In a meeting attended by IDB executive managers held to discuss increasing the unity of Sharia committees of the affiliated institutes of IDB, Ayatollah Mohammad Ali Taskhiri was approved as the new member of the Sharia board of IDB.
Rather than Ayatollah Mohammad Ali Taskhiri from Islamic Republic of Iran, other members of the Sharia board include Shaikh Al Siddiq Mohamed Al Darir from Sudan, Shaikh Dr. Abdel Sattar Abdel Karim Abu-Ghuddah from Saudi Arabia and also Shaikh Yusuf Talal De Lorenzo from USA.
Members in the Shari’a Board of IDB are appointed by the Board of Trustees for a four-year term from among fiqh scholars who represent Shari’a supervisory boards in the Islamic financial institutions that are members of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), and Shari’a supervisory boards in central banks.
Headquartered in Jeddah, Saudi Arabia, the purpose of the The Islamic Development Bank is to foster the economic development and social progress of Muslim communities individually as well as jointly in accordance with the principles of Shari'ah (Islamic Law).
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