Proposed approach for best practices of Shari'ah corporate governance in the Malaysian Islamic capital market

Kasim, Nawal and Htay, Sheila Nu Nu and Salman, Syed Ahmed (2014) Proposed approach for best practices of Shari'ah corporate governance in the Malaysian Islamic capital market. Research Journal of Applied Sciences, Engineering and Technology, 8 (20). pp. 2146-2149. ISSN 2040-7459 E-ISSN 2040-7467

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Abstract

With the rapid growth of Islamic finance industry, the countries offering Islamic products should be preparing standards and guidelines to cater for current market needs to ensure that the industry is operating in a conducive environment. Since Malaysia strives to position itself as a hub for Islamic finance, it must ensure that it proactively works towards moulding the industry. With the needs of the industry, the Central Bank of Malaysia has issued the Shari'ah Governance Framework for Islamic banks and Takaful. This was necessary in view of the lack of guidelines best practices in Shari'ah corporate governance in the Malaysian Islamic capital market. To this end, this study seeks to determine the approach best suited to establish a framework of Shari'ah corporate governance for listed companies in Malaysia. The interview results show that the hybrid approach is best suited to provide the general guidelines as a reference while accommodating the flexibility of Islamic law. © Maxwell Scientific Organization, 2014.

Item Type:	Article (Journal)
Additional Information:	6177/51986
Uncontrolled Keywords:	Hybrid approach, Islamic capital market, Malaysia, Shari’ah governance
Subjects:	B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5410 Marketing. Distribution of products
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Dr. Sheila Nu Nu Htay
Date Deposited:	20 Sep 2017 11:48
Last Modified:	20 Sep 2017 11:48
URI:	http://irep.iium.edu.my/id/eprint/51986

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