Application of Shariah governance framework in Islamic financial institutions
Views & Download
This chapter provides discussion on a study that investigates the perceptions on shariah governance practices among Malaysian Islamic financial institutions. The chapter explores the effectiveness of implementation of Shariah Governance Framework among Malaysian IFIs with the focus on their level of commitment, the challenges and suggestions to further improve the effectiveness of implementation of this framework. The system of corporate control, effective and efficient governance that is consistent with shariah guidance has been an important agenda for Islamic Financial Institutions (IFIs) since the existence ofIslamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. The well-functioning Islamic finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with the shariah guidance.
Shariah governance , Shariah governance framework , Islamic financial institutions (IFIs) , Malaysia
Muhamad Sori, Z., Ramadili Mohd, S. M., & Mohd Rasid, M. E. S. (2019). Application of Shariah governance framework in Islamic financial institutions. In Zulkarnain Muhamad Sori, Sazali Abdul Wahab & Mahmoud Al Homsi (Eds.), Contemporary issues in financial reporting of Islamic financial institution (pp. 151-170). Kota Bharu, Kelantan: UMK Press.