An investigation of the roles and responsibilities of the board of directors in the Libyan banking sector
type: CreativeWork
description: Since the financial crisis of 2008, corporate governance (CG) has been the focus of much attention in the developed countries. One of the main priorities of governments in these countries has been to implement CG mechanisms that will improve the practice and effectiveness of boards of directors. But while much has been written about CG in developed countries, developing countries represent relatively untravelled territory in terms of CG research. Libya is the largest oil producer in Africa and its oil revenues form a steady stream of income for the country. However, the country ranks low in terms of international measures of governance. As an Islamic state, with a population that is approximately 97 per cent Sunni Muslim, the prevailing culture, systems, rules and regulations are all profoundly influenced by Islamic precepts. Indeed, the Central Bank of Libya (CBL) has taken steps towards developing a dual system of conventional and Islamic banking. As such, CG and boards of directors (BODs) in the banking sector are highly influenced by Shari’ah law and Shari'ah supervisory boards (SSBs). This research aims to examine the practices, roles and responsibilities of BODs in the Libyan banking sector (LBS) and to identify the factors that facilitate or hinder boards in carrying out these roles and responsibilities. Achieving this overarching aim will help bridge a gap in knowledge in terms of the roles and functions of Libyan boards of directors. To this end, the research investigates boardroom norms in the banking sector in the context of the board’s strategic, service and control and monitoring roles. The main goals of this research are to contribute to current literature and to provide insights that can be applied to corporate governance practice in Libya and, more broadly, the country’s economic development. The study adopts a pragmatic paradigm to address its central research questions. A mixed-method approach was employed: quantitative data was collected by means …
abstract: Since the financial crisis of 2008, corporate governance (CG) has been the focus of much attention in the developed countries. One of the main priorities of governments in these countries has been to implement CG mechanisms that will improve the practice and effectiveness of boards of directors. But while much has been written about CG in developed countries, developing countries represent relatively untravelled territory in terms of CG research. Libya is the largest oil producer in Africa and its oil revenues form a steady stream of income for the country. However, the country ranks low in terms of international measures of governance. As an Islamic state, with a population that is approximately 97 per cent Sunni Muslim, the prevailing culture, systems, rules and regulations are all profoundly influenced by Islamic precepts. Indeed, the Central Bank of Libya (CBL) has taken steps towards developing a dual system of conventional and Islamic banking. As such, CG and boards of directors (BODs) in the banking sector are highly influenced by Shari’ah law and Shari'ah supervisory boards (SSBs). This research aims to examine the practices, roles and responsibilities of BODs in the Libyan banking sector (LBS) and to identify the factors that facilitate or hinder boards in carrying out these roles and responsibilities. Achieving this overarching aim will help bridge a gap in knowledge in terms of the roles and functions of Libyan boards of directors. To this end, the research investigates boardroom norms in the banking sector in the context of the board’s strategic, service and control and monitoring roles. The main goals of this research are to contribute to current literature and to provide insights that can be applied to corporate governance practice in Libya and, more broadly, the country’s economic development. The study adopts a pragmatic paradigm to address its central research questions. A mixed-method approach was employed: quantitative data was collected by means …
author: Shalba, A
language: en
date published: 2016
date modified: 2026-07-24T06:30:54Z
provider: Nottingham Trent University
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: Nottingham Trent University