Sharia standards are essential to Islamic finance because they promote harmonisation of international standards, enhance users’ confidence and encourage growth in demand. That was the message from Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) chairman Shaikh Ebrahim bin Khalifa Al Khalifa.
“Most importantly, Sharia standards provide clarity to the industry on rules and principles that must be incorporated into Islamic financial operations so as to ensure full compliance with Sharia principles,” he said……………………………………….Full Article: Source