Perceptions on Shariah governance framework of Islamic Banking in Oman : issues and challenges
Other Title(s)
تصورات حول إطار الحوكمة الشرعية للصيرفة الإسلامية في عمان : قضايا و تحديات
Joint Authors
al-Nawfali, Abd al-Rahman
Ali, Enku Rabiah Adawiyah Enku
Source
International Journal of Fiqh and Usul Al-fiqh Studies
Issue
Vol. 3, Issue 2 (31 Dec. 2019), pp.106-121, 16 p.
Publisher
Publication Date
2019-12-31
Country of Publication
Malaysia
No. of Pages
16
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Abstract EN
Oman has adopted Sharī’ah governance framework which is very similar to other countries that face issues of Sharī’ah governance such as independence, competency and disclosure.
Therefore, this study will examine these main issues in the Sharī’ah governance framework of Oman.
This paper aims to examine the current practice of Sharī’ah governance in Oman from the perspectives of Sharī’ah advisors, bankers and regulators.
The paper focuses on the present practice of Sharī’ah governance framework and related issues such as independence, competency and disclosure.
The paper uses the descriptive research method in terms of collecting secondary data and information for the literature review.
Since the availability of data and information on Sharī’ah governance practices in Oman is very limited, a semi-structured interview was conducted with Sharī’ah advisors, officers and regulators to explore their perceptions on Sharī’ah governance and related issues.
The findings of the paper reveal that the regulators have put in place an excellent Sharī’ah governance framework and it may be considered as one of the best frameworks in the Islamic banking industry.
However, there are shortcomings and weaknesses in the current practice of Sharī’ah governance framework, such as lack of experience, lack of research in the field of Islamic banking and finance and low position of internal Sharī’ah review.
This study provides and proposes some recommendations for enhancing the present Sharī’ah governance framework.
American Psychological Association (APA)
al-Nawfali, Abd al-Rahman& Ali, Enku Rabiah Adawiyah Enku. 2019. Perceptions on Shariah governance framework of Islamic Banking in Oman : issues and challenges. International Journal of Fiqh and Usul Al-fiqh Studies،Vol. 3, no. 2, pp.106-121.
https://search.emarefa.net/detail/BIM-965493
Modern Language Association (MLA)
al-Nawfali, Abd al-Rahman& Ali, Enku Rabiah Adawiyah Enku. Perceptions on Shariah governance framework of Islamic Banking in Oman : issues and challenges. International Journal of Fiqh and Usul Al-fiqh Studies Vol. 3, no. 2 (Dec. 2019), pp.106-121.
https://search.emarefa.net/detail/BIM-965493
American Medical Association (AMA)
al-Nawfali, Abd al-Rahman& Ali, Enku Rabiah Adawiyah Enku. Perceptions on Shariah governance framework of Islamic Banking in Oman : issues and challenges. International Journal of Fiqh and Usul Al-fiqh Studies. 2019. Vol. 3, no. 2, pp.106-121.
https://search.emarefa.net/detail/BIM-965493
Data Type
Journal Articles
Language
English
Notes
Includes appendix : p. 120-121
Record ID
BIM-965493