ISRA International Journal of Islamic Finance最新文献_第5页

Who is Homo Islamicus? A Qurʾānic perspective on the economic agent in Islamic economics 谁是伊斯兰人？《古兰经》对伊斯兰经济学中经济主体的透视

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-06-23 DOI: 10.1108/ijif-05-2021-0102

Hafas Furqani, Abdelghani Echchabi

{"title":"Who is Homo Islamicus? A Qurʾānic perspective on the economic agent in Islamic economics","authors":"Hafas Furqani, Abdelghani Echchabi","doi":"10.1108/ijif-05-2021-0102","DOIUrl":"https://doi.org/10.1108/ijif-05-2021-0102","url":null,"abstract":"PurposeThis paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.Design/methodology/approachThis is done by deriving the concept from the Qurʾān as the primary epistemological source in Islamic economics. The paper, thus, attempts to explore the message of the Qurʾān and internalize its concepts and values in their totality into the conception of the economic agent from an Islamic perspective.FindingsThe paper brings an insight regarding the nature of the economic agent in Islamic perspective. The concept of the economic agent that is developed from the Qurʾānic teachings will be useful in developing assumptions and theories in Islamic economics.Research limitations/implicationsThis paper explores the normative behavioral framework of man from the Qurʾānic perspective (i.e. what is expected of man) in order to serve as the basis on which assumptions, concepts and theories could be produced and applied in real life. Further studies could extend the discussion by examining the application of the concepts in practice.Practical implicationsThis paper promotes a normative behavioral framework that could be the basis in developing the body of knowledge of Islamic economics.Originality/valueThis paper promotes a concept of the economic agent in Islamic perspective, termed as Homo Islamicus, who is going to portray Islamic ethical teachings in economic actions. The paper brought insights from the Qurʾānic teachings and principles in developing the concept of Homo Islamicus who will be the representative agent in theorizing Islamic economics.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":"295 ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41315517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Editorial 编辑

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-05-20 DOI: 10.1108/ijif-06-2022-257

B. S. Sairally

引用次数: 0

Common conceptual flaws in realizing maqāṣid al-Sharīʿah vis-à-vis Islamic finance 实现maqā的常见概念缺陷ṣ伊斯兰金融

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-04-22 DOI: 10.1108/ijif-12-2020-0259

Ameen Ahmed Abdullah Qasem Al-Nahari, Abu Talib Mohammad Monawer, Luqman Haji Abdullah, A. Ali, Noor Naemah Abdul Rahman, M. Achour

{"title":"Common conceptual flaws in realizing maqāṣid al-Sharīʿah vis-à-vis Islamic finance","authors":"Ameen Ahmed Abdullah Qasem Al-Nahari, Abu Talib Mohammad Monawer, Luqman Haji Abdullah, A. Ali, Noor Naemah Abdul Rahman, M. Achour","doi":"10.1108/ijif-12-2020-0259","DOIUrl":"https://doi.org/10.1108/ijif-12-2020-0259","url":null,"abstract":"PurposeThis paper aims to scrutinize the misconceptions about maqāṣid al-Sharīʿah (objectives of Islamic law) that complicate its actualization, particularly in Islamic finance.Design/methodology/approachThis study adopts a qualitative inductive method to identify the flaws in understanding maqāṣid al-Sharīʿah vis-à-vis Islamic finance. It uses the views of classical and modern maqāṣid scholars to critically examine the flaws.FindingsThis study concludes that the five objectives of the Sharīʿah constitute the framework of maṣlaḥah (well-being). The levels of maṣlaḥah ― namely ḍarūriyyāt (essentials), ḥājiyyāt (needs) and taḥsīniyyāt (embellishments) ― are the categories of the means to ends. The demand for financial products falls under the ḥājiyyāt and taḥsīniyyāt categories, not ḍarūriyyāt. The maqāṣid (objectives) are derived from aḥkām (provisions) being verified by the parameters, while aḥkām are guided by maqāṣid.Research limitations/implicationsThis study recommends further research to theorize the concepts of ḍarūriyyāt, ḥājiyyāt, taḥsīniyyat and mukammilāt (complements); to harmonize the maqāṣid with their essential elements and to formulate a conceptual framework for actualizing maqāṣid al-Sharīʿah in Islamic finance.Practical implicationsThis paper will improve perceptions and bridge gaps between the understanding of maqāṣid theory and existing practices. It suggests that instead of ḍarūriyyāt, Islamic financial institutions (IFIs) should refer to ḥājiyyāt and taḥsīniyyāt.Originality/valueThis paper identifies and clarifies the misconceptions about maqāṣid al-Sharīʿah vis-à-vis Islamic finance in the existing literature. The findings align with the views of leading maqāṣid scholars in understanding the idea.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42535130","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7

Some thoughts on resetting the roles and functions of Sharīʿah committees of Islamic banks in Malaysia 关于重新设置马来西亚伊斯兰银行Sharīah委员会角色和职能的几点思考

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-02-14 DOI: 10.1108/ijif-05-2021-0096

M. Isa, S. Lee, O. Bacha, R. Ahmad

{"title":"Some thoughts on resetting the roles and functions of Sharīʿah committees of Islamic banks in Malaysia","authors":"M. Isa, S. Lee, O. Bacha, R. Ahmad","doi":"10.1108/ijif-05-2021-0096","DOIUrl":"https://doi.org/10.1108/ijif-05-2021-0096","url":null,"abstract":"Purpose The purpose of this study is to understand and evaluate the roles and functions of the Sharīʿah committee (SC) of Islamic banks (IBs) in Malaysia and to recommend a resetting of the scope of responsibilities to enable the SC to effectively respond to current market needs.Design/methodology/approach A Likert-type survey questionnaire was developed and distributed to all available SC members through e-mails and online surveys as well as self-administered questionnaires. At the end of the survey, 87 useable questionnaires were collected from 161 SC members, representing a 54% response rate.Findings This study finds that most SC members have the necessary Sharīʿah qualification, and they are mostly academics with doctoral degrees. However, there is a noticeable lack of diversity in the composition of experts in the committees. Respondents indicate that their main functions are to ensure Sharīʿah compliance of bank operations and product offerings. This is of course consistent with their stated functions as outlined in the Bank Negara Malaysia's Sharīʿah Governance Policy Document (BNM, 2019). The study finds that SCs are not involved in product development, nor responsible for financial performance. Respondents indicate three ways to enhance the role of SCs: improving banking knowledge of the members, more engagement with the board of directors (BoDs) and broadening the functions of SCs.Practical implications This study highlights two policy implications. First, there is a strategic need for IBs to consider having a diversity of expertise in the SCs while maintaining the Sharīʿah experts as core members. Second, this study recommends a reset of the scope of duties of the SC to include three new areas: risk management, product development and financial performance.Originality/value This study evaluates the current functions of the SC of IBs in Malaysia and provides suggestions for improvement in the composition of the committee and in the scope of duties of SCs based on contemporary needs.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46751513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Legislative provisions for waṣiyyah wājibah in Malaysia and Indonesia: to what extent do they differ in practice? wa的立法规定ṣ马来西亚和印度尼西亚的iyyah wājibah：它们在实践中有多大不同？

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-01-19 DOI: 10.1108/ijif-01-2021-0013

Suhaili Alma’amun, Mohd Khairy Kamarudin, Wan Nadiah Wan Mohd Nasir, Nasrul Hisyam Nor Muhamad, Riayati Ahmad

{"title":"Legislative provisions for waṣiyyah wājibah in Malaysia and Indonesia: to what extent do they differ in practice?","authors":"Suhaili Alma’amun, Mohd Khairy Kamarudin, Wan Nadiah Wan Mohd Nasir, Nasrul Hisyam Nor Muhamad, Riayati Ahmad","doi":"10.1108/ijif-01-2021-0013","DOIUrl":"https://doi.org/10.1108/ijif-01-2021-0013","url":null,"abstract":"PurposeThis research aims to examine and compare differences in waṣiyyah wājibah (obligatory bequest) (WW) practices in Malaysia and Indonesia.Design/methodology/approachThis is an exploratory qualitative research, employing a thematic analysis approach. Six Muslim Wills (State) Enactments [Enakmen Wasiat Orang Islam (Negeri)] in Malaysia, Islamic Law Compilation (Kompilasi Hukum Islam) in Indonesia, two fatwas (ruling in religious matters) and one court case from each country are analysed. Data is collected from official government websites and other reliable search engines.FindingsFirst, the findings show that the WW practice in both countries is similar regarding the quantum of the beneficiaries' entitlement. However, the practice varies between both countries in terms of the types of beneficiaries and how the bequest is distributed. Second, this study shows the potential of WW as an estate planning instrument to complement the existing instruments in each country, especially when addressing family members who are not entitled to succeed by farāʾiḍ (Islamic inheritance law).Practical implicationsThe provision of relevant laws and regulations regarding WW needs to be formulated to guarantee the well-being of dependants. The differences in practice between the two countries can be a guideline to expand the WW scope and context to other Muslim countries.Originality/valueThis study is the first attempt to compare WW between two Muslim-majority countries focusing on relevant laws, court cases and regulations.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47449051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Assessing the effect of organisational commitment on turnover intentions amongst Islamic bank employees 评估组织承诺对伊斯兰银行员工离职意向的影响

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-01-07 DOI: 10.1108/ijif-01-2021-0008

Carole Serhan, Nehmeh Nehmeh, Ibrahim Sioufi

{"title":"Assessing the effect of organisational commitment on turnover intentions amongst Islamic bank employees","authors":"Carole Serhan, Nehmeh Nehmeh, Ibrahim Sioufi","doi":"10.1108/ijif-01-2021-0008","DOIUrl":"https://doi.org/10.1108/ijif-01-2021-0008","url":null,"abstract":"PurposeThe research aims to test the links amongst Meyer and Allen's three levels of organisational commitment and the commitment's effect on reducing turnover intentions for Islamic bank (IB) employees during the lockdown caused by coronavirus disease (COVID-19).Design/methodology/approachThe research follows a variable-centred approach. Primary data are collected through a survey of 324 respondents comprising IB employees from three Arab countries, notably the United Arab Emirates (UAE), Lebanon and Oman. Exploratory factor analysis (EFA) and Cronbach's alpha test are conducted to test the construct validity, reliability and internal consistency of collected data. Descriptive statistics are used to interpret the data. Zero-order correlations, multiple regression analysis and Fisher's Z-test are applied to assess the interrelations of the various groups of variables and the determinants of turnover intentions.FindingsResults show that there is a high level of significant intercorrelation amongst affective, normative and continuance commitments as well as amongst organisational commitment, individual differences and turnover intentions for IB employees from the three studied Arab countries. The results confirmed that turnover intentions are minimised in the presence of all three organisational commitment subscales and that individual differences amongst IB employees and organisational efficiency moderate the relationship between organisational commitment and turnover intentions.Originality/valueThere is no empirical work that has been done on the determinants of turnover intentions amongst IB employees during the lockdown. This is valuable to organisational behaviour scholars and practitioners who are interested in the role that organisational commitment plays in IB's employment behaviour.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43148557","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

Proposing an organizational framework for the Sharīʿah Secretariat of Islamic banks in Bangladesh 为孟加拉国伊斯兰银行Sharīah秘书处提出组织框架

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2022-01-04 DOI: 10.1108/ijif-03-2021-0046

Md. Kausar Alam, Abu Umar Faruq Ahmad, Aishath Muneeza, M. Tabash, Md Adnan Rahman

{"title":"Proposing an organizational framework for the Sharīʿah Secretariat of Islamic banks in Bangladesh","authors":"Md. Kausar Alam, Abu Umar Faruq Ahmad, Aishath Muneeza, M. Tabash, Md Adnan Rahman","doi":"10.1108/ijif-03-2021-0046","DOIUrl":"https://doi.org/10.1108/ijif-03-2021-0046","url":null,"abstract":"PurposeSharīʿah Secretariat plays a significant role in assisting Sharīʿah Supervisory Boards (SSBs) in their role in achieving Sharīʿah compliance in Islamic banks (IBs). The key objective of the study is to develop a demographic framework of the Sharīʿah Secretariat for the IBs in Bangladesh.Design/methodology/approachThe study applied qualitative case study research. The data have been collected from 17 respondents through semi-structured interviews from IBs and professional experts in Bangladesh.FindingsThis study proposes a full-time Sharīʿah Secretariat and several departments for further enhancement of the Sharīʿah functions in IBs in Bangladesh. The framework proposed in this study covers the formation, functions, composition, qualification, reporting line, independence, remuneration and terms of appointment of the Sharīʿah Secretariat to set a uniform benchmark for all IBs in Bangladesh. It is anticipated that the outcomes of this research will assist to further strengthen the Sharīʿah governance of IBs in Bangladesh.Research limitations/implicationsThis research contributed to the national and global regulatory authorities and IBs by proposing a Sharīʿah Secretariat framework for the smooth functioning of the IBs in Bangladesh. The framework proposed in this study covers the formation, functions, composition, qualification, reporting line, independence, remuneration and terms of appointment of Sharīʿah Secretariat.Originality/valueThis study proposed a framework which is considered the first organizational framework so far for the Sharīʿah Secretariat of IBs in Bangladesh. IBs can apply this proposed framework to form their Sharīʿah Secretariat structure.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43693346","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Performance comparison between Islamic and conventional stocks: evidence from Pakistan's equity market 伊斯兰股票和传统股票的业绩比较：来自巴基斯坦股市的证据

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2021-12-07 DOI: 10.1108/ijif-07-2020-0150

M. Jabeen, S. Kausar

{"title":"Performance comparison between Islamic and conventional stocks: evidence from Pakistan's equity market","authors":"M. Jabeen, S. Kausar","doi":"10.1108/ijif-07-2020-0150","DOIUrl":"https://doi.org/10.1108/ijif-07-2020-0150","url":null,"abstract":"PurposeThis paper aims to examine the performance of Islamic and conventional stocks listed at the Pakistan Stock Exchange by using both parametric and non-parametric approaches. The motivation is to do risk-return analysis of Islamic stock prices and conventional stock prices.Design/methodology/approachIt uses various measures of performance, e.g. Sharpe ratio, Treynor ratio, Jensen's alpha, beta, generalized auto-regressive conditional heteroskedasticity and stochastic dominance. Using the Karachi Meezan Index-30 (KMI-30) and the Karachi Stock Exchange Index-30 (KSE-30) as proxies for Islamic and conventional stock prices, respectively, it examines the performance of Islamic and conventional stocks. The daily data of KMI-30 and KSE-30, covering period from June 9, 2009 to June 20, 2020 are used.FindingsThe results show that the overall KMI-30 outperforms the KSE-30. The returns of the KMI-30 are greater than the KSE-30. However, the risk and volatility of the KMI-30 and KSE-30 are similar. Further, the KMI-30 has higher excess returns per unit of total risk than the KSE-30. But both indexes have similar excess returns per unit of systematic risk. Moreover, the KMI-30 returns have stochastically dominance over the KSE-30 returns. These results reveal that the Islamic index performs better than the conventional index.Practical implicationsThe findings provide several practical implications in financial and investment decisions making by investors, managers and policymakers such as strategies for asset allocation and investment. Further, in risk management, it provides guidance for allocating portfolios and managing risk. The investment in Islamic stocks may mitigate potential risk within asset portfolios.Originality/valueThis research is unique in its approach to the analysis of the performance comparison of conventional and Islamic stock by using comprehensive parametric and non-parametric estimation techniques. Such research has not been undertaken in the Pakistan's equity market since.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2021-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43615580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

Objectives and measures of performance of Islamic microfinance banks in Indonesia: the stakeholders' perspectives 印度尼西亚伊斯兰小额信贷银行的目标和绩效衡量:利益相关者的观点

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2021-11-16 DOI: 10.1108/ijif-11-2020-0231

Taufik Akbar, A. Siti-Nabiha

{"title":"Objectives and measures of performance of Islamic microfinance banks in Indonesia: the stakeholders' perspectives","authors":"Taufik Akbar, A. Siti-Nabiha","doi":"10.1108/ijif-11-2020-0231","DOIUrl":"https://doi.org/10.1108/ijif-11-2020-0231","url":null,"abstract":"PurposeThis study investigates both internal and external stakeholders' views on the objectives and measures of performance of Indonesian Islamic microfinance banks (IMFBs).Design/methodology/approachThis study uses a qualitative approach. In-depth interviews were conducted with a wide range of internal and external stakeholders of IMFBs in Indonesia. The primary stakeholders interviewed comprised the board of directors of IMFBs located in several provinces in Indonesia, including rural and urban areas. The external stakeholders were the regulators/supervisors, represented by the Indonesian Financial Services Authority and Sharīʿah advisors of the National Sharīʿah Board as well as Muslim scholars. The data were analysed using CAQDAS, a computer-assisted tool for qualitative analysis.FindingsThe objectives of the IMFBs are seen to represent more than profits or economic well-being. Their objectives also comprise spirituality and daʿwah (Islamic propagation). Daʿwah is conducted through the provision of funding and services that are aligned with Sharīʿah (Islamic law), the dissemination of information about Islamic financing, which is based on Islamic values and principles, and the payment of zakat (Islamic alms) and charitable contributions. The measures of performance are considered to be more holistic than those of conventional banks. Profit and growth are deemed important as the means to achieve social well-being objectives.Research limitations/implicationsBetter insights into the objectives and measures of IMFBs could be achieved from interviews with other stakeholder categories, such as customers and the community. This could be the focus of future research.Originality/valueThis study added a new discussion to the limited empirical literature on IMFBs by investigating the views of stakeholders on the objectives and performance of IMFBs in Indonesia.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2021-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41968541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

Sharīʿah governance and agency dynamics of Islamic banking operations in the Kingdom of Saudi Arabia 沙乌地阿拉伯王国伊斯兰银行业务的沙迦治理和机构动态

IF 2.3

ISRA International Journal of Islamic Finance Pub Date : 2021-11-16 DOI: 10.1108/ijif-12-2020-0252

Abul Hassan, M. S. Sohail, Mahfuzur Rahman Munshi

{"title":"Sharīʿah governance and agency dynamics of Islamic banking operations in the Kingdom of Saudi Arabia","authors":"Abul Hassan, M. S. Sohail, Mahfuzur Rahman Munshi","doi":"10.1108/ijif-12-2020-0252","DOIUrl":"https://doi.org/10.1108/ijif-12-2020-0252","url":null,"abstract":"PurposeThis study aims to investigate and point out the variations of agency theory in the context of Sharīʿah governance in Islamic banking operations in the Kingdom of Saudi Arabia (KSA).Design/methodology/approachThe study followed the approach of quantitative Corporate Governance Index (CGI) by computing the Gov-index (Gompers et al., 2003) and the Gov-score (Brown and Caylor, 2004; Saffieddine, 2009) to examine corporate governance (CG) issues using primary as well as secondary data. The primary data was generated from three full-fledged Islamic banks (IBs) and nine traditional banks with Islamic banking wings, all operating in the KSA. The approach was to provide an insight into the agency structure in the context of Islamic banking, which may lead to a trade-off between the conformity of Sharīʿah (Islamic law) rules and processes followed in safeguarding the rights of investors.FindingsThe majority of the Islamic banking services that are surveyed in this study acknowledge the significance of Sharīʿah governance and have implemented the fundamental methods, in conformity with this system. Certain flaws in Sharīʿah governance principles pertaining to audit, control and transparency are reported.Practical implicationsThe research outcomes will be invaluable to IBs aiming to improve existing SG practices. It also has implications for IB managers to design strategies while complying with regulations and to protect the interests of all investors without breaching the ethics of Sharīʿah.Originality/valueThis paper adds original value to the body of knowledge on agency relationship by analysing the dynamics of agency theory in the unique and complex context of Sharīʿah governance of IBs or those offering Islamic products in the KSA. The results can be used as a valuable feedback for improvement of Sharīʿah governance in the banking system in the KSA and the Gulf region at large.","PeriodicalId":54072,"journal":{"name":"ISRA International Journal of Islamic Finance","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2021-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43973977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6