The propose governance framework for shariah corporation

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building INTELEK Repository
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collectionurl https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072
date 2019-07-11 07:28:24
format Restricted Document
id 11936
institution UniSZA
originalfilename 6236-01-FH02-FUHA-19-26352.pdf
person firdaus razab
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resourceurl https://intelek.unisza.edu.my/intelek/pages/view.php?ref=11936
spelling 11936 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=11936 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Article Journal application/pdf 7 Adobe Acrobat Pro DC 20 Paper Capture Plug-in 1.7 firdaus razab 2019-07-11 07:28:24 6236-01-FH02-FUHA-19-26352.pdf UniSZA Private Access The propose governance framework for shariah corporation International Journal of Law, Government and Communication Shariah Corporation has developed rapidly offering a various product and services that comply with the shariah principles. Nevertheless, all the so called shariah corporation was framed under conventional framework beginning from its incorporation as a company up until its corporate governance, and decision’s making process. Such conventional framework does differ from the shariah framework. Hence, it is a need to develop a new framework of governance that can be applied to all shariah corporations. 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 This paper emphasizes that Shari’ah compliance is the core element of shariah corporation and thus Shari’ah governance is an ideal platform to ensure such adherence and thus boost up the level of public confidence in shariah corporation. It is undeniably that, there are few shariah governance codes available nowadays, but, these codes are mainly referred to Islamic financial institution per se. This study looks at the current conventional framework and accordingly, this paper proposes a Shari’ah governance framework to accommodate the shariah corporation. The framework suggests incorporating various fundamental governance principles of organisations. This proposed framework is to strengthen the existing guidelines and reflect a holistic governance system for shariah corporation. 4 15 84-90
spellingShingle The propose governance framework for shariah corporation
summary Shariah Corporation has developed rapidly offering a various product and services that comply with the shariah principles. Nevertheless, all the so called shariah corporation was framed under conventional framework beginning from its incorporation as a company up until its corporate governance, and decision’s making process. Such conventional framework does differ from the shariah framework. Hence, it is a need to develop a new framework of governance that can be applied to all shariah corporations. 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 This paper emphasizes that Shari’ah compliance is the core element of shariah corporation and thus Shari’ah governance is an ideal platform to ensure such adherence and thus boost up the level of public confidence in shariah corporation. It is undeniably that, there are few shariah governance codes available nowadays, but, these codes are mainly referred to Islamic financial institution per se. This study looks at the current conventional framework and accordingly, this paper proposes a Shari’ah governance framework to accommodate the shariah corporation. The framework suggests incorporating various fundamental governance principles of organisations. This proposed framework is to strengthen the existing guidelines and reflect a holistic governance system for shariah corporation.
title The propose governance framework for shariah corporation
title_full The propose governance framework for shariah corporation
title_fullStr The propose governance framework for shariah corporation
title_full_unstemmed The propose governance framework for shariah corporation
title_short The propose governance framework for shariah corporation
title_sort propose governance framework for shariah corporation