AAOIFI Shariah Standards

Guarantees: Appendix A - Brief History of the Preparation of the Standard

In its meeting No. (2) held in Mecca on 10-14 Ramadan 1420 A.H., corresponding to 18-22 December 1999 A.D., the Shariah Board decided to give priority to the preparation of a Shariah Standard on Guarantees. On Tuesday 27 Ramadan 1420 A.H., corresponding to 4 January 2000 A.D., a Shariah consultant was commissioned to prepare a juristic study and an exposure draft.

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