IslamicFinance.de

Mohamad Nedal Alchaar, the head of the Accounting and Auditing Organisation for Islamic Financial Institutions, was appointed Syria’s Minister of Economy and Trade. This leads to his leaving the post at the regulator.
Syria, where Syrian President Bashar al-Assad’s Baath party has been in power since 1963, is the latest Middle Eastern country to be hit by a wave of uprisings that ousted longtime rulers in Egypt and Tunisia and sparked armed conflict in Libya.

Engku Rabiah Adawiah Engku Ali says she became the first female Islamic finance scholar after failing to progress in her preferred field of juvenile law.
Malaysia’s Shariah Advisory Council has two female scholars on its 11-member board and Indonesia has six women on its panel of 35 experts.
There aren’t any female scholars in Islamic finance in the Middle East as women haven’t found opportunities in the male-dominated field, said Mohamad Nedal Alchaar, secretary general of the Accounting and Auditing Organization for Islamic Financial Institutions, in Manama, Bahrain.

The leading global Islamic Finance accounting regulator is introducing conditions for contracts that comply with religious laws, seeking to standardize an industry with $1 trillion in assets under management.
The Bahrain-based Accounting & Auditing Organization for Islamic Financial Institutions will for the first time provide a “Shariah-compliant way” for parties to enter and exit contracts, Mohamad Nedal Alchaar, secretary-general of the agency, in Manama.
While civil law already offers legal cover in disputes, counterparties want protection based on Shariah principles, according to Dawood Islamic Bank Ltd. in Karachi, Pakistan. Establishing a global standard would bolster confidence for sukuk investors, said Madzlan Mohamad Hussain, a partner at Zaid Ibrahim & Co., Malaysia’s biggest law firm.

The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will seek a mandate from its trustees to examine the degree of sharia financial products' compliance with its 40 standards, its secretary-general, Mohamad Nedal Alchaar, said according to Liau Y-Sing from Reuters.

Lack of common standards makes it difficult to sell products across borders, while possibly enhancing innovation.