From Reuters: The formation of a Gulf-wide sharia council with the mandate to set industry rules, rather than just issue guidelines in its present form, is still “years away”, a senior executive at regulatory body AAOIFI on Monday.
Speaking on the sidelines of an industry conference, Assistant Secretary General Khairul Nizam said few expect such a centralised sharia council to be in place before 2013……………………………………….Full Article: Source