Publication:
Shariah Accountability Practice Of Malaysian Foreign-owned Islamic Banks And Bahrain Islamic Banks

Simple item page
dc.contributor.authorRosnia Masrukien_US
dc.contributor.authorHarizHilmi Khairulannuaren_US
dc.contributor.authorBablu Kumar Dharen_US
dc.date.accessioned2024-05-28T06:09:36Z
dc.date.available2024-05-28T06:09:36Z
dc.date.issued2020
dc.date.submitted17/11/2020
dc.descriptionRosniaMasruki, HarizHilmi Khairulannuar, Bablu Kumar Dhar. (2020). Shariah Accountability Practice of Malaysian Foreign-Owned Islamic Banks and Bahrain Islamic Banks. International Journal of Advanced Science and Technology, 29(04), 5768 - 5782. Retrieved from http://sersc.org/journals/index.php/IJAST/article/view/27085en_US
dc.description.abstractTransparency is the epitome of accountability; Shariah accountability is not an exception. The lack of external audit on Shariah compliance in Malaysia to appraise Shariah internal controls is concerning. Presently, a Shariah Committee Report (SCR) is the only report pertaining to Shariah matters that is disclosed by every Islamic bank (IB) in Malaysia. Hence, this study seeks to determine the level of disclosure of the SCR of foreign-owned Islamic banks (IBs) in Malaysia and Islamic banks in Bahrain. Besides, the study also attempts to compare the disclosure practice of SCR between the two countries. The sample comprises five foreign-owned IBs in Malaysia and six IBs in Bahrain. The study uses content analysis for descriptive analysis and rubric to evaluate the SCR based on the latest 2017 annual reports of both countries. This is due to the fact that both countries are practising entirely different standardsfor accounting and auditing procedures, namely International Financial Reporting Standards (IFRS) and Accounting and Auditing of Islamic Financial Institutions (AAOIFI), Financial Accounting Standards for Malaysia and Bahrain, respectively. The study finds that the level of disclosure of SCR of IB in Bahrain is much higher than Malaysia. These findings entail significant implications for policymakers regarding matters of Shariah Reporting and Shariah Governance, also explicating the needs for future research. Keywords: Islamic Finance, Shariah Governance, Shariah Committee Report (SCR), Malaysian Foreign-Owned Islamic Banks, Bahrain Islamic Banks.en_US
dc.identifier.epage5782
dc.identifier.issn2005-4238
dc.identifier.issue4
dc.identifier.other1219-23
dc.identifier.spage5768
dc.identifier.urihttp://sersc.org/journals/index.php/IJAST/article/view/27085
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/7114
dc.identifier.volume29
dc.language.isoenen_US
dc.publisherScience and Engineering Research Support Societyen_US
dc.relation.ispartofInternational Journal of Advanced Science and Technologyen_US
dc.subjectIslamic Finance,en_US
dc.subjectShariah Governance,en_US
dc.subjectShariah Committee Report (SCR),en_US
dc.subjectMalaysian Foreign-Owned Islamic Banks,en_US
dc.subjectBahrain Islamic Banks.en_US
dc.titleShariah Accountability Practice Of Malaysian Foreign-owned Islamic Banks And Bahrain Islamic Banksen_US
dc.typeArticleen_US
dspace.entity.typePublication

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Shariah Accountability Practice of Malaysian Foreign-Owned Islamic Banks and Bahrain Islamic Banks.pdf
Size:
546.72 KB
Format:
Adobe Portable Document Format
Description:
Shariah Accountability Practice of Malaysian Foreign-Owned Islamic Banks and Bahrain Islamic Banks
Download

Collections

Other Publications