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Analysis on Shariah governance in Islamic banking: a comparative perspective

Hasan, Aznan and Md. Sawari, Mohd. Fuad (2011) Analysis on Shariah governance in Islamic banking: a comparative perspective. In: International Conference on Shariah Governance in Islamic Banking Across Jurisdiction, 3 December 2011, Inna Garuda Hotel, Yogyakarta, Indonesia. (Unpublished)

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Abstract

Shariah governance is the essence for a comprehensive regulatory and supervisory infrastructure of Islamic Banking and Finance system. It is the vehicles of the Islamic banking and financial regulatory and supervisory infrastructure. The overall compliance of Islamic banking and financial business is solely depending on the adequacy and efficiency of the Shariah governance. Ignoring or neglecting Shariah governance means creating a vacuum, and thus resulting to undermining the integrity of the Islamic financial system. Although the framework for Shariah Governance varies from one jurisdiction to another, generally the Shariah governance would comprise of two vital components vis-a-vis the Shariah advisory body appointed by regulators and the Shariah body set up by a financial institution in the Islamic banking and finance industry. This research aims to provide a comparative analysis and review of Shariah governance structures practices in different countries. The outcome of the research will contribute to the development of Islamic banking and financial institutions across the jurisdictions specifically in the regulatory framework governing practices on Shariah governance including the structures of Shariah Advisory Boards, their functions, rights and responsibilities. Apart from that, this research also aims to improve the current practices of Shariah governance in Islamic banking and finance industry.

Item Type: Conference or Workshop Item (Lecture)
Additional Information: 1469/8628
Uncontrolled Keywords: Islamic banking, shariah governance, Islamic finance, Islamic law, across jurisdictions
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP100 Sacred books > BP140 Islamic law (Fiqh)
H Social Sciences > HG Finance > HG1501 Banking
K Law > KBP Islamic Law
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Islamic Revealed Knowledge and Human Sciences > Department of Fiqh and Usul al-Fiqh
Depositing User: Dr Fuad Sawari
Date Deposited: 14 Dec 2011 10:27
Last Modified: 14 Dec 2011 10:27
URI: http://irep.iium.edu.my/id/eprint/8628

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