A Survey on Sharīc Ah Governance Practices in Islamic Financial Institutions in Malaysia, Gcc Countries and the Uk
A Survey on Sharīc Ah Governance Practices in Islamic Financial Institutions in Malaysia, Gcc Countries and the Uk
Sharī’ah governance is an additional layer of governance within the internal structure of corporate governance in Islamic financial institutions (IFIs) and serves as an important mechanism for addressing Sharī’ah non-compliance risk, a specific type of risk exclusive to IFIs. This chapter examines Sharī’ah governance practices in thirty-five IFIs in Malaysia, the United Kingdom and the Gulf Cooperation Council (GCC) countries. More specifically, it considers the banks’ internal arrangements for Sharī’ah governance, disputes procedures and the legal authority of Sharī’ah boards, their work and operational procedures, and their competence, confidentiality and independence. The chapter highlights serious deficiencies in Sharī’ah governance, which are worse in the United Kingdom and the GCC than in Malaysia.
Keywords: corporate governance, Islamic financial institutions, Sharī’ah, non-compliance risk, Malaysia, United Kingdom, Gulf Cooperation Council, disputes procedures, legal authority, Sharī’ah boards
Edinburgh Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.
