The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues
In Malaysia, the appointment of members to the Shariah Advisory Council (SAC) of the Central Bank of Malaysia (CBM) is prescribed by the Central Bank of Malaysia Act 2009 (Act 701).The Act stipulates the provisions pertaining to the eligible persons to be appointed to the SAC, procedures, terms and...
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| Format: | Article |
| Language: | English |
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Universiti Utara Malaysia Press
2017
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| Online Access: | https://repo.uum.edu.my/id/eprint/24954/1/UUMJLS%208%20167-181%202017.pdf |
| _version_ | 1803628840053899264 |
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| author | Hussain, Mohammad Azam Hassan, Rusni Azhar, Alias Hasan, Aznan |
| author_facet | Hussain, Mohammad Azam Hassan, Rusni Azhar, Alias Hasan, Aznan |
| author_sort | Hussain, Mohammad Azam |
| collection | UUM |
| description | In Malaysia, the appointment of members to the Shariah Advisory Council (SAC) of the Central Bank of Malaysia (CBM) is prescribed by the Central Bank of Malaysia Act 2009 (Act 701).The Act stipulates the provisions pertaining to the eligible persons to be appointed to the SAC, procedures, terms and conditions of appointment and also remuneration and allowances for the members of the SAC. In this regard, the question arises whether the prescribed provisions are sufficient to regulate the appointment of members to the SAC and free from any shortcomings. Hence, this study sought to analyse the existing legislations governing the appointment of
members to the SAC and to analyse the legal issues arising from the existing legis lations. By using legal research methodology, this article analysed the entire provisions dealing with the appointment
matter. Based on the data collected from statutes passed by the Parliament of and Malaysia published materials, the analytical method was used by scrutinizing the related provisions of the law
pertaining to the appointment of members to the SAC. This study found that, several loopholes exist in the statutory requirement of the existing law which needs to be addressed by the respective
authoritative body in order to avoid any legal conflict in the future. Hence this study is significant in order to strengthen the existing
legislation governing the SAC especially related the appointment process |
| first_indexed | 2024-07-04T06:28:21Z |
| format | Article |
| id | uum-24954 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:28:21Z |
| publishDate | 2017 |
| publisher | Universiti Utara Malaysia Press |
| record_format | dspace |
| spelling | uum-249542018-10-15T02:33:52Z https://repo.uum.edu.my/id/eprint/24954/ The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues Hussain, Mohammad Azam Hassan, Rusni Azhar, Alias Hasan, Aznan KZ Law of Nations In Malaysia, the appointment of members to the Shariah Advisory Council (SAC) of the Central Bank of Malaysia (CBM) is prescribed by the Central Bank of Malaysia Act 2009 (Act 701).The Act stipulates the provisions pertaining to the eligible persons to be appointed to the SAC, procedures, terms and conditions of appointment and also remuneration and allowances for the members of the SAC. In this regard, the question arises whether the prescribed provisions are sufficient to regulate the appointment of members to the SAC and free from any shortcomings. Hence, this study sought to analyse the existing legislations governing the appointment of members to the SAC and to analyse the legal issues arising from the existing legis lations. By using legal research methodology, this article analysed the entire provisions dealing with the appointment matter. Based on the data collected from statutes passed by the Parliament of and Malaysia published materials, the analytical method was used by scrutinizing the related provisions of the law pertaining to the appointment of members to the SAC. This study found that, several loopholes exist in the statutory requirement of the existing law which needs to be addressed by the respective authoritative body in order to avoid any legal conflict in the future. Hence this study is significant in order to strengthen the existing legislation governing the SAC especially related the appointment process Universiti Utara Malaysia Press 2017 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/24954/1/UUMJLS%208%20167-181%202017.pdf Hussain, Mohammad Azam and Hassan, Rusni and Azhar, Alias and Hasan, Aznan (2017) The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues. UUM Journal of Legal Studies (UUM JLS), 8. pp. 167-181. ISSN 2229-984 X http://www.uumjls.uum.edu.my/index.php/current-issues#a8 |
| spellingShingle | KZ Law of Nations Hussain, Mohammad Azam Hassan, Rusni Azhar, Alias Hasan, Aznan The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues |
| title | The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues |
| title_full | The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues |
| title_fullStr | The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues |
| title_full_unstemmed | The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues |
| title_short | The appointment of members to the shariah advisory council of central bank of Malaysia: Legal issues |
| title_sort | appointment of members to the shariah advisory council of central bank of malaysia legal issues |
| topic | KZ Law of Nations |
| url | https://repo.uum.edu.my/id/eprint/24954/1/UUMJLS%208%20167-181%202017.pdf |
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