Artikel ini bertujuan untuk menganalisis perkembangan Pasaran Saham Islam (PSI) di Malaysia dari tahun 1999 hingga tahun 2009. PSI merupakan salah satu kompenan penting dalam Bursa Malaysia. Ia merujuk kepada transaksi jual beli saham yang mempunyai aktiviti-aktiviti syarikat yang selaras dengan syariah dan diniagakan di Bursa Malaysia. Oleh yang demikian, Majlis Penasihat Syariah Suruhanjaya Sekuriti telah memperkenalkan senarai kaunter/saham lulus Syariah berdasarkan sumber utama (al-Quran dan al-Hadis) dan sumber-sumber sokongan dan manhaj penyelidikan yang dipersetujui sebagai panduan kepada para pelabur untuk turut serta dalam bidang pelaburan Islam tanpa ragu-ragu. Hasilnya, jumlah kaunter/saham lulus syariah telah menguasai lebih 88 peratus daripada jumlah keseluruhan kaunter/saham di Bursa Malaysia dengan nilai permodalan pasaran sebanyak 63.8 peratus dari jumlah keseluruhan permodalan pasaran di Malaysia pada tahun 2009. Kata kunci: Bursa malaysia; pasaran saham Islam; majlis penasihat Syariah; parameter kuantitatif; parameter kualitatif This article aims to analyze the development of Islamic Stock Market (ISM) in Malaysia from 1999 until 2009. ISM is one of the prominent components in Malaysian Stock Exchange (Bursa Malaysia). It refers to the sale and purchase transaction of stock that has Shariah complaint company activities and transacted in Malaysian Exchange. Due to this reason, Shariah Advisory Committee of Security Commission has established a list of Shariah compliant counters by basing on the main references (al-Quran and al-Hadith), other advocating sources and consensus research method that lead investors to participate in the field of Islamic investment without hesitation. As a result, Shariah compliant counters majored the overall number of counters in Malaysian Stock Exchange beyond 88% with capital market value of 63.8% from the overall capital market in Malaysia in 2009. Key words: Malaysia exchange; Islamic stock market; Syariah advisory council; quantitative parameters; qualitative parameters

The objective of this paper is to analyse the impact of economic variables on automobile sales in five ASEAN countries. The long term and short term correlation between these variables are implemented using the panel error-correction model. Annual data from 1996 to 2010 involving five variables from five ASEAN countries namely Malaysia, Singapore, Thailand, Philippines and Thailand were accumulated as sample for this research. Result from the test shows that gross domestic product (GDP), inflation (CPI), unemployment rate (UNEMP) and loan rate (LR) have significant long term correlation with automobile sales in these ASEAN countries. The value of error correction in the short term to achieve long term stability based on ECT parameter is found to be significant in Malaysia, Singapore and Thailand. On the other hand, each country is influenced by different variables in the short term period.

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Charitable giving is deemed as one of the most important obligations in Islam which impacts in the wellbeing of an individual and the welfare of the society as a whole. Thus, this paper aims to explore the concept of charity in Islam by basing on the two important sources which are the Quran and Hadith. An analysis based on the verses of Quran and Hadith pertaining to charity is conducted and it is found that there are two words commonly used for charity in Islam which are ṣadaqah and infaq. Further probe on the definition and types of charity yields a result of a complete classification of charity which is broken down into two major categories; the mandatory and the voluntary charitable giving. Four conditions of charity are also discussed which are the donor, recipient, gift and intention describing the flexibility and dynamic of this act. Lastly, some verses of Quran containing the economic role of charitable giving are examined showing the growing nature of this act that promotes prosperity to the donor, recipient and the society.

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