Thursday, 9th July 2020 – In its continuous tireless efforts and dedication to improve and contribute to the development of the Islamic financial industry, under the guidance of its Board of Directors and Chairman, Mr. Khalid Hamad and under the leadership of its Chief Executive Officer, Mr. Ijlal Ahmed Alvi as well as the continued support from IIFM members.
The International Islamic Financial Market ( IIFM) held its first Virtual (Zoom) meeting of its honorable Shari’ah Executive Committee due to the difficult conditions facing the world from the COVID-19 (Coronavirus) disease, to discuss the fourth draft of the Mudarabah Template Agreement Document Standard (for Perpetual Mudarabah Sukuk Teir1) which will contribute to the Sukuk issuance process globally.
In light of this IIFM effort, last week IIFM released its six Master agreement documents translated into French, a service for French jurisdictions, and the expansion of the Islamic financial industry worldwide.
The Shari’ah Executive Committee meeting was attended by:
- Sheikh Dr. Nizam Yaquby
- Sheikh Esam Mohammed Ishaq
- Sheikh Dr. Mohammed Burhan Arbouna
- Sheikh Prof. Dr. Mohamad Akram Laldin
- Sheikh Dr. Imran Usmani
From IIFM:
- Mr. Ijlal Ahmed Alvi, Chief Executive Officer
- Dr. Ahmed Rufai, Head of Compliance
- Mr. Ismail Dadabhoy, Advisor
- Mr. Zarrar Sayyed, Officer – Documentation Control
- Mr. Tareq Fouad, Officer – IT & Website Support
From Clifford Chance LLP
- Mr. Ahmed Choudhry, Counsel