Corporate governance and effective dispute management in Islamic financial institutions

The increasing growth of the Islamic finance industry and the proliferation of Islamic financial products in the global economy necessitate a framework for managing corporate disputes arising from internal differences and contractual relationships with third parties, particularly in banker customer...

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Main Authors:	Oseni, Umar Aimhanosi, Ansari, Abdul Haseeb, Kadouf, Hunud Abia
Format:	Article
Language:	English
Published:	INSI Publications 2012
Subjects:	K Law (General) KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning.
Online Access:	http://irep.iium.edu.my/27858/ http://irep.iium.edu.my/27858/ http://irep.iium.edu.my/27858/1/Corporate_Governance_and_Effective_Dispute_Management_in_IFIs.pdf

id	iium-27858
recordtype	eprints
spelling	iium-278582013-07-14T06:59:22Z http://irep.iium.edu.my/27858/ Corporate governance and effective dispute management in Islamic financial institutions Oseni, Umar Aimhanosi Ansari, Abdul Haseeb Kadouf, Hunud Abia K Law (General) KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. The increasing growth of the Islamic finance industry and the proliferation of Islamic financial products in the global economy necessitate a framework for managing corporate disputes arising from internal differences and contractual relationships with third parties, particularly in banker customer relationships. Quality management in Islamic financial institutions can be sustained through appropriate measures in managing such disputes effectively through some Sharī'ah-based mechanisms. This study examines corporate governance and dispute effective dispute management within the framework of Islamic financial institutions and the need to revive the administrative dispute resolution office of muhtasib (ombudsman). The study presents a model for fusing such an independent office into the corporate structure of the financial institutions in order to promote effective governance. It is argued that instead of litigating petty claims against the financial institutions, the internal mechanism of muhtasib should be able to resolve such claims amicably without unnecessary escalation into full blown disputes. The paper concludes that such an office, which serves the purpose of corporate self regulation integrated into the corporate structure of the financial institution, will promote sustainable excellence. INSI Publications 2012 Article PeerReviewed application/pdf en http://irep.iium.edu.my/27858/1/Corporate_Governance_and_Effective_Dispute_Management_in_IFIs.pdf Oseni, Umar Aimhanosi and Ansari, Abdul Haseeb and Kadouf, Hunud Abia (2012) Corporate governance and effective dispute management in Islamic financial institutions. Australian Journal of Basic and Applied Sciences, 6 (11). pp. 361-369. ISSN 1991-8178 http://www.ajbasweb.com/ajbas_Special%20issue_2012.html
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General) KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning.
spellingShingle	K Law (General) KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. Oseni, Umar Aimhanosi Ansari, Abdul Haseeb Kadouf, Hunud Abia Corporate governance and effective dispute management in Islamic financial institutions
description	The increasing growth of the Islamic finance industry and the proliferation of Islamic financial products in the global economy necessitate a framework for managing corporate disputes arising from internal differences and contractual relationships with third parties, particularly in banker customer relationships. Quality management in Islamic financial institutions can be sustained through appropriate measures in managing such disputes effectively through some Sharī'ah-based mechanisms. This study examines corporate governance and dispute effective dispute management within the framework of Islamic financial institutions and the need to revive the administrative dispute resolution office of muhtasib (ombudsman). The study presents a model for fusing such an independent office into the corporate structure of the financial institutions in order to promote effective governance. It is argued that instead of litigating petty claims against the financial institutions, the internal mechanism of muhtasib should be able to resolve such claims amicably without unnecessary escalation into full blown disputes. The paper concludes that such an office, which serves the purpose of corporate self regulation integrated into the corporate structure of the financial institution, will promote sustainable excellence.
format	Article
author	Oseni, Umar Aimhanosi Ansari, Abdul Haseeb Kadouf, Hunud Abia
author_facet	Oseni, Umar Aimhanosi Ansari, Abdul Haseeb Kadouf, Hunud Abia
author_sort	Oseni, Umar Aimhanosi
title	Corporate governance and effective dispute management in Islamic financial institutions
title_short	Corporate governance and effective dispute management in Islamic financial institutions
title_full	Corporate governance and effective dispute management in Islamic financial institutions
title_fullStr	Corporate governance and effective dispute management in Islamic financial institutions
title_full_unstemmed	Corporate governance and effective dispute management in Islamic financial institutions
title_sort	corporate governance and effective dispute management in islamic financial institutions
publisher	INSI Publications
publishDate	2012
url	http://irep.iium.edu.my/27858/ http://irep.iium.edu.my/27858/ http://irep.iium.edu.my/27858/1/Corporate_Governance_and_Effective_Dispute_Management_in_IFIs.pdf
first_indexed	2023-09-18T20:41:16Z
last_indexed	2023-09-18T20:41:16Z
_version_	1777409381539774464

Corporate governance and effective dispute management in Islamic financial institutions

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