Opportunities for funding Tourism SMEs are emerging globally due to the expansion of tourism sector. However, it is still being determined how these financial arrangements will be controlled at more significant sizes equitably. In the contemporary period, E7 economy is deficient in producing the financial resources to ensure the availability of funds for the acquisition of funds for tourism-based SMEs. However, this research tested the empirical position of cost of debt in E-7 economies during COVID-19 crises. Study findings have shown significant outcomes between the constructs. The variation of conditions, structural uncertainty, transection systems, and variation in support by the financial institution for tourism-based SMEs are the main reasons that lessen borrowing and lending system of funds, from banks to SMEs. However, theorists must revisit the transaction system of debt financing for SMEs. Policymakers are suggested to develop viable and SME system-friendly policies to finance through debt capital from the banks in the time of structural imposed crises, like COVID-19.
This study aims to determine, from the perspective of investors, the factors that predict Islamic unit trust (IUT) investment intentions. Additionally, this paper examines the moderating effect of fintech self-efficacy (FSE) on the relationship between attitude and investment intention. A total of 392 data were collected from IUT investors in Malaysia and analyzed using partial least squares structural equation modeling. The findings reveal that subjective norms have the highest impact on investment intention, followed by attitude and FSE, while religiosity is not significantly associated with investment intention in Islamic unit trust funds. Attitude significantly mediates religiosity-intention and Islamic financial literacy-intention relationships. FSE significantly moderates the attitude-intention relationship. The results shed light on the key factors that increase investing behavior and have direct managerial implications with regard to marketing strategies and target markets. These findings suggest that IUT service providers should take the lead in attracting customers through effective and targeted marketing initiatives, particularly by enhancing customers' FSE and capabilities. This study provides empirical evidence on the interrelationships between Islamic financial literacy, religiosity, and FSE in examining investors' behavior using the Theory of Planned Behavior framework. The study explores the moderating role of FSE on the relationship between attitude and investment intention.
The use of digital technology by banks and other financial institutions to facilitate financial inclusion is referred to as digital financial inclusion. This fusion of digital finance and traditional banking methods has the potential to impact banks' operational effectiveness. This study uses the panel effects model to examine the link between digital financial inclusion and bank performance in 30 Chinese provinces from 2012 to 2021. This research uses kernel density estimation to examine the spatial-temporal growth patterns of both variables. The mediator variable in examining how digital financial inclusion affects bank performance is risk-taking. Finally, the paper analyses the regional heterogeneity of the impact. It presents the following conclusions: (1) In China, digital financial inclusion and bank performance have constantly increased, with noticeable regional variances in their development levels. This regional inequality has widened gradually since 2018, yet it has not resulted in polarization. (2) The significant positive correlation between digital inclusive finance and banking performance indicates that banking performance tends to increase with the enhancement of digital inclusive finance. (3) Digital financial inclusion impacts bank performance, with risk-taking as a moderator. The spread of digital financial inclusion services enhances banks' willingness to take risks, enhancing overall efficiency. (4) Digital financial inclusion boosts bank performance in the Northwest, South, North, and East regions while lightly inhibiting it in the Central region. Based on the findings, this study makes bank and government suggestions.
PIP: In the 3 day workshop of the Southeast Asian Region on the Financial Management of Population/Family Planning Programs held from March 15 to 17 it was recommended that there by standardization of financial reporting procedures by country programs for population planning. Related to this recommendation was the proposal that measurement of cost benefit and cost effective analysis of country programs be undertaken by the Research and Evaluation Units of the respective population organizations in close coordination with the financial managers. Other major recommendations included: 1) closer coordination between donor agencies and policy making bodies of country programs in the disbursement of funds; 2) more exchange of experiences, ideas, technical knowledge on the financial management of country programs in the Inter G overnmental Coordinating Committee for Southeast Asian countries; and 3) inclusion of applicable financial management topics in the training of clinical staff and followup in actual operation. The priority areas identified for the Inter Governmental Coordinating Committee countries (Nepal, Malaysia, Thailand, Singapore, and the Philippines) are financial planning; generation of resources and budgeting and allocation of funds; accounting and disbursement of funds; financial management at the clinic level; use of and control of foreign aid; and cost effectiveness, benefit analysis and financial reporting.
This paper aims to analyze the distinction of premium setting rates by taking into account the risk
taken by conventional and Family Takaful. This study employed the Net Single and Annual Level
Premium formula, and the data were analyzed using a numerical simulation. We found that the
conventional and Takaful insurance systems utilize similar methods in the calculation of insurance
premium when considering pure risk faced by the participant or insured. However, both systems have
their own unique characteristics. The conventional and Family Takaful utilize historical data, such as
mortality rate, expected return rate, expected costs and expected amount of claims. The conventional
insurance is calculated to mitigate or minimize the risk of the insurance company against an amount of
claim faced in the future as long as the insurance is enforced until the contract ends. On the other
hand, the Family Takaful is intended to share fair value among participants in determining
benevolence through Tabarru premium. Every participant must pay for Tabarru premium to support
one another so that there is sufficient amount to cover unexpected claims among them and to uphold
mutual fund as evidence for the sense of mutual co-operation and brotherhood among participants.
Spot urine samples with estimating equations have been used to assess individuals' sodium (salt) intake in association with health outcomes. There is large random and systematic error in estimating sodium intake using this method and spurious health outcome associations. Substantial controversy has resulted from false claims the method is valid. Hence, the World Hypertension League, International Society of Hypertension and Resolve to Save Lives, supported by 21 other health organizations, have issued this policy statement that strongly recommends that research using spot urine samples with estimating equations to assess individuals' sodium (salt) intake in association with health outcomes should not be conducted, funded or published. Literature reviews on the health impacts of reducing dietary sodium that include studies that have used spot and short duration timed urine samples with estimating equations need to explicitly acknowledge that the method is not recommended to be used and is associated with spurious health outcome associations.
This review draws pragmatic lessons for developing countries to address COVID-19-induced recessions and to sustain a developmental recovery. These recessions are unique, caused initially by supply disruptions, largely due to government-imposed 'stay-in-shelter lockdowns'. These have interacted with falling incomes and demand, declining exports (and imports), collapsing commodity prices, shrinking travel and tourism, decreasing remittances and foreign exchange shortages. Highlighting implications for employment, wellbeing and development, it argues that governments need to design comprehensive relief measures and recovery policies to address short-term problems. These should prevent cash-flow predicaments from becoming full-blown solvency crises. Instead of returning to the status quo ante, developing countries' capacities and capabilities need to be enhanced to address long-term sustainable development challenges. Multilateral financial institutions should intermediate with financial sources at low cost to supplement the International Monetary Fund's Special Drawing Rights to lower borrowing costs for relief and recovery.
The adoption of Profit-Loss Sharing arrangement in Islamic banking models can create value for their shareholders. Previous studies discuss Profit-Loss Sharing arrangement in the context of financial intermediation theory, but fail to link the adoption of Profit-Loss Sharing arrangement with value creation and to produce empirical evidence. The aim of this study is to address optimal conditions of the Profit-Loss Sharing contracts in Islamic banking models to minimize the problems of asymmetric information and transaction costs. Three propositions are presented to achieve the optimal conditions of Profit-Loss Sharing contracts in Islamic banking models that can create positive values, given that: First, for mudharaba contract, Islamic banks as rabbul maal give incentives of (0* (RP') to entrepreneurs if the positive value of the Islamic bank's expected net profit is obtained. Next, if an Islamic bank, as mudharib is appointed as wakeel, the depositors of mudharaba investment account are imposed 6*(m) for cost of processing information. Third, for musyaraka contract, the Islamic bank is proposed to incur monitoring cost of c* (y). In addition, this study also produces empirical evidence to determine to what extent the adoption of Profit-Loss Sharing arrangement in Islamic banks creates value for their shareholders. This study utilizes the Malaysian Islamic banks panel data from 2005-2009 and employs Economic Value Added (EVA) as a technique of value creation measurement of Islamic banks. The empirical findings reveal that there is no indication that the adoption of Profit-Loss Sharing arrangement on the deposits structure (MDIA) significantly creates positive value to Islamic banks. This result is consistent for both measurement of value creation against shorter and longer terms opportunity costs of capital employed. This suggests that Islamic banks utilize a lower cost of capital, as Non-mudharaba deposits accounts constitute a large amount of current and saving accounts. On the other hand, for asset structure, this study finds that funds allocated in Financing (FPLS) based on Profit-Loss Sharing arrangement results in a reduction in the value of Islamic banks. However, funds allocated in Securities Investment (FIM) using Profit-Loss Sharing arrangement are significant and create positive value. Collectively, the findings reveal that theoretically, Profit-Loss Sharing arrangement can create value for the shareholders of Islamic banks, and it is evident that Islamic banks need to extensively utilize Profit-Loss Sharing arrangement in Islamic banking operation.
Maritime transportation is very important for coastal state country like Malaysia. However, as having the busiest straits in the world, Malaysia is continuously exposed to the risk of marine spill. The nation had experienced around 30 marine spill incidents since 1976 to the present. The main contributor of marine spill is ship’s accident and in term of category of accident, collision had contributed the most. In term of type of substance that mostly spilled by ships is highly persistence crude oil. The management of marine spill response of Malaysia is applying the three tiers system which is base on the area and scale of the spill. The basis of establishing the marine response service is in accordance with OPRC, which incorporated into the national environmental law. With the three tiers of response system, Malaysia is equipped with arsenal of marine spill response and control equipments. However, with the present magnitude of threat, the current capacities of equipments are insufficient. Nevertheless, the possibility of full magnitude of marine spill is unlikely due to the safety features incorporated into the design of the ships and FSO/FPSO. In term of claim and compensation for marine spill incident, Malaysia is applying the two layers of compensation under the CLC 1992 Protocol and FUND 1992 Protocol. Therefore, Malaysia is ready in various aspects of marine spill response and control.
Abstract-Progress toward universal health coverage (UHC) requires making difficult trade-offs. In this journal, Dr. Margaret Chan, the World Health Organization (WHO) Director-General, has endorsed the principles for making such decisions put forward by the WHO Consultative Group on Equity and UHC. These principles include maximizing population health, priority for the worse off, and shielding people from health-related financial risks. But how should one apply these principles in particular cases, and how should one adjudicate between them when their demands conflict? This article by some members of the Consultative Group and a diverse group of health policy professionals addresses these questions. It considers three stylized versions of actual policy dilemmas. Each of these cases pertains to one of the three key dimensions of progress toward UHC: which services to cover first, which populations to prioritize for coverage, and how to move from out-of-pocket expenditures to prepayment with pooling of funds. Our cases are simplified to highlight common trade-offs. Though we make specific recommendations, our primary aim is to demonstrate both the form and substance of the reasoning involved in striking a fair balance between competing interests on the road to UHC.
Investment funds are growing in Malaysia since people are more knowledgeable about
investments and aware of investment opportunities in order to secure good savings for the
future. These investments include unit trusts, gold, fixed deposits, stock prices and property
investments. It is essential for individuals or organisations to know the value of future share
prices of their investment portfolio in order to predict the profit or loss in the future. The
purpose of study is to identify the best duration of historical data and forecast days in order
to accurately forecast share prices. The study uses Geometric Brownian Motion model in
forecasting share prices of companies in Bursa Malaysia. This study focused on 40 listed
companies in Bursa Malaysia from the top gainers list. It was found that 65 historical days
could forecast the share prices for 21 days accurately.
This paper summarises the paper presentation sessions at the Conference, as well giving insights on the issues related to developing countries. It also discusses the present status of practice and research on water and wastewater management, and projected future scenario based not only on the papers presented in the Conference, but also on other sources. The strategy is presented to overcome many problems in developing countries such as rapid urbanization, industrialization, population growth, financial and institutional problems and, depleting water resources. The strategy consists of Integrated Urban Water Management (IUWM), cleaner industrial production, waste minimisation and financial arrangements.
In December 2009, at the UN Climate Change Conference COP 15 in Copenhagen, the Prime Minister of Malaysia, the Rt. Hon. Mohd Najib Abdul Razak, had announced that “Malaysia is adopting an indicator of a voluntary reduction of up to 40% in terms of emissions intensity of GDP by the year 2020 compared to 2005 levels. This indicator is conditional on receiving the transfer of technology and finance of adequate and effective levels from Annex 1 partners, that correspond to what is required in order to achieve this indicator”. Malaysia also needs to decouple its GDP from its current relatively high carbon-based energy demand. In trying to meet both these targets, we need to intensify our research efforts in energy-based areas. As government funding in R&D is limited as the aim is for research to be private-sector driven, and with the grim global economic scenario today, it is most unlikely that Malaysia will get any assistance financially or technologically from Annex 1 nations. It is therefore proposed that Malaysia considers implementing a dedicated carbon cess on petroleum products to fund R&D in the country. (Copied from article).
There have been significant achievements in research at IMU as indicated by the increasing amount of external funds obtained, and number of publications and postgraduate students produced since it started its research activities in the year 2000. However, it is a great challenge indeed to ensure sustainability of our research, which is currently heavily dependent on internal funding. There is a need to realign our strategies to further enhance our competitiveness in securing external funding for research. In line with this, the Institute for Research, Development and Innovation (IRDI) was officially established on 18 September 2012. The Institute will serve as a platform to support all research activities at IMU. There are four Centres of Excellence based on the identified thrust areas under
IRDI, namely 1) Centre for Bioactive Molecules and Drug Discovery; 2) Centre for Environmental and
Population Health; 3) Centre for Cancer and Stem Cell Research, and 4) Centre for Health Professional Education Research. Major findings based on research in these four thrust areas are reviewed in this paper. With the strategic planning and establishment of IRDI, it is our aspiration to bring research at IMU to a higher level.
The main purpose of this study is to understand the financial status of urban poor community in Kuala Lumpur and factors affecting their personal well-being. The sampling size of this research is 1,064 respondents chosen by using systematic sampling method. The data was obtained by using selfadministered questionnaires and the data being analysed by descriptive analysis meanwhile and multi regression analysis. The results shows that the urban poor community in Kuala Lumpur are having a moderate level of financial literacy possess a less effective financial behaviour, experiencing a high financial strain and adapting a moderate level of personal well-being. Besides that, the results also indicates that the financial literacy has no influence on personal well-being of the urban poor community, meanwhile financial behaviour has a positive influence and financial strain has a negative influence on the personal well-being of the urban poor community. The findings of the study suggest the government and non-government organisation such as Economic Planning Unit ((EPU), Kuala Lumpur City Hall (KLCH or DBKL), Central Bank of Malaysia (BNM), Credit Counselling and Debt Management Agency (CCDM or AKPK), Federation of Consumer Association (FOMCA) to make an inclusive effort and approach to improve the personal well-being of the urban poor. By understanding more about the financial status of the urban poor community, it is hoped to help them to become financial prudence and in the long-run could lead them into a good decision making while facing conflicts in financial issues and maintain a good quality of life. It is important to ensure the urban poor consumers have better financial management skills which lead them to make the right decision in order to enhance their personal well-being.
The use of serious games as digital medicine started in recent years as the United States Food and Drug Administration granted Class 1 or 2 device clearance to serious games or game-like technologies. This encouraging trend motivates interdisciplinary cooperation between experts in the medical sciences and the game industry because the Northern American pharmaceutical revenues have exceeded USD1 trillion globally since 2014. The potential of this lucrative business opportunity may attract fund providers and venture capitalists to support game-related research and development projects. The author elaborates his activities and experiences in the United States in FY2017/2018 as a Humphrey fellow from Malaysia. Specifically, the research and development trend of serious games for cognitive function in the academic and the game industry has positive impact on how medical doctors and practitioners in low- and middle-income countries may use or develop games as digital medicine.
Gambling and speculation which leads to zero-sum outcomes are prohibited in Islamic finance and condemned in conventional finance. This article explores the reasons for the similarity of objections towards gambling and speculation. Three probable reasons are explored namely the concept of stewardship in conventional thought and the concept of khalifa in Islam, Christianity and morality's influence on conventional law and finance and the concept of ethics of sacrifice and ethics of tolerance.