Proceedings of the International Conference on Management, Business, and Technology (ICOMBEST 2021)

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Shariah Governance in Islamic Financial Institutions in Nigeria: An Empirical Study

Authors
Mohd Sadad Mahmud1, Ibraheem Alani AbdulKareem1, *, Muqaddam Oyetunji Ali1, Isti Fadah2, Ah Ali Arifin3
1Faculty of Business and Management, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
2Faculty of Economics and Business, University of Jember, Jember, Indonesia.
3Faculty of Islamic Economics and Business, UIN Sunan Ampel, Surabaya, Indonesia
*Corresponding author. Email: ibraheemalani1@yahoo.com
Corresponding Author
Ibraheem Alani AbdulKareem
Available Online 30 November 2021.
DOI
10.2991/aebmr.k.211117.024How to use a DOI?
Keywords
Islamic Financial Institutions; Nigeria; Non-Interest Banks; Shariah Governance
Abstract

This study examines the elements of Shariah governance in Islamic financial institutions in Nigeria. In this study, a quantitative research method is utilized to gather data via a survey approach using questionnaires. The data were acquired from members of ACE, SAs, academia, religious preachers, banks customers and banks auditor in Nigeria. The outcome of the study demonstrated that the Advisory Committee of Experts, and Board of Directors have a positive significant relationship with Shariah governance of the Islamic financial institutions. Furthermore, this study found Executive Management to have a negative significant relationship with Shariah governance. However, the outcome of the study demonstrated that the Shariah audit has a negative insignificant relationship with Shariah governance. This study shows that Shariah governance of Islamic financial institutions needs to work in coordination with the Board of Directors, Executive Management, and Advisory Council of Experts to achieve the obejective of Islamic finance and Shariah compliance in every product and service. Therefore, the result of the study may assist practitioners and users in recognising the elements that influence Shariah governance as the backbone of Islamic finance in Nigeria. Also, the study contributes to non-interest banks by confirming the elements of the Shariah governance that may impacts the development and growth of non-interest banks in the country.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the International Conference on Management, Business, and Technology (ICOMBEST 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
30 November 2021
ISBN
10.2991/aebmr.k.211117.024
ISSN
2352-5428
DOI
10.2991/aebmr.k.211117.024How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

risenwbib
TY  - CONF
AU  - Mohd Sadad Mahmud
AU  - Ibraheem Alani AbdulKareem
AU  - Muqaddam Oyetunji Ali
AU  - Isti Fadah
AU  - Ah Ali Arifin
PY  - 2021
DA  - 2021/11/30
TI  - Shariah Governance in Islamic Financial Institutions in Nigeria: An Empirical Study
BT  - Proceedings of the  International Conference on Management, Business, and Technology (ICOMBEST 2021)
PB  - Atlantis Press
SP  - 168
EP  - 179
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.211117.024
DO  - 10.2991/aebmr.k.211117.024
ID  - Mahmud2021
ER  -