Download or read book Is Corporate Governance Different for Islamic Banks A Comparative Analysis Between the Gulf Cooperation Council and Southeast Asian Countries written by Rihab Grassa and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic banks are particular financial institutions which generate distinct corporate governance challenges. This study compares the corporate governance attributes between Islamic and conventional banks in the Gulf Cooperation Council (GCC) and in Southeast Asian countries. Moreover, this paper studies the impact of relevant corporate governance variables on the Islamic banks' performance. The sample included 77 large Islamic banks and 85 conventional banks observed over the period 2000-2009. Our findings revealed that there were several divergences between the corporate governance characteristics of Islamic banks and those of conventional banks. These differences originated mainly from the ethical aspects dominating the activities of Islamic banks and the regulatory environment in which they operate. Moreover, we found that board fee, CEO duality and CEO age had a significantly positive effect on the Islamic banks' performance. However, the Shariah board characteristics seemed to be a value creator for Islamic banks.
Download or read book Corporate Governance of Islamic Banks written by Rihab Grassa and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose - This paper aims to understand the current governance practices and governance structure of Islamic banks (IBs) in Gulf Cooperation Council (GCC) and Southeast Asia countries with the purpose of providing relevant information in guiding the future development of the governance system for IBs. As well, the paper discusses and compares the state of the governance system in GCC countries (Kuwait, Bahrain, United Arab Emirates, Qatar and Saudi Arabia) and Southeast Asia countries (Malaysia and Indonesia). Design/methodology/approach - The study utilizes descriptive analysis approach in extracting and analyzing data collected for 83 IBs observed for the period 2002-2011. The authors test for differences in means and medians of corporate governance attributes between a sample of IBs in GCC countries and another one for Southeast Asia countries. They use selected variables of corporate governance of different governance structures, namely, the ownership structure, the board of directors, the Shariah board and the CEO attributes. Findings - The paper findings argue that there are significant differences and divergence of corporate governance structure of IBs in GCC countries and those in Southeast Asia countries. This position acknowledges that there are shortcomings to the existing governance framework for IBs which needs further improvement and standardization. Practical implications - The paper is a very useful source of information that may provide relevant guidelines in guiding the future development of corporate governance of IBs. As well, the paper provides relevant guidelines for improving regulations and laws covering the governance of IBs. Originality/value - This paper provides fresh data and recent information on the actual corporate governance system in IBs in GCC and Southeast Asia countries. As well, the paper discusses a significant shortage in corporate governance literature of Islamic finance.
Download or read book Corporate Governance and Bank Performance written by Abdelaziz Chazi and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using an exhaustive sample of banks in the Gulf Cooperation Council region, in the years 2007 to 2009, this research examines the relative operating performance and risk-taking behavior of Islamic and non-Islamic banks during the global financial crisis and the role played by their corporate governance characteristics. The results show that, during the crisis, assets of Islamic banks outperformed those of non-Islamic banks significantly. Islamic banks also exhibited a more prudent risk-management behavior and higher solvency than non-Islamic banks. Moreover, consistent with the notion of the importance of corporate governance, asset-productivity at Islamic banks is significantly increasing in family- and foreign-ownership and the effectiveness of the legal system and investor protection, and it is decreasing in board size and insiders. Furthermore, risk-taking behavior at Islamic banks is decreasing in government- and family-ownership and the investor-protection level in the home country.
Download or read book Shari ah Governance in Islamic Banks written by Zulkifli Hasan and published by Edinburgh University Press. This book was released on 2012-07-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth and insightful study of Shari'ah governance from a theoretical and practical perspective
Download or read book Research in Corporate and Shari ah Governance in the Muslim World written by Toseef Azid and published by Emerald Group Publishing. This book was released on 2019-05-20 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in Corporate and Shari'ah Governance in the Muslim World: Theory and Practice aims to address a critical disciplinary gap between Islamic theory and the practice of the corporate sector in the Muslim World. Adopting a critical approach, the book sheds light on the impact of corporate governance on the economies of the Muslim world.
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.
Download or read book Monetary Operations and Islamic Banking in the GCC written by Ms.Ritu Basu and published by International Monetary Fund. This book was released on 2015-11-12 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The assessment provides evidence of market segmentation across Islamic and conventional banks in the Gulf Cooperation Council (GCC), leading to excess liquidity, and an uneven playing field for Islamic banks that might affect their growth. Liquidiy management has been a long-standing concern in the global Islamic finance industry as there is a general lack of Shari’ah compliant instruments than can serve as high-quality short-term liquid assets. The degree of segmentation and bank behavior varies across countries depending on Shari’ah permissibility and the availability of Shari’ah-compliant instruments. A partial response would be to support efforts to build Islamic liquid interbank and money markets, which are crucial for monetary policy transmission through the Islamic financial system.This can be achieved, to a large extent, by deepening Islamic government securities and developing Shari’ah-compliant money market instruments.
Download or read book Recent Developments in Asian Economics written by William A. Barnett and published by Emerald Group Publishing. This book was released on 2021-03-01 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent Developments in Asian Economics is a crucial resource of current, cutting-edge research for any scholar of international finance and economics. Chapters cover a wide range of topics, such as social welfare systems, organizational culture, sustainability, the impact of economic policy uncertainty, and more.
Download or read book Fatwas in Islamic Banking written by Mohamad Akram Laldin and published by . This book was released on 2012 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 2015-03-09 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.
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.
Download or read book The Developing Role of Islamic Banking and Finance written by Fouad H. Beseiso and published by Emerald Group Publishing. This book was released on 2014-07-10 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume highlights a vital developmental stage of Islamic Banking and Finance, focusing on regulatory aspects, regional case studies and International Financial Crisis impacts. It aims to help decision makers identify key factors for the real, sustained development of the Islamic Banking System, nationally, regionally and internationally.
Download or read book Islamic Development Management written by Noor Zahirah Mohd Sidek and published by Springer. This book was released on 2019-07-10 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines a range of current issues in Islamic development management. The first part of the book explores practical issues in governance and the application of Islamic governance in new areas such as quality management systems and the tourism industry, while the second delves into questions of sustainability. The book proposes a new Islamic sustainability and offers new perspectives on CSR in connection with waqf (Islamic endowments) and microfinance. The third part of the book addresses Islamic values and how they are applied in entrepreneurship, inheritance, consumer behavior and marketing. The fourth part examines the issues of waqf and takaful (a form of insurance in line with the Islamic laws), while the fifth discusses the fiqh (the study of Islamic legal codes) and legal framework from the perspectives of entrepreneurship, higher education, reporting and inheritance (wills). The final chapter is dedicated to the application of Islamic principles in various other issues. Written in an accessible style, the book will appeal to newcomers to the field, as well as researchers and academics with an interest in Islamic development management.
Download or read book The AI Revolution Driving Business Innovation and Research written by Bahaa Awwad and published by Springer Nature. This book was released on with total page 1066 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Islamic Financial Institutions Corporate Governance and Corporate Risk Disclosure in Gulf Cooperation Council Countries written by Abed Al-Nasser Abdallah and published by . This book was released on 2015 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using content analysis we evaluate the determinants of corporate risk disclosure in a sample of 424 publicly traded firms in the Gulf Cooperation Council countries. We hypothesize that corporate risk disclosure will be lower in Islamic financial institutions when compared to conventional financial institutions and higher in firms that have high quality corporate governance contexts. We also argue that corporate risk disclosure will vary across the Gulf Cooperation Council countries despite sociocultural and regulatory similarities. Results are generally supportive of our hypotheses. Implications for theory and practice are discussed.
Download or read book Recent Developments in Financial Management and Economics written by Derbali, Abdelkader Mohamed Sghaier and published by IGI Global. This book was released on 2024-03-18 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of Financial Management & Economics (FME) is constantly adapting to the changing economic landscape, observing the ongoing developments in the global business environment. These shifting dynamics have introduced a variety of influences, both fleeting and enduring, that deeply affect the decision-making foundations within the business arena. Researchers are tasked with shedding light on the bigger picture, capturing the essence of both subtle and significant shifts. As they confront unprecedented challenges, the imperative to document and comprehend these transformations resonates more urgently than ever before. Recent Developments in Financial Management and Economics is a work that beckons academics, researchers, and industry professionals to engage in the exploration of these changes. This book has a singular objective: to provide professionals, academics, and researchers with new theoretical frameworks and the latest empirical research findings. The book focuses on trust as a key driver, influencing different levels of Financial Management & Economics. It explores trust across the global economy and individual interactions in networked settings, offering guidance for navigating the complexities of today's interconnected financial and economic systems.
Download or read book Corporate Governance in Islamic Banks written by Karime Mimoun and published by Grin Publishing. This book was released on 2009-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2009 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 2,1, University of the West of England, Bristol, language: English, abstract: Abstract: Islamic banking is a fast growing finance sector with a growth rate of 15% p.a. and assets value over 200 Billion Dollars. Through the renaissance of Islam it is anticipated that in the next 10 years 40-50% of all Muslim savings will be placed in Islamic financial institutions (Zaher and Hassan, 2002). This trend is international recognised and conventional western banks like Citibank, Deutsche Bank and ABN Amro offer already Islamic banking products. Additionally, large international corporations such as GM, IBM and Dewoo use services offered by Islamic financial institutions (Haron and Ahmad, 2000). The in theory praised model of Profit and Loss Sharing faces in reality principal-agency challenges on the asset side of Islamic banks. This paper analyses the complex agency-problem of Islamic banks through their altered capital structure and investment rules whereby the depositors as quasi-shareholder are not matter of corporate governance. The paper examines the consequences and offers a collection of existing alternatives in the literature to handle this agency-problem.
