Shari'ah Governance in Islamic Banks

Author approved Edinburgh Guides to Islamic Finance Series Editor: Rodney Wilson Edinburgh Guides to Islamic Finance is a series of short guides to key areas in Islamic finance, offering an independent academic perspective and a critical treatment. Shari'ah governance has a profound influence on the day-to-day practice of Islamic Financial Institutions (IFIs) and each jurisdiction has adopted a different approach to developing a governance framework. This book reviews these pluralistic approaches in order to identify and highlight best practice. It covers the following aspects: * the theoretical aspects of corporate and Shari'ah governance * the regulatory framework for Shari'ah governance * Shari'ah governance approaches * the role of the Shari'ah Board and the mechanisms for ensuring its independence, transparency and competence * operational procedures of Shari'ah governance * an assessment of Shari'ah governance practices Examples, case studies and practical discussions based on IFIs in Malaysia, GCC countries (Bahrain, UAE, Qatar, Kuwait and Saudi Arabia) and the UK enliven the text. Zulkifli Hasan is a Senior Lecturer in the Faculty of Shari'ah and Law at the Islamic Science University of Malaysia. He has worked extensively in the Islamic finance industry as an advocate, solicitor and legal advisor.