Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach

With the introduction of Sustainable Development Goals or SDGs in 2015, the notion of sustainability and impactful services give an inspiration to the dual financial services industries in Malaysia. The approaches that are taken by both of Islamic financial services industry (IFSI) and its counterpa...

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Main Authors:	Mahadi, Nur Farhah, Mohd. Zain, Nor Razinah, Engku Ali, Engku Rabiah Adawiah
Format:	Article
Language:	English English
Published:	IIUM Press, International Islamic University Malaysia 2019
Subjects:	HG1501 Banking HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/78567/ http://irep.iium.edu.my/78567/ http://irep.iium.edu.my/78567/1/78567%20-%20Leading%20towards%20impactful%20islamic%20social.pdf http://irep.iium.edu.my/78567/7/78567%20-%20Leading%20towards%20impactful%20islamic%20social%20-%20scopus.pdf

id	iium-78567
recordtype	eprints
spelling	iium-785672020-02-10T09:04:32Z http://irep.iium.edu.my/78567/ Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach Mahadi, Nur Farhah Mohd. Zain, Nor Razinah Engku Ali, Engku Rabiah Adawiah HG1501 Banking HG3368 Islamic Banking and Finance With the introduction of Sustainable Development Goals or SDGs in 2015, the notion of sustainability and impactful services give an inspiration to the dual financial services industries in Malaysia. The approaches that are taken by both of Islamic financial services industry (IFSI) and its counterpart conventional financial services industry (CFSI) are almost similar. However, a distinguished approach is introduced by the Central Bank of Malaysia towards IFSI. While Sharīʻah provides holistic objectives in comparison to SDGs, the approach of value-based intermediation (VBI) opens a new pragmatic dimension for IFSI in providing impactful and beneficial services to the public at large. The end results of VBI are placed to reach the holistic objectives of Sharīʻah and in achieving complete sustainability of IFSI. This paper investigates the approach of VBI and its proposed implementation from Sharīʻah perspective. Depending on qualitative investigation, this paper also explores the practices of Islamic banks in applying VBI through Islamic social finance and its impacts. It is found that VBI facilitates Islamic banks to provide impactful services to their customers and other innovative strategies based on Islamic social finance. IIUM Press, International Islamic University Malaysia 2019-10-05 Article PeerReviewed application/pdf en http://irep.iium.edu.my/78567/1/78567%20-%20Leading%20towards%20impactful%20islamic%20social.pdf application/pdf en http://irep.iium.edu.my/78567/7/78567%20-%20Leading%20towards%20impactful%20islamic%20social%20-%20scopus.pdf Mahadi, Nur Farhah and Mohd. Zain, Nor Razinah and Engku Ali, Engku Rabiah Adawiah (2019) Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach. Al-Shajarah: Journal of The International Institute of Islamic Thought and Civilization (ISTAC), Special Issue: Islamic Banking and Finance. pp. 69-87. ISSN 1394-6870 https://journals.iium.edu.my/shajarah/index.php/shaj/article/view/897
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG1501 Banking HG3368 Islamic Banking and Finance
spellingShingle	HG1501 Banking HG3368 Islamic Banking and Finance Mahadi, Nur Farhah Mohd. Zain, Nor Razinah Engku Ali, Engku Rabiah Adawiah Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach
description	With the introduction of Sustainable Development Goals or SDGs in 2015, the notion of sustainability and impactful services give an inspiration to the dual financial services industries in Malaysia. The approaches that are taken by both of Islamic financial services industry (IFSI) and its counterpart conventional financial services industry (CFSI) are almost similar. However, a distinguished approach is introduced by the Central Bank of Malaysia towards IFSI. While Sharīʻah provides holistic objectives in comparison to SDGs, the approach of value-based intermediation (VBI) opens a new pragmatic dimension for IFSI in providing impactful and beneficial services to the public at large. The end results of VBI are placed to reach the holistic objectives of Sharīʻah and in achieving complete sustainability of IFSI. This paper investigates the approach of VBI and its proposed implementation from Sharīʻah perspective. Depending on qualitative investigation, this paper also explores the practices of Islamic banks in applying VBI through Islamic social finance and its impacts. It is found that VBI facilitates Islamic banks to provide impactful services to their customers and other innovative strategies based on Islamic social finance.
format	Article
author	Mahadi, Nur Farhah Mohd. Zain, Nor Razinah Engku Ali, Engku Rabiah Adawiah
author_facet	Mahadi, Nur Farhah Mohd. Zain, Nor Razinah Engku Ali, Engku Rabiah Adawiah
author_sort	Mahadi, Nur Farhah
title	Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach
title_short	Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach
title_full	Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach
title_fullStr	Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach
title_full_unstemmed	Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach
title_sort	leading towards impactful islamic social finance: malaysian experience with the value-based intermediation approach
publisher	IIUM Press, International Islamic University Malaysia
publishDate	2019
url	http://irep.iium.edu.my/78567/ http://irep.iium.edu.my/78567/ http://irep.iium.edu.my/78567/1/78567%20-%20Leading%20towards%20impactful%20islamic%20social.pdf http://irep.iium.edu.my/78567/7/78567%20-%20Leading%20towards%20impactful%20islamic%20social%20-%20scopus.pdf
first_indexed	2023-09-18T21:50:40Z
last_indexed	2023-09-18T21:50:40Z
_version_	1777413747102449664

Leading towards impactful Islamic social finance: Malaysian experience with the value-based intermediation approach

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