Few reports have indicated that majority of Malaysians do not save enough for retirement and Malays are less likely to save money as compared to other races in Malaysia. A lot of attention has been given to the link between financial literacy and saving thus neglecting other factors that are closely related to individuals. According to Bandura's (1977) theory, financial behaviour is closely related to personal factors such as individual characteristic, cognitive ability, self-efficacy, and religious faith. Therefore, this study aims to examine all the factors predicting private saving. Using 224 Malay respondents, logistic regression analysis was conducted. This study found that parents and religious faith significantly predicted the likelihood of private saving, but individual characteristic, cognitive ability, and self-efficacy did not significantly predict the likelihood of private saving. Thus, this study recommends using parents and religious officers to guide the Malay communities in their private saving.

<div><table cellspacing="0" cellpadding="0" align="left"><tbody><tr><td align="left" valign="top"><p class="AbstractText">Malaysia is likely to introduce new laws on social enterprises of taxation. However, the important questions are whether the said laws are adequate. This study explores previous research on social enterprises and taxation to gain a further understanding through a systematic literature review on social enterprises and taxation from the Malaysian perspective. This is normative legal research. The data was gathered through library research which consisted of numerous publications. This study concludes that tax and social enterprises, perhaps due to the different economic structures in each country, result in taxation being slightly discussed by previous scholars. Nevertheless, we clearly define social enterprises from different perspectives, including the characteristics present in social enterprises. Moreover, the perspective regarding tax relief for social enterprises in Malaysia has been highlighted. Although Malaysia has introduced a new policy to support its social enterprises with Social Enterprise Accreditation, a more significant regulatory or tax incentives approach is needed to support social enterprises in Malaysia.</p></td></tr></tbody></table></div>