INTRODUCTION TO FATWA, SHARIA SUPERVISION & GOVERNANCE IN ISLAMIC FINANCE

“l foresee that the book will be very useful not only for now but for a long/er period in the future, as Islamic banking continues to play much bigger role as a most viable alternative to conventional banking, as it has proven in the East Asian Financial Crisis in 1997-98 and the current world economic and ﬁnancial turmoil that started since 2007. ” ‘ This book aims to provide a sound foundation of knowledge in fatwa and Shari’ah governance in Islamic Finance. This foundation is coupled with very important aspects of Islamic jurisprudence, legal maxims, and Islamic law of contracts. ‘ The objective of this book: – To provide a clear understanding of the concept of fatwa and Shari ’ah governance pertaining to business and ﬁnance. ‘ To give an overview on the major issues pertaining to fatwa and Shari ’ah governance. ‘ To understand the process of fatwa and its Shari ’ah framework in Islamic ﬁnance; – To understand the function of mnﬁi/Shari ’ah advisory in issuing fatwa and resolutions in the area of Islamic ﬁnance. – To provide comprehensive knowledge on the fundamentals required in fatwa in Islamic ﬁnance such as Islamic jurisprudence, Shari’a and theory of contract in Islamic commercial law. – To expose readers to different fatawa and resolutions issued by relevant Shari ’ah authorities in Islamic ﬁnance. ~ To understand fatwa in Islamic ﬁnance as one o’f the important corporate governance and appreciate its gravity in Islamic ﬁnance.