Corporate Governance Essay Example | Topics and Well Written Essays - 2250 words - 2

Corporate Governance - Essay Example Another function of the corporate governance to ensure the imposition of Islamic values and principles to the daily lives and the corporate activities of the people. Another undertaking of corporate governance is to ensure that there is a challenge to the Islamic social justice concepts. At the same time, to encourage the Muslims to live their lives according the Quran and attract the blessing of God. As such, this chapter will explore the concept of corporate governance from the point of view of the Islamic world. The principle target of this section will be an examination of whether or not the Islamic laws supplement the concepts of corporate governance. In the event that the work shall identify a relationship between the two concepts, the work will measure the extent to which they supplement each other. Therefore, the work will examine the level to which the Saudi Arabian Kingdom takes advantage of the laws to the corporate activities. There is a need to consider that the Saudi legislators consider Islamic legislation as the first and the national law of the Kingdom. Another consideration is the fact that the Muslim world perceives the Sharia laws as the most vital inclusion of all laws. There varied sources of the Sharia laws that exist within the Saudi jurisprudence. All Muslims across the world consider the Quran and Sunna as the most fundamental of such sources. There are other sources as well, but the two commonly used in the Kingdom of Saudi Arabia are Ijma and Qiyas. Additionally the sources of Islamic legal matters mentioned are the cornerstone of support and proof of the principles of corporate governance from the perspectives of Islam. The sources of the same law are among the most relevant material for the sustainability of policy aspects of corporate governance from the views of Islam as well as the development of a corporate governance ideal. Additionally, the laws mentioned are the reference points of the laws that apply in the