It is undeniable that Islamic financial institutions （IFIs） in Malaysia are growing with a positive impact on the national economic growth. In order to sustain and maintain Shariah compliance in Islamic fmancial ind...It is undeniable that Islamic financial institutions （IFIs） in Malaysia are growing with a positive impact on the national economic growth. In order to sustain and maintain Shariah compliance in Islamic fmancial industry, adequate Shariah audit practices are necessary to ensure that the operation of IFIs should be in parallel with Shariah guidelines and policies set by the authority. In order to equip Islamic industry practitioners with adequate Shariah audit practices, Faculty of Economics and Muamalat （FEM）, Universiti Sains Islam Malaysia （USIM） has introduced a professional Shariah Audit Training （SAT） program for IFIs staffs. SAT is a program that covers various aspects on Shariah audit practices starting from Shariah principles, Shariah governance, Shariah audit program, Shariah audit process, Shariah audit fieldwork, Shariah risk management and Shariah audit communications. Modules used in SAT have been developed based on collaboration between academic institutions and industry players in order to ensure that the knowledge and practice in the industry are harmonized and relevant. The series of trainings conducted in the program are believed to achieve the programme＇s ultimate objective which is to produce Shariah auditors who are qualified and trained to fill the gap for Islamic finance industry. The objective is to produce talents with adequate Shariah audit knowledge. This study provides the result of the SAT program toward IFIs practitioners＇ skills and knowledge on Shariah audit practices.展开更多
This study made a pioneering attempt to econometrically examine what factors determining impaired financing using shariah committee meetings frequency from data on Islamic banks in Malaysia and how does it affects on ...This study made a pioneering attempt to econometrically examine what factors determining impaired financing using shariah committee meetings frequency from data on Islamic banks in Malaysia and how does it affects on the quality of assets. The objective of the study is to improve assessment of their assets quality so as to increase the reliability of the financial statements. The European Central Bank may find the findings from this study useful in their exercise to assess risks and assets quality of their commercial banks, a move to tackle the ailing banks in centralizing oversight supervision in late 2014. The major components of the Islamic banks＇ assets quality are impaired financing and provisions for financing impairment. In the Islamic banks, shariah committee principally manages the shariah risks non-compliance with other risks; however because their management is not straightforward, the study uses the shariah committee meetings frequency as an indicator of the assets quality. The study found the less-than-full frequency of shariah committee meetings resulted in less guidance and conformation of shariah principles, and consequentially the quality of the assets.展开更多
文摘It is undeniable that Islamic financial institutions （IFIs） in Malaysia are growing with a positive impact on the national economic growth. In order to sustain and maintain Shariah compliance in Islamic fmancial industry, adequate Shariah audit practices are necessary to ensure that the operation of IFIs should be in parallel with Shariah guidelines and policies set by the authority. In order to equip Islamic industry practitioners with adequate Shariah audit practices, Faculty of Economics and Muamalat （FEM）, Universiti Sains Islam Malaysia （USIM） has introduced a professional Shariah Audit Training （SAT） program for IFIs staffs. SAT is a program that covers various aspects on Shariah audit practices starting from Shariah principles, Shariah governance, Shariah audit program, Shariah audit process, Shariah audit fieldwork, Shariah risk management and Shariah audit communications. Modules used in SAT have been developed based on collaboration between academic institutions and industry players in order to ensure that the knowledge and practice in the industry are harmonized and relevant. The series of trainings conducted in the program are believed to achieve the programme＇s ultimate objective which is to produce Shariah auditors who are qualified and trained to fill the gap for Islamic finance industry. The objective is to produce talents with adequate Shariah audit knowledge. This study provides the result of the SAT program toward IFIs practitioners＇ skills and knowledge on Shariah audit practices.
文摘This study made a pioneering attempt to econometrically examine what factors determining impaired financing using shariah committee meetings frequency from data on Islamic banks in Malaysia and how does it affects on the quality of assets. The objective of the study is to improve assessment of their assets quality so as to increase the reliability of the financial statements. The European Central Bank may find the findings from this study useful in their exercise to assess risks and assets quality of their commercial banks, a move to tackle the ailing banks in centralizing oversight supervision in late 2014. The major components of the Islamic banks＇ assets quality are impaired financing and provisions for financing impairment. In the Islamic banks, shariah committee principally manages the shariah risks non-compliance with other risks; however because their management is not straightforward, the study uses the shariah committee meetings frequency as an indicator of the assets quality. The study found the less-than-full frequency of shariah committee meetings resulted in less guidance and conformation of shariah principles, and consequentially the quality of the assets.
