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The Basic Theory of Corporate Governance in Islamic Perspective

Authors

  • Ince Nopica PhD Student, Faculty of Economy and Management, Universiti Kebangsaan Malaysia (UKM)
  • Sanep Ahmad Associate Professor at School of Economics. He is also Chair of School of Economics, Universiti Kebangsaan Malaysia
  • Abdul Ghafar Ismail head of research division and Professor of Banking and Financial Economics. He is currently on leave from School of Economics, Universiti Kebangsaan Malaysia. He is also principal research fellow, Institut Islam Hadhari, Universiti Kebangsaan Malaysia and AmBank Group Resident Fellow for Perdana Leadership Foundation
  • Mohamat Sabri Hassan Associate Professor at School of Accounting, Universiti Kebangsaan Malaysia. He is also Deputy Dean Student, Academic, Alumni and International Affairs, Faculty of Economy and Management

DOI:

https://doi.org/10.22373/jms.v18i2.1921

Keywords:

Corporate Governance, Accountability, Amanah, Khalifatullah Fill Ardh.

Abstract

Recent studies that discuss governance in Islamic perspective have been done by various Islamic researcher including Abu-Tapanjeh (2008), Hassan (2009), Haweez (2013), etc. Most this research used the theoretical approach given in conventional corporate governance and provide additional Tahwid concept. The studies in-depth explanation of relationships between governance and Sharia principles (Islamic Law) is very limited therefore this paper tries to discuss and establish the basic theory of corporate governance based on Islamic Law. The approach used in this paper is the concept of human accountability (Amanah) on the mandate given by Allah SWT as Khalifatullah Fill Ardh. This paper expected can explore new approach to explain corporate governance in Islamic perspective.

References

Al-Quran, [Online], Available: http://quran.com/

Abu-Tapanjeh, Abdussalam Mahmoud (2008) ‘Corporate Governance from the Islamic Perspective: A Comparative Analysis with OECD Principles’, Critical Perspectives on Accounting, vol. 20, no. 5, July, pp. 556-567.

Amien, Miska Muhammad (1983) ‘Epistemologi Islam: Pengantar Filsafat Pengetahuan Islam’, Jakarta: UI Press.

Bakar, Bahrun Abu and Bakar, Anwar Abu (2000) ‘Terjemahan Singkat Tafsir Ibnu Katsier’, Bandung: Sinar Baru.

Bovens, M. (2007) ‘Analysing and Assessing Accountability: A Conceptual Framework’, European Law Journal, vol. 13, no. 4, July, pp. 447–468.

Carrasco, Enrique R., Carrington, Wesley, and Lee, Heejin (2008) ‘Governance and Accountability: The Regional Development Banks’, [Online], Available: Error! Hyperlink reference not valid.

Chapra, M. Umer and Ahmed, Habib (2002) ‘Corporate Governance in Islamic Financial Institutions’, Occasional Paper, Islamic Development Bank: King Fahad National Cataloging-in-Publication Data, [Online], Available:

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Published

2017-09-27

Issue

Vol. 18 No. 2 (2016)

Section

Artikel

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