Publication:
Shariah boards: practical challenges for Islamic financial institutions
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Date
2017
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Abstract
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.
Keywords
Shariah boards , Islamic banks , Islamic financial institutions
Citation
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.
Publisher
Edward Elgar Publishing Limited
Available in physical copy and e-book (Call number: BP 190.5 W4 I82)
DOI
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Person
Shamsher Mohamad Ramadili Mohd
shamsher@inceif.org
Director, BNP-Paribas-INCEIF Centre for Islamic Asset and Wealth Management
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Person
Zulkarnain Muhamad Sori
zulkarnain@inceif.org
Deputy Director, BNP-Paribas-INCEIF Centre for Islamic Asset and Wealth Management