THE ROLE OF SHARI’AH BOARD IN ISLAMIC BANKS: COMPRATIVE STUDY BETWEEN OMAN AND MALAYSIA

Abdulrahman Mubarak Alnofli

doi:10.5281/zenodo.16759973

THE ROLE OF SHARI’AH BOARD IN ISLAMIC BANKS: COMPRATIVE STUDY BETWEEN OMAN AND MALAYSIA

Abstract

This study examines the role of the Shari’ah Supervisory Board, SSB, in Islamic banks through a comparative analysis between Oman and Malaysia. It highlights how both countries have institutionalized Shari’ah governance frameworks, yet exhibit notable differences in regulatory structures, board composition, and implementation. While Malaysia has a long-established centralized Shari’ah authority under Bank Negara Malaysia, (SAC), Oman has recently developed its High Shari’ah Supervisory Authority, (HSSA), under the Central Bank of Oman. The paper explores SSB appointment procedures, member qualifications, role, tenure, and transparency. Using regulatory documents and recent academic studies, the research evaluates the operational independence and effectiveness of SSBs in both jurisdictions. Findings reveal that although Malaysia's model is more prescriptive and mature, Oman's adherence to AAOIFI standards and the recent evolution of its HSSA represent considerable progress toward robust Shari’ah governance. The study recommends harmonization of disclosure practices, enhanced internal Shari’ah audit functions, and capacity building to ensure consistency and accountability in Shari’ah compliance.

Keywords

References

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Details

Primary Language

English

Subjects

Ecological Economics , Islamic Economy

Journal Section

Research Article

Authors

Abdulrahman Mubarak Alnofli ^*
Oman

Early Pub Date

August 7, 2025

Publication Date

August 30, 2025

Submission Date

June 10, 2025

Acceptance Date

July 17, 2025

Published in Issue

Year 2025 Volume: 11 Number: 32

DOI

https://doi.org/10.5281/zenodo.16759973

IZ

https://izlik.org/JA37CZ66TK

Cite

RIS / Bibtex

EndNote

Alnofli AM (August 1, 2025) THE ROLE OF SHARI’AH BOARD IN ISLAMIC BANKS: COMPRATIVE STUDY BETWEEN OMAN AND MALAYSIA. IJASOS- International E-journal of Advances in Social Sciences 11 32 45–53.