Joni Tamkin Borhan

Contract (Akad) in Online Banking

Internet banking is the latest alternative used by the client to deal with the bank. In this way, the customer can surf the bank website without the hassles of queuing and waiting at the counter. This study will discuss about Internet banking services in terms of Islamic transaction. Where, study touches on contract applications found in banking services. The study found that Internet banking services is allowed in Islam and the contract valid even in the early emergence of Islams Internet technology sophistication yet exists.

Tadbir urus syariah dalam industri takaful di Malaysia: implikasi pasca Akta Perkhidmatan Kewangan Islam 2013

ABSTRAK Industri takaful telah bertapak kira-kira 30 tahun dalam sistem kewangan di Malaysia. Pelbagai perubahan telah dilakukan oleh pengawal selia iaitu Bank Negara Malaysia (BNM) bagi memastikan pengukuhan dan kestabilan industri takaful termasuklah berkaitan perundangan tadbir urus syariah. Makalah ini akan menghuraikan peruntukan perundangan Akta Bank Negara Malaysia 2009 (ABNM 2009) dan Akta Perkhidmatan Kewangan Islam 2013 (APKI 2013) dalam aspek tadbir urus syariah industri takaful di Malaysia. Selain itu, kajian ini turut menemu bual tujuh informan kajian yang terdiri Pegawai Bahagian Syariah dan Jawatankuasa Syariah Syarikat Pengendali Takaful (SPT) yang merupakan pihak yang terlibat secara langsung dalam proses tadbir urus syariah dalam industri takaful. Dapatan kajian menunjukkan bahawa peruntukan perundangan APKI 2013 memberi implikasi positif terhadap tadbir urus syariah industri takaful dengan peruntukan perundangan yang jelas dan terperinci seperti bidang kuasa dan peranan Majlis Penasihat Syariah BNM dan Jawatankuasa Syariah di peringkat dalaman SPT. Kata kunci: Tadbir urus syariah; takaful; perundangan; Majlis Penasihat Syariah BNM; Jawatankuasa Syariah SPT ABSTRACT Takaful industry was first introduced into Malaysia about 30 years ago when the first takaful operator was established to fulfil the need of the Muslim community to be protected based on the Islamic principles. Takaful operations are regulated and supervised by BNM and various changes have been made to ensure the strengthening and stability of the takaful industry including the shariah governance legislation. The aim of this paper is to analyze the legal provisions of Central Bank of Malaysia Act 2009 and Islamic Financial Services Act 2013 in terms of shariah governance in takaful industry at Malaysia. This study interviewed seven informants comprising officers from the Department of Shariah and Shariah Committee of Takaful Company (SPT), which have involved directly in the shariah governance process of takaful industry. The findings indicate that the legal provisions of Islamic Financial Services Act 2013 have given positive implication for shariah governance of takaful industry since the legal provisions are clear and detailed such as the role of the SAC of BNM and the SC of Takaful Operators. Keyword: Shariah governance; takaful, legislation; Shariah Advisory Council Central Bank of Malaysia; Shariah Committee Takaful Operator

Kepatuhan Zakat Oleh Syarikat Tersenarai Awam Di Malaysia = Zakat Compliance among Public Listed Companies in Malaysia

The main purpose of this study is to measure zakat compliance among Public Listed Companies (PLCs) in Malaysia. The study evaluates the zakatability status of shariah- compliant securities companies by Securities Commission’s Shariah Advisory Council including main board and ACE Market. The information obtained from the latest annual report available and 811 annual reports were examined out of 817 syariah-compliant securities companies. Firstly, this study identifies companies with majority Muslim shareholders. Based on the largest shareholders reports, 118 companies are treated as owned by Muslim. Secondly, this study identifies zakat payment from the companies for 6 year period i.e. 2009 – 2014. The study finds 17 companies have zakat disclosure in their financial reporting for the period of study. The number of zakat paying companies keeps on increasing from 9 companies (for the year 2009) to 16 companies (for the year 2014). This study discovers the compliance rate for zakat payment among PLCs is 14%. Thus, comprehensive strategies need to be carried out especially by zakat institutions and other pertinent parties in pursuance of maximizing zakat potential especially by business entities.