Promoting Shariah Governance in Corporation: Special Reference to Shura
- DOI
- 10.2991/iconeg-16.2017.48How to use a DOI?
- Keywords
- Promoting Shariah; governance; corporation; al-shura
- Abstract
Al-Shura or consultation is an instrument for reconstruction and reform, mentioned in the Qur'an and suggested in the practices of the Prophet and his Companions Muhammad (PBUH) Generally, it is a tool used by Muslim scholars and rulers or caliphs in arriving a decision or ruling on particular matters or issues relating to the affairs of Muslims. However, there is a little discussion on the applicability of shura in business matters. In developing the framework of shariah corporation, there are few aspects that need to be scrutinized such as legal personality, principle of limited liability, registration of a company and the like. Other than that, board's decision making is another important structure to be analyzed in order to ensure its operation is shariah-compliant. In normal process in the company, the decision making had been done without collectively. This article discusses the concept of shura in Islam and why it should be applied in companies to promote shariah-compliant practices; especially those which carries out Islamic businesses. In this respect, this paper aims to highlight the role of siyasah syari'yah in promoting the practices of shura in corporate structure.
- Copyright
- © 2017, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Zuhairah Ariff Abd Ghadas AU - Hartinie Abd Aziz AU - Nazri Ramli PY - 2016/12 DA - 2016/12 TI - Promoting Shariah Governance in Corporation: Special Reference to Shura BT - Proceedings of the International Conference on Ethics in Governance (ICONEG 2016) PB - Atlantis Press SP - 205 EP - 208 SN - 2352-5398 UR - https://doi.org/10.2991/iconeg-16.2017.48 DO - 10.2991/iconeg-16.2017.48 ID - AriffAbdGhadas2016/12 ER -