New Mathematical Model for Islamic Unit Trust
Siti Nadhirah Mohamad Fauzi1, Puspa Liza Ghazali2, Hazimi Foziah3, Lazim Omar4, Mustasfa Mamat5, Md Habibur Rahman6, Ahmad Shukri Yazid7
1Siti Nadhirah Mohamad Fauzi, Faculty of Economics & Management Sciences, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
2Puspa Liza Ghazali, Faculty of Economics & Management Sciences, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
3Hazimi Foziah, Faculty of Economics & Management Sciences, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
4Lazim Omar, Faculty of Islamic Contemporary Studies, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
5Mustafa Mamat, Faculty of Informatic & Computing, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
6Md Habibur Rahman, Faculty of Economics & Management Sciences, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
7Ahmad Shukri Yazid, Faculty of Economics & Management Sciences, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
Manuscript received on November 11, 2019. | Revised Manuscript received on November 20 2019. | Manuscript published on 30 November, 2019. | PP: 11468-11472 | Volume-8 Issue-4, November 2019. | Retrieval Number: B3004078219/2019©BEIESP | DOI: 10.35940/ijrte.B3004.118419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The demand for Islamic unit trust which is the alternative to the interest- based market become increasing day by day. This encourages the Malaysian government to take the various intervention and measures, so that interest free market which is Shariah Compliant can be introduced. The aim of this research is to construct a new formulation of Islamic unit trust for better incomes of Muslim customers’. The method of this researches to derivate a new model by using the new concept of dividend. In findings, the new model of formulation can be contrasted in Islamic unit trust. This new model is a suggestion for unit trust management to be applied in the future time.
Keywords: Islamic Unit Trust, Interest-based market, Mathematical Model.
Scope of the Article: Artificial Intelligent Methods, Models, Techniques.