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Shariah supervisory board plays a great role in minimizing the non compliance risk , are bank in muslims country enable it to play this role?

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Question added by Muhammad Elobead , موظف , بنك فيصل الاسلامي السوداني-بنك السودان المركزي
Date Posted: 2013/09/25
Osama Alia
by Osama Alia , Freelance consultation (Financial Management, Banking) , Freelance CFO

Yes, to the best of my knowledge Shariah Supervisory Boards plays thier role at banks in muslim countries in efficient way.

Adnan Ameen Bakather
by Adnan Ameen Bakather , Founder & Managing Director , Consult & Perform

As brother Waqayah mentioned, these banks are obliged to do so by law.  However, the practices will be based on country-based governance and regulations as well as the degree of enforcement. 

Irshad ul Hassan
by Irshad ul Hassan , Regulatory Reporting Manager , Permanent tsb. Dublin, Ireland

Yes Sharia Supervisory board should be able to play an efficient role otherwise they should not deserve to be in the baord.

Waqayan Al Waqayan
by Waqayan Al Waqayan , Secretary of Sharia Supervisory Board (SSB) , Ahli United Bank (AUB)

islamic banks are obligated to do so by law.

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