The proposal by AAOIFI for centralized Sharia boards, if implemented in countries active in Islamic finance, will help the industry move toward greater standardization and harmonization in Sharia interpretations, S&P Global Ratings said.
Islamic financial institutions' business activities must comply with Islamic law (Sharia) and the industry has shown strong growth over the past decade, said an industry expert.
“Therefore, we think Sharia governance wil
Dubai-based Damac Properties has announced the release of the second phase of luxury hotel apartments in Ghalia following a sold-out phase one.
Ghalia offers the first certified Sharia-compliant serviced hotel apartments, with con
The United Arab Emirates' cabinet has approved the creation of a centralised sharia authority that will monitor and set standards for Islamic finance in the country, aiming to boost growth of the industry.
The authority, to be
Takaud, a top savings solutions provider, and Takaful International, Bahrain’s leading Islamic insurance company, have partnered to provide Takaful’s individual and corporate life insurance clients with innovative Sharia-compliant in
A new sharia standard on gold, including rulings for gold-based financial products, will be developed under a new initiative by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). A statement by the Bahrain-ba
Bahrain's financial regulator plans to establish by the end of this year a central sharia board of scholars that will oversee the kingdom's Islamic finance sector, a central bank official said.
The World Islamic Banking Conference (WIBC) 2015 set to take place in December in Bahrain will launch a critical report establishing a set of global “Millennium Goals” for the Islamic finance human capital segment.
The Abu Dhabi City Municipality has launched a public tender for developing, investing and managing Sharia Park in Abu Dhabi, UAE, according to a report.
The project is part of the municipal system's commit
Ijmal, a leading real estate investment flagship of Saudi Arabia, has hired Shariyah Review Bureau (SRB), to help achieve sharia compliance in all its business activities.
In this role, SRB will lead and