What is it about?

The purpose of this paper is to evaluate the Shari’ah compliance status of the Islamic banks in Bangladesh. The study found that Shari’ah compliance status of the Islamic banks in Bangladesh is in a vulnerable condition, Shari’ah compliance status highly varies among the Islamic banks, and Shari’ah violation is high in investing activities because of lack of knowledge, lack of sincerity in complying Shari’ah, poor attention in Shari’ah audit and Shari’ah research and lack of strong Shari’ah supervisory board comprising full-time skillful members.

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Why is it important?

Shariah Compliance is the foundation of Islamic Banking. This paper examines how Islamic the Islamic banks operating in Bangladesh. The paper opens a new avenue in justifying the status of Shari’ah compliance with a new dataset and correlating Shari’ah violation score with bank-specific attributes.

Perspectives

As an author, I am more interested in practical research than theoretical research. This paper is a part of my that interest and it leads me to develop a further couple of papers which will be published soon.

Dr. Md. Hafij Ullah
Coventry University

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This page is a summary of: Shari’ah compliance in Islamic banking, International Journal of Islamic and Middle Eastern Finance and Management, June 2014, Emerald, DOI: 10.1108/imefm-06-2012-0051.
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