Centralisation of corporate governance framework for Islamic financial institutions: Is it a worthy cause?
Purpose: The purpose of this paper is to supply basic insights into the principle of shÅ«rÄ (consultation) in Islamic banking, the idea of a centralised approach to the corporate governance of Islamic financial institutions (IFIs), the roles of a centralised SharÄ«Ê¿ah board as the highest authority on SharÄ«Ê¿ah issues and its distinguishing features from a de-centralised system and the advantages and disadvantages of the two governance systems.