Shari'ah Governance in Islamic Banks

ISBN-13: 9780748645572 / Angielski / Miękka / 2012 / 256 str.

Zulkifli Hasan

Opis

An in-depth and insightful study of Shari'ah governance from a theoretical and practical perspectivesTopics covered* The theory behind corporate and Shari'ah governance* The regulatory framework for Shari'ah governance* Shari'ah governance approaches* The Shari'ah Board's roleand how it retains its independence, transparency and competence* The operational procedures of Shari'ah governance* The effectiveness of the Shari'ah Board and how it could be improvedShari'ah governance has a profound influence on the day-to-day practice of Islamic Financial Institutions (IFIs). Each jurisdiction has adopted a different approach to developing a governance framework. This book reviews these pluralistic approaches and identifies best practice. With examples, case studies and practical discussions based on IFIs in: * Malaysia* Bahrain* UAE* Qatar* Kuwait * Saudi Arabia* The UK
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Spis treści

LIST OF TABLES ; LIST OF FIGURES; LIST OF STATUTES ; ACKNOWLEDGEMENTS; DEDICATION ; INTRODUCTION ; CORPORATE GOVERNANCE: A CONVENTIONAL PERSPECTIVE ; 1.1 Conceptual Definition; ; 1.2 Defining Corporate Governance in the Financial Services Sector; 1.3 Role of Corporate Governance ; 1.4 Corporate Governance Systems ; 2.4.1 The Anglo-Saxon Model ; 2.4.2 The European Model ; 1.5 Corporate Governance in the Financial Services Sector; 1.6; Conclusion; CORPORATE GOVERNANCE IN ISLAMIC FINANCIAL INSTITUTIONS; 2.0 Introduction; 2.1 Conceptual Framework of Corporate Governance from an Islamic Perspective; 2.2 Role of Corporate Governance in IFIs; 2.3 The Development of Corporate Governance in IFIs; 2.4 Corporate Governance Model from Islamic Perspective; 3.4.1 Tawh?d and Shura-Based Model; 3.4.2 Stakeholder Value Approach; 2.5 Conclusion; THE SHARI’AH GOVERNANCE SYSTEM IN ISLAMIC FINANCIAL INSTITUTIONS; 3.0 Introduction; 3.1 Conceptual Framework of Shari’ah governance Systems; 3.2 Objectives of the Shari’ah governance System; 3.3 Institutionalization of the Shari’ah board; 3.4 Models of Shari’ah Boards; 3.5.1 Internal Shari’ah boards ; 3.5.2 External Shari’ah boards ; 3.5 Role of the Shari’ah board ; 3.6 International Standard-Setting Agencies 3.6.1 The AAOIFI Governance Standards; 3.6.2 The IFSB Guiding Principles 3.7 ; Shari’ah Governance Process 3.7.1; Appointment 3.7.2; Composition; 3.7.3 Qualification; 3.7.4 The Shari’ahCompliance Process; 3.7.5Shari’ahCoordination; 3.7.6 Shari’ahCompliance Review; 3.7.7 Shari’ahReport; 3.8 Issues and Challenges; 3.8.1 Independence of Shari’ah board; 3.8.2 Competence, Conflict of Interest and Confidentiality; 3.8.3 Disclosure and Transparency; 3.8.4 Shar??ah-Compliant versus Shar??ah-Based; 3.8.5 Consistency; 3.8.6 The Remit of Various Institutions of Shari’ah boards; 3.9 Conclusion; REGULATORY FRAMEWORK OF SHARI’AH GOVERNANCE SYSTEM IN MALAYSIA, GCC COUNTRIES AND THE UK; 4.0 Introduction; 4.1 The Shari’ah governance Model from a Regulatory Perspective; 4.1.1 Reactive Approach; 4.1.2 Passive Approach; 4.1.3 Minimalist Approach 4.1.4 Proactive Approach; 4.1.5 Interventionist Approach; 4.2 Shari’ah governance Systems in Malaysia, GCC Countries and the UK; 4.2.1 Malaysia; 4.2.2 GCC Countries; 4.2.3 United Kingdom; 4.3 Regulatory Issues; 4.3.1 Legal Status of Shari’ahPronouncements; 4.3.2 Court Jurisdiction; 4.3.3 Addressing Issues of Differences of Shari’ahResolution 4.3.4; Executive, Advisory and Supervisory Roles of the Shari’ah board; 4.4 Conclusion; THE STATE OF SHARI’AH GOVERNANCE PRACTICES IN ISLAMIC BANKS; 5.0 Introduction; 5.1 Research Methodology; 5.2 Searching the Particularities of Shari’ah governance in Islamic Banking; 5.2.1 Shari’ah board Members; 5.2.2 Shari’ah governance Approach; 5.2.3 Shari’ah governance and Regulation; 5.2.4 Role of Shari’ah board; 5.2.5 Attributes of Shari’ah board Members; 5.2.6 Operational Procedures; 5.2.7 Assessments of the Shari’ah board; 5.3 Shari’ah governance Index; 5.3.1 The Overall Score of Shari’ah governance; 5.3.2 Shari’ah governance Scores for IFIs in Malaysia, GCC Countries and the UK; 5.3.3 Shari’ah governance Scores According to Year of Incorporation; 5.4 Conclusion; SHARI’AH GOVERNANCE DISCLOSURE IN ISLAMIC BANKS; 6.0 Introduction; 6.1 The State of Shari’ah Governance Disclosure Practices; 6.1.1 Macro Analysis; 6.1.1.1 Shari’ah governance Disclosure in Malaysia, GCC countries and the UK; 6.1.1.2 Shari’ah governance Scores According to Year of Incorporation ; 6.1.2 Micro Analysis; 6.1.2.1 Commitment to Shari’ah governance; 6.1.2.2 Shari’ah board Information; 6.1.2.3 Shari’ah board’s Remuneration; 6.1.2.4 Shari’ahReport; 6.1.2.5 Shari’ahPronouncements; 6.1.2.6 Shari’ahCompliance Review; 6.1.2.7 Information on Products and Services; 6.1.3 Summary of the Overall Shari’ah governance Scores; 6.2 Conclusion; THE WAY FORWARD; 7.0 Introduction; 7.1 The Way Forward; 7.2 EPILOGUE; APPENDIX 1: QUESTIONNAIRE; BIBLIOGRAPHY