Criteria of Sharī‘ah supervisory committee: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia

Amanullah, Muhammad (2015) Criteria of Sharī‘ah supervisory committee: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia. Intellectual Discourse, 23 (Spec.I). pp. 453-473. ISSN 0128-4878 E-ISSN 2289-5639

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Abstract

Islamic banking and finance differs from conventional banking and finance in that it follows the rules of Sharī‘ah. In order to ensure that Islamic banking and finance follows the Sharī‘ah rulings, it is essential for it to have a Sharī‘ah supervisory board. An important duty of this board is to determine that the products, services, policies, guidelines and all other activities performed by the Islamic bank, are in compliance with the Sharī‘ah rulings. To perform their duty properly, the members of this board should possess certain criteria. Bangladesh Bank has spelled out some guidelines for these criteria briefly. Likewise, Bank Negara Malaysia has provided some guidelines. The main objectives of this research paper are to highlight the guidelines of these two banks on these criteria, compare them and evaluate them in light of Sharī‘ah guidelines on these criteria spelled out by contemporary Muslim jurists.

Item Type:	Article (Journal)
Additional Information:	3031/49545
Uncontrolled Keywords:	Bangladesh Bank; Bank Negara Malaysia; Islamic bank; Sharīʿah; Sharīʿah supervisory board
Subjects:	H Social Sciences > HG Finance > HG1501 Banking K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Islamic Revealed Knowledge and Human Sciences > Department of Fiqh and Usul al-Fiqh
Depositing User:	Prof Muhammad Amanullah Amanullah
Date Deposited:	13 Feb 2016 12:02
Last Modified:	18 Jul 2016 08:23
URI:	http://irep.iium.edu.my/id/eprint/49545

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