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TABLE OF CONTENT
NO.
CONTENT
PAGE
1
ABSTRACT
2
INTRODUCTION
3
LITERATURE REVIEW
4
METHODOLOGY
5
ISLAMIC PERSPECTIVE OF TRANSPARENCY
6
CATEGORY:
1) OVERVIEW
2) GOVERNANCE
3) FINANCIAL
4) PERFORMANCE
5) OTHERS
7
CONCLUSION
ISLAMIC PERSPECTIVE OF TRANSPARENCY Accountability, transparency and good governance are mutually reinforcing concepts that assume wide currency today. Development of any kind cannot occur due to the absence of a system which is accountable and transparent. Throughout Islamic history, it is worth noting that the majority of Islamic scholars as well as jurists have favour of transparency and also accountability. The concept of transparency has been highlighted by Allah in the following verse:
“O you who believe! When you deal with each other, in transactions involving future obligations in a fixed period of time, reduce them to writing. Let a scribe write down faithfully as between the parties...” (Al-Baqarah.282, Beginning of the verse)
In simple words, this verse means that all transaction should be written down or recorded to avoid injustice or confusion. Transparency is the important requirement for openness in all deals of public affairs. In addition, being transparent, it allows stakeholders to gather information that may be critical to uncover any abuses and defend their interests. According to Ayee (2003:13), it states that transparency entails that;
Citizens have a right to available information pertaining to, for example, award of contracts, privatization of state enterprises, rules against corruption or the funding of political parties,... a transparent government is that which offers chance towards citizens to find out the true facts at first hand, without the information being filtered or presented through a distorting mirror. In other words, transparency is basically
NO.
CONTENT
PAGE
1
ABSTRACT
2
INTRODUCTION
3
LITERATURE REVIEW
4
METHODOLOGY
5
ISLAMIC PERSPECTIVE OF TRANSPARENCY
6
CATEGORY:
1) OVERVIEW
2) GOVERNANCE
3) FINANCIAL
4) PERFORMANCE
5) OTHERS
7
CONCLUSION
ISLAMIC PERSPECTIVE OF TRANSPARENCY Accountability, transparency and good governance are mutually reinforcing concepts that assume wide currency today. Development of any kind cannot occur due to the absence of a system which is accountable and transparent. Throughout Islamic history, it is worth noting that the majority of Islamic scholars as well as jurists have favour of transparency and also accountability. The concept of transparency has been highlighted by Allah in the following verse:
“O you who believe! When you deal with each other, in transactions involving future obligations in a fixed period of time, reduce them to writing. Let a scribe write down faithfully as between the parties...” (Al-Baqarah.282, Beginning of the verse)
In simple words, this verse means that all transaction should be written down or recorded to avoid injustice or confusion. Transparency is the important requirement for openness in all deals of public affairs. In addition, being transparent, it allows stakeholders to gather information that may be critical to uncover any abuses and defend their interests. According to Ayee (2003:13), it states that transparency entails that;
Citizens have a right to available information pertaining to, for example, award of contracts, privatization of state enterprises, rules against corruption or the funding of political parties,... a transparent government is that which offers chance towards citizens to find out the true facts at first hand, without the information being filtered or presented through a distorting mirror. In other words, transparency is basically