An Empirical Analysis on Legitimacy of Sukuk: An Insight of Malaysian Sukuk
Bibliographic record
Abstract
Islamic Sukuk have a key impact and high influence in different economic and banking transactions where they have got an estimable position in financial markets and international money. Recently, sukuk have been considered as one of the fastest industries in its growth in international financial landscape and also considered as the most successful financial products among the Islamic financial institutions. Institutions should be giving more attention to sukuk development and to ensuring that these sukuk are compliant with Sharia requirements. The main objective of this paper is to determine the factors which influencing on sukuk legitimacy. A total of 54 Islamic sukuk Islamic financial institutions in Malaysia representing the whole population were selected. Secondary data was used and sourced from the sukuk shariah report. Using descriptive statistics, the existence and the extent of existence of legitimacy in Islamic sukuk in Islamic financial institutions in Malaysia was ascertained. The research found that the selected factors influence on sukuk legitimacy are could be used as subjects of references in determining the existence of legitimacy in shariah pronouncements.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.009 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.003 | 0.003 |
| Science and technology studies | 0.002 | 0.003 |
| Scholarly communication | 0.002 | 0.002 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.004 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".