In the event of any conflict between the decision of the Sharī'ah board of an Islamic financial institution and the Sharī'ah Supervisory Council of the Central Bank, the resolution of the latter prevails.

Question

Quizplus · Accepted Answer

The Sharī'ah Supervisory Council of the Central Bank typically has overarching authority to ensure that all Islamic financial institutions within a jurisdiction comply with universal Sharī'ah principles, thus their resolutions would prevail over individual institution's Sharī'ah board decisions in case of conflict.

In the Event of Any Conflict Between the Decision of the Sharī'ah