Nov 3, 2024 | Blog, Islamic Finance
If you apply for finance at an Islamic Financial Institution (IFI), you will usually be asked to sign a unilateral promise/undertaking to purchase the particular asset from the IFI once they have purchased the asset and subsequently have ownership and possession over...
Nov 3, 2024 | Blog, Islamic Finance
A fact of life is that sometimes people need cash for certain expenses and in this day and age it is not always easy to get an interest-free loan from relatives or friends especially if the amount required is large. In such scenarios the best option currently...
Oct 25, 2024 | Blog, Islamic Finance
Due to Shariah Governance regulations and the subsequent restrictions on the number of Shariah Committee memberships, many of the Senior Shariah Scholars of the Islamic finance industry have had to reduce the number of Shariah Committees that they are a member of....
Oct 25, 2024 | Blog, Islamic Finance
Shariah Committee members are renumerated for the time and expertise that they give to the financial institutions that they are a part of. Such renumeration should not be linked to the approval of any specific product or linked to the profitability and financial...
Oct 25, 2024 | Blog, Islamic Finance
While previously the regulators took a more loose approach to Shariah Governance in some of the Gulf countries, in recent years there has been implementation of comprehensive Shariah Governance Frameworks. One of the many areas which has been directly affected is...
