Abstract: Due to the setbacks on the international scene and the wave of cacophonic financial scandals affecting large international groups, the new Islamic finance industry is not immune despite its initial resistance. The purpose of this paper is to understand and analyze the meaning of the Corporate Governance (CG) concept in Moroccan Islamic banking systems with specific reference to their institutions. The research objective is to identify also the path taken and adopted by these banks recently set up in Morocco. The foundation is rooted in shari'a, in particular, no stakeholder (the shareholding approach) must be harmed, and the ethical value is reflected into these parties’ behavior. We chose a qualitative method, semi-structured interviews where six managers provided answers about their banking systems. Since these respondents held a senior position (directors) within their organizations, it is felt that they are well placed and have the necessary knowledge to provide us with information to answer the questions asked. The results identified the orientation of participating banks and assessing how governance works, while determining which party is fovoured: shareholders, stakeholders or both. This study discusses the favorable condition to the harmonization of the regulations and therefore a better integration between Islamic finance and conventional ones in the economic context of Morocco.
Abstract: The area of liberty, security and justice within the
European Union is still a work in progress. No one can deny that the
EU struggles between a monistic and a dualist approach.
The aim of our essay is to first review how the European law is
perceived by the rest of the international scene. It will then discuss
two main mechanisms at play: the interpretation of larger
international treaties and the penal mechanisms of European law.
Finally, it will help us understand the role of a penal Europe on the
international scene with concrete examples.
Special attention will be paid to cases that deal with fundamental
rights as they represent an interesting case study in Europe and in the
rest of the World. It could illustrate the aforementioned duality
currently present in the Union’s interpretation of international public
law. On the other hand, it will explore some specific European penal
mechanism through mutual recognition and the European arrest
warrant in the transnational criminality frame.
Concerning the interpretation of the treaties, it will first, underline
the ambiguity and the general nature of some treaties that leave the
EU exposed to tension and misunderstanding then it will review the
validity of an EU act (whether or not it is compatible with the rules of
International law).
Finally, it will focus on the most complete manifestation of liberty,
security and justice through the principle of mutual recognition. Used
initially in commercial matters, it has become “the cornerstone” of
European construction. It will see how it is applied in judicial
decisions (its main event and achieving success is via the European
arrest warrant) and how European member states have managed to
develop this cooperation.