Critical Muslim Intellectuals’ discourse and the issue of ‘Interest’ (<i>ribā</i>): Implications for Islamic accounting and banking

Kamla, Rania; Alsoufi, Rana

doi:10.1016/j.accfor.2015.02.002

Cited by 49 publications

(41 citation statements)

References 26 publications

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“…Islamic governance/(SSB) seeks to ensure that all practices and activities of banks (e.g. products, instruments, operations, practices, and management) are in compliance with Sharia principles and rules at all times, especially with respect to RIBA (interest) and speculative behaviour (Farook et al, 2011;Kamla & Alsoufi, 2015;Riaz, Burton, & Monk, 2017;Safieddine, 2009). Theoretically, the unique problems faced by Islamic financial institutions like "Mudarabah" (profit-sharing) can increase adverse selection and moral hazard problems.…”

Section: Islamic Governance/ssb and Risk Disclosurementioning

confidence: 99%

The impact of multi-layer governance on bank risk disclosure in emerging markets: the case of Middle East and North Africa

et al. 2019

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This study examines the impact of multi-layer governance mechanisms on the level of bank risk disclosure. Using a large dataset from 14 Middle East and North Africa (MENA) countries over a period of 8 years, our findings are threefold. First, our results suggest that the presence of a Sharia supervisory board is positively associated with the level of risk disclosure. Second and at the bank-level, we find that ownership structures have a positive effect on the level of risk disclosure. At the country-level, our evidence suggests that control of corruption has a positive effect on the level of bank risk disclosure. Our study is, therefore, a major departure from much of the existing accounting literature that offers new crucial insights that show that firms' disclosure choices are not mainly shaped by firm-level (internal) governance arrangements, but also country-level (external) governance and religious factors. Our findings have important implications for corporate boards, investors, regulatory authorities, standards-setters and governments relating to the development, implementation and enforcement of corporate and national governance standards.

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Section: Islamic Governance/ssb and Risk Disclosurementioning

confidence: 99%

The impact of multi-layer governance on bank risk disclosure in emerging markets: the case of Middle East and North Africa

et al. 2019

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“…An embryonic Islamic finance industry first emerged in the 1970s, building on theoretical advances in "Islamic economics" from the 1950s (Kamla and Alsoufi, 2015). Through the development of philosophies relating lending activities to spiritual principles, Islamic banks began to permeate the market in both Muslim and non-Muslim countries.…”

Section: Introductionmentioning

confidence: 99%

Perceptions on the accessibility of Islamic banking in the UK—Challenges, opportunities and divergence in opinion

2017

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“…Hence, the transparency of IB in Bingöl city is to be provided that people know that their investments are not put in Non-Halal investments. (Chong & Liu , 2009) Issues of poverty and environmental tragedies are not included in the Muslim World economic models and calculating tax (zakat) as stated in study of Kamla & Alsoufi( 2015), "halal" products and design Profit-Loss sharing contracts are not well studied at universities in Turkey. Not creating same profit levels of conventional banking and finance counterparts is the main problem of IB and thus they cannot compete with conventional banking system.…”

Section: Discussion Limitation and Future Research Directionsmentioning

confidence: 99%

Interest- free banking: reasons for choosing Islamic banking in Bingol city

Aslan¹

2017

Pressacademia

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Participation banking (Interest Free Banking)/Islamic Banking (IB) is a current topic in Turkey and in many Muslim countries. In Hammurabi's law and Babil's documents in 1955-1913 BC, interest and usury were forbidden to protect the community. Participation banking is explained in this study and compared with interest orienting conventional banking system. A questionnaire method was used as a data collection tool in Bingöl city in East of Turkey in 2015. 500 customers of Turkey Finance Bank in Bingöl were surveyed and obtained data was analyzed through IBM SPSS 20 Software. Frequency-analysis method, descriptive statistics and ANOVA methods were used to analyze collected data. According to these findings, it can be said that participating banking is usually preferred among 20-40 age group. Also, it is stated that participants use participating banking less than 6 years. The reason why they select participation banking is as; close relationship with branch personnel, leading religious sensibility, friendly and helpful personnel, image and popularity of banking, Islamic Audit Commission of bank. As the age of participants increase, they have more positive thoughts on participation banking. Moreover, there is a high suspiciousness that IB is applied as conventional banking, making it also Haram.

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Critical Muslim Intellectuals’ discourse and the issue of ‘Interest’ (ribā): Implications for Islamic accounting and banking

Cited by 49 publications

References 26 publications

The impact of multi-layer governance on bank risk disclosure in emerging markets: the case of Middle East and North Africa

The impact of multi-layer governance on bank risk disclosure in emerging markets: the case of Middle East and North Africa

Perceptions on the accessibility of Islamic banking in the UK—Challenges, opportunities and divergence in opinion

Interest- free banking: reasons for choosing Islamic banking in Bingol city

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