Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions
The purpose of this research is to develop a comprehensive theoretical framework for interpreting Shariah governance mechanism in Islamic financial institutions (IFIs). After reviewing existing theories that were used to explain the phenomenon of corporate governance, three most commonly used theori...
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| Format: | Article |
| Language: | English English |
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Palgrave Macmillan Ltd.
2014
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| Online Access: | http://irep.iium.edu.my/58540/ http://irep.iium.edu.my/58540/1/58540_Toward%20a%20comprehensive%20_article.pdf http://irep.iium.edu.my/58540/2/58540_Toward%20a%20comprehensive%20_scopus.pdf |
| _version_ | 1848785132442353664 |
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| author | Sheikh Obid, Siti Normala Naysary, Babak |
| author_facet | Sheikh Obid, Siti Normala Naysary, Babak |
| author_sort | Sheikh Obid, Siti Normala |
| building | IIUM Repository |
| collection | Online Access |
| description | The purpose of this research is to develop a comprehensive theoretical framework for interpreting Shariah governance mechanism in Islamic financial institutions (IFIs). After reviewing existing theories that were used to explain the phenomenon of corporate governance, three most commonly used theories in the corporate governance and Shariah governance area namely agency theory, stewardship theory and stakeholder theory were used and integrated based on their interrelated concepts and their relationship with Shariah governance. The constructed theoretical framework includes five concepts, namely accountability, disclosure and transparency, competency, confidentiality and independency among the key functionaries in Shariah governance, which are perceived to be the principles of Shariah governance. This research is among the first attempts to build an integrated theoretical foundation for Shariah governance in IFIs and the developed theoretical framework can be used as the basis for interpretations and comparisons on the ideal versus practical situation of Shariah governance in IFIs. |
| first_indexed | 2025-11-14T16:48:17Z |
| format | Article |
| id | iium-58540 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:48:17Z |
| publishDate | 2014 |
| publisher | Palgrave Macmillan Ltd. |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-585402017-09-26T06:37:14Z http://irep.iium.edu.my/58540/ Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions Sheikh Obid, Siti Normala Naysary, Babak BP Islam. Bahaism. Theosophy, etc HG Finance The purpose of this research is to develop a comprehensive theoretical framework for interpreting Shariah governance mechanism in Islamic financial institutions (IFIs). After reviewing existing theories that were used to explain the phenomenon of corporate governance, three most commonly used theories in the corporate governance and Shariah governance area namely agency theory, stewardship theory and stakeholder theory were used and integrated based on their interrelated concepts and their relationship with Shariah governance. The constructed theoretical framework includes five concepts, namely accountability, disclosure and transparency, competency, confidentiality and independency among the key functionaries in Shariah governance, which are perceived to be the principles of Shariah governance. This research is among the first attempts to build an integrated theoretical foundation for Shariah governance in IFIs and the developed theoretical framework can be used as the basis for interpretations and comparisons on the ideal versus practical situation of Shariah governance in IFIs. Palgrave Macmillan Ltd. 2014-12-05 Article PeerReviewed application/pdf en http://irep.iium.edu.my/58540/1/58540_Toward%20a%20comprehensive%20_article.pdf application/pdf en http://irep.iium.edu.my/58540/2/58540_Toward%20a%20comprehensive%20_scopus.pdf Sheikh Obid, Siti Normala and Naysary, Babak (2014) Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions. Journal of Financial Services Marketing, 19 (4). pp. 304-318. ISSN 1363-0539 E-ISSN 1479-1846 https://link.springer.com/article/10.1057%2Ffsm.2014.26 10.1057/fsm.2014.26 |
| spellingShingle | BP Islam. Bahaism. Theosophy, etc HG Finance Sheikh Obid, Siti Normala Naysary, Babak Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions |
| title | Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions |
| title_full | Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions |
| title_fullStr | Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions |
| title_full_unstemmed | Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions |
| title_short | Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions |
| title_sort | toward a comprehensive theoretical framework for shariah governance in islamic financial institutions |
| topic | BP Islam. Bahaism. Theosophy, etc HG Finance |
| url | http://irep.iium.edu.my/58540/ http://irep.iium.edu.my/58540/ http://irep.iium.edu.my/58540/ http://irep.iium.edu.my/58540/1/58540_Toward%20a%20comprehensive%20_article.pdf http://irep.iium.edu.my/58540/2/58540_Toward%20a%20comprehensive%20_scopus.pdf |