Shariah Governance in Islamic Financial Institutions in Nigeria: An Empirical Study
- 10.2991/aebmr.k.211117.024How to use a DOI?
- Islamic Financial Institutions; Nigeria; Non-Interest Banks; Shariah Governance
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.
- © 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
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 -