Publication:
External Shari'ah audit and review committee vis-a-vis Shari'ah compliance quality and accountability: a case of Islamic banks in Bangladesh
| DC Field | Value | |
|---|---|---|
| dc.contributor.author | Md. Kausar Alam | |
| dc.contributor.author | Abu Umar Faruq Ahmad | |
| dc.contributor.author | Aishath Muneeza | |
| dc.date.accessioned | 2021-04-26T04:48:34Z | |
| dc.date.available | 2021-04-26T04:48:34Z | |
| dc.date.issued | 2020 | |
| dc.description.abstract | External Shari'ah Audit (ESA) is a control mechanism meant for formulating an objective view by an independent Shari'ah audit team about the obligation of Islamic banks' (IBs) management, personnel and other divisions towards Shari'ah compliance. This study principally aims to examine the relevancy of ESA and review committee in enhancing the level of Shari'ah compliance quality and accountability of IBs in Bangladesh. The study examines data from 17 respondents obtained via semistructured interviews and secondary sources in library. This study establishes that Shari'ah officers of IBs in Bangladesh are unable to perform audit functions properly which indicates the limitations of current Shari'ah audit functions. The study discovers the need for an independent ESA for proper auditing of IBs' operations in Bangladesh with a view to Shari'ah compliance. Thus, an ESA and review committee is imperative to enhance the quality of Shari'ah compliance and ensure accountability of all divisions within IBs. This audit is to be provided either by Bangladesh Bank (BB), the central bank of the country or a third party such as Islamic chartered accountants' firms or Shari'ah audit firms. The study would contribute to existing literature on the importance of ESA and its conditions in Bangladesh. The study also provides some instructions for global Islamic banking practice on the issues examined. The study contributes to agency, stakeholder and legitimacy theory via highlighting the inability of Shari'ah auditors to perform their function independently and efficiently. | en_US |
| dc.identifier.citation | Alam, M. K., Ahmad, A. U. F., & Muneeza, A. (2022). External Shari'ah audit and review committee vis-a-vis Shari'ah compliance quality and accountability: a case of Islamic banks in Bangladesh. Journal of Public Affairs, 22(1), Article e2364. https://doi.org/10.1002/pa.2364 | en_US |
| dc.identifier.doi | https://doi.org/10.1002/pa.2364 | |
| dc.identifier.issn | 1479-1854 (Online) | |
| dc.identifier.uri | https://ikr.inceif.org/handle/INCEIF/3363 | |
| dc.language | English | |
| dc.language.iso | eng | en_US |
| dc.publisher | John Wiley & Sons | en_US |
| dc.rights | 2020. John Wiley & Sons Ltd | |
| dc.source | SEDONA | |
| dc.subject | External Shari'ah Audit (ESA) | en_US |
| dc.subject | Islamic banks | en_US |
| dc.subject | Bangladesh | en_US |
| dc.title | External Shari'ah audit and review committee vis-a-vis Shari'ah compliance quality and accountability: a case of Islamic banks in Bangladesh | en_US |
| dc.type | Journal Article | en_US |
| dlc.maintopic | Islamic banking | en_US |
| dspace.entity.type | Publication | |
| ikr.doctype | Scholarly Works | |
| ikr.license | Publication status: Published online on 2 September 2020. Full text not available from this repository. | |
| ikr.topic.maintopic | Islamic banking | en_US |
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| relation.isAuthorOfPublication.latestForDiscovery | 81014255-5cb8-46bc-ad81-bf6d8a3a0702 | |
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