Search DubaiPRNetwork.com

Home >> Banking & Investments

The Higher Sharia Authority at the Central Bank Held Its Forth Meeting

The Higher Sharia Authority at the Central Bank Held Its Forth Meeting

Monday, July 2, 2018/ Editor -  

Share

Home >> Banking & Investments

Dubai, UAE, July 02, 2018:   The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam Muhammad Ishaq,Sheikh Dr. Oznan Hasan, and Sheikh Dr. Usaid Muhammad Adeeb Al Kilani. 

The HSA discussed a number of matters related to prudential standards and guidance for the banking system in the UAE. The HSA passed a number of resolutions and directives related to the Sharia aspects of these standards taking into consideration the requirements of Islamic financial institutions (IFIs).
 
The HSA has also discussed the draft standard regarding Sharia governance of Sukuk issuance, regulating the Sharia procedures of this important Islamic financial instrument.
 
Based on the recommendations adopted by international bodies to promote Sharia governance in IFIs, the HSA reviewed a draft standard on External Sharia Audit for Islamic financial institutions, in line with the application of international best practice.
 
In order to issue a comprehensive Sharia governance standard, the HSA also discussed additional standards for Sharia governance concerning independence, consistency of opinions and charters that organize the work of internal Sharia control committees in the IFIs.
 
The HSA completed the discussion of the remaining topics listed on its agenda, as well as other topics, and took appropriate decisions in this regard. 
 

Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Add a touch of gold to your skincare regimen for glowing results

Al Haramain Group Chairman Mohammed Mahtabur Rahman awarded UAE Gold Visa

Schneider Electric Improves Flexibility & Energy Savings with Extended Line of P ...

Corum Golden Bridges

Emirates commits to reducing single-use plastic on board

Ferragramo Cuir

DarkMatter Group Calls for Improved Vigilance as UAE's Cyber-threat Landscape Re ...

du Introduces Apple Device Enrolment Program for UAE Business Customers

HP's Safe, Smart, and Secure Devices Improve Care Delivery

Turkish Airlines was chosen again “Turkey's Most Valuable Brand” in all sectors.

Dubai Parks and Resorts hosts Consul General of the Philippines in Dubai on the ...

Dubai Customs boosts productivity through AI based system

Vatika Awarded Superbrands Status in UAE 2019

Al-Futtaim Engineering & Technologies Sponsor annual Genesys G-Summit Middle Eas ...

Get lucky at Ibn Battuta Mall this DSS with prizes worth AED500,000 and a brand ...

Win holidays at Le Meridien Dubai

Barclays Named ‘Middle East Financial Services Advisor of the Year' in Mergermar ...

Marks & Spencer Unveils Its Chic Linen Summer Collection'

Forcepoint X-Labs Reveals How Cognitive Bias Leads to Reasoning Errors in Cybers ...

Pogacar Hoping to Be the Hero on Home Soil