Issues of Governance : Transparency and Accountability of Sovereign Wealth Funds in Muslim Countries

Farrukh Habib, Salma Sairally, Abbas Mirakhor
  • Journal of Islamic Business and Management, December 2014, Al Manhal FZ, LLC
  • DOI: 10.12816/0019147

Issues of Governance, Transparency and Accountability of Sovereign Wealth Funds in Muslim Countries

What is it about?

This paper aims to highlight the issues of governance, transparency and accountability with a specific focus on SWFs sponsored by the members of the Organisation of Islamic Cooperation (OIC), or Muslim countries in short. It discusses the gaps arising in the governance, transparency and accountability of SWFs in Muslim Countries (SWF-MC) and proposes some recommendations to improve their practices with a view to enhance their impact on social and economic developments in Muslim countries.

Why is it important?

The topic of SWFs, being discussed particularly from the perspective of Muslim countries, is a new approach. It is deemed vital given the current significance of SWFs in the economic development of Muslim countries. This sets the basis for undertaking this research which focuses on the prevalence of SWFs only in Muslim countries.

Perspectives

Dr Salma Beebee Sairally
International Shariah Research Academy for Islamic Finance (ISRA)

This study widens the literature and research on SWFs in Muslim countries and enhances their economic role in the growth and development of these countries. It sheds light on the gaps arising in the governance, transparency and accountability of SWFs in Muslim Countries and proposes some recommendations to improve their practices.

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http://dx.doi.org/10.12816/0019147

The following have contributed to this page: Dr. Farrukh Habib and Dr Salma Beebee Sairally