07 July 2014
Tharawat, a Bahraini based Islamic Investment firm with prime focus on industrial, agricultural, and services sectors today announces the assigning of Shariyah Review Bureau (SRB) to handle the Shari'a Supervisory Board role for Tharawat.
The agreement brings together SRB's expansive role in establishing Shari'a Boards while directly handling Shari'a Certification, Advisory and Shari'a Audit scale for Tharawat. The arrangement is a powerful demonstration of SRB's growth and dedication to serving the broader Bahraini Investment sector within the Islamic financial industry.
"Combining the Shari'a scholarly expertise of SRB and its global reach in multiple industries with Tharawat's commitment to investment innovation we will develop pre-eminent Islamic investment products in the Islamic market," says Vikram Rao, Acting CEO of Tharawat. He also added, "Our agreement with SRB represents a significant investment in our Shari'a compliance and supervisory function and demonstrates our continuous assurance to clients for driving growth in our core services."
The growth and advancement of companies like Shariyah Review Bureau (SRB) with dedicated teams of Shari'a scholars, experts and Shari'a Auditors have transformed the way companies do business in the Islamic industry. This has also allowed businesses to come closer to Shari'a Advisors who can supervise them on day to day Shari'a compliance issues, investment criteria and product structuring processes, thereby allowing them to run operations smoothly in compliance with Shari'a while having higher productivity rates in product certifications and reduced operational costs.
The Founder and CEO of SRB, Yasser S. Dahlawi has more than a decade of expertise in the field of Shari'a Advisory services spoke about the significance of supporting the Shari'a compliance functions. "Consider the following key strategic advantages for outsourcing - having instant direct access to Shari'a experts, product will be reviewed and approved in a matter of days, valuable time will be freed up which can be used to improve other business functions."
He also comments on the increased scalability options available to expanding businesses "Outsourcing the Shari'a Advisory process to institutions like SRB allows business organizations to have access to scholars from diverse geographical locations such as Malaysia, US, Kazakhstan, France, GCC. It also allows to scale the volume of your business by accessing different plans and strategies of growth without having to suffer huge costs."
About Shariyah Review Bureau
Celebrating its 10th year of business, SRB provides professional Shari'a Advisory and Shari'a Audit services to public and private businesses, including commercial and corporate debt, Sukuks and Islamic equity markets, initial public offerings screening & Investment Banking Practice, energy firms and information providers.
Licensed by the Central Bank of Bahrain, SRB serves clients from US, UK, Switzerland, Canada, Hong Kong, Australia and GCC. In Saudi Arabia alone it holds the market share of 21% of the Co-operative Insurance Firms Listed on the stock-exchange market, and 12% of Saudi Investment Companies licensed by the CMA. It's service offerings span a broad set of complementary disciplines that include product certification, consultation, Shari'a Audit and equity screening. SRB's scholarly presence in more than 12 countries including the US, Europe, Africa, GCC and Asia makes it a unique Sharia consultancy body that can meet clients' true international business requirements.
For more info please visit www.shariyah.com
© Press Release 2014