SUMMARY
Oman has adopted the Shari’ah governance framework which is very similar to other countries that face issues of Shari’ah governance such as independence, competency, and disclosure. Therefore, this study will examine these main issues in the Shari’ah governance framework of Oman. This paper aims to examine the current practice of Shari’ah governance in Oman from the perspectives of Shari’ah advisors, bankers and regulators. The paper focuses on the present practice of Shari’ah governance framework and related issues such as independence, competency, and disclosure. The paper uses the descriptive research method in terms of collecting secondary data and information for the literature review. Since the availability of data and information on Shari’ah governance practices in Oman is very limited, a semi-structured interview was conducted with Shari’ah advisors, officers and regulators to explore their perceptions on Shari’ah governance and related issues. The findings of the paper reveal that the regulators have put in place an excellent Shari’ah governance framework and it may be considered as one of the best frameworks in the Islamic banking industry. However, there are shortcomings and weaknesses in the current practice of Shari’ah governance frameworks, such as lack of experience, lack of research in the field of Islamic banking and finance and low position of internal Shari’ah review. This study provides and proposes some recommendations for enhancing the present Shari’ah governance framework.Keywords: Shariah, Governance, Oman, Framework, Islamic Banking