UAE needs unified sharia board to boost market, says central bank
According to a top central bank official, the United Arab Emirates needs a centralized body for the Islamic finance industry to assist in developing its sukuk market further.
Saif al Shamsi, assistant governor for monetary policy and financial stability, noted that the law calls for a central sharia committee at the federal level that would work with sharia boards at the corporate level but that has not been enabled yet federally.
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