I think that it is open for everyone to want to become a Shariah scholar provided that the person is fully aware that Shariah is just not limited to Islamic finance but extends to Islamic jurisprudence and fiqh. As such, I do not think that just anyone can qualify to sit for the exams in the first place.
MOHAMED RIDZA
The issue is not to set a global standard, but rather provide appropriate training and qualifications for Shariah scholars. AAOIFI already provides a Certified Shariah Advisor and Auditor (CSAA) course and qualification which is widely recognized. Many young and aspiring Shariah scholars now have this qualification. Scholars wanting accreditation in Malaysia have to formally apply to Bank Negara, and unless they are accepted, they cannot be appointed to Shariah Boards. The CSAA course is not restricted to Shariah scholars, although knowledge of fiqh is helpful. There is a case for taking AAOIFI’s welcome initiative further forward, perhaps by providing credits to existing scholars that recognize their work experience, which would give them exemption from formal tests. Ultimately, it is desirable to have all Shariah scholars professionally trained, but achieving this should be seen as a process which cannot be implemented overnight. PROFESSOR RODNEY WILSON Faculty of Islamic Studies, Qatar Foundation
This is complete nonsense. It takes many years of study to become a Shariah scholar just as it takes many years to become a qualified lawyer or accountant. We really need to focus on serious issues which will build our industry than to get bogged down with every esoteric suggestion from uninformed people.
AFAQ KHAN CEO, Islamic Banking, Standard Chartered Saadiq
Having global standards for Shariah rulings is an ideal state that cannot be achieved. Shariah rulings are deduced interpretations based on circumstances for most unusual situations, while plain vanilla type structures are done without any new rulings. It is not uncommon to have differing views occasionally from various members of the same Shariah Board. Also, the patterns followed by the Far East scholar community differs from those based in Middle East. A global level institution may be a good idea but unlikely to find favor with major players. We are struggling to even get Islamic banking financial standards off the ground, let alone Shariah standards. FEROZ NOORANI Chief risk officer/executive vice-president, group head of risk management, Al Hilal Bank
This idea, if implemented successfully around the globe, will definitely accelerate the development of the global Islamic finance industry as Shariah advisory can be acquired from a wider pool of trained professionals. However, implementing global standards may prove to be an ambition too difficult to achieve for the short to medium term. Time is the issue. If anything, we believe it will be a long journey for all global Islamic finance authorities to converge on the Shariah standards. To fully appreciate and understand the Islamic ideology, the candidates will probably be required to sit through a diploma or a long series of courses specifically designed for the purpose. There is another limitation as well. We may not see the day where a non-Muslim professional will be allowed to become an Islamic scholar by simply sitting exams. Not all Muslims are Shariah advisers. BUT all Shariah advisers MUST be a Muslim. ZULKIFLI ISHAK CEO, Prudential Al-Wara’ Asset Management
Allowing access to these examinations will increase the number of scholars available which, given that availability of scholars is generally considered a bottleneck, would be advantageous to the industry. In addition, it will set a minimum standard of excellence for scholars which will increase transparency. Not all bankers, lawyers and consultants will take the exam to become a scholar. For many the aim will be to increase their understanding to become a better partner for the Shariah Board, enhancing effective and efficient communications with the Shariah Board. It must also be noted that in order for a person to be able to call himself or herself a scholar after taking the exam will depend on other factors as well, such as in-depth knowledge of Fiqh Al-Muamalat. The qualifications for becoming a scholar would have to include other factors such as a prerequisite number of years of experience. DR NATALIE SCHOON Head of product research, Bank of London and the Middle East
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