There is a growing concern emerged with a great profile regarding the Islamic principles of corporate
governance. A major ethical component of any economic activity in Islam is to provide justice, honest
and fairness and to ensure all parties their rights and dues. Islamic economy has progressed a great
deal during these last two decades with impetus as an important concern in developing an Islamic
corporate system. This paper is an attempt to discuss the nature, applications and comparison of Islamic
principles of corporate governance (IPCG) with conventional principles of corporate governance
considering special reference to Organization of Economic Co-operation and Development (OECD).
After the discussion, it can be concluded that the dimension of Islamic perspectives of corporate
governance has broader horizon and cannot compartmentalize the roles and responsibilities in which
all actions and obligations fall under the jurisdiction of the divine law of Islam whereas, the OECD
principles implements a firm with six different issue and obligations. Furthermore, this paper can
provide some insight view in fettering mechanism to controlled, direct and organized economic
activity from the Islamic point of view