Literature shows two hypothesis ‘More finance more growth’ formed u-shape and ‘too much finance’ formed an inverted u-shape profile. Existing literature shows contradicting findings on finance growth nexus by taking only a single indicator of total financing, where financial expansion is detrimental to growth if it surpasses a specific threshold point. This gap is addressed in this study by decomposing Islamic financing into Islamic producer financing (IPF) and Islamic consumer financing (ICF) and its quadratic impact on industrial output growth in Malaysia. Autoregressive Distributive lag (ARDL) approach is applied over the period of 2008; Q1 to 2020; Q4 and, in order to visualize the effect of moderator to the nonlinear model, this study have used Dawson (2014) approach. This study demonstrates a u-shaped relationship between Islamic decomposed financing and sectoral output growth, highlighting that financial development starts to accelerate the growth, once it surpassed the calculated threshold point. With the intention to determine the right financial ceiling to restrict financial activity, threshold points are crucial to the regulators. Our findings imply that policymakers should not only enhance financing, but also improve the quality of the financial system for potential growth. This necessitates the simultaneous expansion and tightening of financial rules, as well as the attendant supervision and surveillance of financial activities, in order to preserve the integrity of finance growth nexus and avoid the ‘vanishing effect’ which may lead to the incidence of future economic crises. This study enriches the discussion on Islamic decomposed financing and the threshold effect to contribute to the economic growth of the country.

This study investigates the underlying reasons behind the limited offering of micro-takaful(insurance) products by takaful operators in Pakistan and suggests solutions to enhance thegrowth of micro-takaful products in the country. The study is qualitative in nature. The researchers conducted atotal of twenty (20) semi-structured interviews of relevant Islamic finance practitioners (5 sales heads, 5 businessheads, 5 product development heads, and 5 sales agents) working at all five takaful operators (Dawood FamilyTakaful Ltd., Pak-Qatar General Takaful, Pak-Qatar Family Takaful, Pak Kuwait Takaful, Takaful Pakistan Limited)operating in Pakistan. NVIVO 12 software was used for generating items, codes, word clouds and text searchqueries. According to the findings of this study, the issues faced by practitioners include the poor financialcondition of the public, lack of sufficient funds with takaful operators, lack of cooperation among takaful operators,lack of customer awareness and interest, lack of takaful experts and diversified takaful products, absence of aculture of takaful practices, and lack of research and product development in the field of micro-takaful.Academicians should develop suitable micro-takaful products according to the needs of the public, and theregulator can require takaful operators to offer micro-takaful products.

In this paper it is assumed that equity markets reflect the development of the overall economy of a country. Equity markets, among other factors, are considerably affected by factors such as inflation or deflation. Therefore, when inflationary or deflationary pressures appear, Central Banks try to manage those pressures in order to minimise their impact on the economy. In this paper, the case of Japan will be examined. Japan can be considered an example of a country which was under extended deflationary pressures for about three decades. In this study, the authors investigate different time frames for the Japan equity market. The research is based on Japan equity market (NIKKEI) returns. The authors aim to answer the question of whether the Japanese market complies with the Efficient Market Hypothesis (EMH) for different time frames, as well as test analytically if Japan's stock market and economy have improved after the implementation of different attempts at Quantitative Easing (QEs), a Zero Interest Rate Policy (ZIRP) or a Negative Interest Rate Policy (NIRP) to curb deflationary impacts on the economy. The analysis and obtained results could be useful for risk and portfolio management, and could be extended to other markets.