Expectation vs Reality: A Study on the Perceptions of Shariah Committee on the Shariah Audit Practice in Malaysian Takaful Industry
Jangkaan vs Realiti: Kajian Mengenai Persepsi Jawatankuasa Syariah terhadap Amalan Audit Syariah dalam Industri Takaful Malaysia
Keywords:
Shariah Audit, Takaful, Gap Analysis, Shariah CommitteeAbstract
The growth in the development of Islamic financial system is contributing to the positive demands of the goods and services provided by Islamic financial institutions. Some of them could, however, have overlooked certain factors that could influence the enforcement of goods and services with Shariah. The occurrence of a risk of shariah non-compliance may adversely affect the credibility of Islamic finance and the trust among market participants. This is where shariah audit function play an important role in ensuring the good internal control for shariah compliance. Shariah Committee also as one of the components of Shariah governance have to be responsible for every Shariah matters in IFI. The aim of this study is to examine the existence of the gap between the expectations of Shariah Committee and the actual practice of shariah audit. Twenty one (21) semi-structured interviews were conducted involving selected auditors and Shariah committee members from each of Takaful Operators. Thematic analyses were adopted to analyse the data. It can be deduced that there is a gap between the expectations of Shariah Committee and the actual practice of shariah audit which provide the area of improvement in the future.
Pertumbuhan dalam pembangunan sistem kewangan Islam menyumbang kepada permintaan yang positif bagi produk dan perkhidmatan yang disediakan oleh institusi kewangan Islam. Walau bagaimanapun, faktor tertentu yang boleh mempengaruhi penguatkuasaan produk dan perkhidmatan patuh syariah tidak diberi perhatian sepenuhnya oleh beberapa pihak. Oleh itu, terdapat kejadian dimana telah berlakunya risiko ketidakpatuhan syariah yang boleh menjejaskan kredibiliti kewangan Islam dan kepercayaan di kalangan pelanggan. Maka, di sinilah fungsi audit syariah memainkan peranan penting dalam memastikan kawalan dalaman yang baik untuk pematuhan syariah. Jawatankuasa Syariah yang dilantik juga merupakan salah satu komponen tadbir urus Syariah perlu bertanggungjawab ke atas setiap perkara Syariah di Institusi kewangan Islam itu sendiri. Objektif utama kajian ini adalah untuk mengkaji wujudnya jurang antara jangkaan Jawatankuasa Syariah dan amalan sebenar audit syariah. Dua puluh satu (21) temu bual separa berstruktur telah dijalankan melibatkan juruaudit terpilih dan ahli jawatankuasa Syariah daripada setiap Pengendali Takaful. Dayta Analisis tematik telah digunakan untuk menganalisis data. Melalui hasil kajian, ia dapat disimpulkan bahawa terdapat jurang antara jangkaan Jawatankuasa Syariah dan amalan sebenar audit syariah yang menyediakan ruang penambahbaikan pada masa hadapan.
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