Islamic financial innovation: tools and trends / viewpoints by guest author Humayon A. Dar.

Dar, Humayon A. (2013) Islamic financial innovation: tools and trends / viewpoints by guest author Humayon A. Dar. Journal of Emerging Economies and Islamic Research, 1 (3). pp. 1-22. ISSN 2289 – 2559

Abstract

In a business context, innovation is of two types: model innovation and process innovation. Model innovation involves developing new instruments and methods (inputs) to achieve new objectives (outputs), which must bring new business and hence improve profitability. Process innovation is, in general, an incremental process that utilises existing instruments and methods in new formats and permutations to achieve desired objectives, goals and outcomes in a more efficient and cost effective way. In a business context, it will still be considered as an innovation if a desired outcome is achieved by utilising the same existing instruments and methods with no increased efficiency or cost effectiveness, as long as the new format and permutation result in increased profits.

Metadata

Item Type: Article
Creators:
CreatorsEmail / ID. Num
Dar, Humayon A.UNSPECIFIED
Subjects: H Social Sciences > HJ Public Finance
H Social Sciences > HJ Public Finance > Finance, Islamic
Divisions: Universiti Teknologi MARA, Selangor > Puncak Alam Campus > Faculty of Business and Management
Journal or Publication Title: Journal of Emerging Economies and Islamic Research
Journal: UiTM Journal > Journal of Emerging Economies and Islamic Research (JEEIR)
ISSN: 2289 – 2559
Volume: 1
Number: 3
Page Range: pp. 1-22
Official URL: http://www.jeeir.com/v2/index.php/16-archieve/vol-...
Item ID: 32769
Uncontrolled Keywords: Islamic Financial Innovation, conventional financial, financial services
URI: http://ir.uitm.edu.my/id/eprint/32769

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