Watchdogs for cross-border Islamic banking: is there a need for an international Shari'ah advisory board?
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Islamic banking is unique and different from its conventional counterpart. This essentially means that we cannot carry out an apple to apple comparison between the two systems. Islamic banking is a system rooted in Islamic ideology. Overseeing of the whole system, thus naturally rests in the hands of those scholars who were educated in Islamic Shariah. This is the reason why several of the countries have established domestic Shariah advisory bodies, to monitor the administration of Islamic banking and the structuring of its products.
Islamic banking , Islamic law , Shariah governance , Contracts
Wisham, I., & Muneeza, A. (2012). Watchdogs for cross-border Islamic banking: is there a need for an international Shari'ah advisory board? Malayan Law Journal, 2, pg. clxxxi-cxcvi.
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