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Differences between Sharia standards, statutory laws and judicial rulings on Ijarah application within Islamic banks in Bahrain can be reconciled without fundamental changes, a leading expert has said.
This was the view of Bahrain Islamic Bank head of Sharia co-ordination and implementation Dr Hamad Al Shaikh in a presentation delivered during a Waqf Fund event, where he compared the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) Sharia standard on Ijarah with the relevant laws and judicial rulings in Bahrain .
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