Post implementation of shariah governance framework: The impact of shariah audit function towards the role of shariah committee

• Main Authors: Shafii Z., Abidin A.Z., Salleh S., Jusoff K.,, Kasim N.
• Format: Article
• Language: English
• Published: 2017
• Subjects: Shariah audit; Shariah committee; Shariah governance framework
• Online Access: http://ddms.usim.edu.my:80/jspui/handle/123456789/15444

Recent issuance of Shariah Governance Framework by Bank Negara Malaysia has shown a significant impact towards the establishment of the Shariah audit and consequently, towards the role of the Shariah Committee. It is the aim of this paper to study on the impact of the Shariah audit function towards the role of Shariah Committee with regards to the post implementation of the Shariah Governance Framework. The study adopts a single case study research. Findings from invdepth interviews reveal that the Shariah audit function has an added value in ensuring the compliance towards the Shariah principles. This study also provides challenging issues faced by the Shariah Committee of the selected establishment. Hence, it is believed that this study can be benefited by other IFIs in improving their Shariah Committees structure. Future studies could be done to examine post implementation effect of the adoption of Shariah governance framework in the context of other functions such as Shariah research, Shariah risk management and Board of Directors. © IDOSI Publications, 2013.