Corporate governance: what about Islamic banks?

Islamic Banking  and Governance.- Wacht out for this paper: 
 

Corporate governance: what about Islamic banks? Journal International Journal of Financial Services Management Publisher Inderscience Publishers ISSN 1460-6712 (Print) 1741-8062 (Online) Subject Accounting and Finance Issue Volume 8, Number 1/2015 Pages 18-41 DOI 10.1504/IJFSM.2015.066567 Subject Group Economics and Finance Online Date Monday, December 29, 2014

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Resumee: The purpose of this research is to analyse some key issues in corporate governance in Islamic banks. This governance has been analysed almost exclusively in the context of conventional banking markets. Islamic banking shows a fundamental departure from conventional banking. Our objective is also to compare corporate governance in Islamic banking firms in both the (GCC) countries and Southeast Asia countries (SAC). Moreover, this study investigates the effects of the relevant corporate governance variables of the financial performance of the Islamic banks. It focuses on a sample of 67 Islamic banks (42 Islamic banks in GCC countries and 25 Islamic banks in (SAC)) during the 2004–2012 period. Our investigation reveals that the board's fee, CEO duality and age positively and significantly affect the performance of Islamic banks. In contrast, the Shari'ah Supervisory Board characteristics do not have an impact on the financial performance of the Islamic banks.

Extrated from  http://inderscience.metapress.com/content/4m1g407804744362/  

Illegal distribution of dividends. Company Law, Bankruptcy Law. Spain

Illegal distribution of dividends. Spain

The dividend distribution agreement is an act of equity disposal in that it recognizes a right in favor of the partners, and  carries a reduction in the assest of the  company. It may be subject to revision if it is adopted two years before the bankruptcy declaration and it lacks justification from the perspective of the interests protected in bankruptcy law. TS decision  no. 428/2014, of 24July.

Dividends of a company subsequently declared bankrupt may constitute an act of disposal of equity harmful to the company:

• if it was agreed without due justification, thus violating Company Law ...
• if the  distribution agreements was "irregular"  because it was based entirely or partially in nonexistent net benefits,
• or because it was agreed without  respecting legal and statutory rules on reserves, or without due account of  the provisions of art. TRLSA 213 (current art. 273 TRLSC).

Nuevo (Revisado) Código de Gobierno Corporativo de Entidades Financieras y aseguradoras. Irlanda

• Ireland: revised governance code for credit institutions and insurance undertakings
• see here (pdf).
• summary of the main changes made in the new edition is available here.