Disclosure of Shariah compliance by Malaysian takaful companies

Journal of Islamic Accounting and Business Research

Volumn 3, Issue 1, 2012, Pages 20-38

  Aziah Abu Kasim, Nor ^a  

^a UNIVERSITY PUTRA MALAYSIA   (Malaysia)

Author keywords

Disclosure; Governance; Islamic identity; Malaysia; Shariah compliance; Takaful

Indexed keywords

EID: 84873021268     PISSN: 17590817     EISSN: 17590825     Source Type: Journal    
DOI: 10.1108/17590811211216041     Document Type: Article

References (35)

1. Ansari, O.M. (2008), “Audit and Sharia compliance: issues in Islamic banking and finance”, available at: www.icmap.com.pk/ppt/sem_asc_khi.pps (accessed 12 November).
2. Bank Negara Malaysia (2005), Takaful Annual Report, Central Bank of Malaysia, Kuala Lumpur.
3. Bank Negara Malaysia (2007), Shariah Resolutions in Islamic Finance, Central Bank of Malaysia, Kuala Lumpur.
4. Bowman, D. (2008), Takaful Industry to Top $15billion in 10 Years, available at: www.arabianbusiness.com (accessed 15 January 2009).
5. CIMB Aviva Takaful Bhd Annual Report (2009), available at: www.cimbaviva.com/library/pdf/CATB_FS/Statutory%20Financial%20Statements%2031%20December%202009_CATB.pdf (accessed 9 March 2010).
6. Connors, J. (1988), “Towards a system of Islamic finance in Malaysia”, in Mallat, C. (Ed.), Islamic Law and Finance, Graham and Trotman, London, pp. 57-67.
7. Dawood, M. (2008), “Ensuring the quality of Shariah advice”, paper presented at MEFX, Dubai Financial Center, Dubai,1-3 June.
8. DiMaggio, P.J. and Powell, W. (1991), “The iron cage revisited: institutional isomorphism and collective rationality in organisational fields”, in Powell, W.W. and DiMaggio, P.J. (Eds), The New Institutionalism in Organizational Analysis, University of Chicago Press, Chicago, IL, pp. 63-82.
9. Etiqa Takaful Berhad Annual Report (2008), available at: www.maybank.com.my/files/EtiqaTakaful%20Bhd%20%20June2008%20(Eng).pdf (accessed 9 March 2011).
10. Francis, J.R. and Yu, M.D. (2007), “The effect of big four office size on audit quality”, working paper, University of Missouri, Columbia, available at: http://leeds-faculty.colorado.edu/gunny/WorkshopSeries/Paper0708/Francis.pdf (accessed 12 July 2011).
11. Grais, W. and Pellegrini, M. (2006), “Corporate governance and Shariah compliance in institutions offering Islamic financial services”, Working Paper lsqb4054], World Bank, Washington, DC, November.
12. Halim, N. (2008), “Takaful supplement, targeting double-digit growth”, MIF Monthly 2008 Supplement Series.
13. Hamid, S., Craig, R. and Clarke, F. (1993), “Religion: a confounding cultural element in the international harmonization of accounting?”, Abacus, Vol. 29 No. 2, pp. 131-48.
14. Haniffa, R. and Hudaib, M. (2007), “Exploring the ethical identity of Islamic banks via communication in annual reports”, Journal of Business Ethics, Vol. 76, pp. 97-116.
15. Hess, D. (2007), “Social reporting and new governance regulation: the prospects of achieving corporate governance accountability through transparency”, Business Ethics Quarterly, Vol. 17 No. 3, pp. 453-76.
16. Hong Leong Tokio Marine Takaful Bhd Annual Report (2009), available at: www.hltmt.com.my/images/AuditedFinancialStatements2009.pdf (accessed 16 February 2011).
17. HSBC Amanah Takaful (Malaysia) Sdn Bhd Annual Reports (2008), Kuala Lumpur.
18. Hussainey, K. (2009), “The impact of audit quality on earnings predictability”, Managerial Auditing Journal, Vol. 24 No. 4, pp. 340-51.
19. Ishak, B. (2007), “Establishing a robust, legal and regulatory framework for Takaful”, paper presented at Financial Regulators Forum on Islamic Finance, 29 March, Kuala Lumpur, Malaysia.
20. Maali, B., Casson, P. and Napier, C. (2006), “Social reporting by Islamic banks”, Abacus, Vol. 42 No. 2, pp. 266-89.
21. Malaysian Takaful Association (2008), “MIF monthly 2008 supplement series”, Takaful Supplement, MTA's Roles and Functions.
22. Meyer, J.W. and Rowan, B. (1977), “Institutionalized organizations: formal structures as myth and ceremony”, American Journal of Sociology, Vol. 83, pp. 340-63.
23. Parker, M. (2006), “Arab news Takaful growth in Malaysia fails to take off”, Arab News, available at: www.arabnews.com/?page=6§ion=0&article=78228&d=21&m=8&y=2006/ (accessed 15 December 2008).
24. Prudential BSN Takaful Berhad Annual Report (2009), available at: www.prubsn.com.my/accounts/prubsn/uploads/downloads/FINANCIAL%20STATEMENT%20FYE%2031%20DECEMBER%202009.pdf (accessed 9 March 2011).
25. Scott, W.R. (2001), Institutions and Organizations, 2nd ed., Sage, Thousand Oaks, CA.
26. Syarikat Takaful Malaysia Bhd Annual Report (2008), available at: www.takaful-malaysia.com.my/corporate/aboutus/Financial%20Reports/Annual%20Report%202008/stmb_ar08_final_low%20res.pdf (accessed 9 March 2011).
27. Takaful Act (1984), Malaysia, available at: www.pytheas.net/docs/malaysia/TakafulAct1984.pdf (accessed 15 July 2008).
28. Tomkins, C. and Abdul-Karim, R.F. (2005), “Shari'ah and its implications for Islamic financial analysis: an opportunity to study interactions among society, organization and accounting”, available at: www.financeinislam.com.article/1_39/1/420 (accessed 15 January 2009).
29. Yap, L.K. (2007), “Essential elements of effective supervision of Takaful operators”, paper presented at Financial Regulators Forum on Islamic Finance, 29 March, Kuala Lumpur, Malaysia.
30. Alhabshi, S.M. (2006), “Financial reporting of Islamic financial institutions: issues and challenges for transparency, disclosure and governance”, paper presented at XVII World Congress of Accountants, 16 November, Istanbul, Turkey.
31. Bank Negara Malaysia (2004a), BNM GPS/1 Guidelines on the Governance of Shariah Committee, Central Bank of Malaysia, Kuala Lumpur.
32. Bank Negara Malaysia (2004b), JPIT/GPT 6 Guidelines on Financial Statements for Takaful Operators, Central Bank of Malaysia, Kuala Lumpur.
33. Hameed, S. (2001), “Islamic accounting – accounting for new millennium?”, paper presented at the Asia-Pacific Conference on Accounting I, 2 October, Kota Bharu, Kelantan, Malaysia.
34. MNRB Holding Berhad Annual Report (2009), available at: www.mnrb.com.my/investorINFO/annual.asp (accessed 1 March 2011).
35. Tati, A. (2007), “The role of pure retakaful operators versus conventional reinsurers: envisioning the future”, paper presented at International Takaful Summit, 2 November, London, UK.