Shariah Supervisory Board

Every product introduced by Samba's Islamic Banking Division is carefully evaluated and monitored by our Shariah Supervisory Board. Products, originated by other institutions, undergo a rigorous evaluation for compliance by Shariah Supervisory Board.

Since its creation in 1996, Samba's Islamic Banking Division has distinguished itself for the rigor with which it ensures Islamic correctness in all its products. The Board includes eminent and distinguished Islamic scholars, each of whom is an expert in Shariah provisions related to financial transactions (Fiqh al-Moamalat):

  • Sheikh Abdullah Sulieman Al-Mane'a, Chairman
  • Sheikh Dr. Abdullah Mohammad Al-Mutlaq, Vice Chairman
  • Sheikh Dr. Abdul Sattar Abu Ghuddah, Member
  • Sheikh Dr. Mohammed Ali El-Qari, Member
  • Sheikh Dr. Nizam Yaqubi, Member

Samba’s Shariah Supervisory Board issues Fatwas for each shariah compliant financing and investment product. Fatwas establish guidelines that must be followed to ensure compliance with Shariah principles. Quarterly reviews are done to confirm that guidelines are being implemented properly.