The Development of Islamic Banking and Financial Institution in United Kingdom

Nurul Azma,Siti Aisyah,Nurul Izzah,Mahfuzur Rahman 한국유통과학회 2018 Asian Journal of Business Environment (AJBE) Vol.8 No.2

Purpose - The aim of this study is to investigate the problems, challenges, opportunities and future prospects of Islamic banking and finance in the UK. However, this study brings forward into 3 main purposes. Firstly, to explore the development of financial institutions, products and regulatory reforms. Secondly, to find out the performance of Islamic banking institutions. Lastly, to identify the problems, challenges and Islamic banking future prospects. Research design, data, and methodology - An in-depth literature review was carried out to fulfil the research objectives. Results - The findings point out the basic problems of Islamic banking industry in UK such as unfavorable regulatory environment, unfamiliarity with the Islamic Banking System, lack of portfolio management, absence of liquidity instruments, in need of professional bankers, and blending of approach of Islamic scholars with the approach of the conventional bankers. The findings also indicate that there are greater opportunities in the UK for development and growth of Islamic financial system because Muslim community is eager to take financial products. Conclusions - It is hoped that issues pertaining to Islamic banking products can be resolved through consensus of Shariah scholars. There is need to educate the Muslim community about Islamic financial products and service.

A Review of Risk Volatility Measurement on Conventional Stock Market and Islamic Stock Market

Mustika Rahmi,Nurul Azma,Aminullah Achmad Muttaqin,Thuba Jazil,Mahfuzur Rahman 한국유통과학회 2016 KODISA ICBE (International Conference on Business Vol.2016 No.-

The purpose of this paper is to investigate the volatility of both Islamic and conventional stock market in Indonesia with the aim of identifying the most appropriate model for risk management practice. The study considers GARCH as a genre of model to measure the volatility of stock market movement. The results support the view that each model shows specific volatility from both Islamic and conventional stock market in Indonesia. In Islamic stock market, volatility is affected by exchange rate and money supply (M1) but not interest rate as interest is prohibited in Islam. However, interest rateis found as principal factor that affect volatility of conventional stock market. The outcomes of this paper are of particular significance to policy makers, as it provides guidelines to maintain economic health. Further, the findings may assist practitioners to understand the consequences of macroeconomic factors such as exchange rate, money supply and interest rate, which arevery crucial for the market stability of Indonesian stock market. The paper enhances the understanding of stock market volatility and propose guidelines risk management practices.

Risk Volatility Measurement: Evidence from Indonesian Stock Market

Mustika Rahmi,Nurul Azma,Aminullah Achmad Muttaqin,Thuba Jazil,Mahfuzur Rahman 한국유통과학회 2016 The Journal of Asian Finance, Economics and Busine Vol.3 No.3

The purpose of this paper is to investigate the volatility of both Islamic and conventional stock market in Indonesia with the aim of identifying the most appropriate model for risk management practice. The study considers GARCH as a genre of model to measure the volatility of stock market movement. The results support the view that each model shows specific volatility from both Islamic and conventional stock market in Indonesia. In Islamic stock market, volatility is affected by exchange rate and money supply (M1) but not interest rate as interest is prohibited in Islam. However, interest rate is found as a principal factor that affects volatility of conventional stock market. The outcomes of this paper are of particular significance to policy makers, as it provides guidelines to maintain economic health. Furthermore, the findings may assist practitioners to understand the consequences of macroeconomic factors such as exchange rate, money supply and interest rate, which are very crucial for the market stability of Indonesian stock market. The paper enhances the understanding of stock market volatility and proposes guidelines risk management practices.

Perceptions of Islamic banking products: Evidence from Malaysia

Mustika RAHMI,Nurul AZMA,Fahd Mohammed OBAD,Muhammad ZAIM,Mahfuzur RAHMAN 한국유통과학회 2020 Asian Journal of Business Environment (AJBE) Vol.10 No.3

Purpose: Islamic banking products and services have always claimed to be unique from its traditional interest-based counterpart. However, in practice, many Islamic banks are alleged to have drifted away from its paradigm version. The purpose of this study is to gauge the perception of university students in Malaysia towards Islamic banking products. Research design, data and methodology: Data were collected from 250 Malaysian university students. Structural Equation Modeling (SEM) was performed to test proposed hypotheses to identify factors influencing customers‘ perception toward Islamic banking products. Results: The main finding indicates that most of the respondents are familiar with Islamic banking products and consider Islamic banking products as useful as it s conventional counterparts. The regression results show that respondents are less convinced of adherence to Shari‘ah, efficiency and helpfulness of existing Islamic banks. Conclusions: This is a cue to the Islamic banks‘ stakeholders that they need to realign their practices in an ethically responsible way in accordance with Shari‘ah if they wish to secure existing customers and attract potential ones. In a competitive banking environment, most banks provide efficient and readily available service; thus, focusing on this as a strategy hardly distinguishes an Islamic bank from an interest-based bank

AVOIDITALS: Enhanced Cyber-attack Taxonomy in Securing Information Technology Infrastructure

Syafrizal, Melwin,Selamat, Siti Rahayu,Zakaria, Nurul Azma International Journal of Computer ScienceNetwork S 2021 International journal of computer science and netw Vol.21 No.8

An operation of an organization is currently using a digital environment which opens to potential cyber-attacks. These phenomena become worst as the cyberattack landscape is changing rapidly. The impact of cyber-attacks varies depending on the scope of the organization and the value of assets that need to be protected. It is difficult to assess the damage to an organization from cyberattacks due to a lack of understanding of tools, metrics, and knowledge on the type of attacks and their impacts. Hence, this paper aims to identify domains and sub-domains of cyber-attack taxonomy to facilitate the understanding of cyber-attacks. Four phases are carried in this research: identify existing cyber-attack taxonomy, determine and classify domains and sub-domains of cyber-attack, and construct the enhanced cyber-attack taxonomy. The existing cyber-attack taxonomies are analyzed, domains and sub-domains are selected based on the focus and objectives of the research, and the proposed taxonomy named AVOIDITALS Cyber-attack Taxonomy is constructed. AVOIDITALS consists of 8 domains, 105 sub-domains, 142 sub-sub-domains, and 90 other sub-sub-domains that act as a guideline to assist administrators in determining cyber-attacks through cyber-attacks pattern identification that commonly occurred on digital infrastructure and provide the best prevention method to minimize impact. This research can be further developed in line with the emergence of new types and categories of current cyberattacks and the future.

Development of Sustainable Home-Network Security Tool

Hamid, Erman,Hasbullah, M. Syafiq E.,Harum, Norharyati,Anawar, Syarulnaziah,Ayop, Zakiah,Zakaria, Nurul Azma,Shah, Wahidah Md International Journal of Computer ScienceNetwork S 2021 International journal of computer science and netw Vol.21 No.11

Home networking and its security issues are directly related. Previous studies have shown that home-network and understanding the security of it is a problem for non-technical users. The existing network management tools or ISP adapter tools are far too technical and difficult to be understood by ordinary home-network users. Its interface is not non-technical user-directed and does not address the home user's needs in securing their network. This paper presents an interactive security monitoring tool, which emphasizes support features for home-network users. The tool combines an interactive visual appearance with a persuasive approach that supports sustainability. It is not only an easy-to-use tool for all categories of home-network users but also acts as a monitoring feature for the user to secure their home-network.