Enhancing the Competence and Effectiveness of Shar¯ı‘ah Advisory Boards: Case of Islamic Banking Institutions in Pakistan

Autor: Khurram Khan , Abdul Rashid, Muhammad Asghar Shahzad, Habib ur Rehman, Muhammad Ayub
Rok vydání: 2019
Předmět:
Zdroj: Journal of Islamic Business and Management (JIBM).
ISSN: 2521-2249
DOI: 10.26501/jibm/2019.0901-004
Popis: The objective of this paper is to make an assessment of the competence of the members of Shar¯ı‘ah Boards of the Islamic Banking Institutions (IBIs) in terms of enabling and ensuring Shar¯ı‘ah compliance of banks business. The competency of Shar¯ı‘ah board members is considered as a critical issue in the State Banks Shar¯ı‘ah Governance Framework (SGF), which considers degree from any Waf ¯aq al-Mad¯aris as the basic qualification for their appointment. The paper investigates into the curricula of mad¯aris (religious schools) in Pakistan and orientation of the mad¯aris graduates for understanding increasingly innovative banking and finance operations. It also analyzes the syllabubs of the specialization/takhas. s.us. f¯ı al-fiqh/takhas. s.us. f¯ı al-ift¯a in the mad¯aris. Some pragmatic recommendations have been made to enhance the expertise of the Shar¯ı‘ah board members in the light of SBPs Fit & Proper criteria. This is a pioneer study discussing the scheme of studies in Pakistani mad¯aris and provides a basis for further research on this area.
Databáze: OpenAIRE