Mohd Zamri, Muhammad Mundzir and Abdullah, Nurul Khofifah and Hamid, Ros Syammimi and Rosman, Romzie and Mohd Asni, Muhammad Fathullah Al-Haq
(2026)
Qur’anic foundations for the institutionalisation of external shariah audit in Malaysian Islamic financial institutions: towards a maqāṣid-oriented governance framework.
Journal of Maʿālim al-Qurʾān wa al-Sunnah, 22 (1).
pp. 236-253.
ISSN 1823-4356
E-ISSN 2637-0328
Abstract
External Shariah Audit (ESA) has increasingly been recognised as a strategic mechanism for strengthening Shariah governance, transparency, and stakeholder confidence within Islamic Financial Institutions (IFIs). Despite its growing significance, existing discussions on ESA remain largely regulatory and procedural, with limited attention given to its epistemological foundations within the Qur’anic worldview. This study aims to develop a conceptual framework for ESA grounded in Qur’anic guidance and aligned with the objectives of Shariah (Maqāṣid al-Sharīʿah), thereby bridging contemporary governance requirements with Islamic normative principles. Employing a qualitative research design, the study utilises document analysis of selected Qur’anic verses, classical tafsīr literature, and key Malaysian regulatory instruments, namely the Islamic Financial Services Act 2013 (IFSA 2013) and the Shariah Governance Policy Document (SGPD 2019) issued by Bank Negara Malaysia. Through thematic and interpretive analysis, the study identifies five foundational Qur’anic principles that underpin the development of ESA: independence (Qur’an 4:135), third-party verification and evidential assurance (Qur’an 2:282), checks and balances (Qur’an 4:105), transparency (Qur’an 5:8), and good governance based on justice and trustworthiness (Qur’an 4:58). The findings reveal a strong conceptual convergence between these Qur’anic principles and the operational requirements of contemporary Shariah auditing, including auditor impartiality, independent assurance, objective reporting, evidential documentation, and ethical accountability. The study argues that ESA should not be viewed merely as a technical compliance function but rather as a holistic governance mechanism that embodies the Qur’anic values of justice (ʿadl), trust (amānah), and accountability (masʾūliyyah). By embedding these principles within audit structures and governance practices, ESA can enhance institutional integrity, mitigate Shariah non-compliance risks, strengthen public trust, and contribute meaningfully to the realization of maqāṣid al-Sharīʿah in Malaysia’s Islamic finance ecosystem.
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