Sharia Supervisory Board


Sharia Supervisory Board
International, USA
Sharia Committee, Also known as a Sharia Supervisory Board.
A panel of Islamic scholars that determines whether a product, practice or service is Sharia-compliant. Generally, each Islamic finance institution or conventional financial institution that wishes to develop financial products and services for Muslims establishes a committee composed of one or more reputable Islamic finance scholars to pass judgment or issue fatwa indicating that the product or service is Sharia-compliant.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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