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Guidelines for developing the shariah‐compliant products and shariah governance for sustainable banks in Bangladesh      
Yazarlar
Mohammad Nazim Uddin
Mosharrof Hosen
Md. Abul Kalam Azad
 Hatıra GÜNERHAN Hatıra GÜNERHAN
Kafkas Üniversitesi, Türkiye
Nazamul Hoque
Mahi Uddin
Abdullahil Mamun
Özet
The industry of Islamic banking and finance (IBF) has undergone rapid expansion over the past forty years. However, it's imperative that this sector continues to evolve—making sure it aligns with contemporary market trends while staying abreast with modern financial practices. With financial offerings becoming more complex than ever before, adhering closely to shari'ah principles certainly poses a newer level of daunting challenges that need urgent attention in this burgeoning field. Moreover, the infamous products and current shari'ah governance of Islamic banks have been widely debated following the publication of an article titled “Terrible November for Islamic banks” in a reputable newspaper, Prothom Alo, 2022. In order to bridge the gap this study investigates drivers, enablers, and inhibitors of shari'ah-compliant products and the successful implementation of shari'ah governance for sustainable Islamic banks in Bangladesh. The qualitative data have been collected through in-depth personal interviews and focus group discussions with 41 well-known scholars. The analysis shows shari'ah board and research division are required to collaborate to develop shari'ah-compliant products as outlined in the Qur'an and Hadith. Additionally, a strong legislative framework for shari'ah-compliant product development and shari'ah governance is essential to promote a sustainable Islamic banking industry. Good shari'ah governance and compliance in a banking institution are significantly dependent on the good intentions of its board members and operational managers. The study offers a legal framework and core value-based banking that develops unique and fully shari'ah-compliant products to uphold sustainable development goals (SDGs). Important policy implications are discussed.
Anahtar Kelimeler
research units | Shari'ah aboard | Shari'ah governance | sustainable development growth (SDG)
Makale Türü Özgün Makale
Makale Alt Türü ESCI dergilerinde yayımlanan tam makale
Dergi Adı BUSINESS STRATEGY AND DEVELOPMENT
Dergi ISSN 2572-3170
Dergi Tarandığı Indeksler Scopus, Esci
Makale Dili İngilizce
Basım Tarihi 03-2024
Cilt No 7
Sayı 1
Sayfalar 1 / 18
Doi Numarası 10.1002/bsd2.309
Makale Linki http://dx.doi.org/10.1002/bsd2.309