Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based

Tawarruq is a new phenomenon in the Islamic financial landscape. It has gained wide acceptance from the market due to its inherent characteristics that can offer similar features as the conventional structure. Nevertheless, tawarruq is exposed to a high degree of shari’ah non-compliant risk mainly...

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Main Authors:	Ali, Mohammad Mahbubi, Hassan, Rusni
Format:	Article
Language:	English English English
Published:	International Islamic University Malaysia 2016
Subjects:	BP173.75 Islam and economics
Online Access:	http://irep.iium.edu.my/56410/ http://irep.iium.edu.my/56410/ http://irep.iium.edu.my/56410/1/56410_Determinants%20of%20shariah%20non-compliant%20events%20in%20Islamic%20banks%20in%20Malaysia.pdf http://irep.iium.edu.my/56410/2/56410_Determinants%20of%20shariah%20non-compliant%20events%20in%20Islamic%20banks%20in%20Malaysia_WoS.pdf http://irep.iium.edu.my/56410/13/56410_Determinants%20of%20shariah%20non-compliant_SCOPUS.pdf

id	iium-56410
recordtype	eprints
spelling	iium-564102019-06-25T03:47:07Z http://irep.iium.edu.my/56410/ Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based Ali, Mohammad Mahbubi Hassan, Rusni BP173.75 Islam and economics Tawarruq is a new phenomenon in the Islamic financial landscape. It has gained wide acceptance from the market due to its inherent characteristics that can offer similar features as the conventional structure. Nevertheless, tawarruq is exposed to a high degree of shari’ah non-compliant risk mainly because it involves a series of sale contracts in succession. The present study investigates the determinants of shari’ah non-compliant events (SNEs) in tawarruq-based financing as practiced by Islamic banks in Malaysia. The study adopts the Analytic Network Process (ANP) gathering different views of experts from practitioners, regulators, sharī’ah scholars/advisors and researchers/academicians. The study found that lack of understanding and knowledge, inadequate control mechanism and reporting, ineffective functional structure, incompatibility of system to the execution of Islamic products, improper document execution and sequence, and inadequate internal policies and governing rules are the key determinants of SNEs in tawarruq-based financing in Islamic banks in Malaysia. International Islamic University Malaysia 2016 Article PeerReviewed application/pdf en http://irep.iium.edu.my/56410/1/56410_Determinants%20of%20shariah%20non-compliant%20events%20in%20Islamic%20banks%20in%20Malaysia.pdf application/pdf en http://irep.iium.edu.my/56410/2/56410_Determinants%20of%20shariah%20non-compliant%20events%20in%20Islamic%20banks%20in%20Malaysia_WoS.pdf application/pdf en http://irep.iium.edu.my/56410/13/56410_Determinants%20of%20shariah%20non-compliant_SCOPUS.pdf Ali, Mohammad Mahbubi and Hassan, Rusni (2016) Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based. Al-Shajarah, 21 (3 Special Issue). pp. 217-221. ISSN 1394-6870 http://journals.iium.edu.my/shajarah/index.php/shaj/article/view/419
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English English
topic	BP173.75 Islam and economics
spellingShingle	BP173.75 Islam and economics Ali, Mohammad Mahbubi Hassan, Rusni Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based
description	Tawarruq is a new phenomenon in the Islamic financial landscape. It has gained wide acceptance from the market due to its inherent characteristics that can offer similar features as the conventional structure. Nevertheless, tawarruq is exposed to a high degree of shari’ah non-compliant risk mainly because it involves a series of sale contracts in succession. The present study investigates the determinants of shari’ah non-compliant events (SNEs) in tawarruq-based financing as practiced by Islamic banks in Malaysia. The study adopts the Analytic Network Process (ANP) gathering different views of experts from practitioners, regulators, sharī’ah scholars/advisors and researchers/academicians. The study found that lack of understanding and knowledge, inadequate control mechanism and reporting, ineffective functional structure, incompatibility of system to the execution of Islamic products, improper document execution and sequence, and inadequate internal policies and governing rules are the key determinants of SNEs in tawarruq-based financing in Islamic banks in Malaysia.
format	Article
author	Ali, Mohammad Mahbubi Hassan, Rusni
author_facet	Ali, Mohammad Mahbubi Hassan, Rusni
author_sort	Ali, Mohammad Mahbubi
title	Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based
title_short	Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based
title_full	Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based
title_fullStr	Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based
title_full_unstemmed	Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based
title_sort	determinants of shariah non-compliant events in islamic banks in malaysia: with special reference to tawarruq-based
publisher	International Islamic University Malaysia
publishDate	2016
url	http://irep.iium.edu.my/56410/ http://irep.iium.edu.my/56410/ http://irep.iium.edu.my/56410/1/56410_Determinants%20of%20shariah%20non-compliant%20events%20in%20Islamic%20banks%20in%20Malaysia.pdf http://irep.iium.edu.my/56410/2/56410_Determinants%20of%20shariah%20non-compliant%20events%20in%20Islamic%20banks%20in%20Malaysia_WoS.pdf http://irep.iium.edu.my/56410/13/56410_Determinants%20of%20shariah%20non-compliant_SCOPUS.pdf
first_indexed	2023-09-18T21:19:34Z
last_indexed	2023-09-18T21:19:34Z
_version_	1777411790825586688

Determinants of shariah non-compliant events in Islamic banks in Malaysia: With special reference to tawarruq-based

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