Promoting Shariah Governance in Corporation: Special Reference to Shura
Al-Shura or consultation is an instrument for reconstruction and reform, mentioned in the Qur’an and suggested in the practices of the Prophet and his Companions Muhammad (PBUH) Generally, it is a tool used by Muslim scholars and rulers or caliphs in arriving a decision or ruling on particular...
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| Main Authors: | , , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2016
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| Subjects: | |
| Online Access: | http://eprints.unisza.edu.my/656/1/FH03-FUHA-17-09460.pdf http://eprints.unisza.edu.my/656/ |
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| Summary: | Al-Shura or consultation is an instrument for
reconstruction and reform, mentioned in the Qur’an and
suggested in the practices of the Prophet and his Companions
Muhammad (PBUH) Generally, it is a tool used by Muslim
scholars and rulers or caliphs in arriving a decision or ruling on
particular matters or issues relating to the affairs of Muslims.
However, there is a little discussion on the applicability of shura
in business matters. In developing the framework of shariah
corporation, there are few aspects that need to be scrutinized
such as legal personality, principle of limited liability, registration
of a company and the like. Other than that, board’s decision
making is another important structure to be analyzed in order to
ensure its operation is shariah-compliant. In normal process in
the company, the decision making had been done without
collectively. This article discusses the concept of shura in Islam
and why it should be applied in companies to promote shariahcompliant practices; especially those which carries out Islamic
businesses. In this respect, this paper aims to highlight the role of
siyasah syari’yah in promoting the practices of shura in corporate
structure. |
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