Minhaj Shari'ah Financial Advisory has announced the launch of its operations in Dubai International Financial Centre (DIFC).

The company will provide advisory and training services.

Welcoming Minhaj to DIFC, Abdulla Al Awar, DIFC Authority managing director, said: “One of the critical requirements for the sustained growth of Islamic finance is the availability of reliable and high-quality advisory services in Shari’ah auditing, revision and supervision as well as planning, product development consultancy and training. This gives consultancies like Minhaj Shari’ah Financial Advisory an important role in promoting the growth of the Islamic finance market.”

Dr. Abdul Sattar Abu Ghuddah, chairman of Minhaj, stressed the key role Minhaj will play as a Shari'ah board for various financial institutions.

“A Shari'ah board safeguards Islamic financial companies through planning and guidance, periodic review of forms and contracts, providing a Shari'ah based recommendation regarding products from the idea conception phase until it becomes a ready to use product, by reviewing the contracts, and then by supervision to ensure there are no violations of Shari'ah. Finally these steps are concluded by internal Shari'ah auditing.” – TradeArabia News Service