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Gulf states plan supreme Shariah council for banks

Posted on 10 June 2011

Gulf states are working towards the creation of a single Sharia board for the region’s Islamic financial institutions, said Hussain Hamed Hassan, head of Dubai Islamic Bank PJSC’s Sharia committee and chairman of the Sharia Coordination Committee of the Islamic Financial Institutions in the UAE.
Speaking at the launch of Hawkamah Institute’s policy brief on corporate governance of Islamic banks and Islamic financial institutions, Hassan said creation of a supreme Sharia council will help in co-ordinating the rulings of various Sharia councils and supervisory boards in the region and will reduce the possibility of differences………………………………………..Full Article: Source

 
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