THE PRACTICE OF “FATWA SHOPPING” IN ISLAMIC BANKING OPERATIONS AND LEGAL MECHANISMS FOR ITS PREVENTION
DOI:
https://doi.org/10.47390/SPR1342V5SI9Y2025N73Keywords:
fatwa shopping, Islamic banking, Shariah Advisory Council, International Islamic Fiqh Academy, AAOIFI, IFSB.Abstract
This article analyzes the essence of the “fatwa shopping” practice observed in Islamic banking activities, its economic and legal implications, and mechanisms for its prevention. The study comparatively examines the recommendations of international organizations and the experiences of Malaysia, Pakistan, Bahrain, Indonesia, the United Kingdom, and CIS countries. In addition, the views of prominent Islamic jurists – Abdus Sattar Abu Ghuddah, Muhammad Taqi Usmani, Nizam Yaquby, and Ali al-Qaradaghi – are reviewed. Based on the analysis, it is recommended to implement legal instruments such as a centralized Shariah council, Shariah audit, and fit-and-proper criteria to prevent this issue.
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