Question
COLLIE
Bahrain
Salmabad, Kingdom of Bahrain
reasons. Examine the various reasons by which Riba prevents the country from flourishing in a hi
marks]
B. A Shariah Governance framework is needed for a strong system of rules and supervision. This
important for the future of Islamic banking because it will help Islamic banks follow the rules. Sh
is important because it might be hard to follow Islamic financial rules if the infrastructure is not |
products and activities of Islamic Banking are different from those of regular banking. Islamic bai
the rules of the Shariah Supervisory Board. Critically analyze five roles the Shariah Supervisory B
keep Islamic Banking in check.
a usine Shariah-comr
Answer
The Shariah Supervisory Board plays five key roles in keeping Islamic Banking in check: setting standards, monitoring compliance, providing guidance, issuing rulings, and enforcing regulations. These roles are important for the future of Islamic banking as they help Islamic banks follow the rules and ensure that the products and activities of Islamic Banking are in line with the rules of the Shariah.