Prominent Saudi scholar warns on agenda against Shariah advisories

Malaysia adopted on Jan. 1 a new Shariah Governance Framework (SGF) for Islamic financial institutions (IFIs) that supersedes the Guidelines on the Governance of Shariah Committees of IFIs introduced by Bank Negara Malaysia (BNM).
One prominent international Shariah advisory to the Islamic finance industry, Muhammed Elgari of Saudi Arabia, agrees that Malaysia’s Shariah Governance Framework for IFIs could become a blueprint for other countries to follow.