Shariah Governance in Islamic Banking Institutions

Shariah governance is a critical element that differentiates Islamic Banking Institutions (IBIs) from their traditional counterparts. It ensures the Islamicity of products, services, operations, and internal environments. The book provides a comprehensive overview of the key aspects of Shariah governance and offers a detailed analysis of its conceptual background. It also discusses the unique issues that have emerged due to the integration of Shariah, such as the involvement of the Shariah supervisory board (SSB) in the corporate governance arrangements of Islamic banks. The book details the doctrines of Shariah pronouncements in Islamic banks, the importance of having a central advisory board at a regulatory level, and 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. The chapters offer guidance in promoting effective policies for improving Shariah governance, making it a valuable resource for both the research and professional communities.

Format: Hardback
Length: 179 pages
Publication date: 04 July 2023
Publisher: Taylor & Francis Ltd

Shariah governance plays a pivotal role in ensuring the Islamicity of Islamic Banking Institutions (IBIs) by overseeing their products, services, operations, and internal environments. It stands as a fundamental element that distinguishes IBIs from their traditional counterparts. In this comprehensive book, the authors delve into the intricate details of Shariah governance within Islamic financial institutions. They identify the unique challenges that arise from integrating Shariah principles into corporate governance arrangements, particularly concerning the involvement of the Shariah supervisory board (SSB). These challenges encompass areas such as disclosure, transparency, independence, consistency, confidentiality, competency, and reputation. The authors provide a detailed examination of Shariah doctrines and their application in Islamic banks, emphasizing the significance of establishing a central advisory board at a regulatory level to standardize Islamic banking practices. They also shed light on the qualifications and competencies required for Shariah supervisory board members.

The book offers a critical analysis of the Shariah governance framework in Pakistan and presents the authors' vision of an ideal Shariah governance framework. Furthermore, the chapters provide valuable guidance in promoting effective policies for enhancing Shariah governance.

This book is of utmost importance to both the research and professional communities, as it addresses one of the core challenges facing Islamic banks: ensuring compliance with faith and providing legitimacy to their business operations. By delving into the intricacies of Shariah governance, the book offers valuable insights and practical solutions for the development and growth of Islamic banking.

Weight: 512g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032350011