Research and Publication Trends on Shariah Non-Compliance (SNC) Risks and Events from 2010-2022

Abstract

Managing Shariah non-compliance (SNC) events is important for Muslims who manage businesses, especially for Islamic Financial Institutions (IFIs), to maintain justice and fairness in particular transactions as well as to avoid operational losses. The objective of this study is to explore the research and publication trends on SNC risks and events from 2010 to 2022. Descriptive research based on document analysis of prior studies and literature on SNC events obtained from online journals has been used as the approach for data collection in this study. Journals and publications are obtained via a wide variety of channels, including Google Scholar, Science Direct, and ResearchGate.com. There are a total of 80 articles relevant to this topic that were gathered and reviewed for the period from 2010 to 2022. This study looked at a variety of different characteristics, some of which are authorship patterns, the number of articles that have been published, research design, geographical affiliation, the subject of the article, and the gender of the author. The overarching conclusion drawn from this research is that the vast majority of previous research on SNC focused primarily on investigating issues pertaining to firm performance, investment and risk management, nonetheless very limited study has focused on the rectification process and procedures to solve the SNC events.