Document

The impact of shariah auditing requirements on the service quality of Islamic banks in the Sultanate of Oman.

Identifier
DOI: 10.4197/Islec.33-1.8
Source
Journal of King Abdulaziz University, Islamic Economics. v. 33, 1, p. 101-116
Contributors
Country
Saudi Arabia.
Publisher
King Abdulaziz University Scientific Publishing Center.
Gregorian
2020-01-01
Language
English
English abstract
This paper investigates the availability of Shariah auditing requirements in Islamic banks in the Sultanate of Oman. This entails investigating a set of regulatory arrangements through which we ensure Islamic financial institutions conform to Shariah principles. Moreover, we study their impact on the quality of service of Islamic banks in Oman. The researchers used a questionnaire to collect the data from Islamic banks (two full-fledged Islamic banks and six Islamic windows of conventional banks). Based on 71 responses, the quantitative data was evaluated and ranked in terms of mean score, standard deviation, and multiple regressions. The results of this study indicate that Shariah auditing requires highly trained and skilled manpower. Shariah auditing in Oman faces many challenges and problems. The most important of these are: lack of adequately qualified Shariah auditors, lack of commitment from the Islamic banks to the key elements of Shariah governance framework, and a legislative gap and shortage in educational outputs in Shariah auditing.
ISSN
1018-7383
Category
Journal articles

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