Protection of Capital and Investments - Appendix A (Brief History of the Preparation of the Standard)

Transcription

1. Shari ’ah Standard No. (45): Protection of Capital and Investments Appendix (A) Brief History of the Preparation of the Standard On 24 Dhul-Qa’dah 1428 A.H., corresponding to 20 December 2007 A.D., the General Secretariat decided to commission a Shari’ah consultant to prepare a juristic study on Protection of Capital and Investments. In its meeting held in Kuwait, on 20 Shawwal 1430 A.H., corresponding to 9 February 2009 A.D., the Shari’ah Standards Committee discussed the draft of a Shari’ah Standard on Protection of Capital and Investments and made necessary amendments. The revised draft of the Shari’ah Standard was presented to the Shari’ah Board in its meeting No. (24) held in the Kingdom of Saudi Arabia, during the period of 25-27 Jumada II, 1430 A.H., corresponding to 18-20 June 2010 A.D. The amendments that were deemed appropriate were included. The General Secretariat held a public hearing in the Kingdom of Bahrain, on 27 Safar 1431 A.H., corresponding to 11 February 2010 A.D. All the comments made in the public hearing were listened to, and a member of the Shari’ah Board answered these comments and made commentary on them. In its meeting No. (26) held in the Kingdom of Bahrain, during the period of 24-26 Rabi’ I, 1431 A.H., corresponding to 10-12 March 2010 A.D., the Shari’ah Board discussed the amendments proposed by the participants in the public hearing and incorporated the amendments that it considered suitable. In its meeting No. (28) held in the Kingdom of Bahrain during the period of 22-24 Dhul-Qa’dah 1431 A.H., corresponding to 28-30 November 2010 A.D., the Shari’ah Board discussed the draft of the Standard, incorporated 1108
2. Shari ’ah Standard No. (45): Protection of Capital and Investments the necessary amendments that it deemed appropriate, and adopted the Standard. In its meeting held in Al-Madinah Al-Minawwarah, on 30 Sha’ban 1436 A.H., corresponding to 17 June 2015 A.D., the Shari’ah Standards Review Committee reviewed this Standard. After deliberation, the committee approved necessary amendments, and the Standard was adopted in its current amended version. 1109