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دور أدوات الحوكمة في تنظيم الرقابة الشرعية و تطويرها
[Role of the governance Tools in the organize and development of the Shariah supervisory system]

Author

Listed:
  • Elasrag, Hussein

Abstract

At present in line with shariah principles several Islamic financial institutions are engaged in product development activities globally to cater the needs of a wide range of parties. However, considering the essentiality for these institutions to innovate and operate within the ambits of shariah, need of the shariah supervision cannot be over stated. This research is focused on the topic of Governance Shariah supervisory system. Among the main issues surround corporate governance in Islamic financial institutions is the role of the Sharia Supervisory). The main role of the Shariah supervisory system is to ensure the compliance of Sharia law along the entire business process. The Shariah supervisory system therefore plays a vital harmonizing role in Islamic banking, particularly with its function as the Sharia-compliance gatekeeper. The paper attempts to discuss these functions in detail and tries to shed a little light on established laws in Malaysia regarding regulations of the Shariah supervisory system and operations of Islamic financial institutions.

Suggested Citation

  • Elasrag, Hussein, 2014. "دور أدوات الحوكمة في تنظيم الرقابة الشرعية و تطويرها [Role of the governance Tools in the organize and development of the Shariah supervisory system]," MPRA Paper 53489, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:53489
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    More about this item

    Keywords

    Corporate governance; Sharia Governance; Sharia Supervisory; Islamic banking; Islamic finance;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G0 - Financial Economics - - General
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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