Menu:

UAE needs unified sharia board to boost market: central bank

23/05/2012

0 Comments

 
Photo
The United Arab Emirates needs a centralized body for the Islamic finance industry to help develop its sukuk market further, a top central bank official said on Wednesday.

Saif al-Shamsi, assistant governor for monetary policy and financial stability, said the law calls for a central sharia committee at the federal level that would work with sharia boards at the corporate level but that has not been implemented yet federally. 

Read More
Add Comment
 

Sharia scholar moots agency for standardising Islamic products

24/04/2012

0 Comments

 
Photo
Dr Ali Mohiyuddin Al Quradaghi, one of the top sharia scholars in the Gulf Cooperation Council (GCC) on Islamic finance, has mooted the need for the establishment of an institution that could certify and standardise the different Islamic products in the market. 

Read More
Add Comment
 

Women Scholars Struggle for a Place in Islamic Finance Sector

17/03/2011

0 Comments

 
Picture
Engku Rabiah Adawiah Engku Ali says she became the first female Islamic finance scholar after failing to progress in her preferred field of juvenile law.

Now Engku Rabiah is among at least 16 women experts in Malaysia and Indonesia helping to solve a shortage of industry talent.
Add Comment
 

The role of the Shari'ah Supervisory Boards

02/11/2010

2 Comments

 
Picture
Recent developments in the Islamic finance market prompted the industry to rethink the role of Shari'ah scholars. Most Islamic financial institutions appoint a supervisory board or committee of religious scholars who are tasked with reviewing their transactions in order to ensure that they comply with the principles of Islamic Shari'ah in their business and financial dealings. A Shari'ah supervisory board or committee approves or rejects a transaction through the issuance of a fatwa (an opinion or proclamation about the Shari'ah compliance of such a transaction).
2 Comments
 

Finance in desperate need of high-quality scholars

24/05/2010

0 Comments

 
Picture
The Islamic Finance market is in desperate need of high-quality scholars who will help to grow the industry, Islamic banking industry specialists said yesterday at the Menasa Forum in Dubai.

Conventional banking has strict regulations, and Islamic banking has its Sharia scholars.

Harris Irfan, head of Islamic Products for Barclays Capital and Barclays Wealth, said there were only 15 very well-known names, leaving a gaping hole, with Islamic banks searching for solutions in a $1 trillion market.
 
Add Comment