Influence of accountability and transparency on governance. I will, therefore, begin with a brief exposition of them. Introduction to islam the word islam is derived from arabic word s l m and its mean surrender, obedient and as well as peace and this mean that a person can have a physical and mental peace only. Corporate governance in islamic financial institutions. In the end, these placed god and islam itself as key players in the corporate governance practice. Health article 40 islams fight against the various forms of diseases are based on measures such as. Corporate governance in oecd entitled the power of decision making and participation of deeper internal business dealings to those limited persons holding higher designation as bod and senior management authorities whereas, in islam, those whoever related stakeholders of the organization are given full rights and responsibility to participate. Governance is regulation and delivery of duties and rights as per policies and thus good governance implies to deliverance if these duties in best manner.
Achieving the former within the structure of the latter is a challenge for any society. The political system of islam has been based on three principles, viz. This study is therefore necessary because many countries of the world are faced with social problems such as social inequality, unemployment, thuggery, armed banditry and squalor. Differences and similaritites between corporate governance. In public administration all the key public functionaries ought to be people of high calibre, just and energetic and. Among the salient features of this comprehensive legislation is the provision relating the enforcement of shariah noncompliance risk and imposes statutory duty upon the islamic financial. The shia, who believed a direct descendent of muhammed should and lead. This was understood from the fact that the prophet chose not to appoint his successor, but left it to the muslims to. Islam is a religion which guides us in all aspects of human life. Islam the religion of allah cannot play the role of royal opposition for there can be no higher authority. Therefore, allah swt is the one who has all the powers and attributes of sovereignty and nothing whatever that belongs everywhere. Amongst topics analysed are theories of justice, taxation, budget deficits, islamic financing modes, public and private accountability, and corruption. One who fears allah swt most is the noblest in islam 49.
Principles of the islamic political system request pdf. International institutions have promoted a good governance. Deromanticizing the islamic states vision of the caliphate. Influence of accountability and transparency on governance in islam. An analysis of corporate governance in islamic and western perspectives dr. Sudan and morocco in a comparative perspective by waleed mousa august 2005 chair. The islamic political system ensures equality for all citizens before the law.
The difference rooted from the fact the islamic perspective sees the corporate governance practice as muslims obligation to god, thus leads to the existence and obedient of the implicit contract with god and explicit contract with humans. Azram, mohammad 2012 principles of good governance in islam. A discursive attempt in islamic epistemology maszlee malik abstract. The islamic system of governmentthe islamic system of government. As such, islam being a complete way of life has once assumed a centre stage or a dominate position in international politics. Abdou filaliansary6 who translated islam and the fundamentals of government into french states that abderraziq is the first muslim scholar to. This paper outlines the basic principles of the islamic political system, including.
Corporate governance and ethics of islamic finance institutions. Lewis examine, from an islamic perspective, some central issues in public, economic and corporate governance. An islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. In understanding the concept of government in islam, one needs to first understand the nature of the religion. Sep 30, 2016 before going to the concept of good governance in islam, we must know what governance is. Abdou filaliansary6 who translated islam and the fundamentals of government into french states that abderraziq is the first muslim scholar to claim an inherent laicism of islam. Perhaps, unlike christianity, islam does not separate religion from state, and many muslims argue it is a political islam not. The sunni, which believed that the wisest member of the tribe should lead. The struggle for being wage by islamist is in islamic and non islamic countries. Islam teaches us to run a government, to make legislation and decisions by the process of shura.
The islamic system of governmentthe islamic system of. The islamic government must prevent the illicit and forbidden practices as defined under islamic law37 as such acts are the causes of many physiological and psychological illnesses in the society. The quran tells us that allah swt is the creator and lord of the entire universe, including the human kind and all associated with them. Hafeez advocatelegal consultant, the islamia university of bahawalpur abstract corporate governance is a set of relationship between a companys boards, its. An important islamic concept concerning the structure of ruling is shura. Management of resources in muslim countries and communities. It is against this back drop that islam as a religion and a social order seek for state, power and. Jun 02, 2015 islam agrees with liberal democracy that among the important issues to be decided by the people is that of choosing their rulers. Our value system originates mainly from the holy quran and our progress is forever dependent on its application. Jan 07, 2015 consultative governance, therefore, is the preferred form of governance in islam, and any muslim who chooses to stay true to his faith sources cannot but prefer a democratic structure over all others to realise the justice and wellbeing promised in islamic sources. Influence of accountability and transparency on governance in. Principles of good governance in islam iium repository irep.
It is difficult to appreciate the different aspects of the islamic policy with out fully understanding these three principles. Corporate governance and ethics of islamic finance institutions i. Islamic states and mongel khanates by rowan wolschleger on prezi. Alahkam assultaniyyah written in the fith century hijri is perhaps the single most comprehensive account of the workings of islamic governance and equally a highly influential theoretical outline of the nature of that governance. In those two things, it is correct it is definitely islamic, and yet it has all. The first trend is a literalist tradition, which considers the sharia laws as expounded in the medieval manuals. Like the other works of imam khomeini, the book governance of the. The basics of the political system in islam part 1 of 2. Tawheed oneness means that one god alone is the creator.
Islam recognises the preference of one over the other only on the basis of taqwa piety or fear of god. The model of good governance in islam semantic scholar. Shura means to take decisions by consultation and participation 3. Consultative governance, therefore, is the preferred form of governance in islam, and any muslim who chooses to stay true to his faith sources cannot but prefer a democratic structure over all others to realise the justice and wellbeing promised in islamic sources. Lewis reads like a carefully constructed dissertation setting forth a theory of justice, taxation, government finance and accountability, governance and corruption grounded in islam. In modern times, western societies have had more success in establishing a degree of domestic justice within a democratic formalism than have muslim societies. Literature further considers the institutional infrastructure a.
Islamic state of governance sovereignty means the source of power. This step is necessary because in extremist rhetoric the caliphate is a singular institution, encompassing the entire worlds muslim population under its umbrella. It is thus, against the aforementioned that, this paper looks at the influence of accountability and transparency on good governance in islam. In public administration all the key public functionaries ought to be people of high calibre, just and energetic and must possess qualities of head and heart. Principles of the islamic political system by tanveer hussain. Dec 24, 2012 the islamic system of government chapter 10. It is allah who knows what is good and what is bad for his servants. The apparent durability of the islamic republic of iran has surprised and dismayed most western observers. Corporate governance of banks has become an important area that needs to be given a further attention at global level, especially after the crisis of financial institutions in 2008 which influenced the stability of banks around the world haan and vlahu, 2016. Leadership and political structure are considered secondary alam et al. Islam is a set of teachings that has been revealed by allah to mankind.
The revelation of islam has taken place, at various times, through the different messengers of. Political science throughout its history, islam has been marked by two trends. Alahkam assultaniyyah the laws of islamic governance. As an analogy, the manufacturer of any complex machine or complex office equipment2 will always provide a handbook, which will have instructions about all the correct things to do. Good governance an islamic perspective linkedin slideshare. In islam, allah is the source of all powers and laws quran 3. Published by european centre for research training and. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext.
Prior to 30 june 20, the legal framework relating to shariah governance in islamic finance was not statutorily provided. What are the essential features of the islamic political system. Durham etheses constructing the architectonics and. History of islam, islamic institutions, caliphate, imamate, abolition of caliphate introduction caliphate, one of the most discussed issues among muslims following the death of muhammad a. This article explains how fundamental beliefs of islam play a pivotal role in the system of governance. Standard and poors estimatesthe islamic financial services industry as having the potential to. Constructing the architectonics and formulating the articulation of islamic governance. Third, this study provides empirical support for the neoinstitutional perspective at the national level for differences in perceived legitimacy of corporate governance practices throughout the world. Man is the vicegerent, the agent or the representative of allah swt on earth quran 2. As indicated earlier, imam khomeini had once discussed the question of governance of the jurist in najaf in thirteen instructional sessions of which the present book is the transcription and edited form of the same course instructions. Political aspects of islam are derived from the quran, the sunnah muslim history, and elements. Ever since the 1979 islamic revolution, iran has styled itself as the islamic republic of iran. Oct 10, 2009 an islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k.
Apr 18, 2010 good governance an islamic perspective 1. Over the last few decades, islam has become a central point of reference for a wide. It does not recognise any discrimination on the basis of language, colour, territory, sex or descent. Concept of public administration in islam quranic guidance on good governance concept of governance and its application in the light of quran and sunnah governance structure in islam governance under pious khalifat particular letters of hazrat umar r. Hafeez advocatelegal consultant, the islamia university of bahawalpur abstract corporate governance is a set of relationship between a companys boards, its shareholders, and other stakeholders as well as.
Tamadonfars comprehensive study of the nations recent history, politics, and law reveals a surprisingly dynamic and complicated struggle for dominance between sharply divergent conceptions of the meaning of islamic law and its role in the exercise of power. Concept of good governance in islam alquranclasses. Anis is meritorious professor and vice chancellor, riphah international university, islamabad. Arabic as hakatha hukm alislam, outlines the basic structure of a system of government, based on the laws of allah, which provides the ideal solutions to. Assertions that this is because islam is inherently unjust or. Governance in the holy quran this article is intended to be read both by muslims1 and by those who are not muslims. Before going to the concept of good governance in islam, we must know what governance is. Published by european centre for research training and development uk. A responsibilities of civil servant system of accountability in islam. This is an important part of the islamic political system.
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