From Aawsat.com: The Sharia body is an important part of the Islamic financial institution as well as of any conventional institution that offers Islamic financial services and products. It is what gives the financial institution the right to market itself or its products as Sharia compliant.
The reason for this is that the Islamic financial services are derived from Islamic Sharia law, and those who can derive Sharia law from it and can apply it to reality in the correct manner need to be highly qualified. Such a qualification can only be found in scholars of Sharia law and jurists……………………………….Full Article: Source