Centralisation of corporate governance framework for Islamic financial institutions : is it a worthy cause ?
المؤلف
المصدر
ISRA International Journal of Islamic Finance
العدد
المجلد 10، العدد 1 (30 يونيو/حزيران 2018)، ص ص. 36-51، 16ص.
الناشر
الأكاديمية العالمية للبحوث الشرعية
تاريخ النشر
2018-06-30
دولة النشر
ماليزيا
عدد الصفحات
16
التخصصات الرئيسية
الملخص EN
Purpose - The purpose of this paper is to supply basic insights into the principle of shura (consultation) in Islamic banking, the idea of a centralised approach to the corporate governance of Islamic financial institutions (IFIs), the roles of a centralised Shari'ah board as the highest authority on Sharfah issues and its distinguishing features from a de-centralised system and the advantages and disadvantages of the two governance systems.
Design/methodology/approach - In analyzing these, the paper adopts the critical legal studies approach and refers to the provisions of the Qur'an and Sunnah, ijma' (consensus) of Shan"ah scholars and recent Islamic banking reports.
Findings - Despite the fact that the double-digit growth of the current US$2tn Islamic banking industry is a promising sign for its further expansion - expecting to cross the US$6.5tn mark by 2020 - there remains concern over the lack of standardization or rather the diversified approaches to the corporate governance of IFIs across key Islamic banking regions.
Practical implications - There has been much debate surrounding the issue of whether the Islamic banking industry requires a centralised Sharf ah board at the state level to complement the Shan"ah boards at the IFIs’ individual level in providing better supervision of the Shan"ah-compliance of IFIs.
The fact that the industry is already equipped with two prominent standard-setting agencies in the form of the AAOIFI, the IFSB does little to suggest that best governance practices - which centre around the themes of consistency, harmony and uniformity - are on the horizon, at least not whilst their issued standards and guidelines remain voluntary for IFIs.
Originality/value - All in all, it is aspired that this paper may assist the reader in evaluating the pros and cons of the whole concept of Shan"ah board centralisation.
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
Abd al-Razzaq, Abd al-Hakim. 2018. Centralisation of corporate governance framework for Islamic financial institutions : is it a worthy cause ?. ISRA International Journal of Islamic Finance،Vol. 10, no. 1, pp.36-51.
https://search.emarefa.net/detail/BIM-965610
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
Abd al-Razzaq, Abd al-Hakim. Centralisation of corporate governance framework for Islamic financial institutions : is it a worthy cause ?. ISRA International Journal of Islamic Finance Vol. 10, no. 1 (2018), pp.36-51.
https://search.emarefa.net/detail/BIM-965610
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
Abd al-Razzaq, Abd al-Hakim. Centralisation of corporate governance framework for Islamic financial institutions : is it a worthy cause ?. ISRA International Journal of Islamic Finance. 2018. Vol. 10, no. 1, pp.36-51.
https://search.emarefa.net/detail/BIM-965610
نوع البيانات
مقالات
لغة النص
الإنجليزية
الملاحظات
Includes bibliographical references : p. 46-51
رقم السجل
BIM-965610
قاعدة معامل التأثير والاستشهادات المرجعية العربي "ارسيف Arcif"
أضخم قاعدة بيانات عربية للاستشهادات المرجعية للمجلات العلمية المحكمة الصادرة في العالم العربي
تقوم هذه الخدمة بالتحقق من التشابه أو الانتحال في الأبحاث والمقالات العلمية والأطروحات الجامعية والكتب والأبحاث باللغة العربية، وتحديد درجة التشابه أو أصالة الأعمال البحثية وحماية ملكيتها الفكرية. تعرف اكثر