by Stefano Loconte
As commonly known, the Shariah supervisory board has the crucial role of controlling and providing guidelines, advice and Fatwas to banks and institutions regarding Shariah compliant incomes and earnings.
In most Islamic countries, the financial institutions are ‘highly recommended’ to establish an independent Shariah supervisory committee even if not explicitly legally required.
Therefore, is it feasible in Italy to create in a joint stock company an internal board to supervise Shariah compliance?
Finds the answers and considerations on these issues by our Managing partner Stefano Loconte on IFN Volume 17 Issue 43 dated the 28th October 2020.
You can read it online at this link