An Introduction to Islamic Finance: Theory and Practice

334 AN INTRODUCTION TO ISLAMIC FINANCE fi duciary duties of managers is counterproductive and leads to sub - optimal results. Th ...

Corporate Governance 335 managers and leaders all contributed to the chaos. Collins (2009) has observed the corporate behavior o ...

336 AN INTRODUCTION TO ISLAMIC FINANCE where confl icts of interest are expected to appear (for example, rela- tionships with af ...

Corporate Governance 337 institutions. As a result, IAHs do not have any direct means to protect their rights. Since they do not ...

338 AN INTRODUCTION TO ISLAMIC FINANCE of the rights of investors and entrepreneurs who have put their faith and trust in the fi ...

Corporate Governance 339 different and possibly competing IFIs, it may give rise to another potential confl ict of interest. SSB ...

340 AN INTRODUCTION TO ISLAMIC FINANCE Lack of standardization Corporate governance practices are still evolving in several juri ...

341 TABLE 15.2 Shari’ah compliance: practices and framework Country Islamic Banking Law Shari’ah Committee Fit & Proper Cr ...

TABLE 15.2 Shari’ah compliance: practices and framework Country Islamic Banking Law Shari’ah Committee Fit & Proper Criter ...

Corporate Governance 343 Islamic fi nancial institutions have made considerable efforts to improve the level of transparency and ...

344 AN INTRODUCTION TO ISLAMIC FINANCE LESSONS FROM THE CURRENT FINANCIAL CRISIS “Corporate governance is one of the most import ...

Corporate Governance 345 system at large did not carry out its tasks with enough consideration for the long - term interest of i ...

346 AN INTRODUCTION TO ISLAMIC FINANCE Deteriorating Business Ethics and Values The current fi nancial crisis has also highlight ...

Corporate Governance 347 system is to enhance social justice and welfare. To this end, it expects the highest moral and ethical ...

348 AN INTRODUCTION TO ISLAMIC FINANCE Zingales (1997). Donaldson and Preston (1995); Freeman (1984). Shari’ah scholars conside ...

Corporate Governance 349 who said: “The truthful merchant [is rewarded by being ranked] on the Day of Resurrection with prophets ...

351 CHAPTER 16 Globalization and its Challenges T he last few decades have witnessed dramatic and rapid changes in the structure ...

352 AN INTRODUCTION TO ISLAMIC FINANCE As globalization gathers momentum and becomes pervasive, and as more economies liberalize ...

Globalization and its Challenges 353 developing core principles of Islamic economics, and understanding the functioning of a fi ...

354 AN INTRODUCTION TO ISLAMIC FINANCE comprehensive, and systematic economic hermeneutics as a foundational structure that supp ...