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Purpose The main aim of this research is to ascertain the expected duties and performed roles and functions of the Shariah supervisory boards (SSBs) of Islamic banks in Bangladesh. Design/methodology/approach A semistructured face-to-face interview was applied to accomplish the research objectives. In total, data was collected from 17 respondents with a combination of regulators, SSBs, Shariah department executives and experts from the central bank and Islamic banks in Bangladesh. Findings This study finds that the expectations of Islamic banks toward SSB members are to provide opinions on Shariah issues, guidelines and decisions regarding the modern banking, practices and delivering of fatwas on the contemporary issues offered by the management to fulfill the demand of the numerous stakeholders. In addition, they can develop Shariah governance (SG) policies and implement those guidelines, approve and develop new products, observe and monitor banking functions, identify problems and outline solutions as well as they should ensure Shariah principles and compliance. The SSBs members perform roles and functions in monitoring and reviewing overall banking activities and functions; reviewing products, services and contracts; preparing SG guidelines; ensuring Shariah principles and compliance; providing opinions on existing SG practices and finally, delivering Shariah resolutions on the overall functions. Research limitations/implications This study significantly contributed to the national regulatory bodies by providing suggestions that the existing SG system should be improved to enhance the overall monitoring of SSB and ensure more Shariah compliance in the overall operations of the Islamic banks in Bangladesh. Originality/value This is the first research to the best of authors’ knowledge that explores the expected duties and performed roles and functions of the Islamic banks concerning Bangladesh. This study also contributes to the agency, legitimacy and stakeholder theories by outlining the expected and performed roles of SSBs to the Islamic banks and stakeholders.

The study is an endeavor to analyze the relationship between transformational leadership (TFL) and innovative work behavior (IWB) of bank employees in commercial banks of Bangladesh. This paper examines whether psychological empowerment influences the above causal relationship. Data from 372 bank employees were analyzed using Structural Equation Modeling and Partial Least Squares (SMART PLS). Our key findings suggest that there is a significant positive relationship between TFL and IWB. The results also indicate the employees who are highly psychologically empowered, like to work under TFL and this shows that when the level of psychological empowerment of employees is high, TFL impact IWB positively. From the leadership perspective, our findings suggest that the role of psychological empowerment in the relationship between TFL and IWB should not be underestimated by the leaders or the managers of the commercial banks.

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This paper aims to explore the current practices and problems in the Shariah governance framework of Islamic insurance in Bangladesh. The study reveals that the governance system of Islamic insurance companies in Bangladesh is largely based on voluntary initiatives by itself and there is an absence of full-fledged Shariah governance framework. All Islamic insurance companies in Bangladesh have their own SSB who performs the Shariah audits and review activities. Based on the critical review, it provides some suggestions for the improvement of the Shariah governance framework of Islamic insurance. In order to improve the Shariah governance system of Islamic insurance companies, Bangladesh government should enact a law for its operations and rulings. Moreover, the Insurance Development and Regulatory Authority of Bangladesh (IDRA) should improve its guidelines for Islamic insurance operations to comply with Shariah principles and may recognize the Central Shariah Council for Islamic Insurance of Bangladesh (CSCIIB) so that, they can supervise and monitor the overall activities of Islamic insurance companies in Bangladesh.