Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States
Purpose This paper aims to compare and analyse the aspects of Shariah screening methodologies within the selected Gulf Cooperation Council (GCC) countries as well as comparing the methodologies with the USA, and to examine how Shariah screening methodologies affect financing and investing activitie...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Emerald Publishing
2018
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| Online Access: | http://psasir.upm.edu.my/id/eprint/72195/ http://psasir.upm.edu.my/id/eprint/72195/1/Design%2C%20qualification%20and%20Shariah%20.pdf |
| _version_ | 1848857062395609088 |
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| author | Kasi, Umayal Muhammad, Junaina |
| author_facet | Kasi, Umayal Muhammad, Junaina |
| author_sort | Kasi, Umayal |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | Purpose
This paper aims to compare and analyse the aspects of Shariah screening methodologies within the selected Gulf Cooperation Council (GCC) countries as well as comparing the methodologies with the USA, and to examine how Shariah screening methodologies affect financing and investing activities of a firm.
Design/methodology/approach
Shariah screening methodologies within the selected GCC countries and between the GCC countries and the USA are compared on the basis of the data collected from secondary sources.
Findings
Design, qualification and Shariah governance set the Shariah screening methodologies within the GCC countries apart. Feasibility, duration, economic viability and funds required differentiate these Shariah screening methodologies between the GCC countries and the USA. Shariah screening methodologies implied in the USA is more stringent than in the GCC countries.
Research limitations/implications
The suggestions in this study include using a longer research timeline, examining many more number of countries’ Shariah screening methodologies and exploring other types of Shariah screening methodologies.
Practical implications
The possibility of generalising the implementation of strict and uniform Shariah screening methodologies across all the country-specific Shariah indices amongst Muslim nations, globally, is likely to benefit all the Muslim countries, by strengthening the understanding, interaction and economic co-operation amongst these countries.
Social implications
People’s needs can be tended to if Maqasid Al-Shariah (objectives of Shariah) is achieved through flexibility, dynamism and creativity within the social policy.
Originality/value
Aspects of Shariah screening methodologies are compared and contrasted within the selected GCC countries as well as between the GCC countries and the United States and the role of Shariah screening methodologies is examined in order to determine the extent of what is Shariah-Compliant and what is Non-Shariah Compliant for a firm. |
| first_indexed | 2025-11-15T11:51:35Z |
| format | Article |
| id | upm-72195 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T11:51:35Z |
| publishDate | 2018 |
| publisher | Emerald Publishing |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-721952022-06-29T07:07:47Z http://psasir.upm.edu.my/id/eprint/72195/ Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States Kasi, Umayal Muhammad, Junaina Purpose This paper aims to compare and analyse the aspects of Shariah screening methodologies within the selected Gulf Cooperation Council (GCC) countries as well as comparing the methodologies with the USA, and to examine how Shariah screening methodologies affect financing and investing activities of a firm. Design/methodology/approach Shariah screening methodologies within the selected GCC countries and between the GCC countries and the USA are compared on the basis of the data collected from secondary sources. Findings Design, qualification and Shariah governance set the Shariah screening methodologies within the GCC countries apart. Feasibility, duration, economic viability and funds required differentiate these Shariah screening methodologies between the GCC countries and the USA. Shariah screening methodologies implied in the USA is more stringent than in the GCC countries. Research limitations/implications The suggestions in this study include using a longer research timeline, examining many more number of countries’ Shariah screening methodologies and exploring other types of Shariah screening methodologies. Practical implications The possibility of generalising the implementation of strict and uniform Shariah screening methodologies across all the country-specific Shariah indices amongst Muslim nations, globally, is likely to benefit all the Muslim countries, by strengthening the understanding, interaction and economic co-operation amongst these countries. Social implications People’s needs can be tended to if Maqasid Al-Shariah (objectives of Shariah) is achieved through flexibility, dynamism and creativity within the social policy. Originality/value Aspects of Shariah screening methodologies are compared and contrasted within the selected GCC countries as well as between the GCC countries and the United States and the role of Shariah screening methodologies is examined in order to determine the extent of what is Shariah-Compliant and what is Non-Shariah Compliant for a firm. Emerald Publishing 2018 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/72195/1/Design%2C%20qualification%20and%20Shariah%20.pdf Kasi, Umayal and Muhammad, Junaina (2018) Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States. Qualitative Research in Financial Markets, 10 (2). 189 - 209. ISSN 1755-4179; ESSN: 1755-4187 https://www.emerald.com/insight/content/doi/10.1108/QRFM-04-2017-0039/full/html 10.1108/QRFM-04-2017-0039 |
| spellingShingle | Kasi, Umayal Muhammad, Junaina Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States |
| title | Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States |
| title_full | Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States |
| title_fullStr | Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States |
| title_full_unstemmed | Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States |
| title_short | Design, qualification and Shariah governance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States |
| title_sort | design, qualification and shariah governance of stock screening methodologies in selected gulf cooperation council (gcc) countries in comparison with the united states |
| url | http://psasir.upm.edu.my/id/eprint/72195/ http://psasir.upm.edu.my/id/eprint/72195/ http://psasir.upm.edu.my/id/eprint/72195/ http://psasir.upm.edu.my/id/eprint/72195/1/Design%2C%20qualification%20and%20Shariah%20.pdf |