Determinants of maqāsiḍ al-shari'ah-based performance measurement practices: the case of Malaysian Islamic banks
This study aims at investigating the practice of Maqā sid ̣ al-Sharī‘ah based performance measures, determinants of its successful implementation and its impact on Islamic bank performance. Understanding the extent that Islamic banks are institutionalizing Maqā sid ̣ al-Sharī‘ah based performan...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
IIUM Press
2016
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/91934/1/91934_Determinants%20of%20maqa%CC%84sid%CC%A3%20al-shari%27ah.pdf http://irep.iium.edu.my/91934/ https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/393 |
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| Summary: | This study aims at investigating the practice of Maqā sid ̣ al-Sharī‘ah based
performance measures, determinants of its successful implementation and its
impact on Islamic bank performance. Understanding the extent that Islamic
banks are institutionalizing Maqā sid ̣ al-Sharī‘ah based performance
measures (Maqā sid ̣ PMs) will provide greater insights into the development
of Islamic banking in achieving the Islamic financial system objectives. A
total of 146 questionnaires were distributed to all business units of all 16
Islamic commercial banks in Malaysia. The study found that contrary to the
contemporary scepticism, Islamic banks in Malaysia are indeed promoting
and committed to achieving Maqā sid ̣ al-Sharī‘ah with the relevant
performance measures in place. Specifically, the study found that
performance measures for public interest and fairness are widely used by the
Islamic banks. With communication technology and regulatory compliance,
use of Maqā sid ̣ al-Sharī‘ah based performance measures as Islamic banks’
performance driver becomes more potent. |
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