The Study of Supervision and Control in Islamic Financial Management

Mahdi Saghafi and Alireza Amirabadi

Asian Economic and Financial Review, 2016, vol. 6, issue 7, 404-415

Abstract: The purpose of this research is studying the supervision and control of juristic views in Islamic financial. In Islam, evaluation, audit and other terms used to describe the monitoring and control has been discussed widely. The three authorities of the Islamic government surveillance of workers and managers include God, Imam and the people. In this research firstly supervision pyramid and kinds of supervision and control of Islamic management, the importance of inner supervision (self-control) in the view of Holy Quran, Prophet Muhammad, and Imam Ali, and stages of control and supervision will be discussed by mining the documents and studying the available texts. Then penitence, as a corrective action and its importance in Islam, and actions followed by controlling and supervising will be studied, and finally we have proposed a pattern of supervision and control while showing the importance and necessity of supervisor characteristics.

Keywords: Financial management; Supervision; Control; Obvious supervision; Secret supervision; Internal supervision. (search for similar items in EconPapers)
Date: 2016
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