loss of  1  OECD Principles of Corporate Governance 2004; Include (i) Ensuring the Basis for an Effective Corporate Governance Framework, (ii) The Rights of Shareholders and Key Ownership Functions, (iii) The Equitable Treatment of Shareholders, (iv) The Role of Stakeholders in Corporate Governance, (v) Disclosure and Transparency, and (vi) The Responsibilities of the Board.
BIS Review 6/2007  1  faith has to be managed right from the inception of an IFI and the Shariah Advisor/Board are assigned to perform their duties. Commitment of dedicated, qualified directors who understand and can assess Shariah Compliance would facilitate effective oversight and protect the industry from overall reputation risks.