Shariah boards: practical challenges for Islamic financial institutions
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This chapter aims to logically show that the contemporary structure of shariah supervisory boards in banks have to move towards a more aggressive compliance mode to ensure Islamic banks meet the regulatory requirements fully for all processes involved in providing shariah compliant products and services, since the industry has been in operation for more than five decades. The rapid growth of Islamic finance in recent years; something similar to other new financial products in historical times; has attracted many financial institutions, who are taking a keen interest in this growth sector.
Shariah boards , Islamic banks , Islamic financial institutions
Ramadili Mohd, S. M., Muhamad Sori, Z., & Mohd Rasid, M. E. S. (2017). Shariah boards: practical challenges for Islamic financial institutions. In Mohamed Ariff & Shamsher Mohamad Ramadili Mohd. (Eds.), Islamic wealth management: theory and practice (pp. 71-82). Cheltenham, United Kingdom: Edward Elgar Publishing Limited.
Edward Elgar Publishing Limited