Sharia Compliance

Ajman Bank committed to ensure the business complying with Sharia Law and inspiring the Sharia values. Our In-house Sharia Compliance Division is directly reporting to the Fatwa and Sharia Supervisory Board (FSSB) and performing a role of in-house Sharia controller.

Our in-house Sharia Governance & Compliance Division is extensively involved in:

  • Assuring that all Islamic products and services are duly approved by Fatwa and Sharia Supervisory Board (FSSB).
  • Conducting review of all documents, contracts, process flows, product manuals, services and tariff of charges.
  • Arranging periodic Sharia board meeting for Sharia endorsement of the functions conducted by the Bank throughout the period.
  • Liaising in the development and innovation of Sharia compliant products and structuring.
  • Supervising Sharia Governance of all products and services offered by Ajman Bank.
  • Conducting periodic Sharia Audit sessions and submitting audit report to Sharia board and management of the Bank.
  • Arranging Sharia training to the bank’s employees and internees.
  • Attending/addressing customer’s Sharia related queries.
  • Review of Bank financial report and profit distribution mechanism.
  • Calculating Zakat, preparing Zakat Shareholder’s notification and Sharia certification of the Bank’s functions throughout the financial year for general assembly meeting.

 

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