Reference to Shari’ah Advisory Council in Islamic finance: Effect of Changes to the Stakeholders
Nurauliani Jamlus Rafdi, Surianom Miskam, Noor Aimi Mohamad Puad
Nurauliani Jamlus Rafdi
Available Online May 2015.
- https://doi.org/10.2991/iceb-15.2015.22How to use a DOI?
- Shariah Advisory Council, Islamic Finance, impact, stakeholders
- The passing of the Central Bank of Malaysia Act 2009 has granted the authority to the Central Bank of Malaysia for the establishment of the Shariah Advisory Council as the highest and sole authority for the purpose of Islamic financial business in Malaysia. The intention of the Parliament is to rectify the defunct provision of Section 16B of the Central Bank of Malaysia 1958 which deals with the binding effect of the Shariah rulings issued by the Shariah Advisory Council. The effect of the Central Bank of Malaysia Act 2009 is yet to be discussed especially on the impact of changes in the Act to the stakeholders. The objective of this research is to analyse the impact of changes on the stakeholders namely the Shariah Committee of Islamic banks and bankers from operation division in Islamic banks. Qualitative research methodology is employed in this research by way of strategic conversation and focus group discussion. This research will provide a critical analysis and expected to give a clear explanation on the impact of changes in the Central Bank of Malaysia Act 2009 towards the stakeholders
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Nurauliani Jamlus Rafdi AU - Surianom Miskam AU - Noor Aimi Mohamad Puad PY - 2015/05 DA - 2015/05 TI - Reference to Shari’ah Advisory Council in Islamic finance: Effect of Changes to the Stakeholders PB - Atlantis Press SP - 149 EP - 155 SN - 2352-5428 UR - https://doi.org/10.2991/iceb-15.2015.22 DO - https://doi.org/10.2991/iceb-15.2015.22 ID - Rafdi2015/05 ER -