Shariah Advisory Services
Gatehouse has put in place a unique Shariah Advisory and Shariah Compliance Department combining expert Shariah advice with the technical and multi-disciplinary support of an investment bank in the heart of the City of London.
The team which is lead by Mufti Muhammad Nurullah Shikder and will be providing Shariah services in the following three core areas:
1) Shariah Advisory:
- Assisting with the structuring of Shariah compliant products and offerings and issuing the relevant Fatwa
- Reviewing transaction documentation in accordance with the principles of Shariah
- Providing general Shariah consultancy/advice on an on-going basis
2) Shariah Audit & Compliance:
- Providing Shariah audit services
- Reviewing executed transaction documents to ensure continuous Shariah compliance
- Preparation of Shariah auditor’s reports
3) Shariah Training & Research:
- Delivering training on Shariah compliant financing techniques, products, services and transactions to clients
- Carrying out research in the field of Shariah compliant products, techniques and services in order to develop innovative products
Each core area will have dedicated team members to cater for the needs of the bank’s clients to ensure an efficient and streamlined service.
Key contacts
Head of Shariah Advisory and Shariah Compliance
Mufti Muhammad Nurullah Shikder
Muhammad joined Gatehouse in October 2008 having spent three and a half years with Dubai Islamic Bank in the Shariah Coordination Department and worked closely with Dr. Hussain Hamid Hassan, Chairman of the DIB Shariah Board. Muhammad has been involved in many transactions where innovative structuring and documentation was essential, including sukuks, Islamic funds, Islamic syndications and other corporate and retail products. He was also a trainer in Islamic banking and finance for Dubai Islamic Bank and other financial institutions in Dubai. He regularly attends and speaks at Islamic finance seminars and conferences.
In addition to being a member of Gatehouse’s Shariah Supervisory Board, Muhammad also sits on the Shariah Boards of Lloyds TSB, Alburaq of Arab Banking Corporation and Scottish Widows Investment Partnership (SWIP).
Shariah Advisory
Moilim El-Azhar
Moilim joined Gatehouse in February 2009 as an Associate Vice President of the Shariah Advisory and Shariah Compliance Department. He has memorized the entire Holy Quran (Jamiah Al Athariya, Pakistan), studied Islamic theology (Diploma from Dawa Academy - International Islamic University Islamabad) and received studies at BA level in Islamic Laws (Islamic University for Science & Technology /Wifaq). In 2001 and 2003, Moilim obtained his BSc. Economics and MSc. Economics & Finance respectively from the School of Economics, International Islamic University Islamabad (Pakistan).
Prior to joining Gatehouse, Moilim spent two years with Dubai Islamic Bank in the Shariah Supervisory Department as a researcher under the direct supervision of Dr. Muhammad Abdulhakim Zoeir (General Secretary of the Shariah & Fatwa Supervisory Board). His main responsibilities fall into Shariah auditing, Shariah review of documentation and proofreading of the pronouncements made by the Shariah Board for publishing purpose. He also acted as a translator for the respected bilingual magazine Al Iqtisad Al Islami (Islamic Economics) published by Dubai Islamic Bank. Mr. El Azhar speaks, Arabic, English and French.
Shariah Advisory
Shahid Feroz
Shahid joined Gatehouse as a Shariah Analyst in January 2009 after qualifying as a barrister in England and Wales. Prior to joining Gatehouse, he studied Shariah at Darul Uloom Al Arabiya Al Islamiya, Bury, UK where he obtained a u00a0BA/MA (Distinction) in Islamic Theology and memorised the Holy Quran. He also holds a LLM (Distinction) in International Trade & Commercial Law from the University of Durham. He speaks Arabic, English and Urdu.