Application of human governance by Syariah Committee in determining the Islamicity of banking products

The growth of Islamic banking industry in Malaysia is evidenced with the rapid increase in the total assets of the Islamic banking sector that grew to RM434.6 billion. However, there have been strong views questioning the spirit of Islamic banking and finance, driving this study to uncover the ess...

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Main Author:	Yusoh, Melissa Johannie
Format:	Thesis
Language:	English
Published:	2013
Subjects:	Finance - Religious aspects - Islam Economics - Religious aspects - Islam Corporate governance - Malaysia
Online Access:	http://psasir.upm.edu.my/id/eprint/41959/1/GSM%202013%209R.pdf
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id	my-upm-ir.41959
record_format	uketd_dc
spelling	my-upm-ir.419592016-02-03T09:37:32Z Application of human governance by Syariah Committee in determining the Islamicity of banking products 2013-05 Yusoh, Melissa Johannie The growth of Islamic banking industry in Malaysia is evidenced with the rapid increase in the total assets of the Islamic banking sector that grew to RM434.6 billion. However, there have been strong views questioning the spirit of Islamic banking and finance, driving this study to uncover the essence of the decision making in determining the Islamicity of products embraced by the Syariah Committees. Since this study is new in nature, it adopts an interpretive approach of in-depth interviews. Based on the responce from eleven (11) Syariah Committee members, it is found that the Syariah Committee members use the guidelines as prescribed by the Bank Negara Malaysia as the sole criteria for determining the Islamicity of banking products. The study also found that riba does exist in Islamic instruments. The study also reveals that the Islamic instruments are, in essence modified from conventional banking practices. It is based on contractum trinius and do not fully attained the Maqasid. Therefore, this study concludes that there was little room for individuals to move beyond corporate governance in determining the Islamicity of banking products, thus human governance is not yet practiced by the Syariah Committee members. Finance - Religious aspects - Islam Economics - Religious aspects - Islam Corporate governance - Malaysia 2013-05 Thesis http://psasir.upm.edu.my/id/eprint/41959/ http://psasir.upm.edu.my/id/eprint/41959/1/GSM%202013%209R.pdf application/pdf en public masters Universiti Putra Malaysia Finance - Religious aspects - Islam Economics - Religious aspects - Islam Corporate governance - Malaysia
institution	Universiti Putra Malaysia
collection	PSAS Institutional Repository
language	English
topic	Finance - Religious aspects - Islam Economics - Religious aspects - Islam Corporate governance - Malaysia
spellingShingle	Finance - Religious aspects - Islam Economics - Religious aspects - Islam Corporate governance - Malaysia Yusoh, Melissa Johannie Application of human governance by Syariah Committee in determining the Islamicity of banking products
description	The growth of Islamic banking industry in Malaysia is evidenced with the rapid increase in the total assets of the Islamic banking sector that grew to RM434.6 billion. However, there have been strong views questioning the spirit of Islamic banking and finance, driving this study to uncover the essence of the decision making in determining the Islamicity of products embraced by the Syariah Committees. Since this study is new in nature, it adopts an interpretive approach of in-depth interviews. Based on the responce from eleven (11) Syariah Committee members, it is found that the Syariah Committee members use the guidelines as prescribed by the Bank Negara Malaysia as the sole criteria for determining the Islamicity of banking products. The study also found that riba does exist in Islamic instruments. The study also reveals that the Islamic instruments are, in essence modified from conventional banking practices. It is based on contractum trinius and do not fully attained the Maqasid. Therefore, this study concludes that there was little room for individuals to move beyond corporate governance in determining the Islamicity of banking products, thus human governance is not yet practiced by the Syariah Committee members.
format	Thesis
qualification_level	Master's degree
author	Yusoh, Melissa Johannie
author_facet	Yusoh, Melissa Johannie
author_sort	Yusoh, Melissa Johannie
title	Application of human governance by Syariah Committee in determining the Islamicity of banking products
title_short	Application of human governance by Syariah Committee in determining the Islamicity of banking products
title_full	Application of human governance by Syariah Committee in determining the Islamicity of banking products
title_fullStr	Application of human governance by Syariah Committee in determining the Islamicity of banking products
title_full_unstemmed	Application of human governance by Syariah Committee in determining the Islamicity of banking products
title_sort	application of human governance by syariah committee in determining the islamicity of banking products
granting_institution	Universiti Putra Malaysia
publishDate	2013
url	http://psasir.upm.edu.my/id/eprint/41959/1/GSM%202013%209R.pdf
_version_	1747811895444766720

Application of human governance by Syariah Committee in determining the Islamicity of banking products

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