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Islamic accounting, neo-imperialism and identity staging: The accounting and auditing organization for Islamic financial institutions

Islamic accounting, neo-imperialism and identity staging: The accounting and auditing organization for Islamic financial institutions
Islamic accounting, neo-imperialism and identity staging: The accounting and auditing organization for Islamic financial institutions
This study locates Islamic accounting within the wider context of globalisation and imperialism. It elaborates on the role played by AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) in sustaining the imperialism-accounting nexus in key Islamic finance markets. Building on the “collaborative theory of imperialism”, we specifically highlight the role of internal collaborators associated with AAOIFI like Islamic Financial Institutions (IFIs), regulatory bodies and Muslim elites, including ulama (Sharia scholars), in the process of aligning AAOIFI with the international accounting harmonisation (IAH) project. Relatedly, we expound on tensions faced by AAOIFI as it attempts to integrate into the IAH project but meanwhile retain its Islamic character and appeal to the Muslim populace. Here, we demonstrate how AAOIFI, like IFIs, engages in an “identity staging” exercise to appear Islamic, while retaining and protecting the interests of Muslim and western elites through the continued support of the accounting-imperialism nexus.
1045-2354
Kamla, Rania
c3394c60-0b40-48a1-917b-b1f719ff1ea9
Haque, Faizul
8153d83c-427a-4f73-860d-dd7e9460533d
Kamla, Rania
c3394c60-0b40-48a1-917b-b1f719ff1ea9
Haque, Faizul
8153d83c-427a-4f73-860d-dd7e9460533d

Kamla, Rania and Haque, Faizul (2019) Islamic accounting, neo-imperialism and identity staging: The accounting and auditing organization for Islamic financial institutions. Critical Perspectives on Accounting, 63, [102000]. (doi:10.1016/j.cpa.2017.06.001).

Record type: Article

Abstract

This study locates Islamic accounting within the wider context of globalisation and imperialism. It elaborates on the role played by AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) in sustaining the imperialism-accounting nexus in key Islamic finance markets. Building on the “collaborative theory of imperialism”, we specifically highlight the role of internal collaborators associated with AAOIFI like Islamic Financial Institutions (IFIs), regulatory bodies and Muslim elites, including ulama (Sharia scholars), in the process of aligning AAOIFI with the international accounting harmonisation (IAH) project. Relatedly, we expound on tensions faced by AAOIFI as it attempts to integrate into the IAH project but meanwhile retain its Islamic character and appeal to the Muslim populace. Here, we demonstrate how AAOIFI, like IFIs, engages in an “identity staging” exercise to appear Islamic, while retaining and protecting the interests of Muslim and western elites through the continued support of the accounting-imperialism nexus.

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More information

Accepted/In Press date: 18 June 2017
e-pub ahead of print date: 22 June 2017
Published date: 1 September 2019

Identifiers

Local EPrints ID: 446830
URI: http://eprints.soton.ac.uk/id/eprint/446830
ISSN: 1045-2354
PURE UUID: 05944ed9-5030-4e9d-b496-14b0189dcdf6
ORCID for Faizul Haque: ORCID iD orcid.org/0000-0003-1556-3466

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Date deposited: 24 Feb 2021 17:30
Last modified: 17 Mar 2024 04:06

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Contributors

Author: Rania Kamla
Author: Faizul Haque ORCID iD

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