This paper discusses on the development of corporate governance in selected countries, systems of corporate governance adopted, convergence of corporate governance practices towards internationally accepted practices and initiatives undertaken to ensure effective corporate governance practices....

Corporate governance is a function of governing a corporation. Good Corporate governance promotes fairness, openness, and transparency in its responsibilities to stakeholders Good corporate governance practices facilitates economic efficiency by focusing on value-enhancing activities and aids...

The Central Bank of Malaysia (Bank Negara Malaysia or BNM) introduced the Shariah Governance Framework (SGF) in 2010 and required all Islamic Financial Institutions (IFIs) to fully implement in 2011. The objective is to provide a proper regulatory framework for IFIs to function within the...

Although not a near equivalent of conventional banking in terms of size, the global Islamic banking industry has grown at a very rapid pace in the last three decades. Malaysia has been at the forefront of this development since early 1980s and has earned a reputation of a global hub for Islamic...

Shariah committee independence has been highlighted by the Shariah Governance Framework as an important credential for an effective functioning of Shariah committees. This study examined Shariah committee independence of local IFIs as perceived by the shariah committee members of the IFIs. The...

An effective system of rules, practices and processes by which Islamic Financial Institutions (IFIs) are directed and controlled is important to ensure their business operations are Shariah compliant, which has implications on their reputation, Shariah Governance and the future growth of the...

This paper examines accounting issues relating to Musharakah Mutanaqisah (MM) home financing from the perspective of Malaysian Islamic banks (IBs). Data for this study were obtained by collecting the relevant MM financing documents, conducting interviews with regulators and academics, and...

Tragedy involves emotional learning as it captures accounts in different ways and happens as a remarkable scene to characterize the so-called auditory alarms. Drawing on historiography study, this paper explores the RMS Titanic with a view from Three-Alarms Theory (TAT). It discusses True Alarm,...

This paper reviews selected major financial scandals. The analysis covers international cases like BCCI, Credit Lyonnais Bank, Barrings Bank, Daiwa and Sumitomo, and local cases like scandals at Bank Rakyat, Bumiputra Malaysia Finance, Pan Electric Industries, Deposit Taking Cooperatives, Bank...

The aim of this paper is to examine the impact to auditor independence if the mandate to appoint auditor to regulatory body and exist auditor rotation scheme. This study sampled Malaysian auditors, loan officers and senior managers of public listed companies, and questionnaire and interview...