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
  • 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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    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