Islamic Banking: Shari'a Governance

2012 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP

7 Pages Posted: 9 Jun 2013

See all articles by Michael J. T. McMillen

Michael J. T. McMillen

Curtis, Mallet-Prevost, Colt & Mosle LLP; University of Pennsylvania Law School

Date Written: December 5, 2012


This article discusses Shari'ah governance under the Islamic Banking Framework of the Sultanate of Oman. Some of the principles are specific to Oman; others apply to Islamic banking generally. The primary focus is on Shari'ah supervisory boards under the Omani Islamic Banking Framework. Topics include the constitution of these boards, qualifications of board members, disqualification of members, the roles and responsibilities of Shari'ah supervisory boards, fiduciary and conflict of interest considerations, and management responsibilities.

Keywords: Islamic banking, Islamic finance, banking, corporate governance, Shari'ah supervisory board, Oman

JEL Classification: F00, F02, F30, G30, G38

Suggested Citation

McMillen, Michael J. T., Islamic Banking: Shari'a Governance (December 5, 2012). 2012 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP, Available at SSRN:

Michael J. T. McMillen (Contact Author)

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