In search of the perceptions of the Shari’ah scholars on Shari’ah governance system

Salam,

My recent article published in the International Journal of Islamic and Middle Eastern Finance and Management ” (2014) Volume 7 Issue 1 entitled “In search of the perceptions of the Shari’ah scholars on Shari’ah governance system”.

Available at: http://www.emeraldinsight.com/journals.htm?issn=1753-8394&volume=7&issue=1&articleid=17108405&show=pdf

Document Information:
Title: In search of the perceptions of the Shari’ah scholars on Shari’ah governance system
Author(s): Zulkifli Hasan, (Islamic Science University of Malaysia)
Citation: Zulkifli Hasan, (2014) “In search of the perceptions of the Shari’ah scholars on Shari’ah governance system”, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 7 Iss: 1
Article type: Research paper
Publisher: Emerald Group Publishing Limited
Abstract:
Purpose – This article examines the Shari’ah scholars’ perception on Shari’ah governance system in Islamic financial institutions (IFIs) particularly to six its major areas namely issues of Shari’ah governance, internal framework, roles and functions of Shari’ah board, attributes of Shari’ah board members on independence, competency and transparency, and confidentiality, operational procedures and assessment of the Shari’ah board’s performance

Design/methodology/approach – The study conducted semi-structured interviews with Shari’ah scholars who are members of the Shari’ah boards in various IFIs. All interview questions were generated, structured and arranged in a way that all the data could be analysed easily through a coding and thematic approach.

Findings – The study discovers the different points of view demonstrated by the Shari’ah scholars who were interviewed on several issues and they have also conceded that there are serious gaps and weaknesses prevalent in all the six major areas of Shari’ah governance. This position acknowledges that there are shortcomings and weaknesses to the existing governance framework which needs further enhancement and improvement.

Practical implications – The study offers a useful source of information that may provide relevant guidelines to policymakers and practitioners for future development of Shari’ah governance practices in IFIs.

Originality/value – The study provides fresh data and significant information pertaining to the Shari’ah scholars’ perspective on Shari’ah governance system. This analysis on the various opinions of Shari’ah scholars on the aspect of Shari’ah governance system can also serve as an additional literature on the topic.

Regards
Zulkifli Hasan
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Mob TV

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