External Audit And Corporate Governance In Islamic Banks

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Corporate Governance in Islamic Financial Institutions

Author : Hussein Elasrag
Publisher : Hussein Elasrag
ISBN 13 : 8828329238
Total Pages : 130 pages
Book Rating : 4.8/5 (283 download)

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Book Synopsis Corporate Governance in Islamic Financial Institutions by : Hussein Elasrag

Download or read book Corporate Governance in Islamic Financial Institutions written by Hussein Elasrag and published by Hussein Elasrag. This book was released on 2018-05-27 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is of value in describing governance in Islamic institutions and how there are many issues under the investigation process, especially issues related to the Shari'ah Supervisory board and its functionality. One of the objectives of this paper is to discuss, and create greater awareness of, some of the crucial issues related to corporate governance in Islamic financial institutions. A second, but in fact more important, objective is to provide, in the light of this discussion, certain essential guidelines to improve corporate governance in these institutions and thereby enable them to not only maintain their momentum of growth and international acceptance but also safeguard the interests of all stakeholders. The book gives particular attention to the mechanisms for corporate governance, including the Board of Directors, Senior Management, shareholders, depositors, and regulatory and supervisory authorities. It also focuses on the effective management of risks and, in particular, on creating a supporting environment through moral uplift, social, legal and institutional checks, greater transparency, internal controls, and Shari'a as well as external audit. The book also indicates briefly the shared institutions that are needed for effective corporate governance.

External Audit and Corporate Governance in Islamic Banks

Author : Abdelgadir Banaga
Publisher : Ashgate Publishing
ISBN 13 : 9781856284417
Total Pages : 268 pages
Book Rating : 4.2/5 (844 download)

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Book Synopsis External Audit and Corporate Governance in Islamic Banks by : Abdelgadir Banaga

Download or read book External Audit and Corporate Governance in Islamic Banks written by Abdelgadir Banaga and published by Ashgate Publishing. This book was released on 1994 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work establishes the need for accounting and auditing standards for Islamic banks and other institutions. After a review of the development of such standards in the West, it is concluded that a similar, but accelerated process of discourse needs to be undertaken in Islamic countries.

Corporate Governance in Islamic Finance

Author : Hussein Elasrag
Publisher : Hussein Elasrag
ISBN 13 : 2614446610
Total Pages : 75 pages
Book Rating : 4.6/5 (144 download)

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Book Synopsis Corporate Governance in Islamic Finance by : Hussein Elasrag

Download or read book Corporate Governance in Islamic Finance written by Hussein Elasrag and published by Hussein Elasrag. This book was released on 2022-02-25 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is one of few papers that highlight the importance of studying corporate governance for institutions offering Islamic financial services. The book is of value in describing governance in Islamic institutions and how there are many issues under the investigation process, especially issues related to the Shari'ah Supervisory board and its functionality. One of the objectives of this book is to discuss, and create greater awareness of, some of the crucial issues related to corporate governance in Islamic financial institutions. A second, but in fact more important, objective is to provide, in the light of this discussion, certain essential guidelines to improve corporate governance in these institutions and thereby enable them to not only maintain their momentum of growth and international acceptance but also safeguard the interests of all stakeholders.

Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services

Author : Wafik Grais
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)

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Book Synopsis Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services by : Wafik Grais

Download or read book Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services written by Wafik Grais and published by World Bank Publications. This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The structures and processes established within an institution offering Islamic financial Services (IIFS) for monitoring and evaluating Shariah compliance rely essentially on arrangements internal to the firm. By being incorporated in the institutional structure, a Shariah supervisory board (SSB) has the advantage of being close to the market. Competent, independent, and empowered to approve new Shariah-conforming instruments, an SSB can enable innovation likely to emerge within the institution. The paper reviews the issues and options facing current arrangements for ensuring Shariah compliance by IIFS. It suggests a framework that draws on internal and external arrangements to the firm and emphasizes market discipline. In issuing its fatwas, an SSB could be guided by standardized contracts and practices that could be harmonized by a self-regulatory professionals' association. A framework with the suggested internal and external features could ensure adequate consistency of interpretation and enhance the enforceability of contracts before civil courts. The review of transactions would mainly be entrusted to internal review units, which would collaborate with external auditors responsible for issuing an annual opinion on whether the institution's activities has met its Shariah requirements. This process would be sustained by reputable entities such as rating agencies, stock markets, financial media, and researchers who would channel signals to market players. This framework would enhance public understanding of the requirements of Shariah and lead to more effective options available to stakeholders to achieve improvements in Islamic financial services.

Foundations of Shari'ah Governance of Islamic Banks

Author : Karim Ginena
Publisher : John Wiley & Sons
ISBN 13 : 1118460774
Total Pages : 402 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis Foundations of Shari'ah Governance of Islamic Banks by : Karim Ginena

Download or read book Foundations of Shari'ah Governance of Islamic Banks written by Karim Ginena and published by John Wiley & Sons. This book was released on 2015-04-06 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide for robust sharī'ah governance of the Islamic banking industry Debate in the market on the extent of sharī'ah compliance of Islamic banks, their products, and activities has piqued stakeholders' interest. In Foundations of Sharī'ah Governance of Islamic Banks, Karim Ginena and Azhar Hamid explore the depths of sharī'ah governance to unravel its mysterious dimensions, and equip academics and practitioners with a solid understanding of the subject, which has become a serious challenge and thus deserves dedicated attention. The authors make a strong case for the need to contain the sharī'ah risk that Islamic banks experience, and present a compelling argument for how this should be done. Ginena and Hamid propose a robust sharī'ah governance model that comprehensively tackles thisrisk, and helps improve the extent of sharī'ah compliance of market players. The authors detail the internal, external, and institutional arrangements needed to promote responsible sharī'ah governance, and critically analyze current laws, regulations, and industry practices on the topic. The chapters of the book do the following: Examine the roots, characteristics and objectives of sharī'ah and its relation to financial dealings; Probe the role of regulators in sharī'ah governance, explore the different approaches adopted by banking supervisors, and provide examples of relevant legal and regulatory measures; Explain to bank directors and management the fiduciary duty they assume with respect to sharī'ah compliance, and detail how they could discharge this responsibility in line with best practices; Elaborate on the purpose of the Sharī'ah Supervisory Board (SSB), its responsibilities, competence criteria, internal regulations, and key governance guidelines; additionally, they explore different SSB models; Describe the internal sharī'ah control system including its six components, and examine the internal sharī'ah audit function as well as different stages of conducting a sharī'ah audit; Clarify the role of a sharī'ah auditor, with guidance on reporting lines, scope of duties, authority, and practical ways on fulfilling tasks, such as a sample sharī'ah risk assessment grid and audit checklists; Discuss the newly emerging external sharī'ah advisory firms that are expected to play a key role in the coming years and the services they provide. Through an effective treatment of each of these elements, and the way that they interact with one another, the book offers a fresh take on how robust sharī'ah governance of Islamic banks can be successfully accomplished. It is a comprehensive resource for academics, regulators, directors, lawyers, auditors, consultants, employees, and customers of Islamic banks interested in learning more about these challenges. This essential reading persuasively extends the discourse on the subject and addresses critical sharī'ah issues that have policy implications for decision makers in jurisdictions aiming to attract the fast-growing Islamic finance industry or increase their market share.

Corporate Governance - Quantity Versus Quality - Middle Eastern Perspective

Author : Saleh Hussain
Publisher : eBookIt.com
ISBN 13 : 1456603957
Total Pages : 207 pages
Book Rating : 4.4/5 (566 download)

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Book Synopsis Corporate Governance - Quantity Versus Quality - Middle Eastern Perspective by : Saleh Hussain

Download or read book Corporate Governance - Quantity Versus Quality - Middle Eastern Perspective written by Saleh Hussain and published by eBookIt.com. This book was released on 2013-02 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: The books deal with various issues relating to Corporate Governance "CG" from a Middle Eastern Perspective with emphasis on Quantity Versus Quality. The books covers the following topics: - CG Quantity Versus Quality - CG for Government Companies - CG for Family businesses -Corporate Social Responsibility -CG in Islamic Banking -CG and Democracy -Board Committees -Directors compensation The books gives ways and means to apply best practices in Corporate Governance.

Corporate Governance In Islamic Finance Basic Concepts And Issues

Author : Hussein Elasrag
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659571381
Total Pages : 104 pages
Book Rating : 4.5/5 (713 download)

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Book Synopsis Corporate Governance In Islamic Finance Basic Concepts And Issues by : Hussein Elasrag

Download or read book Corporate Governance In Islamic Finance Basic Concepts And Issues written by Hussein Elasrag and published by LAP Lambert Academic Publishing. This book was released on 2014-07-07 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the objectives of this book is to discuss, and create greater awareness of, some of the crucial issues related to corporate governance in Islamic financial institutions. A second, but in fact more important, objective is to provide, in the light of this discussion, certain essential guidelines to improve corporate governance in these institutions and thereby enable them to not only maintain their momentum of growth and international acceptance but also safeguard the interests of all stakeholders. The paper gives particular attention to the mechanisms for corporate governance, including the Board of Directors, Senior Management, shareholders, depositors, and regulatory and supervisory authorities. It also focuses on the effective management of risks and, in particular, on creating a supporting environment through moral uplift, social, legal and institutional checks, greater transparency, internal controls, and Shari'a as well as external audit. The paper also indicates briefly the shared institutions that are needed for effective corporate governance.

A Mini Guide to Shari'ah Audit for Islamic Financial Institutions - A Primer

Author : Syed Alwi Mohamed Sultan
Publisher : CERT Publications Sdn Bhd
ISBN 13 : 9834278578
Total Pages : 166 pages
Book Rating : 4.8/5 (342 download)

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Book Synopsis A Mini Guide to Shari'ah Audit for Islamic Financial Institutions - A Primer by : Syed Alwi Mohamed Sultan

Download or read book A Mini Guide to Shari'ah Audit for Islamic Financial Institutions - A Primer written by Syed Alwi Mohamed Sultan and published by CERT Publications Sdn Bhd. This book was released on 2007 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Governance in Islamic Finance

Author : Hussien Elasrag
Publisher :
ISBN 13 : 9781519058454
Total Pages : 102 pages
Book Rating : 4.0/5 (584 download)

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Book Synopsis Corporate Governance in Islamic Finance by : Hussien Elasrag

Download or read book Corporate Governance in Islamic Finance written by Hussien Elasrag and published by . This book was released on 2016-11-21 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is one of few papers that highlight the importance of studying corporate governance for institutions offering Islamic financial services. The book is of value in describing governance in Islamic institutions and how there are many issues under the investigation process, especially issues related to the Shari'ah Supervisory board and its functionality. The Book gives particular attention to the mechanisms for corporate governance, including the Board of Directors, Senior Management, shareholders, depositors, and regulatory and supervisory authorities. It also focuses on the effective management of risks and, in particular, on creating a supporting environment through moral uplift, social, legal and institutional checks, greater transparency, internal controls, and Shari'a as well as external audit.

Corporate Governance and Stakeholders' Financial Interests in Institutions Offering Islamic Financial Services

Author : Wafik Grais
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)

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Book Synopsis Corporate Governance and Stakeholders' Financial Interests in Institutions Offering Islamic Financial Services by : Wafik Grais

Download or read book Corporate Governance and Stakeholders' Financial Interests in Institutions Offering Islamic Financial Services written by Wafik Grais and published by World Bank Publications. This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the corporate governance arrangements of institutions offering Islamic financial services (IIFS) aimed at protecting stakeholders' financial interests. Many IIFS corporate governance issues are common with those of their conventional counterparts. Others are distinctive. In particular they offer unrestricted investment accounts that share risks with shareholders but without a voting right. This paper first reviews internal and external arrangements put in place by IIFS to protect stakeholders' financial interests. It discusses shortcomings notably in terms of potential conflict of interest between shareholders and holders of unrestricted investment accounts. It then suggests a corporate governance framework that combines internal and external arrangements to provide safeguards to unrestricted investment account holders without overburdening IIFS' financial performance. The paper uses a review of 13 IIFS and regulatory information from countries where IIFS have developed the most.

Corporate Governance in Institutions Offering Islamic Financial Services

Author : Wafik Grais
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4./5 ( download)

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Book Synopsis Corporate Governance in Institutions Offering Islamic Financial Services by : Wafik Grais

Download or read book Corporate Governance in Institutions Offering Islamic Financial Services written by Wafik Grais and published by World Bank Publications. This book was released on 2006 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews institutions offering Islamic financial services (IIFS) corporate governance challenges and suggests options to address them. It first points out the importance of corporate governance for IIFS, where it would require a distinct treatment from conventional corporate governance and highlights three cases of distress of IIFS. It then dwells on prevailing corporate governance arrangements addressing IIFS' needs to ensure the consistency of their operations with Islamic finance principles and the protection of the financial interests of a stakeholders' category, namely depositors holding unrestricted investment accounts. It raises the issues of independence, confidentiality, competence, consistency, and disclosure that may bear on pronouncements of consistency with Islamic finance principles. It also discusses the agency problem of depositors holding unrestricted investment accounts. The paper argues for a governance framework that combines internal and external arrangements and relies significantly on transparency and disclosure of market relevant information.

Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services

Author : Wafik Grais
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services by : Wafik Grais

Download or read book Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services written by Wafik Grais and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The structures and processes established within an institution offering Islamic financial Services (IIFS) for monitoring and evaluating Shariah compliance rely essentially on arrangements internal to the firm. By being incorporated in the institutional structure, a Shariah supervisory board (SSB) has the advantage of being close to the market. Competent, independent, and empowered to approve new Shariah-conforming instruments, an SSB can enable innovation likely to emerge within the institution. The paper reviews the issues and options facing current arrangements for ensuring Shariah compliance by IIFS. It suggests a framework that draws on internal and external arrangements to the firm and emphasizes market discipline. In issuing its fatwas, an SSB could be guided by standardized contracts and practices that could be harmonized by a self-regulatory professionals' association. A framework with the suggested internal and external features could ensure adequate consistency of interpretation and enhance the enforceability of contracts before civil courts. The review of transactions would mainly be entrusted to internal review units, which would collaborate with external auditors responsible for issuing an annual opinion on whether the institution's activities has met its Shariah requirements. This process would be sustained by reputable entities such as rating agencies, stock markets, financial media, and researchers who would channel signals to market players. This framework would enhance public understanding of the requirements of Shariah and lead to more effective options available to stakeholders to achieve improvements in Islamic financial services.

Corporate Governance in Islamic Financial Institutions

Author : Muhammad Umer Chapra
Publisher :
ISBN 13 : 9789960321332
Total Pages : 165 pages
Book Rating : 4.3/5 (213 download)

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Book Synopsis Corporate Governance in Islamic Financial Institutions by : Muhammad Umer Chapra

Download or read book Corporate Governance in Islamic Financial Institutions written by Muhammad Umer Chapra and published by . This book was released on 2002 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services

Author : Wafik Grais
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services by : Wafik Grais

Download or read book Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services written by Wafik Grais and published by . This book was released on 2016 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The structures and processes established within an institution offering Islamic financial Services (IIFS) for monitoring and evaluating Shariah compliance rely essentially on arrangements internal to the firm. By being incorporated in the institutional structure, a Shariah supervisory board (SSB) has the advantage of being close to the market. Competent, independent, and empowered to approve new Shariah-conforming instruments, an SSB can enable innovation likely to emerge within the institution. The paper reviews the issues and options facing current arrangements for ensuring Shariah compliance by IIFS. It suggests a framework that draws on internal and external arrangements to the firm and emphasizes market discipline. In issuing its fatwas, an SSB could be guided by standardized contracts and practices that could be harmonized by a self-regulatory professionals' association. A framework with the suggested internal and external features could ensure adequate consistency of interpretation and enhance the enforceability of contracts before civil courts. The review of transactions would mainly be entrusted to internal review units, which would collaborate with external auditors responsible for issuing an annual opinion on whether the institution's activities has met its Shariah requirements. This process would be sustained by reputable entities such as rating agencies, stock markets, financial media, and researchers who would channel signals to market players. This framework would enhance public understanding of the requirements of Shariah and lead to more effective options available to stakeholders to achieve improvements in Islamic financial services.

Monetary Policy, Islamic Finance, and Islamic Corporate Governance

Author : Toseef Azid
Publisher : Emerald Group Publishing
ISBN 13 : 1800437862
Total Pages : 376 pages
Book Rating : 4.8/5 (4 download)

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Book Synopsis Monetary Policy, Islamic Finance, and Islamic Corporate Governance by : Toseef Azid

Download or read book Monetary Policy, Islamic Finance, and Islamic Corporate Governance written by Toseef Azid and published by Emerald Group Publishing. This book was released on 2021-06-16 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International overview explores the interrelationships between corporate governance from the perspective of shari’ah, banking industry and monetary policy and is a must-read for students and professionals.

Shariah Governance in Islamic Banking Institutions

Author : Shafiullah Jan
Publisher : Taylor & Francis
ISBN 13 : 1000899349
Total Pages : 191 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Shariah Governance in Islamic Banking Institutions by : Shafiullah Jan

Download or read book Shariah Governance in Islamic Banking Institutions written by Shafiullah Jan and published by Taylor & Francis. This book was released on 2023-07-04 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shariah governance assumes the primary instrument through which Islamic Banking Institutions (IBIs) ensure the Islamicity of their products, services, operations, and internal environments. It is considered to be one the fundamental elements that differentiates IBIs from their traditional counterparts. Shariah Governance in Islamic Banking Institutions provides a critical overview of the key aspects pertaining to Shariah governance within Islamic financial institutions and presents a detailed analysis of its conceptual background. The authors have identified the unique issues that have emerged due to the integration of Shariah, namely the involvement of the Shariah supervisory board (SSB), in the corporate governance arrangements of Islamic banks. These issues relate to disclosure, transparency, independency, consistency, confidentiality, competency, and reputation. The book details the doctrines of Shariah pronouncements in Islamic banks, the importance of having a central advisory board at a regulatory level in the standardization of Islamic banking practices, as well as the competence required for Shariah supervisory board members. It provides a critical analysis of the Shariah governance framework in Pakistan and introduces the authors’ vision of an ideal Shariah governance framework. Furthermore, the chapters offer guidance in promoting effective policies for improving Shariah governance. This is one of the core challenges facing Islamic banks, namely, to ensure compliance with faith and provide legitimacy to the business of IBIs, and as such, the book will appeal to both the research and professional communities.

Edinburgh Companion to Shari'ah Governance in Islamic Finance

Author : Ali Syed Nazim Ali
Publisher : Edinburgh University Press
ISBN 13 : 1474436021
Total Pages : 640 pages
Book Rating : 4.4/5 (744 download)

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Book Synopsis Edinburgh Companion to Shari'ah Governance in Islamic Finance by : Ali Syed Nazim Ali

Download or read book Edinburgh Companion to Shari'ah Governance in Islamic Finance written by Ali Syed Nazim Ali and published by Edinburgh University Press. This book was released on 2020-03-18 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a group of prominent shari'ah scholars, academics and practitioners in the field of Islamic finance, this book contains 17 in-depth case studies of shari'ah governance practices and experiences as well as critical analysis of these practices. It serves as a standalone comprehensive reference work on shari'ah governance, containing an overview of its Islamic legal foundations, its evolution and development over the years, current practices and debates on shari'ah governance standards and future prospects for shari'ah governance in the global Islamic finance market.