A Shari'a Advisory Board responsibility is to oversee the company's Compliance to the provisions of Shari'a laws, through conducting continued review and audit procedures to ensure the compliance of existing and new investments to Islamic Shari'a laws and principles. It also conducts regular inspection visits verify that all of NOMW Capital's investments' are fully structured in accordance with Islamic Shari's laws.
In the context of NOMW Capital's commitment to the provisions of Islamic Shari'a law and principles, NOMW Capital is engaged with the Shari'a Review Bureau ("SRB"), a leading Shari'a supervisory board.
Under a Shari'a Services Agreement with NOMW Capital, SRB will have full independence and authority to supervise the company's business activity and verify compliance and compatibility with the controls and standards of Islamic Shari'a. In addition, SRB will have the responsibility of conducting periodic and sporadic reviews and audits of the investment structures, documents and agreements for products offered by the company and issues Shari'a certifications, it is also committed to answer Shari'a questions and inquiries raised by the company and its clients.
Shariyah Review Bureau (SRB) is the Corporate World's leading Sharia Advisor with scholarly presence in more than 12 countries from US, Europe, Africa, GCC and Asia. The breadth of geographical reach crossing national boundaries makes it one of few Sharia consultancy bodies that can meet clients' true international business requirements. SRB is connected to elite Shari'a advisers in a number of different countries of the world, making it one of the few Shari'a advisory bodies that can meet customers' business needs on an international scale.
SRB provides professional Sharia Advisory and Sharia 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. It serves multiple sectors of the financial industry with clients from Hong Kong, US, UK, Canada, France, Switzerland and the GCC. In Saudi Arabia alone it holds the market share of more than 13% of Saudi Investment Companies licensed by the CMA and +21% of the Co-operative Insurance Firms Listed on the stock-exchange market. Its service offerings span a broad set of complementary disciplines that include product certification, consultation, Sharia Audit and equity screening.
For more information, please visit: www.shariyah.com