A practical guide for robust shar 'ah governance of the Islamic
banking industry Debate in the market on the extent of shar 'ah
compliance of Islamic banks, their products, and activities has
piqued stakeholders' interest. In Foundations of Shar 'ah
Governance of Islamic Banks, Karim Ginena and Azhar Hamid explore
the depths of shar '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 shar 'ah risk that Islamic banks
experience, and present a compelling argument for how this should
be done. Ginena and Hamid propose a robust shar 'ah governance
model that comprehensively tackles thisrisk, and helps improve the
extent of shar 'ah compliance of market players. The authors detail
the internal, external, and institutional arrangements needed to
promote responsible shar '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 shar 'ah and its relation to
financial dealings; * Probe the role of regulators in shar '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 shar 'ah compliance, and detail
how they could discharge this responsibility in line with best
practices; * Elaborate on the purpose of the Shar 'ah Supervisory
Board (SSB), its responsibilities, competence criteria, internal
regulations, and key governance guidelines; additionally, they
explore different SSB models; * Describe the internal shar 'ah
control system including its six components, and examine the
internal shar 'ah audit function as well as different stages of
conducting a shar 'ah audit; * Clarify the role of a shar 'ah
auditor, with guidance on reporting lines, scope of duties,
authority, and practical ways on fulfilling tasks, such as a sample
shar 'ah risk assessment grid and audit checklists; * Discuss the
newly emerging external shar '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 shar '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 shar
'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.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
