Shariah resolution (board decision)
A recorded decision of a Shariah board or committee on a product, transaction or issue, with its reasoning and any dissent.
A Shariah resolution is a recorded decision of an institution's Shariah board or committee on a product, transaction, document or issue. Bank Negara Malaysia's Shariah governance policy document requires records of the committee's decisions submitted to the Bank to be supported by key deliberations, the rationale and any significant concerns or dissenting views, and requires decisions to be made by simple majority. AAOIFI's fatwa standard requires an institution to follow a board decision that prohibits or requires an act. Recording the question, the facts relied on, the decision and its scope is what lets the decision be applied and audited later.
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This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.