Are Current Shariah Governance Systems Efficient?

  • Authors

    • Mazhar Hallak Kantakji
    • Najeeb Zada
    • Omar Alaeddin
    • Zalina Zainudin
    2018-11-26
    https://doi.org/10.14419/ijet.v7i4.29.21708
  • Shariah Governance, Islamic Finance, Shariah Committee

  • Abstract

    This paper aims to examine the sufficiency of current Shariah governance systems with regards to both regulation and supervision. As compared to other factors, the importance of Shariah committee is a major part of the Shariah governance system and it requires a thorough assessment of its structure. The study finds that the main issues of the existing systems of Shariah governance are the absence of standardization and harmonization; lack of proper Shariah audit; the structure of the existing systems which rely solely on manpower; and the fact that a small number of Shariah scholars are controlling a vast number of Shariah committees.

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  • How to Cite

    Kantakji, M. H., Zada, N., Alaeddin, O., & Zainudin, Z. (2018). Are Current Shariah Governance Systems Efficient?. International Journal of Engineering & Technology, 7(4.29), 154-156. https://doi.org/10.14419/ijet.v7i4.29.21708

    Received date: 2018-11-26

    Accepted date: 2018-11-26

    Published date: 2018-11-26