Tharawat, a Bahrain-based Islamic investment company, has signed up Shariyah Review Bureau (SRB) to handle the Shari’a supervisory board role for the company.

The agreement brings together SRB's expansive role in establishing Shari’a boards while directly handling Shari’a certification, advisory and Shari’a audit scale for Tharawat.

The arrangement is a powerful demonstration of SRB’s growth and dedication to serving the broader Bahraini Investment sector within the Islamic financial industry, said a top company official.

"Combining the Shari’a scholarly expertise of SRB and its global reach in multiple industries with Tharawat’s commitment to investment innovation we will develop pre-eminent Islamic investment products in the Islamic market," remarked Vikram Rao, the acting CEO of Tharawat.

"Our agreement with SRB represents a significant investment in our Shari’a compliance and supervisory function and demonstrates our continuous assurance to clients for driving growth in our core services," he stated.

The growth and advancement of companies like SRB with dedicated teams of Shari’a scholars, experts and Shari’a auditors have transformed the way companies do business in the Islamic industry.

This has also allowed businesses to come closer to Shari’a Advisors who can supervise them on day to day Shari’a compliance issues, investment criteria and product structuring processes, thereby allowing them to run operations smoothly in compliance with Shari’a while having higher productivity rates in product certifications and reduced operational costs.

SRB founder and CEO Yasser S. Dahlawi said it has more than a decade of expertise in the field of Shari’a advisory services.

“Outsourcing the Shari’a Advisory process to institutions like SRB allows business organizations to have access to scholars from diverse geographical locations such as Malaysia, US, Kazakhstan, France, GCC. It also allows to scale the volume of your business by accessing different plans and strategies of growth without having to suffer huge costs,” he added.-TradeArabia News Service