Publication:

Shariah non-compliant events in the Malaysian Islamic banking industry: Shariah and legal studies

Abstracts views

280

Views & Download

0

Date
2019
SDG:
Abstract
Shariah compliance is the core of Islamic finance and it is the most significant feature for any Islamic financial institutions. It is the very objective of Islamic financial institutions in all their operations, products and affairs. With the enforcement of IFSA 2013, penalties and consequences of not following Shariah compliance can be severe. Notwithstanding all the efforts that have been taken to strengthen the Shariah compliance framework and mitigate the occurrence of Shariah non-compliance at the Malaysian Islamic banking institutions, incidences of Shariah non-compliance do still emerge and materialise. Thus, this study is an effort to examine the subject of Shariah non-compliant (SNC) events in selected Malaysian Islamic banking institutions. The researcher attempts to explore the nature and framework of SNC events in the Malaysian Islamic banking industry by giving emphasis on on the four main aspects of SNC events i.e. (i) detection, (ii) rectification, (iii) implication and (iv) cause. This research is a qualitative study in nature. Data was collected using in-depth interviews and focus group discussion. The selected interviewees and participants are individuals who are involved directly with the day-to-day Shariah non-compliance management at the Malaysian Islamic banking institutions. The first chapter dealt with the introduction to this study, covering the objectives, problem statements, research questions, motivation and significance of the study. Then, the second chapter elaborated on the main SNC elements form Islamic legal perspective as well as the development of Malaysian Islamic banking system based on the principles of Shariah compliance. The third chapter reviewed previous literature related to Shariah non-compliance in Islamic banking and finance. The fourth chapter described the methodology adopted to realise the objective of this study namely interview, focus group, triangulation and content analysis. The fifth chapter discussed the results of the interviews and focus group discussion. Then, the sixth chapter presented the main findings of this research based on its four objectives. Both chapters five and six constitute the findings of this research. The final chapter concluded the study with several implications and recommendations.
Keywords
Shariah non-compliant events , Islamic banking law , Islamic banking , Malaysia
Citation
Jalil, A. (2019). Shariah non-compliant events in the Malaysian Islamic banking industry: Shariah and legal studies (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3360
Publisher
INCEIF

Available in physical copy only (Call Number: t HG 3368 A6 A136S)

DOI

Link Entity

Person Search Results

Your search returned no results. Having trouble finding what you're looking for? Try putting quotes around it