Sharia Board of Islamic Banks and the Attitude of Fatwa Shopping

Abstract

Fatwa shopping attitude is a process of searching Sharia opinions from different Sharia scholars for suitable and convenient Fatwa to suit the need of bank managers (BMs) even at the minimum level of Sharia compliance. This research was conducted to identify the Sharia Board Members (SBMs) and the new attitude of Fatwa shopping within the supervisory and advisory mandate. The objectives of this study are to identify the mandate of SBMs of IBs and to review the attitude of Fatwa shopping within the advisory and supervisory mandate. Data was collected by way of documentary review method of existing literatures, narrative analysis as well as conceptual approach of analysis. The study gathered that both SBMs and BMs have different objectives when assessing new products which create disagreement of objectives at the strategic level. The study concluded that the leniency in issuing Fatwa ruling might lead SBMs to exercise the attitude of Fatwa shopping or easily compromise toward BMs objectives. A situation of this kind has resulted many challenges toward Sharia complaint, then the products approved by SBMs which have been alleged as non-compliant to Sharia. The findings of this paper can be recommended for regulators, policy makers of Islamic banks and the body of knowledge of researchers for positive use of conceptualizing the current system to suit core component of Islamic Fatwa framework (IFF) in which the attitude of Fatwa shopping would be matter of history in near future.

Chitosan-assisted synthesis of 1D g-C3N4 nanorods for enhanced photocatalysis

“…Chitosan is composed of randomly linked deacetylated and acetylated units and has been successfully used to modulate the topography of nanostructures. 24 The resultant 1D g-C 3 N 4 nanorods show a significantly increased surface area of B65.4 m 2 g À1 , which is almost 6.7 times larger than that of bulk g-C 3 N 4 (9.8 m 2 g À1 ). Furthermore, these g-C 3 N 4 nanorods exhibit enhanced visible light harvesting compared to their bulk counterpart.…”