Islamic Banking: Shari'a Governance
Michael J. T. McMillen
Curtis, Mallet-Prevost, Colt & Mosle LLP; University of Pennsylvania Law School
December 13, 2012
Oman Client Alert: Curtis, Mallet-Prevost, Colt & Mosle LLP, 2012
This article reviews certain of the corporate governance provisions of the Islamic Banking Framework of the Central Bank of Oman, specifically those pertaining to Shari`a supervisory boards and related Shari`a governance entites and mechanisms. The article considers requirments pertaining to the constitution of Shari`a boards, the qualifications of members of those boards, the roles and responsibilities of Shari`a supervisory boards, fiduciary duty and conflict of interest provisions, and management responsibilities of Shari`a supervisory boards.
Number of Pages in PDF File: 7
Keywords: Islamic banking, Islamic finance, Shari`a, corporate governance, Shari`a boards
JEL Classification: G00, G20, G21, G24, G30, G32, G38, K00, K20, K23, K23, K33Accepted Paper Series
Date posted: June 13, 2013
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