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A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi

The difference between Islamic banking and conventional banking is that Islamic banking transactions enforce Islamic transaction laws in banking practices. Thus, Islamic banks should have the capability to identify, understand and issue Islamic law in determining the status of the ongoing banking p...

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Main Author: Azmi, Muhammad Faiz
Format: Student Project
Language:English
Published: Academy of Contemporary Islamic Studies (ACIS) 2017
Subjects:
Islam and economics
Banking
Finance, Islamic
Online Access:http://ir.uitm.edu.my/id/eprint/23265/1/PPb_MUHAMMAD%20FAIZ%20AZMI%20ACI%20B%2017_5.pdf
http://ir.uitm.edu.my/id/eprint/23265/
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spelling my.uitm.ir.232652019-02-25T07:30:27Z http://ir.uitm.edu.my/id/eprint/23265/ A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi Azmi, Muhammad Faiz Islam and economics Banking Finance, Islamic The difference between Islamic banking and conventional banking is that Islamic banking transactions enforce Islamic transaction laws in banking practices. Thus, Islamic banks should have the capability to identify, understand and issue Islamic law in determining the status of the ongoing banking practice, Shariah compliant or not. In addition, Islamic banking should ensure every Islamic banking practices are compliance with Shariah on every operation on every time. This is important because the the foundation of Islamic banking establishment is the banking system compliance on Shariah law and it is a feature does not exist and contrary to conventional banking practices. To ensure compliance and the capability to understand Islam transaction laws, Islamic banking institutions have established Shariah committtee. Shariah committee is a body that has the largest authority in Islamic affairs. The main task of the Shariah committee is to advise and supervise the bank institution in Islamic affair. This committee consists of experts in various fields, especially in the field of usul fiqh (Islamic jurisprudence) and fiqh muamalat (Islamic financial). The expert on this committee expected to issue hukum properly and help ensure banks in Islamic banking principles secured. The purpose this study was to examine Shariah committee members who entrusted with ensuring Shariah compliance in banking institutions in Malaysia. This study attempts to obtain information about how the members of the committee appointed Shariah in Islamic banking institutions in Malaysia. In addition, this study will identify the relationship between the academic qualifications and the prospect to assume the position member of this committee. Hence, this study examines the expertise of the Shariah committee to determine the necessary expertise to carry out the duties and functions of the committee. The study also recommends a number of requirements who need to be prepare by individuals who want to assume the position as a member of the Shariah committee. Academy of Contemporary Islamic Studies (ACIS) 2017 Student Project NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/23265/1/PPb_MUHAMMAD%20FAIZ%20AZMI%20ACI%20B%2017_5.pdf Azmi, Muhammad Faiz (2017) A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi. [Student Project] (Unpublished)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Islam and economics
Banking
Finance, Islamic
spellingShingle Islam and economics
Banking
Finance, Islamic
Azmi, Muhammad Faiz
A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi
description The difference between Islamic banking and conventional banking is that Islamic banking transactions enforce Islamic transaction laws in banking practices. Thus, Islamic banks should have the capability to identify, understand and issue Islamic law in determining the status of the ongoing banking practice, Shariah compliant or not. In addition, Islamic banking should ensure every Islamic banking practices are compliance with Shariah on every operation on every time. This is important because the the foundation of Islamic banking establishment is the banking system compliance on Shariah law and it is a feature does not exist and contrary to conventional banking practices. To ensure compliance and the capability to understand Islam transaction laws, Islamic banking institutions have established Shariah committtee. Shariah committee is a body that has the largest authority in Islamic affairs. The main task of the Shariah committee is to advise and supervise the bank institution in Islamic affair. This committee consists of experts in various fields, especially in the field of usul fiqh (Islamic jurisprudence) and fiqh muamalat (Islamic financial). The expert on this committee expected to issue hukum properly and help ensure banks in Islamic banking principles secured. The purpose this study was to examine Shariah committee members who entrusted with ensuring Shariah compliance in banking institutions in Malaysia. This study attempts to obtain information about how the members of the committee appointed Shariah in Islamic banking institutions in Malaysia. In addition, this study will identify the relationship between the academic qualifications and the prospect to assume the position member of this committee. Hence, this study examines the expertise of the Shariah committee to determine the necessary expertise to carry out the duties and functions of the committee. The study also recommends a number of requirements who need to be prepare by individuals who want to assume the position as a member of the Shariah committee.
format Student Project
author Azmi, Muhammad Faiz
author_facet Azmi, Muhammad Faiz
author_sort Azmi, Muhammad Faiz
title A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi
title_short A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi
title_full A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi
title_fullStr A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi
title_full_unstemmed A qualitative study on Shariah Committee in Islamic Banking Institution in Malaysia : the appointment process, academic qualification and expertise / Muhammad Faiz Azmi
title_sort qualitative study on shariah committee in islamic banking institution in malaysia : the appointment process, academic qualification and expertise / muhammad faiz azmi
publisher Academy of Contemporary Islamic Studies (ACIS)
publishDate 2017
url http://ir.uitm.edu.my/id/eprint/23265/1/PPb_MUHAMMAD%20FAIZ%20AZMI%20ACI%20B%2017_5.pdf
http://ir.uitm.edu.my/id/eprint/23265/
_version_ 1685649715538952192
score 13.211869

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