Sharia compliance

Sharia compliance certificates

Each of Al Rayan Bank's accounts is fully approved by the Sharia Supervisory Committee.

Account  
Current Account Download certificate
Direct Savings Account Download certificate
On Demand Savings Account Download certificate
60 Day Notice Account Download certificate
120 Day Notice Account Download certificate
Notice Cash ISA Download certificate
Fixed Term Deposit Account Download certificate
Young Person's Savings Account Download certificate
Young Person's Notice Savings Account Download certificate
Home Purchase Plan Download certificate
Buy to Let Purchase Plan Download certificate
Commercial Property Finance Download certificate
Personal Finance Download certificate
Master Murabaha Account Download certificate
Wakala Treasury Deposit Account Download certificate

The members of our Sharia Supervisory Committee are:

Sheikh Dr Abdul Sattar Abu Ghuddah
(Chairman of the Sharia Supervisory Committee)

Sheikh Dr Abdul Sattar Abu Ghuddah is one of the world’s leading scholars in the field of Islamic finance. He holds a PhD in Islamic Law from Al Azhar University, Cairo, Egypt.

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Sheikh Nizam Muhammed Saleh Yaqoobi

Sheikh Nizam is a member of a number of Sharia Supervisory Boards including the Dow Jones Islamic Index, Bahrain Islamic Bank and the Citi Islamic Investment Bank. 

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Mufti Abdul Qadir Barkatulla

Mufti Barkatulla is a prominent Sharia scholar with a strong background in economics and finance. He is a member of the Sharia Supervisory Committees of several Islamic financial institutions. 

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Samir Alamad
(Head of Sharia Compliance)

Samir advises the Bank as an internal representative of the Bank’s Sharia Supervisory Committee (SSC), and undertakes regular Sharia compliance audit and monitoring of the Bank’s operations.

For further information, please click here.

Previous Sharia Supervisory Committee members:

Sheikh Muhammad Taqi Usmani
(Retired from the Committee)

Sheikh Muhammad Taqi Usmani was a member of the Sharia Cassation Board at the Supreme Court in Pakistan from 1982 - 2002; has been Vice President of Dar Al Uloom University, Karachi since 1974; Chairman of Islamic Economy Centre in Pakistan; Chairman of Sharia Board of Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and sits on a number of Sharia boards of other institutions.

His advice, guidance and contribution to the development of the Bank has been invaluable and greatly appreciated