NEWS: Sharia Scholars Paid $100,000 per Fatwa

800px-dsc00030-isl-bank1While thousands of experts are losing their jobs in the world financial sector, the $ 1 trillion Islamic banking sector is desperately looking for sharia scholars who can give expert advice on many financial issues facing the sector. Whereas there is an increasing demand for adjusting all financial contracts such as mortgages and bonds to sharia, there is little supply of scholars familiar enough with both religious law and secular finance. Moreover, many qualified candidates are Middle Easterners who can only communicate in Arabic, which limits their global movement in the largely English-speaking financial sector. At the moment, there are less than 100 scholars in the world qualified to sit on sharia boards, where they are paid up to $ 100, 000 per fatwa on a contract. Read full story here.

Related articles:

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Islam and the Science of Economics
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From The Blackwell Companion to Contemporary Islamic Thought

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