BANKING - Shariah Experts Push for Scholar Certificates: Islamic Finance

Sept. 1 (Bloomberg) -- Leading Islamic finance scholars are preparing the first global certification for Shariah experts, seeking to bolster the industry’s reputation and make it easier for banks to find qualified advisers.

ISLAMIC LAW - Organised tawarruq valid under Shariah : Nazim Yakubi

 published 28.07.2009 

The use of the organised tawarruq financing structure does not contradict Islamic law, prominent scholar Sheikh Nizam Yaquby said, disagreeing with a Saudi-based ruling to the contrary, reports Reuters.Tawarruq is a key financing structure of the $1 trillion Islamic finance industry. But whether or not the way it is organised in modern banks contradicts sharia, or Islamic law, has triggered fiery debates between scholars as the industry is struggling with a decline in business during the global financial crisis, the report said.