Corporate Governance In Institutions Offering Islamic Financial Services : Issues And Options

Wafik M. Grais

165 citations0/0 files storedWorld Bank, Washington, DC eBooks

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Islamic Finance and Banking Studies Corporate Finance and Governance Corporate Governance and Financial Management

Abstract

This paper reviews Institutions Offering Islamic Financial Services (IIFS) corporate governance (CG) challenges and suggests options to address them.It first points out the importance of CG for IIFS, where it would require a distinct treatment from convention CG and highlights three cases of distress of IIFS.It then dwells on prevailing CG 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.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 165 citations exist upstream.

References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1983Separation of Ownership and Control 1997A Survey of Corporate Governance 1970Exit, Voice and Loyalty: Responses to Decline in Firms, Organizations, and States.1980Agency Problems and the Theory of the Firm 1983Agency Problems and Residual Claims 1996Theory of the firm; managerial Behavior, Agency Costs, and Ownership Structure 1998Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure

Cited by

2014Corporate Governance in Islamic Financial Institutions 2013Shariah supervisory system in Islamic financial institutions 2017Corporate governance: evidence from Islamic banks 2017Religiosity versus rationality: Depositor behavior in Islamic and conventional banks 2018Do board characteristics affect bank performance? Evidence from the Bahrain Islamic banks 2012Introduction to corporate governance from Islamic perspective

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.