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Islamic Banking and Financial CrisisReputation, Stability and Risks$
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Habib Ahmed, Mehmet Asutay, and Rodney Wilson

Print publication date: 2013

Print ISBN-13: 9780748647613

Published to Edinburgh Scholarship Online: May 2014

DOI: 10.3366/edinburgh/9780748647613.001.0001

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PRINTED FROM EDINBURGH SCHOLARSHIP ONLINE (www.edinburgh.universitypressscholarship.com). (c) Copyright Edinburgh University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in ESO for personal use.date: 29 March 2020

Enhancing Governance, Accountability and Transparency in Islamic Financial Institutions: An Examination into Sharīcah Internal Control Audit

Enhancing Governance, Accountability and Transparency in Islamic Financial Institutions: An Examination into Sharīcah Internal Control Audit

Chapter:
(p.149) 9 Enhancing Governance, Accountability and Transparency in Islamic Financial Institutions: An Examination into Sharīcah Internal Control Audit
Source:
Islamic Banking and Financial Crisis
Author(s):

Zurina Shafii

Supiah Salleh

Publisher:
Edinburgh University Press
DOI:10.3366/edinburgh/9780748647613.003.0009

This chapter explores corporate governance, accountability and transparency in Islamic financial institutions (IFIs), with emphasis on internal Sharī’ah audit practices in Bank Islam Malaysia Berhad and Bahrain Islamic Bank. It first considers risk management in IFIs before proceeding with a discussion of operational risk and comparing an external Sharī’ah audit with a Sharī’ah compliance audit. It demonstrates the use of the Sharī’ah internal control list/questionnaire in Bank Islam Malaysia and Bahrain Islamic Bank to show that it can be adopted by the external Sharī’ah auditors to audit the IFIs.

Keywords:   corporate governance, accountability, transparency, Islamic financial institutions, Sharī’ah, audit, Bank Islam Malaysia Berhad, Bahrain Islamic Bank, risk management, operational risk

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