Bank Negara issues new syariah standards

KUALA LUMPUR: Bank Negara Malaysia yesterday announced syariah standards to assist financial institutions, under its purview, develop Islamic financial products and services based on mudarabah.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup22c-2/Article/
Published: October 23, 2012

The syariah standards on Mudarabah is the second in the series of syariah standards (formerly known as syariah parameters), with the first on Murabahah.

Describing it as a major milestone, Bank Negara said it is part of efforts to enhance the syariah and regulatory framework in Malaysia.

The syariah standards on Mudarabah aims to provide a standard on the features of mudarabah contracts applicable in Islamic financial transactions.


It also outlines the mandatory and the optional features applicable to the mudarabah contract in which the Islamic financial institution would be required to observe such requirements in developing Islamic financial products and services.