Dec03

AAOIFI Shariah Board Adopts New Shari'ah Standards on Gold

Monday, 28 November 2016

Manama, Kingdom of Bahrain
28 November 2016

The Shari’ah Board of AAOIFI held its meeting No. 46 from 17 to 19 November 2016 in the Kingdom of Bahrain. Over more than 25 meeting hours, the board discussed specific issues and reviewed a number of technical and Shari'ah reports. The meeting was concluded with issuance of a number of resolutions as well as the adoption of two new Shari'ah standards, raising the total number of AAOIFI Shari'ah standards to 57. 

Mar24

Perak Sultan tells Islamic financial scholars, ulama to keep up with times

Wednesday, 23 March 2016

Perak Sultan tells Islamic financial scholars, ulama to keep up with times

KUALA LUMPUR, March 23 ― Perak’s Sultan Nazrin Muizzuddin Shah today told Islamic financial scholars and ulama to “think futuristically” in order to be current with contemporary developments.

He said they can act as “institutional game-changers” in helping Islamic finance grow, but must leave their “ivory towers” and become more involved in the industry.

Mar24

Jadikan produk kewangan Islam lebih sofistikated – Sultan Nazrin

Thursday, 24 March 2016

Jadikan produk kewangan Islam lebih sofistikated – Sultan Nazrin

KUALA LUMPUR 23 Mac – Para cendekiawan Islam diingatkan supaya lebih berani dan memainkan peranan penting dalam menjadikan produk-produk kewangan Islam relevan dan sofistikated, titah Sultan Perak, Sultan Nazrin Muizzuddin Shah.

Sultan Nazrin bertitah, pengli­batan golongan cendekiawan dalam produk-produk syariah amat mustahak bagi memperlihatkan perkembangan berterusan, inovasi dan pembangunan dalam kewangan Islam.

“Penglibatan cendekiawan Islam akan membuka lebih kemungkinan kepada penawaran produk yang lebih meluas dan lebih menarik bagi membolehkan penyediaan keperluan kewangan yang pelbagai dalam dunia yang kini berevolusi.

“Beta percaya, sebagaimana industri berevolusi pada tahun-tahun akan datang, peranan cendekiawan Islam akan menjadi lebih signifikan. Para cendekiawan adalah benteng dalam percambahan ilmu,” titah baginda pada majlis pelancaran buku Minda Syariah Kewangan Islam dan versi terjemahannya dalam bahasa Inggeris, Syariah Minds in Islamic Finance.

Mar24

Syariah advisers under-appreciated, says Perak sultan

Wednesday, 23 March 2016

Syariah advisers under-appreciated, says Perak sultan

Perak Ruler Sultan Nazrin Muizzuddin Shah is of the opinion that many may not fully appreciate the “enormous” responsibility of syariah advisers in giving their endorsements.

In his speech at the launch of the book 'Shariah Minds in Islamic Finance' by syariah adviser Mohd Daud Bakar, the Perak sultan pointed out how a feature unique to Islamic finance is the sacred trust placed on institutions to comply with Islamic principles.

“Therefore, every endorsement by syariah advisers is an assurance to the public that the institution in question is acting in accordance with religious tenets," he said.

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