Islam rejects not merely the nonintellectual and unethical culture during a particular period of time in arabia. The first impression and the main thesis of this chapter is that the quran does not teach us the art of slavery. It is an essential prerequisite for all state and nonstate organisations to abide by the principles of good governance in order to move. Principles of good governance in islam iium repository. It does not recognise any discrimination on the basis of language, colour, territory, sex or descent. 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. The islamic political system ensures equality for all citizens before the law. The staff in the islamic bank should act according.
The apparent durability of the islamic republic of iran has surprised and dismayed most western observers. Before going to the concept of good governance in islam, we must know what governance is. Islamic states and mongel khanates by rowan wolschleger on. Amanah in islam and finally government should always run an open door policy. Man is the vicegerent, the agent or the representative of allah swt on earth quran 2. The sunni, which believed that the wisest member of the tribe should lead. Our value system originates mainly from the holy quran and our progress is forever dependent on its application. Islam is a set of teachings that has been revealed by allah to mankind. 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. Apr 18, 2010 good governance an islamic perspective 1. An islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. Durham etheses constructing the architectonics and. Principles of the islamic political system by tanveer hussain. The debate of corporate governance emerged as a great profile and of critical interest since the mid1980s attracting a great deal of attention for the practitioners, communities as the managers, shareholders, investors, regulatory agencies, as well as in the academic research abutapanjeh, 2006.
Lewis examine, from an islamic perspective, some central issues in public, economic and corporate governance. 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. Principles of good governance in islam mile webinar youtube. Stakeholders model of governance in islamic economic system. Abdou filaliansary6 who translated islam and the fundamentals of government into french states that abderraziq is the first muslim scholar to. It is a different matter though that the muslims are busy in reversing this process. Concept of good governance in islam alquranclasses. Element of corporate governance in islamic banks vs. 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. Achieving the former within the structure of the latter is a challenge for any society. In islam, allah is the source of all powers and laws quran 3.
Principles of good governance in islam mile webinar. Azram, mohammad 2012 principles of good governance in islam. 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. The corporate governance is not only one of the main principle in running a firm. Shariah scholars and governance a network analytic. The islamic financial institutions have worked within this limitation and have introduced different financial products that fulfil the shariah requirements and provide an alternative to the. Christianity, islam, hinduism, sikhism, buddhism and african traditional belief systems. The shia, who believed a direct descendent of muhammed should and lead. Corporate governance in the islamic banking system in. Therefore, allah swt is the one who has all the powers and attributes of sovereignty and nothing whatever that belongs everywhere. Models of good governance of rightly guided caliphs.
The first trend is a literalist tradition, which considers the sharia laws as expounded in the medieval manuals. Published by european centre for research training and development uk. Corporate governance and ethics of islamic finance institutions i. Amongst topics analysed are theories of justice, taxation, budget deficits, islamic financing modes, public and private accountability, and corruption. Published by european centre for research training and. No nation can dream of development without good governance. Deromanticizing the islamic states vision of the caliphate. The objective of this paper is to identify factors, which will influence corporate governance within an islamic. Models of good governance in islam are pragmatic, which ensure purpose of serving masses being governed.
Jhiliyyah that islam aims to eradicate is the nonintellectual and unethical way of life 7. Islam the religion of allah cannot play the role of royal opposition for there can be no higher authority. International institutions have promoted a good governance. Woven throughout it are accounts of the first community of islam and the judgements of the early scholars of the. Translation for governance in the free englisharabic dictionary and many other arabic translations.
Influence of accountability and transparency on governance in. Relevance of islamic system of governance in the age of. Assertions that this is because islam is inherently unjust or. Introduction the financial institutions play a key role in the economy of any country as it facilitates the financial intermediation. Anis is meritorious professor and vice chancellor, riphah international university, islamabad. 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. Influence of accountability and transparency on governance. 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. 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. Islamic bank, conventional bank, corporate governance, profit and loss sharing paradigm, shariah principals 1. The islamic corporate governance structure has an obligation towards the community, the employees, and related parties of an organization 25. Principles of good governance in islam mohammad azram main thesis the first impression and the main thesis of this chapter is that the quran does not teach us the art of slavery. Relevance of islamic system of governance in the age of globalization ayesha ilyas the dialogue vol190 ume xi number 2 position is justifiable only if it ensures the publics wellbeing, there is no legal justification for an act that proves otherwise. The islamic system of governmentthe islamic system of government translated by z.
An islamic order should unite religion and politics. It is thus, against the aforementioned that, this paper looks at the influence of accountability and transparency on good governance in islam. Governance structure in islam governance under pious khalifat particular letters of hazrat umar r. Indeed, it originated as an academic piece and is unlikely to find the wide audience it deserves in this format.
Arabic as hakatha hukm al islam, outlines the basic structure of a system of government, based on the laws of allah, which. Shura means to take decisions by consultation and participation 3. 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. Lewis reads like a carefully constructed dissertation setting forth a theory of justice, taxation, government finance and accountability, governance and corruption grounded in islam. Influence of accountability and transparency on governance in islam gidado, abdu dauda. The islamic system of governmentthe islamic system of.
Dec 24, 2012 the islamic system of government chapter 10. The concept of state in islam, thus, fundamentally confirm. 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. The overriding objective of islam is to establish a just sociomoral and economicpolitical order in this world. Corporate governance in institutions offering islamic. While islam prohibits interest, it allows trade and earning of profit. It is derived from the word khalf which means to be behind, to. The sacred law of islam as an allembracing religion is providentially destined for the whole of humanity in all times and places, and with regard to the legal issues including the designation of the legislator, the judge and the executor, all should be congruous with the.
Sep 30, 2016 before going to the concept of good governance in islam, we must know what governance is. The islamic system of governmentthe islamic system of government. This is an important part of the islamic political system. 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.
Corporate governance in islamic financial institutions. You can view samples of our professional work here. A discursive attempt in islamic epistemology maszlee malik abstract. In the words of fourth rightly guided caliph hazrat ali ra they should have the qualities of refinement, experience, alertness, power of comprehending problems, secrecy, freedom from greed. The research projects will compare two or more of the focus countries, regions within the countries, different religious traditions and selected development activities and policies. Political science throughout its history, islam has been marked by two trends. 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. The revelation of islam has taken place, at various times, through the different messengers of. This paper outlines the basic principles of the islamic political system, including. Jul 25, 20 principles of good governance in islam mile webinar mile madinah. One who fears allah swt most is the noblest in islam 49. Islam is a religion which guides us in all aspects of human life. So, basic sources of concept of good governance in islam are two.
Oct 10, 2009 an islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. In those two things, it is correct it is definitely islamic, and yet it has all. In modern times, western societies have had more success in establishing a degree of domestic justice within a democratic formalism than have muslim societies. This is not an example of the work produced by our essay writing service. Principles of the islamic political system by tanveer. Over the last few decades, islam has become a central point of reference for a wide. Sudan and morocco in a comparative perspective by waleed mousa august 2005 chair. Ever since the 1979 islamic revolution, iran has styled itself as the islamic republic of iran. Management of resources in muslim countries and communities. It was on this background that this paper looks at the influence of accountability and transparency from islamic perspective in achieving good governance in the. 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. Corporate governance and ethics of islamic finance. A responsibilities of civil servant system of accountability in islam.
The research projects will compare two or more of the focus countries, regions within the countries, different religious traditions. The sacred law of islam as an allembracing religion is providentially destined for the whole of humanity in all times and places, and with regard to the legal issues including the designation of the legislator, the judge and the executor, all should be congruous with the laws and injunctions as laid down in the religion of islam. An analysis of corporate governance in islamic and western perspectives dr. Islamic state of governance sovereignty means the source of power. Islam is a complete system of life and it therefore sets out a. The quran and the sunnah will be the basis of legislation in islam. This step is necessary because in extremist rhetoric the caliphate is a singular institution, encompassing the entire worlds muslim population under its umbrella. Sep 18, 2011 the model of good governance in islam article pdf available in african journal of business management 52718 sep 2011. Good governance an islamic perspective linkedin slideshare. Dec, 2012 islam is a religion which guides us in all aspects of human life. Alahkam assultaniyyah the laws of islamic governance. Examining the newest historical research on islam and the earliest quranic.
Principles of the islamic political system request pdf. Principles of good governance in islam mile webinar mile madinah. Health article 40 islams fight against the various forms of diseases are based on measures such as. Islam teaches us to run a government, to make legislation and decisions by the process of shura.