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Functions of the Fatwa and Sharia Supervisory Board.

  • Sheikh Dr. Said Mohammed Abdulrazak El Tabtabai
    Chairman Commission
  • Sheikh Dr. Ahmad Alhajji Alkurdi
    Commission Member
  • Sheikh Dr. Naif Alhajjaj Al Ajmi
    Commission Member
  • His Eminence Sheikh Prof. Mohammed Abdul Razzaq Al-Tabatabaei - Chairman of the Fatwa and Sharia Supervisory Board.
  • His Eminence Sheikh Prof. Ahmad Al-Hajji Al-Kurdi - Member of the Fatwa and Sharia Supervisory Board.

  • His Eminence Sheikh Prof. Nayef Al-Hajjaj Al-Ajmi - Member of Fatwa and Sharia Supervisory Board.

    Reviewing the Company’s Memorandum of Association and Articles of Association and requesting to be amended in accordance with the provisions of Islamic Sharia.

    Reviewing and approving the forms of contracts, agreements and operations related to all the company's transactions with the shareholders, investors and others. As well as participating in the amendment and development of the mentioned forms when necessary, and the contracts that the company intends to conclude - which have no preceding established forms - with a view to ensuring that the said contracts, agreements and operations are free from Sharia prohibitions.

    A statement of the Sharia judgment that the Authority deems appropriate in the Company's transactions referred to it by the Board of Directors, the Chief Executive Officer or the Sharia Supervisory Department.

    Providing the proper Sharia advice to the Board of Directors in any matter related to the Company's transactions.

    Verify the legitimacy of the company's transactions and contracts, through periodic reports submitted to it by the Department of Sharia Supervision on the progress of work and the sound application of fatwas and decisions issued by the Board. In case of deviation, the Board corrects and modifies the transactions concluded to restore them to their legitimacy.

    Representing the company in the Sharia fields of conferences and seminars and participating in Islamic banking meetings, to provide a legitimate perception when the economic stakeholders require so in the topics raised as possible.

    Verify the commitment of the executive management in the company to present all transactions to the Fatwa and Sharia Supervisory Board through the Sharia Supervisory Department.

    The Board shall submit an annual report to the Board of Directors, which shall be presented at a meeting of the Board in which the annual budget of the Company shall be reviewed. The report shall show the summary of the cases presented and the opinions expressed in the Company's executed transactions in accordance with the applicable regulations and instructions. This report shall be read with the report of the Company’s auditor in Ordinary General Assembly meetings.

    Supervising the compilation of fatwas issued by the Board and approving what is published as a legitimate reference and official document that the Company must adhere to and not violate anything thereof, except what is revoked or amended by the Authority.