Shari`ah Compliance in Islamic BankingaWhy and How?

Shari`ah Compliance in Islamic BankingaWhy and How?

Md Hafij Ullah

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Ruma Khanam

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α Islami Bank Bangladesh Limited, Murad Pur, Chittagong, Bangladesh

Shari`ah Compliance in Islamic BankingaWhy and How?

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Abstract

Shari`ah compliance is regarded as the foundation of the Islamic banking. Though Islamic banks give priority on Shari`ah compliance, a number of factors hinder Shari`ah compliance. Shari`ah knowledge, efforts and seriousness of the bank authorities and bank employees are the pre-requisites for complying Shari`ah appropriately. But it is observed that there are lack of Shari`ah knowledge, efforts and seriousness among bank authorities and bank employees. The present study demonstrates the importance of Shari`ah compliance in general and particularly in Islamic banking to make them aware and serious in complying Shari`ah. The reasons for Shari`ah compliance are divided into six, such as: Shari`ah compliance for better life in the earth, Shari`ah compliance for saving life, property and honor, Shari`ah compliance for better life after death, Shari`ah compliance for salvation from punishment in the earth, Shari`ah compliance for salvation from punishment after death and Needs for Shari`ah compliance in Islamic banking. The paper also direct the way how Shari`ah compliance is being carried out at the organizational level.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

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How to Cite This Article

Md Hafij Ullah. 2015. \u201cShari`ah Compliance in Islamic BankingaWhy and How?\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 14 (GJMBR Volume 14 Issue C6): .

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GJMBR Volume 14 Issue C6
Pg. 95- 102

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

and sunnah compliance Islamic Banking qur’an shari`ah

Submission ReceivedDecember 6, 2013
Peer Review Double Blind
Handling Editor
Accepted January 1, 2014
Published January 15, 2014

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Issue date

January 17, 2015

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Article Matrices

Total Score: 102

Country: Bangladesh

Subject: Global Journal of Management and Business Research - C: Finance

Authors: Ruma Khanam, Md Hafij Ullah (PhD/Dr. count: 0)

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Publish Date: 2015 01, Sat

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