Abstract
Sharia compliance is considered the basic component of Islamic financial industry as sharia permissibility is one of the basic motive for majority of the customers of Islamic Financial services. Presently the assurance regarding the sharia compliance of Islamic financial institution is given by the Sharia Advisor or Sharia board of respective Islamic financial institution. But there is no process, similar to the credit rating agencies, which provides the public an independent assessment of the commitment of different Islamic financial institution as regard to follow sharia injunctions in true letter and spirit for comparison with other Islamic financial institution.
 In this paper, the concept of credit rating, its origin, importance and advantages are discussed. In the light of the credit rating agencies practices, the concept of sharia rating and its importance are elaborated. It is observed and recommended that sharia quality rating will be very beneficial for all the stakeholders of the Islamic financial institutions as well the Islamic financial industry hence regulatory bodies of Islamic financial institutions, IFI’s and Credit Rating Agencies shall work together to further refine the concept for implementation of Sharia rating in the industry.
Highlights
متعارف کرنےکیتجاوئر دی گئیں۔ جناکامقصد یہ ہےکہ جس طرحکسی ادارے کےمالیتی استحکام اورعدم استحکام کے حوالےسے درجہا
Shari'ah rating is a process the purpose of which is to provide the public with an independent appraisal that assesses the commitment of the management of a financial institution to follow Shari'ah injunctions in their business and to avail Muslims with an unbiased opinion on the Shari'ah quality of the Islamic banking and
اگر کسی ادارےکی شریعہ ریٹنگمیبہتری ہوتو مارکیٹمی اس کی ریپوٹیشنمثبتہوگی۔جس کامنطقینتیجہ اس ادارےکے کھاتوں اور خڈماتلینےوالےگاہکوںپرمثبتائرکاہوگا۔ 43ا
Summary
متعارف کرنےکیتجاوئر دی گئیں۔ جناکامقصد یہ ہےکہ جس طرحکسی ادارے کےمالیتی استحکام اورعدم استحکام کے حوالےسے درجہا. * Assistant Professor/In.Charge Department of Islamic & Arabic Studies, University of Swat. ** Lecturer, Department of Islamic & Arabic Studies, University of Swat. کاروں کو مختلف مالیتی اداروں کے حوالے سے ان کے مالی استحکام اور عدم استحکام کے یارےامی رائے دینا تھا ۔جوعصر حاضر میا Moody’s investor Serviceکےیامسےپوریدنیامیمشہورومعروفہے ا۔ 4ا
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More From: Al-Aijaz Research Journal of Islamic Studies & Humanities
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