Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution

Purpose: This paper aims to provide insight on internal Shariah audit change process in Islamic banking institution using sociology of translationin and the identification of specific Islamic legal maxim (ILM). Design/methodology/approach: This paper gathered findings using qualitative approach wher...

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Published in:Qualitative Research in Financial Markets
Main Author: Abd Rahman N.; Hoque M.N.; Osman M.R.; Mastuki N.
Format: Article
Language:English
Published: Emerald Publishing 2024
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85204372676&doi=10.1108%2fQRFM-11-2023-0262&partnerID=40&md5=e1ee596f5d420ec5cb6baa4e7fb078cd
id 2-s2.0-85204372676
spelling 2-s2.0-85204372676
Abd Rahman N.; Hoque M.N.; Osman M.R.; Mastuki N.
Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
2024
Qualitative Research in Financial Markets


10.1108/QRFM-11-2023-0262
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85204372676&doi=10.1108%2fQRFM-11-2023-0262&partnerID=40&md5=e1ee596f5d420ec5cb6baa4e7fb078cd
Purpose: This paper aims to provide insight on internal Shariah audit change process in Islamic banking institution using sociology of translationin and the identification of specific Islamic legal maxim (ILM). Design/methodology/approach: This paper gathered findings using qualitative approach where a single case study was selected. The study began with a preliminary study to assist the selection of the case study and later two phases of interviews done at the institution selected as the case study. Findings: This paper has provided insights into the internal Shariah audit practices change using sociology of translation that incorporated ILM as the basis to strengthen the Islamic banking operations by achieving maqasid al-Shariah (MS). The findings of this paper provide distinguished insight on internal Shariah audit change process and ILM. The significance of this study is that a new contribution through exploring the viewpoints of the perception that satisfying the minimum legal requirements of Shariah compliance may not be sufficient for proper Shariah audit in IBIs. Therefore, the existence of ILM within a change process serves as a basis for best practices to be able to achieve MS through the means (wasa’il) used in realising IBIs’ objectives. Originality/value: The application of ILM to internal Shariah audit change process that would guide Muslim auditors to be in line with Islamic principles. This paper focuses on the application of ILM to the Shariah audit practices changes as ILM embodied ethical value to the general concept of maslahah (well-being) under MS in the period of post-COVID-19. © 2024, Emerald Publishing Limited.
Emerald Publishing
17554179
English
Article

author Abd Rahman N.; Hoque M.N.; Osman M.R.; Mastuki N.
spellingShingle Abd Rahman N.; Hoque M.N.; Osman M.R.; Mastuki N.
Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
author_facet Abd Rahman N.; Hoque M.N.; Osman M.R.; Mastuki N.
author_sort Abd Rahman N.; Hoque M.N.; Osman M.R.; Mastuki N.
title Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
title_short Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
title_full Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
title_fullStr Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
title_full_unstemmed Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
title_sort Internal Shariah audit change: an identification of specific Islamic legal maxim in Islamic banking institution
publishDate 2024
container_title Qualitative Research in Financial Markets
container_volume
container_issue
doi_str_mv 10.1108/QRFM-11-2023-0262
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85204372676&doi=10.1108%2fQRFM-11-2023-0262&partnerID=40&md5=e1ee596f5d420ec5cb6baa4e7fb078cd
description Purpose: This paper aims to provide insight on internal Shariah audit change process in Islamic banking institution using sociology of translationin and the identification of specific Islamic legal maxim (ILM). Design/methodology/approach: This paper gathered findings using qualitative approach where a single case study was selected. The study began with a preliminary study to assist the selection of the case study and later two phases of interviews done at the institution selected as the case study. Findings: This paper has provided insights into the internal Shariah audit practices change using sociology of translation that incorporated ILM as the basis to strengthen the Islamic banking operations by achieving maqasid al-Shariah (MS). The findings of this paper provide distinguished insight on internal Shariah audit change process and ILM. The significance of this study is that a new contribution through exploring the viewpoints of the perception that satisfying the minimum legal requirements of Shariah compliance may not be sufficient for proper Shariah audit in IBIs. Therefore, the existence of ILM within a change process serves as a basis for best practices to be able to achieve MS through the means (wasa’il) used in realising IBIs’ objectives. Originality/value: The application of ILM to internal Shariah audit change process that would guide Muslim auditors to be in line with Islamic principles. This paper focuses on the application of ILM to the Shariah audit practices changes as ILM embodied ethical value to the general concept of maslahah (well-being) under MS in the period of post-COVID-19. © 2024, Emerald Publishing Limited.
publisher Emerald Publishing
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language English
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