Islamic Tourism: The Characteristics, Concept and Principles

The Islamic economic sector has grown rapidly in Malaysia and Islamic businesses can be found in a wide range of sectors including culinary, Islamic finance, Islamic takaful (insurance and mortgage) industries, fashion, cosmetics, pharmaceuticals, entertainment, and tourism industries. Islamic tourism, in particular, offers a new means of developing the tourism industry in Malaysia whilst maintaining the ethics, culture and values of Islam. Islamic tourism is not defined as a visit to the mosque alone, but the visit is closely related to nature, culture, or creativity that integrates with Islamic values. Currently, the concept of adherence to Islam (which has been called as Shariah-compliant) has gained traction across the globe. In response to this new lifestyle trend, many countries (including those such as Korea, Japan, Australia, Thailand, and New Zealand which do not have a domestic Muslim majority) are beginning to introduce tourism products related to the halal concept or Islamic orientation. The definition of Islamic tourism is still unclear and encompasses various terms such as Halal Tourism, Halal Friendly Travel Destinations, Halal Travel, Islamic Travel Destinations, and Halal Lifestyle. Even in Malaysia, a leader in this sector, the concept of Islamic tourism is still liminal. However it offers huge potential, both for the country’s tourism sector and the country’s Islamic population, contributing to the preservation and appreciation of Islamic culture in Malaysia. Islamic tourism is not only related to religious values ​​but also must be in line with every way of life that is not contrary to Islam. Not many companies and agencies organize halal tourism packages because they think it is not a necessity and a profit. Many companies are more focused on routine Islamic tourism such as Umrah and Hajj. This paper considers in detail the characteristics, concept and principles of Islamic tourism

Kefahaman masyarakat Islam terhadap kewangan dan perbankan Islam di Malaysia melalui pengalaman penubuhan bank Islam

Kefahaman kewangan Islam dibuktikan melalui peningkatan ilmu pengetahuan masyarakat Islam dalam aspek ekonomi. Peningkatan kesedaran umat Islam terhadap pengetahuan kewangan Islam telah mendorong masyarakat Islam mempelajari fiqh Muamalat. Oleh itu, kefahaman terhadap kewangan Islam adalah manisfestasi pengetahuan mereka terhadap ilmu Muamalat yang pelajari sama ada secara formal atau tidak formal. Oleh itu, kajian ini membuktikan bahawa pendidikan Islam yang menekankan pengharaman riba menjadi asas pelaksanaan kewangan Islam di Malaysia. Kajian merumuskan tiga tahap kefahaman masyarakat Islam di Malaysia terhadap pelaksanaan sistem kewangan dan perbankan Islam berdasarkan sejarah penubuhan bank Islam. Kajian juga merumuskan bahawa pengalaman pelaksanaan sistem kewangan dan perbankan Islam mampu memperkasakan pengetahuan umat Islam terhadap sistem kewangan dan perbankan Islam

Knowledge, Acceptance and Application of Islamic Financial Management among Small and Medium Enterprises (SMEs) Halal Entrepreneurs in Peninsular of Malaysia

The Halal industry in Malaysia has created employment opportunities especially among Small and Medium Enterprises (SMEs). High demand for Halal products especially from Islamic countries has transformed the development of this sector into a national priority. In the Eleventh Malaysia Plan (11MP), the competitiveness of the Halal industry was given special emphasis by the Prime Minister. In Asia, Malaysia has long been considered as a leader in the development of the Halal sector.  However, the Halal industry is not only about Halal food production, but also covers Islamic finance services which prohibit interest (riba), uncertainties (gharar) and gambling (maysir). Islamic financial management is one of the important parts of Islamic finance because it plays a big role in providing Shariah-compliant funds and investment opportunities especially for the SME Halal entrepreneur. The holistic approach to the Halal industry should also cover not only food production but also Islamic financial management which includes activities such as how to create, increase, purify and to protect wealth from an Islamic perspective. Therefore, this study examines the relationship between the knowledge and acceptance of Islamic finance, and the application of Islamic financial management among halal entrepreneurs in Peninsular Malaysia. The findings of this study reveal that the knowledge and acceptance of Islamic finance is significantly correlated with the application of Islamic financial management among halal operators of SMEs. This indicates that to integrate the Halal industry with Islamic financial management activities, Halal entrepreneurs should be able to know and accept the Islamic finance principles. This will, in turn, facilitate the promotion of Malaysia’s Halal industries on the global stage. Keywords: Halal Industry, SMEs Halal entrepreneur, Islamic Financial Managemen

Penggunaan kontrak bay‘ al-inah dalam pembiayaan peribadi secara Islam di Malaysia: satu analisis

Kontrak bay‘ al-inah merupakan mekanisma yang mula-mula diperkenalkan dalam pelaksanaan produk pembiayaan Peribadi Islam, walaupun kini kebanyakan institusi kewangan Islam telah beralih kepada prinsip al-tawarruq. Bank Rakyat merupakan bank pertama memperkenalkan produk ini kepada masyarakat Malaysia. Penawaran produk ini merupakan satu usaha bagi memenuhi maslahah atau keperluan masyarakat yang berhajat kepada keperluan tunai. Kajian ini akan menjalankan satu analisa penilaian terhadap kontrak bay‘ al-inah dalam dua aspek iaitu kefahaman terhadap bay‘ al-inah serta pandangan semasa terhadap bay‘ al-inah dalam kalangan ulama dan eksekutif perbankan Islam. Kebanyakan respondan yang ditemubual mengaitkan pelaksanaan kontrak bai‘ al-inah adalah berdasarkan maslahah, namun mereka agak kurang berpuas hati dengan realiti perlaksanaan kontrak ini di bank-bank Islam yang kurang mengikut panduan sebenar yang dinasihatkan oleh badan penasihat syariah. Kini bank-bank Islam telah membuat tranformasi dalam produk pembiayaan peribadi, daripada menggunakan kontrak bay‘ al-inah kepada kontrak al-tawarruq. Namun begitu, kontrak bay‘ al-inah masih terus diamalkan dalam produk-produk tertentu. Kajian ini membincangkan pemahaman dan amalan pelaksanaan bay‘ al-inah dalam sistem kewangan dan perbankan Islam di Malaysia. Kajian ini juga akan menyentuh kontrak al-tawarruq secara tidak langsung sebagai alternatif kepada kontrak bay‘ al-inah yang menjadi topik utama kajian ini. Hasil kajian menunjukkan bahawa kontrak bay’ alinah merupakan salah satu mekanisma dalam pelaksanaan sistem perbankan Islam berteraskan maslahah yang menepati syariah Islam

Peranan pembiayaan institusi perbankan islam dalam membantu usahawan muslim di Lembah Klang

Kajian ini memfokuskan tentang peranan pembiayaan institusi perbankan Islam dalam membantu usahawan Muslim di Lembah Klang. Pemasalahan kajian membincangkan tentang sejauhmana pembiayaan dan peranan institusi perbankan Islam dalam membantu usahawan Muslim memajukan perniagaan mereka. Antara objektif kajian ini adalah untuk mengenal pasti operasi, perkhidmatan, jenis produk pembiayaan perniagaan yang ditawarkan kepada usahawan Muslim serta pencapaian mereka setelah mendapat pembiayaan. Selain itu, mengenal pasti faktor penggalak dan penghalang dalam usahawan mendapatkan pembiayaan; mengenal pasti faktor kegagalan usahawan Muslim; mengkaji keberkesanan produk pembiayaan kepada usahawan Muslim dan juga mengkaji peranan institusi perbankan Islam dalam membantu dan memantau usahawan Muslim memajukan perniagaannya. Kajian ini menggunakan metod temu bual mendalam (in-depth interview) bagi pengumpulan data dengan menemu bual 6 orang informan dari kalangan pegawai bank yang terlibat sebagai ketua di jabatan pembiayaan perniagaan di 4 buah ibu pejabat perbankan Islam yang dikaji (BIMB, BMMB, Bank Rakyat dan SME Bank) dan juga temu bual kepada 8 orang usahawan Muslim yang telah memperolehi produk pembiayaan perniagaan dari bankbank yang dikaji. Segala data temubual ditranskripkan secara verbatimdan kemudiannya dianalisa menggunakan software Nvivo. Kajian ini mendapati bahawa promosi pembiayaan melalui media, pameran, karnival dan iklan sangat berkesan kepada usahawan. Selain itu, produk SPED dan TUB menjadi pilihan usahawan kerana ciri-ciri serta kelebihan produk tersebut. Kajian juga mendapati, pemilihan usahawan terhadap produk pembiayaan disebabkan ianya patuh Syariah, tiada cagaran, mudah dan proses yang cepat. Namun demikian, perniagaan yang tidak stabil, usahawan disenarai hitam dan sikap pegawai bank adalah antara faktor penghalang usahawan mendapatkan pembiayaan. Di akhir kajian ini, pelajar telah memberikan cadangan kepada institusi perbankan Islam, usahawan Muslim, agensi kerajaan dan Dewan Perniagaan Islam Malaysia untuk menambah baik kelemahan yang wujud dan diharapkan kajian ini dapat menyumbang kepada pembinaan tamadun ummah melalui bidang keusahawanan

Syariah-compliance tourism in Malaysia

This study provides a detailed explanation of the definition, characteristics, concept, and principles of Syariah-compliance tourism. This is a qualitative study which explores the syariah-compliance tourism including definition, characteristics, concept, and principles based on library research and scientific conceptual approach and framework. An in-depth conceptual analysis is also applied. The findings unveiled that Syariah-compliance tourism is a new way of developing the tourism industry in Malaysia which is in line with ethics, culture, and Islamic values. Syariah-compliance tourism is not defined as the visit to the mosque alone but also nature, culture, or creativity that is integrated with Islamic values. Currently, the concept of adherence to Islam (which has been called as Shariah-compliant) has become a trend in the global economy, from food and beverage products to lifestyle and finances. As a new lifestyle trend, many countries are beginning to introduce tourism products related to the halal concept or Islamic orientation. The Islamic economic sector has grown rapidly in Malaysia and the world, including culinary, Islamic finance, Islamic takaful (insurance and mortgage) industries, fashion, cosmetics, pharmaceuticals, entertainment, and tourism

Islamic Tourism: the Characteristics, Concept and Principles

The Islamic economic sector has grown rapidly in Malaysia and Islamic businesses can be found in a wide range of sectors including culinary, Islamic finance, Islamic takaful (insurance and mortgage) industries, Fashion, cosmetics, pharmaceuticals, entertainment, and tourism industries. Islamic tourism, in particular, offers a new means of developing the tourism industry in Malaysia whilst maintaining the ethics, culture and values of Islam. Islamic tourism is not defined as a visit to the mosque alone, but the visit is closely related to nature, culture, or creativity that integrates with Islamic values. Currently, the concept of adherence to Islam (which has been called as Shariah-compliant) has gained traction across the globe. In response to this new lifestyle trend, many countries (including those such as Korea, Japan, Australia, Thailand, and New Zealand which do not have a domestic Muslim majority) are beginning to introduce tourism products related to the halal concept or Islamic orientation. The definition of Islamic tourism is still unclear and encompasses various terms such as Halal Tourism, Halal Friendly Travel Destinations, Halal Travel, Islamic Travel Destinations, and Halal Lifestyle. Even in Malaysia, a leader in this sector, the concept of Islamic tourism is still liminal. However it offers huge potential, both for the country's tourism sector and the country's Islamic population, contributing to the preservation and appreciation of Islamic culture in Malaysia. Islamic tourism is not only related to religious values ​​but also must be in line with every way of life that is not contrary to Islam. Not many companies and agencies organize halal tourism packages because they think it is not a necessity and a profit. Many companies are more focused on routine Islamic tourism such as Umrah and Hajj. This paper considers in detail the characteristics, concept and principles of Islamic tourism

Knowledge, Acceptance and Application of Islamic Financial Management Among Small and Medium Enterprises (SMEs) Halal Entrepreneurs in Peninsular of Malaysia

The Halal industry in Malaysia has created employment opportunities especially among Small and Medium Enterprises (SMEs). High demand for Halal products especially from Islamic countries has transformed the development of this sector into a national priority. In the Eleventh Malaysia Plan (11MP), the competitiveness of the Halal industry was given special emphasis by the Prime Minister. In Asia, Malaysia has long been considered as a leader in the development of the Halal sector.  However, the Halal industry is not only about Halal food production, but also covers Islamic finance services which prohibit interest (riba), uncertainties (gharar) and gambling (maysir). Islamic financial management is one of the important parts of Islamic finance because it plays a big role in providing Shariah-compliant funds and investment opportunities especially for the SME Halal entrepreneur. The holistic approach to the Halal industry should also cover not only food production but also Islamic financial management which includes activities such as how to create, increase, purify and to protect wealth from an Islamic perspective. Therefore, this study examines the relationship between the knowledge and acceptance of Islamic finance, and the application of Islamic financial management among halal entrepreneurs in Peninsular Malaysia. The findings of this study reveal that the knowledge and acceptance of Islamic finance is significantly correlated with the application of Islamic financial management among halal operators of SMEs. This indicates that to integrate the Halal industry with Islamic financial management activities, Halal entrepreneurs should be able to know and accept the Islamic finance principles. This will, in turn, facilitate the promotion of Malaysia's Halal industries on the global stage. Keywords: Halal Industry, SMEs Halal entrepreneur, Islamic Financial Managemen