MUSCAT: The Shari’a Supervisory Board of Alizz Islamic Bank held its sixth meeting of year at the main branch of central business district at Ruwi headed by Shaikh/Prof Dr Essam Khalaf al Anzy . Members of the Shari’a Supervisory Board including Shaikh Dr Ahmed Subhi Ahmed Ayadi, Shaikh Nasser bin Yousef al Azri, attended the meeting. Sulaiman al Harthi, Chief Executive Officer and Issa bin Salim al Riyami, Head of Shari’a Audit & Compliance, Chief Internal Auditor, Chief Risk Officer and several other officials were present.
In his presentation Sulaiman al Harthi highlighted performance of the bank during the fourth quarter of the current year and the challenges faced by it. He also focused on the action plan to be pursued by the bank during the forthcoming year.
The meeting discussed several issues of interest including Shari’a Audit and Compliance reports during the fourth quarter of 2021 following which Shari’a Supervisory Board suggested appropriate guidelines with regards to the subjects of discussion. Shari’a Supervisory Board also approved the audit and training plan for the next year 2022 in addition to numerous meeting agendas which were adequately addressed.
The meeting commended Shaikh Nasser bin Yousef al Azri, SSB member, for his valuable contributions to the bank during his nine-year tenure with Alizz Islamic Bank.
The Board of Directors praised the role played by Shari’a Supervisory Board in spreading and promoting awareness about the role of Islamic banking and community initiatives in various media. From time to time, the bank generates and develops innovative ideas to consolidate the experience of Islamic banking and make it a success story. The General Assembly also endorsed the proposal of the BOD to appoint Shaikh Dr Ibrahim al Sawafi as a member of the board.
The Shari’a Supervisory Board at Alizz Islamic Bank reviews and studies all Islamic banking products and services launched by the bank. The board includes in its membership scholars who are distinguished by deep knowledge of Islamic Shari’a and the jurisprudence of transactions, as well as to spread reassurance among shareholders and depositors whose trust is undoubtedly one of the most important success factors for the bank.
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