Isu-Isu Perundangan Dalam Kedudukan Dan Peranan Statutori Majlis Penasihat Syariah Bank Negara Malaysia

The Islamic banking system in Malaysia has gone through various legal phases since its inception in 1983. The Shariah Advisory Council is recognized by the Malaysian Central Bank Act 2009 as the sole authority to ascertain the legality (hiikum syarak) of banking practices within Islamic banking. Sha...

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Bibliographic Details
Published in:Global Journal Al-Thaqafah
Main Author: Amsyar Mohd Arif M.I.; Markom R.
Format: Article
Language:English
Published: Universiti Sultan Azlan Shah 2020
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85101279307&partnerID=40&md5=af7f723aa79b1a060248a230e4df32b6
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Summary:The Islamic banking system in Malaysia has gone through various legal phases since its inception in 1983. The Shariah Advisory Council is recognized by the Malaysian Central Bank Act 2009 as the sole authority to ascertain the legality (hiikum syarak) of banking practices within Islamic banking. Shariah resolution of the Shariah Advisory Council has been mandated to be binding for all parties, including the civil court. Nevertheless, the legal status of the position and roles of the Shariah Advisory Council remains unclear thereby creating unwarranted legal gaps in the statutory laws. The objective of this paper is to identify the legal issues pertaining to the validity of the legislated statute that regards: a) the shariah resolution as binding; b) members of Shariah Advisory Council as legal experts; and c) the Shariah Advisory Council as supreme. This is a qualitative research involving literary reviews and unstructured interviews as means of data collection. Statutory provisions passed by the Malaysian Parliament and court judgements were studied to understand the legal structure which supports the position of the Shariah Advisory Council. Research outcome reveals that, while Section 57 of the Central Bank Act 2009 may be used as an ouster clause that renders the Shariah Advisory Council power and immunity given its position as the supreme authority in the Islamic Banking industry in Malaysia, nonetheless, the case of Rayuan Sivil No. 01(f)-17-06-/2016 (A), Indiri Ghandi a/p Mutho Iwn Pengarah Jabatan Agama Islam Perak dan lain-lain, as an example, proves that the courts still possess jurisdiction to review judgments in administrative matters pertaining to procedural compliance in order to ensure the proper administration of the law. Also, improvements are still needed in the legal framework and footing of the Shariah Advisory Council. This study also proposes that two internal procedures be instituted as part of a constructive improvement so that the Shariah Advisory Council may carry out its responsibilities more effectively. © 2020. All Rights Reserved.
ISSN:22320474