According to the Islamic financial services industry stability report published by IFSB in 2019, the takaful contributions in Southeast Asia were estimated to have reached US$ 3.86 billion in 2017, and Malaysia ranked first with total contributions of US$ 2.77 billion, which represented 70% of the total takaful contributions in Southeast Asia. In light of this, this paper examines the development of takaful industry at the global level, the emergence and development of the takaful industry in Malaysia, the contractual relationships governing the practice of takaful in Malaysia, and the main factors which make Malaysia as one of the pioneering models in takaful in Southeast Asia region. In terms of methodology, the research adopts a qualitative approach employing the inductive method to trace primary and secondary data on the topic and the descriptive method to describe the Malaysian experience in Islamic insurance. The research also adopts the analytical method to evaluate the viability of takaful in the Malaysian context. The study found that the developments of takaful in Malaysia are very promising due to the abundant encouragement provided by the regulators. The research has also concluded that the success of the Malaysian experience is due to the legal and regulatory frameworks, the infrastructure support system that facilitates and govern the work of takaful operators, and the healthy competitive environment among the takaful companies. These contributed to enhancing growth rate and making Malaysia a pioneering model in Islamic insurance in the Southeast Asia region.

An abstract is written in Arabic.

The outbreak of the coronavirus epidemic (COVID-19), classified by the World Health Organization as a pandemic, has led to the emergence of many challenges. It started as a health crisis and then turned into a global economic crisis that most countries could not manage or control as a result of lockdown policies and restrictions on movement and travel. This is not to mention the forms of damage that have affected the contractual obligations and rights of various contracting parties at the level of financial institutions such as banks, takaful companies and others. The challenges imposed by the coronavirus pandemic have led to a reexamination of the fiqh treatment of catastrophes. The role of Islamic economic experts and the Islamic financial industry has had to be clarified in addressing its effects on contractual relations and future obligations in distressed financing contracts. The theory of catastrophes (jawa'ih) is one of the most important jurisprudential theories in Islamic fiqh. It comprises a set of principles and provisions that deal with the harmful effects upon one of the parties bound by a contract as a result of damage to what the party is obliged to deliver, or failure to obtain the intended benefit from the obligation. It is based on achieving justice in the practical application of financial transaction contracts, removing difficulty, taking into account arising circumstances, and preventing abuse in the exercise of rights and the freedom to contract. It thus regulates the rights of people related to the exchange of properties and usufructs.

The study aims to investigate the measurement model of four constructs, namely, spirituality at the workplace (SP), Islamic spirituality (ISP), organizational commitment (OC) and organizational citizenship behaviours (OCB). The study aims to contribute new knowledge to the existing literature whereby performance determinants comprising these constructs, serve to improve employee well-being which ultimately improves organizational performance. Using disproportionate stratified random sampling, the survey data used for this empirical research were drawn from 482 employees working in takaful agencies in Malaysia. After yielding an instrument to measure SP, ISP, OCB and OC, principal component analysis (PCA) using SPSS and confirmatory factor analysis (CFA) using AMOS were carried out.

This study aims to investigate the relevance of the theory of planned behaviour (TPB) in predicting the intentional behaviour of refugee entrepreneurs. This paper uses key components of the theory on attitude, subjective norms and perceived control to explore the willingness of refugees to participate in microenterprise support programmes (MESP) in refugee camps. This study used a positivist research approach, comprising a quantitative basis of enquiry and gathered data via survey questionnaires. In total, 400 usable questionnaires were completed and used for analysis. This study uses descriptive and inferential analysis with SPSS and confirmatory factor analysis with AMOS to test three key TPB hypotheses. The structured model revealed acceptable high goodness-of-fit indices. Also, the findings indicated that out of three hypotheses, two hypotheses (attitude and perceived control) were substantial, positive and significant. However, the relationship between subjective norms of refugees and their intention to participate in MESP was insignificant. The findings of this study indicate the low-profile refugees give to the views and opinions of the surrounding communities when it comes to determining their intentional behaviour. As such, some poignant implications may relate to microfinance and microcredit programmes targeting refugees. The present study illustrates the interrelationships between the proposed variables. Also, by understanding the relationships between the selected variables, the findings would be useful for the concerned authorities to ameliorate and upgrade the well-being of refugees along with empowering their environment, which would facilitate their engagement in business and entrepreneurship.

This research investigates the Shari'ah compliance of the pricing elements used in family takaful products. The reviewed literature has revealed a great deal of emphasis on the Shari'ah aspects of the takaful contract, distribution of surplus, models used, incorporating waqf in takaful, and the relationship among the parties. Other research has focused on the operational and technical aspects of takaful such as underwriting, pricing, reserving and risk management. None of these studies has addressed the Shari'ah compliance of the pricing elements of family takaful products. Through qualitative research using open-ended interviews as well as content analysis, this research analyses the conformity of family takaful pricing mechanism with the Shari'ah principles of price-setting (tas'ir). The research findings indicate that the assumptions of mortality and morbidity are Shari'ah compliant based on the principles of ibahah (permissibility), maslahah (public interest), istiqra' (induction) and 'urf (custom). However, the investment returns assumption is not quite fair to the shareholders should there be a loss in the investment. The research also indicates that the concept of time value of money is a Shari'ah compliant element that can be used to price family takaful products. Further, the findings highlight that the pricing elements such as health condition are deemed unfair by some practitioners. Similarly, adding an extra loading to the contribution because of family medical history should not be taken for granted.

This research explores the influence of Islamic spirituality on Muslim women's entrepreneurship in Malaysia, showing the effects of spirituality on their careers, business ventures and general entrepreneurial behavior. An empirical study consisting of open-ended interviews with women entrepreneurs in Malaysia was undertaken to explore the impact of spirituality on shaping their entrepreneurial activities, ethical choices, decision-making, and enhancing work-life satisfaction. The findings of this study highlight the position and key role of spirituality in the success of Muslim female entrepreneurs. This study underscores not only the religious compatibility between work and women success, but also highlights significant prospects for the untapped societal potential of Muslim women, in light of their spiritually-backed competencies, and with respect to harnessing their creative and entrepreneurial talents. This study reinforces the connection with God as a common denominator to the definition of spirituality and further shows that spirituality plays significant role in the prioritizing of the needs of family and life, motivation, social responsibility, and decision-making of Muslim women entrepreneurs in Malaysia.

Islamic finance is considered one of the fastest-growing segments of the global financial industry. Over the last four decades, Islamic finance has expanded globally to western and other non-Muslim countries. This paper aims to explore the potential for China to tap into the Islamic finance market and the challenges that may face the implementation of Islamic finance there. This study adopts a qualitative method of inquiry and utilizes the inductive method and content analysis to build comprehensive knowledge that would assist in exploring the significance and potential benefits that China may gain from the adoption of Islamic finance. The study reveals that China has a huge opportunity to capitalize on Islamic finance for economic development, particularly in the implementation of China�s Belt and Road Initiative (BRI). The paper also highlights the critical success factors for introducing Islamic finance in China, most importantly, political will. Genuine support from the government is needed for the effective introduction of Islamic finance in the country. This support should be subsequently followed by the development of the legal framework, an amendment of the laws, broad publicity to raise public awareness, and effective collaboration with international organizations.

Despite extensive studies on predictors and antecedents of organizational commitment, empirical research studies on the impact of workplace spirituality on organizational commitment remain scarce. This study aims to examine the impact of the dimensions of workplace spirituality on agents' organizational commitment in Islamic insurance (takaful) industry in Malaysia. This study used a positivist research approach, comprising a quantitative basis of enquiry, and gathered data via survey questionnaires. In total, 600 questionnaires were distributed and finally 395 usable cases were selected for analysis. Pearson's correlation and stepwise multiple regressions analyses were used to analyze the data. The findings indicated that spirituality in the workplace has a positive and significant effect on organizational commitment. The relationship between each and every component of workplace spirituality and organizational commitment was found to be substantial, positive and significant. The study findings will enable Islamic insurance companies to understand the importance of spirituality in the workplace and will further improve their function and performance by way of enhancing employees' spirituality in the workplace. This study suggests developing more spiritual training, workshops, lectures and seminars on spirituality at the workplace which will help employees of takaful operators and agencies cope effectively with life problems, reduce stress, boost loyalty and enhance organizational commitment.

Despite the number of studies conducted on the concept of spirituality in the workplace, the benefits of work-place spirituality within organizations and the associated effects to outcome and performance level, there have been very few research attempts focusing on the religious aspects of spirituality. As such, the present study aims to improve employees' performance by introducing the construct of Islamic spirituality in the workplace and explore its contribution to the overall development of modern organizations. This study proposes a theoretical framework of Islamic spirituality within the workplace and looks at the effect of Islamic spirituality to predictive employee behavior, with particular emphasis on organizational commitment and organizational citizenship behavior (OCB). This research concludes with a call for researchers to empirically examine the link between Islamic spirituality, organizational commitment, OCB, and job performance. This contribution to the body of existing literature aims to strengthen empirical research on the relationship between these constructs.

Islamic finance has grown considerably over the last four decades and has a global reach. It is considered one of the fastest-growing segments of the global financial industry. One of the biggest challenges for Islamic finance in the next decade is in financial technology (known as Fintech). In the digital world, traditional financial practice will be left behind. This paper examines the phenomenon of financial innovation and technology in Islamic finance and its Shariah parameters. The research adopts a qualitative approach employing the inductive method to trace primary and secondary data on the topic and the descriptive method to describe the emergence of fintech in the Islamic finance industry. The study found that all financial innovations are generally welcomed and can be considered as benefits (Maslahah) to the customers and to the whole financial industry. Innovations in fintech become impermissible only if there is clear evidence from the Shariah that they are against the basic rules of the Shariah. The study also highlights the relationship between fintech and Shariah compliance and suggested to have a proper Shariah governance framework in order to ensure the operation of fintech is in total compliance with Shariah. Besides that, authorities and regulators are required to develop Shariah standards that would explicitly spell out the requirement of Shariah that are fundamental to fintech operations and practices.