Islamic Banking: Shari'a Governance
Oman Client Alert: Curtis, Mallet-Prevost, Colt & Mosle LLP, 2012
7 Pages Posted: 13 Jun 2013
Date Written: December 13, 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.
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, K33
Suggested Citation: Suggested Citation