Is Shari'ah corporate governance framework necessary for Islamic capital market?

Is Shari'ah corporate governance framework necessary for Islamic capital market?

Islamic finance industry has rapidly penetrating into both Muslim and non-Muslim countries since a last few decades. Islamic finance industry comprises of the Islamic banking, Takaful and Islamic capital market. These three main industries are interrelated and dependent on each other in order to ens...

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Main Authors: Htay, Sheila Nu Nu, Syed, Ahmed Salman
Format: Conference or Workshop Item
Language:English
English
Published: 2013
Subjects:
HG1501 Banking
Online Access:http://irep.iium.edu.my/32894/
http://irep.iium.edu.my/32894/1/Is_Shari%E2%80%99ah_Corporate_Governance_Framework_Necessary_for_Islamic_Capital_Market.pdf
http://irep.iium.edu.my/32894/2/17.pdf
id iium-32894
recordtype eprints
spelling iium-328942013-11-20T07:27:46Z http://irep.iium.edu.my/32894/ Is Shari'ah corporate governance framework necessary for Islamic capital market? Htay, Sheila Nu Nu Syed, Ahmed Salman HG1501 Banking Islamic finance industry has rapidly penetrating into both Muslim and non-Muslim countries since a last few decades. Islamic finance industry comprises of the Islamic banking, Takaful and Islamic capital market. These three main industries are interrelated and dependent on each other in order to ensure that the whole Islamic financial system is in compliance with the Islamic principles. Among these three streams of the service industry, the Islamic capital market plays an important role to support the other two industries. Among the countries which support Islamic finance industry, Malaysia is trying to be the hub of Islamic finance and it has issued the Shari’ah Governance Framework (SGF) specifically for Islamic banking sector under the supervision of the Central Bank of Malaysia. It mainly focuses on Islamic banking and Takaful, not Islamic capital market. This capital market is operating under Security Commission. Hence, the objective of this research is to investigate on whether there is a need for a comprehensive Shari’ah governance framework focused on Islamic capital market. This research is based on the library research by reviewing the selected literature. The findings suggest that in the case of Islamic Shari’ah corporate governance, its source of ruling is originated and based on the Islamic teaching. Islamic accountability should be always in the heart of corporate players and their decisions should be focused not only on the shareholders but also for the other stakeholders within the framework of Shari’ah. This paper will be the interest of the investors, market players and regulators. 2013-10 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/32894/1/Is_Shari%E2%80%99ah_Corporate_Governance_Framework_Necessary_for_Islamic_Capital_Market.pdf application/pdf en http://irep.iium.edu.my/32894/2/17.pdf Htay, Sheila Nu Nu and Syed, Ahmed Salman (2013) Is Shari'ah corporate governance framework necessary for Islamic capital market? In: International Conference on Islamic Finance Muamalat and Financial Criminology (IFMFC), 23-24 Oct 2013, Grand Caprice FRestaurant, Lim Ket Kai Centre, Cagayan de Oro City, Philippines. (Unpublished)
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
English
topic HG1501 Banking
spellingShingle HG1501 Banking
Htay, Sheila Nu Nu
Syed, Ahmed Salman
Is Shari'ah corporate governance framework necessary for Islamic capital market?
description Islamic finance industry has rapidly penetrating into both Muslim and non-Muslim countries since a last few decades. Islamic finance industry comprises of the Islamic banking, Takaful and Islamic capital market. These three main industries are interrelated and dependent on each other in order to ensure that the whole Islamic financial system is in compliance with the Islamic principles. Among these three streams of the service industry, the Islamic capital market plays an important role to support the other two industries. Among the countries which support Islamic finance industry, Malaysia is trying to be the hub of Islamic finance and it has issued the Shari’ah Governance Framework (SGF) specifically for Islamic banking sector under the supervision of the Central Bank of Malaysia. It mainly focuses on Islamic banking and Takaful, not Islamic capital market. This capital market is operating under Security Commission. Hence, the objective of this research is to investigate on whether there is a need for a comprehensive Shari’ah governance framework focused on Islamic capital market. This research is based on the library research by reviewing the selected literature. The findings suggest that in the case of Islamic Shari’ah corporate governance, its source of ruling is originated and based on the Islamic teaching. Islamic accountability should be always in the heart of corporate players and their decisions should be focused not only on the shareholders but also for the other stakeholders within the framework of Shari’ah. This paper will be the interest of the investors, market players and regulators.
format Conference or Workshop Item
author Htay, Sheila Nu Nu
Syed, Ahmed Salman
author_facet Htay, Sheila Nu Nu
Syed, Ahmed Salman
author_sort Htay, Sheila Nu Nu
title Is Shari'ah corporate governance framework necessary for Islamic capital market?
title_short Is Shari'ah corporate governance framework necessary for Islamic capital market?
title_full Is Shari'ah corporate governance framework necessary for Islamic capital market?
title_fullStr Is Shari'ah corporate governance framework necessary for Islamic capital market?
title_full_unstemmed Is Shari'ah corporate governance framework necessary for Islamic capital market?
title_sort is shari'ah corporate governance framework necessary for islamic capital market?
publishDate 2013
url http://irep.iium.edu.my/32894/
http://irep.iium.edu.my/32894/1/Is_Shari%E2%80%99ah_Corporate_Governance_Framework_Necessary_for_Islamic_Capital_Market.pdf
http://irep.iium.edu.my/32894/2/17.pdf
first_indexed 2023-09-18T20:47:30Z
last_indexed 2023-09-18T20:47:30Z
_version_ 1777409773647429632

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