Hafiza Harun
Major profession in Shariah at Islamic Financial Institution in Malaysia.
The area of PhD topic is on Shariah Governance
Supervisors: DR NURDIANAWATI IRWANI ABDULLAH
The area of PhD topic is on Shariah Governance
Supervisors: DR NURDIANAWATI IRWANI ABDULLAH
less
Uploads
Roles in Mitigating Shariah Non-Compliance
Risks for Malaysian Takaful Operators (TOs)
By
Hafiza Harun
Rusni Hassan
Abstract
Highly effective organization is associated with the internal strength which
refers to effective communication. Malaysian Islamic Financial Institutions
(IFIs) are governed by the Shariah Governance Framework (SGF) which
serves as the guiding route in achieving a sound system and overall
confinement to Shariah compliance requirements. Thus, it is vital for IFIs
including Takaful Operators to ensure all the organizational organs playing
their oversight, accountability and responsibility including communication
related roles and applicable scopes effectively. Communication aspect is
worthy important in improving the implementation gaps of Shariah
governance practices which are highlighted by researchers. This includes the
mitigation of Shariah non-compliance occurrences within each of IFI.
Therefore, this study empirically examines the organizational communication
aspects in Malaysian Takaful Operator (TO). A set of questionnaires is
distributed to a selected group of staff in one TO In Malaysia to assess their
thoughts on the subject matter. The study finds the overall organizational
communication is effective thus helps the institution to mitigate risks for IFIs
especially Shariah non-compliance risk.
to the theoretical analysis and viable recommendation for further
enhancement of the Shariah Governance Framework by all management
teams in the Malaysian Islamic Financial Institutions. In complementing this
study, a set of questionnaires is distributed to some selected group of staff
in a Takaful Operator in Malaysia to gauge their understanding of the
subject matter.
The effective and efficient organization needs to be embedded with a
strong rapport between top management and another level of
subordinates. This synergy simultaneously builds a robust governance for
the organization, especially in Islamic finance area.
Roles in Mitigating Shariah Non-Compliance
Risks for Malaysian Takaful Operators (TOs)
By
Hafiza Harun
Rusni Hassan
Abstract
Highly effective organization is associated with the internal strength which
refers to effective communication. Malaysian Islamic Financial Institutions
(IFIs) are governed by the Shariah Governance Framework (SGF) which
serves as the guiding route in achieving a sound system and overall
confinement to Shariah compliance requirements. Thus, it is vital for IFIs
including Takaful Operators to ensure all the organizational organs playing
their oversight, accountability and responsibility including communication
related roles and applicable scopes effectively. Communication aspect is
worthy important in improving the implementation gaps of Shariah
governance practices which are highlighted by researchers. This includes the
mitigation of Shariah non-compliance occurrences within each of IFI.
Therefore, this study empirically examines the organizational communication
aspects in Malaysian Takaful Operator (TO). A set of questionnaires is
distributed to a selected group of staff in one TO In Malaysia to assess their
thoughts on the subject matter. The study finds the overall organizational
communication is effective thus helps the institution to mitigate risks for IFIs
especially Shariah non-compliance risk.
to the theoretical analysis and viable recommendation for further
enhancement of the Shariah Governance Framework by all management
teams in the Malaysian Islamic Financial Institutions. In complementing this
study, a set of questionnaires is distributed to some selected group of staff
in a Takaful Operator in Malaysia to gauge their understanding of the
subject matter.
The effective and efficient organization needs to be embedded with a
strong rapport between top management and another level of
subordinates. This synergy simultaneously builds a robust governance for
the organization, especially in Islamic finance area.