Working in unison

The Shariah Group is a fundamental pillar of Al Rajhi operations. The Group is comprised of a series of integrated departments working collectively to accomplish our goal of being a leading Islamic Bank. This objective is achieved by enlisting the necessary plans and policies which ensure that all Al Rajhi banking transactions are compliant with the Shariah law principles

The Shariah Board

Objectives of the Shariah Board:

• Review transactions and activities
• Report findings to the Shariah Board
• Negotiating credit periods
• Monitor the implementation of Shariah Board decisions

Role of the Shariah Board:

• Independent from all other banking departments
• Quality assurance
• Ensure appropriate selection of company personnel

Scope of the Shariah Board:

• Ensure all transactions are following Shariah law
• Positioning Islamic banking policies at the forefront of all decisions made
• Products and services cannot be offered without the Board's approval

Shariah Board Decisions:

• Binding all departments and management of the bank
• Decisions approved in the form of contracts, agreements, forms and products
• Responsibility of all levels of corporate executive departments