May 19, 2024

Banks discuss plan for centralised Shari’ah board

July 2015

The United Arab Emirates' bank industry association has discussed a proposal to create a centralised Shari’ah board that would monitor Islamic banking, which could spur the growth of the industry, according to Reuters. The central bank had proposed setting up a Higher Shari’ah Authority that would complement and oversee the work of Shari’ah boards at individual Islamic banks. This...

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