Shariah governance expertise and profession : educational challenges in Islamic finance
Joint Authors
Faruq, Sayyid
Faruq, Muhammad Umar
Source
ISRA International Journal of Islamic Finance
Issue
Vol. 5, Issue 1 (30 Jun. 2013), pp.137-160, 24 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2013-06-30
Country of Publication
Malaysia
No. of Pages
24
Main Subjects
Economy and Commerce
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Islamic jurisprudence
- Financial institutions
- Islam
- Education
- Financing
- Costs
- Debts
- Risk management
- Scientists
- Islamic World
- Independent judgement
- Governance
- Religious aspects
- Partnerships
- Financial services industry
- Experience
- Islamic Banks
- Conflict of interests
Abstract EN
The shortage of qualified Shariah practitioners (scholars) is a major challenge facing the Islamic finance industry, which relies on the high concentration of a few top scholars/practitioners for Shariah compliance assurance.
A good number of the top practitioners have risen to prominence in the absence of any recognized standard or requirement for this profession.
Their qualification and training which equip them with the necessary skills to be effective in dealing with the complexities and linkages in a modern economy and financial system is an important area of concern.
These challenges can be addressed in the long-run by taking a number of steps : (a) establishing educational and training institutions with relevant programmes ; (b) designing curriculum and setting standards for qualifying Shariah practitioners as a professional pool to serve the industry; and (c) forming a professional body to recognise and certify Shariah practitioners just as is done in any modern professional discipline.
This conceptual paper examines the pertinent issues and delineates a brief outline of a qualification framework to initiate the relevant discourse.
American Psychological Association (APA)
Faruq, Sayyid& Faruq, Muhammad Umar. 2013. Shariah governance expertise and profession : educational challenges in Islamic finance. ISRA International Journal of Islamic Finance،Vol. 5, no. 1, pp.137-160.
https://search.emarefa.net/detail/BIM-717669
Modern Language Association (MLA)
Faruq, Sayyid& Faruq, Muhammad Umar. Shariah governance expertise and profession : educational challenges in Islamic finance. ISRA International Journal of Islamic Finance Vol. 5, no. 1 (Jun. 2013), pp.137-160.
https://search.emarefa.net/detail/BIM-717669
American Medical Association (AMA)
Faruq, Sayyid& Faruq, Muhammad Umar. Shariah governance expertise and profession : educational challenges in Islamic finance. ISRA International Journal of Islamic Finance. 2013. Vol. 5, no. 1, pp.137-160.
https://search.emarefa.net/detail/BIM-717669
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 158-160
Record ID
BIM-717669