Shariah Committee Independence: An Insider's View

INCEIF Quarterly Research Bulletin, Volume 6

8 Pages Posted: 16 Mar 2015 Last revised: 16 Apr 2015

See all articles by Zulkarnain Muhamad Sori

Zulkarnain Muhamad Sori

INCEIF, The Global University of Islamic Finance

Shamsher Mohamad

University Putra Malaysia - Graduate School of Management

Mohamed Shah

International Centre for Education in Islamic Finance (INCEIF)

Date Written: March 1, 2015

Abstract

Shariah committee independence has been highlighted by the Shariah Governance Framework as an important credential for an effective functioning of Shariah committees. This study examined Shariah committee independence of local IFIs as perceived by the shariah committee members of the IFIs. The results identified Shariah committee independence safeguards and threats, and implied better effectiveness through clearly defined meaning of independence and guidelines or code of best practices as a guide for the committee and related parties.

Keywords: Governance, Shariah Governance, Independence, Safeguards, Threats

JEL Classification: G21, G34, M40, M1

Suggested Citation

Muhamad Sori, Zulkarnain and Mohamad, Shamsher and Shah, Mohamed, Shariah Committee Independence: An Insider's View (March 1, 2015). INCEIF Quarterly Research Bulletin, Volume 6. Available at SSRN: https://ssrn.com/abstract=2576539 or http://dx.doi.org/10.2139/ssrn.2576539

Zulkarnain Muhamad Sori (Contact Author)

INCEIF, The Global University of Islamic Finance ( email )

Lorong Universiti A
Kuala Lumpur, Kuala Lumpur 59100
Malaysia
+60376514173 (Phone)
8 (Fax)

HOME PAGE: http://www.inceif.org/

Shamsher Mohamad

University Putra Malaysia - Graduate School of Management ( email )

Selangor Darul Ehsan
Serdang, Selangor 43400
Malaysia

Mohamed Shah

International Centre for Education in Islamic Finance (INCEIF) ( email )

Kuala Lumpur
Malaysia

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