Download Foundations of Shari'ah Governance of Islamic Banks by Karim Ginena, Azhar Hamid PDF

By Karim Ginena, Azhar Hamid

A functional consultant for powerful sharī'ah governance of the Islamic banking industry

Debate available in the market at the volume of sharī'ah compliance of Islamic banks, their items, and actions has piqued stakeholders' curiosity. In Foundations of Sharī'ah Governance of Islamic Banks, Karim Ginena and Azhar Hamid discover the depths of sharī'ah governance to solve its mysterious dimensions, and equip lecturers and practitioners with an effective knowing of the topic, which has turn into a major problem and therefore merits committed attention.

The authors make a powerful case for the necessity to comprise the sharī'ah possibility that Islamic banks event, and current a compelling argument for a way this could be performed. Ginena and Hamid suggest a powerful sharī'ah governance version that comprehensively tackles thisrisk, and is helping enhance the level of sharī'ah compliance of industry avid gamers. The authors aspect the inner, exterior, and institutional preparations had to advertise accountable sharī'ah governance, and seriously study present legislation, rules, and practices at the subject. The chapters of the e-book do the following:

  • Examine the roots, features and ambitions of sharī'ah and its relation to monetary dealings;
  • Probe the function of regulators in sharī'ah governance, discover the several techniques followed through banking supervisors, and supply examples of proper criminal and regulatory measures;
  • Explain to financial institution administrators and administration the fiduciary responsibility they suppose with admire to sharī'ah compliance, and element how they can discharge this accountability in accordance with most sensible practices;
  • Elaborate at the function of the Sharī'ah Supervisory Board (SSB), its obligations, competence standards, inner laws, and key governance instructions; also, they discover diverse SSB models;
  • Describe the inner sharī'ah regulate procedure together with its six elements, and consider the inner sharī'ah audit functionality in addition to diverse phases of undertaking a sharī'ah audit;
  • Clarify the function of a sharī'ah auditor, with counsel on reporting strains, scope of tasks, authority, and functional methods on pleasant projects, similar to a pattern sharī'ah probability evaluate grid and audit checklists;
  • Discuss the newly rising exterior sharī'ah advisory companies which are anticipated to play a key position within the coming years and the prone they provide.

Through a good remedy of every of those components, and how that they have interaction with each other, the ebook deals a clean tackle how powerful sharī'ah governance of Islamic banks may be effectively comprehensive. it's a complete source for lecturers, regulators, administrators, legal professionals, auditors, experts, staff, and consumers of Islamic banks attracted to studying extra approximately those demanding situations. This crucial studying persuasively extends the discourse at the topic and addresses severe sharī'ah concerns that experience coverage implications for selection makers in jurisdictions aiming to draw the fast-growing Islamic finance or raise their marketplace share.

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Extra resources for Foundations of Shari'ah Governance of Islamic Banks

Sample text

102 Al-Bukhari, Ṣaḥīḥ Al-Bukhari, 3rd edn, Vol. ūl al-fiqh al-islāmi, 2nd edn, 470–471. 104 Jurists usually discuss the onerousness of acts when discussing this condition. They do so to differentiate between bearable and unbearable difficulty. Bearable difficulty is one that is within the means of the mukallaf. Just as a mukallaf has to exert effort to earn an income, the person has to persevere to perform ḥajj, to fast in Ramadan, and to perfect the daily prayers. The Divine vowed to test humankind to differentiate between the successful and unsuccessful: “Indeed, We created man from a sperm-drop mixture that We may try him” (76:2).

102 Al-Bukhari, Ṣaḥīḥ Al-Bukhari, 3rd edn, Vol. ūl al-fiqh al-islāmi, 2nd edn, 470–471. 104 Jurists usually discuss the onerousness of acts when discussing this condition. They do so to differentiate between bearable and unbearable difficulty. Bearable difficulty is one that is within the means of the mukallaf. Just as a mukallaf has to exert effort to earn an income, the person has to persevere to perform ḥajj, to fast in Ramadan, and to perfect the daily prayers. The Divine vowed to test humankind to differentiate between the successful and unsuccessful: “Indeed, We created man from a sperm-drop mixture that We may try him” (76:2).

492–497; Nyazee, Islamic Jurisprudence, 125–140; Kamali, Principles of Islamic Jurisprudence, 450–452. 52 Al-Zuhayli, Alwajīz fī us. ūl al-fiqh al-islāmi, 2nd edn, Vol. 1, 20. 53 Kamali, Shari’ah Law: An introduction, 42. , 42. 57 There is a second part of fiqh that consists of texts that have definite authenticity and linguistic meaning (qat‘i al-thubūt wa al-dalālah) such as the details of worship rituals. 58 Referring back to the definition of fiqh mentioned earlier, the word “detailed” confines this process to specific references from the Qur’ān and sunnah.

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