of the prophets, and upon his family and Companions.

The Council of the International Islamic Fiqh Academy, convened at its eighth session in Bandar Seri Begawan, Brunei Darussalam, from 1 to 7 Muḥarram 1414 AH (12–27 June 1993),

– after examining the studies submitted to the Academy on the topic of “Problems of Islamic Banks,”
– after listening to the discussions held on the matter, and
– after reviewing the papers that addressed the problems facing Islamic banks and proposed ways to resolve them—whether legal, technical, administrative, or related to the banks’ dealings with other parties—and after deliberating on those problems,

decided as follows:

To present the following list, arranged under four themes, to the Academy’s General Secretariat so that specialists may be commissioned to prepare detailed studies and the subjects may be tabled at forthcoming sessions of the Academy, in the order of priority set by the Planning Committee.

First Theme: Deposits and related issues
(a) Ways of guaranteeing investment deposits that are compatible with the rules of sharīʿa-compliant muḍārabah (profit-sharing).
(b) Exchange of deposits between banks on a non-interest basis.
(c) The sharīʿa characterization of deposits and their accounting treatment.
(d) Granting a loan to a person on the condition that he transact with the bank in general, or within a specified sector.
(e) The expenses of muḍārabah and who should bear them—the muḍārib (entrepreneur) or the muḍārabah fund.
(f) Defining the relationship between depositors and shareholders.