AAOIFI Shariah Standards
Impact of Contingent Incidents on Commitments: Scope & Shariah Ruling
This Standard covers the contingent incidents encountered in honoring the commitments that stem from application of Islamic modes of financing and investment by Islamic financial institutions (Institution/Institutions). It also covers the effects of such incidents on commitments.
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The Standard, however, does not cover defects of will or the conducts that result from mutual consent of the two parties.
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