Salam And Parallel Salam - Appendix A (Brief History of the Preparation of the Standard)

Transcription

1. Shari ’ah Standard No. (10): Salam and Parallel Salam Appendix (A) Brief History of the Preparation of the Standard In its meeting No. (5) held in Makkah Al-Mukarramah on 8-12 Ramadan 1421 A.H., corresponding to 4-8 December 2001 A.D., the Shari’ah Board decided to give priority to the preparation of the a Shari’ah rules for Salam and Parallel Salam. On Monday 11 Shawwal 1420 A.H., corresponding to 17 January 2000 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 Salam and Parallel Salam. In its meeting held in Bahrain on 21-23 Muharram 1421 A.H., corresponding to 26-28 April 2000 A.D., the Fatwa and Arbitration Committee discussed the exposure draft of the Shari’ah rules for Salam and Parallel Salam and asked the consultant to make the amendments in light of the comments made by the members. In its meeting No. (4) held in Abu Dhabi, United Arab Emirates, on 14 Sha’ban 1421 A.H., corresponding to 10 November 2000 A.D., the Fatwa and Arbitration Committee discussed the exposure draft and made some relevant amendments. The revised exposure draft of the Shari’ah rules was presented to the Shari’ah Board in its meeting No. (5) held in Makkah Al-Mukarramah on 8-12 Ramadan 1421 A.H., corresponding to 4-8 December 2000 A.D. The Shari’ah Board made further amendments to the exposure draft of the standard and decided that it should be distributed to specialists and interested parties in order to obtain their comments to discuss them in a public hearing. 281
2. Shari ’ah Standard No. (10): Salam and Parallel Salam A public hearing was held in Bahrain on 4-5 Dhul-Hajjah 1421 A.H., corresponding to 27-28 February 2001 A.D. The public hearing was attended by more than 30 participants representing central banks, institutions, accounting firms, Shari’ah scholars, academics and others interested 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 Fatwa and Arbitration Committee held its meeting No. (5) in Bahrain on 15 Dhul-Hajjah 1421 A.H., corresponding to 10 March 2001 A.D., to discuss the comments made about the exposure draft. The committee made the necessary amendments in light of both the written comments that were received and oral comments that took place in the public hearing. The Shari’ah Board in its meeting No. (6) held in Al-Madinah Al-Munawwarah on 25-29 Safar 1422 A.H., corresponding to 19-23 May 2001 A.D., discussed the amendments made by the Fatwa and Arbitration Committee, and made the necessary amendments. The standard was adopted in the name of Shari’ah rules for Salam and Parallel Salam. Some paragraphs 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 Board decided in its meeting No. (7) held in Makkah AlMukarramah on 9-13 Ramadan 1422 A.H., corresponding 24-28 November 2001 A.D., to reformat all Shari’ah rules in a form of 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 reformatted version of the Shari’ah rules for Investment and Financing No. (3) on Salam and Parallel Salam with the title of Shari’ah Standard No. (9) on Salam and Parallel Salam, without any substantial changes in the content. 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., 282
3. Shari ’ah Standard No. (10): Salam and Parallel Salam 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. (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. 283