Legal Bases of Conflict of Interest in Commercial Companies and Non-Commercial Institutions
Keywords:
Conflict of interest, Islamic jurisprudence, supervision, commercial law, non-commercial institutionsAbstract
Conflict of interest is a critical challenge in the management of both commercial companies and non-commercial institutions, which can negatively affect organizational efficiency, public trust, and managerial decision-making. This article uses a comparative approach to analyze the legal and Islamic jurisprudence dimensions of conflict of interest in Iran and other countries, offering strategies for managing this phenomenon. Initially, the key concepts and Islamic jurisprudence foundations of conflict of interest are explored, followed by an examination of existing laws in Iran and various countries, highlighting different approaches to managing conflicts of interest. Additionally, successful experiences from developed countries and international principles such as those of the Organization for Economic Cooperation and Development (OECD) are studied. The results reveal that although Iran has some general laws to address conflict of interest, there is a need for greater transparency, stronger supervisory systems, and more comprehensive legislation. Based on the findings, recommendations are made for improving Iranian laws and regulations and the role of managers and policymakers in preventing and managing conflict of interest. Future research in this area could also help identify new solutions to improve the performance of companies and non-commercial institutions.
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Copyright (c) 2024 Farnaz Ebrahimi (Author); Mehdi Shabanzadeh (Corresponding author); Mohammad Afras (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
