Stipulations and Ethics of Fatwa in the Institutional Framework - Appendix A (Brief History of the Preparation of the Standard)

Transcription

1. Shari ’ah Standard No. (29): Stipulations and Ethics of Fatwa in the Institutional Framework Appendix (A) Brief History of the Preparation of the Standard The Shari’ah Board decided in its meeting No. (14) held in Dubai (U.A.E) on 21–23 Rabi’ I, 1426 A.H., corresponding to 30 April – 2 May 2005 A.D., to issue a Shari’ah Standard on Controls and Ethics of Fatwa in the Institutional Framework. On 29 Jumada I, 1426 A.H., corresponding to 6 July 2005 A.D., the Shari’ah Standards Committee decided to commission a Shari’ah consultant to prepare a study on Controls and Ethics of Fatwa in the Institutional Framework. The study was discussed in a meeting of a joint committee comprising Shari’ah Standards Committees (1) and (2) held in Makkah Al-Mukarramah on 8–9 Rabi’ I, 1427 A.H., corresponding to 6–7 April 2006 A.D., and the consultant was advised to incorporate necessary changes, in the light of the discussions and observations raised in the meeting. The revised draft of the Standard was submitted to the Shari’ah Board in its meeting No. (16) held in Al-Madinah Al-Munawwarah on 7–12 Jumada I, 1427 A.H., corresponding to 3–8 June 2006 A.D. Further changes were introduced in the draft and the board decided to send it to the concerned experts for review and observations before discussing it in a public hearing. AAOIFI then held, in the Kingdom of Bahrain on 6 Rajab 1427 A.H., corresponding to 31 July 2006 A.D., a public hearing which was attended by more than 30 participants representing central banks, institutions, accounting firms, Shari’ah scholars, university teachers and other interested parties. Several observations were made in the session to which the members of the Shari’ah Standards Committees (1) and (2) duly responded. 747
2. Shari ’ah Standard No. (29): Stipulations and Ethics of Fatwa in the Institutional Framework In its meeting No. (17) held in Makkah Al-Mukarramah on 26 Shawwal – 1 Dhul-Qa’dah, 1427 A.H., corresponding to 18–23 November, 2006 A.D., the Shari’ah Board accepted the changes proposed by the participants in the public hearing and adopted the Standard (unanimously for some clauses and with the majority for others), as indicated in the minutes of the Board’s meetings. 748