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Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks

Shariah Committee (SC)is a key person in ensuring the Islamic banking business of Islamic bank comply with Shariah principles. The Board of Directors (BoD) of Islamic bank also the key person to oversee the entire operation and activities of Islamic bank. The roles and responsibilities of these two...

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Main Authors: Hussain, Mohammad Azam, Mohd Noor, Fauziah, Md. Nor, Mohd Zakhiri, Azhar, Alias
Format: Article
Language:English
Published: Bangladesh Institute of Legal Development 2022
Subjects:
HB Economic Theory
Online Access:https://repo.uum.edu.my/id/eprint/31365/1/BLJ%2007%2001%202022%2060-64.pdf
https://repo.uum.edu.my/id/eprint/31365/
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spelling my.uum.repo.313652024-10-13T06:44:02Z https://repo.uum.edu.my/id/eprint/31365/ Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks Hussain, Mohammad Azam Mohd Noor, Fauziah Md. Nor, Mohd Zakhiri Azhar, Alias HB Economic Theory Shariah Committee (SC)is a key person in ensuring the Islamic banking business of Islamic bank comply with Shariah principles. The Board of Directors (BoD) of Islamic bank also the key person to oversee the entire operation and activities of Islamic bank. The roles and responsibilities of these two bodies are crucial to the Islamic bank. In principle, the two bodies are to complement each other to monitor the Shariah compliance of Islamic bank. However, in reality there is a gap between the SC and the BoD in carrying out their roles and responsibilities in the running of Islamic banking business. This study is carried out to seek the opinion of SC in order to bridge the gap between the two bodies and to find out the best method to be offered to the Islamic bank in this regard. The data of thematic analysis is gathered from the interview of selected nine respondents. The finding shows that the gap exists between SC and BoD in several ways and several factors contributed to it. Among the three methods to be implemented in order to bridge the gap between them, it seems that the appointment of SC member to sit in the BoD is a preferred method. Several steps need to be done in order to bridge the gap between these two significant bodies of the governance structure of Islamic bank Bangladesh Institute of Legal Development 2022 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/31365/1/BLJ%2007%2001%202022%2060-64.pdf Hussain, Mohammad Azam and Mohd Noor, Fauziah and Md. Nor, Mohd Zakhiri and Azhar, Alias (2022) Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks. BiLD Law Journal, 7 (1). pp. 60-64. ISSN 2518-6523 https://bildbd.com/index.php/blj/about
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HB Economic Theory
spellingShingle HB Economic Theory
Hussain, Mohammad Azam
Mohd Noor, Fauziah
Md. Nor, Mohd Zakhiri
Azhar, Alias
Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks
description Shariah Committee (SC)is a key person in ensuring the Islamic banking business of Islamic bank comply with Shariah principles. The Board of Directors (BoD) of Islamic bank also the key person to oversee the entire operation and activities of Islamic bank. The roles and responsibilities of these two bodies are crucial to the Islamic bank. In principle, the two bodies are to complement each other to monitor the Shariah compliance of Islamic bank. However, in reality there is a gap between the SC and the BoD in carrying out their roles and responsibilities in the running of Islamic banking business. This study is carried out to seek the opinion of SC in order to bridge the gap between the two bodies and to find out the best method to be offered to the Islamic bank in this regard. The data of thematic analysis is gathered from the interview of selected nine respondents. The finding shows that the gap exists between SC and BoD in several ways and several factors contributed to it. Among the three methods to be implemented in order to bridge the gap between them, it seems that the appointment of SC member to sit in the BoD is a preferred method. Several steps need to be done in order to bridge the gap between these two significant bodies of the governance structure of Islamic bank
format Article
author Hussain, Mohammad Azam
Mohd Noor, Fauziah
Md. Nor, Mohd Zakhiri
Azhar, Alias
author_facet Hussain, Mohammad Azam
Mohd Noor, Fauziah
Md. Nor, Mohd Zakhiri
Azhar, Alias
author_sort Hussain, Mohammad Azam
title Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks
title_short Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks
title_full Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks
title_fullStr Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks
title_full_unstemmed Strengthening the relationship between Shariah Committee and Board of Directors of Islamic Banks
title_sort strengthening the relationship between shariah committee and board of directors of islamic banks
publisher Bangladesh Institute of Legal Development
publishDate 2022
url https://repo.uum.edu.my/id/eprint/31365/1/BLJ%2007%2001%202022%2060-64.pdf
https://repo.uum.edu.my/id/eprint/31365/
https://bildbd.com/index.php/blj/about
_version_ 1814057290894934016
score 13.211869

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