Determine the Factors Affecting the Quality of Internal Shariah Audits: A Review Paper on Islamic Banking in Libya

Adel K. Alghamati, S. M. Ferdous Azam and Ali Khatibi

Journal of Business and Social Review in Emerging Economies, 2024, vol. 10, issue 4, 467-476

Abstract: Purpose: The present research will offer a theoretical framework discussing the concept of internal Shariah audit quality and identifying the factors that affect it. The study aims to examine these elements and their relationship with the internal Shariah audit quality in Islamic banking in Libya.Design/Methodology/ This study will employ qualitative research methods, gathering data through interviews with employees of Libyan Islamic banks using semi-structured questions, grounded theory, and thematic analysis. This study aims to generate in-depth insights into audit quality and develop a theoretical framework to enhance the quality of internal Shariah audits.Findings: The findings provide a deep understanding of audit quality and contribute to an empirical framework for the quality of internal Shariah audits. The author expects that several factors may influence the quality of an internal Shariah audit, including the auditor's competency, independence, and level of compliance with Shariah standards for Islamic banks and internal audits. Including the Shariah audit report and certain policies relating to Libyan Islamic banks. Despite the crucial significance of internal Shariah audit quality in maintaining a Shariah-compliant environment inside Islamic institutions. Nevertheless, the existing literature is insufficient, and inadequate research has been accomplished in this field.Implications/Originality/Value: The study will produce novel insights and assist researchers in enhancing their understanding of the elements that affect the quality of Shariah audits in Libyan Islamic banks. Furthermore, the results of this study will significantly enhance the management of Islamic banks and regulators by revealing the elements that affect the quality of internal Shariah audit.& & & & & & & & & &

Keywords: Internal Shariah Audit Quality; Shariah Compliance; Shariah Governance; Islamic Financial Institutions; Islamic Banks (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:src:jbsree:v:10:y:2024:i:4:p:467-476

DOI: 10.26710/jbsee.v10i4.3154

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