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Islamic Finance Briefing - Categorized | Accounting and Audit, Finance, Islamic Law / Economics, Market Moves more

Are Shariah advisories becoming an endangered species?

Posted on 13 December 2010

From Arabnews.com: Reports that the Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is in the process of drafting rules to regulate the shareholdings and the number of supervisory boards individual Shariah advisories can sit on will open one of the most contentious issues in contemporary Islamic finance.

Not that the issue is new. There have been calls for the registration of Shariah advisories for the last two decades — not by an industry Shariah body but by the regulators in the country in which they are based and in those countries in which they offer advisory services…………………………………….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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