Journal of Business and Economic Analysis

The growth of halal tourism has attracted attention globally, with numerous countries expanding their tourism infrastructure to support economic development. Despite the increasing interest in halal tourism, the existing literature primarily comprises theoretical background research found in online databases. It is crucial to evaluate the extent of research on halal tourism and the most productive sources, affiliations, countries, and authors that contribute to halal tourism research and trends. This study provides a comprehensive bibliometric analysis of halal tourism research based on the Scopus database. Bibliometric analysis has been recognized as a significant method. This technique offers a systematic and transparent examination of the field, enabling researchers to understand the current state of affairs, identify core topics, and explore existing relationships within this domain. The top three jurisdictions of halal tourism, namely Indonesia, Malaysia, and Turkey, were selected for the study. The bibliometric analysis was conducted using Scopus analyzer, RStudio VOSviewer version 1.6.17, and Microsoft Excel. The analysis covered 90 documents published between 2010 and 2021. The study’s findings reveal the research’s nature and direction over the past decade, highlighting dominant jurisdictions, journals, authors, and co-occurrence networks. However, limitations exist in using a single database source, indicating the need for additional databases in future research. This research provides academicians and practitioners with comprehensive insights into the concept and implementation of halal tourism, facilitating the development of strategic initiatives to enhance the satisfaction of Muslim tourists and travelers.

In Islamic finance, Profit and Loss Sharing (PLS) concepts are widely advocated as one of the most equitable concepts available for Islamic Financial Institutions (IFIs), given the equitable nature of sharing one’s profit and loss. However, in practice its use is limited as challenges exist which include moral hazard and a mismatch of the competencies of contemporary IFIs vis-a-vis the risk profile of PLS concepts. These challenges of PLS from an IFI perspective had been extensively covered in the literature, therefore this paper attempts to assess the challenges of PLS from a consumer or demand perspective. It is argued that there should be a reasonable level of awareness and willingness for consumers to demand a particular product; it is economically inefficient to create a product for which demand is lacking. Using a mixed method research design which includes surveys to 177 MSMEs and semi-structured interviews with two Islamic finance academicians, the findings indicate a low-level awareness of Mudarabah and Musharakah amongst MSMEs. Further, the willingness to use PLS financing among MSMEs is also found to be low, notably in terms of the willingness to share profits with IFIs, as well as having reservations on IFIs to be involved in playing an operational role in the small enterprise. These findings prompt the need for enhanced marketing approaches to enhance the awareness of these concepts for MSMES, and at the same time, defining a selective target market to explore the willingness amongst MSMEs, should PLS financing be widely available in Brunei.

This paper has two main objectives. First, it aims to compare the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Financial Accounting Standard 1 (FAS 1) with International Accounting Standard 1 (IAS 1). Second, it seeks to assess the level of compliance of Islamic Financial Institutions (IFIs) in the United Arab Emirates (UAE) and Brunei with the AAOIFI standard on General Presentation and Disclosures (FAS 1). To achieve these goals, the author conducted a content assessment of annual reports from selected financial institutions, using checklists designed for the AAOIFI standard on General Presentation and Disclosures. The study found that UAE IFIs displayed greater compliance with AAOIFI FAS 1 compared to their counterparts in Brunei. In 2021, Emirates National Bank of Dubai (Emirates NBD) achieved a compliance rate of 74.3%, while BIBD recorded a lower compliance rate of 70.8%. In summary, this paper sheds light on the differences between AAOIFI FAS 1 and IAS 1, offering valuable insights into compliance levels among IFIs in the UAE and Brunei. However, it acknowledges certain limitations, such as limited generalizability, reliance on secondary data, subjective content analysis, absence of primary research, evolving regulatory frameworks, and resource constraints. Overall, this research contributes to the field of Islamic accounting by employing content analysis techniques to compare AAOIFI FAS 1 and IAS 1 and assess compliance in IFIs in Brunei and the UAE. It aligns with previous studies on International Financial Reporting Standards for IFIs and aims to advance the understanding of Islamic accounting and financial reporting practices.

The influence of various macroeconomic policy instruments on economic growth has received growing attention. This study aimed to investigate the macroeconomic factors affecting economic growth in Ethiopia using multivariate time series models, specifically VAR and vector error correction model (VECM). Data were obtained from the World Bank’s World Development Indicators. The results indicated that the existing macroeconomic policy instruments are not effectively promoting economic growth in the country. The analysis showed that while trade openness (OPN) and the interest rate (IR) as a proxy for domestic savings have a positive and significant impact on short-term growth, long-term growth is primarily influenced by exchange rates and foreign currency money supply (Ms). Policymakers should focus on enhancing OPN and increasing domestic savings for immediate economic benefits. In the long run, it is essential to manage exchange rates and foreign currency Ms, as these factors are vital for sustaining economic growth in Ethiopia over the short and long term.

Mobile payment systems have become an integral part of the digital ecosystem, simplifying financial transactions among individuals, businesses, and even the government in some cases (C2G, G2C) using handheld mobile gadgets. The current academic literature concentrates on the acceptance of mobile payment systems (MPS), including generational diversity, emphasizing the necessity for more concentration on the factors behind MPS adoption trends based on specific economic aspects concerning marketers’, marketing professionals', and practitioners' interests. Therefore, this study synthesizes the existing insights to address the current knowledge gap regarding MPS adoption among Generation Z citizens in developing economies, particularly focusing on Bangladesh. However, grounded in the UTAUT model, this study utilizes structural equation modeling (SEM). IBM SPSS 27 and SmartPLS 3.2.9 have been used for data analysis. The results of this study reveal that Gen Z citizens have positive perspectives toward MPS, and the important factors affecting their acceptance are effort expectancy, enjoyment, performance expectancy, and trust. Finally, the study offers significant insights for further studies in terms of empirical and theoretical contributions.