Shariah Advisory Council was established in 1997. This refers to which phase of IB in Malaysia

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Monopolistic Years
B	Developing years
C	Take Off Years
D	Financial Liberalization Years

Explanation:

Detailed explanation-1: -The Shariah Advisory Council of Bank Negara Malaysia (SAC) was established in May 1997 as the highest Shariah authority in Islamic finance in Malaysia.

Detailed explanation-2: -The Shariah Advisory Council (SAC) of Securities Commission Malaysia (SC) was established on 16 May 1996.

Detailed explanation-3: -Currently, the SAC has nine members comprising Shariah scholars and practitioners with vast experience, domestically and abroad in the areas of Shariah, law, Islamic economics, and finance.

Detailed explanation-4: -The Shariah Advisory Council is made up of experts from various fields with the goal of ensuring companies applying meet the criteria for Shariah Compliance Approval. The council is most active in China and in Hong Kong with the cited goal of increasing Islamic banking and financial interests.

There is 1 question to complete.