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L'azurde Company for Jewelry announces the visit of a number of specialists in the jurisprudence of Islamic financial transactions to the company's factory in Riyadh

LAZURDE 4011 -0.66% 12.12 -0.08

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Announcement Detail L'azurde Company for Jewelry announces that on 14 January 2019, at the invitation of the National Committee for Precious Metals and Gemstones that subordinates to the Council of Saudi Chambers, a number of specialists in the jurisprudence of Islamic financial transactions visited the company's factory in Riyadh. The visit aimed to bring understanding and clear perceptions of the manufacturing processes of gold jewelry and reality of related trading transactions, which has an impact on determining the compatibility of these transactions with the provisions of Islamic law since gold metal has special provisions.

The company's management extends its sincere thanks and appreciation to Excellences of scholars and Mr. Karim Al Enezi, Chairman of the National Committee for Precious Metals and Gemstones at the Council of Saudi Chambers, for efforts in trying to reach a Shariaa opinion on the compatibility of the gold jewlery industry and related trading transactions. L’azurde Company for Jewelry is honored to be one of the factories targeted for the visit within the program of visits prepared by the National Committee for Precious Metals and Gemstones at the Council of Saudi Chambers.

Both of the following Senior Scholars have participated in the factory visit; HE Sheikh Abdullah bin Sulaiman bin Manea, member of the Senior Scholars Council and Advisor of the Royal Court, HE Dr. Abdullah bin Mohammed Al Mutlaq, member of the Senior Scholars Council and Advisor of the Royal Court, HE Sheikh Saad bin Nasser Al-Shathri, member of the Senior Scholars and Advisor of the Royal Court, HE Sheikh Dr. Qais bin Mohammed Al-Sheikh Mubarak, member of the former Senior Scholars Council, Sheikh Dr. Yusuf bin Abdullah Al-Shabaili, Professor at the High Judicial Institute and Sheikh Dr. Khalid Bin Abdullah Al-Muzaini, Professor of King Fahd University of Petroleum and Minerals.

These visits are in line with the recommendations of the panel discussion on dealing in the gold jewlery trading and related credit transactions that were convened on November 27, 2018, organized by the National Precious Metals and Gemstones Committee of the Council of Saudi Chambers in cooperation with the Office of Al-Sayari Law Firm. Any future developments will be announced later on.

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