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Online Islamic finance newsletter launches 'Ask the Scholar'
Source: BI-ME , Author: BI-ME staff
Posted: Tue May 19, 2009 2:21 pm
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INTERNATIONAL. Islamic Finance news, a leading provider of news on the global Islamic capital markets has added another value-added service for its 20,000 subscribers – an Ask the Scholar column – which will give them access to some of the leading Islamic financial scholars in the world.

The weekly online newsletter, a must-read for Islamic banks, law firms, insurance companies and
regulators throughout the world, is teaming with the prestigious International Shariah Research Academy
for Islamic Finance (ISRA) which boasts luminaries such as Dr Mohd Daud Bakar, Dr Mohamed Ali Elgari,
Dr Abdul Shukor, Dr Abdul Sattar Abdul Kareem Abu Ghuddah and Dr Yusuf Talal Delorenzo, who are
part of ISRA’s Council of Scholars.

Readers can submit their questions online at www.IslamicFinanceNews.com. These will then be tabled in
front of the respective scholars for their valued responses.

Publisher Andrew Morgan pointed out: “We are always trying to provide our readers with real value and in
the five years we have been around, one issue keeps cropping up, the lack of qualified Shariah scholars
who understand the complexities of global structured financial products and enough religious respect to
issue fatwas.”

He pointed out that the few scholars who fit the bill are so in demand that it is difficult for companies to get
access to them.

“We knew the column would be popular but the initial response has been so overwhelming that it
exceeded even our most optimistic expectations. People are hungry for specific information. That is what
we will be giving them access to,” he pointed out.

A sample of the questions received so far:

1. Can a member of a company’s Shariah board also be one of its directors and a member of its audit committee?
2. What is the Shariah-compliant way to handle a current account overdraft?
3. What is the minimum percentage of tangible assets required in a hybrid Sukuk?
4. Do you think it was right to prohibit Tawarruq? How can the Islamic finance market develop
without it?

Ask the Scholar will make its debut in the online magazine which goes live every Friday, in June.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.
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UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.