Shariah Group

It is one of the bank’s groups that follows up all bank’s transactions to ensure that they are implemented in accordance with the principles of Islamic law in accordance with the fatwas issued and decisions approved by the Shariah Committee. It is also a link between the Shariah Committee and the bank’s Executive Management, and it has the same rights as the Shariah Committee in terms of obtaining data, information, clarifications, and inspection of all regulations, systems and instructions it deems necessary to perform its work. Shariah Group perform the following main tasks:

  • Review all bank transactions, contracts, agreements, forms, documents, and issue the necessary actions.
  • Monitor the implementation of Shariah Committee’s decisions in all internal and external bank activities.
  • Carrying out studies and research related to the requirements of the banking market to support the urgent need for products and financing structures compatible with the principles of Islamic law.
  • Ensure that the earnings realized from sources or ways that contradict with the principles of Islamic law are purified and supervise their spending.
  • Shariah audit of the bank’s financial statements before being approved by the Board of Directors.
  • Submit quarterly and annual report to Shariah Committee includes the extent of compliance to the principles of the Islamic law in the transactions during the year.
  • Cooperating with various supervisory agencies to achieve the bank’s interests and goals.
  • Maintaining the general impression of the bank as an Islamic bank committed to the principles of Islamic law in all its transactions and activities.

Shariah Committee Secretariat

The Shariah committee Secretariat assumes the following tasks:

  • Arrange the meetings for Shariah committee and the Executive Committee, meetings' agendas, reports, the necessary materials and documents to present them to committee's members.
  • Attending Shariah committee's meetings.
  • Documenting decisions, recommendations and fatwas by preparing the minutes for these meetings.
  • Inform the related departments about fatwas, recommendations and decisions after approved by the committee.

Shariah Compliance Division

It works to ensure that the bank is compliant with Shariah Committee’s decisions.


  • Ensure that departments and divisions are compliant with fatwas, decision and instructions of Shariah Committee.
  • Submit quarterly compliance reports to the Shariah Committee includes the results of its examination on the bank’s operations, and its instructions regarding the improvements and corrective action, mentioning the distinguished work when appropriate.
  • Study the contracts related to the bank’s business and activities and presented to the Sharia Committee.
  • Initial approval on the products.
  • Reviewing the policies and procedures related to the different bank groups.
  • Reviewing advertising materials related to the bank's activities.

Research & Development Division

Prepares research and studies related to Islamic finance field, issuing periodic reports and contribute to spreading awareness of Islamic banking.

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