AAOIFI Shariah Standards
Settlement of Debts by Set-Off: Appendix A - Brief History of the Preparation of the Standard
In its meeting No. (2) held in Makkah Al-Mukarramah 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 settlements of debt by way of set-off.
On Tuesday 27 Ramadan 1420 A.H., corresponding to 4 January 2000 A.D., one Shari’ah consultant was commissioned to prepare a juristic study and an exposure draft.
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