The heated discussion of harmonization has been conferred high priority in Islamic banking and finance industry recently. This occasioned to bounteous debates among scholars concerning how to resolve the impair variance of opinions among Shariah scholars of diverse schools of thoughts (Mazahib). This miscellany eventually augment the confusion among the Islamic banking and financial circle and its market participants regarding the acceptability of specific features of Islamic financial contracts and operations. Incontrovertibly, this has hampered the progress of Islamic financial institutions...