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3. Graduate School of Business / Pusat Pengajian Siswazah Perniagaan

Title:	Shariah committee attributes, its involvement and the Malaysian Islamic financial institutions value creation : a systemic insight
Authors:	Sabarina Mohammed Shah (ZP00031)
Supervisor:	Pusat Pengajian Siswazah Perniagaan
Keywords:	Shariah committee Islamic financial Banks and banking - Religious aspects - Islam
Issue Date:	15-May-2015
Description:	Shariah adalah asas kepada kewujudan Institusi Kewangan Islam bagi mencapai maqasid al shariah yang mana berbeza daripada Institusi Kewangan Konvensional. Namun, selepas empat dekad kritikan terhadap Institusi Kewangan Islam adalah ianya masih sama dengan Institusi Kewangan Konvensional. Akibatnya, perhatian yang ditujukan kepada keberkesanan Penasihat Shariah telah meningkat. Kajian lepas adalah agak terhad di dalam memeriksa keberkesanan dan penghasilan nilai dari segi sudut teori dan kaedah yang digunakan yang mana tidak mengambilkira cabaran yang dihadapi oleh industri. Oleh itu, tesis ini ingin mengisi jurang tersebut dengan memberikan satu gambaran yang menyeluruh. Kerangka konseptual yang terhasil daripada doktrin Akauntabiliti Islam digunakan bagi memeriksa keberkesanan peranan tugas-tugas Penasihat Shariah yang dipengaruhi oleh ciriciri mereka dan penglibatan di dalam mencapai maqasid al shariah. Rekabentuk kajian adalah berdasarkan kaedah campuran dimana pendekatan kuantitatif melalui survei telah digunapakai. Soalselidik, berdasarkan kepada lima konstruk utama tela dbentuk iaitu ciriciri Penasihat Shariah, peranan menasihati dan mengawalselia dan ciri maqasid al shariah yang khusus iaitu memelihara agama dan harta. Soalselidik telah diedarkan kepada sejumlah 240 sampel yang terdiri daripada 113 ahli Penasihat Shariah dan 127 Petugas Shariah. Seterusnya, satu model keratan rentas telah diaplikasikan kerana ianya membolehkan pemeriksaan secara serentak ke atas hubungan sedia ada yang mana menghasilkan satu model struktur laluan. Model struktur laluan ini menunjukkan terdapat hubungan signifikan yang positif di antara semua laluan yang diuji dimana perantaraanya adalah tugas mengawalselia Penasihat Shariah. Bagaimanapun, ianya tidak begitu bagi tugas menasihati. Manakala, kaedah kualitatif melalui kanta “post positivist” mengunapakai sesi temuduga kumpulan fokus bersama Penasihat Shariah. Hasilnya menunjukkan terdapat kebimbangan terhadap keberadaan Penasihat Shariah yang berkelayakan tinggi, pelaksanaan kerangka tadbir urus 2011, isu-isu tingkah laku dan perbezaan pengukuran maqasid al shariah. Oleh itu, tesis ini mencadangkan intervensi positif oleh Bank Negara Malaysia dan perubahan minda oleh pemain industri. Ini akan membawa kepada struktur tadbir urus yang lebih berdaya dan telus bagi meningkatkan penglibatan Penasihat Shariah dalam mencapai maqasid al shariah.,Shariah is the very essence as to the existence of the Islamic Financial Institution (IFI) in order to achieve the maqasid al shariah which differs from the Conventional Financial Institution. However, after four decades the critique is that Islamic Financial Institution remains indistinguishable from the Conventional Financial Institution. Consequently, there is an increase attention directed towards the effectiveness of the Shariah Committee members. Previous studies had been incoherent in examining their effectiveness and IFI value creation in terms of the theoretical lens and methods used which did not anticipate the systemic challenges faced by the industry. Thus, this thesis addresses this gap by providing a systemic insight. The conceptual framework derived from the Islamic Accountability doctrine is used to examine the effectiveness of the Shariah Committee roles which are influenced by their attributes and involvement in achieving maqasid al shariah. The research design is based on a mixed method whereby the quantitative approach through survey was employed. The questionnaire, based on five main constructs namely the Shariah Committee attributes, monitoring, advising roles and the maqasid al shariah specifically in preservation of religion and wealth, was developed. The questionaire was distributed to a total sample of 240 which is subdivided into 113 and 127 of Shariah Committee members and Shariah Personnel in Malaysian IFI, respectively. Subsequently, a cross sectional model is applied for it enables the examination of the existing association simultaneously which resulted in the structural path model. The structural path model revealed that there is a significant positive association between all the paths tested with monitoring role as a mediator. However, this does not hold true for the advising role. Meanwhile, the qualitative approach through the lens of post positivist employed the focus group interview session with the Shariah Committee members. The findings revealed that there exist concerned on the availability of qualified Shariah Committee, the implementation of Shariah Governance Framework 2011, behavioural issues and differences in the measurement of the maqasid al shariah. Thus, this thesis proposed for a positive intervention by Bank Negara Malaysia and changes of mindset within the industry players. This will lead to a more enabling and transparent governance structure to increase the Shariah Committee involvement in order to truly achieve the maqasid al shariah.,PhD
Pages:	359
Call Number:	HG3368.A6S185 2015 tesis
Publisher:	UKM, Bangi
Appears in Collections:	Graduate School of Business / Pusat Pengajian Siswazah Perniagaan

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