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The purpose of this paper is to find out the existing practices of the Islamic banks in providing financing to the customers who have a requirement to purchase a finished property and to examine the existing products used by the Islamic banks in this regard by providing an insight into the modus operandi of these products. In doing this, attempt is made to find out the most famous product offered by the Islamic banks in this regard and to find out whether in reality, Malaysian Islamic banking industry has moved away from Bai Bithaman Ajil (BBA) or not.

This is a qualitative research, largely library-based, and it will consist of secondary sources such as books, journals, articles and other sources related to the Islamic house financing in Malaysia for finished properties. Recent information of the practises of the banks in this regard is obtained from the official websites of the banks.

It is found from this study that majority of Islamic Banks in Malaysia prefer to use the Commodity Murabahah facility for finished property. This finding contradicts with the observations made by some scholars who state that in Malaysia, BBA was initially used, and nowadays, the use of Musharakah Mutanaqisah is more common. The reason why Commodity Murbahah has gained popularity is because of the fact that via the Bursa Suq Al Sila platform, it is easy, swift, reliable, profitable, cheaper, convenient and has zero risk to do this type of transaction at the comfort of the office. It is recommended in this paper to use Musharakah Mutanaqisah, as this contract is an innovative contract that is classified as an equity contract under shariah where risk is shared between the parties. There is need to conduct further research to implement Musharakah Mutanaqisah in Malaysia, specifically to reduce the risk that Islamic Banks will bear by practicing this contract.

The findings of this paper might create confusion among readers, as some may perceive that the finding of the paper is not new as BBA has been dominating Islamic house financing industry from the inception of Islamic banking in the country, and BBA and Murabahah are similar in nature, and as such, commodity Murabahah is also a Murabahah transaction. The reality that needs to be understood is that the way BBA was or is practised in Malaysia in relation to Islamic house financing is that in the name of BBA, the transaction actually followed the Bai’ ‘inah contract, which is a controversial contract among the shariah scholars. Likewise, commodity Murabahah is also a different contract than Murabahah, as it actually refers to tawarruq. As such, this research finding is important to the Islamic banking industry to understand that Malaysia has moved away from the Bai’ ‘inah contract practised in the name of BBA in Islamic house financing, and there are new products introduced by the Islamic banks in Malaysia to replace this practice which were criticised by Shariah scholars.

This study aims to explore the determinants that impact state Islamic University/Perguruan Tinggi Keagamaan Islam Negeri students’ intention to adopt online cash waqfs. In doing so, this study integrates knowledge of cash waqf and trust variables within the theory of planned behavior (TPB), allowing an examination of the mediating role of TPB variables and trust within the relationship between knowledge of cash waqf and intention for online cash waqf behavior.

To carry out an empirical analysis, the authors developed a well-structured questionnaire and distributed it to a group of students currently enrolled in PTKIN, obtaining 443 usable responses. The partial least squares-structural equation modeling (PLS-SEM) technique was used for the dual purposes of data analysis and hypothesis testing.

This study demonstrates that factors such as attitude, subjective norms, perceived behavioral control, trust and knowledge of cash waqf have a significant and favorable influence on the intention to donate through e-cash waqf. Knowledge of cash waqf impacts attitudes, subjective norms, perceived behavioral control and trust. The final analysis shows that attitude, subjective norms, perceived behavioral control and trust partially mediate the relationship between knowledge and intention in the online cash waqf context.

The aforementioned elucidates the paramount importance of trust in shaping individuals’ tendencies to engage in cash waqfs. The insights mentioned have the potential to be used by cash waqf establishments to promote transparency and accountability, ultimately bolstering the confidence of potential donors.

The concepts of waqf and the use of online cash waqf as a means of donation in developing countries are relatively new. In this study, the intention of students to adopt online cash waqf was predicted for the first time by considering their knowledge of cash waqf and their trust in online cash waqf transactions.

Zakat (Islamic almsgiving) plays a considerable role in dealing with the socioeconomic issues in times of COVID-19 pandemic, and such roles have been widely discussed in virtual events. This paper aims to discover knowledge of the current global zakat administration from virtual events of zakat (e.g. webinars) on YouTube and Zoom via text mining approach.

The authors purposefully sampled 12 experts from four different virtual zakat events on YouTube and Zoom. The automated text transcription software is used to pull the information from the sampled videos into text documents. A qualitative analysis is operated using text mining approach via machine learning tool (i.e. Orange Data Mining). Four research questions are developed under the Word Cloud visualisation, hierarchal clustering, topic modelling and graph and network theory.

The machine learning identifies the most important words, the relationship between the experts and their top words and discovers hidden themes from the sample. This finding is practically substantial for zakat stakeholders to understand the current issues of global zakat administration and to learn the applicable lessons from the current issues of zakat management worldwide.

This study does not establish a positivist generalisation from the findings because of the nature and objective of the study.

A policy implication is drawn pertaining to the legislation of zakat as an Islamic financial policy instrument for combating poverty in Muslim society.

This work supports the notion of “socioeconomic zakat”, implying that zakat as a religious obligation is important in shaping the social and economic processes of a Muslim community.

This work marks the novelty in making sense of the unstructured data from virtual events on YouTube and Zoom in the Islamic social finance research.

This study aims to examine the relationship of the Islamic work ethics, organizational commitment and job satisfaction of Muslim employees in the four Islamic commercial banks in Indonesia.

The study has adopted a quantitative method with descriptive and inferential statistical analysis. A stratified random sample of the executive management was taken, proportionate to the size of each organization. Out of a total of 250 distributed questionnaires, 220 respondents have responded. Frequencies and percentages were used to identify the characteristics of the respondents, while the preliminary data analysis of reliability and validity tests were used, along with the linear regression and the factor analysis of variance to answer the research question.

It found that the Islamic work ethics have a positive and significant relationship with organizational commitment and job satisfaction.

The sharia compliance requirement of Islamic banks is aligned with the Islamic work ethics’ principles and values, which thus could create in-depth organizational commitment among employees.

Zakat during the COVID-19 outbreak has played a vital role and has been significantly discussed in the virtual environment. Such information about zakat in the virtual world creates unstructured data, which contains important information and knowledge. This paper aims to discover knowledge related to zakat administration during the pandemic from the information in a virtual environment. Furthermore, the discussion is contextualised to the socio-economic debates.

This is a qualitative study operated via text mining to discover knowledge of zakat administration during the COVID-19 pandemic. The National Board of Zakat Republic of Indonesia (BAZNAS RI) is selected for a single case study. This paper samples BAZNAS RI’s situation report on COVID-19 from its virtual website. The data consists of 40 digital pages containing 19,812 characters, 3,004 words and 3,003 white spaces. The text mining analytical steps are performed via RStudio. The following R packages, networkD3, igraph, ggraph and ggplot2 are used to run the Latent Dirichlet Allocation (LDA) for topic modelling.

The machine learning analysis via RStudio results in the 16 topics associated with the 3 primary topics (i.e. Education, Sadaqah and Health Services). The topic modelling discovers knowledge about BAZNAS RI’s assistance for COVID-19 relief, which may help the readers understand zakat administration in times of the pandemic from BAZNAS RI’s virtual website. This finding may draw the theory of socio-economic zakat, which explains that zakat as a religious obligation plays a critical role in shaping a Muslim community's social and economic processes, notably during the unprecedented times of COVID-19.

This study uses data from a single zakat institution. Thus, the generalisation of the finding is limited to the sampled institution.

This research is both theoretically and practically important for academics and industry professionals. This paper contributes to the novelty in performing text mining via R in gaining knowledge about the recent zakat administration from a virtual website. The finding of this study (i.e. the topic modelling) is practically essential for zakat stakeholders to understand the contribution of zakat in managing the COVID-19 impacts.

This work derives a theory of “socio-economic zakat” that explains the importance of a zakat institution in activating zakat for managing socio-economic issues during the pandemic. Thus, paying zakat to an authorised institution may actualise more maslahah (public interest) compared to paying it directly to the asnaf (zakat beneficiaries) without any measurement

This study is among the pioneers in gaining knowledge from Indonesia’s zakat management during the COVID-19 outbreak via text mining. The authors’ way of analysing data from the virtual website using RStudio can advance Islamic economics literature.

The purpose of this study is to investigate the role of Auditing and Accounting Organization for Islamic Financial Institution (AOIFI) governance disclosure on the performance of Islamic financial institutions (IFIs) through systematic literature review approach.

This study is based on the review of literature related to the AAOIFI accounting standards downloaded from Scopus database. This study includes review of 126 research articles, 10 review papers, 9 book chapters and 5 conference papers related to different roles played by AAOIFI in providing standards for accounting, auditing, governance and ethics for global IFIs.

The findings of this study suggest that AAOIFI has played a critical role in developing the accounting standards for the IFIs and contributed positively to the overall growth of the Islamic finance industry.

AAOIFI has played a critical role in issuing and development of accounting and auditing standards and has contributed positively to the financial performance of IFIs. Research gaps are identified, and there is a need to work on these gaps.

This study will contribute to the understanding the role of AAOIFI in issuing and development of accounting and governance standards and future research agenda based on a thorough review of literature.