2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia
| Format: | General Document |
|---|
| _version_ | 1860798177175666688 |
|---|---|
| building | INTELEK Repository |
| collection | Online Access |
| collectionurl | https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 |
| copyright | Copyright©PWB2025 |
| country | Malaysia |
| date | 2019-10-07 |
| format | General Document |
| id | 16303 |
| institution | UniSZA |
| originalfilename | DEVELOPING THE LEGAL STATUS, ATTRIBUTES AND GOVERNANCE FRAMEWORK FOR SHARIAH COMPLIANT CORPORATION IN MALAYSIA (PHD_2019).pdf |
| person | Hartinie binti Hj Abd Aziz |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=16303 |
| sourcemedia | Server storage Scanned document |
| spelling | 16303 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=16303 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Law & International Relations English application/pdf 1.5 286 Server storage Scanned document Universiti Sultan Zainal Abidin UniSZA Private Access Universiti Sultan Zainal Abidin SAMBox 2.3.4; modified using iTextSharp™ 5.5.10 ©2000-2016 iText Group NV (AGPL-version) Copyright©PWB2025 Islamic law Corporate governance 2019-10-07 Developing Business enterprises DEVELOPING THE LEGAL STATUS, ATTRIBUTES AND GOVERNANCE FRAMEWORK FOR SHARIAH COMPLIANT CORPORATION IN MALAYSIA (PHD_2019).pdf Hartinie binti Hj Abd Aziz Legal Status Attributes 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia The Malaysia company law is based on the English common law which used the metaphor of corporate personality to justify the existence of corporation as a legal person. As a creature of the statute, the legal status of a company is totally dependent on the Companies Act 2016. Such principle is not applicable under the Shariah as companies in Islamic companies are classified as Sharikah which is akin to common law partnerships. It is also observed that the governance frameworks for companies under Shariah are also different from the conventional companies, mainly due the different basis and objectives in conducting businesses.Due to the differences in legal status and governance framework of corporations under the common law and Shariah, a question arise whether the existing Companies Act 2016 is appropriate to regulate and govern companies which carried out Shariah compliance businesses in Malaysia. This is important because Malaysia aims to be the global hub for Shariah compliant businesses and having a corporate entity which complies with Shariah principles would boost Malaysia good will in shariah compliant businesses. This research is purely doctrinal legal research which applied comparative study analysis of the common law and Shariah with special reference to Malaysia. A doctrinal analysis was applied in this research to verify jurisprudential discussions on corporation as a legal person. This research found that the existing Companies act in Malaysia cannot be directly applied by Shariah compliant businesses. As regards the legal status, the Shariah Compliant Corporations could be a body corporate but with quasi separate legal entity because the corporation cannot be totally separated from the owners. Due to this, some attributes of Shariah Compliant Corporation will be different than conventional companies. As for the governance framework, it is proposed for Shariah Compliant Corporation to adopt the Shariah governance framework for Islamic financial institutions with certain modifications. Dissertations, Academic Thesis |
| spellingShingle | 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia |
| state | Terengganu |
| subject | Islamic law Corporate governance Business enterprises Dissertations, Academic |
| summary | The Malaysia company law is based on the English common law which used the metaphor of corporate personality to justify the existence of corporation as a legal person. As a creature of the statute, the legal status of a company is totally dependent on the Companies Act 2016. Such principle is not applicable under the Shariah as companies in Islamic companies are classified as Sharikah which is akin to common law partnerships. It is also observed that the governance frameworks for companies under Shariah are also different from the conventional companies, mainly due the different basis and objectives in conducting businesses.Due to the differences in legal status and governance framework of corporations under the common law and Shariah, a question arise whether the existing Companies Act 2016 is appropriate to regulate and govern companies which carried out Shariah compliance businesses in Malaysia. This is important because Malaysia aims to be the global hub for Shariah compliant businesses and having a corporate entity which complies with Shariah principles would boost Malaysia good will in shariah compliant businesses. This research is purely doctrinal legal research which applied comparative study analysis of the common law and Shariah with special reference to Malaysia. A doctrinal analysis was applied in this research to verify jurisprudential discussions on corporation as a legal person. This research found that the existing Companies act in Malaysia cannot be directly applied by Shariah compliant businesses. As regards the legal status, the Shariah Compliant Corporations could be a body corporate but with quasi separate legal entity because the corporation cannot be totally separated from the owners. Due to this, some attributes of Shariah Compliant Corporation will be different than conventional companies. As for the governance framework, it is proposed for Shariah Compliant Corporation to adopt the Shariah governance framework for Islamic financial institutions with certain modifications. |
| title | 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia |
| title_full | 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia |
| title_fullStr | 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia |
| title_full_unstemmed | 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia |
| title_short | 2019_Developing the Legal Status, Attributes and Governance Framework for Shariah Compliant Corporation in Malaysia |
| title_sort | 2019_developing the legal status, attributes and governance framework for shariah compliant corporation in malaysia |