The Extent of Islamic Banks' Compliance with Disclosure Requirements in the Islamic Banks Governance Guide issued by the Central Bank of Libya. (A Case Study of the Libyan Islamic Bank – Benghazi)

Abstract

The study aimed to demonstrate the extent to which Islamic banks in Libya comply with the disclosure requirements outlined in the Islamic Banks Governance Guide issued by the Central Bank of Libya. To achieve this goal, the study relied on the deductive-inductive approach, as it suits the topic and depends on collecting data and information that help describe the theoretical basis and derive the study's questions. The study population consisted of the Libyan Islamic Bank – Benghazi branch, and the study sample included all employees in the finance departments, accounting, auditing offices, and Sharia auditing offices. A questionnaire was used to study the variables, with 22 questionnaires distributed to cover the entire sample as a tool to collect primary data related to the study topic. The data were then processed and analyzed using the statistical software (SPSS), with appropriate statistical tests and treatments applied to reach meaningful conclusions supporting the study's topic. The study showed an overall positive trend towards the Libyan Islamic Bank’s commitment to the disclosure and transparency requirements outlined in the Islamic Banks Governance Guide issued by the Central Bank of Libya. The study concluded with a set of recommendations, the most important of which is that the bank's senior management should increase focus on the level of commitment to applying the disclosure and transparency principles issued by the Central Bank of Libya.