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Sharīah-compliance ratings of the Islamic financial services industry : a quantitative approach
المؤلف
المصدر
ISRA International Journal of Islamic Finance
العدد
المجلد 10، العدد 2 (31 ديسمبر/كانون الأول 2018)، ص ص. 162-184، 23ص.
الناشر
الأكاديمية العالمية للبحوث الشرعية
تاريخ النشر
2018-12-31
دولة النشر
ماليزيا
عدد الصفحات
23
التخصصات الرئيسية
العلوم الاقتصادية والمالية وإدارة الأعمال
الملخص EN
Purpose – This study aims to develop a Sharīʿah-compliance rating mechanism for the Islamic financial services industry (IFSI), with a special focus on banking.
The banking sector is taken as the area of focus due to its leadership role in the volume of global Sharīʿah-compliant assets.
Design/methodology/approach – The objectives of the Islamic financial system (IFS) are selected as the basis for ratings.
A range of performance indicators (leading to achievement of the objectives) is grouped into four broader categories and used in the study to allocate scores with a sum total of 100.
Special considerations – including the amount of resources required in performing an activity, suitability of prevailing business conditions, the degree of compulsion/discretion in performing a task and linkage with the essence of the IFS – were taken into account in the allocation of scores.
Findings – This study groups multiple performance measures into four categories, including portfolio construction (deposits mechanism, participatory and asset-based modes of financing), access to finance (service to the less-privileged and sector screening), reputation (disclosures and stakeholders’ survey) and Sharīʿah governance (Sharīʿah supervision and controls, charitable operations, human resources, product development and organization).
The Portfolio, Audit, Reputation and System (PARS) rating system is then developed.
Practical implications – A Sharīʿah-compliance rating system is helpful in measuring the progress towards goal achievement of the IFS and in gaining stakeholders’ trust.
It is also important for Sharīʿah boards and regulators in policy formulation, for management in addressing weaknesses and taking corrective measures and potentially for standard-setting bodies.
Originality/value – This study presents a comprehensive quantitative Sharīʿah-compliance rating mechanism, taking into consideration the objectives of the IFS – equitable distribution of wealth and financial stability, in addition to Sharīʿah-compliance in operations.
Development of Sharīʿah-compliance quality ratings for Islamic banking is essential to gain customers’ trust; the suggestedmethodology is thus a contribution to the literature on Islamic finance.
Keywords Sharīʿah governance, Islamic banking portfolio, Sharīʿah-compliance ratings, Sharīʿah audit, Islamic financial services
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
Hanif, Muhammad. 2018. Sharīah-compliance ratings of the Islamic financial services industry : a quantitative approach. ISRA International Journal of Islamic Finance،Vol. 10, no. 2, pp.162-184.
https://search.emarefa.net/detail/BIM-965751
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
Hanif, Muhammad. Sharīah-compliance ratings of the Islamic financial services industry : a quantitative approach. ISRA International Journal of Islamic Finance Vol. 10, no. 2 (2018), pp.162-184.
https://search.emarefa.net/detail/BIM-965751
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
Hanif, Muhammad. Sharīah-compliance ratings of the Islamic financial services industry : a quantitative approach. ISRA International Journal of Islamic Finance. 2018. Vol. 10, no. 2, pp.162-184.
https://search.emarefa.net/detail/BIM-965751
نوع البيانات
مقالات
لغة النص
الإنجليزية
الملاحظات
Text in English ; abstracts in .
رقم السجل
BIM-965751
قاعدة معامل التأثير والاستشهادات المرجعية العربي "ارسيف Arcif"
أضخم قاعدة بيانات عربية للاستشهادات المرجعية للمجلات العلمية المحكمة الصادرة في العالم العربي
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