Al-Shubaily Joins Alinma Bank Shariah Committee

At its most recent general assembly meeting, Alinma Bank shareholders approved the restructuring of the bank’s Shariah committee, which included the addition of a new member, Dr. Yusuf Al-Shubaily. He joins continuing committee members, Dr. Abdulrahman Al-Atram, who functions as the committee’s president, Dr. Abdullah al-Sheikh, who serves as vice president, and Dr. Sulaiman Al-Turki, who, like Al-Shubaily, holds the position of member. This represents the third term of service for the Shariah committee.
Speaking about the restructuring, Alinma Bank CEO, Mr. Abdulmohsen Al-Fares expressed his thanks and appreciation for the efforts, dedication and service put forth by committee members over the course of the committee’s first two terms.  Al-Fares particularly emphasized the committee’s outstanding work in support of the bank and its mission to advance the development of Shariah-compliant banking and its innovative products and services.
Al-Fares went on to extend a warm welcome to Dr. Shubaily, whose experience and expertise he said would be a valuable addition to the committee. “We are so pleased to have Dr. Shubaily join the Alinma Bank family,” said Al-Fares.  “He is a scholar of repute with a strong background in banking jurisprudence and Zakat transaction in addition to the notable research he has produced in his field.  He will no doubt make important contributions in his new role.”
As a fully Shariah-compliant bank, Alinma has, since its inception, utilized its Shariah committee for the vetting and approval of all transactions, products, services, and internal procedures.  The committee is supported by and an official bank group, whose members work diligently to address issues related to the aforementioned areas of focus. Thanks to their research and rigorous oversight, Alinma Bank is able to guarantee its partners (customers), complete and trustworthy Shariah compliance.