Islam agrees with liberal democracy that among the important issues to be decided by the people is that of choosing their rulers. Alahkam assultaniyyah written in the fith century hijri is perhaps the single most comprehensive account of the workings of islamic governance and equally a highly influential theoretical outline of the nature of that governance. Section ii of the paper compares and contrasts the norms of corporate governance in shariahcompliant and conventional finance, providing recommendations to address some of the shortcomings in islamic finance. Apr 18, 2010 good governance an islamic perspective 1. Jul 25, 20 principles of good governance in islam mile webinar mile madinah. An important islamic concept concerning the structure of ruling is shura. Abdou filaliansary6 who translated islam and the fundamentals of government into french states that abderraziq is the first muslim scholar to. Like the other works of imam khomeini, the book governance of the.
As a term, it has been used to describe various historical polities and theories of governance in the islamic world. Principles of good governance in islam mohammad azram main thesis the first impression and the main thesis of this chapter is that the quran does not teach us the art of slavery. The model of good governance in islam comsats lahore. As we approached the task of defining the features of a present day islamic state, it quickly became evident that while there are principles that represent the core elements of islamic governance, there is more than one approach to constructing an islamic state. The quran and the sunnah will be the basis of legislation in islam. Ali ahmad darwish follow deputy chief islamic banking officer at. In understanding the concept of government in islam, one need to first understand the nature of the religion. The governance, risktaking, and performance of islamic. Islam, politics, governance, secularism, islamic political order. Alahkam assultaniyyah the laws of islamic governance.
Man is the vicegerent, the agent or the representative of allah swt on earth quran 2. As an analogy, the manufacturer of any complex machine or complex office equipment2 will always provide a handbook, which will have instructions about all the correct things to do. Relevance of islamic system of governance in the age of globalization ayesha ilyas the dialogue vol190 ume xi number 2 position is justifiable only if it ensures the publics wellbeing, there is no legal justification for an act that proves otherwise. In the end, these placed god and islam itself as key players in the corporate governance practice. Finally, in comparison with existing national shariah governance models in the middle east and southeast asia, the study evaluates the new shariah governance and application model for islamic financial institutions that has been enforced by the state bank of pakistan. Nov 23, 2017 abu sulayman almuhajir speaks to bilal abdul kareem about islamic governance and the responsibilities of the new government formed in the liberated syrian t. Islam teaches us to run a government, to make legislation and decisions by the process of shura. Principles of good governance in islam mile webinar mile madinah. Woven throughout it are accounts of the first community of islam and the judgements of the early scholars of the. Corporate governance in islamic financial institutions pages, 17x24 cm occasional paper no. What is clear is the goal of the state and the principles that should be followed by the government. Constructing the architectonics and formulating the articulation of islamic governance.
The apparent durability of the islamic republic of iran has surprised and dismayed most western observers. No nation can dream of development without good governance. Concept of good governance in islam alquranclasses. Governance structure in islam governance under pious khalifat particular letters of hazrat umar r. Therefore, the two cardinal principles of governance as laid down by the quran are. Hence the idea to promote good governance, organized by the shariah, is compatible with islam. The first example that we will touch on was during existential threat of al ahzaab this was when all of the significant powers of arabia sided with quraysh and decided that they were going to finish off the prophet, his leadership, the islamic communitystatesociety and governance in al madinah. Allah swt has revealed a comprehensive economic system that details all aspects of economic life including government revenues and taxation. The compact of medina can be read as both a social contract and a constitution. Lewis reads like a carefully constructed dissertation setting forth a theory of justice, taxation, government finance and accountability, governance and corruption grounded in islam. Thus legitimacy in the islamic political order comes first and foremost from accepting allah taala as the sovereign and his law, i.
Principles of good governance in islam iium repository. International institutions have promoted a good governance. The islamic political system munich personal repec archive. The importance of shariah governance the principles of islamic. Corporate governance and ethics of islamic finance. Dec 15, 2014 the main vector of their discourse and the ideology that backs it up and which essentially frames islamist political practice is the use of islamic moral references linking the role of islamic governance to the governed, and the role of the islamic state to the citizensbelievers, in the vanguard of which either in resistance. Justice, democracy, and shariah by imadaddean ahmad, ph. Tamadonfars comprehensive study of the nations recent history, politics, and law reveals a surprisingly dynamic and complicated struggle for dominance between sharply divergent conceptions of the meaning of islamic law and its role in the exercise of power. The main vector of their discourse and the ideology that backs it up and which essentially frames islamist political practice is the use of islamic moral references linking the role of islamic governance to the governed, and the role of the islamic state to the citizensbelievers, in the vanguard of which either in resistance. As a term, it has been used to describe various historical polities and theories of governance in. Corporate governance and ethics of islamic finance institutions parvez ahmed. Governance in the holy quran this article is intended to be read both by muslims1 and by those who are not muslims. This poses unique challenges to both corporate governance and ethical foundations of islamic finance. Jun 02, 2015 islam agrees with liberal democracy that among the important issues to be decided by the people is that of choosing their rulers.
Political aspects of islam are derived from the quran, the sunnah muslim history, and elements. The difference rooted from the fact the islamic perspective sees the corporate governance practice as muslims obligation to god, thus leads to the existence and obedient of the implicit contract with god and explicit contract with humans. Islamic states followed a system of government based on the coexistence of sultan and ulama. Corporate governance in the islamic banking system in. Principles of good governance in islam published on march 29, 2015 march 29, 2015 36 likes 10 comments. Political science throughout its history, islam has been marked by two trends. Department of general studies, university of maidugurinigeria 2. Islam proclaims monarchy and hereditary succession wrong and. This article explains how the fundamental beliefs of islam play a pivotal role in the system of governance. The basics of the political system in islam part 2 of 2. International journal of business, economics and law, vol.
Literature further considers the institutional infrastructure a. Durham etheses constructing the architectonics and. History of islam, islamic institutions, caliphate, imamate, abolition of caliphate introduction caliphate, one of the most discussed issues among muslims following the death of muhammad a. Abu sulayman almuhajir speaks to bilal abdul kareem about islamic governance and the responsibilities of the new government formed in the liberated syrian t. An islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. Oct 10, 2009 an islamic perspective on governance new horizons in money and finance by zafar iqbal and mervyn k. Sudan and morocco in a comparative perspective by waleed mousa august 2005 chair. Amongst topics analysed are theories of justice, taxation, budget deficits, islamic financing modes, public and private accountability, and corruption. The study found that the holy quran guides that good governance is achievable by giving more weight to the charismatic leaders personality and. Corporate governance and ethics of islamic finance institutions. Principles of good governance in islam mile webinar youtube. Corporate governance in the islamic banking system in pakistan.
Islamic governance theory in moroccan islamist discourse. The analysis of the islamic political system through the use of economic. As translation of the arabic term dawlah islamiyyah arabic. Tawheed oneness means that one god alone is the creator. Islamic corporate governance model in islam has its own unique features and presents distinctive characteristics in comparison with the western concept of the anglosaxon and the european models. Good governance an islamic perspective linkedin slideshare. It is allah who knows what is good and what is bad for his servants. In the words of fourth rightly guided caliph hazrat ali ra they should have the qualities of refinement, experience, alertness, power of. This is an important part of the islamic political system. It is an essential prerequisite for all state and nonstate organisations to abide by the principles of good governance in order to move. The revelation of islam has taken place, at various times, through the different messengers of. The model of good governance in islam article pdf available in african journal of business management 52718 sep 2011. Professor muhammad abdallah al buraey, king fadh university, presentation in sydney, australia and commented upon by professor rafik beekun, in choosing excellent leaders and making appointment of public officials, only merit matters, nothing else.
Corporate governance and ethics of islamic finance institutions i. Principles of good governance in islam iium repository irep. In modern concept of good governance, institutional infrastructure is paid more heed as compared to leadership and political structure of governance system. Standard and poors estimatesthe islamic financial services industry as having the potential to. The islamic perspective on excellent leadership and good. They do not necessarily represent the views of the. Translation for governance in the free englisharabic dictionary and many other arabic translations. Anis is meritorious professor and vice chancellor, riphah international university, islamabad. An islamic state is a form of government based on islamic law. Lewis examine, from an islamic perspective, some central issues in public, economic and corporate governance.
The author is one of the most prominent scholars and religious authorities in the muslim world. Concept of public administration in islam quranic guidance on good governance concept of governance and its application in the light of quran and sunnah governance structure in islam governance under pious khalifat particular letters of hazrat umar r. Most importantly i privilege process good governance over structure islamic state. Sep 18, 2011 the model of good governance in islam article pdf available in african journal of business management 52718 sep 2011. The islamic system of governmentthe islamic system of. Published by european centre for research training and development uk. What are the essential features of the islamic political system. The first impression and the main thesis of this chapter is that the quran does not teach us the art of slavery. Management of resources in muslim countries and communities. In public administration all the key public functionaries ought to be people of high calibre, just and energetic and must possess qualities of head and heart. Islam and good governance center for global policy. Shura means to take decisions by consultation and participation 3.
This was understood from the fact that the prophet chose not to appoint his successor, but left it to the muslims to. The overriding objective of islam is to establish a just sociomoral and economicpolitical order in this world. Islam is a set of teachings that has been revealed by allah to mankind. There is no detailed prescription about the form of government in the quran. Islamic state of governance sovereignty means the source of power. The first trend is a literalist tradition, which considers the sharia laws as expounded in the medieval manuals. Examining the newest historical research on islam and the earliest quranic. The islamic system of governmentthe islamic system of government. In islam, allah is the source of all powers and laws quran 3. A discursive attempt in islamic epistemology maszlee malik abstract. Leadership and political structure are considered secondary alam et al. A paper for the 5th annual conference of the center for the study of islam and democracy. I will, therefore, begin with a brief exposition of them.
The concept of state in islam, thus, fundamentally confirm. While islam prohibits interest, it allows trade and earning of profit. Both of these properties of good governance in islam are adopted by modern good governance concept also. What are the essential features of the islamic political. Published by european centre for research training and. A social contract, a model developed by english philosophers. In the words of fourth rightly guided caliph hazrat ali ra they should have the qualities of refinement, experience, alertness, power of comprehending problems, secrecy, freedom from greed. Indeed, it originated as an academic piece and is unlikely to find the wide audience it deserves in this format. Principles of good governance in islam mile webinar. The political system of islam has been based on three principles, viz.
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