Shariah Finance Industry Considering Global Shariah Authority
The Shariah scholars are a central concern in Shariah Finance because several of the most prominent are Jihadists with ties to extremist groups. Placing more power in such hands doesn’t help matters.
There appear to be two competing entities in this movement: Mufti Taqi Usmani’s AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) and the International Sharia Research Academy for Islamic Finance (ISRA).
http://www.tradearabia.com/news/newsdetails.asp?Sn=BANK&artid=184953
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