Rules for Sharia-compliant transactions announced

Rules that govern Sharia-compliant Waad (promise), Khiyar (option) and Tahawwut (hedging) transactions for Islamic financial institutions have been put in place by a Bahrain-based standard-setting body. The Accounting Board of the Accounting and Auditing Organisation for Islamic Financial Institutions  announced the official issuance of financial accounting standard  38 Waad, Khiyar…