The implementation of Shariah governance framework of 2010: advantages and constraints

The Central Bank of Malaysia (hereinafter referred to BNM) has introduced the guideline on Shariah Governance Framework for Islamic Financial Institutions (IFIs)(hereinafter referred to as SGF 2010) in October 2010 to have proper Shariahgovernance. All Islamic Financial Institutions in Malaysia are...

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Main Authors:	Omar, Muhammad Naim, Hassan, Rusni, Arifin, Mahamad, Mohd Napiah, Mohammad Deen, Othman, Ahmad Azam, Abdullah, Mohamad Asmadi, Yusoff, Adnan
Format:	Article
Language:	English
Published:	AENSI Journals 2014
Subjects:	KBP173.25 Islamic law and other disciplines or subjects
Online Access:	http://irep.iium.edu.my/38730/ http://irep.iium.edu.my/38730/ http://irep.iium.edu.my/38730/1/Ajbas_2014_Ustaz_Naim.pdf

id	iium-38730
recordtype	eprints
spelling	iium-387302018-06-11T05:30:28Z http://irep.iium.edu.my/38730/ The implementation of Shariah governance framework of 2010: advantages and constraints Omar, Muhammad Naim Hassan, Rusni Arifin, Mahamad Mohd Napiah, Mohammad Deen Othman, Ahmad Azam Abdullah, Mohamad Asmadi Yusoff, Adnan KBP173.25 Islamic law and other disciplines or subjects The Central Bank of Malaysia (hereinafter referred to BNM) has introduced the guideline on Shariah Governance Framework for Islamic Financial Institutions (IFIs)(hereinafter referred to as SGF 2010) in October 2010 to have proper Shariahgovernance. All Islamic Financial Institutions in Malaysia are required to adopt SGF 2010 effectively on 1st January 2011, giving the IFIs six months to comply with. Within such period, the IFIs need to confirm that they have met all the requirements and are operating in accordance with it. After one year of the implementation there is a need to study the effects of SGF 2010 on IFIs.Thus, this article investigates the advantages and constraints resulting from the implementation of SGF 2010.. The findings and analysis show that the SGF was well received by IFIs. However there are few constraints and challenges need to be rectified.. This survey was conducted through the collection of data and information by distributing the questionnaire to the respondents who are involved in IFIs’ industries such as the management of the IFIs, be it Islamic banks and Takaful institutions, Shariah Committee and Shariah Officers. Most of the data in this study were collected and analyzed using the Statistical Package for Social Sciences (SPSS) software version 16.0 and Microsoft Excel. Additional the descriptive analysis is used to determine the number of frequencies and percentages AENSI Journals 2014-08 Article PeerReviewed application/pdf en http://irep.iium.edu.my/38730/1/Ajbas_2014_Ustaz_Naim.pdf Omar, Muhammad Naim and Hassan, Rusni and Arifin, Mahamad and Mohd Napiah, Mohammad Deen and Othman, Ahmad Azam and Abdullah, Mohamad Asmadi and Yusoff, Adnan (2014) The implementation of Shariah governance framework of 2010: advantages and constraints. Australian Journal of Basic and Applied Sciences, 8 (13). pp. 684-687. ISSN 1991-8178 http://ajbasweb.com/old/ajbas/2014/August/684-687.pdf
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	KBP173.25 Islamic law and other disciplines or subjects
spellingShingle	KBP173.25 Islamic law and other disciplines or subjects Omar, Muhammad Naim Hassan, Rusni Arifin, Mahamad Mohd Napiah, Mohammad Deen Othman, Ahmad Azam Abdullah, Mohamad Asmadi Yusoff, Adnan The implementation of Shariah governance framework of 2010: advantages and constraints
description	The Central Bank of Malaysia (hereinafter referred to BNM) has introduced the guideline on Shariah Governance Framework for Islamic Financial Institutions (IFIs)(hereinafter referred to as SGF 2010) in October 2010 to have proper Shariahgovernance. All Islamic Financial Institutions in Malaysia are required to adopt SGF 2010 effectively on 1st January 2011, giving the IFIs six months to comply with. Within such period, the IFIs need to confirm that they have met all the requirements and are operating in accordance with it. After one year of the implementation there is a need to study the effects of SGF 2010 on IFIs.Thus, this article investigates the advantages and constraints resulting from the implementation of SGF 2010.. The findings and analysis show that the SGF was well received by IFIs. However there are few constraints and challenges need to be rectified.. This survey was conducted through the collection of data and information by distributing the questionnaire to the respondents who are involved in IFIs’ industries such as the management of the IFIs, be it Islamic banks and Takaful institutions, Shariah Committee and Shariah Officers. Most of the data in this study were collected and analyzed using the Statistical Package for Social Sciences (SPSS) software version 16.0 and Microsoft Excel. Additional the descriptive analysis is used to determine the number of frequencies and percentages
format	Article
author	Omar, Muhammad Naim Hassan, Rusni Arifin, Mahamad Mohd Napiah, Mohammad Deen Othman, Ahmad Azam Abdullah, Mohamad Asmadi Yusoff, Adnan
author_facet	Omar, Muhammad Naim Hassan, Rusni Arifin, Mahamad Mohd Napiah, Mohammad Deen Othman, Ahmad Azam Abdullah, Mohamad Asmadi Yusoff, Adnan
author_sort	Omar, Muhammad Naim
title	The implementation of Shariah governance framework of 2010: advantages and constraints
title_short	The implementation of Shariah governance framework of 2010: advantages and constraints
title_full	The implementation of Shariah governance framework of 2010: advantages and constraints
title_fullStr	The implementation of Shariah governance framework of 2010: advantages and constraints
title_full_unstemmed	The implementation of Shariah governance framework of 2010: advantages and constraints
title_sort	implementation of shariah governance framework of 2010: advantages and constraints
publisher	AENSI Journals
publishDate	2014
url	http://irep.iium.edu.my/38730/ http://irep.iium.edu.my/38730/ http://irep.iium.edu.my/38730/1/Ajbas_2014_Ustaz_Naim.pdf
first_indexed	2023-09-18T20:55:40Z
last_indexed	2023-09-18T20:55:40Z
_version_	1777410287465398272

The implementation of Shariah governance framework of 2010: advantages and constraints

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