Islamic Banking Governance

The banking products and services offered by BOKI Bank are governed by the provisions and principles of Sharia. These products and services are reviewed and approved periodically by the Internal Sharia Supervisory Committee considering changes in the Islamic banking industry, to ensure their compliance with Sharia principles.

BOKI International’s Internal Sharia Supervisory Committee ( ISSC), comprised of leading Sharia scholars, is responsible for ensuring that all transactions and activities carried out by the bank are in accordance with the principles and provisions of Sharia. Members of the Internal Sharia Supervisory Committee are appointed by BOKI Bank’s Board of Directors and approved by both the Higher Sharia Authority (“HSA”) of the Central Bank of the UAE and the bank’s General Assembly. The Internal Sharia Supervisory Committee ( ISSC) operates in accordance with the resolutions, standards, and directives issued by the Higher Sharia Authority of the Central Bank of the UAE.

Professor Dr. Mohammad Abdul Rahim Sultan Al Olama, Chairman of the ISSC:

Dr. Al Olama is a member of the Grand Islamic Scholars Body in Dubai, an Associate Professor of the School of Sharia at the United Arab Emirates University in Al Ain and an acknowledged expert in Islamic finance.

Dr. Al Olama is also the head of the Fatwa Committee of the Zakat Funds in the UAE. He currently serves on a number of Sharia boards representing Islamic financial institutions and Takaful companies.

Dr. Al Olama has written extensively on modern Islamic finance and has presented numerous research papers at various international conferences. Sheikh Dr. Al Olama holds a PhD in Comparative Islamic Law from Umm Al Qurra University in Mecca, Kingdom of Saudi Arabia.

Dr. Mustafa Hassabo Bashir, Committee Member:

Dr. Mustafa holds a PhD in Sharia and Law, specializing in Comparative Jurisprudence, with an excellent grade, from Omdurman Islamic University, thesis title: The impact of conditions on the contracts named for the transfer in jurisprudence and law. Masters in Sharia and Law, specializing in Comparative Jurisprudence, Bachelor’s in Sharia and Law from Omdurman Islamic University. Specialized in Sharia sciences, law and Islamic banking, he has prepared a number of research papers, including pricing rule in Islamic jurisprudence.

Mr. Abdul Hadi Yaqoub Abdullah, Executive Committee Member:

Mr. Abdul Hadi brings with him with more than 25 years of experience specialized in Sharia and Islamic banking. Lecturer in the field of Islamic financing formulas and jurisprudence of Sharia transactions in many training centers for different Sudanese banks. He holds a Master’s degree in Comparative Jurisprudence and Bachelor of Sharia and Law from Omdurman Islamic University.

Mr. Ibrahim Ahmed Khalil, Internal Sharia Controller:

Mr. Ibrahim is a researcher and specialist in Sharia, law and Islamic banking. He holds a master’s degree in Comparative Law, Islamic University, International, Malaysia. Bachelor’s degree in Law, Cairo University, Khartoum Branch, Sudan. Bachelor’s degree in Sharia, International University of Africa, Khartoum, Sudan. Diploma in Islamic Studies Certificate of practicing the profession / issued by the Ministry of Justice, Sudan.

Mr. Youssef Ibrahim Youssef Al-Doma, Internal Sharia Auditor:

Mr. Youssef brings with him more than 30 years of experience in Sharia Audit. He holds a Bachelor’s degree in Sharia and Law, a Certificate of Regulating the Law Profession (equivalency), Fellowship of the Certified Sharia Auditor – Sudan Academy of Banking Sciences. License to work as a lawyer.