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We’re honored to have four of the world's most prominent Shari'a scholars on our independent Shari'a board. They are highly regarded authorities in law, economics, finance and Shari'a law.
We entrust our Shari'a board with the responsibility of making sure that all our NBF Islamic products and services are in full accordance with the relevant Fatwas and applicable Islamic principles.

Read about the scholars who provide us with guidance and hold us accountable in our commitment to Islamic principles:

Dr. Mohamed Ali Elgari Chairman
Dr. Mohamed Ali Elgari is a Professor of Islamic Economics. Previously, he was Director of the Centre for Research in Islamic Economics at King Abdul Aziz University in Saudi Arabia. Dr. Ali Elgari is an advisor to many Islamic financial institutions throughout the world and serves on the Shari'a board of the Dow Jones Islamic index. He is a member of the Islamic Fiqh Academy as well as the Islamic Accounting & Auditing Organisation for Islamic Financial Institutions. Dr. Elgari has written several books on the subject of Islamic banking. He graduated from the University of California with a PhD in Economics.

Dr. Mohd Daud Bakar
Dr. Mohd Daud Bakar is the Chairman of the Shari'a Advisory Council at the Central Bank of Malaysia, the Securities Commission of Malaysia and the Labuan Financial Services Authorities. Dr. Bakar previously served as Deputy Vice-Chancellor at the International Islamic University Malaysia. Dr. Bakar is a Shari'a board member of various financial institutions, including the International Islamic Liquidity Management Corporation (IILM), Morgan Stanley (Dubai), Bank of London and Middle East (London), Noor Islamic Bank (Dubai), Muzn Islamic Banking of the National Bank of Oman and Salama Islamic Insurance, amongst others.

Dr. Muhammad Amin Ali Qattan
Dr. Muhammad Amin Ali Qattan holds a PhD in Islamic Banking through Birmingham University. He is a prolific author of texts and articles on Islamic economics and finance. He is currently Director of the Islamic Economics Unit at Kuwait University's Centre of Excellence in Management. Dr. Qattan also serves as the Shari'a advisor to many reputable institutions such as Ratings Intelligence, Standard & Poors Shari'a Indices and Al Fajer Retakaful amongst others. He is a highly regarded Shari'a scholar and is based in Kuwait.

Dr. Osama Al Dereai
Dr. Osama Al Dereai is a Shari'a scholar with extensive experience in teaching, consulting and researching in the field of Islamic finance. He received his Bachelor's degree specialising in the Science of Hadeth Al Sharef through the prestigious Islamic University of Madinah. Dr. Al Dereai obtained his Masters degree at the International Islamic University (Malaysia) and was later presented with his Doctorate in Islamic Transactions at the University of Malaya. Dr. Al Dereai is a Shari'a board member of various financial institutions including the First Leasing Company and Barwa Bank.