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Kuala Lumpur, 18 November 2009 – International Shari’ah Research Academy for Islamic Finance (ISRA), signed a Memorandum of Understanding (MoU) with Kuwait Finance House (Malaysia) Berhad (KFH-Malaysia) during the opening ceremony of International Shari’ah Scholars Forum 2009 (ISSF’09). The milestone collaboration was made in an effort to undertake the translation project for the Shariah resolutions from the Fatwa and Shariah Supervisory Board meetings of Kuwait Finance House held from its inception in 1977 up to 2009.
A pool of experienced experts from ISRA will combine their knowledge to translate the three decade Shariah Resolutions from Arabic into English as an initial step. The outcome will then be reviewed and endorsed by a Committee consisting of Shariah scholars, as well as business practitioners before being released for distribution to customers, regulators, academicians and other relevant institutions. Compiled according to topics, the original version of the Shariah resolutions in Arabic has already been distributed in Kuwait and the Middle East.
“Established by Bank Negara Malaysia, ISRA is dedicated to promoting applied research in the area of Shariah and Islamic finance. This joint project with KFH-Malaysia provides us with the perfect tool to effectively share developments in Islamic finance over the years and enhance understanding of the Shariah among the Ummah,” said Associate Professor Dr Mohamad Akram Laldin, Executive Director, ISRA. “This massive translation project creates a need for more specialists and inspires us to increase our effort to identify and source for even more talents in Islamic finance.”
“As the leader in Islamic finance and the first foreign Islamic bank in the country, KFH-Malaysia is committed to create ongoing awareness of Shariah-based banking practices. At present, there is a limited source of reference in English available on Islamic financial cases, arising issues and rulings. In fact, this is the first time Shariah resolutions issued by a foreign Islamic bank such as this, is being translated in Malaysia. We are honoured to take this initiative with ISRA, to reproduce the Shariah resolutions and disseminate the specific Shariah knowledge related to banking and finance to the public,” said Sheikh Prof. Dr. Mohammad Abdul Razzaq Al-Tabtabae, Chairman of the Shariah Committee, KFH-Malaysia.
The project is fully funded by KFH-Malaysia and expected to be completed within a year. There may be opportunities in future, to translate the Shariah Resolutions in other languages.
The ISSF’09 opening ceremony was officiated by Y.B. Senator Dato’ Dr. Mashitah Ibrahim, Deputy Minister at the Prime Minister's Department. The MoU was signed by Associate Professor Dr Mohamad Akram Laldin on behalf of ISRA and Sheikh Prof. Dr. Mohammad Abdul Razzaq on behalf of KFH-Malaysia, and witnessed by Y.B. Senator Dato’ Dr. Mashitah Ibrahim and Prof Dr. Abdul Salam Al-Abadi, Secretary General, International Islamic Fiqh Academy.
A pool of experienced experts from ISRA will combine their knowledge to translate the three decade Shariah Resolutions from Arabic into English as an initial step. The outcome will then be reviewed and endorsed by a Committee consisting of Shariah scholars, as well as business practitioners before being released for distribution to customers, regulators, academicians and other relevant institutions. Compiled according to topics, the original version of the Shariah resolutions in Arabic has already been distributed in Kuwait and the Middle East.
“Established by Bank Negara Malaysia, ISRA is dedicated to promoting applied research in the area of Shariah and Islamic finance. This joint project with KFH-Malaysia provides us with the perfect tool to effectively share developments in Islamic finance over the years and enhance understanding of the Shariah among the Ummah,” said Associate Professor Dr Mohamad Akram Laldin, Executive Director, ISRA. “This massive translation project creates a need for more specialists and inspires us to increase our effort to identify and source for even more talents in Islamic finance.”
“As the leader in Islamic finance and the first foreign Islamic bank in the country, KFH-Malaysia is committed to create ongoing awareness of Shariah-based banking practices. At present, there is a limited source of reference in English available on Islamic financial cases, arising issues and rulings. In fact, this is the first time Shariah resolutions issued by a foreign Islamic bank such as this, is being translated in Malaysia. We are honoured to take this initiative with ISRA, to reproduce the Shariah resolutions and disseminate the specific Shariah knowledge related to banking and finance to the public,” said Sheikh Prof. Dr. Mohammad Abdul Razzaq Al-Tabtabae, Chairman of the Shariah Committee, KFH-Malaysia.
The project is fully funded by KFH-Malaysia and expected to be completed within a year. There may be opportunities in future, to translate the Shariah Resolutions in other languages.
The ISSF’09 opening ceremony was officiated by Y.B. Senator Dato’ Dr. Mashitah Ibrahim, Deputy Minister at the Prime Minister's Department. The MoU was signed by Associate Professor Dr Mohamad Akram Laldin on behalf of ISRA and Sheikh Prof. Dr. Mohammad Abdul Razzaq on behalf of KFH-Malaysia, and witnessed by Y.B. Senator Dato’ Dr. Mashitah Ibrahim and Prof Dr. Abdul Salam Al-Abadi, Secretary General, International Islamic Fiqh Academy.
