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El-Halaby, Sherif; Hussainey, Khaled

Determinants of compliance with AAOIFI standards by Islamic banks

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  • Medientyp: E-Artikel
  • Titel: Determinants of compliance with AAOIFI standards by Islamic banks
  • Beteiligte: El-Halaby, Sherif; Hussainey, Khaled
  • Erschienen: Emerald, 2016
  • Erschienen in: International Journal of Islamic and Middle Eastern Finance and Management
  • Sprache: Englisch
  • DOI: 10.1108/imefm-06-2015-0074
  • ISSN: 1753-8394
  • Entstehung:
  • Anmerkungen:
  • Beschreibung: <jats:sec><jats:title content-type="abstract-subheading">Purpose</jats:title><jats:p>The authors explore the level and determinants of compliance with Accounting and Auditing Organization for Islamic Financial Institution’s (AAOIFI) financial and governance standards by Islamic banks (IBs).</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title><jats:p>The sample consists of 43 IBs across eight countries. The authors use ordinary least squares regression analyses to examine the impact of bank-specific characteristics and corporate governance (CG) mechanisms concerned with Board of Directors (BOD) and Sharia Supervisory Board (SSB) on the levels of compliance with AAOIFI standards.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Findings</jats:title><jats:p>The paper finds that the average compliance level based on AAOIFI standards concerning the SSB is 68 per cent; corporate social responsibility (CSR) is 27 per cent; and presentation of financial statements (FSs) is 73 per cent. The aggregate disclosure based on the three indices is 56 per cent. The analysis also shows that size, existing Sharia-auditing department, age and CG of SSB are the main determinants of compliance levels.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Originality/value</jats:title><jats:p>The determinants of compliance with AAOIFI standards for IBs around the world have not been explored before, and therefore, this paper is the first of its kind to this issue.</jats:p></jats:sec>