Dear Readers,

I am very grateful to share with you my recent article pertaining to agency theory in Islamic financial institutions. In view of the scarcity literatures on the subject, I wish to highlight one of the recent studies examining the state of corporate governance and the relevancy of agency theory in IFIs which is available in the journal of Corporate Governance: An International Review. 17 (2). pp. 142-158. Hopefully, my remarks and commentaries in this paper will enlighten further discourse on the agency theory in IFIs. For full article click here:

(i) Article Review: New Insight on Agency Theory in IFIs: A Reappraisal
(ii) Original Article: Safieddine, (2009). Islamic Financial Institutions and Corporate Governance: New Insights for Agency Theory. Corporate Governance: An International Review. 17 (2). pp. 142-158.

This paper specifically aims at critically examining the arguments put forward by Safieddine, (2009) on the new insights for agency theory in IFIs by highlighting several fundamental corporate governance issues. Safieddine, (2009) has made valuable contribution on the topic of corporate governance by providing useful and beneficial information on the agency theory in IFIs. Nevertheless, his approach is mainly influenced by the shareholders value model of corporate governance which is to certain extent contradicted with the existing literatures that advocate the stakeholders’ value system as the ideal model for Islamic corporate governance. Indeed there are some areas that need further explanation and clarification particularly in term of theoretical framework of the agency theory in IFIs as well as the foundational dimension of corporate governance in Islam from the epistemological aspect.

Enjoy Reading!

Best Regards

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    Comments (0)

    • Mohammed Hussaini Bin Bahari Reply

      Assalammualaikum Mr. Zulkifli Hasan

      I am an accountancy student. I really interested in Islamic finance although i dont have any experience in Islamic finance. My major courses are, financial reporting, auditing, taxation, economics and management accounting.

      I just want to ask your advice in which area that i must participate so that i can learn more about Islamic finance and please give your recommendation in which institutions in Malaysia suitable with my interest if you know.

      Tq very much in advance

      April 10, 2011 at 10:02 am
      • ZULKIFLI HASAN Reply

        Salam Brother,

        I recommend you to apply for IIUM and INCEIF. These are the best institutions that offering Islamic finance programme at the moment.

        Best Regards

        April 11, 2011 at 8:34 am
    • Fatma Reply

      Hi Dr.Hassan ,

      I am a student of National Law School,Kolkata,India.

      Sir I am doing my LLM dissertation on Islamic Corporate Governance and trying to see whether India can borrow any of the good practices from Sharia Governance.

      I have refferred your articles in ample in my dissertation.Kindly let me know if you have any particular suggestions .Particularly what can be beneficial for the Indian scenario.

      My email id


      October 15, 2013 at 3:29 pm

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