Bangla Live Chat || Shariah Board: The Gateway to Shariah Governance By Mufti Yousuf Sultan || EP01

Bangla Live Chat || Shariah Board: The Gateway to Shariah Governance By Mufti Yousuf Sultan || EP01

শরীয়াহ বোর্ড, শরীয়াহ গভর্নেন্স, ইসলামী আর্থিক প্রতিষ্ঠানের মালিকপক্ষ, রেগুলেটরসহ বিভিন্ন প্রসঙ্গ নিয়ে কথা হয়েছে।

A Bangla Question and Answer to know more about Shariah Board and Shariah Governance.

The following questions were asked and answered:

1. What is Shariah Governance?

2. What are the roles and responsibilities of the SSB?

3. Is it possible for the SSB to perform these roles and responsibilities if they are not adequately empowered by the regulations and supported by the regulators?

4. Some criticises the competency of the SSB members. How to improve the competency of the SSB members in the Bangladesh context where the senior people are reluctant to attend courses or trainings?

5. Some argues that the honorarium received by the SSB members is very low, which does not justify the amount of time required in properly scrutinising the documents. Whereas, some says that the SSB members does not contribute, hence they don’t deserve any high honorarium. In your opinion, which argument is right and how to come out from this situation?

6. What are the mechanisms that can be put in place in ensuring competency of the SSB members and their proper contribution?

7. Do you think that the public has over expectation from the SSB members, which does not reflect the reality of the responsibilities that the SSB members bear, hence unfair to the SSB members?

8. What do you think about the presence of bank’s management representatives like the CEO and board members sitting in the SSB? Do you think that it positively contributes or has negative consequences?

9. As you have some level of exposure to SSB members in Bangladesh, Malaysia and few other countries, what are the differences you see between the SSB members in these countries? What are the positives to be learned from each of these?

10. Which one is more important in achieving Shariah compliance: strong role of SSB or the support of the owners of the IFIs? Is it possible to do the former in absence of the latter?

This initiative will help to know more about Islamic finance and Islamic Banking.

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