The common perception of islamic governance is a dark image of a non. Published by european centre for research training and. Thus, this research would fill the knowledge and empirical gap in the sri lankan context. 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. Corporate governance has been at the forefront of discussions of the financial services industry for decades.
Hence the scope of the study is to understand about fundamental elements pertaining to cg, that are board responsibilities, legal and regulatory compliance, internal. Concept of public administration in islam quranic guidance on good governance concept of governance and its application in the light of quran and sunnah governance structure in islam governance under pious khalifat particular letters of hazrat umar r. Lewis examine, from an islamic perspective, some central issues in public, economic and corporate governance. 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.
Islam is a complete system of life and it therefore sets out a. The first impression and the main thesis of this chapter is that the quran does not teach us the art of slavery. Justice, democracy, and shariah by imadaddean ahmad, ph. The overriding objective of islam is to establish a just sociomoral and economicpolitical order in this world. Principles of good governance in islam mile webinar. Corporate governance in institutions offering islamic. A paper for the 5th annual conference of the center for the study of islam and democracy. Pdf the model of good governance in islam researchgate.
The islamic system of government ijtihaad which is the knowledge. There is a growing concern emerged with a great profile regarding the islamic principles of corporate governance. Anis is meritorious professor and vice chancellor, riphah international university, islamabad. Arabic as hakatha hukm alislam, outlines the basic structure of a system of government, based on the laws of allah, which. Constructing an alternative concept of islamic governance. Islam, politics, governance, secularism, islamic political order. It is a different matter though that the muslims are busy in reversing this process. Corporate governance in islamic financial institutions. An islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. Nonetheless, this generative noncumulative paradigm of looking into the governance issue should be viewed as an.
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. The struggle for being wage by islamist is in islamic and non islamic countries. Published by european centre for research training and development uk. Hence the scope of the study is to understand about. The claim that the laws of islam may remain in abeyance or are restricted to a particular time or place is contrary to the essential creedal bases of islam. It is an essential prerequisite for all state and nonstate organisations to abide by the principles of good governance in order to move. Islam recognises the preference of one over the other only on the basis of taqwa piety or fear of god. Principles of good governance in islam mile webinar youtube. An important islamic concept concerning the structure of ruling is shura. Woven throughout it are accounts of the first community of islam and the judgements of the early scholars of the. Islam is a set of teachings that has been revealed by allah to mankind. Dec 24, 2012 the islamic system of government chapter 10. Applying or imposing certain classical or archaic structures.
Islam and good governance a political philosophy of ihsan. 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. Principles of good governance in islam iium repository irep. 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. It is against this back drop that islam as a religion and a social order seek for state, power and. Shura means to take decisions by consultation and participation 3. Then he continues logically to discuss insinuated misgivings, such as islam is not a competent religion to govern the society at the age of industrial civilization or legal provisions of islam are inadequate to resolve the. Moral governance of the prophet muhammad s part i mohammad nasr isfahani 1 translated by hannaneh fathollahi abstract. Islam is a religion which guides us in all aspects of human life. A major ethical component of any economic activity in islam is to provide justice, honest and fairness and to ensure all parties their rights and dues. The political philosophy of ihsan privileges process over structure, deeds over. Principles of good governance in islam iium repository.
Islam is not opposed to technological and industrial progress. Before going to the concept of good governance in islam, we must know what governance is. This publication, which was originally published in 1969 in arabic as hakatha hukm alislam, outlines the basic structure of a system of government, based on the laws of allah, which provides the ideal solutions to mankind. Indeed, it originated as an academic piece and is unlikely to find the wide. Element of corporate governance in islamic banks vs. Oct 10, 2009 an islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. Islam the religion of allah cannot play the role of royal opposition for there can be no higher authority. Since enactment of laws, then, is necessary after the.
No nation can dream of development without good governance. Major failures in the business world, from enron to lehman brothers, have. Amongst topics analysed are theories of justice, taxation, budget deficits, islamic financing modes, public. Jul 25, 20 principles of good governance in islam mile webinar. Islam teaches us to run a government, to make legislation and decisions by the process of shura.
Corporate governance of banks has become an important area that needs to be given a further attention at global level, especially after the crisis of financial institutions in 2008 which influenced the stability of banks around the world haan and vlahu, 2016. The prophets aims in spreading the message were to teach monotheism, ethics, and religious law. One who fears allah swt most is the noblest in islam 49. Islam and democracy eliane ursula ettmueller abstract. Our value system originates mainly from the holy quran and our progress is forever dependent on its application. The islamic political system ensures equality for all citizens before the law. 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. Shuramutual consultation part 3 developing just leadership muhammad h.
Relevance of islamic system of governance in the age of. The financial institutions are highly interconnected due to the globalization and technological developments. The quran and the sunnah will be the basis of legislation in islam. It does not recognise any discrimination on the basis of language, colour, territory, sex or descent. 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. 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. The model of good governance in islam article pdf available in african journal of business management 52718 sep 2011. This isim annual lecture was delivered on 8 december 2003 at the academy building, leiden university. Some of these laws 2 islam is derived from the arabic word for peace and it is harmony to the laws of allah, and the teachings of islam are based on the nature of mankind. As institutional infrastructure, leadership and political.
One who fears allah swt most is the noblest in islam quran. Influence of accountability and transparency on governance. 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. An islamic order should unite religion and politics. One of these measures is the creation of an enabling environment.
Lewis reads like a carefully constructed dissertation setting forth a theory of justice, taxation, government finance and accountability, governance and corruption grounded in islam. The islamic system of governmentthe islamic system of government translated by z. 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. As such, islam being a complete way of life has once assumed a centre stage or a dominate position in international politics.
This paper proposes a short apprehension of the reflections of one of the most important progressive islamic scholars, the egyptian theologian ali abderraziq. The islamic system of governmentthe islamic system of government. Alahkam assultaniyyah the laws of islamic governance. 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. Sep 18, 2011 the model of good governance in islam article pdf available in african journal of business management 52718 sep 2011. Muslims who seek to implement the shariah are obliged to emulate the prophets precedence and, given. Sep 30, 2016 before going to the concept of good governance in islam, we must know what governance is. Political aspects of islam are derived from the quran, the sunnah muslim history, and elements.
Apr 18, 2010 good governance an islamic perspective 1. Over the last few decades, islam has become a central point of reference for a wide. The islamic system of governmentthe islamic system of. Since ethics is a means for achieving monotheism, prophet muhammad. Asyraf wajdi dusuki abstract sound corporate governance practices have become essential for efficient, viable and sustainable growth of islamic financial institutions. The model of good governance in islam semantic scholar. From the islamic perspective, governance structure brings into focus the measures that need to be taken to strengthen the organization as a whole. The agents of imperialism are busy in every corner of the islamic world drawing our youth away from us with their evil propaganda. The principle of the rule of law in the islamic system is considered as a base or corner stone where islam was founded on a stake and shariah, because islam came to remove injustice and tyranny and struggled to knock down the ultimate power pole.
Examining the newest historical research on islam and the earliest quranic. The initial study submits that islam presents distinctive values and special characteristics of corporate governance with aim to uphold and maintain the principle of social justice not only to the shareholders of the firm. Concept of good governance in islam alquran classes. 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. It is thus, against the aforementioned that, this paper looks at the influence of accountability and transparency on good governance in islam. An analysis of corporate governance in islamic and western perspectives dr. Principles of the islamic political system request pdf. Health article 40 islams fight against the various forms of diseases are based on measures such as. 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 journey of caliphate from 632 to 1924 salih pay associate professor department of history of islam, faculty of theology uludag university, bursa turkey abstract caliphate signifies maintenance of administrative affairs, led by muhammad a.
Muslims who seek to implement the shariah are obliged to emulate the prophets precedence and, given the rather narrow. 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 basic fundamentals of islamic political system is called shura. The concept of state in islam, thus, fundamentally confirm. In recent decades, especially following the islamic revolution and the establishment of religious authority as the head of government in the modern nation. Allah defines the laws of islam3, and mankind may not make a law in contradiction to the laws of allah4.
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. He begins by disclosing the plots and conspiracies made by the enemies to annihilate islam. Durham etheses constructing the architectonics and. 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. Islamic state of governance sovereignty means the source of power. This is an important part of the islamic political system. The author analyzes the quran and islamic political philosophy to present a new.