Alhassanain(p) Network for Heritage and Islamic Thought

Islamic Worldview and Effective Corporate Governance

This book is corrected and edited by Al-Hassanain (p) Institue for Islamic Heritage and Thought

• INTRODUCTION
• 2.0 CORPORATE GOVERNANCE - AN OVERVIEW
• 2.1 What is Corporate Governance?
• 2.2 Why Corporate Governance is important?
• 2.2.1 Financial reporting and auditing
• 2.2.2 Directors’ remuneration
• 2.2.3 Decision making-power
• 2.2.4. Risk management
• 2.2.5 Information and communication
• 3.0 ISLAMIC WORLDVIEW
• 3.1 Tawheed (Unity of God)
• 3.2 The Core Concepts
• 3.2.1 Man
• 3.2.2 Universe
• 3.2.3 Religion
• 3.3 Important Values
• 3.3.1 Siddiq (Truthfulness)
• 3.3.3 ‘Adalah (Justice)
• 3.3.4 Ukhuwwah (Brotherhood)
• 3.3.5 Mujahadah (Determination)
• 3.4 Insan Muttaqun (Pious Individual)
• 4.0 DEVELOPMENT OF A MODEL OF EFFECTIVE CORPORATE GOVERNANCE
• 4.1 Components of the Islamic Corporate Governance
• 4.1.1 Shari’ah Supervisory Board (SSB)
• 4.1.2 Board of Directors (BOD)
• 4.1.3 Management
• 4.1.4 Internal Audit (IA) and Internal Shari’ah Audit (ISA)
• 4.2 Internal Forces
• 4.2.1 Internal Control and Procedures
• 4.2.2 Shuratic Decision Making
• 4.2.3 Shari’ah-Infused Value Individuals
• a. Education
• b. Love for knowledge
• c. Tazkirah (Reminder)
• 4.2.4 Human Resource Development
• 4.3 External Forces
• 4.3.1 Stakeholders
• a. Employees
• b. General public
• c. Lenders/Creditors
• 4.3.2 Legal Requirement
• a. External Control
• b. Accounting standard
• c. Acts
• 4.3.3 The Institution of Hisba
• 4.4 Shari’ah Law
• 4.5 Worldview - The Most Outer Layer
• 5.0 CONCLUSION
• REFERENCES
• Notes