Islamic finance mulls global sharia adviser platform

Aug 25 (Reuters) – A global authority may be set up to oversee Islamic finance sharia advisers, a religious scholar said, amid calls to address the fragmented regulation which threatens to slow the industry’s growth.

The role of sharia scholars has been a growing point of debate as the $1 trillion industry’s rapid rise raises issues such as the shortage of advisers, conflicts of interest and a lack of transparency in their rulings.

International Sharia Research Academy for Islamic Finance

Sharia scholars shape the direction of the Islamic finance industry by issuing fatwas on financial instruments and banking practices. Continue reading