Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
The Higher Sharia Authority at the Central Bank Held A Consultation Meeting with The Members of the Internal Sharia Control Committees Prior to Its Fifth Meeting
 
Dubai, UAE, September 16, 2018:  The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held a Consultation meeting with the members of the internal sharia control committees (ISCC) of Islamic financial institutions operating in the UAE on 9 September 2018. Islamic Banks, commercial banks’ Islamic windows and Islamic finance companies, represented by the members of their ISCC, the head of the internal Sharia control departments and the heads of the internal Sharia audit, attended this first Consultation meeting to exchange views on various issues that concern Sharia compliance and Sharia governance.
 
His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman HSA noted during this meeting that “this initiative is part of the consultative approach that HSA adopted. This approach was adopted in the belief that it will encourage Islamic banking to take a leading role in our financial system in line with the leadership’s vision to make the UAE a global center for Islamic finance and Islamic economy.'
 
Mr. Khalid Omar Al Kharji in his welcoming remarks stated that “the partnership with the banking sector, its institutions, its committees and its Sharia departments is of great importance, and the Central Bank is keen on constructive consultation in order improve transparency between supervision and the sector.”
 
After the Consultation meeting, the HSA held its fifth meeting. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman HSA, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam Muhammad Ishaq,Sheikh Dr. Aznan Hasan, and Sheikh Dr. Usaid Muhammad Adeeb Al Kilani. 
 
The HSA discussed, a draft framework for Sharia governance which examines the structure of Sharia Control at Islamic financial institutions. The framework would enhance the status of Sharia control in Islamic financial institutions, their internal systems and reporting lines.
 
The HSA discussed the mechanisms of Sharia examination of Islamic financial institutions, to ensure their compliance with Sharia governance frameworks and the HSA’s resolutions and issued directives.
 
The HSA also reviewed the applications submitted by various Islamic financial institutions regarding the HSA approval for new standard financial products, and the appointment of the heads of the internal Sharia control supervisory departments and passed resolutions. 
 
The HSA completed the discussion of the remaining topics listed on its agenda, as well as other topics, and took appropriate decisions in this regard.


Posted by : Dubai PR Network Editorial Team
Viewed 3080 times
PR Category : Banking & Investments
Posted on : Sunday, September 16, 2018  3:43:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : UAE Residents Should be Aware of the Circumstances in which ...
Next Story : Central Bank of the UAE Holds its 7th Board of Directors Mee...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Brow Contour Pro 4-in-1 defining & highlighting brow pencil [12493-Views]
Jessica Kahawaty in Dubai to Celebrate the Launch of SUKIN, Australia's No.1 Natural Skinc... [11608-Views]
BodyO launches officially its AiPod for a full body check-up during the Gitex Future Stars [10144-Views]
The World of Aigner Wunderkammer [9925-Views]
Get flawless skin with Rodial's new Booster Drops [9900-Views]
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology [7893-Views]
Curate your perfect Autumn Winter wardrobe, with Robinsons [7607-Views]
Fifi & Friends - Now available at more outlets across the UAE [7350-Views]
Corum Heritage Eleganza- Dedicated to the stylish woman [7253-Views]
Halloween “Catwoman” mask using BROW products [7009-Views]
BOLLYWOOD PARKS™ Dubai introduces 11 new shows with a new line up of performances from var... [6917-Views]
Dubai Shopping Festival Returns With Much-awaited Mega Raffles [6838-Views]
With more collections and a more spacious car parking, Kalyan Silks moves to Electra Stre... [6643-Views]
Win up to 250,000 Gold coins at Malabar Gold & Diamonds this festive season [6576-Views]
OMEGA gets set to time the Youth Olympic Games Buenos Aires 2018 [6558-Views]
Joyalukkas Celebrates the Festival of Light with Irresistible Offers [6558-Views]
Malabar Gold & Diamonds to triple number of outlets to 750 and raise Group turnover to US$... [6545-Views]
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch' [6271-Views]
Sharjah Government pavilion highlights digital transformation of Sharjah at GITEX 2018 [5588-Views]
Hour Choice presents Coach Park Collection (Suede straps) [5307-Views]
Introducing the Nokia 7.1 to the UAE [5258-Views]
Saddle Up With kate spade Fall 2018 [5252-Views]
Michael Kors to Introduce a Special-edition Whitney Handbag for the Middle East [5136-Views]
W Motors and Safe City Group introduce the BEAST PATROL at GITEX: One of the most advance... [5087-Views]
Be Thankful with Tub of Butter This Thanksgiving [5008-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories