Sharia Governance (SG) and Virtuous Governance (VG): A Comparison

Abstract

This study aims to compare four guidelines/frameworks for Sharia Governance, namely: General Guidelines for Sharia Business Good Governance (GGSBGG) for Islamic business organizations, Zakat Core Principle (ZCP), General Guidelines for Governance of Indonesian Non-Profit Organizations (GGG-INO), and virtuous governance for philanthropic institutions. This comparison shows the fundamental differences between these guidelines/frameworks so that the advantages and disadvantages of these guidelines are known. This study uses a qualitative approach with a literature study method. The four guidelines/frameworks have differences in the substance of the drivers, foundations, orientation (scope), principles, functions, structures, processes, and objectives (wisdom) of governance. The fundamental difference between virtuous governance and the other three governance systems lies in the driving factors, and the foundation of governance affects the values implemented by philanthropic institutions. This value difference will affect governance's concept, principles, processes, and objectives.