Process for Standardization of Shariah Practices

The shariah board of sbp advises on the procedures

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The Shariah Board of SBP advises on the procedures, laws and regulations pertaining to Islamic Banking in line with Shariah principles. All the instructions / guidelines pertaining to the Islamic banking Industry are issued with the approval of SBP Shariah Board. Conflict Resolution in Shariah Rulings is also managed through the Shariah Board of SBP as in case of any difference of opinion the decision of SBP Shariah Board is considered final. The Shariah Board members are well versed with local & international practices both in the field of banking as well as Shariah and are thus instrumental in ensuring that the advice given to SBP is in line with international practices.
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