New enhancement of Shariah governance in Islamic finance and Halal sectors in Malaysia: bridging a gap towards integration

Nurul Aini Muhamed, Muhammad Iqmal Hisha Kamaruddin and Nathasa Mazna Ramli

International Journal of Business Excellence, 2024, vol. 33, issue 1, 1-20

Abstract: This study examines the similarities and differences between the Shariah Governance Policy Document (SGPD 2019) and Malaysia Halal Management System (MHMS 2020) on Shariah governance structure and functions and requirements for Shariah/Halal committee. This study finds that SGPD 2019 is more comprehensive compared to MHMS 2020. Although both SGPD 2019 and MHMS 2020 emphasise Shariah governance in their policy documents and guidelines, however SGPD 2019 has specific indication Shariah governance compared to MHMS 2020. In addition, SGPD 2019 also has an extensive requirement for the Shariah committee as compared to the internal Halal committee by MHMS 2020. This study provides a comparison of Shariah governance that would be beneficial to authorities in the Islamic finance and Halal sectors to strengthen the industry. This study is exclusively calibrating the integration of Shariah governance guidelines from different authorities to be benefited in both Islamic finance and Halal sectors practices.

Keywords: Shariah governance; Islamic finance; Halal; Malaysia. (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=139110 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbexc:v:33:y:2024:i:1:p:1-20

Access Statistics for this article

More articles in International Journal of Business Excellence from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().