AAOIFI Shariah Standards
Conversion of a Conventional Bank to an Islamic Bank: 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 2000 A.D., the Shariah Board decided to give priority to the preparation of a Shariah Standard on Conversion of a Conventional bank to an Islamic Bank.
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On Monday 29 Ramadan 1421 A.H., corresponding to 25 December 2000 A.D., a Shariah consultant was commissioned to prepare a juristic study and an exposure draft.
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