Shariah Committee

The statement of Shariah committee in Bank AlJazira about the full conversion into a Shariah compliant

Shariah Committee Members

His Excellency Sheikh: Abdullah Bin Sulaiman Al Manea - Chairman

Academic Qualifications

Qualification	Specialty	Year of obtaining the qualification	Granting Entity
Bachelor	Shariah	1377 H	Imam Mohammad Ibn Saud Islamic University
Master	Higher Institute of Judiciary	1389 H	Imam Mohammad Ibn Saud Islamic University

Practical Experiences

Judiciary
Consultant at the Royal Court
Chairman and member of various Islamic institutions’ Shariah Boards inside Saudi Arabia and world wide

Major Memberships

Entity Name	Membership Type
The Council of Senior Scholars	Member
The Islamic Fiqh Council, Muslim World League	Member
International Islamic Fiqh Academy, Organisation of Islamic Cooperation	Member
Shariah Council at Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)	Member

Major Literatures

Banknote, its fact, history and judgment.
A set of research and fatwas on financial transactions
Research and fatwas in Islamic economics
A thesis in Zakat on Goods Stocked for Trade

His Excellency Sheikh: Abdullah Bin Mohammed Al Mutlaq - Vice Chairman

Academic Qualifications

Qualification	Specialty	Year of obtaining the qualification	Granting Entity
Bachelor	Shariah	1395 H	Imam Mohammad Ibn Saud Islamic University
Master	Comparative Jurisprudence	1399 H	Imam Mohammad Ibn Saud Islamic University
PhD	Comparative Jurisprudence	1404 H	Imam Mohammad Ibn Saud Islamic University

Practical Experiences

Professor at the High Judiciary Institute
Chairman of the Comparative Jurisprudence at Imam Mohammad Ibn Saud Islamic University
Consultant at the Royal Court
Chairman and member of various Islamic institutions’ Shariah Boards

Major Memberships

Entity Name	Membership Type
The Council of Senior Scholars	Member
The Permanent Committee for Research and Iftaa (Formerly)	Member
Shariah Council at Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)	Member
General Authority of Zakat & Tax	Chairman of Shariah Committee

Major Literatures

Investigation in honor crimes
Auction Sale
Supply contract
Sukuk

Sheikh: Dr. Mohammed Bin Ali Al Gari

Academic Qualifications

Qualification	Specialty	Year of obtaining the qualification	Granting Entity
Bachelor	Economics & Management	1975 G	King Abdulaziz University - Jeddah
Master	Economics	1981 G	University of California - USA
PhD	Economics	1984 G	University of California - USA

Practical Experiences

Professor of Islamic Economics at King Abdulaziz University
Director of Islamic Economics Institute (Formerly)
An Expert at International Islamic Fiqh Academy, Organisation of Islamic Cooperation
Chairman and member of various Islamic institutions’ Shariah Boards inside Saudi Arabia and world wide

Major Memberships

Entity Name	Membership Type
Shariah Council at Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)	Member
Scientific Committee at The Islamic Fiqh Council, Muslim World League	Member
Shariah Board of Dow Jones Islamic Market Index, New York	Member
Editorial staff of The Islamic Fiqh Council’s Journal	Member
Advisory board of Harvard Series in Islamic Law, Harvard Law School	Member

Major Literatures

The fundamentals of Islamic Economics - A comparative study of the Islamic economic system
Financial Markets
Introduction to money and banking with applications on Saudi Arabia and attention to Islamic concepts
Introduction to the fundamentals of Islamic economics - a study of the Islamic economic system

The role of Shariah Committee

Ensuring that all activities and businesses of the bank are in compliance with the principles of Islamic law in accordance with the judgment of the Shariah Committee.

Shariah Committee responsibilities

Approving the products.
Approving the documents, records, contracts, and correspondence.
Review contract formulas, documents, and existing applications in the bank to consider the extent of compliance with Islamic law.
Review all products that the bank implement for the first time to demonstrate its compliance with the rules of Islamic law, and establish the basic principles for drafting its contracts and documents.
Periodic audit by Shariah Compliance Division in Shariah Group for Islamic Bank transactions to verify the correctness of the application and ensure that it is in compliance with the rules of Islamic law and fatwas issued by the Committee.
Submit a comprehensive annual report to the general assembly shows the extent of compliance to the principles of the Islamic law through the transactions were reviewed.
Ensure that the earnings realized from sources or ways that contradict with the principles of Islamic law are purified and expended in the public good, according to the reports prepared by the Shariah Compliance Division in Shariah Group.

Bank AlJazira, A Saudi Joint Stock Company, Fully paid capital SAR 8,200,000,000, Commercial Registration No: 4030010523, Head office: Jeddah – Saudi Arabia, P.O. Box 6277
Jeddah 21442, Telephone: +966 12 609 8888 – Fax +966 12 609 8881, National Address: Bank AlJazira - King Abdulaziz Road – Al Nahda Building No. 7845–Zip code 23523
Additional No. 2359 – Unit No. 1), Website: www.baj.com.sa, Bank AlJazira is under the supervision of Saudi Central Bank