The application of mobile banking services by Malaysian Islamic banks: an evaluation of the customers’ main concerns

The continuous advancement of financial technologies in the realm of Islamic banking and finance is influenced by the spread of banking digitalization. The digitalization of banking is undeniably related to the expansion and dependency on the use of the Internet among the customers. Instead of depending on physical location, Islamic banks nowadays have ample chances to engage and communicate with their customers through this current online banking platforms. In order to ensure their consistent follow-up with the latest digital transformation, Islamic banks must be ready to adopt the new technology, ready to shift their costs of services to the online applications, and reconsider their corporate structures. Focusing on the application of mobile banking as a prominent part of banking digitalization among Malaysian Islamic banks, it is important to consider their customers’ concerns relating to its usages. Thus, this research focuses (1) on explaining the understanding of what is considered as a mobile banking and its usages among Malaysian Islamic banks and (2) evaluating the concerns among Islamic banks’ customers relating to the use of mobile banking in their daily activities. In doing this research, the researchers apply the qualitative research approaches and content analysis of obtained data from library based research. As part of the findings, it is identified that the customers’ concerns are related to their awareness, knowledge of using the mobile banking, trust toward the safety of their personal information or transactions, and the security of the mobile banking system

A critical appraisal on artificial intelligence: common law and Sharī‘ah

The disruption of innovations through technology in the society continues to indicate a positive trend among users at large. The innovations of technology that stand with speediness and fast track transaction effectively support the spread in using such smart devices without barriers of time and space. Recently, the world continues to be surprised with the latest technology’s innovation that is known as artificial intelligence or can be simple known as A.I. By looking into the ecosystem for future sustainability of legal principles from both Common Law and Sharī‘ah, an evaluation on the use of A. I. should be scrutinized especially with the continuous increase of its usage and dependency in the modern system. This research will look into the position of A.I. and its acceptability from Common Law and Sharī‘ah. It is found that Sharī‘ah never rejects any application of technology, including A.I. While, Common Law is struggling to develop their legal principles specifically relating to A.I., Sharī‘ah has a matured collective legal principles in accepting A.I

Application of mobile banking services by Malaysian Islamic banks: an evaluation on the customers’ main concerns

The continuous advancement of financial technologies in the realm of Islamic banking and finance is influenced with the spread of banking digitalization. The digitalization of banking undeniably related to the expansion and dependency on the use of internet among the customers. Instead of depending on physical location, Islamic banks nowadays have ample chances to engage and communicate with their customers through this current online banking platforms. In order to ensure their consistent follow-up with the latest digital transformation, Islamic banks must be ready to adopt the new technology, ready to shift their costs of services to the online applications and re-consider their corporate structures. Focusing on the application of mobile banking as a prominent part of banking digitalization among Malaysian Islamic banks, it is important to consider their customers’ concerns relating to its usages. Thus, this research focuses (i) to explain the understanding on what is considered as a mobile banking and its usages among Malaysian Islamic banks; and (ii) to evaluate the concerns among Islamic banks’ customers relating to the use of mobile banking in their daily activities. In doing this research, the researchers apply the qualitative research approaches and content analysis of obtained data from library-based research. As part of findings, it is identified that the customers’ concerns are related to their awareness, knowledge in using the mobile banking, trust towards the safety of their personal information or transactions, and the security of the mobile banking system

Combating climate change in Malaysia: Green Sukuk and its potentials

One of the main purposes for the issuance of sukuk is to fund large-scale development projects. With the rising interest for responsible finance and investment, Muslim scholars propose that besides utilizing sukuk an instrument to finance purely developmental projects, sukuk could be used as a vehicle to raise funds for financing various projects that meet the criteria of social and responsible finance. Innovation in the sukuk issuance, for example, green sukuk has played a prominent role in financing infrastructure and renewable energy projects. With the introduction of Sustainable Development Goals (SDGs) by the United Nations in 2015 that strategize to be a blueprint to achieve a sustainable future for all, green sukuk is seen as one of the most potential instruments that can be used in achieving such SDGs. Green sukuk stand with an advantage of a Shariah-compliance financing instrument which, besides meeting the demands from the investors and stakeholders, is also able to provide for a better alternative in a term of social finance discourse. Looking closely into the initiative in combating climate change in Malaysia, this research qualitatively investigates the potential and roles of green sukuk in leading the trend in eco-friendly investments and development projects. The research found that there is a positive trend among investors towards issuing green sukuk that are based on eco-friendly investments and development projects

Combating climate change in Malaysia: critical appraisal on Sukuk as an Islamic social finance instrument

Sukuk are majorly used to raise funds in a large scale for the purpose of developments. With the increase of interest for responsible finance and investment, sukuk are used to meet such interests from the stakeholders. Instead of only looking for development purposes, Muslim scholars proposed that sukuk could be used for many other different purposes. An innovation of sukuk i.e. green sukuk has played a prominent role in financing infrastructure and renewable energy projects. With the introduction of Sustainable Development Goals (SDGs) by the United Nations in 2015 that strategize to be a blueprint to achieve sustainable future for all, green sukuk are looked up to as one of the most potential instruments that can be used in achieving such SDGs. Green sukuk stand with an advantage of a Shariah-compliance financing instrument that not only meet the demands from the investors and stakeholders; but also, it is able to provide a better alternative in a term of social finance discourse. Looking closely into the initiative in combating climate change in Malaysia, this research qualitatively investigates the potential and roles of green sukuk in leading the trend in eco-friendly investments and development projects. As a finding, there is a positive trend among investors towards green sukuk that are based on eco-friendly investments and development projects