Highlights
Purpose: The present paper aims to outline current practices of Shariah Governance in the context of Islamic banks and financial institutions in Malaysia. This paper highlights the major challenges faced by such organizations in implementing Shariah Governance. This paper aims to address the role of Shariah boards, committees and management relationships in this regard.
Methodology: Exploration research methods are used in Islamic banking and finance to address Shariah Governance practices in Malaysia. In this regard, many related articles have been reviewed that highlight Shariah banking practices by Islamic organizations. The comparative study method is used to understand the differences between Shariah banking practices and the corporate governance system used by conventional financial institutions.
Findings: As found in this study, the majority of Shariah governance practices are confronted with the challenge of lack of knowledge among Islamic scholars.
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