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Maqasid-based consumer preference index for tawarruq personal financing

Relatively, maqasid al-Shariah is a missing dimension element in the available tawarruq personal financing, resulting in a convergence of this facility and its traditional counterpart. This work examines the consumer preference of tawarruq personal financing using the maqasid-based consumer prefer...

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Main Authors: Amin, Hanudin, Suhartanto, Dwi, Ali, Muhammad, Ghazali, Mohd Fahmi, Rizal, Hamid, Abdul Razak, Dzuljastri
Format: Article
Language:English
Published: University Muhamadiyah Yogjakarta 2021
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/93519/7/93519_Maqasid-based%20consumer%20preference%20index%20for%20tawarruq%20personal%20financing.pdf
http://irep.iium.edu.my/93519/
https://journal.umy.ac.id/index.php/ijief/article/view/11823
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spelling my.iium.irep.935192021-11-08T01:03:10Z http://irep.iium.edu.my/93519/ Maqasid-based consumer preference index for tawarruq personal financing Amin, Hanudin Suhartanto, Dwi Ali, Muhammad Ghazali, Mohd Fahmi Rizal, Hamid Abdul Razak, Dzuljastri HG3368 Islamic Banking and Finance Relatively, maqasid al-Shariah is a missing dimension element in the available tawarruq personal financing, resulting in a convergence of this facility and its traditional counterpart. This work examines the consumer preference of tawarruq personal financing using the maqasid-based consumer preference index (MCPi). Drawing upon the MCPi, the present study examines consumer preference on the offered Tawarruq personal financing by 7 Islamic banks in Malaysia based on valid 456 usable questionnaires. The primary findings obtained indicate that all banks somewhat have a moderate MCPi. These include Bank Islam Malaysia Berhad (BIMB), Bank Muamalat Malaysia Berhad (BMMB), Maybank Islamic, CIMB Islamic, RHB Islamic, Kuwait Finance House and Al-Rajhi Bank. This study examines a new approach to measure consumer preference using the MCPi. Our contributions are confined to these particular variables – Educating Customer, Establishing Justice and Promoting Welfare. Our study also limits its perspective on the general context of tawarruq personal financing. Future works may provide different perspectives on these interrogations. This study provides a new index for Islamic banks to manage tawarruq personal financing products according to maqasid al-Shariah effectively. This study introduces a new measure of consumer preference of tawarruq personal financing namely the MCPi in the context of Malaysia. University Muhamadiyah Yogjakarta 2021-07-29 Article NonPeerReviewed application/pdf en http://irep.iium.edu.my/93519/7/93519_Maqasid-based%20consumer%20preference%20index%20for%20tawarruq%20personal%20financing.pdf Amin, Hanudin and Suhartanto, Dwi and Ali, Muhammad and Ghazali, Mohd Fahmi and Rizal, Hamid and Abdul Razak, Dzuljastri (2021) Maqasid-based consumer preference index for tawarruq personal financing. International Journal of Islamic Economics and Finance. pp. 1-30. ISSN 2622-3562 E-ISSN 2622- 4372 (In Press) https://journal.umy.ac.id/index.php/ijief/article/view/11823
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Amin, Hanudin
Suhartanto, Dwi
Ali, Muhammad
Ghazali, Mohd Fahmi
Rizal, Hamid
Abdul Razak, Dzuljastri
Maqasid-based consumer preference index for tawarruq personal financing
description Relatively, maqasid al-Shariah is a missing dimension element in the available tawarruq personal financing, resulting in a convergence of this facility and its traditional counterpart. This work examines the consumer preference of tawarruq personal financing using the maqasid-based consumer preference index (MCPi). Drawing upon the MCPi, the present study examines consumer preference on the offered Tawarruq personal financing by 7 Islamic banks in Malaysia based on valid 456 usable questionnaires. The primary findings obtained indicate that all banks somewhat have a moderate MCPi. These include Bank Islam Malaysia Berhad (BIMB), Bank Muamalat Malaysia Berhad (BMMB), Maybank Islamic, CIMB Islamic, RHB Islamic, Kuwait Finance House and Al-Rajhi Bank. This study examines a new approach to measure consumer preference using the MCPi. Our contributions are confined to these particular variables – Educating Customer, Establishing Justice and Promoting Welfare. Our study also limits its perspective on the general context of tawarruq personal financing. Future works may provide different perspectives on these interrogations. This study provides a new index for Islamic banks to manage tawarruq personal financing products according to maqasid al-Shariah effectively. This study introduces a new measure of consumer preference of tawarruq personal financing namely the MCPi in the context of Malaysia.
format Article
author Amin, Hanudin
Suhartanto, Dwi
Ali, Muhammad
Ghazali, Mohd Fahmi
Rizal, Hamid
Abdul Razak, Dzuljastri
author_facet Amin, Hanudin
Suhartanto, Dwi
Ali, Muhammad
Ghazali, Mohd Fahmi
Rizal, Hamid
Abdul Razak, Dzuljastri
author_sort Amin, Hanudin
title Maqasid-based consumer preference index for tawarruq personal financing
title_short Maqasid-based consumer preference index for tawarruq personal financing
title_full Maqasid-based consumer preference index for tawarruq personal financing
title_fullStr Maqasid-based consumer preference index for tawarruq personal financing
title_full_unstemmed Maqasid-based consumer preference index for tawarruq personal financing
title_sort maqasid-based consumer preference index for tawarruq personal financing
publisher University Muhamadiyah Yogjakarta
publishDate 2021
url http://irep.iium.edu.my/93519/7/93519_Maqasid-based%20consumer%20preference%20index%20for%20tawarruq%20personal%20financing.pdf
http://irep.iium.edu.my/93519/
https://journal.umy.ac.id/index.php/ijief/article/view/11823
_version_ 1717093016309596160
score 13.211869

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