PERCEPTION OF SHARIAH GOVERNANCE EDUCATION - EMPIRICAL EVIDENCE FROM MALAYSIA

In this century, the petro dollar plays a vital role which enriches some countries most of which follow the Islamic principles. Shariah accounting and Shariah governance are thus given prime importance in all Islamic countries. 'Shariah' is a word that describes the activities within the bounds of Islam. Islamic finance industries and other industries which follow Shariah compliance are coming to the mainstream instead of niche sectors. Proponents of Shariah compliance are urging corporates to provide appropriate information to stakeholders on the extent of Shariah compliance. Malaysia being one of the proponents of Shariah, one of their goals of 'Vision 2020' is to become the hub for Islamic finance. Along the way the vigor instilled can be witnessed as 85% of the companies listed in Malaysian stock Exchange (Bursa Malaysia) are Shariah compliant. While efforts are being made to achieve this goal, it is felt that education could play a value added role. Most Universities are beginning to offer courses on Islamic finance. This research attempts to identify the extent to which inclusion of Shariah governance along-side other Islamic and other non-Islamic studies would nurture the future generation and thus benefit the economy. Perceptions of the instructors, students and shariah regulators, selected randomly, reveal some interesting facts about education on Shariah governance.