AAOIFI Shariah Standards

Rules for Calculating Profit in Financial Transactions: Appendix A - Brief History of the Preparation of the Standard

On 14 Rabi’ I, 1429 A.H., corresponding to 20 April 2008 A.D., the General Secretariat decided to commission a Shariah consultant to prepare a juristic study on Calculating Profit in Financial Transactions.

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In its meeting held in Kuwait, on 24 Ramadan 1431 A.H., corresponding to 28 January 2010 A.D., the Shariah Standards Committee discussed the draft of a Shariah Standard on Calculating Profit in Financial Transactions and made necessary amendments.

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

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