The driving force of corporate governance for IFIs on one hand is the concept of justice, moral obligation, accountability, and equality that are fundamental to Islamic ideology and on the other hand, is the nature of permissible transactions which tend to have different risks associated with it than conventional banking business.
Long before the age of complex legal documentation and financial revolution, Islam prescribed the concept of writing contracts in financial transactions, and insisted that no party of any contract or exchange should be exploited. This legacy provides IFIs the foundation of good corporate governance which can be well blended and integrated and would reinforce modern principles and models of corporate governance.