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Financial Resilience among Women Small and Medium Enterprise in Malaysia during and after COVID-19: The Role of Islamic Social Finance

Journal of Islamic Monetary Economics and Finance · Vol. 10 No. 4 (2024) · hlm. 631–656

DOI
10.21098/jimf.v10i4.2009
ISSN
2460-6618, 2460-6146
Terbit
2024-11-30
Penerbit
Bank Indonesia
Bahasa
eng
Lisensi
creativecommons.org/licenses/by-nc/4.0

Abstrak

The COVID-19 pandemic disproportionately impacted women-owned small and medium enterprises (SMEs) in Malaysia, exposing their vulnerabilities and highlighting the need for effective resilience strategies. This study examines the role of Islamic social finance in enhancing the financial resilience of these businesses during and beyond the pandemic. To achieve this goal, the study explores three key areas i.e., identifying factors shaping the financial resilience of women-owned SMEs in Malaysia during and beyond the pandemic, assessing the effectiveness of Islamic social finance instruments in fostering financial resilience for these businesses, and formulating recommendations for effective policies that strengthen the financial resilience of women-owned SMEs, enabling them to navigate future pandemics more effectively. Using a Partial Least Squares Structural Equation Modeling (PLS-SEM) method and 330 respondents, we document no significant effects of Islamic social finance instruments on the financial resilience of women-owned SMEs. We argue that this documented insignificance could be due to the ways Islamic Social Finance (ISF) is operationalized. At the same time, contradicting previous research on the ISF women-owned SMEs financial resilience, we also believe that further investigation is needed. Acknowledgment This research is supported by the Ministry of Higher Education of Malaysia (MOE) through Fundamental Research Grant Scheme (FRGS/1/2021/SS01/UIAM/03/3).

Kata kunci

Jaringan kolaborasi para penulis

30 penulis · 47 tautan kepenulisan bersama · 19 lintas organisasi

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  • International Islamic University Malaysia
  • Al-Hikmah University
  • IPB University
  • Auro University
  • Universitas Syiah Kuala
  • Walisongo State Islamic University
  • Universiti Sains Malaysia
  • Organisasi lain
  • Afiliasi tidak diketahui
  • Organisasi berbeda
  • Organisasi sama
  • Afiliasi tidak diketahui
  • Garis lebih tebal = lebih banyak artikel bersama · lingkaran lebih besar = lebih banyak artikel
Tampilkan sebagai tabel
Rekan penulisOrganisasiArtikel bersama
Laily Dwi ArsyiantiIPB University2
Adewale Abideen AdeyemiInternational Islamic University Malaysia2
Muh Zul Hazmi RapiInternational Islamic University Malaysia2
Farah Farhana JauhariInternational Islamic University Malaysia2
Jarita DuasaInternational Islamic University Malaysia1
M. Shabri Abd. MajidUniversitas Syiah Kuala1
Weni HawariyuniInternational Islamic University Malaysia1
Khalifah Muhamad AliIPB University1
Mohammad IrfanAuro University1
Sonali DhimmarAuro University1
Mohd ZahidAfiliasi tidak diketahui1
Nasrul Fahmi Zaki FuadiWalisongo State Islamic University1
Fahami Muhammad AnisInternational Islamic University Malaysia1
Nik Hadiyan Nik AzmanUniversiti Sains Malaysia1
Norzitah Abdul KarimInternational Islamic University Malaysia1
Syed Musa Syed Jaafar AlhabshiInternational Islamic University Malaysia1
Razali HaronInternational Islamic University Malaysia1
Mohamed Yassine KhouildiInternational Islamic University Malaysia1
Hassanuddeen Abdul AzizAfiliasi tidak diketahui1
Hechem AjmiInternational Islamic University Malaysia1
Walid MansourSaudi Arabian Monetary Authority1
Lina Nugraha RaniUniversitas Airlangga1
Permata WulandariUniversity of Indonesia1
Adhitya GinanjarInternational Islamic University Malaysia1
Nur Hazirah HamdanInternational Islamic University Malaysia1
Achmad HidayatInternational Islamic University Malaysia1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) http://www.jimf-bi.org/index.php/JIMF/oai, pertama di-harvest 9 Nov 2026, terakhir terlihat 9 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Financial Resilience among Women Small and Medium Enterprise in Malaysia during and after COVID-19: The Role of Islamic Social Finance</dc:title>
	<dc:creator xml:lang="en">Mahadi, Nur Farhah</dc:creator>
	<dc:creator xml:lang="en">Yusuf, Muhammad-Bashir Owolabi</dc:creator>
	<dc:creator xml:lang="en">Kassim, Salina</dc:creator>
	<dc:creator xml:lang="en">Mohd Yusoff, Syarah Syahira Binti</dc:creator>
	<dc:subject xml:lang="en">Women-owned SMEs, Islamic social finance, COVID-19.</dc:subject>
	<dc:description xml:lang="en">The COVID-19 pandemic disproportionately impacted women-owned small and medium enterprises (SMEs) in Malaysia, exposing their vulnerabilities and highlighting the need for effective resilience strategies. This study examines the role of Islamic social finance in enhancing the financial resilience of these businesses during and beyond the pandemic. To achieve this goal, the study explores three key areas i.e., identifying factors shaping the financial resilience of women-owned SMEs in Malaysia during and beyond the pandemic, assessing the effectiveness of Islamic social finance instruments in fostering financial resilience for these businesses, and formulating recommendations for effective policies that strengthen the financial resilience of women-owned SMEs, enabling them to navigate future pandemics more effectively. Using a Partial Least Squares Structural Equation Modeling (PLS-SEM) method and 330 respondents, we document no significant effects of Islamic social finance instruments on the financial resilience of women-owned SMEs.  We argue that this documented insignificance could be due to the ways Islamic Social Finance (ISF) is operationalized. At the same time, contradicting previous research on the ISF women-owned SMEs financial resilience, we also believe that further investigation is needed.
Acknowledgment
This research is supported by the Ministry of Higher Education of Malaysia (MOE) through Fundamental Research Grant Scheme (FRGS/1/2021/SS01/UIAM/03/3).</dc:description>
	<dc:publisher xml:lang="en">Bank Indonesia</dc:publisher>
	<dc:date>2024-11-30</dc:date>
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	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://jimf-bi.org/JIMF/article/view/2009</dc:identifier>
	<dc:identifier>10.21098/jimf.v10i4.2009</dc:identifier>
	<dc:source xml:lang="en">Journal of Islamic Monetary Economics and Finance; Vol. 10 No. 4 (2024); 631-656</dc:source>
	<dc:source>2460-6618</dc:source>
	<dc:source>2460-6146</dc:source>
	<dc:source>10.21098/jimf.v10i4</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://jimf-bi.org/JIMF/article/view/2009/983</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2024 Journal of Islamic Monetary Economics and Finance</dc:rights>
	<dc:rights xml:lang="en">http://creativecommons.org/licenses/by-nc/4.0</dc:rights>
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