Al Yusr holds sec­ond Sharia’a su­per­vi­sory board meet­ing for 2017

Muscat Daily - - BUSINESS -

Muscat – Al Yusr, the Is­lamic bank­ing win­dow of Oman Arab Bank (OAB), re­cently held its sec­ond Sharia’a su­per­vi­sory board meet­ing for the year 2017.

The meet­ing was at­tended by Dr Es­sam al Enezi, chair­man of the Al Yusr Sharia’a su­per­vi­sory board, Dr Ah­mad Ayyadi, Dr Ab­du­laziz al Qas­sar and Dr Khal­i­fah al Gham­mari, gen­eral man­ager of Al Yusr Is­lamic Bank­ing, a press re­lease said.

The meet­ing re­viewed the most im­por­tant ac­tiv­i­ties and work re­lated to the Sharia’a su­per­vi­sory board achieved dur­ing the sec­ond quar­ter of the cur­rent year. The board re­viewed re­ports is­sued by the in­ter­nal Sharia’a su­per­vi­sory depart­ment of the Is­lamic win­dow, in­clud­ing the Sharia’a au­dit­ing and com­pli­ance re­ports as well as the most im­por­tant bank­ing ju­rispru­den­tial is­sues faced by the Is­lamic bank­ing win­dow dur­ing the same pe- riod.

Dr Gham­mari, said, “This meet­ing is the sec­ond for Al Yusr this year as part of our reg­u­lar meet­ings held by the Sharia’a su­per­vi­sory board and are held in re­sponse to the reg­u­la­tory and leg­isla­tive re­quire­ments of the Cen­tral Bank of Oman. The meet­ing re­viewed and dis­cussed the most im­por­tant ac­tiv­i­ties and works achieved dur­ing the sec­ond quar­ter of 2017 in or­der to en­sure the ef­fec­tive func­tion­ing of Al Yusr in ac­cor­dance with the re­quire­ments stip­u­lated in the reg­u­la­tory frame­work for Is­lamic bank­ing ser­vices.”

He added, “The Sharia’a su­per­vi­sory board as­sists Al Yusr in pro­vid­ing the best Sharia’a com­pli­ant prod­ucts and ser­vices. I would like to thank all the board mem­bers for their con­tin­ued sup­port in pro­vid­ing qual­ity ser­vices and prod­ucts that are in line with the prin­ci­ples of Is­lamic bank­ing.”

The mem­bers of the board ex­pressed their ap­pre­ci­a­tion for the ef­forts of Al Yusr and its em­ploy­ees in cre­at­ing Sharia’a com­pli­ant bank­ing prod­ucts that meet the needs of all cus­tomers, in­di­vid­u­als and in­sti­tu­tions. The board also praised the re­mark­able growth in ef­fi­ciency of the in­ter­nal Sharia’a depart­ment and the qual­ity of ser­vices of­fered.

Es­tab­lished in 2013, Al Yusr Is­lamic bank­ing win­dow pro­vides ser­vices via seven branches; two in the Muscat gov­er­norate (Athaiba and Wat­taya), and others in Salalah, Nizwa, Falaj alQabail, Ibra and Al Bu­raimi. Al Yusr cus­tomers also have ac­cess to 148 OAB ATMs lo­cated across the sul­tanate. The Is­lamic bank­ing win­dow pro­vides its re­tail and cor­po­rate cus­tomers as well as in­vestors a wide range of Sharia’a com­pli­ant prod­ucts and ser­vices.

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