AAOIFI Shariah Standards

Controls on Gharar in Financial Transactions : Appendix A - Brief History of the Preparation of the Standard

In its meeting No. (14) held on 21-23 Rabi’ I, 1426 A.H., corresponding to 30 April – 2 May 2005 A.D., in Dubai (U.A.E.), the Shariah Board decided to issue a Shariah Standard on Controls on Gharar in Financial Transactions.

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On 20 Jumada II, 1426 A.H., corresponding to 26 July 2005 A.D., the Shariah Standards Committee decided to commission a consultant to prepare a study on Controls on Gharar in Financial Transactions.

« Adoption of the Standard Appendix B - The Shariah Basis for the Standard »

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