Shariah Supervisory Board

Allah Almighty Says in the Holy Qur’an:

In the name of Allah the Merciful
"So ask the people of the message if you don’t know" 

(Surah Al-Anbya' Verse 7, Surah An-Nahl Verse 43)

Considering the breadth of the field of Islamic Fiqh , and in light of the many developments and changes of the modern economy and its complexity, in addition to the need for a good judgment and deep honest diligence to understand the Fiqh rules to get the Shariah opinion in financial, transactions, and modern Banking issues, the necessity of Shariah Supervisory Committee of The Bank has emerged based on the Shariah principle: “who works hard and does it right, is rewarded twice and who works hard and does it wrong, is rewarded once”.

The Committee performs a significant role in issuing fatwas based on existing Shariah principles or effort the cope with the contemporary need. The committee approves all the contracts and agreements needed by the Bank with other bodies and institutions before they are accredited, sets an array of Shariah-compliant standards to govern the banking operations and offers consultations in issues presented by other relevant bodies.