Meeting expectations: the roles and responsibilities of Shari'ah scholars in Islamic finance
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Islamic finance uses the Shari'ah as the backbone of its system. The Shari'ah not only contains the principles and foundations upon which the financial system is established, but alos provides guidance for setting the industry's direction. Practically speaking, it is the Shari'ah scholars, in their role as interpreters of the Shari'ah, who are charged with guiding the industry. They have a key role to play in maintaining the credibility and integrity of the industry by requiring Islamic financial institutions (IFIs) to adhere not only to the Shari'ah's technical requirements but to its values and principles as well...
Shari'ah scholars , Roles and responsibilities , Islamic finance
Laldin, M. A., & Furqani, H. (2014). Meeting expectations: the roles and responsibilities of Shari'ah scholars in Islamic finance. In M. Kabir Hassan & Mervyn K. Lewis (Eds.), Handbook on Islam and economic life (pp. 336-352). New York: Edward Elgar Publishing Limited.