Abstract

Purpose

The purpose of this study is to examine the legal paradigm of multiple Sharia' board directorship practice from the Sharia' law concept of Maslahah Al-Mursalah (public interest).

Design/methodology/approach

It uses a doctrinal research method that relies on the commonly referred sources of Quran and Sunnah, with a specific focus on Maslahah Al-Mursalah and, where applicable, commentaries by contemporary scholars, academics and practitioners as well as translations of classical book of Fiqh. This study scrutinises the polarity of views concerning the distinct Masyaqqah (necessity) surrounding the practice in discussion: the Masyaqqah that encourages and one that discourages the application of the practice.

Findings

This study is keen to suggest the industry to adopt a cautious approach and consider exploring a corporate governance framework that appraises the theoretical and practical Sharia' issues concerning its application in cognisance of its adversarial influence towards the sustainability of Islamic banking industry.

Originality/value

Since Murat Unal’s study of multiple Sharia' board directorships in 2009 and 2011, empirical works that scrutinise the practice from the Sharia' law perspective have remained limited or almost non-existent. It is aspired that this study may assist fellow readers and future researchers alike in evaluating and appreciating the divergent views surrounding the application of this practice in Islamic banking.

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Year of Publication
2019
Journal
Journal of Islamic Marketing
Volume
11
Start Page
745
Issue
3
Date Published
07/2019
ISSN Number
1759-0833
URL
https://www.emerald.com/insight/content/doi/10.1108/JIMA-10-2018-0185/full/html
DOI
https://doi.org/10.1108/JIMA-10-2018-0185
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Multiple Sharia' Board Directorship: A Maslahah (Public Interest) Perspective

Assistant Professor of Law

Citation: 1.Razak AHA. Multiple Sharia’ Board Directorship: A Maslahah (Public Interest) Perspective. Journal of Islamic Marketing. 2019;11(3). doi:https://doi.org/10.1108/JIMA-10-2018-0185

In: Journal of Islamic Marketing

Published by: , 2019

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