Duties and decision-making guidelines for Shari‘ah committee : an overview of BNM
Joint Authors
Aman Allah, Muhammad
Zayn, Muhammad Nabil Fikri Bin Mhd
Source
Issue
Vol. 16, Issue 3 (s) (31 Dec. 2019), pp.300-318, 19 p.
Publisher
International Islamic University Malaysia
Publication Date
2019-12-31
Country of Publication
Malaysia
No. of Pages
19
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Abstract EN
Shari`ah committee of every Islamic bank or other Islamic financial institutions has some specific duties.
Likewise, this committee should follow some guidelines in making its decisions.
Bank Nigara Malaysia (BNM) has prescribed these duties and decision-making guidelines in its Sharī‘ah Governance Framework (SGF).
Using analytical and critical methods, this research paper aims to study these duties and decision-making guidelines.
The duties of the Sharī‘ah Committee set by BNM include the basic principle of advising, endorsing, supervising, assisting, consulting and reporting on Sharī‘ah matters.
Besides that, the decision-making guidelines for Sharī‘ah Committee by BNM are well-structured and practical.
This study contributes to the related literature by showing that the country’s support towards the Islamic finance sector, through BNM’s guidelines, may help the development of IFIs in the country.
The results drawn from this study may help policymakers to develop better duties and decision-making guidelines for Sharī‘ah Committees.
This study is limited to the SGF issued by BNM in 2010 only.
American Psychological Association (APA)
Aman Allah, Muhammad& Zayn, Muhammad Nabil Fikri Bin Mhd. 2019. Duties and decision-making guidelines for Shari‘ah committee : an overview of BNM. Journal of Islam in Asia،Vol. 16, no. 3 (s), pp.300-318.
https://search.emarefa.net/detail/BIM-1107158
Modern Language Association (MLA)
Aman Allah, Muhammad& Zayn, Muhammad Nabil Fikri Bin Mhd. Duties and decision-making guidelines for Shari‘ah committee : an overview of BNM. Journal of Islam in Asia Vol. 16, no. 3 (Special issue) (Dec. 2019), pp.300-318.
https://search.emarefa.net/detail/BIM-1107158
American Medical Association (AMA)
Aman Allah, Muhammad& Zayn, Muhammad Nabil Fikri Bin Mhd. Duties and decision-making guidelines for Shari‘ah committee : an overview of BNM. Journal of Islam in Asia. 2019. Vol. 16, no. 3 (s), pp.300-318.
https://search.emarefa.net/detail/BIM-1107158
Data Type
Journal Articles
Language
English
Notes
Record ID
BIM-1107158