What is it about?
This is corporate governance issue. Bank Muamalat has an eminent board of directors and Shariah Supervisory Council composed of learned Islamic scholars. There is an audit committee to oversee the financial affairs of the bank that reports to the board of directors.
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Why is it important?
This is case study that can be used as teaching materials in area of Islamic management. Cases in Islamic management are rarely available.
Perspectives
Bank Muamalat allocated RM17 million to be invested in information technology (IT) systems, in line with its business plans in 2000. The allocation included RM2.25 million to finance its IT project to implement a Microsoft Digital Nervous System (DNS). With the DNS, the bank was expected to operate an effective and efficient information sharing and communications system across the organization, thus enabling it to respond and react quickly to customer feedback. Under this project, the bank was to have access to latest versions of Microsoft's software and technology at lower costs, encompassing the design, development, implementation and delivery of knowledge management applications.
Research Professor Dr. Khaliq Ahmad
Putra Business School-UPM-Malaysia
Read the Original
This page is a summary of: Case 3: Bank Muamalat, September 2015, Wiley,
DOI: 10.1002/9781118646007.ch12.
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