Perceptions of shariah scholars on shariah audit in Malaysian takaful industry
Takaful is shariah compliant insurance scheme which become an important component in the Islamic financial system in Malaysia. Takaful industry in Malaysia is relatively young compared to other sectors in the financial industry, but it has enjoyed robust growth. However, despite the robust growth, T...
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International Research Centre of Islamic Economics and Finance (IRCIEF), International Islamic University College Selangor (KUIS)
2019
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| Online Access: | http://irep.iium.edu.my/75914/ http://irep.iium.edu.my/75914/ http://irep.iium.edu.my/75914/1/75914_Perceptions%20of%20shariah%20scholars.pdf |
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eprints |
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iium-759142019-11-06T12:36:20Z http://irep.iium.edu.my/75914/ Perceptions of shariah scholars on shariah audit in Malaysian takaful industry Mohamad Puad, Noor Aimi Abdullah, Nurdianawati Irwani Shafii, Zurina BP173.75 Islam and economics HB126.4 Islamic Economics HG8719 Islamic Insurance Takaful Takaful is shariah compliant insurance scheme which become an important component in the Islamic financial system in Malaysia. Takaful industry in Malaysia is relatively young compared to other sectors in the financial industry, but it has enjoyed robust growth. However, despite the robust growth, Takaful industry also continues to face several challenges such as ineffective governance practices. Ineffective governance practice will lead to the possibility of facing shariah risk and incident of shariah risk in their activities and operation. Shariah audit function is one of the component of governance that play a role in ensuring the takaful operator to have a sound and effective internal control system of shariah compliance. This study aim to examine the shariah scholars’ perception on current shariah audit process and scope particularly in Takaful industry. Semi-structured interviews was conducted with shariah scholars who are members of the Shariah boards in various Takaful Operators. The finding discovers that there are different points of view demonstrated by the Shariah scholars. This study may provide relevant guidelines for future development of shariah audit practices in Islamic financial institutions in achieving maqasid shariah. International Research Centre of Islamic Economics and Finance (IRCIEF), International Islamic University College Selangor (KUIS) 2019 Article PeerReviewed application/pdf en http://irep.iium.edu.my/75914/1/75914_Perceptions%20of%20shariah%20scholars.pdf Mohamad Puad, Noor Aimi and Abdullah, Nurdianawati Irwani and Shafii, Zurina (2019) Perceptions of shariah scholars on shariah audit in Malaysian takaful industry. International Journal of Islamic Economics and Finance Research, 2 (1). pp. 13-25. E-ISSN 2636 – 9419 https://ircief.org.my/ijiefer/wp-content/uploads/2019/07/IJIEFER-VOL.2-NO.1-ARTICLE-2.pdf |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
International Islamic University Malaysia |
| building |
IIUM Repository |
| collection |
Online Access |
| language |
English |
| topic |
BP173.75 Islam and economics HB126.4 Islamic Economics HG8719 Islamic Insurance Takaful |
| spellingShingle |
BP173.75 Islam and economics HB126.4 Islamic Economics HG8719 Islamic Insurance Takaful Mohamad Puad, Noor Aimi Abdullah, Nurdianawati Irwani Shafii, Zurina Perceptions of shariah scholars on shariah audit in Malaysian takaful industry |
| description |
Takaful is shariah compliant insurance scheme which become an important component in the Islamic financial system in Malaysia. Takaful industry in Malaysia is relatively young compared to other sectors in the financial industry, but it has enjoyed robust growth. However, despite the robust growth, Takaful industry also continues to face several challenges such as ineffective governance practices. Ineffective governance practice will lead to the possibility of facing shariah risk and incident of shariah risk in their activities and operation. Shariah audit function is one of the component of governance that play a role in ensuring the takaful operator to have a sound and effective internal control system of shariah compliance. This study aim to examine the shariah scholars’ perception on current shariah audit process and scope particularly in Takaful industry. Semi-structured interviews was conducted with shariah scholars who are members of the Shariah boards in various Takaful Operators. The finding discovers that there are different points of view demonstrated by the Shariah scholars. This study may provide relevant guidelines for future development of shariah audit practices in Islamic financial institutions in achieving maqasid shariah. |
| format |
Article |
| author |
Mohamad Puad, Noor Aimi Abdullah, Nurdianawati Irwani Shafii, Zurina |
| author_facet |
Mohamad Puad, Noor Aimi Abdullah, Nurdianawati Irwani Shafii, Zurina |
| author_sort |
Mohamad Puad, Noor Aimi |
| title |
Perceptions of shariah scholars on shariah audit in Malaysian takaful industry |
| title_short |
Perceptions of shariah scholars on shariah audit in Malaysian takaful industry |
| title_full |
Perceptions of shariah scholars on shariah audit in Malaysian takaful industry |
| title_fullStr |
Perceptions of shariah scholars on shariah audit in Malaysian takaful industry |
| title_full_unstemmed |
Perceptions of shariah scholars on shariah audit in Malaysian takaful industry |
| title_sort |
perceptions of shariah scholars on shariah audit in malaysian takaful industry |
| publisher |
International Research Centre of Islamic Economics and Finance (IRCIEF), International Islamic University College Selangor (KUIS) |
| publishDate |
2019 |
| url |
http://irep.iium.edu.my/75914/ http://irep.iium.edu.my/75914/ http://irep.iium.edu.my/75914/1/75914_Perceptions%20of%20shariah%20scholars.pdf |
| first_indexed |
2023-09-18T21:47:22Z |
| last_indexed |
2023-09-18T21:47:22Z |
| _version_ |
1777413539732914176 |