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Mohamad Akram Laldin and Hafas Furqani

This chapter elaborates the roles and responsibilities of Shari’ah scholars in developing Islamic finance. It examines the expected qualities of Shari’ah scholars in supervising and guiding Islamic financial institutions. It shows difference practices of Islamic finance Shari’ah supervision and Shari’ah governance across jurisdictions. It outlines the challenges in the best practices of Shari’ah supervision and Shari’ah governance in Islamic financial institutions.