The paper focuses on establishing accounting standards for the awqaf system in order to increase the efficiency and effectiveness of its operation. Standardization could cut costs and reduce the risk of mismanagement so that services provided by awqaf   strengthen development fundamentals. Thus, it is essential that Muslim countries adopt unified accounting standards to ensure accountability and transparency of various transactions related to awqaf. This will provide flexibility concerning allocations of awqaf endowments so that priority will be given to projects related to people’s basic needs. The proposed framework is designed based on the literature review to conceptualize the need of standardization of accounting for awqaf. The contribution of this paper is to add value to the literature of accounting for awqaf. JEL Classification:  M41, E23.

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Purpose The purpose of this paper is to examine the level of web-based Online Financial Reporting Disclosure (OFRD) in Islamic banking in Oman. Design/methodology/approach A checklist was developed to measure the level of Web-based Online Financial Reporting Disclosure in Islamic banking consist of 70 items (Appendix). The sample of the study consists of Islamic banking in Oman. Findings The findings of the descriptive analysis indicated that the overall level of web-based online financial reporting disclosure was 69%. Practical implications The practical implication of the results are helping the authorities to put more efforts toward the quality of web-based online information to satisfy all parties. Originality/value To the best of the author’s knowledge, there is no similar research done to explore the level of web-based online financial reporting Disclosure (OFRD) in Islamic banking in Oman

Purpose: The purpose of this study is to look into the Shar¯ı‘ah resolution framework in Islamic finance and see how it may be improved. This paper is based on a detailed examination of previous research into the need for a worldwide Shar¯ı‘ah Resolution mechanism to be applied across all IFIs. Methodology: A detailed analysis of past studies on the necessity of a Shar¯ı‘ah Resolution framework to be implemented globally by all IFIs was used to develop the qualitative method. Findings: Measuring the level of fatwá disclosure by specific Islamic banks through central banks Shar¯ı‘ah judgements will add to the existing literature while also filling a gap. Significance: This study is noteworthy because it lays the framework for future researchers on the topic. Using a central bank to assess the extent to which certain Islamic banks have disclosed fatwá. Limitations: These articles’ implications may aid in the explanation of Shar¯ı‘ah-related concerns in Islamic finance. Shar¯ı‘ah resolution in Islamic finance will be a significant Shar¯ı‘ah resource for new products supplied by Islamic financial institutions, as well as any existing goods given to new clients and industry practitioners. Implications: The fatwá is the legal response to the present difficulties that have arisen in the community. fatwá are used to disseminate knowledge to Muslims in order to alleviate their difficulties and misconceptions. Any fatwá-related knowledge will have an impact on individuals, societies, and organizations . As a result, this paper examined the role of fatwás in sharing information and determining how far fatwás can educate society in resolving problems.