Performance direction setting: a review on Malaysian development financial institutions

 
 
 
  • Abstract
  • Keywords
  • References
  • PDF
  • Abstract


    Development Financial Institutions (DFIs) play an important roles in Malaysian economy. As a bank which been appointed prescribed under Development Financial Institutions Act (DFIA) 2002, Malaysian DFIs have to proceed its banking operation and concurrently carrying a mandate given by the government striving for socio-economic development. The DFIs advancement towards full-fledged Islamic entity and the mandate that they have carried out in promoting the public interest, leads to the research on reviewing the Malaysian DFIs performance direction setting. All six DFIs which prescribed under DFIA 2002 been taken as a scope of study. The content of vision and mission statement of the DFIs are analysed and classified into the Performance Measures based on Maqasid al-Shari’ah (PMMS) model. The objectives of the study are (1) to identify whether Malaysian DFIs currently have fully covered all three concepts and nine dimensions of Maqasid-al Shari’ah and (2) to analyze which concept and dimension have the most concentration. The result of the study could be as a reference for DFIs’ future direction setting in striving the mandate given in promotiong socio-economic development and at the same time fulfilling the Maqasid al-Shari’ah and been recognized as full-fledged Islamic financial institutions.

     

     


  • Keywords


    Performance; Development Financial Institutions (DFIS); Direction Setting.

  • References


      [1] Ascarya, S. R., & Sukmana, R., 2016. Measuring the Islamicity of Islamic bank in Indonesia and other countries based on Shari’ah objectives. 11th Islamic Conference on Islamic Economic and Finance. Malaysia.

      [2] Darasha, Y., 2016. Uncertainty takes its toll on global Islamic finance growth in 2016, Global Islamic Economy Gateway, Retrieved 15 June 2017, from https://www.salaamgateway.com.

      [3] Farooqi, Y. N., & Tariq, Z., 2012. Relationship between faith in Allah and life satisfaction among the cardiac patients. Science Journal of Psychology. 2: 1-7.

      [4] Hayati, K., & Caniago, I., 2012. Islamic work ethic: The role of intrinsic motivation, job satisfaction, organizational commitment and job performance. Procedia – Social and Behavioral Sciences. 65: 272-277.

      [5] Kamel, S., 2000. Development of Islamic banking activity: Problem and prospects. Lecture of Mr. Saleh Kamel at a Party Given in His Honor as Winner of the IDB Prize in Islamic Banking, Jeddah, 20 October 1997. Islamic Development Bank, Islamic Research and Training Institute.

      [6] Laldin, M. A., 2009. A mini guide to Shariáh & legal maxims. CERT Publications Sdn. Bhd., Kuala Lumpur.

      [7] Mohammed, M. O., Razak, D. A., & Taib, F. M., 2008. The performance measures of Islamic banking based on the Maqasid framework. IIUM International Accounting Conference (INTAC IV). Malaysia.

      [8] Mohammed, M. O., & Taib, F. M., 2009. The performance of Islamic banking based on Maqasid al-Shariah framework: A case of selected Malaysian banks. 3rd ISDEV International Islamic Development Management Conference: Islamic Capital Market. Malaysia.

      [9] Pearce, J. A., & Robinson Jr., R. B., 2007. Strategic management: Formulation, implementation, and control, 10th ed., McGraw Hill, New York.

      [10] Sa-U, S., Rahman, N. S. N. A., & Nordin, M. S., 2008. Infusing Islamic manners (adab) in secular classroom: Its relationship with Islamic work ethic and organizational commitment. International Conference on Teacher Education in the Muslim World. Malaysia.

      [11] Samad, A., & Hassan, M. K. (2000). The performance of Malaysian Islamic bank during 1984-1997: An exploratory study. International Journal of Islamic Financial Services, 1(3), 3-11.

      [12] Shamsudin, N., & Mohammed, M. O., 2015. Performance direction towards performance achievement: Case on local Islamic banks in Malaysia. Journal of Economics, Business and Management, 3(9), 889-893.

      [13] Siddiqi, M. N., 2013. A vision for the future Islamic economics. 9th International Conference in Islamic Economics. Turkey.


 

View

Download

Article ID: 29286
 
DOI: 10.14419/ijet.v7i3.35.29286




Copyright © 2012-2015 Science Publishing Corporation Inc. All rights reserved.