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Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia

An important factor that makes Islamic banking and finance different from conventional banking and finance is that the Islamic one follows the rules of Islamic Shari`ah, while the conventional one does not do so. In order for Islamic banking and finance to be certain that they are following the Shar...

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Main Author: Amanullah, Muhammad
Format: Conference or Workshop Item
Language:English
English
Published: 2014
Subjects:
KBP1 Islamic law.Shariah.Fiqh
Online Access:http://irep.iium.edu.my/40223/3/int_conf_on_islamic_jurisprudence_in_the_21st_century2014.pdf
http://irep.iium.edu.my/40223/4/Criteria_of_Shariah.doc.pdf
http://irep.iium.edu.my/40223/
http://www3.iium.edu.my/irkhs/icij2014/
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spelling my.iium.irep.40223 http://irep.iium.edu.my/40223/ Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia Amanullah, Muhammad KBP1 Islamic law.Shariah.Fiqh An important factor that makes Islamic banking and finance different from conventional banking and finance is that the Islamic one follows the rules of Islamic Shari`ah, while the conventional one does not do so. In order for Islamic banking and finance to be certain that they are following the Shari`ah rulings, they must have a Shari`ah supervisory board. An important duty of this board is to determine that the products, services, policies and guidelines and all other activities of an Islamic bank are in compliance with the Shari`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 also has provided some guidelines. Following analytical, comparative and critical methods 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 Shari`ah guidelines on these criteria spelled out by contemporary Muslim jurists. This paper is divided into following sections: introduction, criteria of the members of Shari`ah supervisory board according to contemporary Muslim jurists, evaluation of the guidelines of Bangladesh Bank on these criteria, evaluation of the guidelines of Bank Negara Malaysia on these criteria, comparison between the guidelines of Bangladesh Bank on these criteria and that of Bank Negara Malaysia. 2014-09-23 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/40223/3/int_conf_on_islamic_jurisprudence_in_the_21st_century2014.pdf application/pdf en http://irep.iium.edu.my/40223/4/Criteria_of_Shariah.doc.pdf Amanullah, Muhammad (2014) Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia. In: 5th International Conference on Islamic Jurisprudence in the 21st Century 2014 , 23rd-25th September 2014, Gombak, Kuala Lumpur. (Unpublished) http://www3.iium.edu.my/irkhs/icij2014/
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic KBP1 Islamic law.Shariah.Fiqh
spellingShingle KBP1 Islamic law.Shariah.Fiqh
Amanullah, Muhammad
Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia
description An important factor that makes Islamic banking and finance different from conventional banking and finance is that the Islamic one follows the rules of Islamic Shari`ah, while the conventional one does not do so. In order for Islamic banking and finance to be certain that they are following the Shari`ah rulings, they must have a Shari`ah supervisory board. An important duty of this board is to determine that the products, services, policies and guidelines and all other activities of an Islamic bank are in compliance with the Shari`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 also has provided some guidelines. Following analytical, comparative and critical methods 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 Shari`ah guidelines on these criteria spelled out by contemporary Muslim jurists. This paper is divided into following sections: introduction, criteria of the members of Shari`ah supervisory board according to contemporary Muslim jurists, evaluation of the guidelines of Bangladesh Bank on these criteria, evaluation of the guidelines of Bank Negara Malaysia on these criteria, comparison between the guidelines of Bangladesh Bank on these criteria and that of Bank Negara Malaysia.
format Conference or Workshop Item
author Amanullah, Muhammad
author_facet Amanullah, Muhammad
author_sort Amanullah, Muhammad
title Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia
title_short Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia
title_full Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia
title_fullStr Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia
title_full_unstemmed Criteria of Shari`ah supervisory board: a comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia
title_sort criteria of shari`ah supervisory board: a comparative study between guidelines of bangladesh bank and bank negara malaysia
publishDate 2014
url http://irep.iium.edu.my/40223/3/int_conf_on_islamic_jurisprudence_in_the_21st_century2014.pdf
http://irep.iium.edu.my/40223/4/Criteria_of_Shariah.doc.pdf
http://irep.iium.edu.my/40223/
http://www3.iium.edu.my/irkhs/icij2014/
_version_ 1643616779531976704
score 13.211869

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