Islamic finance has transcended borders and regions but many challenges lie ahead before it can make that crucial leap from being an interesting but niche market to being an integral part of the global financial market. The Chapter on Corporate Governance in Islamic Finance explains these challenges and how to tackle them.
This chapter explains the Corporate Governance (CG) frameworks of Islamic Financial Institutions and the recommended International best practices on CG. It also covers the CG practices in the Takaful and Re Takaful Industry. The Chapter lays down the similarities between the CG Frameworks of Conventional and Islamic Banks and concludes with the emphasis on the importance and benefits of having strong corporate and bank governance, which are essential ingredients for the development of a vibrant and sound Islamic Finance industry.
Euromoney Encyclopedia of Islamic Finance 'Reproduced with permission from Euromoney Books from Islamic Wealth Management: A Catalyst for Global Change and Innovation, edited by Sohail Jaffer'
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