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Prize-giving to the premium savings certificate holders: AShari'ah compliance review on the Bank Simpanan Nasional (National Savings Bank) in Malaysia


  • Mohd. Sawari
  • Razi Hassan
  • Faruk Abdullah


Purpose - Considering the popularity of the premium savings certificate (PSC) of the National Savings Bank of Malaysia (Bank Simpanan Nasional (BSN)) the paper aims to justify the Design/methodology/approach - Inductive methodology is first used to obtain a basic understanding of this product and the characteristics of Findings - The paper argues that the underlying contract used in PSC violates the conditions of w Originality/value - In particular, it attracts the attention of BSN management to change their product's features. In general, it discovers a non-

Suggested Citation

  • Mohd. Sawari & Razi Hassan & Faruk Abdullah, 2011. "Prize-giving to the premium savings certificate holders: AShari'ah compliance review on the Bank Simpanan Nasional (National Savings Bank) in Malaysia," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 4(3), pages 259-270, August.
  • Handle: RePEc:eme:imefpp:v:4:y:2011:i:3:p:259-270

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    References listed on IDEAS

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    6. Haque Mahfuzul & Hassan M. Kabir & Maroney Neal C & Sackley William H, 2004. "An Empirical Examination of Stability, Predictability, and Volatility of Middle Eastern and African Emerging Stock Markets," Review of Middle East Economics and Finance, De Gruyter, vol. 2(1), pages 18-41, April.
    7. Kasa, Kenneth, 1992. "Common stochastic trends in international stock markets," Journal of Monetary Economics, Elsevier, vol. 29(1), pages 95-124, February.
    8. Aktham I. Maghyereh & Haitham A. Al-Zoubi, 2006. "Value-at-risk under extreme values: the relative performance in MENA emerging stock markets," International Journal of Managerial Finance, Emerald Group Publishing, vol. 2(2), pages 154-172, July.
    9. Christos Floros, 2005. "Price Linkages Between the US, Japan and UK Stock Markets," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 19(2), pages 169-178, August.
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