Date of Award

2010

Thesis Type

Masters

Document Type

Dissertation

Divisions

Academy of Islamic Studies

Department

Department of Shariah, Economics and Governance (formally known as Dept of Syariah & Economics)

Institution

Universiti Malaya

Abstract

The Syariah Advisory Council (SAC) is an advisory board established to provide an Islamic views on products offered by the banks. SAC supports these banks by ensuring that products and services provided are complied with the Islamic Law. The SAC has an important functions related to the Islamic mucamalat tenets. These functions include two aspects which are the aspect of Islamic legal setting or fatwa, and aspect of field monitoring on the implementation and application of fatwa that have been enforced. These aspects are rules by special committee, the committee for fatwa and research and the committee of implementation and application. The focus issue in this study is the functions of each committee in particular the main instruments that determine the ijtihad of SAC. This study also discusses the application of the theory as practiced in Malaysia. The subjects for this study were Bank Muamalat Malaysia Berhad (BMMB) and RHB Islamic Bank (RHBIB). Qualitative methods with data collection through interviewing techniques and document reviews applied in this study, particularly in obtaining data on the SAC theory discussion. All the data were analysed using a descriptive technique. In conclusion, the application of the SAC in Malaysia is basically the same to the theory that has been discussed by many experts on this field. However, slight differences exist in the organisational structure.

Initial

khm

Additional Information

Dissertation (M.A.) – Academy of Islamic Studies, Universiti Malaya, 2010.

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