... and terms of appointment of the Sharīʿah Secretariat to set a uniform benchmark for all IBs in Bangladesh. It is anticipated that the outcomes of this research will assist to further strengthen the Sharīʿah governance of IBs in Bangladesh. Research limitations/implications This research contributed...

...Abul Hassan; M. Sadiq Sohail; Md Mahfuzur Rahaman Munshi Purpose This study aims to investigate and point out the variations of agency theory in the context of Sharīʿah governance in Islamic banking operations in the Kingdom of Saudi Arabia (KSA). Design/methodology/approach The study followed...

... to purify ineligible income received by the institutions. SNCI is income generated from transactions that breach governing Sharīʿah principles – principles that are determined by the SCs of IFIs or other Sharīʿah authorities. Internal control Islamic financial institutions (IFIs) Sharīʿah governance...

... the main requirements for effective Sharīʿah governance. Second, Islamic financial institutions (IFIs) need to pay more attention to following the Sharīʿah audit process in order to achieve the objective of effective Sharīʿah governance. Finally, the dearth of empirical research on the role...

... the addition of market-based performance indicators such as Tobin’s Q. Practical implications This study recommends the GCC countries to follow a more proactive Sharīʿah governance model to strengthen their frameworks from both regulatory and non-regulatory aspects. Originality/value The study...

... are presented hereunder. Nigeria Dispute resolution Sharīʿah compliance Sharīʿah governance FRACE Sharīʿah advisory council Islamic finance disputes Sharīʿah issues SAC Islamic finance has assumed an important place in Nigeria’s banking and finance scene since its formal and full-fledged...

... and stakeholders’ survey) and Sharīʿah governance (Sharīʿah supervision and controls, charitable operations, human resources, product development and organization). The Portfolio, Audit, Reputation and System (PARS) rating system is then developed. Practical implications A Sharīʿah-compliance rating system...

...Mohamad Akram Laldin; Hafas Furqani Purpose This paper aims to observe the development of the Sharīʿah governance framework (SGF) and practice in Islamic financial institutions (IFIs) in Malaysia. Design/methodology/approach The study is a qualitative-based research. It uses various documents...

... Sharīʿah compliance Sharīʿah governance Cooperative Mushārakah mutanāqiṣah (MM) or diminishing mushārakah is a combination of the mushārakah (partnership) contract and ijārah (lease) contract. In this structure, the equity of the financier will be gradually...

.... Findings This paper asserts that Islamic banking in Turkey diverges from Islamic banking practices of prominent countries by not having a Sharīʿah governance framework at either a national or bank level. Turkey is thus immediately in need of a sound Sharīʿah governance framework. Increasing the variety...