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ASK THE SCHOLAR  

In another exclusive from Islamic Finance news, we have teamed up with the International Shariah Research Academy for Islamic Finance, to offer our readers the opportunity to pose questions to some of the world's leading Scholars.

Complete the boxes below and we’ll publish your question and the Scholars response in a future issue of Islamic Finance news. All Questions and Answers will also be archived.

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Meet Your Scholars
 
SHEIKH DR MOHD DAUD BAKAR
Dr Mohd Daud is a Malaysian, currently Chief Executive/President International Institute of Islamic Finance (IIIF) and Amanie Business Solutions Sdn Bhd. He was formerly the Deputy Rector at the International Islamic University Malaysia. He is the Chairman of the Central Shari’ah Advisory Council of the Central Bank Malaysia and a member of Shari’ah Advisory Council of Securities Commission of Malaysia. He also serves as a member of Shari’ah Board of Accounting and Auditing Organisation for Islamic Financial Institutions, International Islamic Financial Market (Bahrain), Dow Jones Islamic Market Index, Unicom Investment bank (Bahrain) and BNP Paribas. He received his Bachelor of Shari’ah from the University of Kuwait, Bachelor of Jurisprudence, University of Malaya and PhD from the University of St. Andrews,Scotland.
 
SHEIKH DR MOHAMED ALI ELGARI
Dr Mohamed Ali Elgari who is from Saudi Arabia is currently Professor of Islamic Economics at King Abdul Aziz University, Saudi Arabia. He was formerly the Director of Center for Research in Islamic Economics of the same university. He is a member of Shari’ah Supervisory Board of Al-Jazira Bank apart from being an advisor to several financial institutions throughout the world. He is also a member of the Islamic Fiqh Academy of Organisation of Islamic Conference (OIC), International Islamic Financial Market, Accounting and Auditing Organisation for Islamic Financial Institutions and Dow Jones Islamic Market Index. A prolific writer, he has authored several books. He received his PhD in Economics from University of California, United States of America.
 
SHEIKH DATO’ DR ABDUL SHUKOR
Dato’ Dr Abdul Shukor is from Malaysia and is currently the Vice-Chancellor of the Islamic Science University Malaysia and also the Chairman of the National Fatwa Council, Malaysia. At international level, he is the Vice Chairman of Islamic Fiqh Academy of Organisation of Islamic Conference (OIC) representing Malaysia, he was formerly the Deputy Chairman, ASEAN Association of Islamic Intellectual from 1998 till 2001 and a Committee member of the World Islamic Higher Education Centre from 1993-1995. He sits in several Shari’ah supervisory boards and acts as Chairman of the Shari’ah Advisory Council of the Silver Bird Group Bhd. He has published several research works ranging from Islamic thoughts to education. He received his Bachelor and Master degrees and his PhD from Al-Azhar University, Cairo. He also holds a Diploma in Education from Ain Shams University, Cairo.
 
SHEIKH DR ABDUL SATTAR ABDUL KAREEM ABU GHUDDAH
Dr Abdul Sattar is a Syrian, currently teaching at several institutions of higher learning including, Imam Al Da’awa Institute in Riyadh and Kuwait University amongst others. He holds the positions of Shari’ah Advisor and Director of the Department of Financial Instruments at Al-Baraka Investment Co. of Saudi Arabia. He is also an active member of the Islamic Fiqh Academy of Organisation of Islamic Conference (OIC) and Accounting and Auditing Organisation for Islamic Financial Institutions. He has performed the valuable task of researching information for the Fiqh Encyclopedia compiled by Ministry of Awqaf and Islamic Affairs in Kuwait, where he was a member of the Fatwa Board from 1982 to 1990. He holds several degrees in Islamic law from different universities including Damascus University and Al-Azhar University in Cairo where he obtained his PhD in Islamic Law.
 
SHEIKH PROF. DR DATO' MAHMOOD ZUHDI
Dr Mahmood is a Malaysian, currently a professor of Shari’ah at the International Islamic University Malaysia. He was the former Dean of the Faculty of Shari’ah and also the former Director of the Academy of Islamic Studies, University of Malaya. He is the Chairman of the Shari’ah Committee of Public Bank Bhd. and acting as the Shari’ah Advisor to the As-Salihin Trustee Bhd. A very well-known speaker he is frequently invited to give his views on matters affecting the Ummah. He has published more than 20 books. He received his Bachelor in Shari’ah from the Kelantan Higher Islamic Education Foundation, Malaysia, Master in Shari’ah, University of Al-Azhar, Cairo and PhD from the University of Malaya.
 
SHEIKH NIZAM YAQUBI
Nizam Yaquby hails from Bahrain and is a very successful businessman. He also sits on several Shari’ah Supervisory Board that includes the Accounting and Auditing Organisation for Islamic Financial Institutions, the International Islamic Financial Market and the Dow Jones Islamic Market Indexes. In Malaysia he is also a member of the CIMB Islamic Shari’ah Committee. He has authored several articles and publications on Islamic finance both in English and Arabic. He has a Bachelor of Arts (Economics and Comparative Religions) degree and a Master of Science degree in Finance from McGill University, Canada. He also received guidance in classical Shari’ah from prominent scholars such as Sheikh Abdulla al-Farisi, Sheikh Yusuf al-Siddiqi, Sheikh Muhammed Saleh al-Abasi and Sheikh Muhammed Yasin al-Fadani.
 
SHEIKH PROF DR. ALI M. AL-QURADADGHI
Dr Ali is a Qatari, currently a professor of Shari’ah at the University of Qatar. He serves on several Shari’ah boards, foremost amongst which are the Emirates Islamic Bank, UAE, Dubai Islamic Bank, Investment House and Investor Bank, Bahrain and First Investment of Kuwait. He is also involved in the establishment of several charitable organisations and international Islamic jurisprudence bodies. Thus far, he has published nine books and another six new books in various publication stages on topics pertaining to Islamic jurisprudence and thought. He received his PhD from Al-Azhar University, Cairo.
 
SHEIKH DR. AZNAN HASSAN
Dr Aznan is a Malaysian, currently an Assistant Professor at the International Islamic University Malaysia, where he specialises in Islamic Commercial Law, Islamic Banking and Law of Zakat. He is a member of Central Shari’ah Advisory Council of the Central Bank Malaysia. He also serves as Shari’ah advisor to various financial institutions and corporate entities. He is also registered with the Securities Commission Malaysia to act as Shari’ah advisor for Islamic unit trust scheme and Islamic securities. He received both his Bachelor and Master in Shari’ah from Al-Azhar University, Cairo and PhD in Shari’ah from the University of Wales, United Kingdom.
 
SHEIKH DR. YUSUF TALAL DELORENZO
Yusof is an American, currently Special Consultant appointed by the Asian Development Bank and Islamic Development Bank, Jeddah. He is considered a leading Islamic scholar in his country where he was at one time the Secretary of the Fiqh Council of North America. In the field of Islamic finance, he serves as Shari’ah advisor to many global financial entities, including index providers, mutual funds, real estate funds, leasing funds, institutional investors, home finance providers and alternative asset managers. Apart from being the first to compile the English translation of legal rulings by Shari’ah supervisory boards on the operations of Islamic banks, he has translated more than twenty books from Arabic, Persian and Urdu for publication in English. He has a degree from Cornel University, USA and is at presence completing his doctoral dissertation on the Legal Rulings of the Quran at Bahawalpur University, Pakistan.
 
Latest Issue
Wednesday 1st September 2010
Volume 7 Issue 35
   
Cover Letter
IFN Rapid
News Briefs
Takaful News
Ratings News
Moves
IFN Reports
  Keen to implement Islamic finance
Steps have finally been taken to end a parliamentary stalemate with regards to Islamic finance in the country. Plans to approve a bill on tax neutrality for the issuance of Sukuk, initially shelved in...
 
  Uphill struggle for UK Islamic banking
The Islamic Bank of Britain (IBB) has recently received a much desired capital injection of GBP20 million (US$30.9 million) from its founding shareholder Qatar International Islamic Bank...
 
  Tapping petro dollars for Ningxia
Ningxia Hui, a Muslim dominated autonomous region in the country will be holding the first China — Arab trade forum on the 26th September this year. This four day meeting scheduled...
 
  Debt increases
On the 25th August 2010, Dubai World revealed that its total debts exceed US$39.9 billion, a figure much higher and close to double the amount estimated only a month earlier. Prior to...
Meet the Head

Daud Vicary Abdullah
Global Leader for Global Islamic Finance Group
Deloitte
Articles
  IT Focus — from Conventional to Islamic
One of the greatest challenges in launching an Islamic bank is having access to a well-established independent and active Shariah board. While this process can...
  Take Risks or Remain Stagnant
It is almost a mantra that risk sharing lies at the essence of Islamic finance. Dr Abbas Mirakhor, former executive director of...
  The UK Islamic Banking Scene
In my opinion the reason why retail Islamic finance has not taken off in the UK in the manner originally hoped is that the addressable market is very small. There are only...
  Islamic Finance in the UK
Recently there have been a few articles in the UK press making broad sweeping statements that “Islamic finance in the UK is a huge flop” and “a failure”...
  Securities and Securitization
As far as Islamic securitization is concerned, Pakistan is the lead player. The local regulators have traditionally encouraged exploring and introducing complex asset backed...
  Time for Paradigm Shift: Role of Islamic Finance With Social Responsibility
Most of the Muslim World (MW) economies are undoubtedly consumer and not producer societies. Therefore, we are vulnerable to world market fluctuations in food supply items...
  East Asia Bucks the Trend: Dow Jones Islamic Market Indexes in August 2010
“Double-Dip concerns everywhere,” is the title of Credit Suisse’s research daily on the 25th August. News spreading during the summer has been less than...
Termsheet

Islamic Development Bank’s Trust Certificate Issuance Program
Forum
Will the recent pioneer UK Sukuk issuance triggers more Sukuk issuances and other Islamic finance products in the UK and Europe?

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