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The Process of Shar ah Assurance in the Product Offering: Some Important Notes for Indonesian and Malaysian Islamic Banking Practice

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  • TRIYANTA, AGUS

    (Faculty of Law, Universitas Islam)

  • HASSAN, RUSNI

    (Ahmad Ibrahim Kulliyyah of Laws)

Abstract

Shar ah compliance is one of the important legal and fiduciary duties of Islamic banks. Its importance is growing in the wake of the challenging business environment and the increasing needs for innovative products and instruments faced by Islamic banks. The present paper seeks to analyze the process and procedures for Shar ah assurance in the product offering in Islamic banking sector in Indonesia and Malaysia. Starting with the theoretical overview of the Shar ah assurance, the regulatory framework designated to cater such processes and procedures are then mapped and evaluated. Having this at hand, practical implementations are discussed to draw any distinctive features in both jurisdictions. Lastly, suggestions are presented to be proportionally adopted for the purpose of achieving better process and procedures of Shar ah assurance in the product offering in Islamic banking sector in both, Indonesia and Malaysia.

Suggested Citation

  • Triyanta, Agus & Hassan, Rusni, 2011. "The Process of Shar ah Assurance in the Product Offering: Some Important Notes for Indonesian and Malaysian Islamic Banking Practice," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 18, pages 17-43.
    • Handle: RePEc:ris:isecst:0042
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    References listed on IDEAS

    as
    1. Grais, Wafik & Pellegrini, Matteo, 2006. "Corporate governance and Shariah compliance in institutions offering Islamic financial services," Policy Research Working Paper Series 4054, The World Bank.
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    Cited by:

    1. Nurulhuda Abd Rahman* & Nor’azam Mastuki & Nawal Kasim & Muhamad Rahimi Osman, 2018. "Risk Based Internal Shariah Audit Practices in the Islamic Bank," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 954-961:5.
    2. repec:arp:tjssrr:2019:p:87-94 is not listed on IDEAS

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