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Sharia compliance in financial products

Durham | Thu, July 13, 2017 | 01:34 pm
Sharia compliance in financial products Personal touch: A teller serves a customer at the sharia lender Bank Syariah Bukopin's head office in Central Jakarta on Feb. 7, 2017. (JP/Dera Menra Sijabat)

PREMIUM Islamic financial institutions (IFIs) differ from conventional financial institutions. The primary distinction of Islamic financial instructions is the application of Islamic or sharia principles in its business activities. Thus, the adherence toward the sharia principles is essential for the IFIs. The establishment of a body to ensure sharia-compliance implementation in the IFIs is crucial. He...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.

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