Shari’ah Corporate Governance : The Need for a Special Governance Code

Hassan , Rusni; Muneeza , Aishath

Article Details

Shari’ah Corporate Governance : The Need for a Special Governance Code

Authors:

Hassan , Rusni | Muneeza , Aishath

Publisher:

Hamdan Bin Mohammed e-University

Main Topics:

Islam, Bábism & Bahá"í Faith

Journal:

International Journal of Excellence in Public Sector Management 2011 Vol.4 Issue 2, pp.1-14

Document Type:

Article

Publication Date:

6/2011

Document Language:

English

Document ID (Org No.):

12786

Frequency:

Bi-Annual

eISSN:

19938640

Descriptors:

Keywords:

Abstract:

 With advent of Islamic banking in the world, new specie was added to the banking system which was then, only dominated by the conventional banking. Islamic banking expanded in the world within the last decade and as a result, Islamic finance emerged as an alternative to the conventional finance. This created Islamic companies and Islamic Financial Institutions which operate based on the principles of Shari’ah or Islamic Law. These Islamic corporate bodies, like the conventional corporate bodies do need good governance rules. In other words, they also need a good, sophisticated “Shari’ah Governance Code” which would be based on the principle of Islamic Law. This is mainly because the objective of the conventional and the Islamic Corporate governance is different as conventional corporate governance structure is more focused on the protection of the rights of the stakeholders; while Islamic corporate governance focus on retaining the Islamicity of whole corporation. The objective of this research is; as the title suggests; proposing the reasons why a special governance Code for Shari’ah corporate bodies are needed. This paper would suggest a proper governance structure to the Islamic companies and will also discuss why the conventional corporate governance Codes are unsuitable for the Islamic Companies. Indeed, the growing demand for Islamic banking and finance in the world and emergence of Islamic companies in the world creates the need for a special governance code for Shari’ah corporate governance.

Article Details

Shari’ah Corporate Governance : The Need for a Special Governance Code

Authors:

Hassan , Rusni | Muneeza , Aishath

Publisher:

Hamdan Bin Mohammed e-University

Main Topics:

Islam, Bábism & Bahá"í Faith

Journal:

International Journal of Excellence in Public Sector Management 2011 Vol.4 Issue 2, pp.1-14

Document Type:

Article

Publication Date:

6/2011

Document Language:

English

Document ID (Org No.):

12786

Frequency:

Bi-Annual

eISSN:

19938640

Descriptors:

ISLAMIC BANKING

ISLAMIC LAW

ECONOMIC COOPERATION

FINANCE

PROVISIONS OF SHARIA

Shari’ah governance

governance code

Islamic banking and finance

Issues

Article Details

Authors: Hassan , Rusni | Muneeza , Aishath

Publisher: Hamdan Bin Mohammed e-University

Main Topics: Islam, Bábism & Bahá"í Faith

Journal: International Journal of Excellence in Public Sector Management 2011 Vol.4 Issue 2, pp.1-14

Document Type: Article

Publication Date: 6/2011

Document Language: English

Document ID (Org No.): 12786

Frequency: Bi-Annual

eISSN: 19938640

Descriptors:

Issues

Authors:

Hassan , Rusni | Muneeza , Aishath

Publisher:

Hamdan Bin Mohammed e-University

Main Topics:

Islam, Bábism & Bahá"í Faith

Journal:

International Journal of Excellence in Public Sector Management 2011 Vol.4 Issue 2, pp.1-14

Document Type:

Article

Publication Date:

6/2011

Document Language:

English

Document ID (Org No.):

12786

Frequency:

Bi-Annual

eISSN:

19938640