Papers by Norlela Kamaluddin
Ever since the establishment of the first Islamic bank in Malaysia, the progress and development ... more Ever since the establishment of the first Islamic bank in Malaysia, the progress and development of Islamic banking and finance have been tremendous and commendable. Various Islamic banking products are developed and introduced based on certain Islamic business contracts that comprise cuqud al-ishtirak, cuqud al mucawadat and others. Some products are even developed on hybrid basis while some others are based on controversial or disputable contracts. The tremendous development of the products nevertheless has stirred a string of discussions and arguments as the products are seen as just replication of the conventional products. This paper will therefore attempt to highlight several issues on some of the Islamic banking (IB) products. The underlying contracts and their current applications in Islamic banks are first explained to give preliminary understanding of the issues. It is believed that, by highlighting the issues, some appropriate measures could be explored in future research...
Pertanika journal of social science and humanities, 2013
Current literatures show that study on work ethics is gaining popularity among researchers for a ... more Current literatures show that study on work ethics is gaining popularity among researchers for a very obvious reason, namely the threat of moral hazards. Cases of corporate scandals and collapses provide evidence that moral misconducts among employees have contributed to the financial disaster of many companies. It is believed that there is a possible relationship between work ethics and organizational commitment, thus performance. This study would therefore attempt to investigate the Islamic Work Ethics (IWE) practices among the employees of banking institutions in Malaysia with specific focus given to the possible relationship between IWE variables and organizational commitment (OC). The findings of this study indicate that all IWE variables are positively and significantly related to organizational commitment.
International Journal of Business and Society, 2017
1.INTRODUCTIONIn recent years, public and business communities have been surprised by the exposur... more 1.INTRODUCTIONIn recent years, public and business communities have been surprised by the exposure of many corporate scandals and accounting fraud committed by company managers. This has disappointed many stakeholders, as, after the financial crisis in 1997, many efforts have been initiated and implemented to strengthen the business control and company conduct (Salin et al., 2011). It was acknowledged that one of the most important lessons learned from the financial crisis of 1997 is that weak corporate governance practices, such as too much power given to a single person in managing the company, weak internal control, and poor ethical work of directors have contributed to a company's failure and poor performance (Rahim et al., 2017; Ahmad et al., 2016; Zakaria et al., 2016; Omar et al., 2016; Asmuni et al., 2015; Salin et al., 2015; Hamid et al., 2011).Realising this, market players around the world, including watchdog agencies and regulatory bodies, have embarked on a total ov...
Malaysia as the pioneer of Sukuk has captured the global Sukuk share market positively and has a ... more Malaysia as the pioneer of Sukuk has captured the global Sukuk share market positively and has a successful track record in innovating and commercializing many shariah-compliant products. Nevertheless, the literatures on Sukuk are far than enough particularly its theoretical aspect. This paper explains the definition and importance of Sukuk and the comparison between Sukuk and bond. Furthermore, the shari'ah principles in structuring Sukuk, namely profit sharing principles of Mudarabah and Musharakah; sale based principles of Murabahah, Bay' Bithaman Ajil, Salam and Istisna' and hire purchase principle of Ijarah will be described. This paper indicates that a continuous innovative and creative Sukuk structures are needed in order to protect the sustainability of Islamic financial sources.
Malaysia as the pioneer of Sukuk has captured the global Sukuk’s share market in Islamic capital ... more Malaysia as the pioneer of Sukuk has captured the global Sukuk’s share market in Islamic capital market tremendously and has played an important role for the remarkable development of Sukuk. Malaysia has a successful track record in innovating and commercializing many Shari’ah-compliant products. The MICM product innovation and world first achievements from 1990 to 2008 are the evidence of important role and achievement of MICM domestically and globally, for instance the issuance of First Global Corporate Sukuk Ijarah in 2001. The Sukuk markets have used many shari’ah principles to facilitate their functions, namely; profit sharing principles of Mudarabah and Musharakah; sale based principles of Murabahah, Bai’ Bithaman Ajil, Salam and Istisna’; and hire purchase principle of Ijarah. Consequently, these principles are employed to develop the Sukuk market’s instruments such as Asset-Backed Securities - Islamic Medium-Term Notes (ABS-IMTN), Islamic Medium-Term Notes (IMTN) and Islamic...
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The current research intended to explore whether the religiosity play any critical role in influe... more The current research intended to explore whether the religiosity play any critical role in influencing the work ethic of the employee. A lot of research that conducted in the area of the work ethic finds that there is a relationship between religiosity and work ethic. Zhu (2009) for example find that Confucian ethics are emphasis by Chine marketing managers while Parbooteah et al. (2009) finds that the cognitive, affective and the behavioural component of religion are negatively related to unethical practices. However, many of this research conducted are concentrated on the non-Islamic belief such as Confucius and Christianity while Islamic belief is widely missing in literature. Therefore, the current interested to examine the influence of Islamic work ethics among the employees of the bank. This study will review the fundamentals and the pillars of Islamic work ethic and investigates the empirical studies conducted on the banks in Malaysia. This research will extend the previous s...
Current literature show that study on work ethics is gaining popularity among researchers for a v... more Current literature show that study on work ethics is gaining popularity among researchers for a very obvious reason namely moral hazard. Cases of corporate scandals and collapse provide evidence that moral misconducts among the employees contribute to the financial disaster of the company. Hence, it is believed that there is a possible relationship between work ethics and organisational performance. Nevertheless, the conducted studies are centred mainly on Protestant work ethic (PWE). Islamic Work Ethics (IWE) on the other hand, has been misunderstood or ignored in the field of management and organisation studies. This could be because management scholars have no ready access to the wealth of literature in Islam pertaining to IWE in business and organisation, although the fundamental principles have been in existence more than fourteen centuries ago. It is evidenced that Islam as a complete and comprehensive revealed Al-Deen (a way of life) has its universal set of work ethics that ...
Procedia - Social and Behavioral Sciences
The issue of sukuk default had gained particular attention in the recent years especially after t... more The issue of sukuk default had gained particular attention in the recent years especially after the global financial crisis that hit the world economy. This study analyzes and profiling the sukuk defaulters in Malaysia. This study includes issuers of sukuk from 2000 to 2010. Information of the selected issuers of sukuk is extracted from their annual report in the CCM database. The study found that the highest number of sukuk default occurred in 2009. Mixed result was found on initial rating as default occurred for short-term and long-term instrument.
International Journal of Law and Management, 2020
Purpose – This paper aims to explore the director’s work ethics with particular attention given t... more Purpose – This paper aims to explore the director’s work ethics with particular attention given to the Islamic perspectives and prophetic character toward sustaining the performance of the business organizations. As at now, there is a limited code of ethics that can be a guidance for the business organizations and its leaders specifically. Design/methodology/approach – This paper examines and reviews the foundation and prior studies on directors’ work ethics and Islamic work ethics. Then, briefly discuss and present a conceptual review of the directors’ work ethics based on prophetic characters, as well as its application in modern business activities. Findings – Based on Quran and Hadith, this paper proposes that four fundamental moral characters of directors are siddiq (truthfulness), fatanah (intelligent), tabligh (deliver) and amanah (trust). Research limitations/implications – This paper is conceptual in nature, thus further research needed to empirically test all the character...
The purpose of this paper is threefold. First, it is to highlight corporate scandals that have ha... more The purpose of this paper is threefold. First, it is to highlight corporate scandals that have happened in Malaysia. Second, it is to discuss some major causes of these corporate scandals; and third, it is to recommend the possible actions and preventive measures to curb these scandals from the Islamic point of view. On the whole, the paper has given motivation to the researcher to embark and initiate a research in Islamic Ethics and Governance.
ABSTRACT This paper discusses a new model of Islamic code of ethics for directors. Several corpor... more ABSTRACT This paper discusses a new model of Islamic code of ethics for directors. Several corporate scandals and local (example Transmile and Megan Media) and overseas corporate (example Parmalat and Enron) collapses show that the current corporate governance and regulatory reform are unable to prevent these events from recurring. Arguably, the code of ethics for directors is under research and the current code of ethics only concentrates on binding the work of the employee of the organization as a whole, without specifically putting direct attention to the directors, the group of people responsible for the performance of the company. This study used a semi-structured interview survey of well-known Islamic scholars such as the Mufti to develop the model. It is expected that the outcome of the research is a comprehensive model of code of ethics based on the Islamic principles that can be applied and used by the company to construct a code of ethics for their directors.
Procedia - Social and Behavioral Sciences, 2014
The issue of sukuk default had gained particular attention in the recent years especially after t... more The issue of sukuk default had gained particular attention in the recent years especially after the global financial crisis that hit the world economy. This study analyzes and profiling the sukuk defaulters in Malaysia. This study includes issuers of sukuk from 2000 to 2010. Information of the selected issuers of sukuk is extracted from their annual report in the CCM database. The study found that the highest number of sukuk default occurred in 2009. Mixed result was found on initial rating as default occurred for short-term and long-term instrument.
Pertanika Journal of Social Sciences & Humanities, 2013
Current literatures show that study on work ethics is gaining popularity among researchers
for a... more Current literatures show that study on work ethics is gaining popularity among researchers
for a very obvious reason, namely the threat of moral hazards. Cases of corporate scandals
and collapses provide evidence that moral misconducts among employees have contributed
to the financial disaster of many companies. It is believed that there is a possible relationship
between work ethics and organizational commitment, thus performance. This study would
therefore attempt to investigate the Islamic Work Ethics (IWE) practices among the
employees of banking institutions in Malaysia with specific focus given to the possible
relationship between IWE variables and organizational commitment (OC). The findings
of this study indicate that all IWE variables are positively and significantly related to
organizational commitment.
International Journal of Law and Management, 2020
Purpose – This paper aims to explore the director’s work ethics with particular attention given t... more Purpose – This paper aims to explore the director’s work ethics with particular attention given to the
Islamic perspectives and prophetic character toward sustaining the performance of the business
organizations. As at now, there is a limited code of ethics that can be a guidance for the business organizations
and its leaders specifically.
Design/methodology/approach – This paper examines and reviews the foundation and prior studies
on directors’ work ethics and Islamic work ethics. Then, briefly discuss and present a conceptual review of the
directors’ work ethics based on prophetic characters, as well as its application in modern business activities.
Findings – Based on Quran and Hadith, this paper proposes that four fundamental moral characters of
directors are siddiq (truthfulness), fatanah (intelligent), tabligh (deliver) and amanah (trust).
Research limitations/implications – This paper is conceptual in nature, thus further research needed
to empirically test all the characters in actual practices.
Practical implications – The outcome of this paper contributes in way of it can be used and applied by
the firm and policymakers to construct a comprehensive code of ethics that based on the Islamic values.
Originality/value – This paper is original as it attempts to suggest the appropriate constructs of directors’
work ethics from the religious studies in the ethics and management literature. These constructs able to increase
the integrity and moral behaviors of the directors, which eventually preventing them from a commit in various
unethical and malpractices that may obstruct the progress of the country’s economic development and growth.
This paper discusses a new model of Islamic code of ethics for directors. Several corporate scand... more This paper discusses a new model of Islamic code of ethics for directors. Several corporate scandals and local (example Transmile and Megan Media) and overseas corporate (example Parmalat and Enron) collapses show that the current corporate governance and regulatory reform are unable to prevent these events from recurring. Arguably, the code of ethics for directors is under research and the current code of ethics only concentrates on binding the work of the employee of the organization as a whole, without specifically putting direct attention to the directors, the group of people responsible for the performance of the company. This study used a semi-structured interview survey of well-known Islamic scholars such as the Mufti to develop the model. It is expected that the outcome of the research is a comprehensive model of code of ethics based on the Islamic principles that can be applied and used by the company to construct a code of ethics for their directors.
This paper discusses a new model of Islamic code of ethics for directors. Several corporate scand... more This paper discusses a new model of Islamic code of ethics for directors. Several corporate scandals and local (example Transmile and Megan Media) and overseas corporate (example Parmalat and Enron) collapses show that the current corporate governance and regulatory reform are unable to prevent these events from recurring. Arguably, the code of ethics for directors is under research and the current code of ethics only concentrates on binding the work of the employee of the organization as a whole, without specifically putting direct attention to the directors, the group of people responsible for the performance of the company. This study used a semi-structured interview survey of well-known Islamic scholars such as the Mufti to develop the model. It is expected that the outcome of the research is a comprehensive model of code of ethics based on the Islamic principles that can be applied and used by the company to construct a code of ethics for their directors.
Procedia - Social and Behavioral Sciences, 2014
The issue of sukuk default had gained particular attention in the recent years especially after t... more The issue of sukuk default had gained particular attention in the recent years especially after the global financial crisis that hit the world economy. This study analyzes and profiling the sukuk defaulters in Malaysia. This study includes issuers of sukuk from 2000 to 2010. Information of the selected issuers of sukuk is extracted from their annual report in the CCM database. The study found that the highest number of sukuk default occurred in 2009. Mixed result was found on initial rating as default occurred for short-term and long-term instrument.
Abstract: The occurrences of many corporate scandals and collapses provide evidence that moral mi... more Abstract: The occurrences of many corporate scandals and collapses provide evidence that moral misconducts
among the employees may contribute to bad performance of a company. It is therefore significant to investigate
the work ethic profile of employees in order to see the ethical status of a particular organization. This study
aimed to investigate the work ethics profile of employees in one of the emerging economies namely Malaysia.
The Islamic Work Ethic (IWE) profile is given an attention as the values promoted in Islam are universal and
applicable in any working environmental setting. The dimensions of Islamic Work Ethics namely effort,
teamwork, honesty and accountability were assessed using a validated questionnaire to examine banks’
employees’ practice of IWE. Findings of this study indicate that banks’ employees generally adhere to all IWE
dimensions. Nevertheless, the employees need to improve their effort as this dimension is found the least.
Further study is recommended to associate IWE dimensions with organizational performance
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Papers by Norlela Kamaluddin
for a very obvious reason, namely the threat of moral hazards. Cases of corporate scandals
and collapses provide evidence that moral misconducts among employees have contributed
to the financial disaster of many companies. It is believed that there is a possible relationship
between work ethics and organizational commitment, thus performance. This study would
therefore attempt to investigate the Islamic Work Ethics (IWE) practices among the
employees of banking institutions in Malaysia with specific focus given to the possible
relationship between IWE variables and organizational commitment (OC). The findings
of this study indicate that all IWE variables are positively and significantly related to
organizational commitment.
Islamic perspectives and prophetic character toward sustaining the performance of the business
organizations. As at now, there is a limited code of ethics that can be a guidance for the business organizations
and its leaders specifically.
Design/methodology/approach – This paper examines and reviews the foundation and prior studies
on directors’ work ethics and Islamic work ethics. Then, briefly discuss and present a conceptual review of the
directors’ work ethics based on prophetic characters, as well as its application in modern business activities.
Findings – Based on Quran and Hadith, this paper proposes that four fundamental moral characters of
directors are siddiq (truthfulness), fatanah (intelligent), tabligh (deliver) and amanah (trust).
Research limitations/implications – This paper is conceptual in nature, thus further research needed
to empirically test all the characters in actual practices.
Practical implications – The outcome of this paper contributes in way of it can be used and applied by
the firm and policymakers to construct a comprehensive code of ethics that based on the Islamic values.
Originality/value – This paper is original as it attempts to suggest the appropriate constructs of directors’
work ethics from the religious studies in the ethics and management literature. These constructs able to increase
the integrity and moral behaviors of the directors, which eventually preventing them from a commit in various
unethical and malpractices that may obstruct the progress of the country’s economic development and growth.
among the employees may contribute to bad performance of a company. It is therefore significant to investigate
the work ethic profile of employees in order to see the ethical status of a particular organization. This study
aimed to investigate the work ethics profile of employees in one of the emerging economies namely Malaysia.
The Islamic Work Ethic (IWE) profile is given an attention as the values promoted in Islam are universal and
applicable in any working environmental setting. The dimensions of Islamic Work Ethics namely effort,
teamwork, honesty and accountability were assessed using a validated questionnaire to examine banks’
employees’ practice of IWE. Findings of this study indicate that banks’ employees generally adhere to all IWE
dimensions. Nevertheless, the employees need to improve their effort as this dimension is found the least.
Further study is recommended to associate IWE dimensions with organizational performance
for a very obvious reason, namely the threat of moral hazards. Cases of corporate scandals
and collapses provide evidence that moral misconducts among employees have contributed
to the financial disaster of many companies. It is believed that there is a possible relationship
between work ethics and organizational commitment, thus performance. This study would
therefore attempt to investigate the Islamic Work Ethics (IWE) practices among the
employees of banking institutions in Malaysia with specific focus given to the possible
relationship between IWE variables and organizational commitment (OC). The findings
of this study indicate that all IWE variables are positively and significantly related to
organizational commitment.
Islamic perspectives and prophetic character toward sustaining the performance of the business
organizations. As at now, there is a limited code of ethics that can be a guidance for the business organizations
and its leaders specifically.
Design/methodology/approach – This paper examines and reviews the foundation and prior studies
on directors’ work ethics and Islamic work ethics. Then, briefly discuss and present a conceptual review of the
directors’ work ethics based on prophetic characters, as well as its application in modern business activities.
Findings – Based on Quran and Hadith, this paper proposes that four fundamental moral characters of
directors are siddiq (truthfulness), fatanah (intelligent), tabligh (deliver) and amanah (trust).
Research limitations/implications – This paper is conceptual in nature, thus further research needed
to empirically test all the characters in actual practices.
Practical implications – The outcome of this paper contributes in way of it can be used and applied by
the firm and policymakers to construct a comprehensive code of ethics that based on the Islamic values.
Originality/value – This paper is original as it attempts to suggest the appropriate constructs of directors’
work ethics from the religious studies in the ethics and management literature. These constructs able to increase
the integrity and moral behaviors of the directors, which eventually preventing them from a commit in various
unethical and malpractices that may obstruct the progress of the country’s economic development and growth.
among the employees may contribute to bad performance of a company. It is therefore significant to investigate
the work ethic profile of employees in order to see the ethical status of a particular organization. This study
aimed to investigate the work ethics profile of employees in one of the emerging economies namely Malaysia.
The Islamic Work Ethic (IWE) profile is given an attention as the values promoted in Islam are universal and
applicable in any working environmental setting. The dimensions of Islamic Work Ethics namely effort,
teamwork, honesty and accountability were assessed using a validated questionnaire to examine banks’
employees’ practice of IWE. Findings of this study indicate that banks’ employees generally adhere to all IWE
dimensions. Nevertheless, the employees need to improve their effort as this dimension is found the least.
Further study is recommended to associate IWE dimensions with organizational performance