Tuesday, September 25, 2007

Shariyah Review Bureau wins CBB green light

from the Gulf Daily News

The Central Bank of Bahrain (CBB) yesterday announced it has granted a licence to the Shariyah Review Bureau (SRB), a provider of independent services related to Sharia review and compliance. SRB, which will operate under the 'Ancillary Service' licence category, is the first entity of its kind to be licensed by the CBB ... SRB's chairman is well-known Sharia scholar and member of the Islamic Fiqh Academy, Dr Mohammed Ali El Gari. Dr El Gari, who is director of the Centre for Research in Islamic Economics at King Abdulaziz University in Saudi Arabia, also sits on the Sharia supervisory boards of a number of Islamic financial institutions. Other shareholders are prominent bankers from the region ... SRB chief executive Yasir Dahlawi described his firm as a specialised entity, which provides external Sharia review services to Islamic financial institutions. "We aim to provide high quality opinions that are practical and compatible with the principles of the Islamic Sharia," he said.

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