This publication is part of the journal (2011-2)
Purpose – This paper aims to investigate the relationship between the composition of Sharīʿah supervisory
boards (independence and frequency of meetings) and the performance of Islamic banks in the Gulf
Cooperation Council (GCC) countries.
Design/methodology/approach – The study developed a multiple linear regression model, and data
were collected from the annual reports of 48 standalone Islamic banks listed in the GCC countries covering the
period between 2013 and 2017.
Findings – The results showed a statistically significant and negative relationship between the composition
of the Sharīʿah supervisory boards and the performance of Islamic banks.
Research limitations/implications – As the current study used only one indicator, that is Return on
Assets to measure performance, it is recommended to expand the framework of this study, through the
addition of market-based performance indicators such as Tobin’s Q.
Practical implications – This study recommends the GCC countries to follow a more proactive
Sharīʿah governance model to strengthen their frameworks from both regulatory and non-regulatory
Originality/value – The study contributes to the Sharīʿah governance and Islamic banking literature
relating to the GCC countries as previous studies gave no attention to the composition of Sharīʿah supervisory
Keywords Sharīʿah governance, Sharīʿah supervisory board independence,
Sharīʿah supervisory board frequency of meetings, Performance, Islamic banking
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