Islamic Banking: Shari'a Governance
2012 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP
7 Pages Posted: 9 Jun 2013
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: Suggested Citation