Alpen sets up Shariah board; to offer Islamic products

The SSB will supervise and advise on Shariah related matters in conducting Islamic financial business

  
Islamic finance. Image used for illustrative purpose.

Islamic finance. Image used for illustrative purpose.

Getty Images

Alpen Capital and Alpen Asset Advisors, which are set to launch their Islamic product offering, has formed a Shari’ah Supervisory Board (SSB) with Islamic scholar Sheikh Dr. Mohamed Ali Elgari, as chairman.

Scholars Sheikh Dr. Amin Fateh and Sheikh Abdulsattar Ali Al Kattan will also be on the board, Alpen said in a statement Monday.

The SSB will supervise and advise on Shari’ah related matters in conducting Islamic financial business, including Shari’ah review and consultation and Shari’ah audit.

Alpen has also engaged Minhaj Advisory, a firm specialized in providing Shari’ah financial advisory services, as an advisor for its Islamic offering.

Alpen aims to launch their propriety Islamic product offering after receiving approval from the Dubai Financial Services Authority for conducting Islamic financial business through an Islamic window.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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