Shariah Supervisory Board
Shariah Supervisory Board
Gatehouse’s Shariah Supervisory Board forms an integral part of the Bank and is active in overseeing every part of its operations. The SSB reviews transaction documentation and other contractual obligations entered into by Gatehouse including standard terms of employment and insurance arrangements.
Terms of Reference/Roles
- To advise and assist with the development of Shariah aspects of specific products and services that Gatehouse may be working on.
- To issue a Fatwa(s) as to whether all or any specific products or services of Gatehouse or any service beneficiary comply with the rules and principles of Shariah.
- To make recommendations or issue guidance as to how products/services under review could be made Shariah-compliant.
- To conduct a review of products/service documents as, and when, necessary to ensure ongoing compliance of documents with Shariah principles.
- To supervise the Bank’s operations and activities to ensure ongoing compliance of documents with Shariah principles.
- To review Gatehouse’s memorandum and articles of association and other material contracts to ensure ongoing compliance with Shariah principles.
Authority
The SSB is formally appointed by the Board of Directors, pursuant to the delegated authority of, and reporting directly to, the Bank’s shareholders. The SSB consists of four leading Islamic scholars, as follows:
Dr. Abdul Aziz Al-Qassar
Dr Al-Qassar holds a PhD in Islamic Fiqh from Al-Azhar University, and is assistant professor at Shariah College, Kuwait University, where he has also acted as Deputy Dean for Academic Affairs since 2002. Dr Al-Qassar holds a PhD in Islamic Fiqh from Al-Azhar University, and is assistant professor at Shariah College, Kuwait University, where he has also acted as Deputy Dean for Academic Affairs since 2002. He is a member of the Shariah supervisory boards of several Islamic financial institutions, including The Securities House, and has published several academic works.
Mufti Muhammad Nurullah Shikder
Head of Shariah Advisory & Shariah Compliance
Mufti Muhammad Nurullah Shikder joined Gatehouse as the Head of Shariah Advisory & Shariah Compliance Department as well as an executive member of the Shariah Supervisory Board of the bank.
Dr. Essam Khalaf Enezi
Dr Enezi is a holder of Ph.D. from the Jordanian University in the Doctrine specialisation. He
also holds a Masters degree from the University of Kuwait – Faculty of Higher Studies – Doctrine
Rules Program – Title of the thesis "Debts and Effect of their Acceleration Effect in Islamic
Doctrine – Compared Study". He is a member of the teaching staff at University of Kuwait in Shariah
and Islamic Studies Facullty. Dr Enezi also holds many senior Shariah board member positions at
Islamic financial institutions in the GCC and in the UK.
