Modeling psychology in Islamic wealth management
This paper proposes a conceptual framework for modeling psychology in Islamic wealth management. Incorporating psychology into finance would significantly contribute to our understanding of the behavior of individual investors as well as market behavior. Utilizing the findings of behavioral finance...
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| Format: | Article |
| Language: | English |
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Canadian Center of Science and Education
2017
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| Online Access: | http://irep.iium.edu.my/58249/ http://irep.iium.edu.my/58249/ http://irep.iium.edu.my/58249/ http://irep.iium.edu.my/58249/1/69609-257729-1-PB.pdf |
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iium-58249 |
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eprints |
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iium-582492018-01-31T17:28:52Z http://irep.iium.edu.my/58249/ Modeling psychology in Islamic wealth management Al-Abbadi, Ahmed Hamed Abdullah, Adam BF Psychology HG Finance This paper proposes a conceptual framework for modeling psychology in Islamic wealth management. Incorporating psychology into finance would significantly contribute to our understanding of the behavior of individual investors as well as market behavior. Utilizing the findings of behavioral finance and financial therapy, along with industry mega-trends, Islamic wealth management could step further in fulfilling its ultimate objective of promoting social welfare. This is can be achieved by exploring and identifying the psychological factors that affect the clients' decision-making and then behaviorally and cognitively helping them to engage in socially-responsible investments, projects and initiatives. In operationalizing this model, financial advisors/wealth managers should adopt a comprehensive client discovery and profiling method and apply Fintech innovations in producing complex analytics and thereby enriching the client experience. Canadian Center of Science and Education 2017 Article PeerReviewed application/pdf en http://irep.iium.edu.my/58249/1/69609-257729-1-PB.pdf Al-Abbadi, Ahmed Hamed and Abdullah, Adam (2017) Modeling psychology in Islamic wealth management. International Journal of Economics and Finance, 9 (10). pp. 64-85. ISSN 1916-971X E-ISSN 1916-9728 http://ccsenet.org/journal/index.php/ijef/article/view/69609 10.5539/ijef.v9n10p64 |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
International Islamic University Malaysia |
| building |
IIUM Repository |
| collection |
Online Access |
| language |
English |
| topic |
BF Psychology HG Finance |
| spellingShingle |
BF Psychology HG Finance Al-Abbadi, Ahmed Hamed Abdullah, Adam Modeling psychology in Islamic wealth management |
| description |
This paper proposes a conceptual framework for modeling psychology in Islamic wealth management. Incorporating psychology into finance would significantly contribute to our understanding of the behavior of individual investors as well as market behavior. Utilizing the findings of behavioral finance and financial therapy, along with industry mega-trends, Islamic wealth management could step further in fulfilling its ultimate objective of promoting social welfare. This is can be achieved by exploring and identifying the psychological factors that affect the clients' decision-making and then behaviorally and cognitively helping them to engage in socially-responsible investments, projects and initiatives. In operationalizing this model, financial advisors/wealth managers should adopt a comprehensive client discovery and profiling method and apply Fintech innovations in producing complex analytics and thereby enriching the client experience. |
| format |
Article |
| author |
Al-Abbadi, Ahmed Hamed Abdullah, Adam |
| author_facet |
Al-Abbadi, Ahmed Hamed Abdullah, Adam |
| author_sort |
Al-Abbadi, Ahmed Hamed |
| title |
Modeling psychology in Islamic wealth management |
| title_short |
Modeling psychology in Islamic wealth management |
| title_full |
Modeling psychology in Islamic wealth management |
| title_fullStr |
Modeling psychology in Islamic wealth management |
| title_full_unstemmed |
Modeling psychology in Islamic wealth management |
| title_sort |
modeling psychology in islamic wealth management |
| publisher |
Canadian Center of Science and Education |
| publishDate |
2017 |
| url |
http://irep.iium.edu.my/58249/ http://irep.iium.edu.my/58249/ http://irep.iium.edu.my/58249/ http://irep.iium.edu.my/58249/1/69609-257729-1-PB.pdf |
| first_indexed |
2023-09-18T21:22:20Z |
| last_indexed |
2023-09-18T21:22:20Z |
| _version_ |
1777411965276127232 |