Oman- alizz islamic's Sharia'a board holds fourth meeting in 2015

11/1/2015 12:48:06 PM

(MENAFN- Muscat Daily) Muscat-

The Sharia'a Supervisory Board of alizz islamic bank held its fourth quarterly meeting this year at the bank head office.

The meeting was chaired by Sheikh Dr Mohammed Abdul Rahim Sultan al Olama and attended by Sheikh Dr Osama Mohammed Saad Bahar and Sheikh Nasser al Azri in addition to Sufyan Maysara Yassin head of Sharia'a audit and compliance a press release said on Sunday.

The board discussed several topics and presented its opinion on financing issues raised by the bank. It discussed the processing fees for letters of credit as well as fees for the bank's Sharia'a-compliant Titanium and Platinum credit cards.

The meeting reviewed audit reports for the first half of 2015 and the foreign exchange Wa'ad Agreement. Moreover it approved the syndication transaction of Misco and other Islamic capital market transactions.

Commenting on the meeting Yassin said 'The Sharia'a Supervisory Board is an integral function of alizz islamic bank considering its essential role in governing the banking operations through an array of Sharia'a-compliant guidelines and consultations. Through its regular meetings the Board continues to provide their Sharia'a-related opinions in transactions and recent financial and banking issues based on Islamic principles.'

Alizz islamic bank offers a comprehensive suite of sharia compliant financing products including current account 'qard hassan' saving account and term deposit account 'mudharabah' home finance 'ijarah' and 'forward ijarah' auto finance 'murabaha' and personal finance 'service ijarah and 'goods murabaha'.

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