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Gulf Arab states may have a single Shariah board for the region’s Islamic financial institutions in five to 10 years, a Shariah scholar said in Dubai today.
A “supreme Shariah council” will help reduce the cost of issuing sukuk and boost Islamic services offered by financial institutions that comply with the religion’s ban on interest, said Hussain Hamed Hassan, head of Dubai Islamic Bank PJSC (DIB)’s Shariah committee………………………………………..Full Article: Source
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Islamic Finance Briefing - Categorized | Accounting and Audit, Compliance, Tax, Legal, Regulatory, Market Moves more
Gulf states plan to have united Shariah council by 2021
| Posted on 09 June 2011 |
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