CORPORATE AND SHARIAH GOVERNANCE RELATIONSHIP WITH PREVENTION OF FRAUDS IN BANKING SECTOR OF PAKISTAN: A QUALITATIVE APPROACH
In the modern world, the banking system is impacted by both internal and external causes, necessitating ongoing regulatory oversight. Many people still operate outside the financial system's sphere of influence and are not included in the banking ambit. It is crucial to include that market, as doing so would enable banks to make healthy profits and support the expansion of the economy. The purpose of this study is to investigate the impact of Shariah and Corporate Governance for the prevention of frauds in terms of compliance audit. Data was gathered from management of Islamic and conventional banks operating in Pakistan using qualitative methodologies. Respondents from both corporate and Islamic banks were contacted for the interview. Different respondents were used in the interviews. The thematic analysis was conducted and NVivo software was used for Word cloud pictures to highlight themes. Bankers were interviewed on banking fraud and countered their opinion on banking fraud and suggestions about minimizing banking fraud. The study's findings suggest that managers should receive training and development along with recommended fraud-prevention measures. It entails preventing internal fraud incidents and winning the trust and confidence of customers.
corporate governance, shariah governance, fraud, banking industry