Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia
The Shariah governance system is an important mechanism to ensure that all the activities,operations and businesses of Islamic financial institutions adhere to the Shariah precepts and requirements. Although the Shariah governance framework concept is widely discussed in Islamic banking, in the case...
Saved in:
| id |
my-usim-ddms-12310 |
|---|---|
| record_format |
uketd_dc |
| institution |
Universiti Sains Islam Malaysia |
| collection |
USIM Institutional Repository |
| language |
English |
| topic |
Islam--Customs and practices |
| spellingShingle |
Islam--Customs and practices Harith Hamidi, Muhamad Isa @ Omar Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia |
| description |
The Shariah governance system is an important mechanism to ensure that all the activities,operations and businesses of Islamic financial institutions adhere to the Shariah precepts and requirements. Although the Shariah governance framework concept is widely discussed in Islamic banking, in the case of Islamic Credit Co-operatives, this concept has received little attention from researchers. Hence, the purpose of this study is to explore the current practices of Shariah governance in Islamic Credit Co-operatives,particularly in its four main areas- the internal arrangement in establishing the Shariah Committee function;the roles and responsibilities of the Board of the of the Co-operatives,Shariah Committee,Management and Internal Audit Committee ;the attributes of the Shariah Committee in the term of independence,confidentiality,competency , and consistency of judgement; and also external arrangement pertaining to Shariah governance in this sector, In-depth interviews using semi-structured questions were conducted with key informants,namely,the management,Shariah Committee, ANGKASA 's Shariah Unit and with the regulator.All the interview questions were generated, structured and arranged in a way that all the data could be analysed easily using the thematic analysis approach.This study identified a serious gap in the Shariah governance system practiced by Islamic Credit Co-operatives ,due to the perfunctory attitude of the co-operatives for internal Shariah control system to support governing system.This study also found that the Co-operatives are passive and still at the basic stage of implementing good Shariah governance even after the issuance of GP28: The Guidelines of Shariah Governance for Co-Operatives . In addition,while exploring the attributes of the Shariah committee in this sector, this study demonstrates that the Shariah Committee is still in conflict when dealing with the five issues - independence , confidentiality , competency ,consistency , and transparency. Moreover , this study concluded that the nominal approach by the regulator is the root cause of the current state of Shariah governance in this sector. This position acknowledges that there are shortcomings and weakness to the existing Shariah governance framework that need further enhancement and improvement at the co-operatives and regulatory level. Thus , this study offers useful information resources that provide some relevant recommendations to the policymakers, co-operatives , and researches for future development of Shariah governance practices in Islamic Credit Co-operatives . Furthermore,this study attempts to provide fresh data and significant information pertaining to the current state of Shariah governance in Islamic Credit Co-operatives . The discussion in this study can also serve to enhance the literature on the topic. |
| format |
Thesis |
| author |
Harith Hamidi, Muhamad Isa @ Omar |
| author_facet |
Harith Hamidi, Muhamad Isa @ Omar |
| author_sort |
Harith Hamidi, Muhamad Isa @ Omar |
| title |
Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia |
| title_short |
Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia |
| title_full |
Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia |
| title_fullStr |
Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia |
| title_full_unstemmed |
Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia |
| title_sort |
shariah governance practices of islamic credit co-operatives in malaysia |
| granting_institution |
Universiti Sains Islam Malaysia |
| url |
https://oarep.usim.edu.my/bitstreams/45b86624-c718-4560-8365-2bcd6fd2df71/download https://oarep.usim.edu.my/bitstreams/a84ec84a-490e-40f3-a58d-2d156ab3f20c/download https://oarep.usim.edu.my/bitstreams/25876e12-8cea-4af9-b47c-057ff332e1f8/download https://oarep.usim.edu.my/bitstreams/3e162a8f-e77f-447c-af36-ebc8b20bc800/download https://oarep.usim.edu.my/bitstreams/e1688852-1ba5-4cb1-b1ce-bb3c4c6256b7/download https://oarep.usim.edu.my/bitstreams/c281f443-47f9-4aca-8fdf-641d4cfbc1be/download https://oarep.usim.edu.my/bitstreams/2ec55456-251e-43b2-93ca-384bb00a2452/download https://oarep.usim.edu.my/bitstreams/6e43f469-3e07-4b81-a090-191d564782c5/download |
| _version_ |
1812444786195431424 |
| spelling |
my-usim-ddms-123102024-05-29T19:30:31Z Shariah Governance Practices Of Islamic Credit Co-Operatives In Malaysia Harith Hamidi, Muhamad Isa @ Omar The Shariah governance system is an important mechanism to ensure that all the activities,operations and businesses of Islamic financial institutions adhere to the Shariah precepts and requirements. Although the Shariah governance framework concept is widely discussed in Islamic banking, in the case of Islamic Credit Co-operatives, this concept has received little attention from researchers. Hence, the purpose of this study is to explore the current practices of Shariah governance in Islamic Credit Co-operatives,particularly in its four main areas- the internal arrangement in establishing the Shariah Committee function;the roles and responsibilities of the Board of the of the Co-operatives,Shariah Committee,Management and Internal Audit Committee ;the attributes of the Shariah Committee in the term of independence,confidentiality,competency , and consistency of judgement; and also external arrangement pertaining to Shariah governance in this sector, In-depth interviews using semi-structured questions were conducted with key informants,namely,the management,Shariah Committee, ANGKASA 's Shariah Unit and with the regulator.All the interview questions were generated, structured and arranged in a way that all the data could be analysed easily using the thematic analysis approach.This study identified a serious gap in the Shariah governance system practiced by Islamic Credit Co-operatives ,due to the perfunctory attitude of the co-operatives for internal Shariah control system to support governing system.This study also found that the Co-operatives are passive and still at the basic stage of implementing good Shariah governance even after the issuance of GP28: The Guidelines of Shariah Governance for Co-Operatives . In addition,while exploring the attributes of the Shariah committee in this sector, this study demonstrates that the Shariah Committee is still in conflict when dealing with the five issues - independence , confidentiality , competency ,consistency , and transparency. Moreover , this study concluded that the nominal approach by the regulator is the root cause of the current state of Shariah governance in this sector. This position acknowledges that there are shortcomings and weakness to the existing Shariah governance framework that need further enhancement and improvement at the co-operatives and regulatory level. Thus , this study offers useful information resources that provide some relevant recommendations to the policymakers, co-operatives , and researches for future development of Shariah governance practices in Islamic Credit Co-operatives . Furthermore,this study attempts to provide fresh data and significant information pertaining to the current state of Shariah governance in Islamic Credit Co-operatives . The discussion in this study can also serve to enhance the literature on the topic. Universiti Sains Islam Malaysia 2017 Thesis en https://oarep.usim.edu.my/handle/123456789/12310 https://oarep.usim.edu.my/bitstreams/292c66e9-88c1-4c76-974a-955ecb3a9ecf/download 8a4605be74aa9ea9d79846c1fba20a33 https://oarep.usim.edu.my/bitstreams/45b86624-c718-4560-8365-2bcd6fd2df71/download b28e080b5a3803ad876a09e6e3ce9b8d https://oarep.usim.edu.my/bitstreams/a84ec84a-490e-40f3-a58d-2d156ab3f20c/download 28854bf4db078f5c56b0778ed5a6a3b7 https://oarep.usim.edu.my/bitstreams/25876e12-8cea-4af9-b47c-057ff332e1f8/download 36c3d3593bfa432e8ca6232bc93852ae https://oarep.usim.edu.my/bitstreams/3e162a8f-e77f-447c-af36-ebc8b20bc800/download 0a08631ee562a531e8869cff184048ec https://oarep.usim.edu.my/bitstreams/e1688852-1ba5-4cb1-b1ce-bb3c4c6256b7/download 4b8d976c595dacccdbc2bc5eed7127cb https://oarep.usim.edu.my/bitstreams/c281f443-47f9-4aca-8fdf-641d4cfbc1be/download 54b5a9dfff05e99776cdca95d1746b82 https://oarep.usim.edu.my/bitstreams/2ec55456-251e-43b2-93ca-384bb00a2452/download 0812171f2471530c15fd74a2817a343e https://oarep.usim.edu.my/bitstreams/6e43f469-3e07-4b81-a090-191d564782c5/download 2e0a3a28df128005eca320583ec8558b https://oarep.usim.edu.my/bitstreams/4e4e25bf-6144-431d-8d1c-934c4ab0029d/download 68b329da9893e34099c7d8ad5cb9c940 https://oarep.usim.edu.my/bitstreams/a4ddbae6-d33d-4d91-82ec-0a322e510a14/download 24e648839aa31918bceb936aff170ec0 https://oarep.usim.edu.my/bitstreams/664b9933-9254-457d-8111-f96cfd981301/download b308b7fe5c1c2bbdc0cb686d451b84aa https://oarep.usim.edu.my/bitstreams/6e0901b9-3af5-4293-b265-7d4390a1f2d9/download 11356dc174f5490538e645a4f909e252 https://oarep.usim.edu.my/bitstreams/9f58b817-65bc-467a-bbb7-f6ee4ec7865a/download 1bb607118047afc5c385b82385dd931f https://oarep.usim.edu.my/bitstreams/c134154a-6d3c-4bdb-b20b-2893d7c69b5d/download 884e307a96265ab0e1bf7bcc1f89c892 https://oarep.usim.edu.my/bitstreams/299a84c6-31bf-4158-b476-6a2cf08ce876/download 36c6f0b2061da514c400c0bc2749b5cf https://oarep.usim.edu.my/bitstreams/f1146a78-4659-41b2-bcb6-a7e16e514132/download 429079e52f342c49301a02e207bfde06 Islam--Customs and practices |