This Board will help guide the Bank's transactions in accordance with the principles of Shariah
At the same time, Security and Exchange Commission of Pakistan (SECP), the government's capital markets' regulator, has approved the rules and functional modes and has appointed its own Shariah
Advisory Board (SAB) to undertake this work.
The roadmap entailed centralization of the Shariah
related capital market activities, introduction of uniform Shariah
regulations for the takaful, modarabas, Islamic mutual funds, Islamic pension funds, Islamic REITs, other Islamic financial institutions (other than banking), Shariah
compliant (non-financial) companies, Islamic products and instruments, it added.
Efficient frontiers of mixed-asset portfolios have been constructed to evaluate the diversification benefits of Shariah
non-compliant listed construction companies and Shariah
-compliant listed construction companies in a mixed-asset portfolio.
This is the first time ITFC collaborates in Shariah
Joint Trade Financing with an Indonesian bank, and it is with great pride that Danamon was appointed by ITFC as its agent to arrange the financing to customers as well as provide trade finance services and trade collateral management.
The central bank will introduce new shariah
governance rules to expand the internal shariah
review and audit functions, while making it mandatory for banks to have an independent external shariah
, which means ''path'' in Arabic, is a wide ranging collection of ethical and legal principles based on Scriptures of the Holy Quran, Hadiths (words of Prophet Mohammad (PBUH)) and Fiqh (evidence found in the Shari'ah, and from consensus of Islamic scholars).
Under the sponsorship of Alinma Bank, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held its Shariah
standards hearing session in Riyadh.
It is also the first fund in the US to be supervised for Shari'a compliance by a GCC based shariah
The second group of investors looks to Shariah
funds to diversify their portfolios away from certain assets that are more prominent within conventional funds and are seen as being more susceptible to economic volatility.
Mena Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients," said Saleem Khokhar, the Head of Equities at NBAD's Asset Management Group.
Ghulam Yousaf, Program Coordinator/Chairman, Department of Shariah
and Law, AIOU.
22, 2014 /PRNewswire/ -- S&P Dow Jones Indices today announced the launch of the S&P GCC Composite Shariah
Dividend Index which is designed to measure the performance of the highest yielding, Shariah
-compliant stocks from the Gulf Cooperation Council (GCC) region that meet respective liquidity, dividend growth, and dividend sustainability criteria.
7 ( ANI ): Libya has recently decided its new constitution will be based on Shariah
law, which has caused panic among the nation's small Christian community.
finance rules, usury - charging high interest rates on lending out your money - is forbidden.