Under the guide of “standardization” of practices, the Taqi Usmani-controlled Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is continuing its campaign to gain control of the Shariah Finance industry.

We’ve covered this emerging development for several months here on SFW and it’s worth a review:

http://www.shariahfinancewatch.org/category/aaoifi/

The latest development in this regard is this interview with Dr Mohammad Nedal Al Chaar, Secretary-General of the AAOIFI. Should AAOIFI gain control of the Shariah Finance industry, this means that Taqi Usmani will be firmly entrenched as the leading Shariah scholar in the field and in a position to set policy for scores of financial institutions with which he is currently unaffiliated.

It will also mean that the militant Jihadists have taken over completely…

http://gulfnews.com/business/banking/standardisation-of-practices-critical-to-growth-of-islamic-finance-1.655985

 

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