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Volume :32 Issue : 109 2017      Add To Cart                                                                    Download

Islamic supervisory associations’ governance in Islamic Financial firms

Auther : Dr. Ali Muhammad Abul-Ezz. (Manager Researcher) -Prof. Dr. Abdul-Rahman Ibrahim Zaid Al-Kilany. (Participating Researcher

Islamic supervisory associations’ governance in Islamic Financial firms 1- Dr. Ali Muhammad Abul-Ezz. (Manager Researcher) Legislative supervisor and secretary of Legislative supervision section – Jordan Islamic Bank –the Hashemite Kingdom of Jordan. 2- Prof. Dr. Abdul-Rahman Ibrahim Zaid Al-Kilany. (Participating Researcher). Professor of IslamicLegislation – Jordan University - Hashemite Kingdom of Jordan. Abstract: Governance of the Islamic supervisory associations is deemed one of the modern terms that its importance increased in sections of Islamic banks and financial firms, for what its big importance in supporting the supervision rule entrusted to members of Islamic supervisory association and increasing the trustiness on their reports. Islamic supervisory associations should carry out the legislation works such as casuistry and drafting the contracts and agreements and registering the products and answering the queries related to the Banking, and also the supervisory works such as auditing, reviewing and following continuingly the executive section of the firm. But, Some neglecting is being noticed in the work of Islamic firms prevented them from achieving their goals, such as: conflicts between allowing and preventing about the same product and being in the problem of (conflict of interests) like having both the casuistry and executive work or owning the member parts in the firm which he works in its Islamic section, and the casuistry is being between instructing and obligating, and poor of the scientific qualifications and technical experiences of the member, and other negatives which became dangerous because it shows the low level and prevents from achieving the goals required. Here the Islamic supervisory associations should find legislations and ways to distribute the rules fairly, and regulate the work of the association and determine its level which ensure its possession and stability in conducting its duty professionally and according to determined standards help achieve the goals required which is controlling the Islamic banking works.

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Nov 04, 2019

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