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A shared boundary object: financial innovation and engineering in Islamic Financial Institutions

A shared boundary object: financial innovation and engineering in Islamic Financial Institutions
A shared boundary object: financial innovation and engineering in Islamic Financial Institutions
This paper explores the way in which ethico-faith-based rules act as a boundary object in constraining the process of financial innovation and engineering (FIE) in Islamic Financial Institutions (IFIs). The paper examines how this faith-based approach is enacted in the FIE process amid different social worlds and groups that cooperate without consensus within IFIs. We contribute to studies of governance in faith-based organizations, by identifying the plasticity of faith-based rules that act as boundary objects in the governance of the FIE process. The plasticity of ethico-faith based rules allows coordination among local and global actors with intersecting faith-based values, logics and interests. IFIs ensure that the products of FIE become an integral part of and as compatible as possible with the logics of global financial markets.
Boundary object plasticity, Ethico-faith-based rules, Financial engineering, Governing innovation, Islamic financial institutions
0890-8389
Alamad, Samir
d7aa782c-99b8-4c4b-8ee7-2b2d30bde192
Hidayah, Nunung Nurul
f57c537d-8eec-4097-b209-d98a280469b1
Lowe, Alan
009783b7-4c42-4309-afaa-418765aedb6a
Alamad, Samir
d7aa782c-99b8-4c4b-8ee7-2b2d30bde192
Hidayah, Nunung Nurul
f57c537d-8eec-4097-b209-d98a280469b1
Lowe, Alan
009783b7-4c42-4309-afaa-418765aedb6a

Alamad, Samir, Hidayah, Nunung Nurul and Lowe, Alan (2020) A shared boundary object: financial innovation and engineering in Islamic Financial Institutions. British Accounting Review, [100958]. (doi:10.1016/j.bar.2020.100958).

Record type: Article

Abstract

This paper explores the way in which ethico-faith-based rules act as a boundary object in constraining the process of financial innovation and engineering (FIE) in Islamic Financial Institutions (IFIs). The paper examines how this faith-based approach is enacted in the FIE process amid different social worlds and groups that cooperate without consensus within IFIs. We contribute to studies of governance in faith-based organizations, by identifying the plasticity of faith-based rules that act as boundary objects in the governance of the FIE process. The plasticity of ethico-faith based rules allows coordination among local and global actors with intersecting faith-based values, logics and interests. IFIs ensure that the products of FIE become an integral part of and as compatible as possible with the logics of global financial markets.

Text
A Shared Boundary Object: Financial Innovation and Engineering in Islamic Financial Institutions - Accepted Manuscript
Restricted to Repository staff only until 30 September 2022.
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More information

Accepted/In Press date: 25 September 2020
e-pub ahead of print date: 1 October 2020
Keywords: Boundary object plasticity, Ethico-faith-based rules, Financial engineering, Governing innovation, Islamic financial institutions

Identifiers

Local EPrints ID: 444181
URI: http://eprints.soton.ac.uk/id/eprint/444181
ISSN: 0890-8389
PURE UUID: 204a1bbd-aa18-429a-b123-153e7500e932
ORCID for Nunung Nurul Hidayah: ORCID iD orcid.org/0000-0003-3178-4584

Catalogue record

Date deposited: 30 Sep 2020 16:31
Last modified: 26 Nov 2021 03:20

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Contributors

Author: Samir Alamad
Author: Alan Lowe

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