Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework

Shariah board has been a great spur to the prudence of Islamic banks by ensuring Shariah compliance on the operations of Islamic banks. The aim of this study is to investigate the quality of Shariah compliance assurance from the Shariah compliance review and audit carried out in Islamic banks....

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Main Author:	Mohd Haridan, Nurfarahin
Format:	Thesis
Language:	English
Published:	2016
Subjects:	Banks and banking - Religious aspects - Islam Finance - Religious aspects - Islam Finance (Islamic law)
Online Access:	http://psasir.upm.edu.my/id/eprint/65962/1/GSM%202016%201%20UPM%20IR.pdf
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id	my-upm-ir.65962
record_format	uketd_dc
spelling	my-upm-ir.659622018-11-15T08:17:19Z Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework 2016-06 Mohd Haridan, Nurfarahin Shariah board has been a great spur to the prudence of Islamic banks by ensuring Shariah compliance on the operations of Islamic banks. The aim of this study is to investigate the quality of Shariah compliance assurance from the Shariah compliance review and audit carried out in Islamic banks. In doing so, the role of Shariah boards and other internal mechanisms available to support this role have been critically evaluated. This study used a qualitative case study research design and employed semi-structured interviews to gain an in-depth understanding on the current governance practiced in Islamic banks. Analysis from interviews conducted with fourteen key individuals in two Islamic banks indicated that the quality of Shariah compliance assurance provided by Shariah board has improved. The emphasis on Shariah audit laid down in Shariah Governance Framework (SGF) has enhance the credibility of Shariah board in providing a quality Shariah assurance on the operations of Islamic bank. However, the empirical findings indicated that the Shariah compliance review roles of Shariah boards were not effectively undertaken by Shariah board as they were highly dependent on the report of Shariah Department Officer. In addition, Shariah board only participates in the development of Shariah audit plan and later endorses audit findings carried out by Shariah Audit Officers. Drawing from this heavy reliance of Shariah board on the work of Internal Shariah Officers of Islamic banks, the call for External Shariah Auditor to provide Shariah compliance assurance remains a focal point deemed more credible to the stakeholders. Banks and banking - Religious aspects - Islam Finance - Religious aspects - Islam Finance (Islamic law) 2016-06 Thesis http://psasir.upm.edu.my/id/eprint/65962/ http://psasir.upm.edu.my/id/eprint/65962/1/GSM%202016%201%20UPM%20IR.pdf text en public masters Universiti Putra Malaysia Banks and banking - Religious aspects - Islam Finance - Religious aspects - Islam Finance (Islamic law)
institution	Universiti Putra Malaysia
collection	PSAS Institutional Repository
language	English
topic	Banks and banking - Religious aspects - Islam Finance - Religious aspects - Islam Finance (Islamic law)
spellingShingle	Banks and banking - Religious aspects - Islam Finance - Religious aspects - Islam Finance (Islamic law) Mohd Haridan, Nurfarahin Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework
description	Shariah board has been a great spur to the prudence of Islamic banks by ensuring Shariah compliance on the operations of Islamic banks. The aim of this study is to investigate the quality of Shariah compliance assurance from the Shariah compliance review and audit carried out in Islamic banks. In doing so, the role of Shariah boards and other internal mechanisms available to support this role have been critically evaluated. This study used a qualitative case study research design and employed semi-structured interviews to gain an in-depth understanding on the current governance practiced in Islamic banks. Analysis from interviews conducted with fourteen key individuals in two Islamic banks indicated that the quality of Shariah compliance assurance provided by Shariah board has improved. The emphasis on Shariah audit laid down in Shariah Governance Framework (SGF) has enhance the credibility of Shariah board in providing a quality Shariah assurance on the operations of Islamic bank. However, the empirical findings indicated that the Shariah compliance review roles of Shariah boards were not effectively undertaken by Shariah board as they were highly dependent on the report of Shariah Department Officer. In addition, Shariah board only participates in the development of Shariah audit plan and later endorses audit findings carried out by Shariah Audit Officers. Drawing from this heavy reliance of Shariah board on the work of Internal Shariah Officers of Islamic banks, the call for External Shariah Auditor to provide Shariah compliance assurance remains a focal point deemed more credible to the stakeholders.
format	Thesis
qualification_level	Master's degree
author	Mohd Haridan, Nurfarahin
author_facet	Mohd Haridan, Nurfarahin
author_sort	Mohd Haridan, Nurfarahin
title	Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework
title_short	Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework
title_full	Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework
title_fullStr	Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework
title_full_unstemmed	Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework
title_sort	quality of shariah compliance assurance in malaysian islamic banks posts implementation of shariah governance framework
granting_institution	Universiti Putra Malaysia
publishDate	2016
url	http://psasir.upm.edu.my/id/eprint/65962/1/GSM%202016%201%20UPM%20IR.pdf
_version_	1747812370520997888

Quality of Shariah compliance assurance in Malaysian Islamic Banks posts implementation of Shariah governance framework

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