Regulatory Alerts2009-03-24
Islamic Research Academy Fatwa on Real Estate Financing Activity
The Islamic Research Academy, chaired by Grand Imam Muhammad Sayyid Tantawi, formally declared the amended Real Estate Financing Law and its draft executive regulations compliant with Islamic Sharia. The Council granted this religious endorsement during an extraordinary session on March 10, 2001, after reviewing the legislative amendments. The Academy subsequently ratified the executive regulations for Law No. 148 of 2001 on September 27, 2001, confirming their full alignment with Sharia provisions.
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