Khalid Madani

Sharia banking issues probed

The Waqf Fund recently held a roundtable discussion themed, "Shariah and corporate governance issues in SPV governance," in Bahrain. The meeting was attended by a select group including lawyers, professional firms and Shariah scholars. Central Bank of Bahrain's Hana Al Murran made a presentation highlighting the regulatory and legal issues with special purpose vehicles (SPVs). Among others, the key issues highlighted were: mechanism to safeguard investors' interest, Shariah governance and compliance, mechanism and type of fee charged to investors, reporting frequency and transparency, and due diligence.

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