Shari’ah governance for Islamic capital market: a step forward

Since the last few decades, Islamic finance industry has developed tremendously penetrating not only the Muslim countries but surprisingly the non-Muslim countries as well. It has been acknowledged by the scholars on the need for this development to cater for the Islamic banking, Takaful and Isla...

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Main Authors:	Kasim, Nawal, Htay, Sheila Nu Nu, Salman, Syed Ahmed
Format:	Article
Language:	English
Published:	Contemporary Research Center Australia 2013
Subjects:	HG1501 Banking
Online Access:	http://irep.iium.edu.my/30953/ http://irep.iium.edu.my/30953/1/sgf.pdf

id	iium-30953
recordtype	eprints
spelling	iium-309532017-06-20T04:07:58Z http://irep.iium.edu.my/30953/ Shari’ah governance for Islamic capital market: a step forward Kasim, Nawal Htay, Sheila Nu Nu Salman, Syed Ahmed HG1501 Banking Since the last few decades, Islamic finance industry has developed tremendously penetrating not only the Muslim countries but surprisingly the non-Muslim countries as well. It has been acknowledged by the scholars on the need for this development to cater for the Islamic banking, Takaful and Islamic capital market industries. These three main industries are interrelated and dependent on each other in order to ensure that the whole Islamic financial system is in compliance with the Islamic principles. Among these three streams of the service industry, the Islamic capital market plays a crucial role to support the other two. Since Islamic banks and Takaful operators have to invest to provide the benefits to the investors and policy holders which are compatible with the conventional counterparts, the Islamic capital market is assumed to be the backbone for the two to survive and grow in the Islamic finance industry. Country such as Malaysia has issued the Shari’ah Governance Framework (SGF) specifically for Islamic banking sector in its most recent development. Since the framework does not cover Islamic capital market, it is the objective of this paper to investigate on the need for a similar requirement to have a comprehensive Shari’ah governance framework for Islamic capital market. Contemporary Research Center Australia 2013-06 Article PeerReviewed application/pdf en http://irep.iium.edu.my/30953/1/sgf.pdf Kasim, Nawal and Htay, Sheila Nu Nu and Salman, Syed Ahmed (2013) Shari’ah governance for Islamic capital market: a step forward. International Journal of Education and Research, 1 (6). pp. 1-14. ISSN 2201-6333 E-ISSN 2201-6740
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG1501 Banking
spellingShingle	HG1501 Banking Kasim, Nawal Htay, Sheila Nu Nu Salman, Syed Ahmed Shari’ah governance for Islamic capital market: a step forward
description	Since the last few decades, Islamic finance industry has developed tremendously penetrating not only the Muslim countries but surprisingly the non-Muslim countries as well. It has been acknowledged by the scholars on the need for this development to cater for the Islamic banking, Takaful and Islamic capital market industries. These three main industries are interrelated and dependent on each other in order to ensure that the whole Islamic financial system is in compliance with the Islamic principles. Among these three streams of the service industry, the Islamic capital market plays a crucial role to support the other two. Since Islamic banks and Takaful operators have to invest to provide the benefits to the investors and policy holders which are compatible with the conventional counterparts, the Islamic capital market is assumed to be the backbone for the two to survive and grow in the Islamic finance industry. Country such as Malaysia has issued the Shari’ah Governance Framework (SGF) specifically for Islamic banking sector in its most recent development. Since the framework does not cover Islamic capital market, it is the objective of this paper to investigate on the need for a similar requirement to have a comprehensive Shari’ah governance framework for Islamic capital market.
format	Article
author	Kasim, Nawal Htay, Sheila Nu Nu Salman, Syed Ahmed
author_facet	Kasim, Nawal Htay, Sheila Nu Nu Salman, Syed Ahmed
author_sort	Kasim, Nawal
title	Shari’ah governance for Islamic capital market: a step forward
title_short	Shari’ah governance for Islamic capital market: a step forward
title_full	Shari’ah governance for Islamic capital market: a step forward
title_fullStr	Shari’ah governance for Islamic capital market: a step forward
title_full_unstemmed	Shari’ah governance for Islamic capital market: a step forward
title_sort	shari’ah governance for islamic capital market: a step forward
publisher	Contemporary Research Center Australia
publishDate	2013
url	http://irep.iium.edu.my/30953/ http://irep.iium.edu.my/30953/1/sgf.pdf
first_indexed	2023-09-18T20:45:11Z
last_indexed	2023-09-18T20:45:11Z
_version_	1777409627731787776

Shari’ah governance for Islamic capital market: a step forward

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