Shari'ah Consultations

  1. To review article of Association and Articles of incorporation of a given institution/fund to ensure that they are free of Shari’ah prohibitive clues.
  2. To review and edit bylaws and internal polices of institution/fund from Shari’ah point of view.
  3. To revise and edit a given company template and proposed contracts and agreements in the institution/fund.
  4. To declare Shari’ah decisions regarding all institution/ fund procedures.
  5. To participate in generating and developing contracts and procedures for financial institutions through presenting Shari’ah advice and suggesting alternatives.
  6. To respond to all incoming Shari’ah inquiries from institution/fund.
  7. To prepare Shari’ah annual reports that demonstrate Institution/fund’s compliance with Islamic Shari’ah regulations.
  8. To calculate Zakaht at the end of fiscal year.
  9. To administer and supervise full or partial transition processes towards Islamizing financial transactions for conventional banks/branches.
  10. To set Shari’ah standards and controls that are required for establishing Investment Funds, Portfolios, currencies exchange and Sukuk.

Shari’ah Supervision

  1. To organize dates of Shari’ah board’s audit meetings.
  2.  To analyze contracts and agreements before presenting them to Shari’ah Board in coordination with institution/fund in a timely manner.
  3. To prepare Shari’ah boards meeting agenda Including preparatory documentation for queries discussions on arising matters.
  4. To write down and type minutes of the board’s meetings.
  5. To forward those decisions, Fatwas and recommendations to institution/fund, and then ,to elaborate on them if necessary.
  6. To organize the above-indicated decisions, Fatwas and recommendations to institution/fund, and then, to elaborate on them if necessary
  7. To communicate with employees of institution/fund by answering their queries, giving advice and providing them with latest publications on contemporary transactions.
  8. Examine institution’s / fund’s activities to ensure their adherence to approved decisions of Shari’ah board..

Shari’ah Audit

We perform Shari’ah audit for institution activities to ensure their compliance with Shari’ah Board standards and guidelines. Our services include the following:

  1. To plan tasks for Shari’ah audit after conducting comprehensive study and analysis on aspects related to Shari’ah points of view.
  2. To collect data on activities under scrutiny.
  3. To determine process and time of Shari’ah audit.
  4. To obtain necessary approval for Shari’ah plans audit from concerned parties.
  5. To co-ordinate with external auditor while auditing.
  6. To present and submit detailed regular report containing Shari’ah Board decisions.
  7. To discuss Shari’ah audit outcomes with the institution/fund management.

Training & Development

Investing in human capital is the ultimate from of investment. Thus, Bait al- Mashura Company has recognized its importance through providing a team of professional experts to design, develop, implement and manage training courses and workshops. Our services include the following:

  1. To develop, market and implement a set of annual training plans , including training courses for institutions.
  2. To conduct training courses and shari’ah orientation for members and boards of financial institutions.
  3. To provide Islamic Financial Industry with needed professionals and to qualify interested fresh graduates in the field of Islamic Financial Industry.
  4. To create principles, rules and standards that help to upgrade level of education, training and development amidst Islamic Financial Industry personnel.
  5. To develop programs of Islamic Banking Studies, including professional diplomas in association with highly-esteemed universities and institutes.
  6. To organize specialized workshops.
  7. To organize Islamic Financial conferences to discuss developments of Islamic Economy and its applications.
  8. To render consultation services for human resources departments.
  9. To grant certifications in supervision systems and shari’ah audit from prestigious institutions in Islamic Financial Industry.

Studies & Researches

Studies and researches are instruments of information and principles of modeling Islamic Financial Industry. Bait al-Mashura with its expertise possess highest qualifications and significant resources that can provide the following services:

  1. To provide specialized Islamic Financial studies, books and researches.
  2. To provide financial consultation for researches and specialists.
  3. To establish information centre to organize, publish and save researches and studies,Fatwas and decisions.
  4. To cooperate with other professional centers in Islamic Financial Industry.
  5. To publish specialized books related to Islamic financial banking.