Procrastinating Debtor - Appendix A

Transcription

1. Shari ’ah Standard No. (3): Procrastinating Debtor Appendix (A) Brief History of the Preparation of the Standard In its meeting No. (1) held in Bahrain on Saturday 11 Dhul-Qa’dah 1419 A.H., corresponding to 27 February 1998 A.D., the Shari’ah Board decided to give priority to the preparation of a Shari’ah standard on procrastinating debtor. On Saturday 11 Dhul-Qa’dah 1419 A.H., corresponding to 27 February 1999 A.D., a Shari’ah consultant was commissioned to prepare a juristic study and an exposure draft. In its meeting held in Bahrain on 13-16 Rabi’ I, 1420 A.H., corresponding to 27-30 June 1999 A.D., the Shari’ah Studies Committee discussed the juristic study and introduced certain amendments to it. The Committee further discussed the exposure draft of the standard in its meeting No. (3) held in Bahrain on 9-11 Rajab 1420 A.H., corresponding to 18-20 October 1999 A.D., and asked the consultant to make additional amendments to reflect the comments made by the members. The revised exposure draft of the standard was presented to the Shari’ah Board in its meeting No. (2) 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 standard, and decided that the amended exposure draft should be distributed to specialists and interested parties 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 banks, Institutions, accounting firms, Shari’ah scholars, academics and others who are interested 92
2. Shari ’ah Standard No. (3): Procrastinating Debtor in this field. Members of the Shari’ah Studies Committee responded to the written comments that were sent prior to the public hearing as well as to the oral comments that were expressed in the public hearing. The Shari’ah Studies Committee held its meeting No. (5) on 22-24 Muharram 1421 A.H., corresponding to 26-28 April 2000 A.D., to discuss the comments made about the exposure draft. The Committee made the necessary amendments, which it deemed necessary in light of both the discussions that took place in the public hearing, and the written comments that were received. The Shari’ah Board in its meeting No. (4) held on 25–27 Safar 1421 A.H., corresponding to 26-28 May 2000 A.D., in Al-Madinah Al-Munawwarah discussed the amendments made by the Shari’ah Studies Committee, and made the necessary amendments, which deemed necessary. Some paragraphs of the standard were adopted 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. The Shari’ah Standards Review Committee reviewed the standard in its meeting held in Muharram 1433 A.H., corresponding to November 2011 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. In its meeting No. (38) held in Al-Madinah Al-Munawwarah, Kingdom of Saudi Arabia on 28 Sha’ban - 1 Ramadan 1435 A.H., corresponding to 2628 June 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 the necessary amendments, and the standard was adopted in its current amended version. 93