The book encompasses a comprehensive overview of the historical evolution of Shari’ah governance in Islamic Finance, the current practices, and the prospects of Shari’ah governance in the future. The chapters of the books are contributed by Shari’ah scholars, Islamic economists, regulators, practitioners, policymakers, and academicians from different parts of the world. The book has three parts: In part 1, the introductory chapter provides a useful summary of the work along with a critical discourse on Shari’ah governance, while the rest of the chapters of Part 1 describe the fundamentals and philosophical foundations of Shari’ah governance for outlining the evolution and history of Shari’ah governance. Part 2 presents real-life case studies and a critical analysis of Shari’ah governance practices across 17 countries and highlights the variations, ambiguities, and tensions that exist and influence the function of SSBs in different jurisdictions. Part 3 takes account of the concurrent methods of Shari’ah governance in Islamic finance and identifies the areas of reform as well as offers the directions for future practice and scholarship in the field.
Introduction: Shariah Governance in Islamic Finance / Wijdan Tariq
Part I: Fundamentals of Shariah Governance in Islamic Finance
Shariah Governance: Principles and Foundations / Ali Al-Quradaghi & Bahnaz AlQuradaghi
Historical Development of Shariah Governance Standards and Guiding Principles / Rifat Abdel Karim & Umar Oseni
Shariah Governance in International Sukuk Markets / Aida Othman
Part II: Case Studies of Shariah Governance in Practice
Bahrain / Mohammad Omar Farooq & Ahmed Mansoor Alkhan
Bangladesh / M. Kabir Hassan, Md. Hafij Ullah & Ruma Khanam
Egypt / Walid Hegazy
India / Shariq Nisar & Umar Farooq
Indonesia / Rifki Ismal & Wachid Asad
Iran / Amin Mohseni & Amir A. Zolfaghari
Kenya / Hanaan Balala
Kuwait / Jamshaid Anwar Chattha & Syed Musa Alhabshi
Malaysia / Mohamad Akram Laldin & Hafas Furqani
Morocco / Dalal Aassouli
Nigeria / Umar A. Oseni
Pakistan / Usman Hayat & Sarwat Ahson
Qatar / Osama Al-Dereaie, Fuaad AlDulaimi & others
Saudi Arabia / Ashraf Gomma Ali, Marjan Muhammad & others
Sudan / Ishraga Khattab
Turkey / Zeynep Topaloglu Calkan
United Kingdom and Europe / Samir Alamad
Part III: Future of Shariah Governance in Islamic Finance
Authenticity of Shariah Applications in Islamic Banks under the Principles of Corporate Governance / Abdelrahman Yousri
Contemporary Shariah Governance Practices: A Perspective from within the Islamic Finance Industry / Siraj Yasini
Juristic Authority and Financial Expertise: Politics of Translation between Shariah Scholars and Finance Professionals / Mahmood Ahmad & Sohaib Khan
Reforming Shariah Governance in Islamic Finance for Achieving Sustainable Development Goals / Tariqullah Khan
The Future of Shariah Governance / Zulkifli Hasan
