Ijarah and Ijarah Muntahia Bittamleek - Appendix A (Brief History of the Preparation of the Standard)

Transcription

1. Shari ’ah Standard No. (9): Ijarah and Ijarah Muntahia Bittamleek Appendix (A) Brief History of the Preparation of the Standard In its meeting No. (1) held on 11 Dhul-Hajjah 1419 A.H., corresponding to 27 February 1999 A.D., the Shari’ah Board decided to give priority to the preparation of the Shari’ah rules for Ijarah and Ijarah Muntahia Bittamleek. On Tuesday 13 Dhul-Hajjah 1419 A.H., corresponding to 30 March 1999 A.D., the Fatwa and Arbitration Committee decided to commission a Shari’ah consultant to prepare a juristic study and an exposure draft on the Shari’ah Rules for Ijarah and Ijarah Muntahia Bittamleek. In its meeting held on 13-14 Rajab 1420 A.H., corresponding to 22-23 October 1999 A.D., the Fatwa and Arbitration Committee discussed the exposure draft of the Shari’ah Rules for Ijarah and Ijarah Muntahia Bitamleek, and asked the consultant to make the amendments in light of the comments made by the members. The revised exposure draft of the Shari’ah Rules was presented to the Shari’ah Board in its meeting No. (3) held in Mecca on 10-15 Ramadan 1420 A.H., corresponding to 18-22 December 1999 A.D. The Shari’ah Board made further amendments to the exposure draft of the Shari’ah Rules and decided that it should be distributed to specialists and interested parties in order to obtain their comments in order to discuss them in a public hearing. A public hearing was held in Bahrain on 29–30 Dhul-Hajjah 1421 A.H., corresponding to 4-5 April 2000 A.D. The public hearing was attended by more than 30 participants representing central Institutions, accounting firms, Shari’ah scholars, academics and others who are interested in this field. The members responded to the written comments that were sent prior 253
2. Shari ’ah Standard No. (9): Ijarah and Ijarah Muntahia Bittamleek to the public hearing as well as to the oral comments that were expressed in the public hearing. The Shari’ah Standards Committee and the Fatwa and Arbitration Committee held a joint meeting on 21-23 Muharram 1421 A.H., corresponding to 26-28 April 2000 A.D., to discuss the comments made about the Shari’ah Rules. The committee made the amendments which it considered necessary in light of the discussions that took place in the public hearing. The Shari’ah Board in its meeting No. (4) held on 25–27 Safar 1421 A.H. corresponding to 29–31 May 2000 A.D., in Al-Madinah Al-Munawwarah discussed the amendments made by the Shari’ah Studies Committee and the Fatwa and Arbitration Committee, and made the amendments which it considered necessary. Some paragraphs of the standard were adopted in the name of Shari’ah Rules for Ijarah and Ijarah Muntahia Bittamleek by the unanimous vote of the members of the Shari’ah Board, while the other paragraphs were adopted by the majority vote of the members, as recorded in the minutes of the Shari’ah Board. In its meeting No. (7) held on 9-13 Ramadan 1422 A.H. corresponding to 24-28 November 2001 A.D., in Makkah Al-Mukarramah, the Shari’ah Board decided to convert all Shari’ah rules for Investments and Financing to Standards and a committee was formed for this purpose. In its meeting No. (8) held in Al-Madinah Al-Munawwarah on 28 Safar - 4 Rabi’ I, 1423 A.H. corresponding to 11-16 May 2002 A.D., the Shari’ah Board adopted the reformatting of Shari’ah Rules for Ijarah and Ijarah Muntahia Bittamleek in the name of Shari’ah Standard No. (9) on Ijarah and Ijarah Muntahia Bittamleek. The committee did not make any changes to the substance. The Shari’ah Standards Review Committee reviewed the standard in its meeting held in Rabi’ II, 1433 A.H. corresponding to March 2012 A.D., in the State of Qatar, and proposed after deliberation a set of amendments (additions, deletions, and rephrasing) as deemed necessary, and then submitted the proposed amendments to the Shari’ah Board for approval as it deemed necessary. 254
3. Shari ’ah Standard No. (9): Ijarah and Ijarah Muntahia Bittamleek In its meeting No. (39) held in the Kingdom of Bahrain on 13-15 Muharram 1435 A.H., corresponding to 6-8 November 2014 A.D., the Shari’ah Board discussed the proposed amendments submitted by the Shari’ah Standards Review Committee. After deliberation, the Shari’ah Board approved necessary amendments, and the standard was adopted in its current amended version. 255