Elasrag, Hussein (2014): Corporate governance in Islamic Finance: Basic concepts and issues.
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Abstract
This paper is one of few papers that highlight the importance of studying corporate governance for institutions offering Islamic financial services. The book is of value in describing governance in Islamic institutions and how there are many issues under the investigation process, especially issues related to the shari‘a Supervisory board and its functionality. One of the objectives of this paper is to discuss, and create greater awareness of, some of the crucial issues related to corporate governance in Islamic financial institutions. A second, but in fact more important, objective is to provide, in the light of this discussion, certain essential guidelines to improve corporate governance in these institutions and thereby enable them to not only maintain their momentum of growth and international acceptance but also safeguard the interests of all stakeholders. The paper gives particular attention to the mechanisms for corporate governance, including the Board of Directors, Senior Management, shareholders, depositors, and regulatory and supervisory authorities. It also focuses on the effective management of risks and, in particular, on creating a supporting environment through moral uplift, social, legal and institutional checks, greater transparency, internal controls, and Shari'a as well as external audit. The paper also indicates briefly the shared institutions that are needed for effective corporate governance.
Item Type: | MPRA Paper |
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Original Title: | Corporate governance in Islamic Finance: Basic concepts and issues |
English Title: | Corporate governance in Islamic Finance: Basic concepts and issues |
Language: | English |
Keywords: | Corporate governance,Islamic Finance,ISLAMIC FINANCIAL INSTITUTIONS,SHARI‘A GOVERNANCE |
Subjects: | G - Financial Economics > G0 - General G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets G - Financial Economics > G2 - Financial Institutions and Services G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages G - Financial Economics > G3 - Corporate Finance and Governance > G34 - Mergers ; Acquisitions ; Restructuring ; Corporate Governance |
Item ID: | 56649 |
Depositing User: | Hussein Elasrag |
Date Deposited: | 18 Jun 2014 07:50 |
Last Modified: | 27 Sep 2019 07:07 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/56649 |
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Corporate governance in Islamic financial institutions. (deposited 01 Jun 2014 13:59)
- Corporate governance in Islamic Finance: Basic concepts and issues. (deposited 18 Jun 2014 07:50) [Currently Displayed]