Because Islamic banks operate under Shari‘ah supervision, day-to-day commercial problems are repeatedly examined. When one structure is rejected, management and scholars try to develop an acceptable alternative.
Over time, Shari‘ah board resolutions created a substantial body of modern applied commercial fiqh.
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Islamic Banks: What They Have Achieved
Because Islamic banks operate under Shari‘ah supervision, day-to-day commercial problems are repeatedly examined. When one structure is rejected, management and scholars try to develop an acceptable alternative.
Over time, Shari‘ah board resolutions created a substantial body of modern applied commercial fiqh.