scholarly journals THE ISSUES AND CHALLENGES OF SHARIAH HARMONIZATION OF THE CROSS BORDER TRANSACTIOINS: CONCEPTUAL REVIEW OF ISLAMIC BANKING INDUSTRIES

2020 ◽  
Vol 3 (2) ◽  
pp. 1-9
Author(s):  
Abul Bashar Bhuiyan ◽  
Md. Jafor Ali ◽  
K. M. Anwarul Islam ◽  
Md. Shahbub Alam ◽  
Mohammad Solaiman
Keyword(s):  
Jel Classification ◽  
Global Markets ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Market Demand ◽  
Cross Border ◽  
The Common ◽  
The Cross ◽  
Conventional Counterpart ◽  
Regulatory Challenges

The paper aims to identify major’s regulatory challenges are facing in maintaining proper harmonization of Shariah rulings of Islamic Bank across the world in the cross-border activities. The study found that the Islamic banking is confronting challenges to make appropriate rules and regulations for making the common standardized mode of finance to cope up with present market demand for their customer with conventional counterpart base on the Islamic sharia principles. Particularly, in the arena of competing in the global markets and establish unique regulatory institutions for proper harmonization of Shariah rulings of Islamic Banks over the cosmos in the cross-border actions. The study recommends that policymakers are to pay attention to solve the above regulatory issues to face the existing challenges for the smooth financial operation in the future. JEL Classification Codes: G21, G24, L26, P51.

scholarly journals Islamic Bank Safety Net Issues: The Regulatory Challenges for Cross Border Islamic Banking Transactions

2020 ◽  
Vol 4 (2) ◽  
pp. 20-31
Author(s):  
Abul Bashar Bhuiyan ◽  
K. M. Anwarul Islam ◽  
Abd Halim Mohd Noor ◽  
Mohammad Solaiman ◽  
Mohammad Abdur Rahman
Keyword(s):  
Banking Sector ◽  
Safety Net ◽  
Jel Classification ◽  
Capital Adequacy ◽  
Islamic Banking ◽  
Central Bank Intervention ◽  
Cross Border ◽  
Islamic Bank ◽  
The Right ◽  
Regulatory Challenges

This paper aims to identify major regulatory challenges in the safety net for providing insurances to the depositors in the cross-border transaction over the world. The study found that Islamic banking is facing major challenges to issue appropriate rules and regulations for providing the right safety against the deposit of customers with a conventional counterpart base on the Islamic shariah principles. Especially in the area of “chartering or licensing function, prudential regulation and supervision, deposits in the central bank, intervention and resolution mechanisms and capital adequacy standard” for safety net issues of Islamic Bank. The study recommended that the policymakers need to pay heed in a deliberate and intentional way to solve the above regulatory issues to face the existing challenges for the smooth operation and bright prospect of the Islamic Banking sector in the future. JEL Classification Codes: G21, G24, L26, P51.

scholarly journals ISLAMIC BANKING PERFORMANCE MEASUREMENT: A CONCEPTUAL REVIEW OF TWO DECADES

2021 ◽  
Vol 5 (1) ◽  
pp. 16-33
Author(s):  
Elyanti Rosmanidar ◽  
Abu Azam Al Hadi ◽  
Muhamad Ahsan
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Social Performance ◽  
Meta Analysis ◽  
Jel Classification ◽  
Research Trend ◽  
Islamic Banking ◽  
Islamic Banks ◽  
The Past ◽  
Conventional Banks

This article aims to provide an overview of the development of research on the measurement of Islamic banking performance over the past 20 years from 89 selected papers with Scopus-indexed journals ranked Q4 to Q1 or accredited with Sinta 2 to Sinta 1. This study used a qual-quantitative meta-analysis approach using the Mendeley citation application. The distribution of the topic and the depth of research in paper samples based on keywords in publications were analyzed using the VOSviewer application. The results of the analysis showed that the research trend of Islamic banking performance in reputable journals is increasing in recent years. Most of the studies performed in the last two decades have focused on the practice and corporate governance of Islamic banks and comparisons between Islamic and conventional banks based on financial performance ratios and aspect of maqasid al-Shariah; Only a few studies that discuss efficiency, social performance on Islamic banks, regulation, intellectual capital and stability of the financial performance of Islamic banks were found. The further discussion is an empirical exposure without theoretical exploration or analysis which is supposed to become the direction of banking research in the future.  JEL Classification Codes: G21, L25, P17, P47.

scholarly journals Crossing Borders: Anti-Fascist Action (UK) and Transnational Anti-Fascist Militancy in the 1990s

2016 ◽  
Vol 25 (4) ◽  
pp. 707-727 ◽  
Author(s):  
NIGEL COPSEY
Keyword(s):  
Final Part ◽  
Cross Border ◽  
Common Interests ◽  
The Common ◽  
Irish Republic ◽  
The Cross

Far too little academic attention has been paid to more contemporary forms of transnational anti-fascist militancy. Yet this study supports the idea that this field of anti-fascist activity has remained important. This article examines transnational anti-fascist militancy in the 1990s through a case study of Britain's Anti-Fascist Action (AFA). In doing so it offers an in-depth account of AFA's attempts to establish an international militant anti-fascist network in conjunction with Germany's Autonome Antifa (M). The article identifies the common interests, challenges and limitations of this network. The final part of his article reflects on the cross-border importation of AFA to the Irish Republic.

scholarly journals SHARIA BANKING FINANCING MODEL IN ENHANCING THE HALAL CERTIFICATION OF MICRO, SMALL, MEDIUM ENTERPRISE INDUSTRY

El Dinar ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 19-32
Author(s):  
Nasrulloh Nasrulloh
Keyword(s):  
Financial Institution ◽  
Model Solution ◽  
Islamic Banking ◽  
Analytic Method ◽  
Islamic Banks ◽  
Product Certification ◽  
Medium Enterprise ◽  
The Common ◽  
Financing Model ◽  
Study Offer

A large number of Micro, Small, Medium Enterprise (MSMEs) that did not have a halal certificate yet due to lack of funds is one of the main problems in the failure of the implementation of the JPH Law mission. Halal Product Certification Agency (BPJPH) demands all products sold in Indonesia ought to have a halal certificate in 2019. This study aims to provide a model solution from the financial institution side. Islamic banking as a sharia financial institution has a strategic part to help MSMEs, offer a variety of contracts, and make MSMEs able to carry out halal certification processes. By using descriptive-analytic method, the results of this study offer the financing model with murābahah and mudhārabah contract. The financing model with a murābahah contract is applied as in the common purchasing contract. While the financing model with a mudharabah should be adjusted to the principle of profit-loss sharing with some period adjustment. The implication of this research shows that Islamic Banking can be an intermediary between the community and BPJPH. The submission process of halal certificates through the Islamic banks cooperation is considered easier, more efficient, and transparent. 

scholarly journals DIMINISHING MUSHARAKAHIN ISLAMIC BANKS: AN ANALYSIS BASED ON HOME FINANCING

2021 ◽  
Vol 04 (01) ◽  
Author(s):  
Muhammad Junaid Ali Khan ◽  
Abdul Majid
Keyword(s):  
Banking Sector ◽  
Modern World ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Significant Growth ◽  
Banking Systems ◽  
Widespread Acceptance ◽  
Banking Institutions ◽  
The Common

Islamic Banking is one of the fastest growing banking systems in the modern world. It has also achieved significant growth in the Pakistani banking sector in the recent decades. Diminishing Musharakah (DM) is an Islamic mode of finance which not only provides home financing facilities to the customers but also provides other long term financing transaction such as machinery and equipment financing in Islamic banks. In September 2020, DM has the largest share in the Islamic banking financing in Pakistan at 34.5 percent. Considering the widespread acceptance of DM, this paper discusses the shariah structure of DM and its use as a home finance product, specifically its variants, in Islamic Banking Institutions. This paper also clarifies the issues which create confusions in the minds of the common public about Islamic banking products, emphasizing the importance of this product for Islamic Banking Institutions

Analysis of Islamic Banking Efficiency Using Maqashid Shariah Approach (Study on Islamic Banks in Indonesia and Malaysia)

2017 ◽  
Vol 2 (4) ◽  
pp. 01-07
Author(s):  
Novi Puspitasari ◽  
Devi Hardiyanti Rukmana ◽  
Hari Sukarno
Keyword(s):  
Maximum Level ◽  
Jel Classification ◽  
Maximum Efficiency ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Banking Efficiency ◽  
Islamic Bank ◽  
Result Show ◽  
Using Data ◽  
Research Period

Objective - This research aims to analyse the efficiency of Islamic banking in Indonesia and Malaysia based on the maqashid shariah approach. Methodology/Technique - This research uses individual education, creation of justice, and achievement of welfare to measure the efficiency variable. The research period covers the period from 2011 to 2015, using data envelope analysis (DEA). Findings - The result show that there are three (3) Islamic banks that achieve maximum efficiency in Malaysia. These are: Affin Islamic Bank Berhad, which achieved maximum efficiency in terms of distribution and profitability output, CIMB Islamic Bank, which achieved maximum efficiency in terms of distribution output, and RHB Islamic Bank Berhad, which achieved maximum efficiency in terms of distribution output. Meanwhile, two (2) Islamic banks which were considered to be efficient, although not at the maximum level. Novelty - This study shows that Bank Panin Syariah achieves maximum efficiency with respect to distribution output, and that Bank Mega Syariah is considered efficient with respect to profitability output and personal revenue output. Type of Paper - Empirical Keywords: Islamic Banks; Efficiency; Maqashid Shariah; DEA; Indonesia; Malaysia. JEL Classification: G20, G21.

External Shariah Audit Services from Practitioners’ Views: The Case of Malaysian Islamic Banks

2021 ◽  
Vol 6 (3) ◽  
pp. 144-153
Author(s):  
M R Yasoa ◽  
S F Muhamad ◽  
T Abdullah ◽  
M N H Yusoff ◽  
N M Said ◽  
...  
Keyword(s):  
Qualitative Method ◽  
Banking Industry ◽  
Jel Classification ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Structured Interviews ◽  
Confidential Information ◽  
Reputational Risk ◽  
Shariah Governance ◽  
Key Industry

Objective – This paper investigates the possibility and feasibility of Malaysia's Islamic banking industry hiring external Shariah audit (ESA) services in the audit fraternity as one of the Shariah governance mechanisms. Some of the scholars argued that ESA is more independent and is able to strengthen the existing Shariah compliance in the industry. Methodology – This study employs a qualitative method by utilising semi-structured interviews with nine key industry players: Shariah auditors, Heads of Shariah audit, Shariah Committee (SC) Member, and Chief Shariah Officer. Data gathered from the interviews was transcribed and analysed using Atlas.ti software. Findings– A series of interviews reveal that given the current practices by the Islamic banking industry, it could be inferred that the Malaysian Islamic banking industry is not ready to exercise the ESA practices. This unreadiness is due to several factors, such as ESA costs outweighing its benefits, the fear of reputational risk, and anxiety of leaking confidential information to rivals. Novelty – The Shariah audit research especially relates to external Shariah audit is considered limited. Type of Paper: Empirical JEL Classification: E44, G10, G20. Keywords: External Shariah audit; Islamic Banks; qualitative method; Shariah governance; Malaysia

scholarly journals WHY DOES BANGLADESH REQUIRE A CENTRALIZED SHARIAH GOVERNANCE FRAMEWORK FOR ISLAMIC BANKS?

2022 ◽  
Vol 7 (1) ◽  
pp. 24-42
Author(s):  
Md. Kausar Alam ◽  
Oli Ahad Thakur
Keyword(s):  
Central Bank ◽  
Banking Industry ◽  
Monitoring Systems ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Governance Framework ◽  
Governance Practices ◽  
Supervisory Boards ◽  
Shariah Governance ◽  
Regulatory Challenges

The main objective of this article is to describe the logical reasons why a Centralized Shariah Governance Framework (CSGF) provided by the Central Bank of Bangladesh (Bangladesh Bank) is essential for the country’s Islamic banks. In doing so, it identifies the major regulatory challenges (self-developed and disparate use of Shariah Governance (SG) practices) faced by Islamic banks in Bangladesh. It considers an analytical approach to explore the significance of a CSGF for Islamic banks in Bangladesh and examines the current diversified procedures of SG practices. This article reveals that the self-developed SG practices of Islamic banks in Bangladesh have created confusion and pessimism among the practitioners, bankers and even to the general people and regulators which is negatively affecting the overall image of Islamic banks. Such incongruent governance practices have led to inconsistencies in SG structures, implementation procedures, monitoring activities. In addition, this article reveals that these deficiencies usually exist due to weak monitoring systems of the Central Bank, ineffective functioning of individual Shariah Supervisory Boards (SSB) and the absence of comprehensive SGF. The article argues that the Central Bank of Bangladesh should initiate to reform its Islamic banking industry by introducing a CSGF aimed to identify the roles, responsibilities, powers, and functions of SSB; thereby improving governance, accountability, and overall Shariah compliance quality. This article is hoped to be beneficial for the regulators and practitioners to consider revising current practices.   Keywords: Centralization, Bangladesh Bank, Islamic banks, Shariah governance framework.   Cite as: Alam, M. K., & Thakur, O. A. (2022). Why does Bangladesh require a centralized Shariah governance framework for Islamic banks?  Journal of Nusantara Studies, 7(1), 24-42. http://dx.doi.org/10.24200/jonus.vol7iss1pp24-42

scholarly journals MANAJEMEN RISIKO PEMBIAYAAN MUDHARABAH PADA PERBANKAN SYARIAH

2015 ◽  
Vol 6 (1) ◽  
pp. 55
Author(s):  
Indrianawati Indrianawati ◽  
Nisful Lailah ◽  
Dewi Karina
Keyword(s):  
Risk Management ◽  
Data Collection ◽  
Qualitative Approach ◽  
Good Faith ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Problems And Solutions ◽  
The Common ◽  
Common Problems

The purpose of this research is to determine risk management of mudharabah financing in Islamic banking limited to the causes of the low number of mudharabah financing, the common problems and solutions. The method of the research is using a qualitative approach with a case study strategy. The informants are obtained from 3 Islamic Banks (BUS), namely BMI, BSM and BNI Syariah. The data collection is conducted by combining the questions and the obtained data with the result of interview with the Account Officer from the 3 Islamic Banks; BMI, BSM, and BNI Syariah. The result of the research showed that the low number of mudharabah financing is caused by the massive risk, particularly the risk of losses on the bank income. Meanwhile, the problems that commonly occur are non-performing financing because of the side streaming and manipulated data. The solution is restructuring to the bank’s customer who has a good faith. In contrast, bank’s customers that have no good willing to fulfill their obligation will be put into the insurance execution.

scholarly journals Predicting Islamic banks performance through CAMELS rating model

2016 ◽  
Vol 11 (3) ◽  
pp. 37-43 ◽  
Author(s):  
Omar Masood ◽  
Shahid Mohammad Khan Ghauri ◽  
Bora Aktan
Keyword(s):  
Financial Markets ◽  
Growth Analysis ◽  
Financial Statements ◽  
Jel Classification ◽  
Growth Strategy ◽  
Financial Ratios ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Rating Model

This paper analyzes the performance of Islamic banks operating in Pakistan according to their financial results of the year 2015. CAMELS rating model is applied in this research. This model is based on certain financial ratios which are excerpt from values in the financial statements of banks. The authors conduct the research under the umbrella of quantitative paradigm. The authors found that 2 of the Islamic banks are showing satisfactory results, while others are on fair position. There is a need to develop financial markets for treasury operations for these banks. Results help in development of growth strategy for Islamic banks in Pakistan, as well as they might be useful to create a fair snapshot for regulators to develop growth strategy for this stream of banking. Keywords: Islamic banking, performance, growth analysis, CAMELS. JEL Classification: G02, G21, G32

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