KUALA LUMPUR, Oct 22 (Bernama) -- Bank Negara Malaysia on Monday issued
Shariah Standards on Mudarabah for Islamic financial institutions under
its purview.
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=703909
Published: October 23, 2012
The central bank said the standards marked an important milestone and
was part of its continuous efforts to enhance the Shariah and regulatory
framework in Malaysia.
The standards would serve as guidelines for Islamic financial
institutions in developing Islamic financial products and services based
on Mudarabah, it said in a statement.
Bank Negara said the Standards aimed to provide a standard on the
features of mudarabah contracts applicable in Islamic financial
transactions.
It said the standards also outlined the mandatory and optional features
applicable to the mudarabah contract under which Islamic financial
institutions would be required to observe such requirements in
developing Islamic financial products and services.
The standards are the second in the series of Shariah Standards (formerly known as Shariah Parameters).
-- BERNAMA
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