Shar¯ı‘ah Resolution and Islamic Finance: A Review

Authors

  • Zakir Hossen Shaikh Bahrain Training Institute, Ministry of Education ,Bahrain
  • Adel M. Sarea, Sarea College of Business and Finance Ahlia University, Manama, Kingdom of Bahrain
  • Abdelrahman Al-Saadi College of Business Administration, University of Bahrain
  • Iqbal Thonse Hawaldar College of Business Administration, Kingdom University, Bahrain

Keywords:

Shariah Resolutions, Disclosure, Islamic banking *Shariah- Islamic law

Abstract

Abstract

The aim of this study is to review and proposal framework of Shariah Resolutions in Islamic Finance. The qualitative method was used through a comprehensive review of previous studies on the need of Shariah Resolutions framework to be applied worldwide though all IFIs. The Framework has been developed which focuses on Shariah Resolutions to rate the level of an IFI’s adherence with Shariah Resolutions and as recommended by AAOIFI Shariah standards. The implication of this paper could help Islamic financial institutions, including Islamic banking in the future to disclose Shariah resolutions for each products and services information to all interested parties. The Originality of this paper, it provides foundation for future researchers in the field. However, measuring the level of fatwa governance through Shariah Resolutions in Islamic Banking it makes a contribution to the existing literature as well as fills the gap.

 

Keywords: Shariah Resolutions, Disclosure, Islamic banking

*Shariah- Islamic law

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Published

2021-06-30

Issue

Vol. 11 No. 1 (2021): Volume 11, Issue 1, June 2021

Section

Research Articles