scholarly journals Islamic Banking Products, Services and Objectives: Perspectives of Shariah Supervisors and Regulators

2021 ◽  
Vol 10 (1) ◽  
pp. 247-258
Author(s):  
MUHAMMAD AQIB ALI ◽  
TALAT HUSSAIN
Keyword(s):  
Qualitative Research ◽  
Banking Sector ◽  
The State ◽  
Islamic Banking ◽  
Research Approach ◽  
Islamic Banks ◽  
Structured Interviews ◽  
Staff Members ◽  
Qualitative Research Design ◽  
Supervisory Boards

The study is aimed at assessing the opinions of vital Islamic banking stakeholders including members of various Islamic banking Shariah Supervisory Boards (SSBs) and pertinent personnel from Pakistan’s central bank – The State Bank of Pakistan (SBP). The research analyzes the percepts of respondents regarding various aspects relevant to Islamic banking (IB) products, service and objectives. The paper employs qualitative research approach in analyzing the Shariah and regulatory experts’ viewpoints regarding Islamic banking. The study is conducted using semi-structured interviews of twelve Shariah supervisors and nine SBP staff members serving in the Islamic banking department and Islamic banking focus groups in the regional/field offices of the State Bank of Pakistan. The study is of pioneering nature involving qualitative research design and inclusion of two of the most significant stakeholder groups from the Islamic banking sector of Pakistan who have not been included in the past studies regarding Islamic banking perceptions. The research findings highlighted that Shariah objectives are top priority of Islamic banks as per the views expressed by members of Shariah boards of various banks while in opinion of Islamic banking regulators, Islamic banks’ major concern is to achieve their business objectives. Keywords: Islamic Banking, Islamic Finance, Pakistan, Products, Perceptions, Shariah Compliance.

Independence and effectiveness of Shariah supervisory board of Islamic banks: evidence from an emerging economy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Md. Kausar Alam ◽  
Muhammad Shahin Miah
Keyword(s):  
Central Bank ◽  
Banking Sector ◽  
Supervisory Board ◽  
Islamic Banking ◽  
Research Approach ◽  
Islamic Banks ◽  
Legitimacy Theory ◽  
Snowball Sampling ◽  
Content Type ◽  
Theoretical Contribution

PurposeThe main objective of the study is to ascertain the level of independence and the effectiveness of the Shariah Supervisory Board (SSB) members of Islamic banks in Bangladesh. This is because only SSB members are empowered to oversee and certify the overall business functions of Islamic banks.Design/methodology/approachThis paper implements qualitative case research approach to explore the research objective in the context of Bangladesh. We applied purposeful and snowball sampling tactics for selecting respondents. By using a semi-structured questionnaire and face-to-face interviews, we collect data from SSB members, central bank executives and experts in Islamic banking and Shariah governance.FindingsThe study finds that majority Islamic banks' SSB's positions are similar to the Board of Directors (BOD) of the banks. Next, this study finds that in recruiting/selecting SSB members, some banks do not follow the guidelines of the central bank. This study finds mixed evidence regarding the independence of the members of the SSB. Most of the respondents opined that SSBs do not have power; in some cases, members of SSB are not independent and seeming powerless as BOD selects and recruits them. In contrast, they are dependent on management in respect of strategy implementation.Research limitations/implicationsThe study significantly contributed to the national and global regulatory bodies by identifying an important governance determinant of Islamic banks that is the independence of SSB members, which is highly important for both Shariah functions, and to enhance the trust level of the stakeholders. This study makes a theoretical contribution by documenting the violation of stakeholder theory and agency theory in recruiting SSB members by BOD's choice. The lack of SSB members' independence has an impact on Shariah legitimacy of the Islamic banks which is contradictory with the notion of legitimacy theory. This study recommends the central bank to ensure the independence of the SSB and central bank should take initiatives to develop an environment for the Islamic banking sector.Originality/valueThis study extends the literature of corporate governance relating to Islamic banking and financial institutions. More specifically, this paper explores the necessity of independence of members of the monitoring body (here SSB), an important constituent of governance, to ensure high-quality governance and transparency in reporting to increase diverse stakeholders' trust/confidence. The absence of independence of SSB in performing their functions contradicts with the agency, stakeholder and legitimacy theory, which is inconsistent with global evidence, that demands further investigations.

scholarly journals Shari’ah Scholars’ Insight on Shari’ah Governance Framework for Islamic Banking Institutions in Pakistan

2020 ◽  
Vol 5 (2) ◽  
pp. 29-47
Author(s):  
Syed Muhammad Hassan Bukhari ◽  
◽  
Mohammad Ayaz ◽  
Rukhsana Kalim ◽  
◽  
...  
Keyword(s):  
Corporate Governance ◽  
Research Work ◽  
Islamic Banking ◽  
Research Approach ◽  
Islamic Banks ◽  
Structured Interviews ◽  
Governance Framework ◽  
The Board Of Directors ◽  
Banking Institutions ◽  
Implementation Level

Shari’ah Scholars’ Insight on Shari’ah Governance Framework for Islamic Banking Institutions in Pakistan One of the major reasons behind the financial crises generally and the 2008 crises especially, was the poor corporate governance in financial institutions. For ensuring good Islamic corporate governance as well as Shari’ah compliant environment in Islamic banking institutions (IBIs), Shari’ah governance framework (SGF) was developed in many countries including Pakistan. This study is conducted to evaluate the SGF, its implementation level, and the challenges facing the IBIs in the implementation of the SGF in Pakistan. For this purpose, the insight of the Shari’ah scholars is taken on SGF by following the qualitative research approach with semi-structured interviews of the scholars. The respondents included Shari’ah Board’s (SB) members and Incharges of Shari’ah Compliance Department (SCD) in various IBIs in Pakistan. The researchers used Nvivo12 software for the analysis of the interviews data. The study discovered some important issues faced by Islamic banks in the implementation of SGF. It is evident from the research that there are shortcomings and weaknesses in the implementation of Shari’ah governance framework which requires improvements such as interpretation and quantification of the provisions of the SGF, approval from Shari’ah Board (SB) for all minute requirements, reporting line issues, and communication gap between the board of directors (BODs) and the members of SB. This research work suggests that the State Bank of Pakistan (SBP) should revisit the SGF in the light of the present study and further improve its provisions as well ensure the implementation of SGF in true letter and spirit. Keywords: : Shari’ah governance framework, Shari’ah scholars, Implementation, Islamic banking institutions

scholarly journals EMERGENCE OF FINANCIAL TECHNOLOGY IN ISLAMIC BANKING INDUSTRY AND ITS INFLUENCE ON BANK PERFORMANCE IN COVID-19 SCENARIO: A CASE OF DEVELOPING ECONOMY

2021 ◽  
Vol 37 (01) ◽  
pp. 97-109
Author(s):  
Ashfaq Ahmad ◽  
Aamir Sohail ◽  
Abid Hussain
Keyword(s):  
Cyber Security ◽  
Banking Sector ◽  
Banking Industry ◽  
Essential Element ◽  
Bank Performance ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Structured Interviews ◽  
Finance Industry ◽  
Financial Technology

Technological intervention and financial innovation are an essential element for the banking sector especially in post-Covid 19 scenario. Islamic banking industry has also no exception and Islamic banks could attain institutional objectives over financial technology. The motivation behind research is to investigate emergence of financial technology in Islamic Banking Industry and its Influence on Bank Performance. The population of the study consists of Islamic banks and windows of Islamic banks operating in Pakistan. The sample size consists of four Islamic banks, five Islamic windows of conventional banks, and State bank of Pakistan. Purposive sampling technique was used by researcher. Semi-structured interviews were conducted and NVIVO software was used for data analysis. Findings indicate that technologies used by different banks to serve the customer are blockchain, mobile banking, customer relations management, cyber security, cloud banking, and fintech start-up. Reaction and response of the Islamic finance industry to the rise of financial technology and its impact on Pakistan is obvious.

Management of Records in Adapted Buildings as Records Centres in Zimbabwe

Mousaion ◽  
2018 ◽  
Vol 35 (3) ◽  
Author(s):  
Samson Mutsagondo ◽  
Getrude Maduyu ◽  
Godfrey Tsvuura
Keyword(s):  
Qualitative Research ◽  
Case Study Research ◽  
Research Approach ◽  
Records Management ◽  
Personal Observation ◽  
Structured Interviews ◽  
Design Data ◽  
Professional Management ◽  
The Government

This paper discusses the challenges of records management that arise from the use of adapted buildings as records centres in Zimbabwe, despite the advantages of using such buildings. A qualitative research approach was used as well as a case study research design. Data were collected from seven officers of the Gweru Records Centre through semi-structured interviews. Personal observation was used to triangulate findings from interviews. It was found that the use of adapted buildings as records centres was a cheaper and quicker way of establishing records centres throughout the country. However, a number of preservation, security and management challenges cropped up as the conditions of the buildings and the environment of the adapted buildings were not conducive to the proper and professional management of records. This study is important in that it explores the prospects and challenges of using adapted buildings as records centres in Zimbabwe, an area that has not been researched by many authors. This provokes archival authorities and the government to seriously consider establishing purpose-built records and archival centres.

scholarly journals An exploration into the opportunities and constraints for career progression into leadership roles for School Business Managers in the state sector in England

2021 ◽  
pp. 089202062199967
Author(s):  
Josephine Marchant
Keyword(s):  
Career Progression ◽  
The State ◽  
Research Approach ◽  
Leadership Roles ◽  
Business Managers ◽  
Structured Interviews ◽  
State Sector ◽  
Education Professionals ◽  
School Business ◽  
Survey Responses

Drawing on data from 116 survey responses by School Business Managers, and 7 semi-structured interviews with education professionals carried out between October 2017 and February 2018, this article reports on findings from a research project focussing on the opportunities and constraints for career progression into leadership roles for School Business Managers (SBMs) in the state sector in England. The article considers the differing roles and responsibilities of SBMs, how leadership is perceived in schools, the visibility of the SBM role, career aspirations of the SBMs who were surveyed, and the perceived constraints to progression to leadership roles. Analysis of the data was carried out using an inductive research approach using mixed methods. Snowballing was used to obtain a meaningful sample size for survey responses. Interviewees were chosen on the basis of judgement sampling. The sampling design for the survey and the interviews was one of non-probability. Findings suggest that leadership roles for SBMs do exist but that there are considerable constraints to these being achieved, not least the lack of appetite amongst SBMs to do so.

scholarly journals Building Information Modelling: An analysis of the methods used to streamline design-to-construction in New Zealand

2021 ◽  
Author(s):  
◽  
Nelson Chan
Keyword(s):  
Qualitative Research ◽  
Supply Chain ◽  
New Zealand ◽  
Future Research ◽  
Research Approach ◽  
Structured Interviews ◽  
Building Information Modelling ◽  
Architectural Engineering ◽  
Building Information ◽  
Significant Factors

<p>The following study explores and investigates the current methods New Zealand (NZ) Architectural, Engineering and Construction (AEC) firms use to enable effective BIM coordination in their projects. The purpose was to gain and contribute knowledge of the various methods for successful BIM delivery, as well, as to bridge the gap between academia and industry for a greater understanding of BIM use in an NZ context.  A qualitative research approach was carried out and comprised of semi-structured interviews in which eight industry participants across the design-to-construction supply chain were selected and interviewed. From the results, the different methods identified were: BIM-to-fabrication; change of procurement methods; and incorporating BIM Collaboration Format (BCF) plugin platforms. These methods identified contribute to knowledge for future researchers to undertake; predominantly to provide direction and recommendations to explore each method in an NZ industry context further.  Further discussions of the results identify that although the different methods can contribute to better BIM coordination, the success of a BIM model to be delivered effectively is dependent on two significant factors. The factors are; firstly, to capture the BIM requirements and needs of the client to establish well-defined deliverables in the BEP; and secondly, to ensure that the project team are to understand their role and responsibilities right throughout the project. This was a crucial finding in this thesis as although the methods are effective in enabling greater BIM coordination; ultimately it comes down to BIM understanding and expertise from key project stakeholders; which brings the notion of the issue back to the root of the problem. Other key findings from this thesis indicate a positive future for BIM within the NZ AEC industry, with many of the participant firms recognised to be proactive and open to incorporating BIM into their projects. Though the signs are encouraging, discussions with industry participants still express their concerns on needing to align the understanding of BIM between key project stakeholders. Therefore, an education piece which focuses on the client and their understanding of BIM in an NZ context is suggested for future research. This thesis also presents academia with valuable industry BIM workflow diagrams which the author has either illustrated or been provided by participants.</p>

scholarly journals Citizenship Practices Among Youth Who Have Experienced Government Care

2015 ◽  
Vol 40 (1) ◽  
pp. 25-50
Author(s):  
Kate Butler ◽  
Cecilia Benoit
Keyword(s):  
Qualitative Research ◽  
Nous Avons ◽  
Research Design ◽  
Lived Experiences ◽  
Structured Interviews ◽  
Care Experience ◽  
Système De Santé ◽  
Qualitative Research Design ◽  
The Government ◽  
Youth Citizenship

Abstract. Expressions of youth citizenship are evident in young people’s actions, behaviours, and lived experiences. While youth citizenship literature has proliferated in the last two decades, the focus has often been on rights and responsibilities, rather than the differences in citizenship practices amongst youth themselves. Using a qualitative research design, our study explores how youth-with-care-experience practice citizenship. We conducted twenty semi-structured interviews with youth-with-care-experience between the ages of 14-24 in Greater Victoria, Canada. Analysis of participants’ narratives reveals three types of citizenship practices: self-responsible, dissenting and reluctant citizenship. We discuss our findings in the context of the literature on youth citizenship, focusing on the ways that it is contextualized by experiences with family, peers, institutions, and the government care system. Résumé. Les expressions de la citoyenneté des jeunes sont évidentes dans leurs actions, comportements et leurs expériences vécues. Alors que la littérature reliée à la citoyenneté des jeunes a proliféré dans les deux dernières décennies, l’emphase a souvent été mise sur les droits et les responsabilités, plutôt que sur les différences dans les pratiques de la citoyenneté chez les jeunes. En utilisant un modèle de recherche qualitatif, notre étude explore comment la citoyenneté est vécue par les jeunes qui ont été pris en charge. Nous avons effectué vingt entretiens semi-structurés avec des jeunes qui ont été pris en charge âgés entre 14 et 24 ans dans la région de Victoria, Canada. L’analyse des données révèle trois types de pratiques de la citoyenneté: auto-responsable, dissidente et réticente. Nous discutons de nos résultats dans le contexte de la littérature sur la citoyenneté des jeunes, en mettant l’accent sur les façons dont la citoyenneté des jeunes est contextualisée par des expériences avec la famille, les pairs, les institutions et le système de santé.

scholarly journals Prerequisites for a beneficial knowledge transfer between manufacturing plants

2020 ◽  
Vol 51 (11) ◽  
pp. 2-13
Author(s):  
Maike Scherrer ◽  
Patricia Deflorin ◽  
Levente Szász ◽  
Béla-Gergely Rácz ◽  
Ildikó-Réka Cardoș ◽  
...  
Keyword(s):  
Qualitative Research ◽  
Knowledge Transfer ◽  
Multinational Companies ◽  
Coordination Mechanisms ◽  
Research Approach ◽  
Structured Interviews ◽  
Main Method ◽  
Manufacturing Plants ◽  
Collaborative Tools ◽  
Personal Interaction

The paper aims at exploring the prerequisites for a beneficial knowledge transfer between manufacturing plants of multinational companies (MNCs), by taking the characteristics of the knowledge sending and knowledge receiving plant into consideration. This research seeks to understand how efforts undertaken by manufacturing plants, and how collaborative tools and coordination mechanisms influence a successful knowledge transfer. The study includes thirteen case studies conducted in manufacturing plants from four different European countries (i.e., Switzerland, Romania, Albania, and Macedonia). Given the exploratory nature of this study, the authors used a qualitative research approach. The main method of data collection involved multiple semi-structured interviews at manufacturing plants, uniformly applied in each country in order to observe general patterns across different cases. Their results show that the personal interaction between knowledge sending and receiving plants is more important for a successful knowledge transfer than information systems or prior related knowledge.

scholarly journals IMPLEMENTASI EARLY WARNING SYSTEM (EWS) DALAM MENEKAN TINGKAT NON PERFORMING FINANCING (NPF) DI PERBANKAN SYARIAH

2020 ◽  
Vol 5 (2) ◽  
pp. 124-154
Author(s):  
Novi Febriyanti
Keyword(s):  
Early Warning ◽  
Early Warning System ◽  
Banking Sector ◽  
Warning System ◽  
Field Research ◽  
Research Approach ◽  
Islamic Banks ◽  
Literature Study ◽  
Operating Income ◽  
Sound Policy

The health of a bank based on sharia principles is in the interest of all parties involved, including the owner, bank management, public users of bank services, Bank Indonesia as the bank supervisory authority and other parties. The following article aims to discuss the principles of Sharia prudential banking through an early warning system (EWS) that Islamic banks usually apply. The research method used is qualitative with a field research approach and literature study with data collection techniques through observation, interviews and documentation. The results show that the application of an early warning measurement system for Islamic banks can be calculated using several indicators, namely including return on equity (ROE), return on assets (ROA), financing to deposit ratio (FDR), non-performing finance (NPF) and ratios. operating costs and operating income (BOPO). This is implemented to reduce the level of problematic financing caused by two factors, namely internal factors (the banking sector), namely the lack of maintenance that has been determined, accuracy in business analysis, understanding of the necessary needs, inclusion of sound policy requirements and pursuing targets. External factors (debtors) are natural disasters, decreased business, collateral, increased competition for business types, low education levels and family factors.

scholarly journals 'MAQASID AL-SHARIAH' IN ISLAMIC BANKS BEFORE VALUE-BASED INTERMEDIATION IMPLEMENTATION

2021 ◽  
Vol 18 (2) ◽  
pp. 173-189
Author(s):  
Sharifah Faigah Syed Alwi ◽  
◽  
Fateha Abd Halim ◽  
Tengku Dewi Ahdiyaty Tengku Ahmad Mazlin ◽  
Aizurra Haidah Abdul Kadir ◽  
...  
Keyword(s):  
Qualitative Methodology ◽  
Islamic Law ◽  
Human Life ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Structured Interviews ◽  
The Public ◽  
Library Research ◽  
Banking Institutions ◽  
Banking Operations

Bank Negara Malaysia (BNM) had introduced Value-Based Intermediation (VBI) initiatives to help Islamic banks implement a structuralised form of maqasid al-shariah (objectives of shariah (Islamic law)) in their banking operations. Thus, questions were raised by the public on whether or not Islamic banking institutions in Malaysia had been achieving maqasid al-shariah in their banking operations prior to VBI. This paper aims to discuss the real concept of maqasid al-shariah that should be realised in Islamic banks and investigate whether Islamic banks had truly been achieving maqasid al-shariah in their banking operations before the introduction of VBI. Library research is conducted to obtain information on maqasid al-shariah and the qualitative methodology is adopted to gain information from three bankers representing three Islamic banks in Malaysia via semi-structured interviews. The researchers found that the fundamental concept of maqasid al-shariah in Islamic banks includes the protection of religion, life, intellect, progeny and wealth in human life through the products and services offered by the banks. The Islamic banks were found to have developed their products and services to achieve maqasid al-shariah even before VBI was introduced by BNM. However, with VBI, a proper framework in achieving maqasid al-shariah has been developed.

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