Araştırma Makalesi
Legal and Regulatory Frameworks For Sharī’a Governance Practices in the Islamic Banking Industry of Bangladesh
Öz
This paper aims to explore the regulatory arrangements for sharī’a governance practices in the Islamic banking industry of Bangladesh and to identify the issues and challenges faced in this regard. Despite notable advancements, the necessity for a more robust regulatory framework, separate from the modified Banking Companies Act of 1991, which currently integrates Islamic banking regulations, remains apparent. A conspicuous challenge lies in the lack of a dedicated department within Bangladesh Bank responsible for overseeing Islamic banking activities. The article suggests an independent government-supervised Sharī’a board. This study enhances Bangladesh's Islamic banking regulation and promotes an understanding of sharī’a governance. The research is based on the review of existing literature but lacks empirical evidence. It has been stated in previous studies that a survey method can be used to examine real scenarios. This paper discusses the effectiveness of the Islamic Law Rules in the current practices of Islamic banks in Bangladesh, shedding light on their deficiencies.
Anahtar Kelimeler
Islamic Law Sharī’a Standards Islamic Banking Finance Bangladesh
Kaynakça
- Abrahimi, Mohammad Fawad. İslam Medeniyetinin İki Şehri (Belh ve Konya) Üzerinde Mevlana’nın Etkilerinin İncelenmesi. İstanbul: Marmara Üniversitesi, Sosyal Bilimler Enstitüsü, Yüksek Lisans Tezi, 2019.
- Abdullah, Md. Faruk - Rahman, Asmak Ab. “Shari’ah Governance of Islamic Banks in Bangladesh Issues and Challenges.” Journal of Islamic Economics, Banking and Finance 13/3 (2017), 82–94.
- Adedeji, Babatunji et al. “Corporate Governance, Sustainability Initiatives and Firm Performance: Theoretical and Conceptual Perspectives.” Asian Journal of Social Science 9/1 (2019), 35–47. https://doi.org/10.18488/journal.1.2019.91.35.47
- Ahmed, Mahmood - Khatun, Maksuda. “The Compliance with Sharī’a Governance System of AAOIFI: A Study on Islamsic Banks Bangladesh Introduction.” Journal of Islamic Economics, Banking and Finance 9/3 (2013), 177–191. https://doi.org/doi.org/10.12816/0001617
- Ahmed, Riazuddin - Mohamad, Mohamad Saifullah. “The Practice of Sharī’a Governance in Islamic Banking and Finance: A Study of Islamic Banks in Bangladesh.” International Journal of Management and Applied Research 6/4 (2019), 271–284.
- Alam, Md. Kausar “A Proposed Centralized Sharī’a Governance Framework for Islamic Banks in Bangladesh.” Journal of Islamic Accounting and Business Research 13/2 (2021), 364–389. https://doi.org/10.1108/JIABR-03-2021-0106
- Alam, Md. Kausar et al. “A Central Sharī’a Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation.” The Journal of Asian Finance, Economics and Business 7/1 (2020), 91–100.
- Alam, Md. Kausar et al. “External Sharī‘ah Audit and Review Committee Vis-a-Vis Sharī‘ah Compliance Quality and Accountability: A Case of Islamic Banks in Bangladesh.” Journal of Public Affairs 22/1 (2020), 2–10.
- Alam, Md. Kausar et al. “Independence and Effectiveness of Sharī’a Department Officers to Ensure Sharī’a Compliance: Evidence from Islamic Banks in Bangladesh.” Asian Journal of Accounting Research 8/1 (2022), 15–26. https://doi.org/10.1108/AJAR-01-2022-0022
- Alam, Md. Kausar et al. “Sharī’a Governance Framework of Islamic Banks in Bangladesh: Practices, Problems and Recommendations.” Asian Economic and Financial Review 9/1 (2019), 118–132. https://doi.org/10.18488/journal.aefr.2019.91.118.132
- Alam, Md. Kausar et al. “The Influences of Board of Directors and Management in Sharī’a Governance Guidelines of the Islamic Banks in Bangladesh.” Journal of Islamic Accounting and Business Research 11/9 (2020), 1633–1647.
- Alam, Md. Kausar et al. “The Influences of Sharī’a Governance Mechanisms on Islamic Banks Performance and Sharī’a Compliance Quality.” Asian Journal of Accounting Research 7/1 (2022), 2–16.
- Alam, Md. Kausar - Miah, Muhammad Shahin. “Independence and Effectiveness of Sharī’a Supervisory Board of Islamic Banks: Evidence from an Emerging Economy.” Asian Review of Accounting 29/2 (2021), 173–191.
- Arsyianti, Laily Dwi. “The Role of Sharī’a Supervisory Board In Islamic Financial Industry (Case Study: Iran, Malaysia, And Indonesia).” Al-Infaq: Jurnal Ekonomi Islam 1/1 (2010), 61–79.
- Bin, Dali Nuradli Ridzwan Shah et al. “Performance of Sharī’a Compliance Companies in the Plantation Industry.” International Journal of Islamic and Middle Eastern Finance and Management 1/2 (2008), 166–178. https://doi.org/10.1108/17538390810881008
- Can, Gökberk. “Does Sharia Compliance Affect Financial Reporting Quality? An Evidence from Muslim Majority Countries.” International Journal of Islamic and Middle Eastern Finance and Management 14/1 (2021), 16–33. https://doi.org/doi.org/10.1108/IMEFM-04-2019-0149
- Djibrilla, Moctar Moussa et al. “The Challenges of Sharī’a Compliance in the Islamic Banking Practices: Whether Ibn-Al Qayyim’s Principles of Muamalat Be the Panacea?” The Journal of Muamalat and Islamic Finance Research 14/1 (2017), 73–85.
- Farooq, Omar - Alahkam, Amal. “Performance of Sharī’a-Compliant Firms and Non-Sharī’a-Compliant Firms in the MENA Region: Which Is Better?” Journal of Islamic Accounting and Business Research 7/4 (2016), 268–281. https://doi.org/10.1108/JIABR-10-2013-0039
- Hanif, Muhammad. “Sharīʿah-Compliance Ratings of the Islamic Financial Services Industry: A Quantitative Approach.” ISRA International Journal of Islamic Finance 10/2 (2018), 162–184. https://doi.org/10.1108/IJIF-10-2017-0038
- Haron, Razali et al. “Shari’ah Governance of Islamic Banks: The Role of Shari’ah Supervisory Board - A Bibliometric Analysis.” IIUM LAW JOURNAL 30/2 (2022), 129–157.
- Hassan, M Kabir et al. “Case Studies of Sharī’a Governance Practices in Bangladesh.” Doha, Qatar: HBKU, 2017.
- Hosen, Sharif et al. “Talent Management: An Escalating Strategic Focus in Bangladeshi Banking Industry.” The International Journal of Academic Research in Business and Social Sciences 8/1 (2018), 156–166.
- Hossain, Md Muhabbat. “Financial Statements of Banks Under Islamic Sharī’a: Status of Regulatory Compliance.” Thoughts on Economics 22/1 (2012), 57.
- Iqbal, Munawar - Molyneux, Philip. History and Growth of Islamic Banking and Finance. In: Thirty Years of Islamic Banking. London: Palgrave Macmillan, 2005.
- Islam, K. M. Anwarul et al. “The Impact of Sharī’a Supervisory Board and Sharī’a Audit Committee on Corporate Social Responsibility Adoption at Islamic Banks in Bangladesh.” Journal of Asian Finance, Economics and Business 8/3 (2021), 479–485.
- Islam, Md Robiul - Sadekin, Mohammad Shamsus. “Disclosure of Financial Reporting of Islamic Financial Institutes of Bangladesh: A Concept of Relevant Reviews.” International Journal of Economics Business and Accounting Research (IJEBAR) 4/3 (2020), 319–339.
- Islam, Shariful. “The ‘Flexible’ Sharī’a Practice of Islamic Banking in Bangladesh.” Dhaka Tribute (2020). https://archive.dhakatribune.com/business/banks/2017/10/30/flexible-sharī’a-practice-islamic-banking-bangladesh
- Jan, Sahıbzada Muhammad Wasım et al. “Regulatory Arrangement for Sharī’a Governance Practice of Islamic Banking Institutions in Pakistan: Issues and Challenges.” Hitit Ilahiyat Dergisi 20/1 (2021), 167–194.
- Karim, Md. Rezaul - Shetu, Samia Afrin. “Level of Sharī’a Compliance in the Operation of Islamic Banks in Bangladesh: An Empirical Study.” International Journal of Islamic Economics and Finance Studies 6/3 (2020), 293–317. https://doi.org/10.25272/ijisef.755679
- Kasim, Nawal et al. “Shari’ah Governance for Islamic Capital Market: A Step Forward.” International Journal of Educational Research 6/1 (2013), 1–14.
- Naser, Kamal et al. “Islamic Banking: A Study of Customer Satisfaction and Preferences in Jordan.” The International Journal of Bank Marketing 17/3 (1999), 135–151.
- Perves, Mohammad Masud. “Legal and Regulatory Framework in Islamic Banking System: Bangladesh Perspective.” European Journal of Business and Management 7/21 (2015).
- Rosly, Saiful Azhar - Bakar, Mohd Afandi Abu. “Performance of Islamic and Mainstream Banks in Malaysia.” International Journal of Social Economics 30/12 (2003), 1249–1265.
- Sholihin, Muhammad et al. “Sharī’a Compliance in Islamic Economics: A Bibliometric Analysis.” Malaysian Journal of Economic Studies 58/2 (2021), 315–337.
- Tabash, Mosab I. et al. “Ethical Legitimacy of Islamic Banks and Governance: Evidence from Bangladesh.” Journal of Public Affairs 22/2 (2022).
- Trakic, Adnan. “Shari’ah Compliance in Islamic Finance Contracts: The Malaysian Constitutional Dilemma.” Oxford University Commonwealth Law Journal 20/2 (2020), 289–309. https://doi.org/10.1080/14729342.2020.1812025
- Uddin, Ahm Ershad - Hira, Ayhan. “Bangladeş’te Kira Sertifikası (Sukuk) Uygulamasının İslam Hukuku Açısından Analizi” 10/20 (2023), 577–601. https://doi.org/10.17050/kafkasilahiyat.1250424
- Ullah, Hafij. “Shari’ah Compliance in Islamic Banking: An Empirical Study on Selected Islamic Banks in Bangladesh.” International Journal of Islamic and Middle Eastern Finance and Management 7/2 (2014), 182–199.
- Ullah, Md. Hafiz. “Shari’ah Compliance in Islamic Banking: An Empirical Study on Selected Islamic Banks in Bangladesh.” International Journal of Islamic and Middle Eastern Finance and Management 7/2 (2014), 182–199.
- Developments of Islamic Banking System in Bangladesh. Dhaka: Islamic Banking Wing Research Department Bangladesh Bank, September 2022. “Guidelines For Islamic Banking.” Dhaka: Bangladesh Bank, 2009.
- ICD-Refinitiv Islamic Finance Development Report 2022. Malaysia: IFDI, 2022.
- Islamic Corporation for The Development Of The Private Sectormember. Jeddah: The Islamic Development Bank (IsDB) GROUP, 2020. https://icd-ps.org/en/news/refinitiv-icd-2020-report-global-islamic-finance-assets-expected-to-hit-369-trillion-in-2024
İslam Hukuk Kurallarının Günümüz Uygulamalarındaki Etkinliği: Bangladeş'in İslami Bankacılık Sektöründeki Faaliyetleri ve Eksiklikleri Üzerine Bir Araştırma
Öz
Bu makale, Bangladeş'in İslami bankacılık sektöründe şer'i yönetişim uygulamalarına ilişkin düzenleyici düzenlemeleri araştırmayı ve bu bağlamda karşılaşılan sorunları ve zorlukları belirlemeyi amaçlamaktadır. İslami bankacılık alanında kayda değer ilerlemeler kaydedilmiş olmasına rağmen, şu anki düzenlemelerin, değiştirilmiş 1991 tarihli Bankacılık Şirketleri Kanunu'ndan ayrı, daha sağlam bir düzenleyici çerçeveye ihtiyaç olduğunu göstermektedir. Ayrıca, Bangladeş Bankası bünyesinde İslami bankacılık faaliyetlerini denetlemekten sorumlu özel bir departmanın bulunmaması da dikkat çekici bir sorundur. Bu nedenle, makale, hükümet tarafından denetlenen bağımsız bir şer'i kurulun kurulmasını önermektedir. Bu çalışma, Bangladeş'in İslami bankacılık düzenlemesini geliştirmeyi ve şer'i yönetişim anlayışını desteklemeyi amaçlamaktadır. Araştırma mevcut literatürün incelenmesine dayanıyor ancak ampirik kanıtlardan yoksun. Daha önceki çalışmalarda gerçek senaryolarını incelemek için bir anket yöntemi kullanılabileceği belirtiliyor. Bu yazı, Bangladeş'teki İslami bankaların mevcut uygulamalarındaki İslam Hukuku Kurallarının etkinliğini eksiklikleri vurgulayarak tartışmaktadır.
Anahtar Kelimeler
İslam Hukuku Şeriat Standartları İslami Bankacılık Finans Bangladeş.
Teşekkür
sayın editör, doktora tezinden üretilmiş bir makaleyi sizlere sunmaktan mutluluk duyarız.
Kaynakça
- Abrahimi, Mohammad Fawad. İslam Medeniyetinin İki Şehri (Belh ve Konya) Üzerinde Mevlana’nın Etkilerinin İncelenmesi. İstanbul: Marmara Üniversitesi, Sosyal Bilimler Enstitüsü, Yüksek Lisans Tezi, 2019.
- Abdullah, Md. Faruk - Rahman, Asmak Ab. “Shari’ah Governance of Islamic Banks in Bangladesh Issues and Challenges.” Journal of Islamic Economics, Banking and Finance 13/3 (2017), 82–94.
- Adedeji, Babatunji et al. “Corporate Governance, Sustainability Initiatives and Firm Performance: Theoretical and Conceptual Perspectives.” Asian Journal of Social Science 9/1 (2019), 35–47. https://doi.org/10.18488/journal.1.2019.91.35.47
- Ahmed, Mahmood - Khatun, Maksuda. “The Compliance with Sharī’a Governance System of AAOIFI: A Study on Islamsic Banks Bangladesh Introduction.” Journal of Islamic Economics, Banking and Finance 9/3 (2013), 177–191. https://doi.org/doi.org/10.12816/0001617
- Ahmed, Riazuddin - Mohamad, Mohamad Saifullah. “The Practice of Sharī’a Governance in Islamic Banking and Finance: A Study of Islamic Banks in Bangladesh.” International Journal of Management and Applied Research 6/4 (2019), 271–284.
- Alam, Md. Kausar “A Proposed Centralized Sharī’a Governance Framework for Islamic Banks in Bangladesh.” Journal of Islamic Accounting and Business Research 13/2 (2021), 364–389. https://doi.org/10.1108/JIABR-03-2021-0106
- Alam, Md. Kausar et al. “A Central Sharī’a Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation.” The Journal of Asian Finance, Economics and Business 7/1 (2020), 91–100.
- Alam, Md. Kausar et al. “External Sharī‘ah Audit and Review Committee Vis-a-Vis Sharī‘ah Compliance Quality and Accountability: A Case of Islamic Banks in Bangladesh.” Journal of Public Affairs 22/1 (2020), 2–10.
- Alam, Md. Kausar et al. “Independence and Effectiveness of Sharī’a Department Officers to Ensure Sharī’a Compliance: Evidence from Islamic Banks in Bangladesh.” Asian Journal of Accounting Research 8/1 (2022), 15–26. https://doi.org/10.1108/AJAR-01-2022-0022
- Alam, Md. Kausar et al. “Sharī’a Governance Framework of Islamic Banks in Bangladesh: Practices, Problems and Recommendations.” Asian Economic and Financial Review 9/1 (2019), 118–132. https://doi.org/10.18488/journal.aefr.2019.91.118.132
- Alam, Md. Kausar et al. “The Influences of Board of Directors and Management in Sharī’a Governance Guidelines of the Islamic Banks in Bangladesh.” Journal of Islamic Accounting and Business Research 11/9 (2020), 1633–1647.
- Alam, Md. Kausar et al. “The Influences of Sharī’a Governance Mechanisms on Islamic Banks Performance and Sharī’a Compliance Quality.” Asian Journal of Accounting Research 7/1 (2022), 2–16.
- Alam, Md. Kausar - Miah, Muhammad Shahin. “Independence and Effectiveness of Sharī’a Supervisory Board of Islamic Banks: Evidence from an Emerging Economy.” Asian Review of Accounting 29/2 (2021), 173–191.
- Arsyianti, Laily Dwi. “The Role of Sharī’a Supervisory Board In Islamic Financial Industry (Case Study: Iran, Malaysia, And Indonesia).” Al-Infaq: Jurnal Ekonomi Islam 1/1 (2010), 61–79.
- Bin, Dali Nuradli Ridzwan Shah et al. “Performance of Sharī’a Compliance Companies in the Plantation Industry.” International Journal of Islamic and Middle Eastern Finance and Management 1/2 (2008), 166–178. https://doi.org/10.1108/17538390810881008
- Can, Gökberk. “Does Sharia Compliance Affect Financial Reporting Quality? An Evidence from Muslim Majority Countries.” International Journal of Islamic and Middle Eastern Finance and Management 14/1 (2021), 16–33. https://doi.org/doi.org/10.1108/IMEFM-04-2019-0149
- Djibrilla, Moctar Moussa et al. “The Challenges of Sharī’a Compliance in the Islamic Banking Practices: Whether Ibn-Al Qayyim’s Principles of Muamalat Be the Panacea?” The Journal of Muamalat and Islamic Finance Research 14/1 (2017), 73–85.
- Farooq, Omar - Alahkam, Amal. “Performance of Sharī’a-Compliant Firms and Non-Sharī’a-Compliant Firms in the MENA Region: Which Is Better?” Journal of Islamic Accounting and Business Research 7/4 (2016), 268–281. https://doi.org/10.1108/JIABR-10-2013-0039
- Hanif, Muhammad. “Sharīʿah-Compliance Ratings of the Islamic Financial Services Industry: A Quantitative Approach.” ISRA International Journal of Islamic Finance 10/2 (2018), 162–184. https://doi.org/10.1108/IJIF-10-2017-0038
- Haron, Razali et al. “Shari’ah Governance of Islamic Banks: The Role of Shari’ah Supervisory Board - A Bibliometric Analysis.” IIUM LAW JOURNAL 30/2 (2022), 129–157.
- Hassan, M Kabir et al. “Case Studies of Sharī’a Governance Practices in Bangladesh.” Doha, Qatar: HBKU, 2017.
- Hosen, Sharif et al. “Talent Management: An Escalating Strategic Focus in Bangladeshi Banking Industry.” The International Journal of Academic Research in Business and Social Sciences 8/1 (2018), 156–166.
- Hossain, Md Muhabbat. “Financial Statements of Banks Under Islamic Sharī’a: Status of Regulatory Compliance.” Thoughts on Economics 22/1 (2012), 57.
- Iqbal, Munawar - Molyneux, Philip. History and Growth of Islamic Banking and Finance. In: Thirty Years of Islamic Banking. London: Palgrave Macmillan, 2005.
- Islam, K. M. Anwarul et al. “The Impact of Sharī’a Supervisory Board and Sharī’a Audit Committee on Corporate Social Responsibility Adoption at Islamic Banks in Bangladesh.” Journal of Asian Finance, Economics and Business 8/3 (2021), 479–485.
- Islam, Md Robiul - Sadekin, Mohammad Shamsus. “Disclosure of Financial Reporting of Islamic Financial Institutes of Bangladesh: A Concept of Relevant Reviews.” International Journal of Economics Business and Accounting Research (IJEBAR) 4/3 (2020), 319–339.
- Islam, Shariful. “The ‘Flexible’ Sharī’a Practice of Islamic Banking in Bangladesh.” Dhaka Tribute (2020). https://archive.dhakatribune.com/business/banks/2017/10/30/flexible-sharī’a-practice-islamic-banking-bangladesh
- Jan, Sahıbzada Muhammad Wasım et al. “Regulatory Arrangement for Sharī’a Governance Practice of Islamic Banking Institutions in Pakistan: Issues and Challenges.” Hitit Ilahiyat Dergisi 20/1 (2021), 167–194.
- Karim, Md. Rezaul - Shetu, Samia Afrin. “Level of Sharī’a Compliance in the Operation of Islamic Banks in Bangladesh: An Empirical Study.” International Journal of Islamic Economics and Finance Studies 6/3 (2020), 293–317. https://doi.org/10.25272/ijisef.755679
- Kasim, Nawal et al. “Shari’ah Governance for Islamic Capital Market: A Step Forward.” International Journal of Educational Research 6/1 (2013), 1–14.
- Naser, Kamal et al. “Islamic Banking: A Study of Customer Satisfaction and Preferences in Jordan.” The International Journal of Bank Marketing 17/3 (1999), 135–151.
- Perves, Mohammad Masud. “Legal and Regulatory Framework in Islamic Banking System: Bangladesh Perspective.” European Journal of Business and Management 7/21 (2015).
- Rosly, Saiful Azhar - Bakar, Mohd Afandi Abu. “Performance of Islamic and Mainstream Banks in Malaysia.” International Journal of Social Economics 30/12 (2003), 1249–1265.
- Sholihin, Muhammad et al. “Sharī’a Compliance in Islamic Economics: A Bibliometric Analysis.” Malaysian Journal of Economic Studies 58/2 (2021), 315–337.
- Tabash, Mosab I. et al. “Ethical Legitimacy of Islamic Banks and Governance: Evidence from Bangladesh.” Journal of Public Affairs 22/2 (2022).
- Trakic, Adnan. “Shari’ah Compliance in Islamic Finance Contracts: The Malaysian Constitutional Dilemma.” Oxford University Commonwealth Law Journal 20/2 (2020), 289–309. https://doi.org/10.1080/14729342.2020.1812025
- Uddin, Ahm Ershad - Hira, Ayhan. “Bangladeş’te Kira Sertifikası (Sukuk) Uygulamasının İslam Hukuku Açısından Analizi” 10/20 (2023), 577–601. https://doi.org/10.17050/kafkasilahiyat.1250424
- Ullah, Hafij. “Shari’ah Compliance in Islamic Banking: An Empirical Study on Selected Islamic Banks in Bangladesh.” International Journal of Islamic and Middle Eastern Finance and Management 7/2 (2014), 182–199.
- Ullah, Md. Hafiz. “Shari’ah Compliance in Islamic Banking: An Empirical Study on Selected Islamic Banks in Bangladesh.” International Journal of Islamic and Middle Eastern Finance and Management 7/2 (2014), 182–199.
- Developments of Islamic Banking System in Bangladesh. Dhaka: Islamic Banking Wing Research Department Bangladesh Bank, September 2022. “Guidelines For Islamic Banking.” Dhaka: Bangladesh Bank, 2009.
- ICD-Refinitiv Islamic Finance Development Report 2022. Malaysia: IFDI, 2022.
- Islamic Corporation for The Development Of The Private Sectormember. Jeddah: The Islamic Development Bank (IsDB) GROUP, 2020. https://icd-ps.org/en/news/refinitiv-icd-2020-report-global-islamic-finance-assets-expected-to-hit-369-trillion-in-2024
Toplam 42 adet kaynakça vardır.
Ayrıntılar
| Birincil Dil | İngilizce |
|---|---|
| Konular | İslam Hukuku |
| Bölüm | Araştırma Yazıları |
| Yazarlar | |
| Erken Görünüm Tarihi | 28 Aralık 2023 |
| Yayımlanma Tarihi | 30 Aralık 2023 |
| Gönderilme Tarihi | 25 Temmuz 2023 |
| Kabul Tarihi | 26 Ekim 2023 |
| Yayımlandığı Sayı | Yıl 2023 Sayı: 17 |
