Irrigation Partnership (Musaqat) - Appendix A (Brief History of the Preparation of the Standard)

Transcription

1. Shari ’ah Standard No. (50): Irrigation Partnership (Musaqat) Appendix (A) Brief History of the Preparation of the Standard On 24 Dhul-Qa’dah 1431 A.H., corresponding to 30 November 2010 A.D., the Secretariat of AAOIFI decided to commission a Shari’ah consultant to prepare a juristic study on Irrigation Partnership (Musaqat). In its meeting No. (30) held in the Kingdom of Bahrain, on 24-26 Jumada II, 1432 A.H., corresponding to 27-29 May 2011 A.D., the Shari’ah Board discussed the exposure draft of the standard and introduced the changes it deemed suitable. In its meeting No. (31) held in the Kingdom of Bahrain, on 22-24 DhulQa’dah 1432 A.H., corresponding to 20-21 October 2011 A.D., the Shari’ah Board also discussed the exposure draft of the standard and introduced the changes it deemed suitable. In its meeting No. (32) held in Al-Madinah Al-Munawwarah, on 8-9 Rabi’ II, 1433 A.H., corresponding to 1-2 March 2012 A.D., the Shari’ah Board continued its discussions on the draft exposure of the standard and introduced the changes it deemed suitable. The Secretariat of AAOIFI held a public hearing in the Kingdom of Bahrain on 16 Jumada II, 1433 A.H., corresponding to 7 May 2012 A.D. The public hearing was attended by representatives of central banks, institutions, auditing firms, Shari’ah scholars, academics and others interested in this field. The members of the Shari’ah Board and the Shari’ah Standards Committee responded to a number of observations and comments raised by the participants. In its meeting No. (33) held in Makkah Al-Mukarramah on 19-21 Shaw Shawwal wal 1433 A.H., corresponding to 6-8 September 2012 A.D., the Shari’ah Board 1187
2. Shari ’ah Standard No. (50): Irrigation Partnership (Musaqat) discussed the changes proposed at the public hearing and introduced the changes it deemed suitable to the draft exposure of the standard. In its meeting No. (34) held in the Kingdom of Bahrain on 20-21 Safar 1434 A.H., corresponding to 3-4 November 2013 A.D., the Shari’ah Board discussed the exposure draft of the standard, introduced the changes that it deemed suitable and adopted the standard. In its meeting No. (35) held in Al-Madinah Al-Munwwarah on 22-23 Shawwal 1434 A.H., corresponding to 29-30 September 2013 A.D., the Shari’ah Board continued its discussions on the exposure draft of the standard, and introduced the changes it deemed suitable, and adopted the standard. 1188