Research Article
Year 2025,
Volume: 11 Issue: 32, 45 - 53
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.
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There are 33 citations in total.
Details
| Primary Language | English |
|---|---|
| Subjects | Ecological Economics, Islamic Economy |
| Journal Section | Articles |
| Authors | |
| Early Pub Date | August 7, 2025 |
| Publication Date | |
| Submission Date | June 10, 2025 |
| Acceptance Date | July 17, 2025 |
| Published in Issue | Year 2025Volume: 11 Issue: 32 |
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