https://bernews.com/2011/04/guidance-notes-islamic-investment-funds/ Bermuda's #1 source for 24/7 breaking news, photos & videos Mon, 06 Apr 2026 11:51:17 +0000 hourly 1 http://wordpress.org/?v=3.7.5 https://bernews.com/2011/04/guidance-notes-islamic-investment-funds/#comment-41142 Fri, 29 Apr 2011 13:10:47 +0000 http://bernews.com/?p=60855#comment-41142 Has the BMA done a comparison of Bermuda law in general against Sharia law? If so has it been published?
The notes say that the BMA has no jurisdiction over the SSB and recognizes only the directors and officers of the fund as under Bermuda law. However, this body the SSB is in effect a major controlling influence over the board of directors decision.
In turn is the BMA saying that these SSB board members do not have to be fit and proper persons under Bermuda law, statute or policy?
I believe the BMA ought to be be more transparent regarding its deliberations on the acceptance of entities that submit themselves to Shariah law and the decisions of the SSB.

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