BLME aims to uphold Sharia’a principles throughout all its activities and we are grateful to have a Sharia’a Supervisory Board to guide and advise us.
The BLME Sharia’a Supervisory Board is an independent group of learned Islamic scholars that specialise in Fiqh-Al-Muamalat; a branch of Islamic jurisprudence that covers business activities, as well as finance.
The role of the Sharia’a Supervisory Board is to:
- Oversee activities to ensure BLME is run in a Sharia’a compliant manner.
- Guide BLME on matters of Sharia’a compliance and provide advice.
- Assist in the structuring of new products and services, as well as Sharia’a approvals.
- Conduct an annual review of BLME’s operations, agreements and transactions, as well as the Annual Report and Accounts in order to publish a certificate of Sharia’a compliance for the Bank.
- Publish an annual Zakat Statement informing shareholders how much zakat is payable on their shareholding.
The BLME Sharia’a Supervisory Board provides a governance role in addition to the standard regulation that applies to all UK-based financial institutions.
Our Sharia’a Supervisory Board includes:
- Sheikh Dr. Abdulaziz Al-Qassar (Chairman)
- Sheikh Dr. Esam Khalaf Al-Enezi
- Sheikh Dr. Mohammad Al-Barrak
