to test and analyze the influence of foreign indices in the form of DJIA and macroeconomic variables in the form of inflation, BI-Rate, exchange rate, and world gold prices on ISSI over the period from 2012 to 2021. This research uses quantitative methods with secondary data in the form of time-series. The analytical techniques used are the VAR and VECM. The research used data processing in the form of e-views 12 software. The results of this study show that in the long-term DJIA, BI-Rate, and exchange rate have a significant positive effect on the ISSI. Meanwhile, inflation variables and gold prices in the long term have a significant negative effect on ISSI. In the short-term, only inflation variable has a significant negative effect on ISSI. Meanwhile, other variables in the form of DJIA, BI-Rate, exchange rate, and world gold price did not have a significant effect on the ISSI. The results of this research can be used as additional information and considerations for companies in carrying out policies related to investment and can be used in anticipating the effects of macroeconomic changes for the stability of company value. In such a way, companies are able to consider them when choosing which investments and businesses need to be aware of the macroeconomic factors in a nation that can affect stock performance.</p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah Motivating Factors in Contributing to Socio-Economic Objectives during the Pandemic of COVID-19: The Case of Malaysian Takaful Operators 2023-12-01T17:56:12+08:00 Noor Aimi Mohamad Puad Nurauliani Jamlus Rafdi Norlita Zainudin <p>Malaysian takaful businesses have established their legitimacy with notable gains in market structure and net contribution income. Takaful is one of the most important financial products for wealth protection. Despite its significance, less than 50% of Malaysians as a whole have access to takaful. Takaful operators are governed by pertinent laws in addition to adhering to Shariah standards because they are professional organisations with the authority to operate in providing Shariah-compliant protection coverage to society. The Life Insurance and Family Takaful Framework initiative is one of the approaches from a regulatory perspective. Socioeconomic problems are also seen from the perspective of the Takaful operation institution itself. It is definitely intriguing to learn how the two perspectives are combined to provide the desired result for the entire Malaysian community. The main objective of this study is to explore the motivating factors of Takaful Operators in contributing for socio-economic objectives during the pandemic of Covid-19. To achieve the objective, ten takaful operator respondents will be questioned to get their thoughts on the subject. The research objectives also are in keeping with the Value-Based Intermediation for Takaful (VBIT) framework, which was created to provide inclusive protection for disadvantaged or underserved societal sectors and to solve key socioeconomic challenges.</p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah Understanding Tax Compliance among Sole Proprietors: A Theory of Planned Behaviour Analysis 2023-12-05T11:26:08+08:00 Noor Suhaila Shaharuddin Mohd Rizal Palil Rosiati Ramli Ruhanita Maelah <p><em>Issues related to tax compliance represent a significant challenge for tax administrations worldwide. Addressing these concerns is crucial, as non-compliance can lead to substantial losses in government revenue. Drawing on the Theory of Planned Behavior (TPB) as the foundational theoretical framework, this study investigates the determinants of compliance behavior among sole proprietors. Questionnaires were sent to a sample of sole proprietors in Malaysia and were completed by 225 respondents. The results showed that the TPB variables were able to explain 44.7 percent variance in behavioural intention to comply with the tax laws. The sole proprietors' intention to comply with tax regulations was significantly influenced by their attitude toward compliance and their perceived behavioral control. However, it was observed that subjective norms do not exert any influence on the decision of whether to comply with tax laws or not. The findings imply that tax authorities should prioritize addressing attitudes, as favourable attitudes toward the tax system appear to be a key driver of increased tax compliance among sole proprietors. By fostering positive perceptions and attitudes regarding the tax system, tax authorities may enhance overall compliance levels within this specific taxpayer group. In conclusion, this study contributes to the existing body of tax literature and offers initial insights for Malaysian tax policy makers seeking to comprehend the determinants of behavioral intentions regarding tax compliance</em></p> 2023-11-30T00:00:00+08:00 Copyright (c) 2023 Journal of Management and Muamalah