Shariah Governance Practices at Islamic Banks in Bahrain From Islamic Bankers’ Perspective

Sutan Emir Hidayat, Ali Khaled Al-Khalifa

Abstract


This study aims to evaluate the Islamic banks' commitment towards Sharia Governance in Bahrain. This study utilizes both quantitative and qualitative research methods. The survey results reveal that Islamic banks in Bahrain practice 7 out of 9 questions in the questionnaire, which are related to Sharia governance aspects as per the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)'s governance standards. The interview results also reveal that the Islamic banks are practicing most aspects of Sharia governance. The results of this paper can be an input for the regulator and the banks' management to make decisions to improve Sharia governance practice among Islamic banks in Bahrain.

DOI: 10.15408/aiq.v10i1.5991


Keywords


shariah governance; Islamic banks; AAOIFI governance standards

Full Text:

PDF

References


AAOIFI. (2010). Accounting, Auditing and Governance Standards. Manama: AAOIFI.

Ahmed, M & M. Khatun. (2013). The Compliance with Sharia Governance System of AAOIFI: A Study on Islamic Banks Bangladesh. Journal of Islamic Economics, Banking and Finance. 9(3): 177-191.

Ahmed, H. (2014). Islamic Banking and Shari’ah Compliance: A Product Development Perspective. Journal of Islamic Finance. 3(2): 15-29.

Bank Negara Malaysia. (2014). Harmonisation to Enhance Global Competitiveness for Islamic Finance. Kuala Lumpur: Bank Negara Malaysia.

El-Gamal, M. (2003). Involving Islamic Banks in Central Bank Open Market Operations, Thunderbird International Business Review. 41 (4/5): 54- 76.

Farook, S. Z., & M.O. Farooq. (2013). Sharia Governance, Expertise and Profession: Educational Challenges in Islamic Finance. ISRA International Journal of Islamic Finance. 5(1): 137-160.

Hamza, H. (2013). Sharia Governance in Islamic Banks: Effectiveness and Supervision Model. International Journal of Islamic and Middle Eastern Finance and Management. 6(3): 226-237.

Haqqi, A.R. (2014). Sharia Governance in Islamic Financial Institutions: An Appraisal. US-China Law Review. 11(112): 112-133.

Hidayat, S.E. (2016). Bahrain’s Position as One of the World’s Islamic Economy Hubs: An Evaluation. Islamic Finance News. 13(2): 22.

Hidayat, S.E. (2017). Benefits and Challenges of Sharia Convergence: Educators’ Opinion in Bahrain. International Journal of Pedagogical Innovations, 5(2): 117-121.

Kassim, N., S.N. Htay, & S.A. Salman. (2013). Comparative Analysis on AAOIFI, IFSB and BNM Shari’ah Governance Guidelines. International Journal of Business and Social Science. 4(15): 220-227.

Liang, Q., P. Xu, & P. Jiraporn. (2013). Board Characteristics and Chinese Bank Performance. Journal of Banking & Finance. 37(8): 2953-2968.

Shafii, Z., A.Z. Abidin., S. Salleh., K. Jusoff., & N. Kasim. (2013). Post Implementation of Sharia Governance Framework: The Impact of Sharia Audit Function Towards the Role of Sharia Committee. Middle East Journal of Scientific Research. 13 (SPLISSUE): 7-11.

Waemustafa, W. & A. Abdullah. (2015). Mode of Islamic Bank Financing: Does Effectiveness of Sharia Supervisory Board Matter? Australian Journal of Basic and Applied Sciences. 37(9): 458-464.




DOI: https://doi.org/10.15408/aiq.v10i1.5991

Refbacks

  • There are currently no refbacks.




Hasil gambar untuk DOAJ CrossRef/public/site/images/rianto-arif/logogaruda-kecil_94 http://onesearch.id/themes/ischolarly/images/logo-onesearch-icon.png

MoraRefISJD LIPISHERPA/RoMEO Logo

Hasil gambar untuk neliti.com

 

View My Stats

License

This work is licensed under CC BY-SA

© All rights reserved 2015.