Anfaal Capital, a leading Saudi investment banking and asset management firm, has outsourced its Shari’a Supervisory function to Shariyah Review Bureau (SRB).

As a Shari’a advisor, SRB will oversee and supervise the firms Shari’a compliance needs from product structuring to fatwa issuing, and from stock screening to periodical Shari’a audits, said a statement.
 
Ahmed Muzni, CEO at Anfaal Capital, said: “With significant Shari’a advisory experience in institutional asset management, SRB is a great fit to advice Anfaal Capital and assist  to develop innovative world-class Islamic products”.

“By having a dedicated team of Shari'a scholars and experts, SRB has the ability to deliver a speedy solutions to the business while maintaining a high level of Shari'a standards," he said.
 
Yasser Dahlawi, CEO at SRB, said: “Outsourcing Shari’a supervisory functions is changing the landscape of the Islamic financial industry and we are relentlessly working to support our clients by increasing in-house scholarly resources and the size of the team to support our ambitions.”
 
SRB is a leading Shari’a advisor with scholarly presence in more than 12 countries including the US, Europe, Africa, GCC and Asia. - TradeArabia News Service