The roles of the Shariah committee in the implementation of value-based intermediation
As part of the eff ort to stimulate new growth in Malaysia’s Islamic fi nance industry, Bank Negara Malaysia issued the Strategy Paper on Value-Based Intermediation (VBI) which provides strategies to strengthen the roles and impact of Islamic banking institutions toward providing positive and sust...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
REDmoney Group
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/69326/ http://irep.iium.edu.my/69326/ http://irep.iium.edu.my/69326/1/IFN%20News-The%20Role%20of%20SC%20in%20VBI.pdf |
| Summary: | As part of the eff ort to stimulate new growth in Malaysia’s Islamic fi nance industry, Bank Negara Malaysia
issued the Strategy Paper on Value-Based Intermediation (VBI) which provides strategies to strengthen the roles
and impact of Islamic banking institutions toward providing positive and sustainable values to the economy,
community and environment.
Islamic banking institutions are
expected to take proactive action in
adopting the VBI initiatives in their
operation and business activities.
The Shariah committ ee plays a vital
role in ensuring that the directions
taken by Islamic banking institutions
in adopting the VBI initiatives are
consistent with Shariah principles. The
implementation of VBI will be a good
platform for the Shariah committ ee to
play its role in leading Islamic banking
institutions toward achieving the
objectives of Shariah in Islamic fi nance. |
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