First Energy Bank is guided by a Sharia’a Supervisory Board consisting of three distinguished scholars, they review the bank’s activities to ensure that all products and investment transactions comply fully with the rules and principles of Islamic Sharia’a.
HIS EMINENCE SH. DR. NIZAM MOHAMMED YAQUBIChairman - SSB
Shaikh Dr. Nizam Mohammed Saleh Yaqubi is a well-known Shari’a Scholar and is recognized internationally. He is on the Sharai’a Supervisory Board of many Islamic financial institutions such as The Accounting and Auditing Organization for Islamic Financial Institutions “AAOIFI”, Bahrain Islamic Bank, Ithmaar Bank, Khaleeji Commercial Bank, Gulf Finance House, Abu Dhabi Islamic Bank amongst many others. He has contributed to the creation of many AAOIFI Sharai’a Standards and participated in numerous Islamic finance and banking conferences around the world.
His Eminence is one of the pioneers in Islamic banking and he is a well-known Shari’a scholar in all fields of Islamic Banking and Fiqh Al Mu’amalat.
HIS EMINENCE SH. DR. MOHAMED ALI BIN IBRAHIM ELGARIBoard Member - SSB
Shaikh Dr. Elgari is an Islamic Economics Professor at King Abdulaziz University in the department of Economics and Administration and Former Director of the Center for Research in Islamic Economics, in the same university.
In addition, Shaikh Dr. Elgari is affiliated with a number of organizations and financial institutions such as member of Shari’a Supervisory Board at National Commercial Bank, Islamic Citibank, Arab National Bank and Dow Jones Islamic Index. Shaikh Dr. Elgari is also on the editorial Boards of several Islamic journals, and an advisory member on the Harvard Series on Islamic Law.
Shaikh Dr. Elgari has participated in various conferences and seminars, both locally and overseas. Extensive research in the field of Islamic economics and finance has led to a number of his works published in recognized journals and presented at relevant conferences. Among them being topics on fiscal deficit in Islamic economics, setting up Shari’a compliant credit cards and banking systems, role of Islamic mutual fund and risk management, and issues facing Islamic banks and investments.
Shaikh Dr. Elgari holds Ph.D. in Economics from University of California, and he is an author of several books and research papers on Islamic Economics and Islamic Banking.
HIS EMINENCE SH. DR. OSAMA MOHAMMED SAAD BAHARBoard Member - SSB
Shaikh Dr. Bahar is a prominent, highly-respected Shari’a scholar from Kingdom of Bahrain.
He is currently Head of Shari’a Compliance and Advisory Department at First Energy Bank, following earlier senior positions at Islamic banks in Bahrain including Head of Shari’a Compliance at Al Salam Bank, Shamil Bank “currently Ithmaar Bank” and Shari’a Compliance Officer at ABC Islamic Bank.
Shaikh Dr. Bahar is also a Member of the Shari’a Supervisory Board of the Global Banking Corporation, International Investment Bank, Ithmaar Bank, Family Bank, and Shari’a Advisor for Bahrain Bourse, Sakana Holistic Housing Solutions and Reef (Real Estate Finance).
Shaikh Dr. Bahar was awarded his Doctorate degree from Lahaye University in Holland, his Master Degree from Al Emam Al Awzae University in Lebanon and his Bachelor degree in Islamic Shari’a from Prince Abdul Qader University of Islamic Studies in Algeria.