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Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 10 [Article No.:] 418 [Year:] 2022 [Pages:] 1-22
Verlag: 
MDPI, Basel
Zusammenfassung: 
Shari'a governance is considered a crucial element of the Islamic banking industry. As recent as 2017, Islamic banks in the Kingdom of Bahrain were required by the regulator to have only a Shari'a Supervisory Board and an internal Shari'a function. In 2017, the Central Bank of Bahrain issued a new Shari'a Governance module (SG) in its rulebook, requiring all Islamic banks to have at least two internal Shari'a departments instead of one, mandated external Shari'a auditing, and maintaining the necessity of having a Shari'a Supervisory Board. In this study, through an empirical enquiry, we analyse how the Islamic banking industry implemented this new module. The empirical results revealed that there seems to be an implementation gap between Islamic retail and wholesale banks, where the former have fully implemented the new Shari'a governance requirements, while the latter were given exemptions to postpone its implementation.
Schlagwörter: 
Shari&#x2019
a governance
Shari&#x2019
a audit
regulation
Islamic finance
JEL: 
G11
G14
G18
G21
G33
C00
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
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Dokumentart: 
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