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Abdel-Maoula Chaar

Rethinking the strategic reach of Sharia boards. Abdel-Maoula Chaar. Abdel-Maoula Chaar. AM Chaar – Oman 1 st Islamic Finance & Banking Conference - Oman – January 2012. Overview of the presentation. Sharia Supervisory boards as guardian of Sharia compliancy

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Abdel-Maoula Chaar

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  1. Rethinking the strategic reach of Sharia boards Abdel-Maoula Chaar Abdel-Maoula Chaar AM Chaar – Oman 1st Islamic Finance & Banking Conference - Oman – January 2012

  2. Overview of the presentation • Sharia Supervisoryboards as guardian of Sharia compliancy • Reputation and Sharia boardsefficiency • The strategicreach of Sharia boards

  3. Case Study: Lebanese Banks

  4. Sharia Boards primary task • Ensuring the Sharia compliency of the operations • Suggesting Sharia compliant solutions to the bank • Reducing the liability of newness by giving legitimacy to the banks

  5. Assessing the scolars’ proficiency • Measuring the technicalefficiency of the financialoperations • Evaluating the soundness of the fatawas • Using the reputation as proxy

  6. Evaluating reputation • Incapacity to assess the proficiency of scholars • Perceivedreputationlinked to pointers

  7. Evaluating reputation recruits recruits Bank1 Scholar Bank2 REPUTATION + + + JOIN JOIN + ATTRACKS Clients + + +

  8. Islamic banking in Lebanon • Population: 4 million • Religious factions: 17 • Number of muslims: 60% app. • Main Muslimsects: Sunni / Shi’a

  9. Islamic banking in Lebanon Legitimacy in local Sunni market Sunni Scholar Legitimacy in international and interbank markets International Scholar SSB Islamic Bank Shi’a Scholar Legitimacy in local Shi’a market

  10. THANK YOU FOR YOUR ATTENTION

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