Minhaj Hosts the meeting of Shari’ah Standards Sub-Committee in Dubai

2015-10-26

Minhaj Advisory hosted the meeting of Accounting and Auditing Organization for Islamic Financial Institutions' Shari'ah Standards sub-committee in Dubai on Sunday 12 Muharram 1436H corresponding to 25 October 2015AD.

The standard study has been approved by the committee at their meeting conducted last month to discuss the draft Cards Standard. The new draft contained the standard Shari’ah treatment of many of the issues and developments in the world of bank cards, in addition to exploring all the alternatives applied by Islamic banks around the world of credit cards with revolving credit.
It is worth mentioning that AAOIFI has taken steps to review the issued standards, and formed among its members  special committees to review the comments received from scholars or experts on the criteria form or substance, and to ensure meeting the industry needs on one hand and address the developments on the other.