IDEAS home Printed from https://ideas.repec.org/a/iap/ijarmb/v1y2016i1p75-87.html
   My bibliography  Save this article

Legitimate Oversight In Islamic Banks

Author

Listed:
  • Naima Ismail. H.Aldaikey

    (Institute of Malaysian and International Studies Ikmas, National University of Malaysia, UKM.)

  • Abdul Rahim Ahmad

    (Centre of General Studies, National University of Malaysia)

  • Mohamad Sabri bin Haron

    (Centre of General Studies, National University of Malaysia)

Abstract

Islamic banks and Islamic financial institutes was established to develop the Islamic economic, where one of its main tools from the financial and monetary perspective, but under a provisional system to ensure the legitimacy and correct path as well as the right goals and tools. According to that, a Legitimate (Sharia) Council do these active functions to achieve the obligation of bank and the establishment in the provisions and legal principles. The legitimate Oversight Council protects the banking functions through its system which includes Sharia rules that regulate the various banking activities with accordance of Islamic law and prohibiting banking activities which found opposing the provision of Sharia and Islamic law. It is recommended that to ensure full compliance with the provision of Islamic law and Sharia in financial activities, the Legitimate Oversight Council should exist in any Islamic bank to ensure the compliance of Islamic banking products and activities, and provide full integrity of financial transactions in terms of their Islamic character.

Suggested Citation

  • Naima Ismail. H.Aldaikey & Abdul Rahim Ahmad & Mohamad Sabri bin Haron, 2016. "Legitimate Oversight In Islamic Banks," International Journal of Academic Research in Management and Business, International Journal of Academic Research in Management and Business, vol. 1(1), pages 75-87, August.
    • Handle: RePEc:iap:ijarmb:v:1:y:2016:i:1:p:75-87
    as

    Download full text from publisher

    File URL: http://journals.editions-academiques.com/index.php/IJARMB/article/download/16/17
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iap:ijarmb:v:1:y:2016:i:1:p:75-87. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mahdi Alibi (email available below). General contact details of provider: http://journals.editions-academiques.com/index.php/IJARMB .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.